Company: FGI
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001628280-25-025588
Chunk: 23

Company: FGI Industries Ltd.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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 76,306 Net loss—— —— — (629,092)— (629,092)(186,465)(815,557)Foreign currency translation adjustments—— —— — — 86,432 86,432 — 86,432 Balance at March 31, 2025—$— 9,589,503$959 $21,355,350 $2,583,343 $(2,153,128)$21,786,524 $(873,693)$20,912,831 

Preference SharesOrdinary SharesAdditionalPaid-inCapitalRetainedEarningsAccumulatedOtherComprehensiveLossTotal FGIIndustries Ltd.Shareholders'EquityNon-ControllingInterestsTotalShareholders'EquitySharesAmountSharesAmountBalance at December 31, 2023—$— 9,547,607$955 $20,877,832 $4,413,524 $(1,111,499)$24,180,812 $(154,040)$24,026,772 Share-based compensation—— —— 119,586 — — 119,586 — 119,586 Net loss—— —— — (412,189)— (412,189)(125,670)(537,859)Foreign currency translation adjustments—— —— — — (22,578)(22,578)— (22,578)Balance at March 31, 2024—$— 9,547,607$955 $20,997,418 $4,001,335 $(1,134,077)$23,865,631 $(279,710)$23,585,921 _________________________________________________

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

8

FGI INDUSTRIES LTD.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

For the Three Months EndedMarch 31,20252024USDUSDCASH FLOWS FROM OPERATING ACTIVITIESNet loss$(815,557)$(537,859)Adjustments to reconcile net loss to net cash used in operating activities Depreciation147,287 87,871 Amortization563,117 497,795 Share-based compensation76,306 119,586 Provision for credit losses1,899 18,412 Provision for defective return