Company: ILAG
Filing Date: 2025-04-28
Form Type: 20-F
Source: 0001641172-25-006445
Chunk: 110

Company: Intelligent Living Application Group Inc.
Filing Date: 2025-04-28
Form: 20-F
Item: Item 3
Chunk 110
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                                                            2024                                                2023                      2022                  
                                                            USD                                                 USD                       USD                   
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Selected Consolidated Statements of Cash Flows Data:                                                                                                          
  Net cash (used in) operating activities                   $                                   (3,042,081      $         (3,163,187      $         (4,170,876  
  Net cash (used in) investing activities                                                         (115,161                (1,360,274                (4,181,724  
  Net cash (used in) provided by financing activities                                              (44,557                  (154,976                17,397,802  
  Effect of exchange rate on cash                                                                   (1,020                    (3,484                   (10,680  
  Net (decrease) increase in cash                                                               (3,202,819                (4,681,921                 9,034,522  
  Cash and cash equivalents at beginning of year                                                 4,483,730                 9,165,651                   131,129  
  Cash and cash equivalents at end of year                  $                                    1,280,911      $          4,483,730      $          9,165,651  

Operating Activities

Net cash used in operating activities was $3,042,081
for 2024 and was primarily attributable to (i) the net loss of $3,690,287; (ii) an increase in inventory of $7,647; (iii) an increase
in deposits of $301; (iv) a decrease in accounts payable of $71,823; (v) an increase in prepayment of $306,050; (vi) a decrease in other
payables and accruals of $134,159; (vii) a decrease in taxes payable of $15,081; and being offset by (i) a decrease in account receivables
of $ 290,569; (ii) non-cash item of $797,656 of depreciation and amortization; (iii) increase in other receivables of $95,031; (iv) an
increase in cash flow by other elements of $11.

Net cash used in operating activities was $3,163,187
for 2023 and was primarily attributable to (i) the net loss of $3,501,518; (ii