Company: EZOO
Filing Date: 2025-05-15
Form Type: 10-K
Source: 0001641172-25-010460
Chunk: 511

Company: Ezagoo Ltd
Filing Date: 2025-05-15
Form: 10-K
Item: Item 1
Chunk 511
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3. The increase in working capital deficit was reflected in advanced from related parties for operating use, and the repayment
from the related party. The Company’s net loss of $585,330 and $907,126 for the years ended December 31, 2024 and 2023, respectively.

Cash
Flow from Operating Activities

Net
cash used in operating activities for the year ended December 31, 2024 was $ 352,944 as compared to net cash used in operating activities
of $1,104,350 for the year ended December 31, 2023, reflecting a decrease of $ 431,017 . Such decrease was mainly reflected in lesser
net loss in year 2024 compare to net loss in year 2023.An increase in current, and An increase in current payments.

Net
cash used in investing activities for the year ended December 31 2024, and 2023, was $0 and $0, respectively.

Cash
Flow from Financing Activities

Net
cash generated from financing activities for the year ended December 31, 2024 was $ 535,023 as compared to net cash generated from financing
activities of $938,281 for the year ended December 31, 2023, reflecting a decrease of $ 403,258. Such decrease was mainly reflected in
lesser advances from the related parties for operating use during the year 2024.

The
revenues, if any, generated from our current business operations alone may not be sufficient to fund our operations or planned growth.
We will likely require additional capital to continue to operate our business, and to further expand our business. Sources of additional
capital through various financing transactions or arrangements with third parties may include equity or debt financing, bank loans or
revolving credit facilities. We may not be successful in locating suitable financing transactions in the time period required or at all,
and we may not obtain the capital we require by other means. Our inability to raise additional funds when required may have a negative
impact on our operations, business development and financial results.

Critical
accounting estimates

Use
of estimates

In
preparing these consolidated financial statements, management makes estimates and assumptions that affect the reported amounts of assets
and liabilities in the balance sheets and revenues and expenses during the periods reported. Actual results may differ from these estimates.

24

Foreign
currencies translation and re-measurement

Transactions
denominated in currencies other than the functional currency are translated into the functional currency at the exchange