Company: OWLS
Filing Date: 2025-01-24
Form Type: DRS/A
Source: 0000950123-25-000547
Chunk: 154

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-01-24
Form: DRS/A
Chunk 154
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746 due to cancellation of long-term accounts payable.

Net cash flows used in operating activities was US$5.4 million in 2023. The difference between our loss for the year of
US$6.8 million and cash used in operations was primarily due to (i) adjustment for certain non-cash items, which included depreciation expense of US$869,702 and amortization expense of US$78,461,
loss on financial liabilities at FVTPL of US$143,693, finance costs of US$137,210, interest income of US$(96,575), and loss on extension of preference share liabilities of US$26,209; and (ii) the net changes in operating assets and liabilities
of US$255,394, which were primarily related to a decrease in accounts receivables of US$262,285 from the settlement of sales, an increase in other receivables of US$45,456 due to the acquisition of PayNow in May 2023, an increase in prepayment of
US$140,537 due to the prepayment of IPO fees, a decrease in contract liabilities of US$264,301 due to the period for merchants to apply for disbursements has been shortened, an increase in account payables of US$569,998 due to subsidence of COVID-19 pandemic led to the recovery of the hospitality business and an increase in transaction volume, resulting in a rise in a higher amount of account payables to property providers, a decrease in other payable
of US$52,108 due to the accrued fees for auditors and legal counsels, an increase in provisions of US$42,381 due to the estimate of the provision of paid leave, a decrease in other current liabilities of US$64,457 due to the payment of employee
withholding taxes and collected insurance premiums, an increase in other payables from related parties of US$18,569 due to advance operating expenses from related parties, and a decrease in other non-current
liabilities of US$64,951 due to cancellation of long-term account payables.

Net cash flows used in operating activities was
US$8.1 million in 2022. The difference between our loss for the year of US$9.1 million and cash used in operations was primarily due to (i) adjustment of certain non-cash items, which included
depreciation expense of US$927,569 and amortization expense of US$80,749, loss on financial liabilities at