Company: GVH
Filing Date: 2025-02-12
Form Type: 20-F
Source: 0001493152-25-006117
Chunk: 189

Company: Globavend Holdings Ltd
Filing Date: 2025-02-12
Form: 20-F
Item: Item 5
Chunk 189
---
 our business operation and capital contributions by our shareholder.
 
As of September 30, 2022, we had working capital of $499,500 as compared to working capital of $128,745 as of September 30, 2023. The total current assets increased 90.0%, from $2,116,028 on September 30, 2022 to $4,021,110 in September 30, 2023, mainly because of an increase in deferred costs which represented the professional listing fees settled and accrued for the year ended September 30, 2023. The total current liabilities increased 140.8%, from $1,616,528 on September 30, 2022 to $ 3,892,365 as of September 30, 2023. The increase in our current liabilities is mainly due to an increase in accounts payables and unpaid offering cost.
 
As of September 30, 2024, we had working capital of $2,670,291 as compared to working capital of $128,745 as of September 30, 2023. The total current assets increased 35.7%, from $4,021,110 on September 30, 2023 to $5,455,979 in September 30, 2024, mainly because of an increase in cash primarily due to net proceeds from share issuance after transaction cost for the year ended September 30, 2024. The total current liabilities decreased 28.4%, from $3,892,365 on September 30, 2023 to $ 2,785,688 as of September 30, 2024. The decrease in our current liabilities is mainly due to a decrease in accounts payable, other payables and accrued liabilities.
 
We also received capital injections by our shareholder of $126,923, nil and nil for the years ended September 30, 2022, 2023 and 2024, respectively.
 
While our accounts receivable increased from $1,429,299 as of September 30, 2023 to $1,684,644 as of September 30, 2024, our working capital increased from $128,745 as of September 30, 2023 to $2,670,291 as of September 30, 2024. The increase of working capital was mainly due to a proceed from issuance of ordinary shares during the year ended September 30, 2024.
 
Based on our total cash