Company: ILAG
Filing Date: 2025-04-28
Form Type: 20-F
Source: 0001641172-25-006445
Chunk: 204

Company: Intelligent Living Application Group Inc.
Filing Date: 2025-04-28
Form: 20-F
Item: Item 5
Chunk 204
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 after deducting underwriting commission and offering expenses. We believe that our current working capital is sufficient to support our operations for the next 12 months. We may, however, need additional cash resources in the future if we experience changes in business conditions or other developments, or if we find and wish to pursue opportunities for investment, acquisition, capital expenditure or similar actions. If we determine that our cash requirements exceed the amount of cash, cash equivalents and restricted cash we have on hand at the time, we may seek to issue equity or debt securities or obtain credit facilities. The issuance and sale of additional equity would result in further dilution to our shareholders. The incurrence of indebtedness would result in increased fixed obligations and could result in operating covenants that would restrict our operations. Our obligation to bear credit risk for certain financing transactions we facilitate may also strain our operating cash flow. We cannot assure you that financing will be available in amounts or on terms acceptable to us, if at all.
 

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Cash Flows
 
A summary of the sources and uses of cash and cash equivalents is as follows:
 

                                                                                      For the years end December 31,                               
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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