Company: FGI
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001628280-25-025588
Chunk: 24

Company: FGI Industries Ltd.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 24
---
123,538 671,184 Foreign exchange transaction (gain) loss(13,781)18,072 Deferred income tax benefit(758,698)(48,543)Changes in operating assets and liabilities Accounts receivable823,212 (239,220)Inventories1,407,282 (1,627,111)Prepayments and other current assets(293,655)(127,814)Prepayments and other receivables – related parties973,131 (5,075,121)Other noncurrent assets174,685 (364,657)Income taxes17,786 (419,174)Accounts payable(2,421,083)(3,691)Accounts payable - related parties(634,383)(3,022)Operating lease liabilities(417,283)(344,389)Accrued expenses and other current liabilities(605,489)(612,218)Net cash used in operating activities(1,651,686)(7,989,899)CASH FLOWS FROM INVESTING ACTIVITIES  Purchase of property and equipment(349,875)(609,035)Purchase of intangible assets(100,280)(302,385)Net cash used in investing activities(450,155)(911,420)CASH FLOWS FROM FINANCING ACTIVITIES  Net proceeds from (repayments of) revolving credit facility(1,330,812)4,483,476 Net cash (used in) provided by financing activities(1,330,812)4,483,476 EFFECT OF EXCHANGE RATE FLUCTUATION ON CASH100,858 (40,332)NET CHANGES IN CASH(3,331,795)(4,458,175)CASH, BEGINNING OF PERIOD4,558,160 7,777,241 CASH, END OF PERIOD$1,226,365 $3,319,066 SUPPLEMENTAL CASH FLOW INFORMATION  Cash paid during the period for interest$(302,819)$(213,953)Cash paid during the period for income taxes$(850)$(486,521)NON-CASH INVESTING AND FINANCING ACTIVITIES  Lease liability arising from obtaining a right-of-use asset$296,012 $— Derecognition of lease liability upon early termination$(1,251,111)$— _________________________________________________

The accompanying notes are an integral part