Company: EGG
Filing Date: 2025-03-28
Form Type: F-1
Source: 0001641172-25-001072
Chunk: 86

Company: ENIGMATIG LTD
Filing Date: 2025-03-28
Form: F-1
Chunk 86
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436 in income taxes payable and (v) an increase of US$271,691
in contract assets.

For the year ended September
30, 2023, our net cash used in operating activities was US$58,677, which primarily consisted of our net profit of US$1,134,436, as adjusted
by (a) positive changes of US$10,721 in non-cash items primarily including depreciation and impairment loss; and (b) negative changes
of US$1,203,834 in operating assets and liabilities primarily reflecting (i) a decrease in contract liabilities of US$403,424; (ii) an
increase in accounts receivables of $1,148,391; (iii) an increase of US$545,969 in accruals and other current liabilities and (iv) a
decrease of US$68,189 in accounts payable.

For
the year ended September 30, 2022, our net cash used in operating activities was US$340,755, which primarily consisted of our net profit
of US$137,694, as adjusted by (a) positive changes of US$68,758 in non-cash items primarily including provision of doubtful accounts,
deferred income tax and depreciation; and (b) negative changes of US$547,207 in operating assets and liabilities primarily reflecting
(i) an increase of US$370,498 in accounts payable as a result of an overall slowdown in payment; (ii) an increase of US$1,601,990
in accounts receivable; (iii) an increase of US$486,127 in contract liabilities and (iv) an increase of US$119,338 in income taxes
payable.

| 52 |

Cash Flows from Investing Activities

Our
net cash provided by investing activities during the year ended September 30, 2024 was US$1,929,030,
which was attributable to a decrease in the amount due from shareholders of US$262,768 and proceeds from sale of digital assets
of US$1,669,500, partially offset by the purchase of plant and equipment of US$3,238.

Our net cash provided by investing activities during the year ended September 30, 2023 was US$451,531, which was primarily attributable to the amount due from shareholders of US$88,650 and proceeds from sale of digital assets of US$366,956, partially offset by the purchase of plant and equipment of US$4