Company: CENN
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001140361-25-019312
Chunk: 10

Company: Cenntro Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 2
Chunk 10
---
                  Net cash provided by financing activities

                  1,166,489

                  -

                  Effect of exchange rate changes on cash, cash equivalents and restricted cash

                  65,434

                  (429,029

                  )

                  Net decrease in cash, cash equivalents, and restricted cash

                  (4,222,152

                  )

                  (8,987,144

                  )

                  Cash and cash equivalents, and restricted cash at beginning of the period-continuing

                  12,820,459

                  24,532,655

                  Cash and cash equivalents, and restricted cash at beginning of the period-discontinued

                  140,029

                  5,039,242

                  Cash and cash equivalents, and restricted cash at end of the period-continuing

                  8,734,388

                    20,483,490

                  Cash and cash equivalents, and restricted cash at end of the period- discontinued

                  $

                  3,948

                  $

                    101,263

Operating Activities

            Our net cash used in operating activities was approximately $5.0 million, $8.9 million for the three months
                ended March 31, 2025 and 2024, respectively.

            Net cash used in operating activities for the three months ended March 31, 2025 was primarily attributable to (i) our net loss of approximately $5.7 million and adjusted for non-cash
                items of approximately $1.5 million, which primarily consisted of net foreign currency exchange loss, share based compensation expense, change in fair value  of equity securities, depreciation and amortization and amortization of operating
                lease right-of-use asset of approximately $0.3 million, $0.7 million, $0.3 million, $0.6 million and $0.8 million, respectively, (ii) the increase in inventories, and deferred revenue of approximately $0.9 million and $1.0 million,
                respectively, (iii) decrease in accounts payable, operating lease liabilities and accounts receivable of approximately $0.6 million, $0.6 million and $0.3 million, respectively.

Investing Activities

Net cash used in investing activities was approximately $0.5 million for the three months ended March 31, 2025. Net cash used in by investing activities for the three
            months ended March 31, 2025 was primarily attributable to purchase of property, plant and equipment