Company: ILAG
Filing Date: 2025-04-28
Form Type: 20-F
Source: 0001641172-25-006445
Chunk: 206

Company: Intelligent Living Application Group Inc.
Filing Date: 2025-04-28
Form: 20-F
Item: Item 5
Chunk 206
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 other elements of $42,771; and being offset by (i) a decrease in other receivables of $268,621; (ii) non-cash item of $408,473 including $303,269 of depreciation and amortization, $105,204 of bad-debt being offset; (iii) decrease in inventory of $535,182; (iv) an increase in cash flow by other elements of $2,525.
 
Investing Activities
 
Net cash used in investing activities was $115,161 for 2024 was primarily attributable to purchase of property and equipment for electroplating production.
 
Net cash used in investing activities was $1,360,274 for 2023 was primarily attributable to leasehold improvement and purchase of property and equipment for electroplating production.
 
Net cash used in investing activities was $4,181,724 for 2022 was primarily attributable to purchase of property and equipment for electroplating production.

Financing Activities
 
Net cash used in financing activities was $44,557 for 2024 and was primarily attributable to repayments of bank borrowings.
 
Net cash used in financing activities was $154,976 for 2023 and was primarily attributable to repayments of bank borrowings.
 

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Net cash provided by financing activities was $17,397,802 for 2022 and was primarily attributable to proceeds from public offering of $18,048,369; offset by (i) payments of finance lease liability of $8,391, and (ii) repayment of bank borrowings of $642,176.
 
Capital Expenditures
 
We had capital expenditures of $115,161 and $1,360,274 for 2024 and 2023, respectively. Our capital expenditures were mainly used for purchases of production equipment and office equipment. We intend to fund our future capital expenditures with lease financing, if available, proceeds from our offering and other financing alternatives. We will continue to make capital expenditures to support the growth of our business.
Bank Facility
 
On November 3, 2017, Kambo Locksets Limited obtained banking facilities from the Bank of China (Hong Kong) Limited pursuant to which it may borrow up to HK$ 6.0 million (approximately $0.8 million) for working capital purposes. On June 24, 2021, this banking facilities was increased to HK$ 7.0 million (approximately $0.9 million). The credit facility bears interest at 5.5