Company: PAVS
Filing Date: 2025-08-04
Form Type: 20-F
Source: 0001929980-25-000590
Chunk: 108

Company: Paranovus Entertainment Technology Ltd.
Filing Date: 2025-08-04
Form: 20-F
Item: Item 5
Chunk 108
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 above, our net loss for the fiscal year ended March 31, 2024 was $9,927,324, representing a decrease of $62,259,792, compared with net loss of $72,187,116 for the fiscal year ended March 31, 2023 as a result of the termination of the discontinued operations.

B. Liquidity and Capital Resources

The following table presents an overview of cash flows for the periods indicated:

                                                                    For the years ended March 31,                                                                           
                                                                    202 5                                               202 4                       202 3                   
  Net cash used in operating activities                             $                                   (2,669,456      $          (13,105,978      $          (20,705,496  
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Net cash (used in) provided by investing activities                                                  (27,046,341                  11,698,379                      89,322  
  Net cash provided by financing activities                                                             29,006,249                           -                   3,145,524  
  Effect of exchange rate changes on cash and cash equivalents                                              26,661                  (1,003,646                   1,092,526  
  Net decrease in cash and cash equivalents                         $                                     (682,887      $           (2,411,245      $          (16,378,124  

As of March 31, 2025, 2024 and 2023, we had cash and cash equivalents of $261,355, $341,779 and $1,522,292, respectively. We had short-term investments of $4,758,797 as of March 31, 2025 and we did not had any other short-term investments as of March 31, 2024. As of March 31, 2025 and 2024, our current assets were approximately $7.19 million and $2.85 million, respectively, and our current liabilities were approximately $6.40 million and $2.56 million, respectively.

Operating Activities

Net cash used in operating activities for the year ended March 31, 2025 was approximately $2.67 million, which was primarily attributable to a net loss approximately $7.20 million, adjusted for non-cash items for approximately $4.12 million, adjustments for changes in working capital approximately $0.10 million and net cash provided by