Company: ILAG
Filing Date: 2025-04-28
Form Type: 20-F
Source: 0001641172-25-006445
Chunk: 111

Company: Intelligent Living Application Group Inc.
Filing Date: 2025-04-28
Form: 20-F
Item: Item 3
Chunk 111
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) an increase in inventory of
$586,551; (iii) an increase in deposits of $ 71,188; (iv) an decrease in accounts payable of $67,945; (v) a increase in prepayment of
$ 1,412,318; (vi) a decrease in other payables and accruals of $ 50,253; (vii) a decrease in advance from customers of $6,364; and being
offset by (i) a decrease in account receivables of $1,119,804; (ii) non-cash item of $693,531 of depreciation and amortization and $667,016
of options issued for equity compensation plan; (iii) increase in taxes payable of $31,972; (iv) an increase in cash flow by other elements
of $20,627.

Net cash used in operating activities was $4,170,876
for 2022 and was primarily attributable to (i) the net loss of $1,655,903; (ii) a decrease in accounts payable
of $1,631,595; (iii) an increase in accounts receivable of $697,873; (iv) a decrease of the advance from customers of $216,269; (v) an
increase in prepayment of $180,974; (vi) a decrease in other payables and accruals of $960,292; (vii) a decrease in cash flow by 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