Dogness International Corp

NASDAQ:DOGZUnited States

Apr 18, 2024

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• Dogness Reports Financial Results for the Six Months Ended December 31, 2023, from 4:45PM ET on Thursday Apr 18, 2024 by Dow Jones

  4:45PM ET on Thursday Apr 18, 2024 by Dow Jones
  Companies Mentioned: DOGZ
  ================= ================ Weighted Average Shares Outstanding Basic 10,622,663 10,580,323 ----------------- ---------------- Diluted 10,622,663 10,580,323 ----------------- ---------------- DOGNESS (INTERNATIONAL) CORPORATION CONSOLIDATED STATEMENTS OF CASH FLOWS (All amounts in USD) (Unaudited) For The Six Months Ended December 31, --------------------------- 2023 2022 ------------ ------------- Cash flows from operating activities: Net loss $(3,197,551) $ (3,011,861) Adjustments to reconcile loss income to net cash provided by operating activities: Depreciation and amortization 1,414,937 1,553,520 Share-based compensation for services 399,470 18,583 Gain from disposal of property, plant and equipment (9,845) - Change in bad debt allowance 111,105 - Deferred tax benefit (275,121) (336,131) Accrued interest income - (97,622) Amortization of right-of-use lease assets 591,705 408,602 Warrants modification 239,308 - Changes in operating assets and liabilities: Accounts receivable (682,445) (37,436) Accounts receivable-related parties 177,374 (445,099) Inventories (359,976) (630,430) Prepayments and other current assets (1,080,158) (589,816) Advances to supplier-related party 126,527 (102,305) Accounts payables 425,101 291,728 Accounts payables-related party - (370,662) Accrued expenses and other current liabilities 16,516 (156,628) Advance from customers 104,887 182,887 Operating lease liabilities 188,379 (1,320,452) Taxes payable 159,612 220,999 ----------- ------------ Net cash used in operating activities (1,650,175) (4,422,123) ----------- ------------ Cash flows from investing activities: Purchase of property, plant and equipment (294,828) (1,084,008) Proceeds from disposition of property, plant and equipment 56,000 - Proceeds upon maturity of short-term investments - (10,374,920) ----------- ------------ Net cash used in investing activities (238,828) (11,458,928) ----------- ------------ Cash flows from financing activities: Net proceeds from exercise of warrants 15,101 - Reverse split shares (810) Proceeds from short-term bank loans 691,000 400,000 Repayment of short-term bank loans (885,800) (50,000) Proceeds from long-term bank loans 2,625,800 - Repayment of long-term bank loans (2,793,472) (447,438) Proceeds from related-party loans 6,498 585,157 ----------- ------------ Net cash (used in) provided by financing activities (341,683) 487,719 ----------- ------------ Effect of exchange rate changes on cash and restricted cash 226,388 (489,499) ----------- ------------ Net decrease in cash and cash equivalents (2,004,298) (15,882,831) Cash and cash equivalents, beginning of period 4,483,308 16,605,872 ----------- ------------ Cash and cash equivalents, end of period $ 2,479,010 $ 723,041 =========== ============ SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: Cash paid for interest $ 154,884 $ 208,134 Non-Cash Investing Activities Right-of-assets obtained in exchange for operating lease obligations $ - $ 14,939,726 Reduction of construction-in-progress through accounts payable and other payable $ (40,251) $ - Prepaid share-based compensation for services $ (223,000) $ 315,917
  

• Press Release: Dogness Reports Financial Results for the Six Months Ended December 31, 2023, from 4:45PM ET on Thursday Apr 18, 2024 by Dow Jones

  4:45PM ET on Thursday Apr 18, 2024 by Dow Jones
  Companies Mentioned: DOGZ