Ownership / E-Home Household Service Holdings Limited | Tables in SEC filings

EJH E-Home Household Service Holdings Limited

Annual report (foreign)

(In U.S. Dollars)

	2024		2023		2022
Cash generated from operating activities
Net loss	$	(19,468,052)	$	(36,242,249)	$	(5,430,209)
Adjustments to reconcile net loss to net cash
Income tax expense		21,624		286,335		2,094,076
Interest expense		556,328		791,749		257,766
Provision for allowance of expected credit losses		511,383		-		-
Depreciation and amortization		446,783		2,257,790		152,203
Amortization of right-of-use assets		403,960		692,557		708,159
Shares issued to directors and consultants		3,690,860		106,000		630,500
Convertible note - Accretion of financing cost		1,353,661		1,376,458		397,153
Property and equipment written off		61,059		-		-
Intangible assets written off		19,300		-		-
Fair value loss		-		3,747,100		1,996,249
Impairment loss		-		15,518,178		-
Changes in operating assets and liabilities
Accounts receivables		279,915		(210,146)		(85,321)
Advance to suppliers		38,037		(1,102,585)		-
Inventories		16,015		(144,611)		235,071
Prepayments, deposits and other current assets		(203,057)		475,241		(19,980)
Long-term prepayments and other non-current assets		2,019,217		(55,332)		1,546,527
Accounts payable and accrued expenses		531,112		5,299,024		3,218,542
Advance from customers		(1,651,589)		33,829		-
Taxes payable		(2,956)		(504,831)		(1,326,930)
Operating lease liabilities		(76,754)		(729,571)		-
Cash (used in) provided by operating activities		(11,453,154)		(8,405,064)		4,373,806
Cash generated from investing activities
Deposits for purchase of land and properties		-		(60,000,000)		-
Repayment from (Lending to) related parties		4,295,120		(4,295,120)		-
Purchases of property and equipment		-		(887,838)		(4,607,297)
Purchases of intangible assets		-		(19,676)		-
Right-of-use-asset costs		-		-		(2,521,104)
Long-term investment		-		-		(941,073)
Refund from potential acquisitions		-		-		1,136,042
Cash paid to former non-controlling shareholders of HAPPY		-		-		(466,888)
Cash provided by (used in) investing activities		4,295,120		(65,202,634)		(7,400,320)
Cash generated from financing activities
Proceeds from stock issuance		35,733,560		92,979,677		-
Due to related parties		1,444,930		1,630,511		-
Proceeds from short-term loan		-		1,402,203		-
Payment of financial leases		-		(76,135)		-
Repayment of convertible notes		(549,236)		(400,000)		-
Proceeds from convertible notes		-		-		8,445,000
Payment of convertible notes issuance cost		-		-		(1,094,015)
Cash provided by financing activities		36,629,254		95,536,256		7,350,985
Net increase in cash and cash equivalents		29,471,220		21,928,558		4,324,471
Effects of currency translation		86,478		(5,518,230)		(1,892,891)
Cash and cash equivalents at beginning of year		71,252,380		54,842,052		52,410,472
Cash, cash equivalents and restricted cash at end of year	$	100,810,078	$	71,252,380	$	54,842,052

SUPPLEMENTAL DISCLOSURES
Income taxes paid	$	-	$	1,044,082	$	1,021,060
Interest paid	$	556,328	$	554,637	$	23,250

Non-cash transactions
Issuance of shares for convertible note principal and interest settlement	$	5,455,679	$	3,520,000	$	200,000
Issuance of shares to directors and consultants	$	3,690,860	$	106,000	$	630,500
Issuance of shares for acquisition of 75% equity in Zhongrun	$	-	$	11,350,319	$	-
Issuance of shares for acquisition of 100% equity in Chuangying	$	-	$	5,593,049	$	-
Issuance of shares for acquisition of 60% equity in Youyou	$	-	$	-	$	2,000,091
Issuance of shares for acquisition of 40% equity in Lianbao	$	-	$	-	$	3,743,258
Issuance of warrants	$	-	$	-	$	345,477

	Year Ended June 30, 2024				Year Ended June 30, 2023
	Amount		% of Revenue		Amount		% of Revenue
Revenues
Installation and Maintenance	$	29,773,730		58.74	$	41,177,200		60.27
Housekeeping		15,409,924		30.40		17,210,122		25.19
Senior care services		4,025,456		7.95		6,515,953		9.54
Educational consulting services		1,257,045		2.48		1,050,397		1.53
Sales of pharmaceutical products		219,159		0.43		2,368,071		3.47
Total revenues		50,685,314		100.00		68,321,743		100.00
Total cost of revenues		37,984,718		74.94		49,764,098		72.84
Operating expenses
Sales and marketing expenses		21,343,126		42.11		22,691,231		33.21
General and administrative expenses		7,443,170		14.69		26,230,966		38.39
Total operating expenses		28,786,296		56.80		48,922,197		71.60
Loss from operations		(16,085,700)		(31.74)		(30,364,552)		(44.44)
Other income (expenses)
Interest income		295,828		0.58		229,045		0.34
Interest expenses		(556,328)		(1.10)		(791,749)		(1.16)
Accretion of financing cost		(1,353,661)		(2.66)		(1,376,458)		(2.01)
Fair value loss – Financial instruments		-		-		(3,747,100)		(5.48)
Other expenses net		(1,746,567)		(3.45)		94,900		0.14
Total other expenses		(3,360,728)		(6.63)		(5,591,362)		(8.17)
Loss before income taxes		(19,446,428)		(38.37)		(35,955,914)		(52.61)
Income tax expense		(21,624)		(0.04)		(286,335)		(0.42)
Net loss	$	(19,468,052)		(38.41)	$	(36,242,249)		(53.03)
Net loss attributable to non-controlling interests		(80,923)		(0.16)		(1,235,410)		(1.81)
Net loss attributable to company shareholders		(19,387,129)		(38.25)		(35,006,839)		(51.22)

	2024		2023
ASSETS
Current assets
Cash and cash equivalents	$	100,665,223	$	71,252,380
Restricted cash		144,855		-
Accounts receivable, net		464,416		1,018,691
Advance to suppliers, net		969,733		1,213,563
Inventories		18,751		34,286
Due from related parties		-		4,295,120
Prepayments, deposits and other current assets		6,506,568		6,217,196
Total current assets		108,769,546		84,031,236
Non-current assets
Property and equipment, net		4,381,763		4,812,524
Intangible assets, net		2,377		31,332
Operating lease – right-of-use assets, net		4,795,273		5,634,302
Finance lease – right-of-use assets, net		-		871,876
Long-term prepayments and other non-current assets		60,769,864		62,874,337
Total non-current assets		69,949,277		74,224,371
TOTAL ASSETS	$	178,718,823	$	158,255,607

LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Accounts payable and accrued expenses	$	7,281,276	$	7,290,320
Advance from customers		501,890		2,123,540
Taxes payable		38,571		-
Current maturities of operating lease liabilities		76,419		316,253
Current maturities of finance lease liabilities		-		58,264
Due to related parties		3,154,698		1,692,212
Short-term loan		1,375,091		1,356,251
Total current liabilities		12,427,945		12,836,840
Long-term portion of operating lease liabilities		1,313,276		1,636,493
Long-term portion of finance lease liabilities		-		282,015
Convertible notes		-		3,871,827
Deferred tax liabilities		1,819,826		1,819,826
Total non-current liabilities		3,133,102		7,610,161
TOTAL LIABILITIES		15,561,047		20,447,001

Commitments and contingencies (Note 21)		-		-

SHAREHOLDERS’ EQUITY
Ordinary shares, $10 par value, 100,000,000 shares authorized; 2,044,363* and 544,981** shares issued and outstanding, respectively		20,443,634		544,981
Additional paid-in capital		171,442,267		146,460,821
Statutory reserve		664,100		664,100
Accumulated deficits		(23,019,895)		(3,632,766)
Accumulated other comprehensive loss		(7,168,199)		(7,109,254)
Total equity attributable to E-Home shareholders		162,361,907		136,927,882
Non-controlling interest		795,869		880,724
TOTAL SHAREHOLDERS’ EQUITY		163,157,776		137,808,606
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	178,718,823	$	158,255,607

	2024		2023
Customer relationships	$	7,748,590	$	7,748,590
Copyrights and trademarks		242,556		242,556
Software		16,756		35,556
Senior care service app		42,094		41,518
Less: accumulated amortization		(1,496,090)		(1,485,359)
Less: impairment		(6,551,529)		(6,551,529)
Intangible assets, net	$	2,377	$	31,332

Operating lease payment	Villas			Base station tower			Warehouse			Total undiscounted cash flows
Discount rate at commencement		4.12	%		3.14	%		4.45	%
One year	$	-		$	27,679		$	265,766		$	293,445
Two years		-			27,679			265,766			293,445
Three years		-			27,679			110,736			138,415
Four years		-			27,679			-			27,679
Five years		753,550			27,679			-			781,229
Beyond five years		828,905			27,679			-			856,584
Total undiscounted cash flows	$	1,582,455		$	166,074		$	642,268		$	2,390,797
Total operating lease liabilities		1,192,898			151,978			607,870			1,952,746
Difference between undiscounted cash flows and discounted cash flows		389,557			14,096			34,398			438,051

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