AERWINS Technologies Inc.
CIK:0001855631|SEC Filings
Statements of Cash Flows (Unaudited) - USD ($) |
3 Months Ended | 12 Months Ended | |
|---|---|---|---|
Mar. 31, 2024 |
Mar. 31, 2023 |
Dec. 31, 2023 |
|
| CASH FLOWS FROM OPERATING ACTIVITIES | |||
| Net Income (Loss) | $ 8,926,531 | $ (7,801,544) | |
| Net loss from discontinued operations | (4,312,913) | ||
| Net income (loss) from continuing operations | 8,926,531 | (3,488,631) | |
| Adjustments to reconcile net loss to net cash provided (used) by operating activities: | |||
| Interest expense | 98,811 | ||
| Amortization of debt discount | 311,285 | ||
| Share-based compensation | 225,630 | 3,338,298 | |
| Gain on fair value adjustments of warrant | (143,160) | (86,251) | |
| Gain on deconsolidation | (10,014,482) | ||
| Gain on foreign currency translations | (5,663) | ||
| Gain on debt modification | (172,387) | ||
| Change in fair value of derivative liability | 378,685 | $ (685,174) | |
| Increase in operating assets: | |||
| Prepaid expenses | (78,133) | (240,814) | |
| Increase (Decrease) in operating liabilities: | |||
| Accounts payable | 163,241 | 196,705 | |
| Accounts payable, related party | (27,996) | ||
| Accrued expenses | (7,759) | 28,283 | |
| Accrued expenses, related party | (35,400) | ||
| Others payable | 1,062,784 | ||
| Net cash provided by (used) continuing operations | (380,797) | 810,374 | |
| Net cash used by discontinued operations | (4,040,590) | ||
| Net cash used by operating activities | (380,797) | (3,230,216) | |
| CASH FLOWS FROM INVESTING ACTIVITY | |||
| Net cash used by continuing operations | |||
| Net cash used by discontinued operations | (45,559) | ||
| Net cash used by investing activity | (45,559) | ||
| CASH FLOWS FROM FINANCING ACTIVITIES | |||
| Proceeds from issuance of shares | 542,000 | ||
| Proceeds from reverse recapitalization with AERWINS Inc., net | 1,595,831 | ||
| Net cash provided by continuing operations | 542,000 | 1,595,831 | |
| Net cash provided by discontinued operations | 1,470,886 | ||
| Net cash provided by financing activities | 542,000 | 3,066,717 | |
| Net increase (decrease) in cash and cash equivalents | 161,203 | (209,058) | |
| Effects of exchange rates change on cash | (61,552) | ||
| Cash and cash equivalents at beginning of period | 2,072 | ||
| Cash and cash equivalents at beginning of period held by discontinued operation | 300,943 | 300,943 | |
| Cash and cash equivalents at ending of the period held by discontinued operation | |||
| Cash and cash equivalents at end of period | 163,275 | 30,333 | $ 2,072 |
| Supplemental Disclosures of Cash Flow Information: | |||
| Interest | |||
| Income taxes | |||
Balance Sheets |
Mar. 31, 2024
USD ($)
|
Dec. 31, 2023
USD ($)
|
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|---|---|---|---|---|---|---|
| Current Assets: | ||||||
| Cash and cash equivalents | $ 163,275 | $ 2,072 | ||||
| Prepaid expenses | 835,758 | 983,255 | ||||
| Assets of discontinued operations | 81,332 | |||||
| Total current assets | 999,033 | 1,066,659 | ||||
| Total Assets | 999,033 | 1,066,659 | ||||
| Current Liabilities: | ||||||
| Notes payable | 1,480,000 | 1,480,000 | ||||
| Others payable | 132,980 | 132,980 | ||||
| Liabilities of discontinued operations | 350,000 | 8,244,485 | ||||
| Total Current Liabilities | 5,304,949 | 13,038,830 | ||||
| Longer-term liabilities: | ||||||
| Long-term convertible promissory note, net | 2,110,850 | 1,519,403 | ||||
| Derivative liability | 1,293,276 | 1,367,140 | ||||
| Warrant liability | 257,764 | 400,924 | ||||
| Non-current liabilities of discontinued operations | 3,221,007 | |||||
| Total long-term liabilities | 3,661,890 | 6,508,474 | ||||
| Total Liabilities | 8,966,839 | 19,547,304 | ||||
| Stockholders’ Deficit: | ||||||
| Common stock, par value $0.000001, 400,000,000 shares authorized; 885,987 and 626,890 shares issued and outstanding, respectively in March 31, 2024 and December 31, 2023 | [1],[2] | 66 | 62 | |||
| Preferred stock, par value $0.000001, 20,000,000 shares authorized; No shares issued and outstanding | [1],[2] | |||||
| Additional Paid-in capital | 56,091,972 | 55,549,976 | ||||
| Accumulated deficit | (63,484,844) | (72,411,375) | ||||
| Treasury stock | (575,000) | (575,000) | ||||
| Accumulated other comprehensive loss | (1,044,308) | |||||
| Stockholders’ Deficit | (7,967,806) | (18,480,645) | ||||
| Total Liabilities and Stockholders’ Deficit | 999,033 | 1,066,659 | ||||
| Nonrelated Party [Member] | ||||||
| Current Liabilities: | ||||||
| Short-term loans payable | 272,835 | 278,618 | ||||
| Accounts payable | 2,057,534 | 1,918,803 | ||||
| Accrued expenses | 587,317 | 496,265 | ||||
| Related Party [Member] | ||||||
| Current Liabilities: | ||||||
| Short-term loans payable | 482,341 | |||||
| Accounts payable | 313,428 | 341,424 | ||||
| Accrued expenses | $ 110,855 | $ 146,255 | ||||
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