$STBXF
Starbox Group Holdings Ltd.
CIK:0001914818|SEC Filings
Consolidated Statements of Cash Flows - USD ($) |
12 Months Ended | ||
|---|---|---|---|
Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2022 |
|
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||
| Net income (loss) | $ (113,177,997) | $ 2,459,733 | $ 3,602,365 |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: | |||
| Depreciation and amortization | 4,302,344 | 1,840,302 | 161,267 |
| Operating lease expense | 54,350 | 41,090 | 56,690 |
| Stock issued for R&D expense | 76,787,525 | ||
| Impairment loss | 22,204,224 | ||
| Changes in deferred tax | (639,652) | 857,381 | |
| Changes in operating assets / liabilities: | |||
| Accounts receivable | 9,019,099 | (5,124,396) | (864,099) |
| Prepaid expenses and other current assets | 866,313 | (11,265,056) | (4,754,970) |
| Accounts payable | (873,343) | ||
| Deferred revenue | 33,124 | (217,533) | (778,701) |
| Taxes payable | (693,162) | (545,753) | 661,359 |
| Operating lease liabilities | (54,350) | (41,090) | (56,690) |
| Accrued expenses and other current liabilities | (301,874) | 467,154 | 740,415 |
| Net cash used in operating activities | (2,473,399) | (11,528,168) | (1,232,364) |
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||
| Cash acquired from acquisition of subsidiaries | 932,893 | ||
| Purchase of property and equipment | (35,451) | (14,864) | (6,669) |
| Purchase of intangible assets | (17,679,247) | (1,129,260) | |
| Long-term deposit | (409,240) | ||
| Net cash used in investing activities | (444,691) | (16,761,218) | (1,135,929) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||
| (Expenses incurred for) / proceeds from equity financing | (177,421) | 11,766,810 | 18,769,326 |
| Proceeds from loans | 350,000 | ||
| Repayment of loans | (164,526) | (32,331) | |
| Borrowing from (repayment to) related parties | 70,218 | 328,546 | (729,521) |
| Net cash provided by financing activities | 78,271 | 12,063,025 | 18,039,805 |
| EFFECT OF EXCHANGE RATE CHANGES ON CASH | 810,801 | 972,423 | (187,894) |
| NET INCREASE (DECREASE) IN CASH & EQUIVALENTS | (2,029,018) | (15,253,938) | 15,483,618 |
| CASH & EQUIVALENTS, BEGINNING OF YEAR | 2,524,957 | 17,778,895 | 2,295,277 |
| CASH & EQUIVALENTS, END OF YEAR | 495,939 | 2,524,957 | 17,778,895 |
| Supplemental Cash Flow Data: | |||
| Income tax paid | 594,990 | 2,382,705 | 934,910 |
| Interest paid | 86,484 | 26,454 | |
| Supplemental disclosure of non-cash investing and financing activities | |||
| Right-of-use assets obtained in exchange for operating lease liabilities | 167,667 | 52,934 | |
| Shares issued for acquisition of One Eighty Ltd | 53,055,300 | ||
| Goodwill acquired in business acquisition | 82,244,248 | ||
| Identifiable intangible assets acquired in business acquisition | 23,500,000 | ||
| Net assets acquired in business acquisition | $ 21,785,752 | ||
Consolidated Balance Sheets - USD ($) |
Sep. 30, 2024 |
Sep. 30, 2023 |
|---|---|---|
| CURRENT ASSETS | ||
| Cash and equivalents | $ 495,939 | $ 2,524,957 |
| Accounts receivable, net | 536,889 | 9,405,155 |
| Prepaid expenses and other current assets | 10,349,917 | 16,067,467 |
| Prepaid income tax | 1,169,394 | |
| Short-term deposits | 701,491 | 125,298 |
| Due from related parties | 71,219 | 112,281 |
| Total current assets | 13,324,849 | 28,235,158 |
| NON-CURRENT ASSETS | ||
| Property and equipment, net | 2,820,225 | 2,523,181 |
| Intangible assets, net | 44,502,458 | 39,666,050 |
| Right-of-use assets, net | 110,897 | 144,901 |
| Long-term deposits | 145,596 | 213,047 |
| Goodwill | 60,040,024 | 82,244,248 |
| Total non-current assets | 107,619,200 | 124,791,427 |
| TOTAL ASSETS | 120,944,049 | 153,026,585 |
| CURRENT LIABILITIES | ||
| Accounts payable | 255,021 | 1,088,982 |
| Taxes payable | 774,634 | 339,350 |
| Loan payable | 188,908 | |
| Deferred revenue | 485,697 | 393,615 |
| Accrued liabilities and other current liabilities | 1,015,249 | 1,271,087 |
| Operating lease liabilities, current | 56,761 | 47,537 |
| Due to related parties | 301,644 | 246,836 |
| Total current liabilities | 3,077,914 | 3,387,407 |
| NON-CURRENT LIABILITIES | ||
| Deferred tax liabilities, net | 5,889,078 | 6,412,919 |
| Operating lease liabilities, non-current | 54,136 | 97,364 |
| Loans payable, non-current | 2,333,831 | 2,070,563 |
| Total non-current liabilities | 8,277,045 | 8,580,846 |
| TOTAL LIABILITIES | 11,354,959 | 11,968,253 |
| COMMITMENT AND CONTINGENCY | ||
| SHAREHOLDERS’ EQUITY | ||
| Preferred shares, par value $0.018, 312,500 shares authorized, no shares issued and outstanding | ||
| Additional paid in capital | 158,055,715 | 81,902,805 |
| Accumulated other comprehensive income (loss) | 3,684,124 | (1,061,958) |
| (Accumulated deficit) Retained earnings | (92,434,752) | 8,872,207 |
| Total Starbox Group Holdings Ltd.’s shareholders’ equity | 69,843,152 | 89,793,925 |
| Noncontrolling interest | 39,745,938 | 51,264,407 |
| TOTAL SHAREHOLDERS’ EQUITY | 109,589,090 | 141,058,332 |
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | 120,944,049 | 153,026,585 |
| Common Class A [Member] | ||
| SHAREHOLDERS’ EQUITY | ||
| Ordinary shares, value | 523,665 | 80,871 |
| Common Class B [Member] | ||
| SHAREHOLDERS’ EQUITY | ||
| Ordinary shares, value | $ 14,400 |