Answered step by step
Verified Expert Solution
Question
1 Approved Answer
What is the total stakeholder equity? GIGIDY INC Consolidated Statements of Cash Flows For the Year Ended For the Year Ended December31, December31, 2021 2020
What is the total stakeholder equity?
GIGIDY INC | ||||
Consolidated Statements of Cash Flows | ||||
For the Year Ended | For the Year Ended | |||
December31, | December31, | |||
2021 | 2020 | |||
Cash Flows From Operating Activities: | ||||
Net Loss | (481,287 | ) | (631,356 | |
Adjustments to reconcile net loss to net cash used in operations | ||||
In-kind contribution of services | 77,571 | 30,856 | ||
Depreciation expense | 233 | 5,801 | ||
Amortization of operating lease assets | 5,158 | 5,410 | ||
Changes in operating assets and liabilities: | ||||
Decrease (increase) in prepaid expenses and other current assets | 6,594 | (6,594 | ||
(Increase) decrease in inventory | (2,423 | ) | 90 | |
Decrease (increase) in interest receivable - related parties | 872 | (872 | ||
Increase (decrease) in accounts payable and accrued expenses | 2,255 | (66,593 | ||
Decrease in operating lease liability | (5,158 | ) | (5,410 | |
Net Cash Used In Operating Activities | (396,185 | ) | (668,668 | |
Cash Flows From Investing Activities: | ||||
Note receivable - related parties | (150,000 | ) | (150,000 | |
Repayment of note receivable - related parties | 300,000 | - | ||
Net Cash Provided By (Used in) Investing Activities | 150,000 | (150,000 | ||
Cash Flows From Financing Activities: | ||||
Proceeds from common stock issuance for cash | - | 2,500,000 | ||
Proceeds from/due to former officers | 1,000 | 11,732 | ||
Proceeds from/due to related party | 4,993 | - | ||
Repayment of due to related party | (8,445 | ) | - | |
Repayment of note payable - related party | - | (332,104 | ||
Proceeds from note payable - related party | - | 70,000 | ||
Purchase of treasury stock | - | (38,336 | ||
Net Cash (Used in) Provided by Financing Activities | (2,452 | ) | 2,211,292 | |
Net (Decrease) Increase in Cash | (248,637 | ) | 1,392,624 | |
Cash at Beginning of Year | 1,398,006 | 5,382 | ||
Cash at End of Year | 1,149,369 | 1,398,006 | ||
Supplemental disclosure of cash flow information: | ||||
Cash paid for interest | - | 9,091 | ||
Cash paid for taxes | - | - | ||
Supplemental disclosure of non-cash investing and financing activities: | ||||
Operating lease asset obtained for operating lease liability upon remeasurement | 10,569 | - | ||
Note payable-related party, converted into100,000shares of common stock | - | 100,000 |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started