Click Holdings Limited(CLIK) - 2024 Q4 - Annual Report

Financial Position - As of June 30, 2024, the company had cash and cash equivalents of $221,047 and outstanding bank loans of$448,718, with interest rates ranging from 5.47% to 6.11%[60] - The current ratio improved from approximately 1.2 for the year ended December 31, 2023, to 1.6 in the first half of 2024[60] - The company had current assets of approximately $1.4 million and current liabilities of approximately$0.9 million as of June 30, 2024[60] Cash Flow - Net cash used in operating activities was $30,520 for the first half of 2024, a decrease of$233,601 compared to net cash provided by operating activities of $203,081 for the first half of 2023[65] - Net cash used in investing activities for the first half of 2024 was$2,255, compared to $1,114 for the same period in 2023[66] - For the first half of 2024, net cash used in financing activities was approximately$228,687, primarily due to repayments on bank loans and deferred offering costs[67] Credit Losses - The allowance for expected credit losses on accounts receivable was $7,000 and$5,200 as of June 30, 2024, and 2023, respectively[79] Investment Plans - The company plans to allocate approximately 40% of the net proceeds from its initial public offering for potential investments and/or horizontal acquisitions of human resources solution providers[63] - The company intends to use approximately 20% of the net proceeds for the development of a cloud-based human resources system and/or recruitment platform[63] Off-Balance Sheet Transactions - The company has not entered any material off-balance sheet transactions and arrangements in the first half of 2024[68]