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CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED) - USD ($)
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (2,652,776) $ (3,903,128)
Adjustment for non-cash charges and other items:    
Depreciation and amortization 1,488,433 1,403,906
Interest accretion on liabilities 907,487 800,140
Post employment benefits 93,111 11,576
Income on deposits, advances and savings accounts (222,669) (313,290)
Changes in operating assets and liabilities:    
Stores and spares (1,981) 235,771
Trade debts 81,416 (1,346,456)
Loans and advances (52,523) 86,178
Short term investment 0 54,611
Prepayments (18,562) 1,293
Other receivables (787,644) (165,234)
Trade and other payables 271,064 (3,110,942)
Increase / (Decrease) in non-current liabilities and assets:    
Long term deposits and payables (466,194) (617,082)
Other payables 252,940 (1,277,353)
Long term loans and other assets 2,839,934 (1,547,615)
Post employment benefits paid (19,121) (10,891)
Income on deposit and savings accounts 222,669 313,290
Lease rental payments (70,194) (62,337)
Finance cost paid (319,318) (281,941)
Income tax paid (92,383) (56,983)
Net cash generated from/(used in) operating activities 1,451,915 (5,770,872)
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from disposal (Payment on purchase) of property and equipment - net (88,094) (17,074)
Net cash used in investing activities (88,094) (17,074)
CASH FLOWS FROM FINANCING ACTIVITIES    
Repayment of long term financing (228,456) (67,237)
Net cash used in financing activities (228,456) (67,237)
Net increase/(decrease) in Cash and Cash Equivalents 1,135,365 (5,855,183)
Cash and Restricted Cash at the beginning of the Period 2,862,972 3,120,573
Exchange effect (1,000,582) 5,597,584
Cash and Restricted Cash at the End of the Period 2,997,754 2,862,973
SUPPLEMENTAL INFORMATION - Cash paid during the period for:    
Income taxes (92,383) (56,983)
Interest $ (319,318) $ (281,941)