| Schedule of Expenses by Nature |
| | |
Year ended | | |
Year ended | | |
Year ended | |
| | |
December 31,
2024 | | |
December 31,
2023 | | |
December 31,
2022 | |
| Employee benefit expense | |
$ | 9,692,846 | | |
$ | 14,136,901 | | |
$ | 12,195,089 | |
| Outsourcing charges | |
| 14,196,270 | | |
| 9,693,009 | | |
| 6,401,995 | |
| Professional services expenses | |
| 5,019,415 | | |
| 7,352,785 | | |
| 5,229,184 | |
| Change in inventory of finished goods | |
| 18,579,888 | | |
| 5,337,118 | | |
| 7,266,283 | |
| Expected credit loss | |
| 897,170 | | |
| 12,153,098 | | |
| - | |
| Insurance expenses | |
| 1,153,243 | | |
| 1,548,512 | | |
| 862,649 | |
| Amortization expenses on intangible assets | |
| 821,201 | | |
| 726,031 | | |
| 1,687,618 | |
| Depreciation expenses on property and equipment | |
| 407,615 | | |
| 507,026 | | |
| 5,897,753 | |
| Depreciation expenses on right-of-use asset | |
| 166,506 | | |
| 15,937 | | |
| 40,414 | |
| Share listing expenses | |
| - | | |
| - | | |
| 70,104,989 | |
| Others | |
| 2,942,480 | | |
| 2,481,689 | | |
| 1,437,146 | |
| | |
$ | 53,876,634 | | |
$ | 53,952,106 | | |
$ | 111,123,120 | |
|
| Schedule of Fair Value of Equity Consideration |
Any excess of the fair value of the
Company’s share issued considering a fair value of the Gorilla Ordinary Shares (price of Gorilla’s Ordinary Shares at the
Closing Date) over the fair value of Global’s identifiable net assets acquired represents compensation for the service of a share
exchange listing for its shares and is expensed as incurred.
| | |
Year ended | |
| | |
December 31,
2022 | |
| Fair value of equity consideration issued by the Company | |
| |
| Market value of 9,492,875 ordinary shares ($10.6 per share) (or 949,288 ordinary shares at $106.00 per share reflective of the 10-to-1 reverse stock split effective April 15, 2024) | |
$ | 100,624,475 | |
| Fair value of Global net assets acquired | |
| | |
| Net cash proceeds from Global | |
$ | 32,324,004 | |
| Warrant acquired | |
| (2,495,243 | ) |
| Others | |
| 690,725 | |
| | |
$ | 30,519,486 | |
| | |
| | |
| Charge for listing services | |
$ | 70,104,989 | |
|