Summary of significant accounting policies (Tables)
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12 Months Ended |
Dec. 31, 2024 |
Summary of significant accounting policies |
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Schedule of consolidated entities |
| | | | | | | | Place incorporated | | Ownership percentage | | TROOPS, Inc. | | Cayman Islands | | Parent Company | | 11 Hau Fook Street Limited | | Hong Kong | | 100 | % | Apiguru Pty Ltd. | | Australia | | 100 | % | Beijing SGOCO Image Technology Co., Ltd. | | Beijing, China | | 100 | % | First Asia Finance Limited | | Hong Kong | | 100 | % | FOR THE FUTURE, Inc. | | Republic of Seychelles | | 100 | % | Giant Credit Limited | | Hong Kong | | 100 | % | Giant Connection Limited | | Republic of Seychelles | | 100 | % | Giant Financial Services Limited | | Samoa | | 100 | % | Paris Sky Limited | | Marshall Islands | | 100 | % | Riches Advisory Limited | | Hong Kong | | 100 | % | Riches Elite Technology (Shenzhen) Co.,Ltd | | Shenzhen, China | | 100 | % | Riches Finance Group Limited | | Hong Kong | | 100 | % | Riches Holdings Limited | | Cayman Islands | | 100 | % | Riches Property Limited | | Hong Kong | | 100 | % | SGOCO International (HK) Limited | | Hong Kong | | 100 | % | Suns Tower Limited | | | | | | (Formerly known as “First Asia Tower Limited”) | | Hong Kong | | 100 | % | Vision Lane Limited | | British Virgin Islands | | 100 | % |
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Schedule of assets with estimated useful lives |
| | | Leasehold land and buildings | | Leasehold land and buildings are depreciated over the shorter of the unexpired term of lease and their estimated useful lives, being no more than 50 years | Machinery and equipment | | 4-10 years | Leasehold improvements | | 5 years | Vehicles and office equipment | | 4-5 years |
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Schedule of Separately identifiable intangible assets that have determinable lives |
| | | Trademarks of GFS | | 10 years | Service Contracts of GFS | | 1 year | Non-competition agreements of Apiguru | | 3 years | Customer relationship of Riches Holdings | | 10 years |
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Schedule of fair value hierarchy of financial assets and liabilities |
| | | | | | | | | | | | | | | | | | Fair Value | | | | | | Measurement at | | | Carrying Value at | | December 31, | | | December 31, 2024 | | 2024 | | | | | | Level 1 | | Level 2 | | Level 3 | Convertible notes measured at fair value | | $ | — | | $ | — | | $ | — | | $ | — |
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Schedule of changes in financial liabilities |
| | | | Balance at January 1, 2024 | | $ | — | Issuance of convertible notes | | | 13,400 | Fair value losses on issue date and conversion dates | | | 7,690 | Conversion of convertible notes | | | (21,090) | Balance at December 31, 2024 | | | — |
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Schedule of assumptions used for determination of fair value of the convertible notes |
| | | | | LIANTENG | Convertible note holder | | LIMITED | Appraisal Date (Inception Date) | | May 31, 2024 | Risk-free Rate | | 4.51% | Applicable Closing Stock Price | | $1.56 | Conversion Price | | $0.8. to $1.92 | Volatility | | 89.90% | Dividend Yield | | 0% | Credit Spread | | 8.60% |
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Schedule of the Company's revenues disaggregated by products and services and timing of revenue recognition: |
| | | | | | | | | | | | Year ended December 31, | Revenue by recognition | | 2024 | | 2023 | | 2022 | Revenue by recognition over time | | $ | 4,431 | | $ | 3,569 | | $ | 3,875 | Revenue by recognition at a point in time | | | 5,642 | | | — | | | — | | | $ | 10,073 | | | 3,569 | | | 3,875 |
| | | | | | | | | | | | Year ended December 31, | Revenue by major product line | | 2024 | | 2023 | | 2022 | Interest on loans | | $ | 3,308 | | $ | 2,313 | | $ | 2,451 | Property lease and management | | | 1,780 | | | 1,069 | | | 1,106 | Applications, technology & services | | | 151 | | | 187 | | | 318 | Consultancy services for insurance products | | | 4,478 | | | — | | | — | Advisory and referral services | | | 356 | | | — | | | — | | | $ | 10,073 | | | 3,569 | | | 3,875 |
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Summary of the movement of the Company's contract liabilities |
| | | | | | Contract | | | liabilities | Balance as of January 1, 2022 | | $ | 7 | Revenue recognized from beginning contract liability balance | | | (7) | Advances received from customers related to unsatisfied performance obligations | | | 10 | Balance as of December 31, 2022 | | $ | 10 | Revenue recognized from beginning contract liability balance | | | (10) | Advances received from customers related to unsatisfied performance obligations | | | 13 | Balance as of December 31, 2023 | | $ | 13 | Revenue recognized from beginning contract liability balance | | | (13) | Advances received from customers related to unsatisfied performance obligations | | | 148 | Balance as of December 31, 2024 | | $ | 148 |
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