v3.25.1
Summary of significant accounting policies (Tables)
12 Months Ended
Dec. 31, 2024
Summary of significant accounting policies  
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

%

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

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

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

 

$

 

$

 

$

$

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

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%

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

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