v3.25.1
Audited Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Statement of Cash Flows [Abstract]      
Net income (loss) $ (4,819,132) $ 4,612,191 $ 2,447,102
Depreciation of property, plant and equipment 57,517 164,419 192,259
Gain on early termination of leases (9,041)
Depreciation of right-of-use assets 97,789 105,340 310,741
Impairment of goodwill 294,151
Provisions for compensation and penalty 1,245,625 328,615
Share-based compensation expenses 5,585,610
(Reversal of) Provision for credit losses, net (85,152) 56,557 (514,781)
Accounts receivable 7,418,372 (9,097,664) 10,354,792
Accounts receivable – related parties (100,303) 8,101 (7,898)
Contract assets (73,506) (26,833) 377,802
Amounts due from related parties 118,275 766,111 1,340,647
Other current assets 23,795 106,898 472,249
Tax recoverable 2,033,861 (2,033,861)
Accounts payable (6,864,354) 6,799,732 (3,787,548)
Accounts payable – related parties (253,063) (54,879) (4,471,225)
Amounts due to related parties (362,247) (87,989) (1,961,994)
Tax payables (719,731) 737,196 (2,146,293)
Other payables and accrued liabilities (1,763,120) 85,069 187,313
Contract liabilities (2,490) (2,529) (102,430)
Lease liabilities (102,269) (114,636) (319,228)
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES (1,844,009) 7,336,570 951,372
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of property, plant and equipment (1,549) (16,274)
(Increase) Decrease in restricted cash with maturity of more than three months when acquired 718,828 2,230,607 (2,949,435)
Acquisition of a subsidiary 16,744
NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITES 718,828 2,229,058 (2,948,965)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Dividends paid (3,966,879) (117,359)
Share issuance costs (1,544,522)
Proceeds from exercise of stock options 16,940
Expiry of unpresented check for dividend paid to shareholders in prior years 26,667
Repayments to directors     (804,888)
Repayments of bank loans (130,927) (256,336)
NET CASH USED IN FINANCING ACTIVITES (1,500,915) (4,097,806) (1,178,583)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH (2,626,096) 5,467,822 (3,176,176)
Effect of exchange rate changes     (3,186)
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF YEAR 12,982,191 7,514,369 10,693,731
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF YEAR 10,356,095 12,982,191 7,514,369
Cash and cash equivalents at end of year 8,164,080 10,769,662 7,385,577
Restricted cash at end of year 2,192,015 2,931,357 3,078,227
Restricted cash with maturity of three months or more when acquired at end of year (718,828) (2,949,435)
Total cash and cash equivalents and restricted cash shown in the audited consolidated statements of cash flows 10,356,095 12,982,191 7,514,369
Supplemental disclosure of cash flow information      
Interest received 66,101 79,207 38,779
Interest paid (1,291) (7,699)
Income tax refunded 1,389,328 25,588
Income tax paid (361,047) (4,894,087)
Non-cash investing and financing activities      
Operating lease right-of-use assets obtained in exchange for operating lease liabilities 168,678,000,000    
Deemed distribution to AIB’s shareholders in reverse recapitalization 6,376,191
Debt extinguished by the Company’s ordinary shares 5,018,750
Fair value of issued shares for acquisition of subsidiary $ 2,097,777