v3.25.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:      
Loss from operations before income taxes $ (16,746) $ (17,242) $ (15,397)
Shares issued in lieu of directors fees, bonus and expenses 1,613 525
Shares issued in lieu of consultancy fees 1,788
Share based payment – restricted stock 910
Share based payment – options 1,656 1,773 1,811
Options forfeited during the year (227) (39) (3,221)
Fair value loss on investment, net 1,760 402 869
(Gain)/loss on disposal of assets 1 129
Depreciation 12 7 1
(Gain)/ loss on foreign exchange 158 1,519 (3,183)
Depreciation of right-of-use asset 112 89 50
Cash inflow from taxation 8,784 490
Interest on related party loan conversion (795) (1,150)
Net (increase) in related party receivables (1,469) (1,524) (1,158)
Net (decrease)/increase in related party payables (1,355)
Net (increase)/decrease in operating assets/other receivables 78 80 1,002
Net increase/(decrease) in operating liabilities /other liabilities 839 (138) 347
Net cash used in operating activities (1,526) (15,698) (19,615)
CASH FLOWS FROM INVESTING ACTIVITIES      
Purchase of Fixed Assets (19)
Investment in Related Party (1,000) (2,676)
Purchase of Treasury Shares (52) (253) (1,320)
Net cash used in Investing activities (71) (1,253) (3,996)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from issuance of ordinary shares – ATM, net 124 24
Proceeds from issuance of ordinary shares – Fundraise, net 4,447
Proceeds from the issuance of warrants 135
Repayment of leasing liabilities (141) (119) (55)
Proceeds of Exercise of options 75
Net cash (used in)/provided by financing activities 4,505 40 (55)
Net decrease in cash and cash equivalents 2,908 (16,911) (23,666)
Cash and cash equivalent, beginning of year 1,183 18,122 42,186
Exchange difference on cash and cash equivalents (367) (28) (398)
Cash and cash equivalent, end of year $ 3,724 $ 1,183 $ 18,122