v3.25.1
Capital Surplus
 12 Months Ended
Dec. 31, 2024
Capital Surplus [Abstract]  
Capital surplus

20.    Capital surplus

Except as required by the Company’s Articles of Association or Cayman’s law, capital surplus shall not be used for any other purpose but covering accumulated deficit. Capital surplus should not be used to cover accumulated deficit unless the legal reserve is insufficient.

 

2022
   

Share
premium

  

Employee
stock
options

  

Employee
stock
options-
expired

  

Changes in
ownership
interest in
subsidiaries

  

Total

January 1

  

$

5,998,682

  

$

109,305

  

$

6,997

  

$

47,173

  

$

6,162,157

From share of changes in equities of subsidiaries

  

 

—

  

 

—

  

 

—

  

 

88,455

  

 

88,455

Share-based payments

  

 

—

  

 

237,301

  

 

—

  

 

—

  

 

237,301

December 31

  

$

5,998,682

  

$

346,606

  

$

6,997

  

$

135,628

  

$

6,487,913
 

2023
   

Share
premium

  

Employee
stock
options

  

Employee
stock
options-
expired

  

Changes in
ownership
interest in
subsidiaries

  

Total

January 1

  

$

5,998,682

  

$

346,606

 

  

$

6,997

  

$

135,628

  

$

6,487,913

Issuance of ordinary shares

  

 

600,952

  

 

—

 

  

 

—

  

 

—

  

 

600,952

Preferred shares conversion

  

 

26,907,495

  

 

—

 

  

 

—

  

 

—

  

 

26,907,495

Acquisition of subsidiaries

  

 

70,619,903

  

 

—

 

  

 

—

  

 

—

  

 

70,619,903

Changes in non-controlling interests

  

 

—

  

 

—

 

  

 

—

  

 

708,719

  

 

708,719

Share-based payments

  

 

162,029

  

 

118,800

 

  

 

—

  

 

—

  

 

280,829

Employee stock options exercised

  

 

62,923

  

 

(62,923

)

  

 

—

  

 

—

  

 

—

Employee stock options forfeited

  

 

—

  

 

(1,482

)

  

 

1,482

  

 

—

  

 

—

December 31

  

$

104,351,984

  

$

401,001

 

  

$

8,479

  

$

844,347

  

$

105,605,811
 

2024
   

Share
premium

  

Employee
stock
options

  

Employee
stock
options-
expired

  

Restricted
stocks

  

Changes in
ownership
interest in
subsidiaries

  

Total

January 1

  

$

104,351,984

  

$

401,001

 

  

$

8,479

  

$

—

  

$

844,347

  

$

105,605,811

Share-based payments

  

 

22,884

  

 

212,374

 

  

 

—

  

 

—

  

 

—

  

 

235,258

Employee stock options
exercised

  

 

6,091

  

 

(6,091

)

  

 

—

  

 

—

  

 

—

  

 

—

Employee stock options forfeited

  

 

—

  

 

(16,942

)

  

 

16,942

  

 

—

  

 

—

  

 

—

Restricted stocks

  

 

—

  

 

—

 

  

 

—

  

 

147,816

  

 

—

  

 

147,816

Issuance of ordinary shares, net of issuance costs (Note 1)

  

 

45,060,227

  

 

—

 

  

 

—

  

 

—

  

 

—

  

 

45,060,227

Reverse share split as part of the recapitalization

  

 

19,489

  

 

—

 

  

 

—

  

 

—

  

 

—

  

 

19,489

Commitment shares (Note 2)

  

 

450,000

  

 

—

 

  

 

—

  

 

—

  

 

—

  

 

450,000

Acquisition of subsidiaries (Note 3)

  

 

3,184,536

  

 

—

 

  

 

—

  

 

—

  

 

—

  

 

3,184,536

December 31

  

$

153,095,211

  

$

590,342

 

  

$

25,421

  

$

147,816

  

$

844,347

  

$

154,703,137

Note 1:    In connection with the Recapitalization, the Company recognized capital surplus of $45,060,227 due to issuance of ordinary shares. Please refer to Note 19 for details.

Note 2:    On November 25, 2024, the Company entered an Agreement with Tumim (the “Tumim ELOC SPA”) and became obligated to issue a number of the Company’s ordinary shares (the “Commitment Shares”) to Tumim as consideration for its irrevocable commitment for the equity line of credit. The Commitment Shares amounted to $450,000 was accounted under IFRS 2 in capital surplus. Please refer to Note 19 j) for details.

Note 3:    In connection with the acquisition of Green Quest, the Company recognized capital surplus of $3,184,536 for the purchase price consideration. Please refer to Note 32 for details.