v3.25.1
Changes in Liabilities from Financing Activities
 12 Months Ended
Dec. 31, 2024
Changes in Liabilities from Financing Activities [Abstract]  
Changes in Liabilities from Financing Activities

34.    Changes in liabilities from financing activities

 

2022
   

Short-term
borrowings

  

Financial
liabilities at
fair value
through
profit or
loss

  

Long-term
borrowings
(including
current
portion)

  

Lease
liabilities

  

Total
liabilities
from financing
activities

January 1

  

$

1,083,815

 

  

$

22,454,885

 

  

$

3,031,264

 

  

$

819,098

 

  

$

27,389,062

 

Cash inflow from financing activities

  

 

1,005,059

 

  

 

2,199,999

 

  

 

4,001,688

 

  

 

—

 

  

 

7,206,746

 

Cash outflow from financing activities

  

 

(1,005,059

)

  

 

—

 

  

 

(1,739,984

)

  

 

(373,901

)

  

 

(3,118,944

)

Interest paid (Note1)

  

 

—

 

  

 

—

 

  

 

—

 

  

 

(12,586

)

  

 

(12,586

)

Payment of contingent consideration (Note 2)

  

 

—

 

  

 

(300,000

)

  

 

—

 

  

 

—

 

  

 

(300,000

)

Loss on valuation of financial liabilities at fair value through profit or loss

  

 

—

 

  

 

8,054,506

 

  

 

—

 

  

 

—

 

  

 

8,054,506

 

Acquisition through business combinations

  

 

—

 

  

 

—

 

  

 

91,255

 

  

 

—

 

  

 

91,255

 

Changes in other non-cash items

  

 

—

 

  

 

472,000

 

  

 

—

 

  

 

357,716

 

  

 

829,716

 

Effects of foreign currency exchange

  

 

(106,935

)

  

 

(28,066

)

  

 

(359,224

)

  

 

(80,010

)

  

 

(574,235

)

December 31

  

$

976,880

 

  

$

32,853,324

 

  

$

5,024,999

 

  

$

710,317

 

  

$

39,565,520

 
 

2023
   

Short-term
borrowings

  

Financial
liabilities at
fair value
through
profit or
loss

  

Long-term
borrowings
(including
current
portion)

  

Guarantee
deposits
(shown as
other
non-current
liabilities)

  

Lease
liabilities

  

Total
liabilities
from
financing
activities

January 1

  

$

976,880

 

  

$

32,853,324

 

  

$

5,024,999

 

  

$

—

 

  

$

710,317

 

  

$

39,565,520

 

Cash inflow from financing activities

  

 

1,397,615

 

  

 

—

 

  

 

3,083,996

 

  

 

27,171

 

  

 

—

 

  

 

4,508,782

 

Cash outflow from financing activities

  

 

(320,718

)

  

 

—

 

  

 

(2,827,853

)

  

 

—

 

  

 

(782,117

)

  

 

(3,930,688

)

Interest paid (Note1)

  

 

—

 

  

 

—

 

  

 

—

 

  

 

—

 

  

 

(42,419

)

  

 

(42,419

)

Payment of contingent consideration (Note 2)

  

 

—

 

  

 

(400,000

)

  

 

—

 

  

 

—

 

  

 

—

 

  

 

(400,000

)

Gain on valuation of financial liabilities at fair value through profit or loss

  

 

—

 

  

 

(5,480,914

)

  

 

—

 

  

 

—

 

  

 

—

 

  

 

(5,480,914

)

Preferred shares conversion

  

 

—

 

  

 

(26,911,070

)

  

 

—

 

  

 

—

 

  

 

—

 

  

 

(26,911,070

)

Acquisition through business combinations

  

 

3,239,093

 

  

 

—

 

  

 

210,333

 

  

 

105,957

 

  

 

6,098,825

 

  

 

9,654,208

 

Changes in other non-cash items

  

 

—

 

  

 

—

 

  

 

—

 

  

 

—

 

  

 

66,641

 

  

 

66,641

 

Effects of foreign currency exchange

  

 

(42,637

)

  

 

(676

)

  

 

1,206

 

  

 

(1,521

)

  

 

(90,458

)

  

 

(134,086

)

December 31

  

$

5,250,233

 

  

$

60,664

 

  

$

5,492,681

 

  

$

131,607

 

  

$

5,960,789

 

  

$

16,895,974

 
 

2024
   

Short-term
borrowings

  

Financial
liabilities at
fair value
through
profit or
loss

  

Long-term
borrowings
(including
current
portion)

  

Guarantee
deposits
(shown as
other
non-current
liabilities)

  

Lease
liabilities

  

Total
liabilities
from
financing
activities

January 1

  

$

5,250,233

 

  

$

60,664

 

  

$

5,492,681

 

  

$

131,607

 

  

$

5,960,789

 

  

$

16,895,974

 

Cash inflow from financing activities

  

 

1,861,076

 

  

 

6,475,471

 

  

 

7,857,361

 

  

 

119,140

 

  

 

—

 

  

 

16,313,048

 

Cash outflow from financing activities

  

 

(4,323,616

)

  

 

—

 

  

 

(5,055,675

)

  

 

—

 

  

 

(1,001,160

)

  

 

(10,380,451

)

Interest paid (Note 1)

  

 

—

 

  

 

—

 

  

 

—

 

  

 

—

 

  

 

(66,640

)

  

 

(66,640

)

Loss on valuation of financial liabilities at fair value through profit or loss

  

 

—

 

  

 

676,564

 

  

 

—

 

  

 

—

 

  

 

—

 

  

 

676,564

 

Acquisition through business combinations (Note 3)

  

 

—

 

  

 

4,612,649

 

  

 

269,437

 

  

 

125

 

  

 

—

 

  

 

4,882,211

 

Changes in other non-cash items (Note 4 and 5)

  

 

(1,402,583

)

  

 

(2,522,580

)

  

 

902,583

 

  

 

—

 

  

 

652,036

 

  

 

(2,370,544

)

Effects of foreign currency exchange

  

 

(309,206

)

  

 

(2,681

)

  

 

(435,192

)

  

 

(3

)

  

 

(541,472

)

  

 

(1,288,554

)

December 31

  

$

1,075,904

 

  

$

9,300,087

 

  

$

9,031,195

 

  

$

250,869

 

  

$

5,003,553

 

  

$

24,661,608

 

Note 1:    presented in cashflows from operating activities.

Note 2:    presented in cashflows from investing activities.

Note 3:    financial liabilities at fair value through profit or loss that were acquired through business combination in 2024 includes Green Quest acquisition contingent consideration ($1,440,519) and the 2024 Sponsor Promissory Notes ($2,562,102) and warrants ($610,028) that were issued related to the Merger with Blue Ocean.

Note 4:    Changes in other non-cash items for short-term borrowings include reclassification of short-term borrowing to long-term borrowing ($3,022,580) due to contract extension and termination of short-term borrowing excluding accumulated interest ($500,000) in exchange for convertible promissory notes.

Note 5:    Changes in other non-cash items for financial liabilities at fair value through profit or loss is due to convertibles notes that were converted into the Company’s ordinary shares during the period.