Segments (Tables)
|
3 Months Ended |
12 Months Ended |
Mar. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
Schedule of segment reporting for revenue |
Schedule
of segment reporting for revenue
| |
2025 | | |
2024 | |
| |
Three months ended March 31, | |
| |
2025 | | |
2024 | |
| |
US$ | | |
US$ | |
Revenue | |
| | |
| |
Remittance services | |
| | | |
| | |
Fiat remittance | |
| 4,410,386 | | |
| 6,467,068 | |
ODL remittance | |
| 172,728 | | |
| 279,831 | |
Sales of Airtime | |
| 5,459,503 | | |
| 6,314,878 | |
Other services | |
| 12,952 | | |
| 42,346 | |
Revenue | |
| 10,055,569 | | |
| 13,104,123 | |
Cost of sales | |
| | | |
| | |
Remittance services | |
| (1,682,190 | ) | |
| (2,882,759 | ) |
Sales of Airtime | |
| (5,090,180 | ) | |
| (5,732,411 | ) |
Other services | |
| (81,802 | ) | |
| (81,392 | ) |
Cost
of sales | |
| (6,854,172 | ) | |
| (8,696,562 | ) |
Gross Profit | |
| | | |
| | |
Remittance services | |
| 2,900,924 | | |
| 3,864,140 | |
Sales of Airtime | |
| 369,323 | | |
| 582,467 | |
Other services | |
| (68,850 | ) | |
| (39,046 | ) |
Gross
Profit | |
| 3,201,397 | | |
| 4,407,561 | |
|
Schedule
of segment reporting for revenue
| |
2024 | | |
2023 | |
| |
Years ended December 31, | |
| |
2024 | | |
2023 | |
| |
US$ | | |
US$ | |
Revenue | |
| | |
| |
Remittance services | |
| | | |
| | |
Fiat remittance | |
| 21,592,260 | | |
| 25,287,487 | |
ODL remittance | |
| 880,171 | | |
| 1,407,709 | |
Sales of Airtime | |
| 23,840,573 | | |
| 26,398,707 | |
Other services | |
| 122,408 | | |
| 161,458 | |
Revenue | |
| 46,435,412 | | |
| 53,255,361 | |
| |
2024 | | |
2023 | |
| |
Years ended December 31, | |
| |
2024 | | |
2023 | |
| |
US$ | | |
US$ | |
Cost of sales | |
| | |
| |
Remittance services | |
| (9,475,812 | ) | |
| (11,375,525 | ) |
Sales of Airtime | |
| (21,999,692 | ) | |
| (24,206,112 | ) |
Other services | |
| (367,963 | ) | |
| (317,419 | ) |
Cost of sales | |
| (31,843,467 | ) | |
| (35,899,057 | ) |
| |
2024 | | |
2023 | |
| |
Years ended December 31, | |
| |
2024 | | |
2023 | |
| |
US$ | | |
US$ | |
Gross Profit | |
| | | |
| | |
Remittance services | |
| 12,996,619 | | |
| 15,319,671 | |
Sales of Airtime | |
| 1,840,881 | | |
| 2,192,595 | |
Other services | |
| (245,555 | ) | |
| (155,962 | ) |
Gross Profit | |
| 14,591,945 | | |
| 17,356,304 | |
|
|
Schedule of forth the expenditures for long-lived assets other than goodwill |
|
The
following table sets forth the Expenditures for additions to long-lived assets other than goodwill and acquired intangible assets:
Schedule
of forth the expenditures for long-lived assets other than goodwill
| |
2024 | | |
2023 | |
| |
December 31, | |
| |
2024 | | |
2023 | |
| |
US$ | | |
US$ | |
Remittance services expense | |
| 582,256 | | |
| 302,950 | |
Sales of Airtime | |
| - | | |
| - | |
Other services | |
| - | | |
| - | |
Long-lived assets | |
| 582,256 | | |
| 302,950 | |
|
|
Schedule of forth the revenues by geographical area |
|
The
following table sets forth the revenues by geographical area:
Schedule
of forth the revenues by geographical area
| |
2024 | | |
2023 | |
| |
Years ended December 31, | |
| |
2024 | | |
2023 | |
| |
US$ | | |
US$ | |
Revenue | |
| | |
| |
Hong Kong | |
| 4,370,290 | | |
| 9,726,364 | |
Malaysia | |
| 27,560,318 | | |
| 29,317,906 | |
Indonesia | |
| 14,504,804 | | |
| 14,211,091 | |
Total Revenue | |
| 46,435,412 | | |
| 53,255,361 | |
|
|
Schedule of long lived assets geographical information |
|
The
following table sets forth the long-lived assets other than goodwill and intangible assets by geographical area:
Schedule
of forth the long-lived assets other than goodwill and intangible assets by geographical area
| |
2024 | | |
2023 | |
| |
December 31, | |
| |
2024 | | |
2023 | |
| |
US$ | | |
US$ | |
Long-lived assets other than goodwill and acquired intangible assets | |
| | | |
| | |
Hong Kong | |
| - | | |
| 4,368,106 | |
Malaysia | |
| 1,352,906 | | |
| 1,005,601 | |
Indonesia | |
| 51,854 | | |
| 62,056 | |
Long-lived assets other than goodwill and
acquired intangible assets gross | |
| 1,404,760 | | |
| 5,435,763 | |
| |
| | | |
| | |
Add: Non-disclose items | |
| | | |
| | |
Investment in an equity security | |
| - | | |
| 100,000 | |
Deferred tax assets | |
| 342,822 | | |
| 664,888 | |
Goodwill | |
| 12,059,428 | | |
| 27,001,383 | |
Acquired intangible assets | |
| 3,386,117 | | |
| 4,926,674 | |
Long-lived assets other
than goodwill and acquired intangible assets | |
| 15,788,367 | | |
| 33,001,041 | |
|
|
Schedule of forth the goodwill by reportable segments |
|
The
following table sets forth the goodwill by reportable segments:
Schedule
of forth the goodwill by reportable segments
| |
2024 | | |
2023 | |
| |
December 31, | |
| |
2024 | | |
2023 | |
| |
US$ | | |
US$ | |
Remittance services | |
| 12,919,935 | | |
| 12,921,592 | |
Sales of Airtime | |
| 8,639,493 | | |
| 14,079,791 | |
Total goodwill | |
| 21,559,428 | | |
| 27,001,383 | |
|
|
Schedule of goodwill reportable segments |
The
following table sets forth the goodwill by reportable segments:
Schedule
of goodwill reportable segments
| |
March 31,
2025 | | |
December 31, 2024 | |
| |
| US$ | | |
| US$ | |
Remittance services | |
| 12,919,935 | | |
| 12,919,935 | |
Sales of Airtime | |
| 8,639,493 | | |
| 8,639,493 | |
Goodwill | |
| 21,559,428 | | |
| 21,559,428 | |
|
|
|
Schedule of related party transactions |
Schedule
of related party transaction
| |
2025 | | |
2024 | |
| |
Three months ended March 31, | |
| |
2025 | | |
2024 | |
| |
US$ | | |
US$ | |
Sino Dynamic Solutions Limited | |
| | | |
| | |
Purchase of intangible assets | |
| - | | |
| 501,140 | |
Support and maintenance costs | |
| - | | |
| 230,115 | |
|
Schedule
of related party transaction
| |
2024 | | |
2023 | |
| |
Years ended December 31, | |
| |
2024 | | |
2023 | |
| |
US$ | | |
US$ | |
Sino Dynamic Solutions Limited | |
| | | |
| | |
Purchase of intangible assets | |
| 1,439,045 | | |
| 2,551,184 | |
Support and maintenance costs | |
| 606,857 | | |
| 919,654 | |
|
|
Schedule of related party balances |
Schedule
of related party balances
| |
March 31, 2025 | | |
December 31, 2024 | |
| |
US$ | | |
US$ | |
| |
| | |
| |
Amounts due from related parties | |
| | | |
| | |
Others | |
| 449,094 | | |
| 560,823 | |
Amounts
due from related parties | |
| 449,094 | | |
| 560,823 | |
| |
| | | |
| | |
Amounts due to related parties | |
| | | |
| | |
Regal Planet Limited | |
| 48,468,089 | | |
| 48,538,334 | |
GEA Limited | |
| 9,910,294 | | |
| 10,443,375 | |
Sino Dynamic Solutions Limited | |
| 877,166 | | |
| - | |
Mr. Alexander Kong | |
| 2,752,602 | | |
| 2,025,547 | |
Ripple Lab Inc. | |
| 13,079,060 | | |
| 4,985,988 | |
Others | |
| 1,385,455 | | |
| 1,703,830 | |
Amounts
due to related parties | |
| 76,472,666 | | |
| 67,697,074 | |
|
Schedule of Related Party Balances
| |
2024 | | |
2023 | |
| |
December 31, | |
| |
2024 | | |
2023 | |
| |
US$ | | |
US$ | |
Amounts due from related parties | |
| | | |
| | |
Sino Dynamic Solutions Limited | |
| - | | |
| 7,148,208 | |
Others | |
| 560,823 | | |
| 139,168 | |
Amounts due from related
parties | |
| 560,823 | | |
| 7,287,376 | |
| |
| | | |
| | |
Amounts due to related parties | |
| | | |
| | |
Regal Planet Limited | |
| 48,538,334 | | |
| 48,654,398 | |
GEA Limited | |
| 10,443,375 | | |
| - | |
Sino Dynamic Solutions Limited | |
| - | | |
| 4,130,912 | |
Mr. Alexander Kong | |
| 2,025,547 | | |
| 114,374 | |
Ripple Lab Inc. | |
| 4,985,988 | | |
| 32,584,911 | |
Others | |
| 1,777,397 | | |
| 1,003,924 | |
Amounts due to related
parties | |
| 67,770,641 | | |
| 86,488,519 | |
|
|
Seamless Group Inc [Member] |
|
|
|
Schedule of segment reporting for revenue |
|
|
Schedule
of segment reporting for revenue
| |
| | |
| |
| |
Years ended December 31, | |
| |
2023 | | |
2022 | |
| |
US$ | | |
US$ | |
Revenue | |
- | | |
- | |
Remittance services | |
| 26,695,196 | | |
| 26,714,151 | |
Sales of Airtime | |
| 26,398,707 | | |
| 28,501,152 | |
Other services | |
| 161,458 | | |
| 285,614 | |
Revenue | |
| 53,255,361 | | |
| 55,500,917 | |
| |
Years ended December 31, | |
| |
2023 | | |
2022 | |
| |
US$ | | |
US$ | |
Cost of sales | |
- | | |
- | |
Remittance services | |
| (11,375,525 | ) | |
| (13,268,205 | ) |
Sales of Airtime | |
| (24,206,112 | ) | |
| (26,370,613 | ) |
Other services | |
| (317,419 | ) | |
| (242,129 | ) |
Cost of sales | |
| (35,899,057 | ) | |
| (39,880,947 | ) |
| |
Years ended December 31, | |
| |
2023 | | |
2022 | |
| |
US$ | | |
US$ | |
Gross Profit | |
| - | | |
| - | |
Remittance services | |
| 15,319,671 | | |
| 13,445,946 | |
Sales of Airtime | |
| 2,192,595 | | |
| 2,130,539 | |
Other services | |
| (155,962 | ) | |
| 43,485 | |
Gross
Profit | |
| 17,356,304 | | |
| 15,619,970 | |
|
Schedule of long lived assets geographical information |
|
|
The
following table sets forth the long-lived assets other than goodwill and intangible assets by geographical area:
Schedule
of long lived assets geographical information
| |
| | | |
| | |
| |
December 31, | |
| |
2023 | | |
2022 | |
| |
US$ | | |
US$ | |
Long-lived
assets other than goodwill and acquired intangible assets | |
| | | |
| | |
Hong Kong | |
| 4,368,106 | | |
| 3,647,913 | |
Malaysia | |
| 1,005,601 | | |
| 1,276,989 | |
Indonesia | |
| 62,056 | | |
| 121,698 | |
Long-Lived Assets | |
| 5,435,763 | | |
| 5,046,600 | |
| |
| | | |
| | |
Add: Non-disclose items | |
| | | |
| | |
Investment in an equity security | |
| 100,000 | | |
| 100,000 | |
Deferred tax assets | |
| 972,984 | | |
| 768,617 | |
Goodwill | |
| 27,001,383 | | |
| 27,001,383 | |
Acquired intangible assets | |
| 4,926,674 | | |
| 6,467,231 | |
Long-lived assets other
than goodwill and acquired intangible assets | |
| 33,001,041 | | |
| 39,383,831 | |
|
Schedule for additions to long-lived assets other than goodwill and acquired intangible assets |
|
|
The
following table sets forth the Expenditures for additions to long-lived assets other than goodwill and acquired intangible assets:
Schedule
for additions to long-lived assets other than goodwill and acquired intangible assets
| |
| | | |
| | |
| |
December 31, | |
| |
2023 | | |
2022 | |
| |
US$ | | |
US$ | |
Remittance services expense | |
| 302,950 | | |
| 532,457 | |
Sales of Airtime | |
| - | | |
| - | |
Other services | |
| - | | |
| - | |
Expenditure
for additions to long-lived assets other than goodwill and acquired intangible assets | |
| 302,950 | | |
| 532,457 | |
|
Schedule of geographical information |
|
|
The
following table sets forth the revenues by geographical area:
Schedule
of geographical information
| |
| | |
| |
| |
Years ended December 31, | |
| |
2023 | | |
2022 | |
| |
US$ | | |
US$ | |
Revenue | |
| | |
| |
Hong Kong | |
| 9,726,364 | | |
| 8,647,764 | |
Malaysia | |
| 29,317,906 | | |
| 36,742,314 | |
Indonesia | |
| 14,211,091 | | |
| 10,110,839 | |
Revenue | |
| 53,255,361 | | |
| 55,500,917 | |
|
Schedule of goodwill reportable segments |
|
|
The
following table sets forth the goodwill by reportable segments:
Schedule
of goodwill reportable segments
| |
| | | |
| | |
| |
December 31, | |
| |
2023 | | |
2022 | |
| |
US$ | | |
US$ | |
Remittance services | |
| 12,921,592 | | |
| 12,921,592 | |
Sales of Airtime | |
| 14,079,791 | | |
| 14,079,791 | |
Goodwill | |
| 27,001,383 | | |
| 27,001,383 | |
|
Schedule of related party transactions |
|
|
Schedule of related party transactions
| |
| | | |
| | |
| |
Years ended December 31, | |
| |
2023 | | |
2022 | |
| |
US$ | | |
US$ | |
Sino Dynamic Solutions Limited | |
| | | |
| | |
Purchase of intangible assets | |
| 2,551,184 | | |
| - | |
Support and maintenance costs | |
| 919,654 | | |
| 919,404 | |
|
Schedule of related party balances |
|
|
Schedule of related party balances
| |
| | | |
| | |
| |
December 31, | |
| |
2023 | | |
2022 | |
| |
US$ | | |
US$ | |
Amounts due from related parties | |
| | | |
| | |
PT Walletku Indompet Indonesia | |
| - | | |
| - | |
Sino Dynamic Solutions Limited | |
| 7,148,208 | | |
| 4,382,762 | |
Others | |
| 139,168 | | |
| 100,466 | |
Amounts due from related
parties | |
| 7,287,376 | | |
| 4,483,228 | |
| |
| | | |
| | |
Amounts due to related parties | |
| | | |
| | |
Regal Planet Limited | |
| 48,654,398 | | |
| 49,079,276 | |
Sino Dynamic Solutions Limited | |
| 4,130,912 | | |
| 1,245,564 | |
Mr. Alexander Kong | |
| 114,374 | | |
| 114,508 | |
Ripple Lab Inc. | |
| 32,584,911 | | |
| 32,310,978 | |
Others | |
| 1,003,924 | | |
| 1,006,991 | |
Amounts due to related
parties | |
| 86,488,519 | | |
| 83,757,317 | |
|