Accounts payable, accruals and other payables (Tables)
|
12 Months Ended |
Dec. 31, 2024 |
Dec. 31, 2023 |
Schedule of accounts payable and other payables |
Accounts
payable, accruals and other payables consisted of the following:
Schedule
of accounts
payable, accruals and other payables
| |
| | |
| |
| |
December 31, | |
| |
2024 | | |
2023 | |
| |
US$ | | |
US$ | |
| |
| | |
| |
Accounts payable | |
| 13,701 | | |
| 10,541 | |
Safeguarding liabilities | |
| 3,790,176 | | |
| 1,983,116 | |
Accruals | |
| 5,870,005 | | |
| 5,424,194 | |
Prefunding from remittance customers | |
| 44,259,266 | | |
| 35,584,882 | |
Incentives received for credit card program | |
| - | | |
| 699,655 | |
Prefunding from airtime customers | |
| 671,214 | | |
| 758,419 | |
Current portion of finance lease liabilities | |
| - | | |
| - | |
Cash received for the subscription of Convertible Promissory Note | |
| - | | |
| 1,056,765 | |
Accrued interest | |
| 3,824,009 | | |
| 7,614,719 | |
Tax payable | |
| 155,641 | | |
| 29,808 | |
Other payables | |
| 535,904 | | |
| 826,132 | |
Accounts payable, accruals
and other payables | |
| 59,119,916 | | |
| 53,988,231 | |
|
|
Schedule of convertible bonds |
Schedule
of convertible bonds
| |
2024 | | |
2023 | |
| |
| |
| |
December 31, | |
| |
2024 | | |
2023 | |
| |
US$ | | |
US$ | |
| |
| | |
| |
Convertible Bond E | |
| - | | |
| 10,000,000 | |
Convertible Promissory Note | |
| 1,750,000 | | |
| 10,000,000 | |
Total principal | |
| 1,750,000 | | |
| 10,000,000 | |
Less: unamortized debt discount | |
| - | | |
| - | |
Net carrying amount | |
| 1,750,000 | | |
| 10,000,000 | |
Less: maturing within one year | |
| - | | |
| (10,000,000 | ) |
Mature after one year | |
| 1,750,000 | | |
| - | |
|
|
Schedule of assumptions used in determining the fair value convertible note |
As of August 31, 2024, and December 31, 2024,
the key assumptions used in the valuation were as follows:
Schedule
of assumptions used in determining the fair value convertible note
Key Assumptions | |
August 31, 2024 | | |
December 31, 2024 | |
Stock Price (USD) | |
| 6.28 | | |
| 1.80 | |
Risk-Free Rate (%) | |
| 4.11 | | |
| 4.09 | |
Volatility Rate (%) | |
| 36.86 | | |
| 47.23 | |
Bond Yield (%) | |
| 15.55 | | |
| 13.90 | |
|
|
Seamless Group Inc [Member] |
|
|
Schedule of accounts payable and other payables |
|
Accounts
payable, accruals and other payables consisted of the following:
Schedule
of accounts payable and other payables
| |
| | | |
| | |
| |
December 31, | |
| |
2023 | | |
2022 | |
| |
US$ | | |
US$ | |
| |
| | |
| |
Accounts payable | |
| 10,541 | | |
| 17,871 | |
Safeguarding liabilities | |
| 1,983,116 | | |
| 5,787,354 | |
Accruals | |
| 5,424,194 | | |
| 4,878,896 | |
Prefunding from remittance customers | |
| 35,584,882 | | |
| 40,910,632 | |
Incentives received for credit card program | |
| 699,655 | | |
| 700,521 | |
Prefunding from airtime customers | |
| 758,419 | | |
| 874,889 | |
Current portion of finance lease liabilities | |
| - | | |
| - | |
Cash received for the subscription of Convertible Promissory Note | |
| 1,056,765 | | |
| 1,058,005 | |
Accrued interest | |
| 7,614,719 | | |
| 3,990,177 | |
Tax payable | |
| 29,808 | | |
| 11,102 | |
Other payables | |
| 826,132 | | |
| 716,938 | |
Accounts
payable, accruals and other payables | |
| 53,988,231 | | |
| 58,946,385 | |
|
Schedule of convertible bonds |
|
Schedule
of convertible bonds
| |
| | | |
| | |
| |
December 31, | |
| |
2023 | | |
2022 | |
| |
US$ | | |
US$ | |
| |
| | |
| |
Convertible Bond A | |
| - | | |
| - | |
Convertible Bond B | |
| - | | |
| - | |
Convertible Bond C | |
| - | | |
| - | |
Convertible Bond D | |
| - | | |
| 10,000,000 | |
Convertible Bond E | |
| 10,000,000 | | |
| | |
Total principal | |
| 10,000,000 | | |
| 10,000,000 | |
Less: unamortized debt discount | |
| - | | |
| (807,860 | ) |
Net carrying amount | |
| 10,000,000 | | |
| 9,192,140 | |
Less: maturing within one year | |
| (10,000,000 | ) | |
| 9,192,140 | |
Convertible bonds | |
| - | | |
| - | |
|
Schedule of debt |
|
Changes
in total principal balance of convertible bond:
Schedule of debt
| |
| | | |
| | | |
| | |
| |
Convertible
Bond D | | |
Convertible
Bond E | | |
Total | |
| |
US$ | | |
US$ | | |
US$ | |
Total principal balance as of December 31, 2022 and January 1, 2023 | |
| 10,000,000 | | |
| - | | |
| 10,000,000 | |
Repayment during the year | |
| - | | |
| - | | |
| - | |
Conversion to non-convertible loan | |
| - | | |
| - | | |
| - | |
Convertible Bond replacement | |
| (10,000,000 | ) | |
| 10,000,000 | | |
| - | |
Total principal balance as of December 31, 2023 | |
| - | | |
| 10,000,000 | | |
| 10,000,000 | |
|