v3.25.2
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:      
Loss before taxation $ (10,576,000) $ (1,834,000) $ (809,000)
Adjustments for      
Operating lease charge 235,000 72,000
Depreciation of property, plant and equipment 178,000 51,000 38,000
Fair value gain on unlisted financial assets (19,000)
Gain on disposal of subsidiaries (10,430,000)
Loan forgiveness by related party (164,000)
Loan on disposal of PPE 48,000
Loss on convertible note conversion 488,000 179,000
Interest expense on convertible note 157,000
Bad debt reversal (409,000)
Standstill fee on note payable 185,000 96,000
Share based compensation 5,991,000 6,985,000 324,000
Interest expense on lease liabilities 147,000 4,000
Amortization of OID of convertible note 44,000 63,000 2,000
Operating cash flows before working capital changes (3,103,000) (5,054,000) (797,000)
Decrease in trade receivables 638,000
Increase in other receivables and prepayments (4,317,000) (172,000) (133,000)
Increase in loan receivable (12,377,000) (5,193,000)
Increase (decrease) in trade payables 831,000 (435,000) 69,000
Increase (decrease) in unearned revenue 2,585,000 27,000 (2,311,000)
Increase (decrease) in taxes payable 26,000 228,000 (142,000)
Increase (decrease) in accrued liabilities and other payables 875,000 103,000 (312,000)
Cash used in operations (15,480,000) (10,496,000) (2,988,000)
Interest paid
Income tax paid (3,000) (20,000) (48,000)
Net cash (used in) generated from operating activities from discontinued operations 1,994,000 740,000
Net cash used in operating activities (15,483,000) (8,522,000) (2,296,000)
CASH FLOWS FROM INVESTING ACTIVITIES:      
Acquisition of fixed assets (4,202,000) (71,000) (3,000)
Acquisition of intangible assets (1,000)
Decrease in notes receivable 1,514,000 1,328,000
Decrease (increase) in available-for-sale financial asset 99,000 1,105,000 (1,247,000)
Decrease (increase) in restricted cash 292,000 (307,000)
Cash disposed as a result of disposal of subsidiaries (36,000)
Net cash used in investing activities from discontinued operations
Net cash (used in) generated from investing activities (2,589,000) 2,618,000 (1,558,000)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Payment for lease liabilities (250,000) (53,000)
Insurance of share capital for equity financing 12,986,000 8,322,000 851,000
Warrants exercised 1,228,000
Capital contribution from noncontrolling interest 364,000
Proceeds from promissory note 5,620,000 1,003,000 1,302,000
Repayment of promissory note (800,000)
Due from related parties (1,320,000)
Advance from related parties 194,000 60,000
Net cash used in financing activities from discontinued operations (2,020,000) (2,126,000)
Net cash generated from financing activities 18,978,000 6,045,000 338,000
NET INCREASE (DECREASE) IN CASH AND BANK BALANCES 906,000 141,000 (3,516,000)
CASH AND BANK BALANCES BEGINNING OF YEAR 538,000 615,000 4,375,000
EFFECT OF FOREIGN EXCHANGE RATE DIFFERENCES (397,000) (218,000) (244,000)
CASH AND BANK BALANCES, END OF YEAR $ 1,047,000 $ 538,000 $ 615,000