Deposits, Prepayment, Other Receivables and Deferred IPO Cost, Net

12 Months Ended

Dec. 31, 2024

Deposits, Prepayment, Other Receivables and Deferred IPO Cost, Net [Abstract]

DEPOSITS, PREPAYMENT, OTHER RECEIVABLES AND DEFERRED IPO COST, NET

NOTE 6 — DEPOSITS, PREPAYMENT, OTHER RECEIVABLES AND DEFERRED IPO COST, NET

Deposits, prepayment, other receivables and deferred IPO cost, net consist of the following:

	December 31,
	2024			2023
Current
Other receivables	$	121,533		$	15,910
Deposits		73,917			123,008
Deferred initial public offering “IPO” cost		-			373,677
Less: allowance for expected credit loss		(4	)		(14	)
	$	195,446		$	512,581

Deposit with a digital asset trading platform	$	1,000,000		$	-

Receivable from agents	$	1,191,795		$	-

Prepayments	$	197,706		$	1,262,228

Non-current
Prepayment	$	33,333		$	1,582,156
	$	33,333		$	1,582,156

Included in prepayment is an amount of $22,000 and $2,839,536 as of December 31, 2024 and 2023 respectively, being share-based compensation cost paid to consultants for services ranging from three to ten years and with termination clauses of one to three years respectively without any penalties. During the year, the scope of service was amended and accordingly the excess compensation was reversed against Additional Paid in Capital and the remaining value of service is recognized over the period of service in the Statement of Income.

The movement of allowances for expected credit loss is as follow:

	December 31,
	2024			2023
Balance at beginning of the year	$	(14	)	$	(141	)
Reversal of provision (Provision)		10			127
Ending balance	$	(4	)	$	(14	)