| SCHEDULE OF RECONCILIATION OF BASIC AND DILUTED COMMON SHARES OUTSTANDING |
The
following tables provides a reconciliation of the data used in the calculation of basic and diluted ordinary shares outstanding for the
years ended December 31, 2025, 2024, and 2023 (in US$ thousands except shares and per share amounts):
SCHEDULE OF RECONCILIATION OF BASIC AND DILUTED COMMON SHARES OUTSTANDING
| Date | |
Transaction Detail | |
Change in
Shares | | |
Year ended December 31, 2025, Weighted Average
Ordinary Shares
Outstanding | |
| January 1, 2025 | |
Beginning Balance | |
| | | |
| 96,045,856 | |
| January 6, 2025 | |
Settlement of liability-classified share-based compensation | |
| 61,353 | | |
| 60,344 | |
| February 17, 2025 | |
Equity-classified Restricted Stock Issuance | |
| 666 | | |
| 578 | |
| February 27, 2025 | |
Equity-classified Restricted Stock Issuance | |
| 1,000 | | |
| 841 | |
| March 17, 2025 | |
Equity-classified Restricted Stock Issuance | |
| 12,430 | | |
| 9,842 | |
| March 18, 2025 | |
Equity-classified Restricted Stock Issuance | |
| 231,661 | | |
| 182,790 | |
| April 22, 2025 | |
Settlement of liability-classified share-based compensation | |
| 100,001 | | |
| 69,316 | |
| July 1, 2025 | |
Warrant exchange (Note 15) | |
| 3,543,571 | | |
| 1,776,640 | |
| August 14, 2025 | |
Equity-classified Restricted Stock Issuance | |
| 777,245 | | |
| 295,992 | |
| September 5, 2025 | |
Equity-classified Restricted Stock Issuance | |
| 1,977 | | |
| 634 | |
| September 12, 2025 | |
Equity-classified Restricted Stock Issuance | |
| 1,999 | | |
| 602 | |
| October 3, 2025 | |
Equity-classified Restricted Stock Issuance | |
| 1,499 | | |
| 366 | |
| October 3, 2025 | |
Equity-classified Restricted Stock Issuance | |
| 333 | | |
| 81 | |
| October 20, 2025 | |
Equity-classified Restricted Stock Issuance | |
| 1,166 | | |
| 230 | |
| November 21, 2025 | |
Equity-classified Restricted Stock Issuance | |
| 666 | | |
| 73 | |
| December 1, 2025 | |
Equity-classified Restricted Stock Issuance | |
| 3,250 | | |
| 267 | |
| December 12, 2025 | |
Equity-classified Restricted Stock Issuance | |
| 2,500 | | |
| 130 | |
| December 31, 2025 | |
Ending Balance | |
| | | |
| 98,444,582 | |
| Date | |
Transaction Detail | |
Change in Shares | | |
Year
ended
December 31, 2024, Weighted
Average
Ordinary Shares
Outstanding | |
| January 1, 2024 | |
Beginning Balance | |
| | | |
| 94,996,397 | |
| January 9, 2024 | |
Equity-classified Restricted Stock Issuance | |
| 333 | | |
| 325 | |
| March 17, 2024 | |
Equity-classified Restricted Stock Issuance | |
| 12,751 | | |
| 10,068 | |
| March 18, 2024 | |
Equity-classified Restricted Stock Issuance | |
| 242,455 | | |
| 190,784 | |
| March 19, 2024 | |
Equity-classified Restricted Stock Issuance | |
| 235,741 | | |
| 184,857 | |
| April 1, 2024 | |
Equity-classified Restricted Stock Issuance | |
| 1,774 | | |
| 1,343 | |
| April 23, 2024 | |
Equity-classified Restricted Stock Issuance | |
| 1,333 | | |
| 918 | |
| May 2, 2024 | |
Return of shares from W.D. Van Gonten Engineering | |
| (82,331 | ) | |
| (54,662 | ) |
| August 14, 2024 | |
Equity-classified Restricted Stock Issuance | |
| 38,758 | | |
| 14,720 | |
| October 1, 2024 | |
Settlement of liability-classified share-based compensation | |
| 118,647 | | |
| 29,500 | |
| October 3, 2024 | |
Settlement of liability-classified share-based compensation | |
| 30,000 | | |
| 7,295 | |
| October 21, 2024 | |
Settlement of liability-classified share-based compensation | |
| 449,998 | | |
| 90,982 | |
| December 31, 2024 | |
Ending Balance | |
| | | |
| 95,472,527 | |
| Date | |
Transaction Detail | |
Change in
Shares | | |
Year ended
December 31, 2023, Weighted
Average
Ordinary Shares
Outstanding | |
| January 1, 2023 | |
Beginning Balance | |
| | | |
| 94,012,752 | |
| January 23, 2023 | |
Equity-classified Restricted Stock Issuance | |
| 500 | | |
| 468 | |
| February 2, 2023 | |
Equity-classified Restricted Stock Issuance | |
| 22,440 | | |
| 20,411 | |
| February 24, 2023 | |
Equity-classified Restricted Stock Issuance | |
| 250 | | |
| 212 | |
| March 1, 2023 | |
Equity-classified Restricted Stock Issuance | |
| 333 | | |
| 278 | |
| March 16, 2023 | |
Equity-classified Restricted Stock Issuance | |
| 247,286 | | |
| 196,474 | |
| March 17, 2023 | |
Equity-classified Restricted Stock Issuance | |
| 578,436 | | |
| 457,995 | |
| April 12, 2023 | |
Equity-classified Restricted Stock Issuance | |
| 666 | | |
| 480 | |
| June 1, 2023 | |
Equity-classified Restricted Stock Issuance | |
| 40,000 | | |
| 23,342 | |
| June 22, 2023 | |
Equity-classified Restricted Stock Issuance | |
| 1,484 | | |
| 781 | |
| August 14, 2023 | |
Equity-classified Restricted Stock Issuance | |
| 92,250 | | |
| 35,131 | |
| December 31, 2023 | |
Ending Balance | |
| | | |
| 94,748,324 | |
|
| SCHEDULE OF BASIC AND DILUTED EARNINGS PER COMMON SHARE |
SCHEDULE OF BASIC AND DILUTED EARNINGS PER COMMON SHARE
| | |
December 31, 2025 | | |
December 31, 2024 | | |
December 31, 2023 | |
| | |
Net income to Ordinary Shareholders | | |
Weighted-average ordinary shares outstanding | | |
EPS | | |
Net income to Ordinary Shareholders | | |
Weighted-average ordinary shares outstanding | | |
EPS | | |
Net income to Ordinary Shareholders | | |
Weighted-average ordinary shares outstanding | | |
EPS | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| |
| Basic EPS - ordinary shares | |
$ | 51,132 | | |
| 98,444,582 | | |
$ | 0.52 | | |
$ | 76,310 | | |
| 95,472,527 | | |
$ | 0.80 | | |
$ | 12,580 | | |
| 94,748,324 | | |
$ | 0.13 | |
| Restricted stock units | |
| | | |
| 660,902 | | |
| | | |
| | | |
| 263,397 | | |
| | | |
| | | |
| - | | |
| | |
| Antidilution sequencing - subtotal | |
| 51,132 | | |
| 99,105,484 | | |
| 0.52 | | |
| 76,310 | | |
| 95,735,924 | | |
| 0.80 | | |
| 12,580 | | |
| 94,748,324 | | |
| 0.13 | |
| 35,540,380 warrants @ $5.75 per half share | |
| | | |
| | | |
| | | |
| | | |
| - | | |
| | | |
| | | |
| - | | |
| | |
| Diluted EPS - ordinary shares | |
$ | 51,132 | | |
| 99,105,484 | | |
$ | 0.52 | | |
$ | 76,310 | | |
| 95,735,924 | | |
$ | 0.80 | | |
$ | 12,580 | | |
| 94,748,324 | | |
$ | 0.13 | |
|