v3.26.1
Capital Surplus
 12 Months Ended
Dec. 31, 2025
Capital Surplus [Abstract]  
Capital surplus
20.Capital surplus

 

Except as required by the Company’s Articles of Association or Cayman’s law, capital surplus shall not be used for any other purpose but covering accumulated deficit. Capital surplus should not be used to cover accumulated deficit unless the legal reserve is insufficient.

 

   2023 
   Share
premium		   Employee
stock
options		   Employee
stock
options-
expired		   Changes in
ownership
interest in
subsidiaries		   Total 
                     
January 1  $5,998,682   $346,606   $6,997   $135,628   $6,487,913 
Issuance of ordinary shares   600,952    
-
    
-
    
-
    600,952 
Preferred shares conversion   26,907,495    
-
    
-
    
-
    26,907,495 
Acquisition of subsidiaries   70,619,903    
-
    
-
    
-
    70,619,903 
Changes in non-controlling interests   
-
    
-
    
-
    708,719    708,719 
Share-based payments   162,029    118,800    
-
    
-
    280,829 
Employee stock options exercised   62,923    (62,923)   
-
    
-
    
-
 
Employee stock options forfeited   
-
    (1,482)   1,482    
-
    
-
 
December 31  $104,351,984   $401,001   $8,479   $844,347   $105,605,811 

 

   2024 
   Share
premium		   Employee
stock
options		   Employee
stock
options-
expired		   Restricted
stocks		   Changes in
ownership
interest in
subsidiaries		   Total 
                         
January 1  $104,351,984   $401,001   $8,479   $
-
   $844,347   $105,605,811 
Share-based payments   22,884    212,374    
-
    
-
    
-
    235,258 
Employee stock options exercised   6,091    (6,091)   
-
    
-
    
-
    
-
 
Employee stock options forfeited   
-
    (16,942)   16,942    
-
    
-
    
-
 
Restricted stocks   
-
    
-
    
-
    147,816    
-
    147,816 
Issuance of ordinary shares, net of issuance costs (Note 1)   45,060,227    
-
    
-
    
-
    
-
    45,060,227 
Reverse share split as part of the recapitalization   19,489    
-
    
-
    
-
    
-
    19,489 
Commitment shares (Note 2)   450,000    
-
    
-
    
-
    
-
    450,000 
Acquisition of subsidiaries (Note 3)   3,184,536    
-
    
-
    
-
    
-
    3,184,536 
December 31  $153,095,211   $590,342   $25,421   $147,816   $844,347   $154,703,137 
   2025 
   Share
premium		   Employee
stock
options		   Employee
stock
options-
expired		   Restricted
stocks		   Changes in
ownership
interest in
subsidiaries		   Total 
                         
January 1  $153,095,211   $590,342   $25,421   $147,816   $844,347   $154,703,137 
Share-based payments   
-
    279,597    
-
    
-
    
-
    279,597 
Employee stock options forfeited   
-
    (178,176)   178,176    
-
    
-
    
-
 
Restricted stocks   
-
    
-
    
-
    132,253    
-
    132,253 
Issuance of ordinary shares-Second Note to 3i   3,469,082    
-
    
-
    
-
    
-
    3,469,082 
Issuance of ordinary shares-Tumim ELOC   2,608,494    
-
    
-
    
-
    
-
    2,608,494 
Issuance of ordinary shares-Private Placement   1,499,621    
-
    
-
    
-
    
-
    1,499,621 
Issuance of ordinary shares for service fee   181,901    
-
    
-
    
-
    
-
    181,901 
Issuance of ordinary shares to settle subsidiary’s debt   655,409    
-
    
-
    
-
    
-
    655,409 
Commitment shares   (12)   
-
    
-
    
-
    
-
    (12)
Acquisition of subsidiaries (Note 3)   123,107    
-
    
-
    
-
    
-
    123,107 
December 31  $161,632,813   $691,763   $203,597   $280,069   $844,347   $163,652,589 

 

Note 1: In connection with the Recapitalization, the Company recognized capital surplus of $45,060,227 due to issuance of ordinary shares. Please refer to Note 19 e) for details.

 

Note 2: On November 25, 2024, the Company entered an Agreement with Tumim (the “Tumim ELOC SPA”) and became obligated to issue a number of the Company’s ordinary shares (the “Commitment Shares”) to Tumim as consideration for its irrevocable commitment for the equity line of credit. The Commitment Shares amounted to $450,000 was accounted under IFRS 2 in capital surplus. Please refer to Note 19 l) for details.

 

Note 3: In 2024, connection with the acquisition of Green Quest, the Company recognized capital surplus of $3,184,536 for the purchase price consideration. In 2025, All Earn-Out Shares were issued, and the Company recognized capital surplus of $123,107. Please refer to Note 13 b) and Note 32 for details.