v3.26.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities      
(Loss)/Profit before tax $ (15,105,249) $ (83,508,195) $ 1,125,434
Adjustments for:      
Depreciation of property and equipment 466,420 149,895 188,969
Depreciation of right-of-use assets 122,016 74,662 48,134
Gain on disposal of fixed asset (29,443)
Fixed asset written off 10,279
Amortization of intangible assets 1,540 54,986 92,734
Interest expense 296,152 218,630 149,626
Interest income (25,650) (35,940) (29,853)
Amount due from related party written off 2,131
Share-based compensation 10,868,000 83,155,336
Expected credit loss provision 59,645 562,755
Fair value adjustment (68,551) 117,973
Operating cash flows before movements in working capital (3,404,841) 792,233 1,575,044
Change in working capital:      
Increase in trade and other receivables (1,315,746) (892,894) (930,482)
Increase/(decrease) in trade and other payables 1,244,873 (446,240) 190,338
Decrease in amount due to related parties (8,142) (17,286) (43,956)
Cash used in operations (3,483,856) (564,187) 790,944
Income tax (32,545)
Net cash used in /provided by operating activities (3,516,401) (564,187) 790,944
Cash flows from investing activities      
Purchase of property and equipment (186,835) (1,052,484) (407,203)
Downpayment for right-of-use assets (96,498)
Premium paid for purchase of keyman insurance (85,913)
Proceeds from disposal of property and equipment 46,841 30,942
Acquired intangible asset (4,819)
Loan repaid from related parties 119,955 185,407 71,449
Net cash used in investing activities (116,537) (952,990) (309,631)
Cash flows from financing activities      
Proceeds from issuance of shares 5,750,000 208
Payment of deferred offering cost (909,861) (333,088)
Proceeds from debt 3,259,062 2,036,696
Repayment of debt (541,874) (1,255,766) (1,984,699)
Repayment of lease liabilities (125,597) (80,581) (51,050)
Net cash provided by financing activities 4,172,668 1,589,835 947
Net increase in cash and cash equivalents 539,730 72,658 482,260
Cash and cash equivalents at beginning of year 1,000,284 956,975 441,278
Effect of foreign exchange rate changes on cash and cash equivalents 89,004 (29,349) 33,437
Cash and cash equivalents at December 31, 2025 1,629,018 1,000,284 956,975
Non-cash investing and financing activities      
Fair value measurement of share-based compensation 10,868,000 83,155,336  
Fair value adjustment for other financial assets (2,035) 16,615  
Fair value adjustment for other financial liabilities 70,586 101,357  
Initial measurement of right-of-use asset and lease liability $ 137,937 $ 187,852 $ 76,713