| Schedule of Revision Consolidated Statements of Cash Flows |
The
effects of the revision on the consolidated statements of cash flows were as follows:
Schedule
of Revision Consolidated Statements of Cash Flows
June
30, 2025
| | |
As reported | | |
Adjustment | | |
As revised | |
| Cash flows from investing activities: | |
| | | |
| | | |
| | |
| Purchase of fixed assets | |
$ | (2,095,807 | ) | |
$ | - | | |
$ | (2,095,807 | ) |
| Acquisition of investment | |
| | | |
| | | |
| | |
| Increase investment in subsidiary | |
| | | |
| | | |
| | |
| Advance to related parties | |
$ | - | | |
$ | (6,245,369 | ) | |
$ | (6,245,369 | ) |
| Net cash used in investing activities | |
$ | (2,095,807 | ) | |
$ | (6,245,369 | ) | |
$ | (8,341,176 | ) |
| | |
| | | |
| | | |
| | |
| Cash flows from financing activities: | |
| | | |
| | | |
| | |
| Gross proceeds from issuance of common shares pursuant to initial public offering | |
$ | 11,586,250 | | |
$ | - | | |
$ | 11,586,250 | |
| Proceeds from borrowings | |
$ | 7,443,090 | | |
$ | - | | |
$ | 7,443,090 | |
| Repayment to finance lease payables | |
$ | (5,561 | ) | |
$ | - | | |
$ | (5,561 | ) |
| Advance to related parties | |
$ | (6,245,369 | ) | |
$ | 6,245,369 | | |
$ | - | |
| Net cash provided by financing activities | |
$ | 12,778,410 | | |
$ | 6,245,369 | | |
$ | 19,023,779 | |
TMD
Energy Limited
Notes
to Unaudited Consolidated Financial Statements
For
the Six Months Ended June 30, 2025 and the Years Ended December 31, 2024 and 2023
Note
2 - Summary of Significant Accounting Policies (Continued)
December
31, 2024
| | |
As reported | | |
Adjustment | | |
As revised | |
| Cash flows from investing activities: | |
| | | |
| | | |
| | |
| Purchase of fixed assets | |
$ | (3,751,944 | ) | |
$ | - | | |
$ | (3,751,944 | ) |
| Acquisition of investment | |
$ | (83,089 | ) | |
$ | - | | |
$ | (83,089 | ) |
| Increase investment in subsidiary | |
$ | 74,120 | | |
$ | - | | |
$ | 74,120 | |
| Advance to related parties | |
$ | - | | |
$ | (12,245,223 | ) | |
$ | (12,245,223 | ) |
| Net cash used in investing activities | |
$ | (3,760,913 | ) | |
$ | (12,245,223 | ) | |
$ | (16,006,136 | ) |
| | |
| | | |
| | | |
| | |
| Cash flows from financing activities: | |
| | | |
| | | |
| | |
| Proceeds from borrowings | |
$ | 50,910,672 | | |
$ | - | | |
$ | 50,910,672 | |
| Repayment to finance lease payables | |
$ | (10,216 | ) | |
$ | - | | |
$ | (10,216 | ) |
| Advance to related parties | |
$ | (12,245,223 | ) | |
$ | 12,245,223 | | |
$ | - | |
| Net cash provided by financing activities | |
$ | 38,655,233 | | |
$ | 12,245,223 | | |
$ | 50,900,456 | |
|
| Schedule of Revenue By Reportable Segments |
Schedule of Revenue By Reportable Segments
| | |
| | |
| | |
| |
| | |
For
the Six Months Ended | | |
For
the Years Ended | |
| | |
June
30, 2025 | | |
December 31,
2024 | | |
December 31,
2023 | |
| | |
(Unaudited) | | |
(Audited) | | |
(Audited) | |
| Revenue | |
$ | 276,340,120 | | |
$ | 688,607,542 | | |
$ | 633,079,773 | |
| Cost of revenues | |
| (272,356,649 | ) | |
| (672,562,832 | ) | |
| (620,989,960 | ) |
| Selling and marketing expenses | |
| (38,067 | ) | |
| (39,664 | ) | |
| (101,302 | ) |
| General and administrative expenses | |
| (3,330,264 | ) | |
| (5,249,099 | ) | |
| (5,127,137 | ) |
| Depreciation expenses | |
| (2,558,809 | ) | |
| (4,758,014 | ) | |
| (4,257,189 | ) |
| Other (expenses) income | |
| (2,577,706 | ) | |
| (3,952,786 | ) | |
| 354,527 | |
| Net (loss) income of
single operating segment | |
$ | (4,521,375 | ) | |
$ | 2,045,147 | | |
$ | 2,958,712 | |
|