v3.26.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 1,401 $ 678
Accounts receivable, net 10,689 7,692
Prepaid expenses and other current assets, net 2,514 3,491
Amount due from related parties 30 30
Loan to a related party, net 6,004 0
Inventory 189 319
Total current assets 20,827 12,210
Non-current assets:    
Property, plant and equipment 524 578
Right-of-use asset 0 37
Loan to a related party, net 0 5,972
Other receivable – non-current, net 0 891
Total non-current assets 524 7,478
TOTAL ASSETS 21,351 19,688
Current liabilities:    
Bank loans - current 1,578 219
Operating lease liabilities - current 0 37
Finance lease liabilities - current 31 29
Accounts payable 11,721 9,134
Accruals and other current liabilities 2,907 1,691
Amount due to related parties 1,400 545
Income taxes payable 10 35
Total current liabilities 17,647 11,690
Non-current liabilities    
Bank loans – non-current 3 103
Finance lease liabilities – non-current 49 72
Amount due to a related party 1,096 1,096
Total non-current liabilities 1,148 1,271
TOTAL LIABILITIES 18,795 12,961
Commitments and contingencies  
Shareholders’ equity    
Additional paid-in capital 4,022 3,151
Merger reserve 1,113 1,113
Retained earnings/(accumulated deficit) (2,583) 2,452
Accumulated other comprehensive income 4 11
Total shareholders’ equity 2,556 6,727
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 21,351 $ 19,688