Other Assets (Tables)
|
3 Months Ended |
Mar. 31, 2026 |
|---|
| Other Assets [Abstract] |
|
| Scheudule of Other Current Assets |
Other current assets consists of the following:
| | |
March 31,
2026 | | |
December 31,
2025 | |
| Deferred financing costs related to undrawn debt facilities (*) | |
| 1,319,748 | | |
| 2,303,132 | |
| Prepayments | |
| 747,061 | | |
| 692,147 | |
| Other (**) | |
| 477,851 | | |
| 644,138 | |
| Total | |
| 2,544,660 | | |
| 3,639,417 | |
| (*) | Deferred financing costs primarily represent the fair value of equity shares issued to lenders in connection with committed debt facilities
for which borrowings were discretionary and had not been drawn as of the reporting date. The portion of deferred financing costs expected
to be reclassified within the next twelve months is presented as current, with the remainder presented as non-current. Refer to Note
11 for additional information. |
| (**) | Included within Other assets is an advance salary payment to a member of key management totaling US$316,667 (December 31, 2025: US$316,667).
The advance is non-interest-bearing and was fully recovered in April 2026. |
|
| Schedule of Other Non-Current Assets |
Other non-current assets consists of the following:
| | |
March 31,
2026 | | |
December 31,
2025 | |
| Deferred financing costs related to undrawn debt facilities (*) | |
| 11,950,000 | | |
| 11,950,000 | |
| Total | |
| 11,950,000 | | |
| 11,950,000 | |
| (*) | Deferred financing costs primarily represent the fair value of equity shares issued to lenders in connection with committed debt facilities
for which borrowings were discretionary and had not been drawn as of the reporting date. The portion of deferred financing costs expected
to be reclassified within the next twelve months is presented as current, with the remainder presented as non-current. Refer to Note
11 for additional information. |
| (**) | Included within Other assets is an advance salary payment to a member of key management totaling US$316,667 (December 31, 2025: US$316,667).
The advance is non-interest-bearing and was fully recovered in April 2026. |
|
| Schedule of Deferred Financing Cost Movement |
The table below shows the deferred financing cost
movement for the years ended March 31, 2026 and December 31, 2025.
| | |
March 31, 2026 | | |
December 31,
2025 | |
| Opening | |
| 14,253,132 | | |
| 3,806,246 | |
| Costs incurred related to committed debt facilities | |
| - | | |
| 19,964,000 | |
| Reclassification to debt upon borrowings | |
| (983,384 | ) | |
| (7,590,005 | ) |
| Financing expense (*) | |
| - | | |
| (1,927,109 | ) |
| Ending balance | |
| 13,269,748 | | |
| 14,253,132 | |
| (*) | Financing expense represents the excess of the fair value of instruments issued (including subscriber shares and commitment shares) over
the proceeds allocated to the related convertible note for respective tranches. |
|