| Schedule of Carrying Amounts and Fair Value of Financial Instruments |
The following is a comparison by class
of the carrying amounts and fair value of the Company’s financial instruments as at December 31, 2025 and 2024:
| | |
| |
December 31, 2025 | | |
December 31, 2024 | |
| Financial assets | |
Level | |
Carrying
amount | | |
Fair value | | |
Carrying
amount | | |
Fair value | |
| Financial assets measured at amortised cost: | |
| |
| | |
| | |
| | |
| |
| Cash and cash held in trust | |
1 | |
$ | 504,136 | | |
$ | 504,136 | | |
$ | 3,841,866 | | |
$ | 3,841,866 | |
| Trade and other receivables | |
2 | |
| 1,399,977 | | |
| 1,399,977 | | |
| 370,537 | | |
| 370,537 | |
| Loan receivable | |
2 | |
| — | | |
| — | | |
| 955,022 | | |
| 955,022 | |
| | |
| |
| | | |
| | | |
| | | |
| | |
| Financial liabilities | |
| |
| | | |
| | | |
| | | |
| | |
| Financial liabilities measure at amortised cost: | |
| |
| | | |
| | | |
| | | |
| | |
| Trade and other payables | |
2 | |
| 3,309,037 | | |
| 3,309,037 | | |
| 2,982,499 | | |
| 2,982,499 | |
| Loans and borrowings | |
2 | |
| 1,006,920 | | |
| 1,006,920 | | |
| 352,814 | | |
| 352,814 | |
| Secured promissory notes | |
2 | |
| 7,633,966 | | |
| 7,633,966 | | |
| — | | |
| — | |
| Lease liabilities | |
2 | |
| 396,121 | | |
| 396,121 | | |
| — | | |
| — | |
| Due to related parties | |
2 | |
| 640,546 | | |
| 640,546 | | |
| 302,232 | | |
| 302,232 | |
| | |
| |
| | | |
| | | |
| | | |
| | |
| Financial liabilities measure at FVTPL: | |
| |
| | | |
| | | |
| | | |
| | |
| Convertible promissory notes | |
2 | |
| 1,055,420 | | |
| 1,055,420 | | |
| — | | |
| — | |
| Secured convertible debenture | |
2 | |
| 4,143,982 | | |
| 4,143,982 | | |
| — | | |
| — | |
|