v3.26.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating activities      
Profit/(loss) before income tax $ (29,621,520) $ 7,685,243 $ 7,102,486
Adjustments for:      
Impairment loss on intangible assets 918,324
Provision for allowance for expected credit losses - trade receivables 5,155,117 549,924 342,353
Provision for allowance for expected credit losses - other receivables 3,268,968 369,347
Provision for allowance for expected credit losses - loan receivables 31,867 53,252 59,317
Non-cash revenue received in shares (4,476,756)
Acquisition of financial assets in shares (31,974,000)
Reversal on impairment allowance of trade receivables (60,808)
Reversal on impairment allowance of other receivables (265,920)
Reversal on impairment allowance of loan receivables (5,780)
Loss on investment 868,346
Fair value loss on financial assets, at fair value through profit or loss 14,407
Share-based compensation awards 6,651,698 1,890,495 970,024
Share option expenses 308,878
Director fees paid in shares 4,487,613
Share based payment – consultancy fees 4,511,659 2,900,939
Fair value loss on derivative liabilities through profit and loss 1,067,076  
Write-off on intangible assets 45,765 4,251
Depreciation of property and equipment 130,652 89,414 69,315
Depreciation of right-of-use assets 405,866 148,644 92,571
Amortisation of intangible assets 955,970 207,989
Change in working capital, net of effects from acquisition and disposal of subsidiaries 42,108,520 399,540
Bad debt written off 4,271,583
Conversion of convertible notes  
Issuance of warrant liabilities 503,709
Loss on dissolve of subsidiaries 1,033
Change in fair value of warrant liabilities 33,977
Interest expense 619,994 131,912 19,787
Interest income (4,908) (4,140) (1,596)
Operating cash flows before movements in working capital 9,901,913 14,476,227 8,654,257
Trade and other receivables (15,982,127) 11,989,387 (3,119,228)
Inventories (257,485)
Loan receivables (8,717,135) (8,029,277)
Trade and other payables 8,821,916 4,693,637 3,829,793
Cash generated from/(used in) operations 2,484,217 22,442,116 1,335,545
Income tax (paid)/refund 133,573 (162,609) (184,317)
Net cash generated from/(used in) operating activities 2,617,790 22,279,507 1,151,228
Investing activities      
Acquisition of property and equipment (953,191) (327,077) (433,922)
Acquisition of intangible assets (5,920,209) (2,290,423) (24,316)
Interest received 4,908 4,140 1,596
Acquisition of financial assets, at fair value through other comprehensive income (7,515,616) (47,710,805) (9,494,041)
Proceeds from disposal of financial assets, at fair value through other comprehensive income 4,248,592 1,678,000 5,975,424
Proceeds from disposal of subsidiaries, net of cash and cash equivalents disposed of (62,833,133)
Proceeds from disposal of financial assets, at fair value through profit and loss 1,785
Net cash used in investing activities (72,968,649) (48,644,380) (3,975,259)
Financing activities      
Proceeds from issuance of ordinary shares 53,681,106 35,013,797
Proceeds from lease liabilities 1,159,035
Repayment of other borrowings (10,829)
Repayment of bank borrowings (9,673) (23,989) (26,273)
Interest paid – lease obligation   (9,491) (19,787)
Interest paid – convertible notes  
Interest paid (619,994)
Proceeds from initial public offering, net of transaction cost 3,804,044
Payment for initial public offering expense (99,535)
Payment for lease liabilities (1,585,022) (160,827) (81,867)
Repayment of advances made from related parties (439,048) (290,882) (498,178)
Proceeds from issuance of convertible notes 14,000,000
Dividend paid (103,809)
Net cash generated from financing activities 66,186,404 34,528,608 2,963,766
Net increase/(decrease) in cash and cash equivalents (4,164,455) 8,163,735 139,735
Foreign exchange effect (2,995,481) (1,073,291)
Cash and bank balances at beginning of year 8,100,899 1,010,455 870,720
Cash and bank balances at end of year $ 940,963 $ 8,100,899 $ 1,010,455