v3.26.1
Interim Consolidated Balance Sheets (Unaudited)
$ in Thousands
Jun. 30, 2026
USD ($)
Jun. 30, 2026
SGD ($)
Dec. 31, 2025
SGD ($)
Current assets      
Cash and cash equivalents $ 2,419 $ 3,130,000 $ 1,990,000
Accounts receivable 19 24,000
Deposits, prepayments and other receivables 141 184,000 67,000
Total current assets 2,579 3,338,000 2,057,000
Non-current assets      
Property and equipment, net 407 527,000 537,000
Intangible assets 74 97,000 73,000
Right-of-use asset 22 28,000
Total non-current assets 503 652,000 610,000
Total Assets 3,082 3,990,000 2,667,000
Current liabilities      
Accounts payable and accrued liabilities 620 802,000 1,274,000
Bank borrowings 11 14,000 10,000
Lease liabilities 22 28,000
Income tax payable 8,000
Total current liabilities 654 846,000 1,510,000
Non-current liabilities      
Bank borrowings 292 378,000 388,000
Total Liabilities 946 1,224,000 1,898,000
Commitments and contingencies
Shareholders’ Equity      
Ordinary share, par value US$0.00225, 10,222,222,222.22 shares authorized, 37,777.78 shares issues and outstanding [1] (0) [2] (0) [2]
Additional paid-in capital 5,805 7,514,000 2,137,000
Retained earnings (Accumulated losses) (3,667) (4,746,000) (1,361,000)
Forex reserve (2) (2,000) (7,000)
Total Shareholders’ Equity 2,136 2,766,000 769,000
Total Liabilities and Shareholders’ Equity 3,082 3,990,000 2,667,000
Director [Member]      
Current liabilities      
Amount due to director $ 1 $ 2,000 $ 218,000
[1] Below S$1,000/US$1,000
[2] Retrospectively presented for the effect of (i) the issuance of 1 ordinary share on February 15, 2024 in preparation of the Company’s initial public offering, (ii) the 1:200 share subdivision and 5,000,000 share surrender approved on October 2, 2024, (iii) the 15 for 1 reverse share split effected on February 12, 2026, and (iv) the 30 for 1 reverse share split effected on May 4, 2026.