v3.26.3
Condensed Consolidated Statements of Cash Flows (Unaudited)
 6 Months Ended
Jun. 30, 2026
USD ($)
Jun. 30, 2026
SGD ($)
Jun. 30, 2025
SGD ($)
CASH FLOWS FROM OPERATING ACTIVITIES      
Net loss $ (10,371,000) $ (13,421,000) $ (4,812,000)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:      
Amortization 216,000 280,000 257,000
Depreciation 35,000 45,000 45,000
Interest expense 1,000 1,000 3,000
Share-based payment expenses 8,803,000 11,392,000 1,542,000
Share of results of a joint venture (153,000) (198,000)
Income tax benefit (32,000)
Net effect of exchange rates changes 241,000 312,000 (208,000)
Changes in assets and liabilities:      
Accounts receivable, net 8,000 10,000 (67,000)
Deposits, prepaid expenses and other current assets (393,000) (507,000) 1,345,000
Accounts payable (447,000) (579,000) (217,000)
Accrued expenses and other current liabilities (36,000) (47,000) 78,000
Operating lease obligations (31,000) (40,000) (40,000)
Net cash used in operating activities (2,127,000) (2,752,000) (2,106,000)
CASH FLOWS FROM INVESTING ACTIVITIES      
Purchase of property and equipment (9,000) (11,000) (3,000)
Additions in intangible assets (241,000) (312,000) (300,000)
Deposits placed under call option agreements (14,352,000) (18,574,000)
Refund of deposits under call option agreements 1,001,000 1,296,000
Advances to an unrelated third party and the joint venture (6,193,000) (8,015,000)
Settlement of advances 3,762,000 4,868,000
Net cash used in investing activities (16,032,000) (20,748,000) (303,000)
CASH FLOWS FROM FINANCING ACTIVITIES      
Issuance of new class A shares 16,486,000 21,335,000
Net cash provided by financing activities 16,486,000 21,335,000
Net change in cash and cash equivalents (1,673,000) (2,165,000) (2,409,000)
Cash and cash equivalents at beginning of period 3,865,000 5,002,000 5,519,000
Cash and cash equivalents at end of period 2,192,000 2,837,000 3,110,000
SUPPLEMENTAL CASH FLOW INFORMATION      
Cash paid for interest 1,000 1,000 3,000
Non-cash financing activities      
Non-cash transactions from acquisition of joint venture 1,867,000
Share-based compensation settled or to be settled in shares $ 8,803,000 $ 11,392,000 $ 1,542,000