Loss Before Tax (Tables)

12 Months Ended

Dec. 31, 2025

The Group’s loss before tax is arrived at after charging/(crediting):

	Notes	2025			2024			2023
		US$			US$			US$

Amortization of development costs	11		103,513			3,021,933			6,202,250
Depreciation of property and equipment (included in general, administrative and other operating expenses**)	12		165,847			309,033			218,471
Depreciation of right-of-use assets (included in general, administrative and other operating expenses**)	13(a)		743,146			712,003			743,956

Employee benefit expense:
Salaries, allowances and other benefits			14,099,846			20,310,898			18,392,916
Equity-settled share-based payment expense			1,288,714			3,179,214			6,629,044
Other long-term employee benefits expense/(credit)			-			-			109,702
Pension scheme contributions (defined contribution scheme)			895,286			1,322,973			1,179,399
Retirement benefits expense			62,602			79,131			56,672
Less:
Amount capitalized			(105,473	)		(677,370	)		(1,357,537	)
Government grant recognized*			(50,731	)		(64,232	)		(78,703	)
			16,190,244			24,150,614			24,931,493

Lease payments not included in measurement of lease liabilities (included in general, administrative and other operating expenses)	13(c)		11,002			11,126			42,931
Provision for expected credit losses	14		26,324			112,122			3,757
Written off/Impairment of intangible assets	11		1,193,246			4,541,074			3,105,507
Changes in fair value of other derivative financial instruments (included in changes in fair value of financial instruments)	19		-			-			9,536,904
Changes in fair value of warrant liabilities (included in changes in fair value of financial instruments)	20		(262,830	)		(446,811	)		47,796,528
Other equity-settled transactions (included in general, administrative and other operating expenses)	24		-			-			500,000
Gain on disposal of items of property and equipment, net (included in other income)			(1,438	)		(7,068	)		(3,690	)

Gain on disposal of assets in Malaysian operations (included in other income/expenses)			-			(600,000	)		-
Reversal of provision for expected credit losses						-			(1,558	)
Foreign exchange differences, net			(4,818,410	)		4,783,117			(656,605	)
Cost of revenue (included impairment of other asset of US$316,113,(2024: nil, 2023: nil))			37,283,631			46,179,969			43,929,982

*	Various government grants have been received for employment support schemes in related to job support schemes.

For the year ended December 31, 2025, other than these depreciation, general, administrative and other operating expenses mainly include legal and professional fees of US$3,224,000, written off/impairment of intangible assets of US$1,193,246, insurance costs of US$734,593, investor relation costs of US$565,982 and other office and corporate cost.