v3.25.4
RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS (Tables)
 9 Months Ended
Sep. 30, 2025
Accounting Changes and Error Corrections [Abstract]  
SCHEDULE OF EFFECT OF RESTATEMENT

 

   As Previously Reported   Restatement Adjustment   As Adjusted 
   As of September 30, 2025 
   As Reported   Adjustment   As Restated 
Liabilities               
HUSA convertible note payable   4,416,477    127,523    4,544,000 
Other payables   38,311    73,333    111,644 
Shareholders’ Equity               
Additional paid-in capital   42,242,006    13,176,251    55,418,257 
Accumulated deficit   (25,805,866)   (13,377,107)   (39,182,973)

 

The table below presents the effect of the financial statement adjustments related to the restatement discussed above of the Company’s previously reported condensed consolidated statements of operations and comprehensive loss for the three and nine months ended September 30, 2025:

 

   As Previously Reported   Restatement Adjustment   As Adjusted 
   Three Months Ended September 30, 2025 
   As Reported   Adjustment   As Restated 
General and administrative expense   3,456,958    13,185,177    16,642,135 
Interest expense   (108,453)   (86,286)   (194,739)
Loss from extinguishment of debt   -    (105,644)   (105,644)
Net loss   (7,031,914)   (13,377,107)   (20,409,021)
Net loss attributable to noncontrolling interest   2,922    (2)   2,920 
Basic and diluted EPS   (0.21)   (0.39)   (0.60)

 

   As Previously Reported   Restatement Adjustment   As Adjusted 
   Nine Months Ended September 30, 2025 
   As Previously Reported   Restatement Adjustment   As Adjusted 
General and administrative expense   5,419,727    13,185,177    18,604,904 
Interest expense   (306,809)   (86,206)   (393,095)
Loss from extinguishment of debt   -    (105,644)   (105,644)
Net loss   (9,150,478)   (13,377,107)   (22,527,585)
Net loss attributable to noncontrolling interest   7,059    (1)   7,058 
Basic and diluted EPS   (0.27)   (0.39)   (0.66)

 

 

The table below presents the effect of the financial statement adjustments related to the restatement discussed above of the Company’s previously reported condensed consolidated statements of cash flows for the nine months ended September 30, 2025:

 

   As Previously Reported   Restatement Adjustment   As Adjusted 
   Nine Months Ended September 30, 2025 
   As Previously Reported   Restatement Adjustment   As Adjusted 
Operating activities               
Net loss   (9,150,478)   (13,377,107)   (22,527,585)
Non-cash success fee   -    12,390,251    12,390,251 
Loss from extinguishment of debt   -    41,237    41,237 
Amortization of debt discount   -    86,286    86,286 
Share based payments   -    786,000    786,000 
Increase in other payables   10,955    73,333    84,288 
SUPPLEMENTAL NON-CASH INVESTING AND FINANCING ACTIVITIES               
Non-cash shareholder contributions   -    12,390,251    12,390,251 

 

   As Previously Reported   Restatement Adjustment   As Adjusted 
   Nine Months Ended September 30, 2025 
   As Previously Reported   Restatement Adjustment   As Adjusted 
Common stock   34,222    -    34,222 
Accumulated other comprehensive loss   54,606    -    54,606 
Additional paid-in capital   42,242,006    13,176,251    55,418,257 
Accumulated deficit   (25,805,866)   (13,377,107)   (39,182,973)
Total AGIG shareholder’s equity   16,524,968    (200,856)   16,324,112