v3.25.4

Business Combination (Tables) | 12 Months Ended
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Dec. 31, 2024
Business Combination [Abstract] |
Schedule of Assets Acquired and Liabilities Assumed | The purchase consideration and estimated fair value assessment of the assets acquired and liabilities assumed is as follows:
|  | Amount |
Consideration: |  |  |
Triller Group common stock issued, at a fair value of $5.60 per share |  | $ | 467,424 |
Triller Group common stock issued held in escrow account, at a fair value of $5.60 per share |  |  | 135,555 |
Triller Group Series A-1 preferred stock, at a fair value of $5.60 per share |  |  | 132,181 |
Triller Group Replacement warrants at fair value (a) |  |  | 50,573 |
Total consideration |  | $ | 785,733 |
Fair value of assets acquired: |  |  |  |
Cash and cash equivalents |  | $ | 1,175 |
Accounts receivable, net |  |  | 2,178 |
Other current assets |  |  | 253 |
Intangible assets |  |  | 911 |
Amounts attributable to assets acquired |  |  | 4,517 |
Fair value of liabilities assumed: |  |  |  |
Accounts payable, accrued expenses and other current liabilities |  |  | 122,002 |
Earn-out liability |  |  | 5,000 |
Related party advances |  |  | 30,401 |
Borrowings |  |  | 13,100 |
Convertible debts |  |  | 54,059 |
Amounts attributable to liabilities assumed |  |  | 224,562 |
Net assets acquired, liabilities assumed |  | $ | (220,045 | )
Goodwill |  |  | 1,005,778 |
| (a) | Valuation analysis relied upon the usage of market data and the Black-Scholes Model in order to determine the fair value of the Replacement Warrants. Market data, including risk-free rates, stock price, and volatility was obtained from the S&P Global Market Intelligence database. Replacement Warrants that were out-of-the-money were valued utilizing the Black-Scholes Model and the full contractual term to expiration of the relevant Replacement Warrants. Replacement Warrants that were significantly in-the-money were valued using intrinsic value.
Schedule of Acquired Intangible Assets and Estimated Useful Lives | The following table summarizes the components of the acquired intangible assets and estimated useful lives:
|  | Intangible Assets |  |  | Estimated Useful Life |
Trademarks and trade names |  | $ | 240 |  |  |  | 5 years |
Customer relationships – business enterprises |  |  | 436 |  |  |  | 2 years |
Customer relationships – consumer subscriptions |  |  | 235 |  |  |  | 2 years |
Total intangible assets acquired |  | $ | 911 |  |  |  |  |
Schedule of Pro Forma Amounts | The following table provides unaudited pro forma information as if Triller Corp had merged with the Company as of January 1, 2023. The unaudited pro forma information reflects adjustments for additional amortization resulting from the fair value adjustments to the assets acquired and liabilities assumed, adjustments for alignment of accounting policies, and transaction expenses as if the Merger occurred on January 1, 2023. The pro forma results do not include any anticipated cost synergies or other effects of the integrated merged companies. Accordingly, pro forma amounts are not necessarily indicative of the results that would have occurred had the Merger Transaction been completed on the dates indicated, nor is it indicative of the future operating results of the combined company.
|  | For the years ended December 31, |
|  | 2024 |  |  | 2023 |
Pro forma revenue |  | $ | 63,281 |  |  | $ | 99,734 |
Pro forma net loss |  | $ | 234,440 |  |  | $ | 347,963 |

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