v3.25.4
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 3,065 $ 1,861
Restricted cash 14,196 16,817
Accounts receivable, net 2,873 2,971
Loans and notes receivables, net 92 1,106
Deposit, prepayments, and other receivables, net 1,860 1,770
Assets held for sale 2,003
Total current assets 24,089 25,619
Non-current assets:    
Rental deposit, net 961
Loans receivables, net 1,034 1,055
Long-term investments, net 24,930 25,202
Property and equipment, net 1,721
Right-of-use asset, net 11,508
Intangible assets, net
Total non-current assets 26,489 40,970
TOTAL ASSETS 50,578 66,589
Current liabilities:    
Accounts payable and other current liabilities 149,901 19,754
Escrow liabilities 14,196 16,817
Borrowings 12,707 1,805
Convertible debts, net 32,552
Amount due to stockholder 2,906
Income tax payable 329
Warrant liabilities 977
Operating lease liabilities, current 1,867 1,229
Total current liabilities 295,738 47,840
Non-current liabilities:    
Operating lease liabilities, non-current 807 10,646
Total non-current liabilities 807 10,646
TOTAL LIABILITIES 296,545 58,486
Commitments and contingencies (Note 25)
Stockholders’ (deficit) equity*:    
Preferred stock, value [1]
Common stock, $0.001 par value; 150,000,000,000 and 484,125,000 shares authorized, 138,143,817 and 33,240,991 shares issued and outstanding as of December 31, 2024 and 2023, respectively# [1],[2] 138 33
Series A-1 preferred stock to be issued [1] 12
Common stock to be issued [2] 15 2
Common stock held in escrow [1] 24
Additional paid-in capital [1] 958,017 74,142
Accumulated other comprehensive loss [1] (548) (473)
Accumulated deficit [1] (1,203,637) (65,601)
Total stockholders’ (deficit) equity [1] (245,967) 8,103
TOTAL LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY 50,578 66,589
Related Party    
Current assets:    
Accounts receivable, net, related parties [3] 1,094
Non-current assets:    
Long-term investments, net, related party 525 523
Current liabilities:    
Other current liabilities, related parties [4] 1,251
Borrowings, related party 29,181 5,000
Convertible debts, related party 53,106
Series A-1 Preferred Stock    
Stockholders’ (deficit) equity*:    
Preferred stock, value [1] 12
Series B Preferred Stock    
Stockholders’ (deficit) equity*:    
Preferred stock, value [1] [5]
[1] Giving retroactive effect to the AGBA Domestication completed on October 15, 2024 (see Note 1)
[2] Giving retroactive effect to the forward stock split and reverse stock split (see Note 19)
[3] Accounts receivable due from related parties represented the management service rendered to two individual close-ended investment private funds registered in the Cayman Islands, which are controlled by the controlling stockholder of the Company.
[4] Other current liabilities due to related parties represented the interest payable accrued on the short-term borrowings from four related parties (see Note 15(c)).
[5] Less than $1,000