v3.25.4
Parent Only Financial Information
 12 Months Ended
Dec. 31, 2024
Parent Only Financial Information [Abstract]  
PARENT ONLY FINANCIAL INFORMATION

NOTE 27 — PARENT ONLY FINANCIAL INFORMATION

 

The Company performed a test on the restricted net assets of consolidated subsidiaries in accordance with Securities and Exchange Commission Regulation S-X Rule 5-04 and concluded that it was applicable for the Company to disclose the financial statements for Triller Group Inc., the parent company.

 

The Company did not have significant capital and other commitments, long-term obligations, or guarantees as of December 31, 2024 and 2023. Certain information and footnote disclosures generally included in financial statements prepared in accordance with U.S. GAAP have been condensed and omitted.

The following presents condensed parent company only financial information of Triller Group Inc.

  As of December 31, 
   2024   2023 
ASSETS        
Current assets:          
Cash and cash equivalents  $3   $130 
Amounts due from stockholder   
—
    133 
Amounts due from subsidiaries   66,088    909 
Promissory notes receivable, related party   33,949    
—
 
Prepayments   155    453 
Total current assets   100,195    1,625 
           
Non-current assets:          
Investments in subsidiaries   785,733    
—
 
Total non-current assets   785,733    
—
 
           
TOTAL ASSETS  $885,928   $1,625 
           
LIABILITIES AND STOCKHOLDERS’ EQUITY          
Current liabilities:          
Other payable and accrued liabilities  $8,930   $3,739 
Borrowings   32,552      
Borrowings, related party   18,443    
—
 
Warrant liabilities   977    
—
 
Total current liabilities   60,902    3,739 
           
TOTAL LIABILITIES   60,902    3,739 
           
Commitments and contingencies (Note 25)   
 
    
 
 
           
Stockholders’ equity (deficit)*:          
Preferred stock, $0.001 par value, 100,000,000 shares authorized   
 
    
 
 
Series A-1 preferred stock, $0.001 par value, 50,000,000 and nil shares authorized, 11,801,804 shares and nil issued and outstanding as of December 31, 2024 and 2023, respectively   12    
—
 
Series B preferred stock, $0.001 par value, 50,000,000 and nil shares authorized, 30,851 shares and nil issued and outstanding as of December 31, 2024 and 2023, respectively   
—
**   
—
 
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#   138    69 
Series A-1 preferred stock to be issued   12    
—
 
Common stock to be issued#   15    5 
Common stock held in escrow   24    
—
 
Additional paid-in capital   909,806    19,507 
Accumulated deficit   (84,981)   (21,695)
Total stockholders’ equity (deficit)   825,026    (2,114)
           
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)  $885,928   $1,625 

 

  # Giving retroactive effect to the forward stock split and reverse stock split (see Note 19)
  *

Giving retroactive effect to the AGBA Domestication completed on October 15, 2024 (see Note 1)

  ** Less than $1,000
  For the years ended
December 31,		 
   2024   2023 
Operating cost and expenses:        
Stock-based compensation expense  $(51,671)  $(9,933)
Other general and administrative expenses   (11,066)   (3,764)
Total operating cost and expenses   (62,737)   (13,697)
           
Loss from operations   (62,737)   (13,697)
           
Other income (expense):          
Interest income   765    
—
 
Interest expense   (4,546)   
—
 
Interest expense, related party   (231)   

—

 
Change in fair value of warrant liabilities   3,463    4 
Change in fair value of forward share purchase liability   
—
    (82)
Loss on settlement of forward share purchase agreement   
—
    (379)
Sundry income   
—
    344 
Total other income (expense), net   (549)   (113)
           
Loss before income taxes   (63,286)   (13,810)
           
Income tax expense   
—
    
—
 
           
NET LOSS  $(63,286)  $(13,810)
  Years ended December 31, 
   2024   2023 
Cash flows from operating activities:          
Net loss  $(63,286)  $(13,810)
Adjustments to reconcile net loss to net cash used in operating activities          
Stock-based compensation expense   51,671    9,933 
Change in fair value of warrant liabilities   (3,463)   (4)
Change in fair value of forward share purchase liability   
—
    82 
Loss on settlement of forward share purchase agreement   
—
    379 
Interest income from promissory note receivable, related party   (765)   
—
 
Interest expenses on borrowings   4,777    
—
 
           
Change in operating assets and liabilities:          
Prepayments   658    (17)
Other payables and accrued liabilities   6,399    1,161 
Net cash used in operating activities   (4,009)   (2,276)
           
Cash flows from investing activities:          
Issuance of promissory notes receivable, related party   (15,465)   
—
 
Net cash used in investing activities   (15,465)   
—
 
           
Cash flows from financing activities:          
Advances to related companies   (4,003)   (934)
Proceeds from convertible promissory note payables   23,350    
—
 
Settlement of forward share purchase agreement   
—
    (13,953)
Proceeds from private placement   
—
    1,850 
Net cash provided by (used in) financing activities   19,347    (13,037)
           
Net change in cash and cash equivalents   (127)   (15,313)
           
BEGINNING OF YEAR   130    15,443 
           
END OF YEAR  $3   $130