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SCHEDULE 1 (Tables) - Seamless Group Inc [Member] | 12 Months Ended
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Dec. 31, 2022
Condensed Financial Statements, Captions [Line Items] |
SCHEDULE OF FINANCIAL INFORMATION FOR THE SIGNIFICANT SUBSIDIARIES | Summarized financial information for the significant subsidiaries is as follows: SCHEDULE OF FINANCIAL INFORMATION FOR THE SIGNIFICANT SUBSIDIARIES
|  | December 31, |
|  | 2022 |  |  | 2021 |
|  | US$ |  |  | US$ |
Current assets |  |  | 138,666,772 |  |  |  | 108,129,821 |
Non-current assets |  |  | 7,578,365 |  |  |  | 9,223,582 |
Current liabilities |  |  | 121,931,207 |  |  |  | (89,952,880 | )
Non-current liabilities |  |  | 3,156,719 |  |  |  | (1,320,025 | )
Revenue |  |  | 60,052,470 |  |  |  | 61,128,972 |
Net loss |  |  | (2,550,363 | ) |  |  | (137,004 | )
SCHEDULE OF INVESTMENT ACTIVITY | Summarized investment activity is as follows: SCHEDULE OF INVESTMENT ACTIVITY
|  | December 31, |
|  | 2022 |  |  | 2021 |
|  | US$ |  |  | US$ |
Balance at the beginning of year |  |  | 26,171,064 |  |  |  | 29,745,028 |
Allocated loss |  |  | (7,081,757 | ) |  |  | (3,573,964 | )
Balance at the end of year |  |  | 19,089,307 |  |  |  | 26,171,064 |
Parent Company [Member] |
Condensed Financial Statements, Captions [Line Items] |
SCHEDULE OF CONDENSED BALANCE SHEETS OF THE PARENT COMPANY | Condensed balance sheets of the parent company SCHEDULE OF CONDENSED BALANCE SHEETS OF THE PARENT COMPANY
|  | December 31, |
|  | 2022 |  |  | 2021 |
|  | US$ |  |  | US$ |
ASSETS |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |
Cash and cash equivalents |  |  | 78,968 |  |  |  | 25,648 |
Short-term investments |  |  | - |  |  |  | 2,012,562 |
Prepayments, deposits and other receivables |  |  | 66,245 |  |  |  | 2,751,066 |
Amounts due from subsidiaries |  |  | 6,869,413 |  |  |  | 5,610,972 |
Amounts due from related parties |  |  | 90,666 |  |  |  | 1,857,039 |
Total current assets |  |  | 7,105,292 |  |  |  | 12,257,287 |
Investments in subsidiaries |  |  | 26,470,719 |  |  |  | 26,171,064 |
Investment in an equity security |  |  | - |  |  |  | 100,000 |
Total assets |  |  | 33,576,011 |  |  |  | 38,528,351 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |
Borrowings |  |  | 11,577,451 |  |  |  | 1,666,989 |
Accruals and other payables |  |  | 5,410,027 |  |  |  | 1,596,197 |
Amounts due to subsidiaries |  |  | 2,640,735 |  |  |  | 215,889 |
Amounts due to related parties |  |  | 49,900,344 |  |  |  | 48,338,222 |
Convertible bonds |  |  | 9,192,141 |  |  |  | 7,561,050 |
Total current liabilities |  |  | 78,720,698 |  |  |  | 59,378,347 |
Borrowings |  |  | - |  |  |  | 923,256 |
Convertible bonds |  |  | - |  |  |  | 9,192,140 |
Total liabilities |  |  | 78,720,698 |  |  |  | 69,493,743 |
Shareholders’ deficit: |  |  |  |  |  |  |  |
Common shares (US$0.001 par value; 58,030,000 shares authorized, issued and outstanding as of December 31, 2022 and 2021) |  |  | 58,030 |  |  |  | 58,030 |
Additional paid-in capital |  |  | 29,172,373 |  |  |  | 29,172,373 |
Accumulated deficit |  |  | (74,235,607 | ) |  |  | (60,105,962 | )
Accumulated other comprehensive loss |  |  | (139,483 | ) |  |  | (89,833 | )
Total shareholders’ deficit |  |  | (45,144,687 | ) |  |  | (30,965,392 | )
Total liabilities and shareholders’ deficit |  |  | 33,576,011 |  |  |  | 38,528,351 |
SCHEDULE OF CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) | Condensed statements of comprehensive income (loss) SCHEDULE OF CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
|  | Years ended December 31, |
|  | 2022 |  |  | 2021 |
|  | US$ |  |  | US$ |
General and administrative expenses |  |  | (4,988,848 | ) |  |  | (639,125 | )
Finance costs, net |  |  | (7,454,838 | ) |  |  | (10,636,110 | )
Share of results from subsidiaries |  |  | (4,234,448 | ) |  |  | (3,573,964 | )
Loss before income tax |  |  | (16,678,134 | ) |  |  | (14,849,199 | )
Income tax expenses |  |  | — |  |  |  | — |
Net loss |  |  | (16,678,134 | ) |  |  | (14,849,199 | )
Other comprehensive income (loss) |  |  |  |  |  |  |  |
Foreign currency translation adjustments |  |  | 4,529 |  |  |  | 26,245 |
Total comprehensive loss |  |  | (16,673,605 | ) |  |  | (14,822,954 | )
SCHEDULE OF CONDENSED STATEMENTS OF CASH FLOWS | Condensed statements of cash flows SCHEDULE OF CONDENSED STATEMENTS OF CASH FLOWS
|  | Years ended December 31, |
|  | 2022 |  |  | 2021 |
|  | US$ |  |  | US$ |
Cash flows from operating activities: |  |  |  |  |  |  |  |
Net loss |  |  | (16,678,134 | ) |  |  | (14,849,199 | )
Adjustments to reconcile net loss to net cash used in operating activities: |  |  |  |  |  |  |  |
Amortization of discount on convertible bonds |  |  | 3,438,951 |  |  |  | 2,814,474 |
Share of results from subsidiaries |  |  | 4,234,448 |  |  |  | 3,573,964 |
Unrealized foreign exchange gain |  |  | (644 | ) |  |  | (144,611 | )
Changes in operating assets and liabilities: |  |  |  |  |  |  |  |
Prepayments, deposits and other receivables |  |  | (9,900 | ) |  |  | (13,246 | )
Accruals and other payables |  |  | 3,797,118 |  |  |  | 5,667,902 |
Net cash used in operating activities |  |  | (5,218,161 | ) |  |  | (2,950,716 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |
Dividend received from a subsidiary |  |  | 2,847,309 |  |  |  | - |
(Increase) decrease in short-term investments |  |  | 2,012,562 |  |  |  | (458 | )
Cash injected into a subsidiary |  |  | (2,012,562 | ) |  |  |  |
Net cash (used in) provided by investing activities |  |  | 2,847,309 |  |  |  | (458 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |
Proceeds from borrowings |  |  | 2,758,213 |  |  |  | 2,590,245 |
Repayment of borrowings |  |  | (1,276,950 | ) |  |  | (1,225,381 | )
Repayment of convertible bonds |  |  | (3,483,133 | ) |  |  | (10,500,000 | )
Amounts due from related parties |  |  | 301,958 |  |  |  | 1,593,193 |
Amounts due to related parties |  |  | 4,123,866 |  |  |  | 10,453,690 |
Net cash provided by financing activities |  |  | 2,423,954 |  |  |  | 2,911,747 |
Net decrease in cash and cash equivalents |  |  | 53,102 |  |  |  | (39,427 | )
Effect of exchange rate changes on cash and cash equivalents |  |  | 218 |  |  |  | (27,961 | )
Cash and cash equivalents at beginning of year |  |  | 25,648 |  |  |  | 93,036 |
Cash and cash equivalents at end of year |  |  | 78,968 |  |  |  | 25,648 |

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