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ACQUISITION OF DYNAMIC INDONESIA HOLDINGS LIMITED (Tables) - Seamless Group Inc. [Member] | 3 Months Ended | 12 Months Ended
--- | --- | ---
Mar. 31, 2024 | Dec. 31, 2023
SCHEDULE OF PURCHASE PRICE OF ACQUISITION | The allocation of the purchase price as of the date of acquisition is summarized as follows: SCHEDULE OF PURCHASE PRICE OF ACQUISITION
|  | US$ |
Net assets acquired (i) |  |  | (1,590,634 | )
Goodwill (Note 3) |  |  | 7,851,590 |
Non-controlling interests |  |  | (3,931,441 | )
Total |  |  | 2,329,515 |
Total purchase price is comprised of: |  |  |  |
Cash consideration |  |  | 200,000 |
Fair value of previously held equity interests |  |  | 2,129,515 |
Total |  |  | 2,329,515 |
SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)
7 | Acquisition of Dynamic Indonesia Holdings Limited (Continued)
| (i) | Goodwill arose on the acquisition from the expected synergies from combining our existing airtime operations with those of Dynamic Indonesia Holdings Limited.
| (ii) | An independent valuation firm was hired by Noble Tack International Limited to value it shares in Dynamic Indonesia at approximately the date of the acquisition. The firm used market approach Price-to-Sales multiple-based methodology to determine the value.
| The allocation of the purchase price as of the date of acquisition is summarized as follows: SCHEDULE OF PURCHASE PRICE OF ACQUISITION
|  | US$ |
Net assets acquired (i) |  |  | (1,510,899 | )
Goodwill (Note 9) (ii) |  |  | 7,771,855 |
Non-controlling interests (iii) |  |  | (3,931,441 | )
Total |  |  | 2,329,515 |
Total purchase price is comprised of: |  |  |  |
Cash consideration |  |  | 200,000 |
Fair value of previously held equity interests |  |  | 2,129,515 |
Total |  |  | 2,329,515 |
| (i) | Net assets acquired primarily included accounts receivables and other receivables of approximately US$0.6 million, property and equipment of approximately US$0.2 million, operating lease right-of-use assets relating to land use rights of approximately US$0.1 million and other assets of approximately US$1.6 million and liabilities of approximately US$4.1 million as of the date of acquisition.
SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)
20 | Acquisition of Dynamic Indonesia Holdings Limited (Continued)
| (ii) | Goodwill arose on the acquisition from the expected synergies from combining our existing airtime operations with those of Dynamic Indonesia Holdings Limited.
| (iii) | An independent valuation firm was hired by Noble Tack International Limited to value it shares in Dynamic Indonesia at approximately the date of the acquisition. The firm used market approach Price-to-Sales multiple-based methodology to determine the value.
SCHEDULE OF ACQUISITION OF CONSOLIDATED STATEMENTS OF OPERATIONS |  | The following amounts of the acquiree since the acquisition date are included in the December 2023 consolidated statement of operations. Comparable information for 2021 is not available. SCHEDULE OF ACQUISITION OF CONSOLIDATED STATEMENTS OF OPERATIONS
|  | 2023 |  |  | 2022 |
|  | US$ |  |  | US$ |
Revenue |  |  | 14,211,091 |  |  |  | 10,110,839 |
Loss after tax |  |  | (836,874 | ) |  |  | (498,424 | )

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