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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net loss $ (4,487,358) $ (2,631,928)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Non-cash expense for Share-based compensation 2,158,749
Depreciation of equipment and software 123,799 142,518
Depreciation of right-of-use assets 53,712 41,981
Amortization of intangible assets 385,139 831,392
Deferred income taxes (92,426) 54,704
Disposal of fixed assets 401
Unrealized foreign exchange gain 328,269 (124,690)
Changes in operating assets and liabilities:    
Accounts receivable 33,923 (110,270)
Prepayments, receivables and other assets (4,918,772) 9,477,057
Escrow money payable 218,542
Client money payable 146,847
Accounts payable, accruals and other payables (4,068,655) (7,014,740)
Interest payable on convertible bonds 952,736
Amount due from a director 729,198
Amount due to Immediate holding company 23,766
Amounts due from related parties (3,652)
Amounts due to related parties 8,245,995 (2,205,121)
Net cash used in operating activities (1,487,912) (220,972)
Cash flows from investing activities:    
Decrease in short-term investments 615
Purchases of property, plant and equipment (175,158) (12,058)
Proceed received from disposal of PPE 596
Net cash used in investing activities (174,562) (11,443)
Cash flows from financing activities:    
Proceeds from borrowings 639,210
Repayment of borrowings (95,742)
Proceeds from receivable factoring 433,287 586,789
Repayment of receivable factoring (218,974) (610,559)
Payment of principal elements of lease liabilities (65,286) (46,295)
Payment of interest elements of lease liabilities (7,416) (2,952)
Net cash generated from/(used in) financing activities 141,611 470,451
Net decrease in cash and cash equivalents (1,520,863) 238,036
Cash and cash equivalents, restricted cash and escrow money receivable at beginning of the period 63,862,139 58,960,384
Cash and cash equivalents, restricted cash and escrow money receivable at end of the period 62,341,276 59,198,420
Supplemental disclosure of cash flow information:    
Income taxes paid (140,905) (15,825)
Interest paid $ (48,773) $ (346,270)