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Loss Before Tax (Tables)

12 Months Ended

Dec. 31, 2024

The Group’s loss before tax is arrived at after charging/(crediting):

	Notes	2024			2023			2022
		US$			US$			US$

Amortization of intangible assets (other than development costs)			-			-			187,198
Amortization of development costs (included in technology costs)	11		3,021,933			6,202,250			3,401,957
Depreciation of property and equipment (included in general, administrative and other operating expenses)	12		309,033			218,471			328,438
Depreciation of right-of-use assets (included in general, administrative and other operating expenses)	13(a)		712,003			743,956			871,157

Employee benefit expense:
Salaries, allowances and other benefits			20,310,898			18,392,916			26,805,750
Equity-settled share-based payment expense			3,179,214			6,629,044			14,430,835
Other long-term employee benefits expense/(credit)			-			109,702			(4,951,482	)
Pension scheme contributions (defined contribution scheme)			1,322,973			1,179,399			1,419,470
Retirement benefits expense			79,131			56,672			75,376
Less:
Amount capitalized			(677,370	)		(1,357,537	)		(2,756,415	)
Government grant recognized*			(64,232	)		(78,703	)		(733,655	)
			24,150,614			24,931,493			34,289,879

Lease payments not included in measurement of lease liabilities (included in general, administrative and other operating expenses)	13(c)		11,126			42,931			157,264
Provision for expected credit losses	14		112,122			3,757			-
Impairment of goodwill (included in general, administrative and other operating expenses)^#			-			-			4,382,926
Impairment of intangible assets (included in general, administrative and other operating expenses)	11		4,541,074			3,105,507			1,450,781
Changes in fair value of other derivative financial instruments (included in other income/expenses)	19, 20		-			9,536,904			1,139,938
Changes in fair value of warrant liabilities	21		(446,811	)		47,796,528			(38,454	)
Other equity-settled transactions (included in general, administrative and other operating expenses)	25		-			500,000			882,115
Gain on disposal of items of property and equipment, net (included in other income/expenses)			(7,068	)		(3,690	)		(4,539	)
Gain on derecognition of convertible loans and bridge loan (included in other income/expenses)			-			-			(135,031	)
Gain on disposal of assets in Malaysian operations (included in other income/expenses)			(600,000	)		-			-
Reversal of provision for expected credit losses	14		-			(1,558	)		(14,242	)
Foreign exchange differences, net			4,783,117			(656,605	)		4,051,710

*	Various government grants have been received for employment support schemes in related to covid-19 and other job support schemes.

During the year ended December 31, 2022, the Group recognized impairment losses of US$4,382,926 related to goodwill and US$1,450,781 related to intangible assets of the Seedly CGU, which arose mainly due to negative operating factors affecting the Seedly CGU. During the year ended December 31, 2022, the goodwill has been fully impaired.