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Consolidated Segment Data | 12 Months Ended
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Dec. 31, 2023
Consolidated Segment Data [Abstract] |
CONSOLIDATED SEGMENT DATA |
24. | CONSOLIDATED SEGMENT DATA
Selected information by segment is presented in the following tables for the years ended December 31, 2023, 2022 and 2021:
|  | For the years ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Revenues(1) |  |  |  |  |  |  |  |  |
Secured logistics |  | $ | 31,892,550 |  |  | $ | 30,907,623 |  |  | $ | 34,300,213 |
Robotics AI solutions |  |  | 757,284 |  |  |  | 1,272,236 |  |  |  | 368,659 |
General security solutions |  |  | 3,630,668 |  |  |  | 1,785,789 |  |  |  | - |
|  | $ | 36,280,502 |  |  | $ | 33,965,648 |  |  | $ | 34,668,872 |
| (1) | Revenue excludes intercompany sales.
|  | For the years ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Operating loss |  |  |  |  |  |  |  |  |
Secured logistics |  | $ | (1,895,092 | ) |  | $ | (1,353,365 | ) |  | $ | (808,162 | )
Robotics AI solutions |  |  | (21,773,699 | ) |  |  | (11,227,391 | ) |  |  | (1,072,133 | )
General security solutions |  |  | (936,390 | ) |  |  | (178,580 | ) |  |  | - |
Corporate and others (1) |  |  | (4,697,597 | ) |  |  | (4,066,903 | ) |  |  | (1,872,155 | )
Operating loss from continuing operations |  | $ | (29,302,778 | ) |  | $ | (16,826,239 | ) |  | $ | (3,752,450 | )
Total other income from four segments |  |  | 461,926 |  |  |  | 87,616 |  |  |  | 292,732 |
Foreign exchange gains (losses), net: |  |  |  |  |  |  |  |  |  |  |  |
- Secured logistics |  |  | 241,813 |  |  |  | (629,844 | ) |  |  | (1,814,948 | )
- Robotics AI solutions |  |  | 55,567 |  |  |  | 37,503 |  |  |  | (1,511 | )
- Corporate and others |  |  | 7,646 |  |  |  | 1,376 |  |  |  | (3,202 | )
Finance costs: |  |  |  |  |  |  |  |  |  |  |  |
- Secured logistics |  |  | (510,818 | ) |  |  | (802,438 | ) |  |  | (885,183 | )
- Robotics AI solutions |  |  | (14,431 | ) |  |  | (22,695 | ) |  |  | (2,793 | )
- General security solutions |  |  | (857 | ) |  |  | (946 | ) |  |  | - |
- Corporate and others |  |  | (127,268 | ) |  |  | (315,751 | ) |  |  | (96,867 | )
Loss before income tax from continuing operations |  |  | (29,189,200 | ) |  |  | (18,471,418 | ) |  |  | (6,264,222 | )
Provision for income tax (expense) benefit |  |  | (434,320 | ) |  |  | (132,208 | ) |  |  | 732,868 |
Net loss for the year from continuing operations |  |  | (29,623,520 | ) |  |  | (18,603,626 | ) |  |  | (5,531,354 | )
Net profit (loss) for the year from discontinued operations – Information security segment |  |  | 34,138 |  |  |  | (62,432 | ) |  |  | 39,700 |
Net loss for the year |  |  | (29,589,382 | ) |  |  | (18,666,058 | ) |  |  | (5,491,654 | )
Net loss attributable to the non-controlling interest |  |  | 17,721 |  |  |  | 101,264 |  |  |  | 9,727 |
Net loss attributable to equity holders of the Company |  |  | (29,571,661 | ) |  |  | (18,564,794 | ) |  |  | (5,481,927 | )
| (1) | Includes impairment of goodwill on acquired subsidiaries, non-cash compensation expense, professional fees and consultancy fees for the Company. Non-cash compensation expense of $1,101,800, $252,095 and $nil for the years ended December 31, 2023, 2022 and 2021 was solely attributable to the Corporate and others segment, respectively.
Depreciation and amortization by segment for the year ended December 31, 2023, 2022 and 2021 are as follows:
|  | For the years ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Depreciation and amortization: |  |  |  |  |  |  |  |  |
Secured logistics |  | $ | 3,256,128 |  |  | $ | 3,373,660 |  |  | $ | 4,407,085 |
Robotics AI solutions |  |  | 1,738,563 |  |  |  | 2,497,153 |  |  |  | 625,557 |
General security solutions |  |  | 248,549 |  |  |  | 110,594 |  |  |  | - |
|  | $ | 5,243,240 |  |  | $ | 5,981,407 |  |  | $ | 5,032,642 |
Total assets by segment as of December 31, 2023 and 2022 are as follows: Total assets
|  | As at December 31, |
|  | 2023 |  |  | 2022 |
Secured logistics |  | $ | 21,613,383 |  |  | $ | 25,315,845 |
Robotics AI solutions |  |  | 3,127,857 |  |  |  | 23,577,547 |
General security solutions |  |  | 2,836,403 |  |  |  | 4,260,811 |
Corporate and others |  |  | 18,035,342 |  |  |  | 7,397,254 |
Information security |  |  | 201,963 | * |  |  | 615,517 |
|  | $ | 45,814,948 |  |  | $ | 61,166,974 |
* | As of December 31, 2023, the total assets for information security segment were presented as assets held for sale on the consolidated balance sheets.
Total non-current assets by geographical segment as of December 31, 2023 and 2022 are as follows: Total non-current assets
|  | As at December 31, |
|  | 2023 |  |  | 2022 |
The PRC (including Hong Kong and Macau) |  | $ | 3,289,170 |  |  | $ | 11,234,176 |
Thailand |  |  | 10,472,012 |  |  |  | 14,223,714 |
Other countries |  |  | 933,174 |  |  |  | 446,020 |
|  | $ | 14,694,356 |  |  | $ | 25,903,910 |

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