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Consolidated Balance Sheets - USD ($)
Dec. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 20,235,227 $ 6,930,639
Restricted cash 100,764
Trade receivables 5,630,805 5,400,186
Other receivables 817,564
Other current assets 1,665,571 1,743,008
Withholding taxes receivable, net 607,221 757,024
Inventories 506,403 5,105,770
Amount due from related parties 2,172,638 14,508,873
Assets held for sale 201,963  
Total current assets 31,120,592 35,263,064
Non-current assets:    
Restricted cash 1,608,762 1,300,005
Property, plant and equipment 4,043,725 8,066,761
Right-of-use assets 2,688,208 4,171,409
Intangible assets, net 2,836,250 5,793,143
Goodwill 411,862 2,679,445
Withholding taxes receivable, net 1,617,625 1,934,072
Deferred tax assets, net 1,085,477 1,511,753
Other non-current assets 402,447 447,322
Total non-current assets 14,694,356 25,903,910
Total assets 45,814,948 61,166,974
Current liabilities:    
Trade and other payables 3,016,850 2,633,995
Borrowings 337,241 3,181,616
Borrowing from a related party 3,104,149 3,148,500
Current portion of operating lease liabilities 1,239,066 1,774,192
Current portion of finance lease liabilities, net 108,597 398,136
Other current liabilities 3,171,643 2,477,369
Amount due to related parties 2,898,506 3,868,691
Convertible note payable 1,730,267
Liabilities directly associated with the assets held for sale 130,876
Total current liabilities 14,006,928 19,212,766
Non-current liabilities:    
Borrowings 44,410 13,899,818
Operating lease liabilities 1,455,857 2,340,075
Borrowings from related parties   1,455,649
Finance lease liabilities, net 218,996 233,550
Other non-current liabilities   43,200
Provision for employee benefits 4,935,982 4,849,614
Total non-current liabilities 6,655,245 22,821,906
Total liabilities 20,662,173 42,034,672
Equity    
Ordinary shares – par value $0.12 authorized 300,000,000 shares, issued and outstanding 9,830,373 shares at December 31, 2023; par value $0.12* authorized 7,500,000 shares, issued and outstanding 1,618,977* shares at December 31, 2022 1,179,680 194,313
Subscription receivable (50,000) (50,000)
Additional paid in capital 80,983,164 46,231,302
Legal reserve 223,500 223,500
Warrants reserve 251,036 251,036
Accumulated deficit (58,340,675) (28,769,014)
Accumulated other comprehensive income 985,120 1,112,494
Capital & reserves attributable to equity holders of the Company 25,231,825 19,193,631
Non-controlling interests (79,050) (61,329)
Total equity 25,152,775 19,132,302
Total liabilities and equity $ 45,814,948 $ 61,166,974