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SEGMENT INFORMATION
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
SEGMENT INFORMATION

NOTE 8 - SEGMENT INFORMATION

 

ASC 280, “Segment Reporting” requires disclosure of significant segment expenses and other segment items on an interim and annual basis and requires all annual disclosures about a reportable segment’s profit or loss and assets to be made on an interim basis.

 

The Company’s reportable segments are consistent with its internal organization structure and are regularly reviewed by the Company’s President and Chief Executive Officer (chief operating decision-maker or “CODM”) to allocate resources and assess performance for the entire Company. The CODM does not evaluate performance or allocate resources based on other income or expenses, and therefore such information is not allocated across its reportable segments. Other income or expenses which are not allocated to reportable segments are presented in the consolidated statements of operations and comprehensive income or loss.

 

Existing guidance, which is based on a management approach to segment reporting, establishes requirements to report selected segment information quarterly and to report annually entity-wide disclosures about products and services, major customers, and the countries in which the entity holds material assets and reports revenue. All material operating units qualify for aggregation under “Segment Reporting” due to their similar customer base and similarities in economic characteristics; nature of products and services; and procurement, manufacturing, and distribution processes.

 

The Company operates three reportable business segments:

 

● Service business – provision of corporate advisory and business solution services
   
● Digital business – provision of digital platform and trading of digital assets
   
● Real estate business – trading or leasing of commercial real estate properties in Hong Kong and Malaysia

 

The Company had no inter-segment sales for the years presented. Pursuant to ASU 2023-07, “Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures”, the summarized financial information concerning the Company’s reportable segments is shown as below:

 

(a) By Categories

 

Currently, the Company has three reportable segments that are based on the following business units: service business, digital business and real estate business, respectively.

 

Service business

 

The changes in the performance results for the three months ended March 31, 2026, and 2025 by reportable segment / business unit are as follows:

   2026   2025   $   % 
   For the three months ended
March 31,		   Change 
   2026   2025   $   % 
Revenues from external customers  $295,638   $288,878    6,760    2%
Revenues from related parties   15,108    21,975    (6,867)   (31)%
Cost of revenues   (108,775)   (89,853)   (18,922)   21%
General and administrative expenses   (1,171,120)   (850,373)   (320,747)   38%
Loss from operations  $(969,149)  $(629,373)   (339,776)   54%

 

The changes in equity securities investments without readily determinable fair values (“Equity-Method Investments”), total assets, and capital expenditure for long-lives assets for the period ended March 31, 2026, and 2025 by reportable segment / business unit are as follows:

 

   2026   2025   $   % 
   As of and for the three months ended
March 31,		   Change 
   2026   2025   $   % 
Equity-Method Investments  $17,000,000   $12,073    16,987,927    140,710%
                     
Total assets  $20,255,850   $4,561,630    15,694,220    344%
                     
Expenditures for additions to long-lived assets  $-   $-    -    -%

 

 

Digital business

 

The changes in the performance results for the three months ended March 31, 2026, and 2025 by reportable segment / business unit are as follows:

 

   2026   2025   $   % 
   For the three months ended
March 31,		   Change 
   2026   2025   $   % 
Revenues from external customers  $78,459   $26,256    52,203    199%
Revenues from related parties   -    -    -    -%
Cost of revenues   -    -    -    -%
General and administrative expenses   (42,511)   (98,516)   56,005    (57)%
Loss from operations  $35,948   $(72,260)   108,208    (150)%

 

The changes in Equity-Method Investments, total assets, and capital expenditure for long-lives assets for the period ended March 31, 2026, and 2025 by reportable segment / business unit are as follows:

 

   2026   2025   $   % 
   As of and for the three months ended
March 31,		   Change 
   2026   2025   $   % 
Equity-Method Investments  $-   $-    -    -%
                     
Total assets  $730,761   $761,542    (30,781)   (4)%
                     
Expenditures for additions to long-lived assets  $-   $-    -    -%

 

Real estate business

 

The changes in the performance results for the three months ended March 31, 2026, and 2025 by reportable segment / business unit are as follows:

 

   2026   2025   $   % 
   For the three months ended
March 31,		   Change 
   2026   2025   $   % 
Revenues from external customers  $16,181   $15,646    535    3%
Revenues from related parties   -    -    -    -%
Cost of revenues   (3,974)   (3,789)   (185)   5%
General and administrative expenses   (3,889)   843    (4,732)   (561)%
Income from operations  $8,318   $12,700    (4,382)   (35)%

 

The changes in Equity-Method Investments, total assets, and capital expenditure for long-lives assets for the period ended March 31, 2026, and 2025 by reportable segment / business unit are as follows:

 

   2026   2025   $   % 
   As of and for the three months ended
March 31,		   Change 
   2026   2025   $   % 
Equity-Method Investments  $-   $-    -    -%
                     
Total assets  $902,175   $996,219    (94,044)   (9)%
                     
Expenditures for additions to long-lived assets  $-   $-    -    -%

 

 

(b) By Geography

 

The Company principally operates in three regions, including Hong Kong, Malaysia and China.

 

The distribution of revenues and significant expenses for the three months ended March 31, 2026, by region is as follows:

 

   Hong Kong   Malaysia   China   Total 
   For the three months ended March 31, 2026     
   Hong Kong   Malaysia   China   Total 
                 
Revenues from external customers  $204,277   $141,257   $44,744   $390,278 
Revenues from related parties   7,167    7,941    -    15,108 
Cost of revenues   (59,239)   (27,819)   (25,691)   (112,749)
Advertising and marketing expenses   (22,497)   -    (3,820)   (26,317)
Audit, legal and other professional fees   (90,737)   (2,300)   (1,701)   (94,738)
Consulting fees   (1,917)   (24,079)   -    (25,996)
Depreciation and amortization   (24,661)   (8,903)   (15,897)   (49,461)
Directors’ salaries and compensation   (166,416)   -    -    (166,416)
Staff costs including salaries and allowances, pensions, and other benefits   (121,611)   (53,729)   (153,243)   (328,583)
IT and computer expenses   (2,413)   (2,956)   (513)   (5,882)
Other general and administrative expenses   (31,988)   (30,170)   (457,969)   (520,127)
Loss from operations  $(310,035)  $(758)  $(614,090)  $(924,883)

 

The distribution of Equity-Method Investments and total assets as of March 31, 2026, and expenditures for long-lived assets for the three months ended March 31, 2026, respectively, by region is as follows:

 

   Hong Kong   Malaysia   China   Total 
   As of and for the three months ended March 31, 2026     
   Hong Kong   Malaysia   China   Total 
                 
Equity-Method Investments  $17,000,000   $-   $-   $17,000,000 
                     
Total assets  $19,158,773   $1,272,218   $1,457,795   $21,888,786 
                     
Expenditures for additions to long-lived assets  $-   $-   $-   $- 

 

 

The distribution of revenues and significant expenses for the three months ended March 31, 2025, by region is as follows:

 

   Hong Kong   Malaysia   China   Total 
   For the three months ended March 31, 2025     
   Hong Kong   Malaysia   China   Total 
                 
Revenues from external customers  $217,832   $68,877   $44,071   $330,780 
Revenues from related parties   5,787    16,188    -    21,975 
Cost of revenues   (46,143)   (27,013)   (20,486)   (93,642)
Advertising and marketing expenses   (32,017)   -    (3,328)   (35,345)
Audit, legal and other professional fees   (93,180)   (2,330)   -    (95,510)
Consulting fees   -    (17,214)   -    (17,214)
Depreciation and amortization   (25,764)   (8,826)   (25,428)   (60,018)
Directors’ salaries and compensation   (167,220)   -    -    (167,220)
Staff costs including salaries and allowances, pensions, and other benefits   (234,507)   (78,304)   (83,347)   (396,158)
IT and computer expenses   (2,374)   (49,469)   (405)   (52,248)
Other general and administrative expenses   (86,009)   (27,516)   (10,808)   (124,333)
Loss from operations  $(463,595)  $(125,607)  $(99,731)  $(688,933)

 

The distribution of Equity-Method Investments and total assets as of March 31, 2025, and expenditures for long-lived assets for the three months ended March 31, 2025, respectively, by region is as follows:

 

   Hong Kong   Malaysia   China   Total 
   As of and for the three months ended March 31, 2025     
   Hong Kong   Malaysia   China   Total 
                 
Equity-Method Investments  $12,073   $-   $-   $12,073 
                     
Total assets  $2,648,130   $1,329,721   $2,341,540   $6,319,391 
                     
Expenditures for additions to long-lived assets  $-   $-   $-   $-