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REVERSE ACQUISITION (Tables)

12 Months Ended

Dec. 31, 2022

REVERSE ACQUISITION.

Schedule of allocation of the purchase prices

​

​	​	​	​
​	​	Amount
​		$
Fair value of consideration transferred (1)	​		161,760
​	​	​	​
Fair value of the assets acquired and the liabilities assumed	​	​	​
Cash and cash equivalents	​		4,299
Prepaid expense	​		46,708
Property plant and equipment	​		31
Trademark (Intangible Assets)	​		15,100
Right-of-use assets	​		47
Goodwill	​		143,655
Subtotal of total assets	​		209,840
Short-term bank loan	​		(8,195)
Accounts payable	​		(406)
Advance from customers	​		(461)
Short-term lease liabilities	​		(32)
Other payables	​		(13,198)
Amounts due to RPT	​		(4,288)
Income tax payable	​		(4,079)
Warrants	​		(2,335)
Mezzanine equity-Preferred shares	​		(1,437)
Subtotal of total liabilities	​		(34,431)
Less: Non-controlling interest	​		(7,649)
Less: Preferred shares (2)	​		(6,000)
Total net assets	​		161,760

(1) The fair value of 69,424,993 ordinary shares issued to pre-reverse acquisition KAH shareholders is $161,760 based on the quoted fair market value of $2.33 per ordinary share on June 25, 2021.

(2) It represented Series D convertible preferred shares of KAH issued to Renren Inc. on April 8, 2021 (see Note 15)

Schedule of pro forma information for the period

​

​	​	​	​	​	​	​
​	​	For the years ended December 31,
​		2020			2021
​	​	Unaudited		​	Unaudited
Revenue	​	$	34,367	​	$	257,631
Net loss	​	$	(5,486)	​	$	(191,468)

X

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(2)
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-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
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Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 1
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