Exhibit 99.2

TROOPS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

AS OF JUNE 30, 2025, AND DECEMBER 31, 2024

(In thousands of U.S. dollars except share and per share data)

	As of
	June 30, 2025			December 31, 2024
	(Unaudited)
ASSETS
CURRENT ASSETS
Cash	$	5,232		$	5,173
Trade receivables, net		1,153			1,136
Loan receivables, net of provision for loan losses of $5,490 and $5,490, respectively		15,352			12,612
Interest receivables		511			162
Other receivables, prepayments and deposits, net of provision for credit losses of $10 and $10, respectively		542			471
Total current assets		22,790			19,554
NON-CURRENT ASSETS
Plant and equipment, net		43,905			44,913
Operating lease right-of-use assets, net		15			26
Intangible assets, net		1,322			1,367
Long-term loan receivables, net of $1 and $1 provision for loan losses		8,009			977
Goodwill		12,348			12,348
Total non-current assets		65,599			59,631
Total assets	$	88,389		$	79,185
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES
Amount due to as shareholder	$	—		$	1,538
Accounts payable		1,479			1,633
Other payables and accrued liabilities		1,233			1,863
Deferred revenue		87			87
Operating lease liability, current		15			22
Customer deposits		4			5
Taxes payable		767			769
Total current liabilities		3,585			5,917
LONG-TERM LIABILITIES
Operating lease liability, non-current		—			4
Non-current deferred tax liabilities		4,879			5,015
Total non-current liabilities		4,879			5,019
Total liabilities		8,464			10,936
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS’ EQUITY
Preferred stock, $0.001 par value, 10,000,000 shares authorized, nil and nil issued and outstanding as of June 30, 2025 and December 31, 2024, respectively		—			—
Ordinary shares, $0.004 par value, 500,000,000 shares authorized, 126,560,166 and 112,510,166 issued and outstanding as of June 30, 2025 and December 31, 2024, respectively		506			450
Additional paid-in-capital		169,404			156,815
Accumulated deficit		(89,977	)		(89,011	)
Accumulated other comprehensive loss		(8	)		(5	)
Total TROOPS, Inc. shareholders’ equity		79,925			68,249
Total liabilities and shareholders’ equity	$	88,389		$	79,185

TROOPS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

FOR THE SIX MONTHS ENDED JUNE 30, 2025 AND 2024

(In thousands of U.S. dollars except share and per share data)

	2025			2024
	(Unaudited)			(Unaudited)
REVENUES	$	7,620		$	2,609
COST OF REVENUES		(6,492	)		(1,911	)
GROSS PROFIT		1,128			698
OPERATING EXPENSES:
General and administrative expenses		(2,360	)		(2,183	)
Total operating expenses		(2,360	)		(2,183	)
OPERATING LOSS		(1,232	)		(1,485	)
OTHER (EXPENSES) INCOME:
Interest income		50			5
Other income (expense), net		79			(2	)
Total other income, net		129			3
LOSS BEFORE PROVISION FOR INCOME TAXES		(1,103	)		(1,482	)
INCOME TAX BENEFIT		137			126
NET LOSS	$	(966	)	$	(1,356	)
OTHER COMPREHENSIVE LOSS:
Foreign currency translation adjustment		3			(4	)
COMPREHENSIVE LOSS	$	(969	)	$	(1,356	)
LOSS PER SHARE:
Basic	$	(0.01	)	$	(0.01	)
Diluted	$	(0.01	)	$	(0.01	)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES:
Basic		115,085,999			101,597,998
Diluted		115,085,999			101,597,998