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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net loss $ (2,937,506) $ (198,997)
Adjustments to reconcile net loss to net cash used in from operating activities:    
Amortization of right of use asset 15,620 12,754
Allowances for expected credit losses 1,372,573 0
Bad debts 4,175 0
Depreciation of property, plant and equipment 63,147 66,608
Dividend income (48,892) (34,523)
Fair value (gain)/loss on other investments (223,284) 128,683
Loss on disposal of other investments 0 1,798
Interest 6,794 5,521
Property, plant and equipment written off 18 0
Share-base compensation 601,741 0
Stock written off 392 0
Operating loss before working capital changes (1,145,222) (18,156)
Changes in operating assets and liabilities:    
Inventories (130,502) 425,972
Trade and other receivables 505,667 638,401
Deferred cost of revenue 0 67,606
Trade and other payables (364,617) (769,436)
Advance payment from customer (14,905) (21,810)
Deferred revenue 0 (77,276)
Operating lease liabilities 81,989 (17,009)
Tax recoverable 27,904 (153,209)
Net cash (used in)/generated from operating activities (1,039,686) 75,083
Cash flows from investing activities:    
Acquisition of other investment (296,109) (397,974)
Dividend income 48,892 34,523
Purchase of plant and equipment (148,461) (37,144)
Proceeds from disposal of other investments 26,854 0
Net cash used in investing activities (368,824) (400,595)
Cash flows from financing activities:    
Interest (6,794) (5,521)
Repayment of finance lease 0 (34,038)
Shares subscriptions 5,750,000 150,000
Net cash generated from financing activities 5,743,206 110,441
Foreign currency translation adjustment (306,677) (446,579)
NET CHANGE IN CASH AND CASH EQUIVALENTS 4,028,019 661,650
CASH AND CASH EQUIVALENTS, BEGINNING OF FINANCIAL PERIOD 2,118,864 2,123,919
CASH AND CASH EQUIVALENTS, END OF FINANCIAL PERIOD 6,146,883 1,462,269
CASH AND CASH EQUIVALENTS INFORMATION:    
Fixed deposits placed with financial institutions 1,442,098 984,088
Cash at bank 4,704,785 478,181
Cash and cash equivalents, end of financial period 6,146,883 1,462,269
Supplementary cash flow information:    
Interest paid 9,746 7,717
Income tax refunded 315 0
Income taxes paid $ 47,808 $ 123,599