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NOTE 1. DESCRIPTION OF ORGANIZATION, BUSINESS OPERATIONS AND GOING CONCERN <p id="xdx_899_eus-gaap--ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDescriptionTextBlock_z3T5uh5eVrgg" style="font: 10pt Times New Roman, Times, Serif; display: none; margin: 0pt; text-align: justify"> SCHEDULE OF PRINCIPAL SUBSIDIARIES InFinT Acquisition Corporation (the “Company”) is a blank check company incorporated in the Cayman Islands on March 8, 2021. The Company was formed for the purpose of acquiring, engaging in a share exchange, share reconstruction and amalgamation with, purchasing all or substantially all of the assets of, entering into contractual arrangements with, or engaging in any other similar business combination with one or more businesses or entities (“Business Combination”). Although the Company is not limited to a particular industry or geographic region for purposes of consummating a Business Combination, the Company intends to focus on businesses in financial technology sections, generally headquartered in North America, Asia, Latin America, Europe and Israel. At December 31, 2023, the Company had not yet commenced any operations. All activity through December 31, 2023 relates to the Company’s formation, the initial public offering (the “Initial Public Offering”) and the search for a target business with which to consummate an initial business combination. The Company will not generate any operating revenues until after the completion of its initial Business Combination, at the earliest. The Company will generate non-operating income in the form of interest income on cash and cash equivalents from the proceeds derived from the Initial Public Offering. The Company has selected December 31 as its fiscal year end. The Company is an early stage and emerging growth company and, as such, the Company is subject to all of the risks associated with early stage and emerging growth companies. The Company’s sponsor is InFinT Capital LLC, a United States based sponsor group (the “Sponsor”). The registration statement for the Company’s Initial Public Offering was declared effective on November 18, 2021. On November 23, 2021, the Company consummated its Initial Public Offering of <span id="xdx_905_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20211123__20211123__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zYxQjJ6sR6lg" title="Number of shares issued">19,999,880 Units (the “Units” and, with respect to the Class A ordinary share included in the Units being offered, the “Public Shares”), at $<span id="xdx_905_eus-gaap--SaleOfStockPricePerShare_iI_pid_c20211123__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z2OJ0w8M0trg" title="Sale of stock price per share">10.00 per Unit, generating gross proceeds of $<span id="xdx_90C_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_c20211123__20211123__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zYjYpFHcNhFh" title="Proceeds from initial public offering">199,998,800, and incurring offering costs of $<span id="xdx_901_eus-gaap--PaymentsOfStockIssuanceCosts_c20211123__20211123__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zrLvhRN4YPM4" title="Offering costs">9,351,106 of which $<span id="xdx_908_ecustom--DeferredUnderwritingFeePayable_c20211123__20211123__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zInrANHgcaRl" title="Deferred underwriting commissions">5,999,964 was for deferred underwriting commissions (see Note 6). Each Unit consists of one Class A ordinary share of the Company and one-half of one redeemable warrant, where each whole warrant entitles the holder to purchase one Class A ordinary share. The Company granted the underwriter a 45-day option to purchase up to an additional 2,608,680 Units at the Initial Public Offering price to cover over-allotments, if any. Simultaneous with the close of the Initial Public Offering, the over-allotment option was exercised in full. Simultaneously with the closing of the Offering, the Company consummated the private placement of an aggregate of 7,796,842 warrants (the “Private Placement Warrants”) to the Sponsor, at a price of $<span id="xdx_900_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20211123__us-gaap--SubsidiarySaleOfStockAxis__custom--PrivatePlacementWarrantsMember_zHJw4bfTnFC3" title="Warrants price per share">1.00 per Private Placement Warrant, generating total gross proceeds of $7,796,842 (the “Private Placement”) (see Note 4). Transaction costs amounted to $9,351,106, consisting of $2,499,985 of underwriting fees, $5,999,964 was for deferred underwriting commissions, $268,617 for the fair value of the representative shares and $582,540 of other offering costs. Following the closing of the Initial Public Offering and the exercise of the over-allotment partially by the underwriter on November 23, 2021, an amount of $202,998,782 ($10.15 per Unit) from the net proceeds of the sale of the Units in the Initial Public Offering and the sale of the Private Placement Warrants of $7,796,842 was placed in a trust account (the “Trust Account”), located in the United States and held as cash items or invested only in U.S. government securities, within the meaning set forth in Section 2(a)(16) of the Investment Company Act of 1940, as amended (the “Investment Company Act”), with a maturity of 185 days or less or in any open-ended investment company that holds itself out as a money market fund selected by the Company meeting the conditions of paragraph (d) of Rule 2a-7 of the Investment Company Act, as determined by the Company, until the earlier of: (i) the completion of a Business Combination and (ii) the distribution of the assets held in the Trust Account, as described below. INFINT ACQUISITION CORPORATION NOTES TO FINANCIAL STATEMENTS The Company has listed the Units on the New York Stock Exchange (“NYSE”). The Company’s management has broad discretion with respect to the specific application of the net proceeds of the Initial Public Offering and sale of the placement units, although substantially all of the net proceeds are intended to be applied generally toward consummating a Business Combination. NYSE rules provide that the Business Combination must be with one or more target businesses that together have a fair market value equal to at least 80% of the balance in the Trust Account (as defined below) (less any deferred underwriting commissions and taxes payable on interest earned and less any interest earned thereon that is released for taxes) at the time of the signing of an agreement to enter into a Business Combination. The Company will only complete a Business Combination if the post-Business Combination company owns or acquires 50% or more of the outstanding voting securities of the target or otherwise acquires a controlling interest in the target sufficient for it not to be required to register as an investment company under the Investment Company Act. There is no assurance that the Company will be able to successfully effect a Business Combination. Upon the closing of the Initial Public Offering, management has agreed that $10.15 per Unit sold in the Initial Public Offering, including the proceeds of the sale of the Private Placement Warrants, will be held in the Trust Account and invested in U.S. government securities, within the meaning set forth in Section 2(a)(16) of the Investment Company Act, with a maturity of 185 days or less, or in any open-ended investment company that holds itself out as a money market fund meeting the conditions of Rule 2a-7 of the Investment Company Act, as determined by the Company, until the earlier of: (i) the consummation of a Business Combination or (ii) the distribution of the funds in the Trust Account to the Company’s shareholders, as described below. The Company will provide its shareholders with the opportunity to redeem all or a portion of their Public Shares upon the completion of a Business Combination either (i) in connection with a shareholder meeting called to approve the Business Combination or (ii) by means of a tender offer. In connection with a proposed business combination, the Company may seek shareholder approval of a Business Combination at a meeting called for such purpose at which shareholders may seek to redeem their shares, regardless of whether they vote for or against a Business Combination. The Company will proceed with a Business Combination only if the Company has net tangible assets of at least $5,000,001 upon such consummation of a Business Combination and, if the Company seeks shareholder approval, a majority of the outstanding shares voted are voted in favor of the Business Combination. If the Company seeks shareholder approval of a Business Combination and it does not conduct redemptions pursuant to the tender offer rules, the Company’s Amended and Restated Memorandum and Articles of Association (the “Charter”) provides that a public shareholder, together with any affiliate of such shareholder or any other person with whom such shareholder is acting in concert or as a “group” (as defined under Section 13 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), will be restricted from seeking redemption rights with respect to 15% or more of the Public Shares without the Company’s prior written consent. The shareholders will be entitled to redeem their Public Shares for a pro rata portion of the amount then in the Trust Account (initially $10.15 per share, plus any pro rata interest earned on the funds held in the Trust Account and not previously released to the Company to pay its tax obligations). The per-share amount to be distributed to shareholders who redeem their Public Shares will not be reduced by the deferred underwriting commissions the Company will pay to the underwriter. There will be no redemption rights upon the completion of a Business Combination with respect to the Company’s warrants or rights. These ordinary shares will be recorded at a redemption value and classified as temporary equity upon the completion of the Initial Public Offering, in accordance with Accounting Standards Codification (“ASC”) Topic 480 “Distinguishing Liabilities from Equity.” INFINT ACQUISITION CORPORATION NOTES TO FINANCIAL STATEMENTS If a shareholder vote is not required and the Company does not decide to hold a shareholder vote for business or other legal reasons, the Company will, pursuant to its Amended and Restated Memorandum and Articles of Association, offer such redemption pursuant to the tender offer rules of the Securities and Exchange Commission (“SEC”), and file tender offer documents containing substantially the same information as would be included in a proxy statement with the SEC prior to completing a Business Combination. In accordance with the provisions of the Charter and the business combination agreement among the Company, FINTECH Merger Sub Corp. (“Merger Sub”), and Seamless Group Inc., (“Seamless”), as amended (the “Business Combination Agreement”), Seamless deposited additional funds in the amount of $<span id="xdx_906_eus-gaap--PaymentsToAcquireInvestments_c20221122__20221122__us-gaap--TypeOfArrangementAxis__custom--BusinessCombinationAgreementMember__us-gaap--BusinessAcquisitionAxis__custom--SeamlessGroupIncMember_z5cUxD3TWzLi" title="Investment of cash in trust account">2,999,982 to the Company’s Trust Account on November 22, 2022 to automatically extend the date by which the Company must consummate a business combination from November 23, 2022 to February 23, 2023. Initial Business Combination On August 3, 2022, INFINT Acquisition Corporation, an exempted company limited by shares incorporated under the laws of the Cayman Islands (“INFINT”), entered into the Business Combination Agreement with Merger Sub and Seamless (as amended on October 20, 2022, November 29, 2022 and February 20, 2023 and may be further amended, the “Business Combination Agreement”). The Business Combination Agreement was unanimously approved by INFINT’s board of directors. If the Business Combination Agreement is approved by INFINT’s shareholders (and the other closing conditions are satisfied or waived in accordance with the Business Combination Agreement), and the transactions contemplated by the Business Combination Agreement are consummated, Merger Sub will merge with and into Seamless (the “Merger”), with Seamless surviving the Merger as a wholly owned subsidiary of INFINT (Seamless, as the surviving entity of the Merger, is referred to herein as “New Seamless” and such transactions are referred to collectively as the “Proposed Transactions”). Under the Business Combination Agreement, holders of Seamless’ shares (“Seamless Shareholders”) are expected to receive $<span id="xdx_904_eus-gaap--BusinessCombinationConsiderationTransferred1_c20220801__20220803__us-gaap--BusinessAcquisitionAxis__custom--FINTECHMergerSubCorpMember__us-gaap--TypeOfArrangementAxis__custom--BusinessCombinationAgreementMember_zvrzbf7FYBQg" title="Business combination consideration transferred">400,000,000 (“Seamless Value”) in aggregate consideration in the form of INFINT ordinary shares, par value $<span id="xdx_904_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20220803__us-gaap--BusinessAcquisitionAxis__custom--FINTECHMergerSubCorpMember__us-gaap--TypeOfArrangementAxis__custom--BusinessCombinationAgreementMember_ztgjfMKki28a" title="Common stock, par value">0.0001 per share (“New INFINT Ordinary Shares”), equal to the quotient obtained by dividing (i) the Seamless Value by (ii) $<span id="xdx_906_eus-gaap--SharesIssuedPricePerShare_iI_c20220803__us-gaap--BusinessAcquisitionAxis__custom--FINTECHMergerSubCorpMember__us-gaap--TypeOfArrangementAxis__custom--BusinessCombinationAgreementMember_zNX98YuVBBr8" title="Share issued price per share">10.00. In accordance with the provisions of the Charter and the Business Combination Agreement, as amended, Seamless deposited additional funds in the amount of $<span id="xdx_90E_eus-gaap--PaymentsToAcquireInvestments_c20221122__20221122__us-gaap--TypeOfArrangementAxis__custom--BusinessCombinationAgreementMember__us-gaap--BusinessAcquisitionAxis__custom--SeamlessGroupIncMember_zOgrXFBRBB78" title="Investment of cash in trust account">2,999,982 to the Company’s Trust Account on November 22, 2022 to automatically extend the date by which the Company must consummate an initial business combination from November 23, 2022 to February 23, 2023. On February 13, 2023, the Company’s shareholders approved a special resolution (the “First Extension”) to amend the Charter to extend the date that the Company has to consummate a business combination from February 23, 2023 to August 23, 2023, or such earlier date as determined by the Company’s board of directors. Under Cayman Islands law, the amendment to the Charter took effect upon approval of the First Extension. On August 18, 2023, the Company’s shareholders approved a special resolution (the “Second Extension”) to amend the Charter to extend the date that the Company has to consummate a business combination from August 23, 2023 to February 23, 2024, or such earlier date as determined by the Company’s board of directors (such date, the “Second Extended Date”). Under Cayman Islands law, the amendment to the Charter took effect upon approval of the Second Extension. In accordance with the Business Combination Agreement, as amended, additional funds in the amount of $<span id="xdx_90E_eus-gaap--Deposits_iI_c20230823__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TrustAccountMember__us-gaap--TypeOfArrangementAxis__custom--BusinessCombinationAgreementMember_zUXR6Zfb4648">290,000 were deposited by Seamless to the Trust Account on February 21, 2023, and the required contributions continued to be deposited on or before the 23rd day of each subsequent calendar month into the Trust Account until the Second Extended Date. In 2023, a total of $<span id="xdx_908_eus-gaap--Deposits_iI_c20230930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TrustAccountMember__us-gaap--TypeOfArrangementAxis__custom--BusinessCombinationAgreementMember_zei99Xn1mSPd">1,740,000 was deposited into the Trust Account as such required contributions. In connection with the votes to approve the Second Extension, the holders of 2,176,003 Class A ordinary shares of the Company properly exercised their right to redeem their shares for cash at a redemption price of approximately $10.94 per share, for an aggregate redemption amount of approximately $23.8 million, leaving approximately $81.1 million in the Trust Account. In accordance with the approval of the Second Extension, additional funds in the amount of $160,000 were deposited into the Trust Account on August 23, 2023, and the lesser of (x) $160,000 and (y) $0.04 per public share multiplied by the number of public shares outstanding on such applicable date (each date on which a Contribution is to be deposited into the trust account, a “Contribution Date”) was deposited into the Company’s Trust Account (a “Contribution”) on the 23rd day of each subsequent calendar month until the Extended Date. As of December 31, 2023, a total of $800,000 was deposited into the Trust Account as such required Contributions. On February 16, 2024, the Company’s shareholders approved an amendment to the Charter to extend the date by which it has to consummate a Business Combination (the “Third Extension”) from February 23, 2024 to November 23, 2024, or such earlier date as determined by the Board (the “Third Extended Date”). Accordingly, the Company has until the Third Extended Date to consummate its initial business combination. In connection with the votes to approve the Third Extension, the holders of <span id="xdx_904_eus-gaap--StockRedeemedOrCalledDuringPeriodShares_c20240216__20240216__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zNr4fOJsEy1h" title="Redeem shares issued">2,661,404 Class A ordinary shares of the Company properly exercised their right to redeem their shares for cash at a redemption price of approximately $<span id="xdx_90C_eus-gaap--SaleOfStockPricePerShare_iI_c20240216__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zfewl6KBwcje" title="Sale of stock, price per share">11.36 per share, for an aggregate redemption amount of approximately $<span id="xdx_904_eus-gaap--StockRedeemedOrCalledDuringPeriodValue_pn4n6_c20240216__20240216__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zOLf9jwMmnic" title="Redeem shares issued, amount">30.26 million, leaving approximately $<span id="xdx_90F_eus-gaap--CommonStockHeldInTrust_iI_pn4n6_c20240216__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zbkYgVWDNJB1" title="Redeem shares issued, trust amount">53.97 million in the Company’s Trust Account. Accordingly, the Company now has until the Third Extended Date to consummate its initial business combination (the “Combination Period”). If the Company is unable to complete a Business Combination within the Combination Period, the Company will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the funds held in the Trust Account (less taxes payable and up to $<span id="xdx_900_eus-gaap--TaxesPayableCurrentAndNoncurrent_iI_c20240216__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zku6d4zv8GV" title="Tax payable">100,000 of interest income to pay dissolution expenses), divided by the number of then outstanding public shares, which redemption will completely extinguish public shareholders’ rights as shareholders (including the right to receive further liquidation distributions, if any) and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the Company’s remaining shareholders and the Company’s board of directors, liquidate and dissolve, subject in the case of clauses (ii) and (iii) to the Company’s obligations under Cayman Islands law to provide for claims of creditors and in all cases subject to the other requirements of applicable law. In accordance with the Business Combination Agreement, as amended, additional funds in the amount of $80,000 were deposited by Seamless to the Trust Account on February 20, 2024, and the required contributions will continue to be deposited on or before the 23rd day of each subsequent calendar month into the Trust Account until the Third Extended Date or the date an initial business combination is completed. The Sponsor has agreed (i) waive their redemption rights with respect to their founder shares and public shares in connection with the completion of the Business Combination; (ii) waive their redemption rights with respect to their founder shares and Public Shares in connection with a shareholder vote to approve an amendment to the Company’s Amended and Restated Memorandum and Articles of Association (A) to modify the substance or timing of the Company’s obligation to allow redemption in connection with the initial Business Combination or to redeem <span id="xdx_907_eus-gaap--BusinessCombinationStepAcquisitionEquityInterestInAcquireePercentage_iI_pid_dp_uPure_c20231231__us-gaap--BusinessAcquisitionAxis__custom--SeamlessGroupIncMember_ztW2Xpj2ZyYh" title="Business combination to redeem, percentage">100% of the Public Shares if the Company has not consummated an initial Business Combination by the Extended Date or (B) with respect to any other material provisions relating to shareholders’ rights or pre-initial business combination activity; (iii) waive their rights to liquidating distributions from the Trust Account with respect to their founder shares if the Company fails to complete the initial Business Combination by the Extended Date although they will be entitled to liquidating distributions from the Trust Account with respect to any public shares they hold if the Company fails to complete its initial business combination within the prescribed time frame; and (iv) vote any founder shares held by them and any public shares purchased during or after the Initial Public Offering (including in open market and privately-negotiated transactions) in favor of the initial business combination. The Sponsor has agreed that it will be liable to the Company, if and to the extent any claims by a vendor for services rendered or products sold to the Company, or a prospective target business with which the Company has discussed entering into a transaction agreement, reduce the amounts in the Trust Account to below $10.15 per share (whether or not the underwriter’s over-allotment option is exercised in full), except as to any claims by a third party who executed a waiver of any and all rights to seek access to the Trust Account and except as to any claims under the Company’s indemnity of the underwriter of the Initial Public Offering against certain liabilities, including liabilities under the Securities Act of 1933, as amended (the “Securities Act”). In the event that an executed waiver is deemed to be unenforceable against a third party, the Sponsor will not be responsible to the extent of any liability for such third party claims. The Company will seek to reduce the possibility that the Sponsor will have to indemnify the Trust Account due to claims of creditors by endeavoring to have all vendors, service providers (except for the company’s independent registered accounting firm), prospective target businesses or other entities with which the Company does business, execute agreements with the Company waiving any right, title, interest or claim of any kind in or to monies held in the Trust Account. The underwriter has agreed to waive its rights to the deferred underwriting commission held in the Trust Account in the event the Company does not complete a Business Combination within the Combination Period and, in such event, such amounts will be included with the funds held in the Trust Account that will be available to fund the redemption of the Public Shares. In the event of such distribution, it is possible that the per share value of the assets remaining available for distribution will be less than the Initial Public Offering price per Unit ($10.15). INFINT ACQUISITION CORPORATION NOTES TO FINANCIAL STATEMENTS Going Concern, Liquidity and Capital Resources As of December 31, 2023, the Company had approximately $43,509 of cash in its operating account and working capital deficit of approximately $4,516,047. Prior to the completion of the Initial Public Offering, the Company’s liquidity needs had been satisfied through the capital contribution of $<span id="xdx_903_eus-gaap--ProceedsFromContributedCapital_c20211207__20211207__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zFU97SH31aHe" title="Capital contribution">25,100 from the Sponsor to purchase the Founder Shares, and a loan of $<span id="xdx_90E_eus-gaap--NotesIssued1_c20211207__20211207__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zwsCoV0FH4Kh" title="Notes issued">400,000 pursuant to the Note issued to the Sponsor, which was repaid on December 7, 2021 (Note 5). Subsequent to the consummation of the Initial Public Offering and Private Placement, the Company’s liquidity needs have been satisfied with the proceeds from the consummation of the Private Placement not held in the Trust Account. Based on the foregoing, management believes that the Company expects to continue to incur significant costs in pursuit of the consummation of a Business Combination. The Company’s liquidity needs prior to the consummation of the Initial Public Offering had been satisfied through proceeds from notes payable and from the issuance of common stock. The Company will be using these funds for paying existing accounts payable, identifying and evaluating prospective initial Business Combination candidates, performing due diligence on prospective target businesses, paying for travel expenditures, selecting the target business to merge with or acquire, and structuring, negotiating and consummating the Business Combination. However, the $43,509 in cash might not be sufficient to allow the Company to operate for at least the next 12 months from the issuance of the financial statements. On August 3, 2022, the Company entered into a Business Combination Agreement with Seamless, as discussed above. The Company intends to complete the proposed business combination before the mandatory liquidation date. However, there can be no assurance that the Company will be able to consummate any business combination by required liquidation date. On February 16, 2024, the Company’s shareholders approved the Third Extension to extend the date by which it has to consummate a Business Combination from February 23, 2024 to the Third Extended Date. Accordingly, the Company has until the Third Extended Date to consummate its initial business combination. In connection with the votes to approve the Third Extension, the holders of <span id="xdx_909_eus-gaap--StockRedeemedOrCalledDuringPeriodShares_c20240216__20240216__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zCtheUQ5I2mi">2,661,404 Class A ordinary shares of the Company properly exercised their right to redeem their shares for cash at a redemption price of approximately $<span id="xdx_908_eus-gaap--SaleOfStockPricePerShare_iI_pid_c20240216__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zGPbo4kkp5qd">11.36 per share, for an aggregate redemption amount of approximately $<span id="xdx_907_eus-gaap--StockRedeemedOrCalledDuringPeriodValue_pn4n6_c20240216__20240216__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zG1Vem0fJ58h">30.26 million, leaving approximately $<span id="xdx_90E_eus-gaap--CommonStockHeldInTrust_iI_pn4n6_c20240216__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zAFXB3XFaOq">53.97 million in the Company’s Trust Account. Management has determined that the mandatory liquidation, should a business combination not occur, and potential subsequent dissolution, raises substantial doubt about the Company’s ability to continue as a going concern for the next twelve months from the issuance of these financial statements.

<p id="xdx_899_eus-gaap--ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDescriptionTextBlock_z3T5uh5eVrgg" style="font: 10pt Times New Roman, Times, Serif; display: none; margin: 0pt; text-align: justify"> SCHEDULE OF PRINCIPAL SUBSIDIARIES

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2608680

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10.15

5000001

10.15

2999982

400000000

0.0001

10.00

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290000

1740000

2176003

10.94

23800000

81100000

160000

0.04

800000

2661404

11.36

30260000

53970000

100000

80000

10.15

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25100

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53970000

NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The accompanying financial statements are presented in U.S. Dollars and conformity with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the rules and regulations of the SEC. Emerging growth company The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved. Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used. INFINT ACQUISITION CORPORATION NOTES TO FINANCIAL STATEMENTS Use of estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates. Cash and Cash Equivalents The Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. The Company had no cash equivalents as of December 31, 2023 and 2022. <p id="xdx_845_ecustom--CashAndMarketableSecuritiesHeldInTrustAccountPolicyTextBlock_z1ojLUEP2Lmj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; background-color: white">Cash and Marketable Securities Held in Trust Account As of December 31, 2023 and 2022, the Company had $83,523,112 and $208,932,880 in cash and marketable securities held in the Trust Account. Offering Costs associated with the Initial Public Offering The Company complies with the requirements of the Financial Accounting Standards Board ASC 340-10-S99-1 and SEC Staff Accounting Bulletin Topic 5A, “Expenses of Offering.” Offering costs of $582,540 consist principally of costs incurred in connection with formation of the Company and preparation for the Initial Public Offering and fair value of representative shares of $268,617. These costs, together with the underwriter discount of $8,499,949 and fair value of the representation shares were charged to additional paid-in capital upon completion of the Initial Public Offering. Class A ordinary shares subject to possible redemption The Company accounts for its ordinary shares subject to possible redemption in accordance with the guidance enumerated in ASC 480 “Distinguishing Liabilities from Equity”. Ordinary shares subject to mandatory redemption are classified as a liability instrument and are measured at fair value. Conditionally redeemable ordinary shares (including ordinary shares that feature redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s control) are classified as temporary equity. At all other times, ordinary shares are classified as shareholders’ equity. The Company’s Class A ordinary shares feature certain redemption rights that are considered by the Company to be outside of the Company’s control and subject to the occurrence of uncertain future events. Accordingly, at December 31, 2023 and 2022, the Class A ordinary shares subject to possible redemption in the amount of $83,523,112 and $208,932,880 are presented as temporary equity, outside of the shareholders’ equity section of the Company’s balance sheets, respectively. The Company’s redeemable ordinary shares is subject to SEC and its staff’s guidance on redeemable equity instruments, which has been codified in ASC 480-10-S99. If it is probable that the equity instrument will become redeemable, the Company has the option to either accrete changes in the redemption value over the period from the date of issuance (or from the date that it becomes probable that the instrument will become redeemable, if later) to the earliest redemption date of the instrument or to recognize changes in the redemption value immediately as they occur and adjust the carrying amount of the instrument to equal the redemption value at the end of each reporting period. The Company has elected to value immediately as they occur. The accretion or remeasurement is treated as a deemed dividend (i.e., a reduction to retained earnings, or in absence of retained earnings, additional paid-in capital). <p id="xdx_894_ecustom--ScheduleOfReconciliationOfOrdinarySharesSubjectToPossibleRedemptionTableTextBlock_zZGysbKspx64" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in">The amount of Class A ordinary shares reflected on the balance sheet are reconciled in the following table: SCHEDULE OF RECONCILIATION OF ORDINARY SHARE SUBJECT TO POSSIBLE REDEMPTION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; width: 78%">Class A ordinary shares subject to possible redemption at January 1, 2022</td><td style="width: 2%"> </td> <td style="text-align: left; width: 1%">$</td><td id="xdx_98B_eus-gaap--AssetsHeldInTrustNoncurrent_iS_pp0p0_c20220101__20221231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zZhW25Nfmgvi" style="text-align: right; width: 18%" title="Class A ordinary shares subject to possible redemption balance">202,998,782</td><td style="text-align: left; width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Accretion of carrying value to initial redemption value</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--TemporaryEquityAccretionToRedemptionValue_pp0p0_c20220101__20221231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zUrNl8HYqMch" style="border-bottom: Black 1pt solid; text-align: right" title="Class A ordinary shares subject to possible redemption balance">5,934,098</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Class A ordinary shares subject to possible redemption at December 31, 2022</td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--AssetsHeldInTrustNoncurrent_iS_pp0p0_c20230101__20231231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zxvnm5IRubla" style="text-align: right" title="Class A ordinary shares subject to possible redemption balance">208,932,880</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accretion of carrying value to initial redemption value</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--TemporaryEquityAccretionToRedemptionValue_pp0p0_c20230101__20231231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zQujjNPYKyJ5" style="text-align: right" title="Class A ordinary shares subject to possible redemption balance">7,715,207</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Redemption of Class A Ordinary Shares</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_ecustom--RedemptionOfClassOrdinaryShares_pp0p0_c20230101__20231231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zHn81EN36Yl8" style="border-bottom: Black 1pt solid; text-align: right" title="Class A ordinary shares subject to possible redemption balance">(133,124,975</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Class A ordinary shares subject to possible redemption at December 31, 2023</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98B_eus-gaap--AssetsHeldInTrustNoncurrent_iE_pp0p0_c20230101__20231231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_z7Na6aP5kf64" style="text-align: right" title="Class A ordinary shares subject to possible redemption balance">83,523,112</td><td style="text-align: left"> </td></tr> </table> Warrants The Company accounts for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in ASC 480, Distinguishing Liabilities from Equity (“ASC 480”) and ASC 815, Derivatives and Hedging (“ASC 815”). The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the warrants meet all of the requirements for equity classification under ASC 815, including whether the warrants are indexed to the Company’s own common stock, among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the time of warrant issuance and as of each subsequent reporting period end date while the warrants are outstanding. All of the Company’s warrants have met the criteria for equity treatment. Income taxes The Company complies with the accounting and reporting requirements of ASC Topic 740, “Income Taxes,” which requires an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed for differences between the financial statement and tax bases of assets and liabilities that will result in future taxable or deductible amounts, based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. ASC Topic 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. The Company’s management determined that the Cayman Islands is the Company’s only major tax jurisdiction. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. There were no unrecognized tax benefits and no amounts accrued for interest and penalties as of December 31, 2023 and December 31, 2022, and for the years then ended. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. INFINT ACQUISITION CORPORATION NOTES TO FINANCIAL STATEMENTS There is currently no taxation imposed on income by the Government of the Cayman Islands. In accordance with Cayman income tax regulations, income taxes are not levied on the Company. Consequently, income taxes are not reflected in the Company’s financial statements. The Company’s management does not expect that the total amount of unrecognized tax benefits will materially change over the next twelve months. Net loss per ordinary share The Company complies with accounting and disclosure requirements of ASC Topic 260, “Earnings Per Share.” The Company applies the two-class method in calculating earnings per share. Earnings and losses are shared pro rata between the two classes of shares. Net loss per share is computed by dividing net loss by the weighted average number of ordinary share outstanding during the period, excluding ordinary share subject to forfeiture. At December 31, 2023 and 2022, the Company did not have any dilutive securities and other contracts that could, potentially, be exercised or converted into ordinary share and then share in the earnings of the Company. As a result, diluted loss per share is the same as basic loss per share for the periods presented. The following table reflects the calculation of basic and diluted net loss per ordinary share (in dollars, except per share amounts): SCHEDULE OF BASIS AND DILUTED NET LOSS PER ORDINARY SHARES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center; font-size: 11pt"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" id="xdx_49F_20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z1bhu0fWRkY8" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Class A</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" id="xdx_491_20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zZd01PIYFobj" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Class B</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" id="xdx_494_20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zzcfPPT3Oou7" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Class A</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" id="xdx_490_20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zW9F51x7f0Eg" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Class B</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center; font-size: 11pt"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">For the year ended December 31, 2023</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">For the year ended December 31, 2022</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center; font-size: 11pt"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Class A</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Class B</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Class A</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Class B</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-style: italic; text-align: left">Basic and diluted net income (loss) per ordinary share </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Numerator: </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--ProfitLoss_iN_pp0p0_di_z4BABA2R9QO6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 44%; text-align: left">Allocation of net income (loss)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">2,003,234</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">1,165,646</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(860,883</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(251,081</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Denominator: </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Basic and diluted weighted average common shares </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_90C_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zJYIXdseM9Zd" title="Basic weighted average common shares"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_904_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zZs1zTfm8Clh" title="Diluted weighted average common shares">10,024,516</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_906_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zKQH3LI6N4n7" title="Basic weighted average common shares"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_901_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zA8EnAHJFwPf" title="Diluted weighted average common shares">5,833,083</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_901_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zW6AH5vIGcXb" title="Basic weighted average common shares"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_907_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z1xzKhtYbwle" title="Diluted weighted average common shares">19,999,880</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_90B_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zxb06gQI8DOk" title="Basic weighted average common shares"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_90A_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zKg1XFDak4O4" title="Diluted weighted average common shares">5,833,083</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Basic and diluted net income (loss) per ordinary share</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_90D_eus-gaap--EarningsPerShareBasic_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zO3c7eIJgRbj" title="Basic net income (loss) per ordinary share"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_901_eus-gaap--EarningsPerShareDiluted_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zBNlnBfSxpc7" title="Diluted net income (loss) per ordinary share">0.20</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_900_eus-gaap--EarningsPerShareBasic_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zvZxO9y0Sncg" title="Basic net income (loss) per ordinary share"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_906_eus-gaap--EarningsPerShareDiluted_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zPLsWC61iHJ4" title="Diluted net income (loss) per ordinary share">0.20</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_90D_eus-gaap--EarningsPerShareBasic_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zLMYW1CMAHQ1" title="Basic net income (loss) per ordinary share"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_901_eus-gaap--EarningsPerShareDiluted_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zUFqq4A65ydk" title="Diluted net income (loss) per ordinary share">(0.04</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_90C_eus-gaap--EarningsPerShareBasic_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zentX9yJDRih" title="Basic net income (loss) per ordinary share"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_90A_eus-gaap--EarningsPerShareDiluted_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zTntgVzU2yqg" title="Diluted net income (loss) per ordinary share">(0.04</td><td style="text-align: left">)</td></tr> </table> Concentration of credit risk Financial instruments that potentially subject the Company to concentration of credit risk consist of a cash account in a financial institution which, at times may exceed the Federal depository insurance coverage of $250,000. At December 31, 2023 and December 31, 2022, the Company had not experienced losses on this account and management believes the Company is not exposed to significant risks on such account. Fair value of financial instruments The fair value of the Company’s assets and liabilities, which qualify as financial instruments under FASB (as defined below) ASC 820, “Fair Value Measurements and Disclosures,” approximates the carrying amounts represented in the accompanying balance sheet, primarily due to their short-term nature. (ee) Other income and expenses (ff) Business combination (gg) Prefunding to remittances partner Recently issued accounting pronouncements Management does not believe that any recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company’s financial statements.

Basis of presentation The accompanying financial statements are presented in U.S. Dollars and conformity with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the rules and regulations of the SEC.

Emerging growth company The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved. Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used. INFINT ACQUISITION CORPORATION NOTES TO FINANCIAL STATEMENTS

Use of estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates.

Cash and Cash Equivalents The Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. The Company had no cash equivalents as of December 31, 2023 and 2022.

<p id="xdx_845_ecustom--CashAndMarketableSecuritiesHeldInTrustAccountPolicyTextBlock_z1ojLUEP2Lmj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; background-color: white">Cash and Marketable Securities Held in Trust Account As of December 31, 2023 and 2022, the Company had $83,523,112 and $208,932,880 in cash and marketable securities held in the Trust Account.

83523112

208932880

Offering Costs associated with the Initial Public Offering The Company complies with the requirements of the Financial Accounting Standards Board ASC 340-10-S99-1 and SEC Staff Accounting Bulletin Topic 5A, “Expenses of Offering.” Offering costs of $582,540 consist principally of costs incurred in connection with formation of the Company and preparation for the Initial Public Offering and fair value of representative shares of $268,617. These costs, together with the underwriter discount of $8,499,949 and fair value of the representation shares were charged to additional paid-in capital upon completion of the Initial Public Offering.

582540

268617

8499949 Class A ordinary shares subject to possible redemption The Company accounts for its ordinary shares subject to possible redemption in accordance with the guidance enumerated in ASC 480 “Distinguishing Liabilities from Equity”. Ordinary shares subject to mandatory redemption are classified as a liability instrument and are measured at fair value. Conditionally redeemable ordinary shares (including ordinary shares that feature redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s control) are classified as temporary equity. At all other times, ordinary shares are classified as shareholders’ equity. The Company’s Class A ordinary shares feature certain redemption rights that are considered by the Company to be outside of the Company’s control and subject to the occurrence of uncertain future events. Accordingly, at December 31, 2023 and 2022, the Class A ordinary shares subject to possible redemption in the amount of $83,523,112 and $208,932,880 are presented as temporary equity, outside of the shareholders’ equity section of the Company’s balance sheets, respectively. The Company’s redeemable ordinary shares is subject to SEC and its staff’s guidance on redeemable equity instruments, which has been codified in ASC 480-10-S99. If it is probable that the equity instrument will become redeemable, the Company has the option to either accrete changes in the redemption value over the period from the date of issuance (or from the date that it becomes probable that the instrument will become redeemable, if later) to the earliest redemption date of the instrument or to recognize changes in the redemption value immediately as they occur and adjust the carrying amount of the instrument to equal the redemption value at the end of each reporting period. The Company has elected to value immediately as they occur. The accretion or remeasurement is treated as a deemed dividend (i.e., a reduction to retained earnings, or in absence of retained earnings, additional paid-in capital). <p id="xdx_894_ecustom--ScheduleOfReconciliationOfOrdinarySharesSubjectToPossibleRedemptionTableTextBlock_zZGysbKspx64" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in">The amount of Class A ordinary shares reflected on the balance sheet are reconciled in the following table: SCHEDULE OF RECONCILIATION OF ORDINARY SHARE SUBJECT TO POSSIBLE REDEMPTION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; width: 78%">Class A ordinary shares subject to possible redemption at January 1, 2022</td><td style="width: 2%"> </td> <td style="text-align: left; width: 1%">$</td><td id="xdx_98B_eus-gaap--AssetsHeldInTrustNoncurrent_iS_pp0p0_c20220101__20221231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zZhW25Nfmgvi" style="text-align: right; width: 18%" title="Class A ordinary shares subject to possible redemption balance">202,998,782</td><td style="text-align: left; width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Accretion of carrying value to initial redemption value</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--TemporaryEquityAccretionToRedemptionValue_pp0p0_c20220101__20221231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zUrNl8HYqMch" style="border-bottom: Black 1pt solid; text-align: right" title="Class A ordinary shares subject to possible redemption balance">5,934,098</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Class A ordinary shares subject to possible redemption at December 31, 2022</td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--AssetsHeldInTrustNoncurrent_iS_pp0p0_c20230101__20231231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zxvnm5IRubla" style="text-align: right" title="Class A ordinary shares subject to possible redemption balance">208,932,880</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accretion of carrying value to initial redemption value</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--TemporaryEquityAccretionToRedemptionValue_pp0p0_c20230101__20231231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zQujjNPYKyJ5" style="text-align: right" title="Class A ordinary shares subject to possible redemption balance">7,715,207</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Redemption of Class A Ordinary Shares</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_ecustom--RedemptionOfClassOrdinaryShares_pp0p0_c20230101__20231231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zHn81EN36Yl8" style="border-bottom: Black 1pt solid; text-align: right" title="Class A ordinary shares subject to possible redemption balance">(133,124,975</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Class A ordinary shares subject to possible redemption at December 31, 2023</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98B_eus-gaap--AssetsHeldInTrustNoncurrent_iE_pp0p0_c20230101__20231231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_z7Na6aP5kf64" style="text-align: right" title="Class A ordinary shares subject to possible redemption balance">83,523,112</td><td style="text-align: left"> </td></tr> </table>

83523112

208932880

<p id="xdx_894_ecustom--ScheduleOfReconciliationOfOrdinarySharesSubjectToPossibleRedemptionTableTextBlock_zZGysbKspx64" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in">The amount of Class A ordinary shares reflected on the balance sheet are reconciled in the following table: SCHEDULE OF RECONCILIATION OF ORDINARY SHARE SUBJECT TO POSSIBLE REDEMPTION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; width: 78%">Class A ordinary shares subject to possible redemption at January 1, 2022</td><td style="width: 2%"> </td> <td style="text-align: left; width: 1%">$</td><td id="xdx_98B_eus-gaap--AssetsHeldInTrustNoncurrent_iS_pp0p0_c20220101__20221231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zZhW25Nfmgvi" style="text-align: right; width: 18%" title="Class A ordinary shares subject to possible redemption balance">202,998,782</td><td style="text-align: left; width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Accretion of carrying value to initial redemption value</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--TemporaryEquityAccretionToRedemptionValue_pp0p0_c20220101__20221231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zUrNl8HYqMch" style="border-bottom: Black 1pt solid; text-align: right" title="Class A ordinary shares subject to possible redemption balance">5,934,098</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Class A ordinary shares subject to possible redemption at December 31, 2022</td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--AssetsHeldInTrustNoncurrent_iS_pp0p0_c20230101__20231231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zxvnm5IRubla" style="text-align: right" title="Class A ordinary shares subject to possible redemption balance">208,932,880</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accretion of carrying value to initial redemption value</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--TemporaryEquityAccretionToRedemptionValue_pp0p0_c20230101__20231231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zQujjNPYKyJ5" style="text-align: right" title="Class A ordinary shares subject to possible redemption balance">7,715,207</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Redemption of Class A Ordinary Shares</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_ecustom--RedemptionOfClassOrdinaryShares_pp0p0_c20230101__20231231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zHn81EN36Yl8" style="border-bottom: Black 1pt solid; text-align: right" title="Class A ordinary shares subject to possible redemption balance">(133,124,975</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Class A ordinary shares subject to possible redemption at December 31, 2023</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98B_eus-gaap--AssetsHeldInTrustNoncurrent_iE_pp0p0_c20230101__20231231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_z7Na6aP5kf64" style="text-align: right" title="Class A ordinary shares subject to possible redemption balance">83,523,112</td><td style="text-align: left"> </td></tr> </table>

202998782

5934098

208932880

7715207

-133124975

83523112

Warrants The Company accounts for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in ASC 480, Distinguishing Liabilities from Equity (“ASC 480”) and ASC 815, Derivatives and Hedging (“ASC 815”). The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the warrants meet all of the requirements for equity classification under ASC 815, including whether the warrants are indexed to the Company’s own common stock, among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the time of warrant issuance and as of each subsequent reporting period end date while the warrants are outstanding. All of the Company’s warrants have met the criteria for equity treatment.

Income taxes The Company complies with the accounting and reporting requirements of ASC Topic 740, “Income Taxes,” which requires an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed for differences between the financial statement and tax bases of assets and liabilities that will result in future taxable or deductible amounts, based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. ASC Topic 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. The Company’s management determined that the Cayman Islands is the Company’s only major tax jurisdiction. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. There were no unrecognized tax benefits and no amounts accrued for interest and penalties as of December 31, 2023 and December 31, 2022, and for the years then ended. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. INFINT ACQUISITION CORPORATION NOTES TO FINANCIAL STATEMENTS There is currently no taxation imposed on income by the Government of the Cayman Islands. In accordance with Cayman income tax regulations, income taxes are not levied on the Company. Consequently, income taxes are not reflected in the Company’s financial statements. The Company’s management does not expect that the total amount of unrecognized tax benefits will materially change over the next twelve months.

Net loss per ordinary share The Company complies with accounting and disclosure requirements of ASC Topic 260, “Earnings Per Share.” The Company applies the two-class method in calculating earnings per share. Earnings and losses are shared pro rata between the two classes of shares. Net loss per share is computed by dividing net loss by the weighted average number of ordinary share outstanding during the period, excluding ordinary share subject to forfeiture. At December 31, 2023 and 2022, the Company did not have any dilutive securities and other contracts that could, potentially, be exercised or converted into ordinary share and then share in the earnings of the Company. As a result, diluted loss per share is the same as basic loss per share for the periods presented. The following table reflects the calculation of basic and diluted net loss per ordinary share (in dollars, except per share amounts): SCHEDULE OF BASIS AND DILUTED NET LOSS PER ORDINARY SHARES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center; font-size: 11pt"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" id="xdx_49F_20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z1bhu0fWRkY8" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Class A</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" id="xdx_491_20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zZd01PIYFobj" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Class B</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" id="xdx_494_20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zzcfPPT3Oou7" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Class A</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" id="xdx_490_20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zW9F51x7f0Eg" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Class B</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center; font-size: 11pt"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">For the year ended December 31, 2023</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">For the year ended December 31, 2022</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center; font-size: 11pt"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Class A</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Class B</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Class A</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Class B</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-style: italic; text-align: left">Basic and diluted net income (loss) per ordinary share </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Numerator: </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--ProfitLoss_iN_pp0p0_di_z4BABA2R9QO6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 44%; text-align: left">Allocation of net income (loss)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">2,003,234</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">1,165,646</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(860,883</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(251,081</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Denominator: </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Basic and diluted weighted average common shares </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_90C_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zJYIXdseM9Zd" title="Basic weighted average common shares"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_904_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zZs1zTfm8Clh" title="Diluted weighted average common shares">10,024,516</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_906_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zKQH3LI6N4n7" title="Basic weighted average common shares"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_901_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zA8EnAHJFwPf" title="Diluted weighted average common shares">5,833,083</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_901_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zW6AH5vIGcXb" title="Basic weighted average common shares"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_907_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z1xzKhtYbwle" title="Diluted weighted average common shares">19,999,880</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_90B_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zxb06gQI8DOk" title="Basic weighted average common shares"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_90A_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zKg1XFDak4O4" title="Diluted weighted average common shares">5,833,083</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Basic and diluted net income (loss) per ordinary share</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_90D_eus-gaap--EarningsPerShareBasic_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zO3c7eIJgRbj" title="Basic net income (loss) per ordinary share"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_901_eus-gaap--EarningsPerShareDiluted_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zBNlnBfSxpc7" title="Diluted net income (loss) per ordinary share">0.20</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_900_eus-gaap--EarningsPerShareBasic_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zvZxO9y0Sncg" title="Basic net income (loss) per ordinary share"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_906_eus-gaap--EarningsPerShareDiluted_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zPLsWC61iHJ4" title="Diluted net income (loss) per ordinary share">0.20</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_90D_eus-gaap--EarningsPerShareBasic_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zLMYW1CMAHQ1" title="Basic net income (loss) per ordinary share"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_901_eus-gaap--EarningsPerShareDiluted_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zUFqq4A65ydk" title="Diluted net income (loss) per ordinary share">(0.04</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_90C_eus-gaap--EarningsPerShareBasic_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zentX9yJDRih" title="Basic net income (loss) per ordinary share"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_90A_eus-gaap--EarningsPerShareDiluted_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zTntgVzU2yqg" title="Diluted net income (loss) per ordinary share">(0.04</td><td style="text-align: left">)</td></tr> </table>

The following table reflects the calculation of basic and diluted net loss per ordinary share (in dollars, except per share amounts): SCHEDULE OF BASIS AND DILUTED NET LOSS PER ORDINARY SHARES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center; font-size: 11pt"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" id="xdx_49F_20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z1bhu0fWRkY8" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Class A</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" id="xdx_491_20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zZd01PIYFobj" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Class B</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" id="xdx_494_20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zzcfPPT3Oou7" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Class A</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" id="xdx_490_20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zW9F51x7f0Eg" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Class B</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center; font-size: 11pt"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">For the year ended December 31, 2023</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">For the year ended December 31, 2022</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center; font-size: 11pt"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Class A</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Class B</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Class A</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Class B</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-style: italic; text-align: left">Basic and diluted net income (loss) per ordinary share </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Numerator: </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--ProfitLoss_iN_pp0p0_di_z4BABA2R9QO6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 44%; text-align: left">Allocation of net income (loss)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">2,003,234</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">1,165,646</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(860,883</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(251,081</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Denominator: </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Basic and diluted weighted average common shares </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_90C_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zJYIXdseM9Zd" title="Basic weighted average common shares"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_904_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zZs1zTfm8Clh" title="Diluted weighted average common shares">10,024,516</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_906_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zKQH3LI6N4n7" title="Basic weighted average common shares"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_901_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zA8EnAHJFwPf" title="Diluted weighted average common shares">5,833,083</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_901_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zW6AH5vIGcXb" title="Basic weighted average common shares"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_907_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z1xzKhtYbwle" title="Diluted weighted average common shares">19,999,880</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_90B_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zxb06gQI8DOk" title="Basic weighted average common shares"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_90A_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zKg1XFDak4O4" title="Diluted weighted average common shares">5,833,083</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Basic and diluted net income (loss) per ordinary share</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_90D_eus-gaap--EarningsPerShareBasic_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zO3c7eIJgRbj" title="Basic net income (loss) per ordinary share"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_901_eus-gaap--EarningsPerShareDiluted_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zBNlnBfSxpc7" title="Diluted net income (loss) per ordinary share">0.20</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_900_eus-gaap--EarningsPerShareBasic_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zvZxO9y0Sncg" title="Basic net income (loss) per ordinary share"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_906_eus-gaap--EarningsPerShareDiluted_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zPLsWC61iHJ4" title="Diluted net income (loss) per ordinary share">0.20</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_90D_eus-gaap--EarningsPerShareBasic_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zLMYW1CMAHQ1" title="Basic net income (loss) per ordinary share"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_901_eus-gaap--EarningsPerShareDiluted_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zUFqq4A65ydk" title="Diluted net income (loss) per ordinary share">(0.04</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_90C_eus-gaap--EarningsPerShareBasic_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zentX9yJDRih" title="Basic net income (loss) per ordinary share"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_90A_eus-gaap--EarningsPerShareDiluted_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zTntgVzU2yqg" title="Diluted net income (loss) per ordinary share">(0.04</td><td style="text-align: left">)</td></tr> </table>

-2003234

-1165646

860883

251081

10024516

5833083

19999880

5833083

0.20

-0.04

Concentration of credit risk Financial instruments that potentially subject the Company to concentration of credit risk consist of a cash account in a financial institution which, at times may exceed the Federal depository insurance coverage of $250,000. At December 31, 2023 and December 31, 2022, the Company had not experienced losses on this account and management believes the Company is not exposed to significant risks on such account.

250000

Fair value of financial instruments The fair value of the Company’s assets and liabilities, which qualify as financial instruments under FASB (as defined below) ASC 820, “Fair Value Measurements and Disclosures,” approximates the carrying amounts represented in the accompanying balance sheet, primarily due to their short-term nature.

(ee) Other income and expenses

(ff) Business combination

(gg) Prefunding to remittances partner

Recently issued accounting pronouncements Management does not believe that any recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company’s financial statements.

NOTE 3. INITIAL PUBLIC OFFERING On November 23, 2021, the Company consummated its Initial Public Offering of <span id="xdx_907_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20211123__20211123__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zAsv11LAtcca" title="Number of shares issued">19,999,880 Units at $<span id="xdx_90B_eus-gaap--SaleOfStockPricePerShare_iI_c20211123__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zYOqQsjZZBdc" title="Sale of stock price per share">10.00 per Unit, generating gross proceeds of $<span id="xdx_900_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_pp0p0_c20211123__20211123__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zPN0tTdiUPha" title="Proceeds from initial public offering">199,998,800, and incurring offering costs of approximately $<span id="xdx_90E_eus-gaap--PaymentsOfStockIssuanceCosts_pp0p0_c20211123__20211123__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zF3d1iZ2X5T5" title="Offering costs">9,351,106 which $<span id="xdx_907_ecustom--UnderwritingFees_pp0p0_c20211123__20211123__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zqK9pQ1mHn45" title="Underwriting fees">2,499,985 was for underwriting fees, $<span id="xdx_902_ecustom--DeferredUnderwritingFeePayable_pp0p0_c20211123__20211123__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z0jJYtvm3rmh" title="Deferred underwriting commissions">5,999,964 was for deferred underwriting commissions, $<span id="xdx_90D_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_pp0p0_c20211123__20211123__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_znDMIyS9KqJg" title="Sale of stock consideration on transaction, fair value">268,617 for the fair value of the representative shares and $<span id="xdx_90E_ecustom--OtherOfferingCosts_pp0p0_c20211123__20211123__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zonX9VKBQgY3" title="Other offering cost">582,540 was for other offering costs. Each Unit consists of one ordinary share and one-half of one redeemable warrant (“Public Warrant”). Each whole Public Warrant entitles the holder to purchase one Class A ordinary share at an exercise price of $11.50 per whole share (see Note 7).

19999880

10.00

199998800

9351106

2499985 5999964

268617

582540

11.50

NOTE 4. PRIVATE PLACEMENT Simultaneously with the closing of the Offering, the Company consummated the private placement of an aggregate of 7,796,842 Private Placement Warrants to the Sponsor, at a price of $<span id="xdx_90B_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20211123__us-gaap--SubsidiarySaleOfStockAxis__custom--PrivatePlacementWarrantsMember_zmJ0qwJU9NO7" title="Warrants price per share">1.00 per Private Placement Warrant, generating total gross proceeds of $<span id="xdx_908_eus-gaap--ProceedsFromIssuanceOfWarrants_pp0p0_c20211123__20211123__us-gaap--SubsidiarySaleOfStockAxis__custom--PrivatePlacementWarrantsMember_zEuHZcO1XJp5" title="Proceeds from warrants gross">7,796,842. The proceeds from the sale of the Private Placement Warrants have been added to the net proceeds from the Initial Public Offering held in the Trust Account. The Private Placement Warrants are identical to the warrants sold in the Initial Public Offering, except as described in Note 7. If the Company does not complete a Business Combination within the Combination Period, the Private Placement Warrants will expire worthless. INFINT ACQUISITION CORPORATION NOTES TO FINANCIAL STATEMENTS

7796842

1.00

7796842

NOTE 5. RELATED PARTY TRANSACTIONS Founder Shares SCHEDULE OF RELATED PARTY TRANSACTIONS At December 31, 2023 and December 31, 2022, the Company issued an aggregate of 5,833,083 Class B ordinary shares to the Sponsor for an aggregate purchase price of $<span id="xdx_90A_eus-gaap--CommonStockValue_iI_c20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__srt--TitleOfIndividualAxis__custom--SponsorMember_zNQBkryQLTua" title="Common stock value issued"><span id="xdx_908_eus-gaap--CommonStockValue_iI_c20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__srt--TitleOfIndividualAxis__custom--SponsorMember_zpUWw96JzwPe" title="Common stock value issued">25,100 in cash. Our Sponsor transferred <span id="xdx_90F_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__srt--TitleOfIndividualAxis__custom--EFHuttonMember_zwvnUE7aE99c" title="Number of shares issued"><span id="xdx_90A_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__srt--TitleOfIndividualAxis__custom--EFHuttonMember_z9JmQTxDAdhj" title="Number of shares issued">69,999 Class B ordinary shares to EF Hutton and <span id="xdx_906_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__srt--TitleOfIndividualAxis__custom--JonesTradingMember_zOuOhn6lQZze" title="Number of shares issued"><span id="xdx_906_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__srt--TitleOfIndividualAxis__custom--JonesTradingMember_zsTwUVDcMTei" title="Number of shares issued">30,000 Class B ordinary shares to JonesTrading as Representative Shares (the Representative Shares are deemed to be underwriter’s compensation by the Financial Industry Regulatory Authority (“FINRA”) pursuant to Rule 5110 of the FINRA Manual). The initial shareholders collectively own <span id="xdx_908_ecustom--PercentageOfIssuedAndOutstandingSharesAfterInitialPublicOffering_iI_pid_dp_uPure_c20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zXOsfgFJ4Oae" title="Percentage of initial public offering"><span id="xdx_900_ecustom--PercentageOfIssuedAndOutstandingSharesAfterInitialPublicOffering_iI_pid_dp_uPure_c20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zwP1TiVcCN4d" title="Percentage of initial public offering">22.58% of the Company’s issued and outstanding shares after the Initial Public Offering (assuming the initial shareholders do not purchase any Public Shares in the Initial Public Offering and excluding the Placement Units and underlying securities). The initial shareholders have agreed not to transfer, assign or sell any of the Class B ordinary share (except to certain permitted transferees) or any of the Class B ordinary shares (or the Class A ordinary shares into which they be converted) until, the earlier of (i) nine months after the date of the consummation of a Business Combination, or (ii) the date on which the closing price of the Company’s Class A ordinary shares equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations and recapitalizations) for any <span id="xdx_90B_ecustom--OrdinarySharesTradingDays_dc_uInteger_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--TitleOfIndividualAxis__custom--AffiliateSponsorMember_zyX5iwdGJS04" title="Ordinary shares trading days">20-trading days within any 30-trading day period commencing after a Business Combination, or earlier, if, subsequent to a Business Combination, the Company consummates a subsequent liquidation, merger, stock exchange or other similar transaction which results in all of the Company’s shareholders having the right to exchange their ordinary share for cash, securities or other property. IPO Promissory Note – Related Party On April 20, 2021, the Sponsor issued an unsecured promissory note (the “Promissory Note”) to the Company, pursuant to which the Company may borrow up to an aggregate principal amount of up to $<span id="xdx_908_eus-gaap--DebtInstrumentFaceAmount_iI_c20210420__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember__us-gaap--DebtInstrumentAxis__custom--PromissoryNoteMember_zS1xOuP2RBb2" title="Debt principal amount">400,000, to be used for payment of costs related to the Initial Public Offering. The note was interest bearing (<span id="xdx_90C_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20210420__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember__us-gaap--DebtInstrumentAxis__custom--PromissoryNoteMember_ziRSmKxGkeIj" title="Interest rate">0.01% annual rate) and was payable on the earlier of (i) December 31, 2021 or (ii) the consummation of the Initial Public Offering. These amounts were repaid upon completion of the Initial Public Offering out of the $<span id="xdx_901_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_pp0p0_c20210419__20210420__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--DebtInstrumentAxis__custom--PromissoryNoteMember_zhoVH1Of1TCk" title="Proceeds from offering">696,875 of offering proceeds that has been allocated for the payment of offering expenses. The Company borrowed $<span id="xdx_90D_eus-gaap--ProceedsFromRelatedPartyDebt_pp0p0_c20210419__20210420__us-gaap--DebtInstrumentAxis__custom--PromissoryNoteMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zqgszXUXrHm7" title="Proceeds from note payable related party">338,038 (included interest) under the Promissory Note, and fully repaid the Note in full on <span id="xdx_90F_eus-gaap--DebtInstrumentMaturityDate_c20210419__20210420__us-gaap--DebtInstrumentAxis__custom--PromissoryNoteMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zUcWL2bnPVQd" title="Debt maturity date">December 10, 2021. As of December 31, 2023 and 2022, there was <span id="xdx_902_eus-gaap--OtherLiabilities_iI_do_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_znvn5PKzQuQg" title="Promissory note related party"><span id="xdx_900_eus-gaap--OtherLiabilities_iI_do_c20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zyhR3I8ghtyg" title="Promissory note related party">no outstanding balance under the Promissory Note. Administrative Services Arrangement The Company’s Sponsor has agreed, commencing from the date that the Company’s securities are first listed on NYSE through the earlier of the Company’s consummation of a Business Combination and its liquidation, to make available to the Company certain general and administrative services, including office space, utilities and administrative services, as the Company may require from time to time. The Company has agreed to pay the Sponsor $10,000 per month for these services. For the year ended December 31, 2023, the Company incurred $120,000 in expenses for these services. In addition, the Company reimbursed such affiliate of the Sponsor for certain costs incurred on the Company’s behalf in the amount of $<span id="xdx_90F_eus-gaap--ReimbursementFromLimitedPartnershipInvestment_c20230101__20231231__us-gaap--TypeOfArrangementAxis__custom--AdministrativeServiceAgreementMember_zhJ2kCCEZsq1" title="Reimbursed cost">88,395. For the year ended December 31, 2022, the Company incurred $120,000 in expenses for these services. In addition, the Company reimbursed such affiliate of the Sponsor for certain costs incurred on the Company’s behalf in the amount of $167,618. Related Party Loans and Costs In order to finance transaction costs in connection with a Business Combination, the Company’s Sponsor or an affiliate of the Sponsor, or the Company’s officers and directors may, but are not obligated to, loan the Company funds as may be required (“Working Capital Loans”). Such Working Capital Loans would be evidenced by promissory notes. The notes would either be repaid upon consummation of a Business Combination, without interest, or, at the lender’s discretion, up to $1,500,000 of notes may be converted upon consummation of a Business Combination into additional Private Placement Warrants at a price of $<span id="xdx_902_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20231231__srt--TitleOfIndividualAxis__custom--AffiliateSponsorMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_ztXGThkgarZ3" title="Warrants exercise per share">1.00 per warrant. In the event that a Business Combination does not close, the Company may use a portion of proceeds held outside the Trust Account to repay the Working Capital Loans, but no proceeds held in the Trust Account would be used to repay the Working Capital Loans. On May 1, 2023, the Company issued an unsecured promissory note (the “Note”) in the principal amount of up to $150,000 to the Sponsor, which may be drawn down from time to time prior to the Maturity Date (defined below) upon request by the Company. The Note does not bear interest and the principal balance will be payable on the date on which the Company consummates its initial business combination (such date, the “Maturity Date”). In the event the Company consummates its initial business combination, the Sponsor has the option on the Maturity Date to convert the principal outstanding under the Note into that number of private placement warrants (“Working Capital Warrants”) equal to the portion of the principal amount of the Note being converted divided by $1.00, rounded up to the nearest whole number. The terms of the Working Capital Warrants, if any, would be identical to the terms of the Private Placement Warrants, including the transfer restrictions applicable thereto. The Note was subject to customary events of default, the occurrence of certain of which automatically triggers the unpaid principal balance of the Note and all other sums payable with regard to the Note becoming immediately due and payable. On September 13, 2023, the Company issued an unsecured promissory note (the “Amended Note”) in the principal amount of up to $400,000 to the Sponsor, which may be drawn down from time to time prior to the Maturity Date upon request by the Company. The Amended Note amended, replaced and superseded in its entirety the Note, and any unpaid principal balance of the indebtedness evidenced by the Note has been merged into and evidenced by the Amended Note. The Amended Note does not bear interest and the principal balance will be payable on the Maturity Date. In the event the Company consummates its initial business combination, the Sponsor has the option on the Maturity Date to convert the principal outstanding under the Amended Note into that number of Working Capital Warrants equal to the portion of the principal amount of the Amended Note being converted divided by $1.00, rounded up to the nearest whole number. The terms of the Working Capital Warrants, if any, would be identical to the terms of the Private Placement Warrants, including the transfer restrictions applicable thereto. The Amended Note is subject to customary events of default, the occurrence of certain of which automatically triggers the unpaid principal balance of the Amended Note and all other sums payable with regard to the Amended Note becoming immediately due and payable. As of December 31, 2023 and December 31, 2022, the Company has borrowed $325,000 and nil from the Working Capital Loans, respectively. On March 6, 2024, the Company issued an unsecured promissory note in the principal amount up to $500,000 to Seamless Group Inc. a Cayman Islands exempted company (“Seamless”), which may be drawn down from time to time prior to the Maturity Date (as defined below) upon request by the Company. The Note does not bear interest and the principal balance will be payable on the date on which the Company consummates its initial business combination (such date, the “Maturity Date”). (See Note 9) INFINT ACQUISITION CORPORATION NOTES TO FINANCIAL STATEMENTS Representative Shares On November 23, 2021, the Company assigned 99,999 shares of Class B ordinary share to the representative for nominal consideration (the “Representative Shares”). The Company estimated the fair value of Representative Shares to be $<span id="xdx_90E_eus-gaap--StockIssuedDuringPeriodValueNewIssues_pp0p0_c20211123__20211123__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zyJF6fzMXlak" title="Number of shares issued, value">268,617, which is 2.87% of total offering cost of $9,351,106. The Company recognized the estimated fair value as part of offering costs. The holders of the Representative Shares have agreed not to transfer, assign or sell any such shares until the completion of a Business Combination. In addition, the holders have agreed (i) to waive their redemption rights with respect to such shares in connection with the completion of a Business Combination and (ii) to waive their rights to liquidating distributions from the Trust Account with respect to such shares if the Company fails to complete a Business Combination within the Combination Period. The Representative Shares have been deemed compensation by FINRA and are therefore subject to a lock-up for a period of 180 days immediately following the effective date of the registration statement related to the Initial Public Offering pursuant to Rule 5110I(1) of FINRA’s NASD Conduct Rules. Pursuant to FINRA Rule 5110I(1), these securities will not be the subject of any hedging, short sale, derivative, put or call transaction that would result in the economic disposition of the securities by any person for a period of 180 days immediately following the effective date of the registration statements related to the Initial Public Offering, nor may they be sold, transferred, assigned, pledged or hypothecated for a period of 180 days immediately following the effective date of the registration statements related to the Initial Public Offering except to any underwriter and selected dealer participating in the Initial Public Offering and their bona fide officers or partners.

SCHEDULE OF RELATED PARTY TRANSACTIONS

5833083

25100

69999

30000

0.2258 0.2258

12.00

400000

0.0001

696875

338038

2021-12-10

10000

120000

88395

120000

167618

1500000

1.00

150000

1.00

400000

1.00

325000

500000

99999

268617

0.0287

9351106

NOTE 6. COMMITMENTS AND CONTINGENCIES Registration Rights The holders of the insider shares, as well as the holders of the Private Placement Warrants (and underlying securities) and any securities issued in payment of Working Capital Loans made to the Company, will be entitled to registration rights pursuant to an agreement to be signed prior to or on the effective date of Initial Public Offering. The holders of a majority of these securities are entitled to make up to three demands that the Company register such securities. Notwithstanding anything to the contrary, the underwriter (and/or its designees) may only make a demand registration (i) on one occasion and (ii) during the five year period beginning on the effective date of the Initial Public Offering. The holders of the majority of the insider shares can elect to exercise these registration rights at any time commencing three months prior to the date on which these ordinary share are to be released from escrow. The holders of a majority of the Private Placement Warrants (and underlying securities) and securities issued in payment of working capital loans (or underlying securities) can elect to exercise these registration rights at any time after the Company consummates a Business Combination. In addition, the holders have certain “piggy-back” registration rights with respect to registration statements filed subsequent to the consummation of a Business Combination. Notwithstanding anything to the contrary, the underwriter (and/or its designees) may participate in a “piggy-back” registration only during the seven-year period beginning on the effective date of the Initial Public Offering. The Company will bear the expenses incurred in connection with the filing of any such registration statements. Notwithstanding anything to the contrary, under FINRA Rule 5110, the underwriter and/or its designees may only make a demand registration (i) on one occasion and (ii) during the five-year period beginning on the effective date of the registration statement relating to the Initial Public Offering, and the underwriter and/or its designees may participate in a “piggy-back” registration only during the seven-year period beginning on the effective date of the registration statement relating to the Initial Public Offering. Underwriting Agreement The Company purchased the 2,608,680 units to cover over-allotments at the Initial Public Offering price. The underwriter received a cash underwriting discount of: (i) one and one-quarter percent (<span id="xdx_905_ecustom--PercentageOfUnderwritingDiscount_pid_dp_uPure_c20211123__20211123__us-gaap--TypeOfArrangementAxis__custom--UnderwritingAgreementMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zOgWKvvRMRRe" title="Percentage of underwriting discount">1.25%) of the gross proceeds of the Initial Public Offering, or $<span id="xdx_90B_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_pp0p0_c20211123__20211123__us-gaap--TypeOfArrangementAxis__custom--UnderwritingAgreementMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zRIoKL8wFdVk" title="Proceeds from issuance initial public offering gross">2,499,985, (ii) one half of a percent (<span id="xdx_901_ecustom--PercentageOfUnderwritingDiscount_pid_dp_uPure_c20211123__20211123__us-gaap--TypeOfArrangementAxis__custom--UnderwritingAgreementMember_zfAtNT16md9a" title="Percentage of underwriting discount">0.5%) in the form of representative shares. In addition, the underwriter is entitled to a deferred fee of three percent (<span id="xdx_906_ecustom--PercentageOfUnderwritingDeferredFee_pid_dp_uPure_c20211123__20211123__us-gaap--TypeOfArrangementAxis__custom--UnderwritingAgreementMember_zTC0rGhZiHl9" title="Percent of underwriting deferred fee">3.00%) of the gross proceeds of the Initial Public Offering, or $<span id="xdx_902_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_c20211123__20211123__us-gaap--TypeOfArrangementAxis__custom--UnderwritersAgreementMember__us-gaap--IncomeStatementLocationAxis__custom--DeferredFeeMember_zHqm88hobi09" title="Proceeds from issuance initial public offering gross">5,999,964 upon closing of the Business Combination. The deferred fee will be paid in cash upon the closing of a Business Combination from the amounts held in the Trust Account, subject to the terms of the underwriting agreement. Shareholder Support Agreement Concurrently with the execution of the Business Combination Agreement, INFINT, Seamless Shareholders and Seamless entered into the Shareholder Support Agreement, pursuant to which, among other things, such Seamless Shareholders party thereto agreed to (a) vote their Seamless shares in support and favor of the Business Combination Agreement, the Proposed Transactions and all other matters or resolutions that could reasonably be expected to facilitate the Proposed Transactions, (b) waive any dissenters’ rights in connection with the Transactions, (c) not transfer their respective Seamless shares and (d) terminate the Seamless’ shareholders’ agreement at or prior to Closing. Sponsor Support Agreement Concurrently with the execution of the Business Combination Agreement, Sponsor, INFINT and Seamless had entered into the Sponsor Support Agreement, pursuant to which, among other things, Sponsor agreed to (a) vote at the Company’s shareholder meeting in favor of the Business Combination Agreement and the Proposed Transactions, (b) abstain from redeeming any Sponsor founder shares in connection with the Proposed Transactions, and (c) waive certain anti-dilution provisions contained in the Company’s Memorandum and Articles of Association. Lock-Up Agreement At the Closing, INFINT will enter into individual Lock-Up Agreements with each of certain Seamless Shareholders (each, a “Locked-Up Shareholder”) pursuant to which, among other things, the New INFINT Ordinary Shares held by each Locked-Up Shareholder will be locked-up for a period ending on the earlier of (A) six (6) months following the Closing and (B) the date after the Closing on which INFINT consummates a liquidation, merger, capital stock exchange, reorganization, or other similar transaction with an unaffiliated third party that results in all of INFINT’s shareholders having the right to exchange their INFINT Shares for cash, securities, or other property. Right of First Refusal For a period beginning on the closing of the Initial Public Offering and ending 12 months from the closing of a business combination, the Company has granted EF Hutton a right of first refusal to act as lead-left book running manager and lead left manager for any and all future private or public equity, convertible and debt offerings during such period. In accordance with FINRA Rule 5110(f)(2)I(i), such right of first refusal shall not have a duration of more than three years from the effective date of the registration statement. Risks and Uncertainties Management is currently evaluating the impact of the COVID-19 pandemic on the industry and has concluded that while it is reasonably possible that the virus could have a negative effect on the Company’s financial position, results of its operations, close of the Initial Public Offering, and/or search for a target company, the specific impact is not readily determinable as of the date of these financial statements. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. INFINT ACQUISITION CORPORATION NOTES TO FINANCIAL STATEMENTS

2608680

0.0125

2499985

0.005 0.0300

5999964

NOTE 7. SHAREHOLDER’S EQUITY SHAREHOLDERS’ DEFICIT Preferred Shares — The Company is authorized to issue 5,000,000 preferred shares with a par value of $0.0001 per share with such designation, rights and preferences as may be determined from time to time by the Company’s board of directors. At December 31, 2023 and 2022, there were no preferred shares issued or outstanding. Class A Ordinary share — The Company is authorized to issue 500,000,000 Class A ordinary shares with a par value of $0.0001 per share. Holders of the Company’s Class A ordinary shares are entitled to one vote for each share. At December 31, 2023 and 2022, there were no Class A ordinary shares issued and outstanding (excluding the <span id="xdx_906_eus-gaap--TemporaryEquitySharesAuthorized_iI_c20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zioTWlMFcQyl" title="Class A ordinary shares subject to possible redemption, shares">7,408,425 shares subject to redemption as of December 31, 2023 and <span id="xdx_900_eus-gaap--TemporaryEquitySharesAuthorized_iI_c20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zAWRdpwHfo" title="Class A ordinary shares subject to possible redemption, shares">19,999,880 shares subject to redemption as of December 31, 2022, respectively). Class B Ordinary share — The Company is authorized to issue 50,000,000 Class B ordinary shares with a par value of $0.0001 per share. Holders of the Company’s Class B ordinary shares are entitled to one vote for each share. At December 31, 2023 and December 31, 2022, there were 5,833,083 Class B ordinary shares issued and outstanding. The Sponsor transferred <span id="xdx_909_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__srt--TitleOfIndividualAxis__custom--EFHuttonMember_zCpqW8Lbkw4a">69,999 Class B Ordinary shares to EF Hutton and <span id="xdx_902_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__srt--TitleOfIndividualAxis__custom--JonesTradingMember_zSDEiy8iLao">30,000 Class B ordinary shares to JonesTrading as representative shares. Hence, as of December 31, 2023 and 2022, <span id="xdx_90F_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__srt--TitleOfIndividualAxis__custom--SponsorMember_zw3V8rcPujp8">5,733,084 of Class B ordinary shares were held by the Sponsor and <span id="xdx_901_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pp0p0_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__us-gaap--SubsidiarySaleOfStockAxis__custom--RepresentativeMember_zevSrw2hcp5j">99,999 of such shares were held by the representatives as representative shares. The initial shareholders own 22.58% of the issued and outstanding shares after the Initial Public Offering, assuming the initial shareholders do not purchase any Public Shares in the Initial Public Offering. Class B ordinary share will automatically convert into Class A ordinary share at the time of the Company’s initial business combination on a one-for-one basis. Warrants —The Public Warrants will become exercisable on the later of 30 days after the consummation of a Business Combination and 12 months from the closing of the Initial Public Offering. The Public Warrants will expire five years from the consummation of a Business Combination or earlier upon redemption or liquidation. The Company will not be obligated to deliver any Class A ordinary share pursuant to the exercise of a Public Warrant and will have no obligation to settle such Public Warrant exercise unless a registration statement under the Securities Act covering the issuance of the Class A ordinary share issuable upon exercise of the Public Warrants is then effective and a prospectus relating thereto is current, subject to the Company satisfying its obligations with respect to registration or such issuance is deemed to be exempt under the Securities Act and the securities laws of the state of residence of the registered holder of the warrants. Once the warrants become exercisable, the Company may redeem the Public Warrants: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">in whole and not in part;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">at a price of $0.01 per warrant;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">at any time after the warrants become exercisable,</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">upon not less than 30 days’ prior written notice of redemption to each warrant holder;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">if, and only if, the reported last sale price of the Class A ordinary shares equals or exceeds $18.00 per share (as adjusted for stock splits, stock dividends, reorganizations, and recapitalizations) for any 20 trading days within a 30-trading day period commencing at any time after the warrants become exercisable and ending on the third business day prior to the notice of redemption to warrant holders; and</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">if, and only if, there is a current registration statement in effect with respect to the Class A ordinary shares underlying such warrants.</td></tr> </table> If the Company calls the Public Warrants for redemption, management will have the option to require all holders that wish to exercise the Public Warrants to do so on a “cashless basis,” as described in the warrant agreement. The exercise price and number of Class A ordinary share issuable upon exercise of the warrants may be adjusted in certain circumstances including in the event of a stock dividend, or recapitalization, reorganization, merger or consolidation. However, except as described below, the warrants will not be adjusted for issuance of Class A ordinary share at a price below its exercise price. Additionally, in no event will the Company be required to net cash settle the warrants. If the Company is unable to complete a Business Combination within the Combination Period and the Company liquidates the funds held in the Trust Account, holders of warrants will not receive any of such funds with respect to their warrants, nor will they receive any distribution from the Company’s assets held outside of the Trust Account with the respect to such warrants. Accordingly, the warrants may expire worthless. INFINT ACQUISITION CORPORATION NOTES TO FINANCIAL STATEMENTS In addition, if (x) the Company issues additional Class A ordinary share or equity-linked securities in connection with the closing of a Business Combination at an issue price or effective issue price of less than $9.20 per share of Class A ordinary share (with such issue price or effective issue price to be determined in good faith by the Company’s board of directors, and, in the case of any such issuance to the Sponsor or its affiliates, without taking into account any Founder Shares held by the Sponsor or its affiliates, as applicable, prior to such issuance) (the “Newly Issued Price”), (y) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the funding of a Business Combination on the date of the completion of a Business Combination (net of redemptions), and (z) the volume weighted average trading price of the Company’s Class A ordinary share during the 20 trading day period starting on the trading day after the day on which the Company completes a Business Combination (such price, the “Market Value”) is below $9.20 per share, the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115% of the greater of the Market Value and the Newly Issued Price, and the $18.00 per share redemption trigger price will be adjusted (to the nearest cent) to be equal to 180% of the greater of the Market Value and the Newly Issued Price. The Private Placement Warrants, as well as up to <span id="xdx_901_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pp0p0_c20231231__us-gaap--SubsidiarySaleOfStockAxis__custom--PrivatePlacementWarrantsMember_z5oTWhCHJl3a" title="Warrants issues">1,500,000 warrants underlying additional Private Placement Warrants the Company issues to the Sponsor, officers, directors, initial shareholders or their affiliates in payment of Working Capital Loans made to the Company, will be identical to the warrants underlying the Units being offered in the Initial Public Offering. Pursuant to an agreement that the Company has entered into with the holders of the Private Placement Warrants, the Private Placement Warrants may not, subject to certain limited exceptions, be transferred, assigned or sold by the holder until 30 days after the completion of the Company’s initial business combination. At December 31, 2023 and 2022, there were 9,999,940 Public Warrants outstanding and 7,796,842 warrants (each, a “Private Warrant” and collectively, the “Private Warrants”) outstanding. The Company accounts for warrants as either equity-classified or liability-classified instruments based on an assessment of the instruments’ specific terms and applicable authoritative guidance in ASC 480 and ASC 815, Derivatives and Hedging (“ASC 815”). The assessment considers whether the instruments are free standing financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the instruments meet all of the requirements for equity classification under ASC 815, including whether the instruments are indexed to the Company’s own common shares and whether the instrument holders could potentially require “net cash settlement” in a circumstance outside of the Company’s control, among other conditions for equity classification. This assessment, which requires the use of professional judgment, was conducted at the time of warrant issuance and as of each subsequent period end date while the instruments are outstanding. Management has concluded that the Public Warrants and Private Warrants issued pursuant to the warrant agreement qualify for equity accounting treatment.

5000000

0.0001

500000000

0.0001

7408425

19999880

50000000

0.0001

Holders of the Company’s Class B ordinary shares are entitled to one vote for each share.

5833083

69999

30000

5733084

99999

0.2258

0.01

18.00

In addition, if (x) the Company issues additional Class A ordinary share or equity-linked securities in connection with the closing of a Business Combination at an issue price or effective issue price of less than $9.20 per share of Class A ordinary share (with such issue price or effective issue price to be determined in good faith by the Company’s board of directors, and, in the case of any such issuance to the Sponsor or its affiliates, without taking into account any Founder Shares held by the Sponsor or its affiliates, as applicable, prior to such issuance) (the “Newly Issued Price”), (y) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the funding of a Business Combination on the date of the completion of a Business Combination (net of redemptions), and (z) the volume weighted average trading price of the Company’s Class A ordinary share during the 20 trading day period starting on the trading day after the day on which the Company completes a Business Combination (such price, the “Market Value”) is below $9.20 per share, the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115% of the greater of the Market Value and the Newly Issued Price, and the $18.00 per share redemption trigger price will be adjusted (to the nearest cent) to be equal to 180% of the greater of the Market Value and the Newly Issued Price.

1500000

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7796842

NOTE 8. INITIAL BUSINESS COMBINATION On August 3, 2022, INFINT entered into the Business Combination Agreement with Merger Sub and Seamless. The Business Combination Agreement was unanimously approved by INFINT’s board of directors. If the Business Combination Agreement is approved by INFINT’s shareholders (and the other closing conditions are satisfied or waived in accordance with the Business Combination Agreement), and the transactions contemplated by the Business Combination Agreement are consummated, Merger Sub will merge with and into Seamless, with Seamless surviving the Merger as a wholly owned subsidiary of INFINT. The Business Combination Agreement was amended on October 20, 2022, November 29, 2022 and February 20, 2023. Merger Consideration Under the Business Combination Agreement, Seamless Shareholders are expected to receive Seamless Value in aggregate consideration in the form of New INFINT Ordinary Shares, equal to the quotient obtained by dividing (i) the Seamless Value by (ii) $10.00. INFINT ACQUISITION CORPORATION NOTES TO FINANCIAL STATEMENTS At the effective time, by virtue of the Merger: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">all shares of Seamless issued and outstanding immediately prior to the effective time will be cancelled and converted into the right to receive, in accordance with the terms of the Business Combination Agreement and the Payment Spreadsheet, the number of New INFINT Ordinary Shares set forth in the Payment Spreadsheet;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Seamless options that are outstanding immediately prior to the effective time, whether vested or unvested, will be converted into the Exchanged Options in accordance with the terms of the Company Equity Plan, the Business Combination Agreement and the Payment Spreadsheet. Following the effective time, the Exchanged Options will continue to be governed by the same terms and conditions (including vesting and exercisability terms) as were applicable to the corresponding former Seamless option(s) immediately prior to the effective time.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">the RSUs that are outstanding immediately prior to the effective time will be converted into the Exchanged RSUs in accordance with the terms of the Company Equity Plan, the Business Combination Agreement and the Payment Spreadsheet. Following the effective time, the Exchanged RSUs will continue to be governed by the same terms and conditions (including vesting and exercisability terms) as were applicable to the corresponding former Seamless RSUs immediately prior to the effective time.</td></tr> </table> Proxy Statement/Prospectus and INFINT Shareholder Meeting INFINT and Seamless filed with the SEC a Registration Statement on Form S-4 on September 30, 2022, as amended on December 1, 2022, February 13, 2023, April 18, 2023, June 9, 2023, August 11, 2023, December 7, 2023, and April 22, 2024, which included a proxy statement/prospectus that will be used as a proxy statement to be used in connection with the special meeting of the INFINT shareholders to be held to consider approval and adoption of (i) the Business Combination Agreement and the transactions contemplated therein, (ii) the issuance of New INFINT Ordinary Shares as contemplated by the Business Combination Agreement, (iii) the INFINT Amended and Restated Memorandum and Articles and (iv) any other proposals the parties deem necessary or desirable to effectuate the transactions contemplated by the Business Combination Agreement.

10.00

NOTE 9. SUBSEQUENT EVENTS In accordance with ASC Topic 855, “Subsequent Events”, which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before financial statements are issued, the Company has evaluated all events or transactions that occurred up to the date the audited financial statements were issued. Based upon this review, the Company did not identify any subsequent events that would have required adjustment or disclosure in the condensed financial statements. On January 19, 2024, the Company received a notification (the “Notice”) from the NYSE informing the Company that, because the number of public shareholders is less than 300, the Company is not in compliance with Section 802.01B of the NYSE Listed Company Manual (the “Listing Rule”). The Listing Rule requires the Company to maintain a minimum of 300 public stockholders on a continuous basis. The Notice specifies that the Company has 45 days to submit a business plan that demonstrates how the Company expects to return to compliance with the Listing Rule within 18 months of receipt of the Notice. On March 4, 2024, the Company submitted such a business plan to demonstrate how the Company expects to return to compliance with the Listing Rule within 18 months of receipt of the Notice. The plan is currently under review by the staff of NYSE Regulation. If NYSE Regulation accepts the plan, the Company will be notified in writing and will be subject to periodic reviews including quarterly monitoring for compliance with such plan. If NYSE Regulation does not accept the plan, the Company will be subject to delisting procedures. The Company expects that upon completion of an initial business combination it will have at least 300 public shareholders. The Notice has no immediate impact on the Company’s Class A ordinary shares, and provided the NYSE approves the plan, the Company’s Class A ordinary shares are expected to continue to be listed and traded on the NYSE during the 18-month period, subject to the Company’s compliance with other NYSE listing standards and periodic review by the NYSE of the Company’s progress under the plan. On February 16, 2024, at the Extraordinary General Meeting of the Company, the shareholders of the Company approved a special resolution to amend the Charter to extend the date that the Company has to consummate a business combination from February 23, 2024 to the Third Extended Date. In connection with the votes to approve the Third Extension, the holders of <span id="xdx_90B_eus-gaap--StockRedeemedOrCalledDuringPeriodShares_c20240216__20240216__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zRnqo1pM9PBf" title="Redeem shares issued">2,661,404 Class A ordinary shares of the Company properly exercised their right to redeem their shares for cash at a redemption price of approximately $<span id="xdx_90B_eus-gaap--SaleOfStockPricePerShare_iI_pid_c20240216__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zqZbTMag1E1e" title="Redeem per shares price">11.36 per share, for an aggregate redemption amount of approximately $<span id="xdx_90B_eus-gaap--StockRedeemedOrCalledDuringPeriodValue_pn4n6_c20240216__20240216__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zMjoPcmqi43l" title="Redeem shares issued, amount">30.26 million, leaving approximately $<span id="xdx_90E_eus-gaap--CommonStockHeldInTrust_iI_pn4n6_c20240216__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zdc5yaUETQC4" title="Redeem shares issued, trust amount">53.97 million in the trust account. On March 6, 2024, the Company issued the Note in the principal amount of up to $500,000 to Seamless, which may be drawn down from time to time prior to the Maturity Date upon request by the Company. The Note does not bear interest and the principal balance will be payable on the Maturity Date. The Note is subject to customary events of default, the occurrence of certain of which automatically triggers the unpaid principal balance of the Note and all other sums payable with regard to the Note becoming immediately due and payable. As previously disclosed, the Company, Seamless and FINTECH Merger Sub Corp., a Cayman Islands exempted company and a wholly owned subsidiary of the Company, are parties to the business combination agreement dated August 3, 2022, as amended.

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1660225 2849933

NOTE 1. DESCRIPTION OF ORGANIZATION, BUSINESS OPERATIONS AND GOING CONCERN InFinT Acquisition Corporation (the “Company” or “INFINT”) is a blank check company incorporated in the Cayman Islands on March 8, 2021. The Company was formed for the purpose of acquiring, engaging in a share exchange, share reconstruction and amalgamation with, purchasing all or substantially all of the assets of, entering into contractual arrangements with, or engaging in any other similar business combination with one or more businesses or entities (“Business Combination”). At June 30, 2024, the Company had not yet commenced any operations. All activity through June 30, 2024 relates to the Company’s formation, the initial public offering (the “Initial Public Offering”) and the search for a target business with which to consummate an initial business combination. The Company will not generate any operating revenues until after the completion of its initial business combination, at the earliest. The Company will generate non-operating income in the form of interest income on cash and cash equivalents from the proceeds derived from the Initial Public Offering. The Company has selected December 31 as its fiscal year end. The Company is an early stage and emerging growth company and, as such, the Company is subject to all of the risks associated with early stage and emerging growth companies. The Company’s sponsor is InFinT Capital LLC, a United States based sponsor group (the “Sponsor”). The registration statement for the Company’s Initial Public Offering was declared effective on November 18, 2021. On November 23, 2021, the Company consummated its Initial Public Offering of <span id="xdx_905_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20211123__20211123__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zM3yILKlX2S" title="Number of shares issued">19,999,880 Units (the “Units” and, with respect to the Class A ordinary share included in the Units being offered, the “Public Shares”), at $<span id="xdx_905_eus-gaap--SaleOfStockPricePerShare_iI_pid_c20211123__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z4Ons0UrBUli" title="Sale of stock price per share">10.00 per Unit, generating gross proceeds of $<span id="xdx_90C_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_c20211123__20211123__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zy0rZDvHxgV2" title="Proceeds from initial public offering">199,998,800, and incurring offering costs of $<span id="xdx_901_eus-gaap--PaymentsOfStockIssuanceCosts_c20211123__20211123__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zrArfjg0rh4k" title="Offering costs">9,351,106 of which $<span id="xdx_908_ecustom--DeferredUnderwritingFeePayable_c20211123__20211123__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z9y0zD14MPq3" title="Deferred underwriting commissions">5,999,964 was for deferred underwriting commissions (see Note 6). Each Unit consists of one Class A ordinary share of the Company and one-half of one redeemable warrant (each, a “Public Warrant” and collectively, the “Public Warrants”), where each whole warrant entitles the holder to purchase one Class A ordinary share. The Company granted the underwriter a 45-day option to purchase up to an additional 2,608,680 Units at the Initial Public Offering price to cover over-allotments, if any. Simultaneous with the close of the Initial Public Offering, the over-allotment option was exercised in full. Simultaneously with the closing of the Offering, the Company consummated the private placement of an aggregate of 7,796,842 warrants (the “Private Placement Warrants”) to the Sponsor, at a price of $<span id="xdx_904_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20211123__us-gaap--SubsidiarySaleOfStockAxis__custom--PrivatePlacementWarrantsMember_z8Llt2W8b84j" title="Warrants price per share">1.00 per Private Placement Warrant, generating total gross proceeds of $7,796,842 (the “Private Placement”) (see Note 4). Transaction costs amounted to $9,351,106, consisting of $2,499,985 of underwriting fees, $5,999,964 was for deferred underwriting commissions, $268,617 for the fair value of the representative shares and $582,540 of other offering costs. Following the closing of the Initial Public Offering and the exercise of the over-allotment partially by the underwriter on November 23, 2021, an amount of $202,998,782 ($10.15 per Unit) from the net proceeds of the sale of the Units in the Initial Public Offering and the sale of the Private Placement Warrants of $7,796,842 was placed in a trust account (the “Trust Account”), located in the United States and held as cash items or invested only in U.S. government securities, within the meaning set forth in Section 2(a)(16) of the Investment Company Act of 1940, as amended (the “Investment Company Act”), with a maturity of 185 days or less or in any open-ended investment company that holds itself out as a money market fund selected by the Company meeting the conditions of paragraph (d) of Rule 2a-7 of the Investment Company Act, as determined by the Company, until the earlier of: (i) the completion of a Business Combination and (ii) the distribution of the assets held in the Trust Account, as described below. INFINT ACQUISITION CORPORATION NOTES TO CONDENSED FINANCIAL STATEMENTS (Unaudited) The Company has listed the Units on the New York Stock Exchange (“NYSE”). The Company’s management has broad discretion with respect to the specific application of the net proceeds of the Initial Public Offering and sale of the private placement units (“Placement Units”), although substantially all of the net proceeds are intended to be applied generally toward consummating a Business Combination. NYSE rules provide that the Business Combination must be with one or more target businesses that together have a fair market value equal to at least 80% of the balance in the Trust Account (as defined below) (less any deferred underwriting commissions and taxes payable on interest earned and less any interest earned thereon that is released for taxes) at the time of the signing of an agreement to enter into a Business Combination. The Company will only complete a Business Combination if the post-Business Combination company owns or acquires <span id="xdx_902_ecustom--ConditionForFutureBusinessCombinationThresholdPercentageOwnership_iI_pid_dp_uPure_c20240630_zy0g8QLnvupl" title="Condition for future business combination threshold percentage ownership">50% or more of the outstanding voting securities of the target or otherwise acquires a controlling interest in the target sufficient for it not to be required to register as an investment company under the Investment Company Act. There is no assurance that the Company will be able to successfully effect a Business Combination. Upon the closing of the Initial Public Offering, management has agreed that $10.15 per Unit sold in the Initial Public Offering, including the proceeds of the sale of the Private Placement Warrants, will be held in the Trust Account and invested in U.S. government securities, within the meaning set forth in Section 2(a)(16) of the Investment Company Act, with a maturity of 185 days or less, or in any open-ended investment company that holds itself out as a money market fund meeting the conditions of Rule 2a-7 of the Investment Company Act, as determined by the Company, until the earlier of: (i) the consummation of a Business Combination or (ii) the distribution of the funds in the Trust Account to the Company’s shareholders, as described below. Following the notice of delisting and suspension of trading of Public Warrants by the NYSE due to “abnormally low” price levels, Public Warrants were delisted from the NYSE effective December 13, 2023 and the trading in Public Shares and Units continues on NYSE. The Company will provide its shareholders with the opportunity to redeem all or a portion of their Public Shares upon the completion of a Business Combination either (i) in connection with a shareholder meeting called to approve the Business Combination or (ii) by means of a tender offer. In connection with a proposed Business Combination, the Company may seek shareholder approval of a Business Combination at a meeting called for such purpose at which shareholders may seek to redeem their shares, regardless of whether they vote for or against a Business Combination. The Company will proceed with a Business Combination only if the Company has net tangible assets of at least $5,000,001 upon such consummation of a Business Combination and, if the Company seeks shareholder approval, a majority of the outstanding shares voted are voted in favor of the Business Combination. If the Company seeks shareholder approval of a Business Combination and it does not conduct redemptions pursuant to the tender offer rules, the Company’s Amended and Restated Memorandum and Articles of Association provides that a public shareholder, together with any affiliate of such shareholder or any other person with whom such shareholder is acting in concert or as a “group” (as defined under Section 13 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), will be restricted from seeking redemption rights with respect to 15% or more of the Public Shares without the Company’s prior written consent. The shareholders will be entitled to redeem their Public Shares for a pro rata portion of the amount then in the Trust Account (initially $10.15 per share, plus any pro rata interest earned on the funds held in the Trust Account and not previously released to the Company to pay its tax obligations). The per-share amount to be distributed to shareholders who redeem their Public Shares will not be reduced by the deferred underwriting commissions the Company will pay to the underwriter. There will be no redemption rights upon the completion of a Business Combination with respect to the Company’s warrants or rights. These ordinary shares will be recorded at a redemption value and classified as temporary equity upon the completion of the Initial Public Offering, in accordance with Accounting Standards Codification (“ASC”) Topic 480 “Distinguishing Liabilities from Equity.” INFINT ACQUISITION CORPORATION NOTES TO CONDENSED FINANCIAL STATEMENTS (Unaudited) If a shareholder vote is not required and the Company does not decide to hold a shareholder vote for business or other legal reasons, the Company will, pursuant to its Amended and Restated Memorandum and Articles of Association, offer such redemption pursuant to the tender offer rules of the Securities and Exchange Commission (“SEC”), and file tender offer documents containing substantially the same information as would be included in a proxy statement with the SEC prior to completing a Business Combination. On August 3, 2022, the Company entered into a Business Combination Agreement with FINTECH Merger Sub Corp., an exempted company limited by shares incorporated under the laws of the Cayman Islands and a wholly-owned subsidiary of the Company (“Merger Sub”), and Seamless Group Inc., an exempted company limited by shares incorporated under the laws of the Cayman Islands (“Seamless”) (as amended by an amendment dated October 20, 2022, an amendment dated November 29, 2022 and an amendment dated February 20, 2023, and as may be amended and restated from time to time, the “Business Combination Agreement”). The Business Combination Agreement was unanimously approved by the Company’s board of directors. If the Business Combination Agreement is approved by the Company’s shareholders (and the other closing conditions are satisfied or waived in accordance with the Business Combination Agreement), and the transactions contemplated by the Business Combination Agreement are consummated, Merger Sub will merge with and into Seamless (the “Merger”), with Seamless surviving the Merger as a wholly owned subsidiary of the Company (Seamless, as the surviving entity of the Merger, is referred to herein as “New Seamless” and such transactions are referred to collectively as the “Proposed Transactions”). Under the Business Combination Agreement, holders of Seamless’ shares (“Seamless Shareholders”) are expected to receive $<span id="xdx_904_eus-gaap--BusinessCombinationConsiderationTransferred1_c20220801__20220803__us-gaap--BusinessAcquisitionAxis__custom--FINTECHMergerSubCorpMember__us-gaap--TypeOfArrangementAxis__custom--BusinessCombinationAgreementMember_zhHocB5ty86k" title="Business combination consideration transferred">400,000,000 in aggregate consideration in the form of INFINT ordinary shares, par value $<span id="xdx_904_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20220803__us-gaap--BusinessAcquisitionAxis__custom--FINTECHMergerSubCorpMember__us-gaap--TypeOfArrangementAxis__custom--BusinessCombinationAgreementMember_zQCkhh4EEcKa" title="Common stock, par value">0.0001 per share (“New INFINT Ordinary Shares”), equal to the quotient obtained by dividing (i) the $<span id="xdx_906_eus-gaap--BusinessCombinationConsiderationTransferred1_c20220801__20220803__us-gaap--BusinessAcquisitionAxis__custom--FINTECHMergerSubCorpMember__us-gaap--TypeOfArrangementAxis__custom--BusinessCombinationAgreementMember_zIstzjFTyuik" title="Business combination, consideration transferred">400,000,000 divided by (b) $<span id="xdx_906_eus-gaap--SharesIssuedPricePerShare_iI_c20220803__us-gaap--BusinessAcquisitionAxis__custom--FINTECHMergerSubCorpMember__us-gaap--TypeOfArrangementAxis__custom--BusinessCombinationAgreementMember_z0rIzJZQgJh4" title="Share issued price per share">10.00. In accordance with the provisions of the Charter and the Business Combination Agreement, as amended, Seamless deposited additional funds in the amount of $<span id="xdx_90E_eus-gaap--PaymentsToAcquireInvestments_c20221122__20221122__us-gaap--TypeOfArrangementAxis__custom--BusinessCombinationAgreementMember__us-gaap--BusinessAcquisitionAxis__custom--SeamlessGroupIncMember_zOebIMzWXNwi" title="Investment of cash in trust account">2,999,982 to the Company’s Trust Account on November 22, 2022 to automatically extend the date by which the Company must consummate an initial business combination from November 23, 2022 to February 23, 2023. On February 13, 2023, the Company’s shareholders approved a special resolution (the “First Extension Proposal”) to amend the Charter to extend the date that the Company has to consummate a business combination from February 23, 2023 to August 23, 2023, or such earlier date as determined by the Company’s board of directors (the “First Extended Date”). Under Cayman Islands law, the amendment to the Charter took effect upon approval of the First Extension Proposal. Accordingly, the Company had until August 23, 2023 to consummate its initial business combination. In connection with the votes to approve the First Extension Proposal, the holders of 10,415,452 Class A ordinary shares of the Company properly exercised their right to redeem their shares for cash at a redemption price of approximately $10.49 per share, for an aggregate redemption amount of approximately $<span id="xdx_90A_eus-gaap--StockRedeemedOrCalledDuringPeriodValue_pn4n6_c20230213__20230213__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z6L2sX67vlFe" title="Redeem shares issued, amount">109.31 million, leaving approximately $100.59 million in the Trust Account. On August 18, 2023, the Company’s shareholders approved a special resolution (the “Second Extension Proposal”) to amend the Charter to extend the date that the Company has to consummate a business combination from August 23, 2023 to February 23, 2024, or such earlier date as determined by the Company’s board of directors (such date, the “Second Extended Date”). Under Cayman Islands law, the amendment to the Charter took effect upon approval of the Second Extension Proposal. Accordingly, the Company had until February 23, 2024 to consummate its initial business combination. In connection with the votes to approve the Second Extension Proposal, the holders of 2,176,003 Class A ordinary shares of the Company properly exercised their right to redeem their shares for cash at a redemption price of approximately $10.94 per share, for an aggregate redemption amount of approximately $<span id="xdx_901_eus-gaap--StockRedeemedOrCalledDuringPeriodValue_pn5n6_c20230817__20230818__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zxrvP6g6rU8i" title="Redeem shares issued, amount">23.8 million, leaving approximately $81.1 million in the Trust Account. On February 16, 2024, the Company’s shareholders approved an amendment to the Charter to extend the date by which it has to consummate a Business Combination (the “Third Extension”) from February 23, 2024 to November 23, 2024, or such earlier date as determined by the board of directors (such date, as may be further extended by vote of the Company’s shareholders, the “Third Extended Date”). Under Cayman Islands law, the amendment to the Charter took effect upon approval of the Third Extension Proposal. Accordingly, the Company now has until the Third Extended Date to consummate its initial business combination (the “Combination Period”). In connection with the votes to approve the Third Extension, the holders of 2,661,404 Class A ordinary shares of the Company properly exercised their right to redeem their shares for cash at a redemption price of approximately $11.36 per share, for an aggregate redemption amount of approximately $<span id="xdx_909_eus-gaap--StockRedeemedOrCalledDuringPeriodValue_pn4n6_c20240216__20240216__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zktPPCG3z2O8" title="Redeem shares issued, amount">30.26 million, leaving approximately $53.97 million in the Company’s Trust Account. If the Company is unable to complete a Business Combination within the Combination Period, the Company will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the funds held in the Trust Account (less taxes payable and up to $100,000 of interest income to pay dissolution expenses), divided by the number of then outstanding public shares, which redemption will completely extinguish public shareholders’ rights as shareholders (including the right to receive further liquidation distributions, if any) and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the Company’s remaining shareholders and the Company’s board of directors, liquidate and dissolve, subject in the case of clauses (ii) and (iii) to the Company’s obligations under Cayman Islands law to provide for claims of creditors and in all cases subject to the other requirements of applicable law. There will be no redemption rights or liquidating distributions with respect to the Company’s warrants, which will expire worthless if the Company fails to complete its initial business combination before the Third Extended Date. In accordance with the Business Combination Agreement, as amended, additional funds in the amount of $290,000 were deposited by Seamless to the Trust Account on February 21, 2023, and the required contributions continued to be deposited on or before the 23rd day of each subsequent calendar month into the Trust Account until August 23, 2023. As of August 23, 2023, a total of $1,740,000 was deposited into the Trust Account as such required contributions. In accordance with the approval of the Second Extension Proposal, additional funds in the amount of $160,000 were deposited into the Trust Account on August 23, 2023, and the lesser of (x) $160,000 and (y) $0.04 per public share multiplied by the number of public shares outstanding on such applicable date (each date on which a Contribution is to be deposited into the trust account, a “Contribution Date”) was deposited into the Company’s Trust Account (a “Contribution”) on the 23rd day of each subsequent calendar month until the Second Extended Date. As of November 17, 2023, a total of $640,000 was deposited into the Trust Account as such required contributions. In accordance with the Business Combination Agreement, as amended, additional funds in the amount of $80,000 were deposited by Seamless to the Trust Account on February 20, 2024, and the required contributions will continue to be deposited on or before the 23rd day of each subsequent calendar month into the Trust Account until the Third Extended Date or the date an initial business combination is completed. As of June 30, 2024, a total of $640,000 has been deposited into the Trust Account as such required contribution. As of August 1, 2024, a total of $<span id="xdx_905_eus-gaap--Deposits_iI_c20240801__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TrustAccountMember__us-gaap--TypeOfArrangementAxis__custom--BusinessCombinationAgreementMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zxPW5PwFxJXj">720,000 has been deposited into the Trust Account as such required contributions. INFINT ACQUISITION CORPORATION NOTES TO CONDENSED FINANCIAL STATEMENTS (Unaudited) The Sponsor has agreed (i) waive their redemption rights with respect to their founder shares and public shares in connection with the completion of the Business Combination; (ii) waive their redemption rights with respect to their founder shares and Public Shares in connection with a shareholder vote to approve an amendment to the Company’s Amended and Restated Memorandum and Articles of Association (A) to modify the substance or timing of the Company’s obligation to allow redemption in connection with the initial Business Combination or to redeem <span id="xdx_909_eus-gaap--BusinessCombinationStepAcquisitionEquityInterestInAcquireePercentage_iI_pid_dp_uPure_c20240630__us-gaap--BusinessAcquisitionAxis__custom--SeamlessGroupIncMember_zaIrN1te8HM4" title="Business combination to redeem, percentage">100% of the Public Shares if the Company has not consummated an initial Business Combination by the Third Extended Date or (B) with respect to any other material provisions relating to shareholders’ rights or pre-initial business combination activity; (iii) waive their rights to liquidating distributions from the Trust Account with respect to their founder shares if the Company fails to complete the initial Business Combination by the Third Extended Date although they will be entitled to liquidating distributions from the Trust Account with respect to any public shares they hold if the Company fails to complete its initial business combination within the prescribed time frame; and (iv) vote any founder shares held by them and any public shares purchased during or after the Initial Public Offering (including in open market and privately-negotiated transactions) in favor of the initial business combination. The Sponsor has agreed that it will be liable to the Company, if and to the extent any claims by a vendor for services rendered or products sold to the Company, or a prospective target business with which the Company has discussed entering into a transaction agreement, reduce the amounts in the Trust Account to below $10.15 per share (whether or not the underwriter’s over-allotment option is exercised in full), except as to any claims by a third party who executed a waiver of any and all rights to seek access to the Trust Account and except as to any claims under the Company’s indemnity of the underwriter of the Initial Public Offering against certain liabilities, including liabilities under the Securities Act of 1933, as amended (the “Securities Act”). In the event that an executed waiver is deemed to be unenforceable against a third party, the Sponsor will not be responsible to the extent of any liability for such third party claims. The Company will seek to reduce the possibility that the Sponsor will have to indemnify the Trust Account due to claims of creditors by endeavoring to have all vendors, service providers (except for the company’s independent registered accounting firm), prospective target businesses or other entities with which the Company does business, execute agreements with the Company waiving any right, title, interest or claim of any kind in or to monies held in the Trust Account. The underwriter has agreed to waive its rights to the deferred underwriting commission held in the Trust Account in the event the Company does not complete a Business Combination within the Combination Period and, in such event, such amounts will be included with the funds held in the Trust Account that will be available to fund the redemption of the Public Shares. In the event of such distribution, it is possible that the per share value of the assets remaining available for distribution will be less than the Initial Public Offering price per Unit ($10.15). Going Concern, Liquidity and Capital Resources As of June 30, 2024, the Company had approximately $8,780 of cash in its operating account and working capital deficit of approximately $5,412,119. Prior to the completion of the Initial Public Offering, the Company’s liquidity needs had been satisfied through the capital contribution of $<span id="xdx_903_eus-gaap--ProceedsFromContributedCapital_c20211207__20211207__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zPhEsj7BNFxc" title="Capital contribution">25,100 from the Sponsor to purchase the Founder Shares, and a loan of $<span id="xdx_90E_eus-gaap--NotesIssued1_c20211207__20211207__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zC2RRsGuoWoi" title="Notes issued">400,000 pursuant to the Note issued to the Sponsor, which was repaid on December 7, 2021 (Note 5). Subsequent to the consummation of the Initial Public Offering and Private Placement, the Company’s liquidity needs have been satisfied with the proceeds from the consummation of the Private Placement not held in the Trust Account. INFINT ACQUISITION CORPORATION NOTES TO CONDENSED FINANCIAL STATEMENTS (Unaudited) Based on the foregoing, management believes that the Company expects to continue to incur significant costs in pursuit of the consummation of a Business Combination. The Company’s liquidity needs prior to the consummation of the Initial Public Offering had been satisfied through proceeds from notes payable and from the issuance of common stock. The Company will be using these funds for paying existing accounts payable, identifying and evaluating prospective initial Business Combination candidates, performing due diligence on prospective target businesses, paying for travel expenditures, selecting the target business to merge with or acquire, and structuring, negotiating and consummating the Business Combination. However, the $8,780 in cash might not be sufficient to allow the Company to operate for at least the next 12 months from the issuance of the financial statements. On August 3, 2022, the Company entered into a Business Combination Agreement with Seamless, as discussed above. The Business Combination Agreement was amended by an amendment dated October 20, 2022, an amendment dated November 29, 2022 and an amendment dated February 20, 2023. The Company intends to complete the proposed Business Combination before the mandatory liquidation date. However, there can be no assurance that the Company will be able to consummate any business combination by required liquidation date. On February 16, 2024, the Company’s shareholders approved the Third Extension Proposal. Under Cayman Islands law, the amendment to the Charter took effect upon approval of the Third Extension Proposal. Accordingly, the Company now has until the Third Extended Date to consummate its initial business combination. Management has determined that the mandatory liquidation, should a business combination not occur, and potential subsequent dissolution, raises substantial doubt about the Company’s ability to continue as a going concern for the next twelve months from the issuance of these financial statements.

19999880

10.00

199998800

9351106

5999964

2608680

7796842

1.00

7796842

9351106 2499985 5999964

268617

582540

202998782

10.15

7796842

0.80 0.50

10.15

5000001

10.15

400000000

0.0001

400000000

10.00

2999982

10415452

10.49

109310000

100590000

2176003

10.94

23800000

81100000

2661404

11.36

30260000

53970000

100000

290000

1740000

160000

0.04

640000

80000

640000

720000

10.15

8780

5412119

25100

400000

8780

NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The accompanying financial statements are presented in U.S. Dollars and conformity with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the rules and regulations of the SEC. Emerging growth company The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved. Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used. INFINT ACQUISITION CORPORATION NOTES TO CONDENSED FINANCIAL STATEMENTS (Unaudited) Use of estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates. Cash and Cash Equivalents The Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. The Company had no cash equivalents as of June 30, 2024 and December 31, 2023. <p id="xdx_84C_ecustom--CashAndMarketableSecuritiesHeldInTrustAccountPolicyTextBlock_znkl0DucaUrg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; background-color: white">Cash and Marketable Securities Held in Trust Account As of June 30, 2024 and December 31, 2023, the Company had $55,457,522 and $83,523,112 in cash and marketable securities held in the Trust Account. Offering Costs associated with the Initial Public Offering The Company complies with the requirements of the Financial Accounting Standards Board (“FASB”) ASC 340-10-S99-1 and SEC Staff Accounting Bulletin (“SAB”) Topic 5A, “Expenses of Offering.” Offering costs of $582,540 consist principally of costs incurred in connection with formation of the Company and preparation for the Initial Public Offering and fair value of Representative Shares of $268,617. These costs, together with the underwriter discount of $8,499,949 and fair value of the representation shares were charged to additional paid-in capital upon completion of the Initial Public Offering. Class A ordinary shares subject to possible redemption The Company accounts for its ordinary shares subject to possible redemption in accordance with the guidance enumerated in ASC 480, “Distinguishing Liabilities from Equity” (“ASC 480”). Ordinary shares subject to mandatory redemption are classified as a liability instrument and are measured at fair value. Conditionally redeemable ordinary shares (including ordinary shares that feature redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s control) are classified as temporary equity. At all other times, ordinary shares are classified as shareholders’ equity. The Company’s Class A ordinary shares feature certain redemption rights that are considered by the Company to be outside of the Company’s control and subject to the occurrence of uncertain future events. Accordingly, at June 30, 2024, the Class A ordinary shares subject to possible redemption in the amount of $55,457,522 are presented as temporary equity, outside of the shareholders’ equity section of the Company’s balance sheet. The Company’s redeemable ordinary shares is subject to SEC and its staff’s guidance on redeemable equity instruments, which has been codified in ASC 480-10-S99. If it is probable that the equity instrument will become redeemable, the Company has the option to either accrete changes in the redemption value over the period from the date of issuance (or from the date that it becomes probable that the instrument will become redeemable, if later) to the earliest redemption date of the instrument or to recognize changes in the redemption value immediately as they occur and adjust the carrying amount of the instrument to equal the redemption value at the end of each reporting period. The Company has elected to value immediately as they occur. The accretion or remeasurement is treated as a deemed dividend (i.e., a reduction to retained earnings, or in absence of retained earnings, additional paid-in capital). INFINT ACQUISITION CORPORATION NOTES TO CONDENSED FINANCIAL STATEMENTS (Unaudited) The amounts of Class A ordinary shares reflected on the balance sheets are reconciled in the following table: SCHEDULE OF RECONCILIATION OF ORDINARY SHARE SUBJECT TO POSSIBLE REDEMPTION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; font-weight: bold; text-align: left">Class A ordinary shares subject to possible redemption at January 1, 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--TemporaryEquityCarryingAmountAttributableToParent_iS_pp0p0_c20230101__20231231_zI89O0q2wgXj" style="width: 16%; text-align: right" title="Class A ordinary shares subject to possible redemption balance">208,932,880</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accretion of carrying value to initial redemption value</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--TemporaryEquityAccretionToRedemptionValue_pp0p0_c20230101__20231231_zumA28yv2lCk" style="text-align: right" title="Class A ordinary shares subject to possible redemption balance">7,715,207</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Redemption of Class A ordinary shares</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_98E_eus-gaap--PaymentsForRepurchaseOfCommonStock_iN_pp0p0_di_c20230101__20231231_zJ86ST7j4n7h" style="border-bottom: Black 1.5pt solid; text-align: right" title="Class A ordinary shares subject to possible redemption balance">(133,124,975</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Class A ordinary shares subject to possible redemption at December 31, 2023</td><td> </td> <td style="text-align: left">$</td><td id="xdx_982_eus-gaap--TemporaryEquityCarryingAmountAttributableToParent_iS_pp0p0_c20240101__20240630_zNzA6ckZlA9j" style="text-align: right" title="Class A ordinary shares subject to possible redemption balance">83,523,112</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accretion of carrying value to initial redemption value</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--TemporaryEquityAccretionToRedemptionValue_pp0p0_c20240101__20240630_zEjInOP65Gxa" style="text-align: right" title="Class A ordinary shares subject to possible redemption balance">2,220,225</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Redemption of Class A ordinary shares</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_98A_eus-gaap--PaymentsForRepurchaseOfCommonStock_iN_pp0p0_di_c20240101__20240630_zd3qAZjUBkMh" style="border-bottom: Black 1.5pt solid; text-align: right" title="Class A ordinary shares subject to possible redemption balance">(30,285,815</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Class A ordinary shares subject to possible redemption at June 30, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_987_eus-gaap--TemporaryEquityCarryingAmountAttributableToParent_iE_pp0p0_c20240101__20240630_zIgWLFNyQ8bh" style="border-bottom: Black 2.5pt double; text-align: right" title="Class A ordinary shares subject to possible redemption balance">55,457,522</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Warrants The Company accounts for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in ASC 480 and ASC 815, “Derivatives and Hedging” (“ASC 815”). The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the warrants meet all of the requirements for equity classification under ASC 815, including whether the warrants are indexed to the Company’s own Common Stock, among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the time of warrant issuance and as of each subsequent reporting period end date while the warrants are outstanding. All of the Company’s warrants have met the criteria for equity treatment. Income taxes The Company complies with the accounting and reporting requirements of ASC 740, “Income Taxes” (“ASC 740”), which requires an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed for differences between the financial statement and tax bases of assets and liabilities that will result in future taxable or deductible amounts, based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. ASC 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. The Company’s management determined that the Cayman Islands is the Company’s only major tax jurisdiction. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. There were no unrecognized tax benefits and no amounts accrued for interest and penalties as of June 30, 2024 and December 31, 2023, and for the three months ended June 30, 2023. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. There is currently no taxation imposed on income by the Government of the Cayman Islands. In accordance with Cayman income tax regulations, income taxes are not levied on the Company. Consequently, income taxes are not reflected in the Company’s financial statements. The Company’s management does not expect that the total amount of unrecognized tax benefits will materially change over the next twelve months. INFINT ACQUISITION CORPORATION NOTES TO CONDENSED FINANCIAL STATEMENTS (Unaudited) Net income per ordinary share The Company complies with accounting and disclosure requirements of ASC 260, “Earnings Per Share.” The Company applies the two-class method in calculating earnings per share. Earnings and losses are shared pro rata between the two classes of shares. Net income per share is computed by dividing net income by the weighted average number of ordinary share outstanding during the period, excluding ordinary share subject to forfeiture. At June 30, 2024, the Company did not have any dilutive securities and other contracts that could, potentially, be exercised or converted into ordinary share and then share in the earnings of the Company. As a result, diluted income per share is the same as basic income per share for the periods presented. The following table reflects the calculation of basic and diluted net income per ordinary share (in dollars, except per share amounts): SCHEDULE OF BASIS AND DILUTED NET LOSS PER ORDINARY SHARES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_499_20240401__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zYNIkLDTBIC2" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_496_20240401__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_z23gOaFAi2j8" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_497_20230401__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zmvmvIyvjfh5" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_492_20230401__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zglwofJExQQl" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="14" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">For the three months ended June 30</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Class A</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Class B</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Class A</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Class B</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-style: italic; text-align: left">Basic and diluted net income per ordinary share</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Numerator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--ProfitLoss_iN_pp0p0_di_zfKxHQxAan02" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: left; padding-left: 0.5pt">Allocation of net income</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">78,092</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">95,958</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">448,793</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">273,136</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0.5pt">Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; padding-left: 0.5pt">Basic and diluted weighted average common shares</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span id="xdx_90C_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20240401__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zyeJ995QkQyh" title="Basic weighted average common shares"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_90A_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20240401__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zVncqlgHCoG1" title="Diluted weighted average common shares">4,747,021</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span id="xdx_90C_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20240401__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zSJv93DNVcjj" title="Basic weighted average common shares"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_907_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20240401__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_z5d9P8TVXA4d" title="Diluted weighted average common shares">5,833,083</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span id="xdx_909_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20230401__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zduhMf4rdRv3" title="Basic weighted average common shares"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_90A_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20230401__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zDPKPpEYi8d5" title="Diluted weighted average common shares">9,584,428</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span id="xdx_90F_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20230401__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zBTGVkAExvm1" title="Basic weighted average common shares"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_90E_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zW6L92X9F6V3" title="Diluted weighted average common shares">5,833,083</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 0.5pt">Basic and diluted net income per ordinary share</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_904_eus-gaap--EarningsPerShareDiluted_c20240401__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zOYa7RDKEkD1" title="Diluted net income (loss) per ordinary share">0.02</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_904_eus-gaap--EarningsPerShareDiluted_c20240401__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zkdRYWINBVJc" title="Diluted net income (loss) per ordinary share">0.02</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_904_eus-gaap--EarningsPerShareDiluted_c20230401__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z3gyVn4WOFNk" title="Diluted net income (loss) per ordinary share">0.05</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_906_eus-gaap--EarningsPerShareDiluted_c20230401__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zwHYnkrzz3Gh" title="Diluted net income (loss) per ordinary share">0.05</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_491_20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zPbTibS0R4r2" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_492_20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zXxvxZAEJgsb" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49A_20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zEHQwrzMI9W6" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_498_20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zkj0S8YW9B0h" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="14" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">For the six months ended June 30</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Class A</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Class B</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Class A</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Class B</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-style: italic; text-align: left">Basic and diluted net income per ordinary share</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Numerator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--ProfitLoss_iN_pp0p0_di_zyfcFQzXLDYh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: left; padding-left: 0.5pt">Allocation of net income</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">368,040</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">396,113</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">1,159,361</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">560,806</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0.5pt">Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; padding-left: 0.5pt">Basic and diluted weighted average common shares</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span id="xdx_905_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_znartJVyM1Xk" title="Basic weighted average common shares"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_903_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zVOUMmqQPuve" title="Diluted weighted average common shares">5,419,684</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span id="xdx_907_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_z4HZF898XNNe" title="Basic weighted average common shares"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_90D_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zKaFYwHKaXd3" title="Diluted weighted average common shares">5,833,083</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span id="xdx_906_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zVJCJBSIGSNk" title="Basic weighted average common shares"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_90B_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zT8tAA2gCoY" title="Diluted weighted average common shares">12,058,817</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span id="xdx_903_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_z9GotYJ3WBr6" title="Basic weighted average common shares"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_90C_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zFbCk4L0mGT4" title="Diluted weighted average common shares">5,833,083</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 0.5pt">Basic and diluted net income per ordinary share</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_90B_eus-gaap--EarningsPerShareDiluted_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zgOwIeSEJ1Q4" title="Diluted net income (loss) per ordinary share">0.07</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_90D_eus-gaap--EarningsPerShareDiluted_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zhI4Uv7ySBne" title="Diluted net income (loss) per ordinary share">0.07</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_903_eus-gaap--EarningsPerShareDiluted_c20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zXpRUpYBiXf3" title="Diluted net income (loss) per ordinary share">0.10</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_90B_eus-gaap--EarningsPerShareDiluted_c20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zNHsTp3j4Aqi" title="Diluted net income (loss) per ordinary share">0.10</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table> Concentration of credit risk Financial instruments that potentially subject the Company to concentration of credit risk consist of a cash account in a financial institution which, at times may exceed the Federal depository insurance coverage of $250,000. At June 30, 2024 and December 31, 2023, the Company had not experienced losses on this account and management believes the Company is not exposed to significant risks on such account. Fair value of financial instruments The fair value of the Company’s assets and liabilities, which qualify as financial instruments under FASB ASC 820, “Fair Value Measurements and Disclosures,” approximates the carrying amounts represented in the accompanying balance sheet, primarily due to their short-term nature. Recently issued accounting pronouncements Management does not believe that any recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company’s financial statements.

Basis of presentation The accompanying financial statements are presented in U.S. Dollars and conformity with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the rules and regulations of the SEC.

Emerging growth company The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved. Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used. INFINT ACQUISITION CORPORATION NOTES TO CONDENSED FINANCIAL STATEMENTS (Unaudited)

Use of estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates.

Cash and Cash Equivalents The Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. The Company had no cash equivalents as of June 30, 2024 and December 31, 2023.

<p id="xdx_84C_ecustom--CashAndMarketableSecuritiesHeldInTrustAccountPolicyTextBlock_znkl0DucaUrg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; background-color: white">Cash and Marketable Securities Held in Trust Account As of June 30, 2024 and December 31, 2023, the Company had $55,457,522 and $83,523,112 in cash and marketable securities held in the Trust Account.

55457522

83523112

Offering Costs associated with the Initial Public Offering The Company complies with the requirements of the Financial Accounting Standards Board (“FASB”) ASC 340-10-S99-1 and SEC Staff Accounting Bulletin (“SAB”) Topic 5A, “Expenses of Offering.” Offering costs of $582,540 consist principally of costs incurred in connection with formation of the Company and preparation for the Initial Public Offering and fair value of Representative Shares of $268,617. These costs, together with the underwriter discount of $8,499,949 and fair value of the representation shares were charged to additional paid-in capital upon completion of the Initial Public Offering.

582540

268617

8499949 Class A ordinary shares subject to possible redemption The Company accounts for its ordinary shares subject to possible redemption in accordance with the guidance enumerated in ASC 480, “Distinguishing Liabilities from Equity” (“ASC 480”). Ordinary shares subject to mandatory redemption are classified as a liability instrument and are measured at fair value. Conditionally redeemable ordinary shares (including ordinary shares that feature redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s control) are classified as temporary equity. At all other times, ordinary shares are classified as shareholders’ equity. The Company’s Class A ordinary shares feature certain redemption rights that are considered by the Company to be outside of the Company’s control and subject to the occurrence of uncertain future events. Accordingly, at June 30, 2024, the Class A ordinary shares subject to possible redemption in the amount of $55,457,522 are presented as temporary equity, outside of the shareholders’ equity section of the Company’s balance sheet. The Company’s redeemable ordinary shares is subject to SEC and its staff’s guidance on redeemable equity instruments, which has been codified in ASC 480-10-S99. If it is probable that the equity instrument will become redeemable, the Company has the option to either accrete changes in the redemption value over the period from the date of issuance (or from the date that it becomes probable that the instrument will become redeemable, if later) to the earliest redemption date of the instrument or to recognize changes in the redemption value immediately as they occur and adjust the carrying amount of the instrument to equal the redemption value at the end of each reporting period. The Company has elected to value immediately as they occur. The accretion or remeasurement is treated as a deemed dividend (i.e., a reduction to retained earnings, or in absence of retained earnings, additional paid-in capital). INFINT ACQUISITION CORPORATION NOTES TO CONDENSED FINANCIAL STATEMENTS (Unaudited) The amounts of Class A ordinary shares reflected on the balance sheets are reconciled in the following table: SCHEDULE OF RECONCILIATION OF ORDINARY SHARE SUBJECT TO POSSIBLE REDEMPTION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; font-weight: bold; text-align: left">Class A ordinary shares subject to possible redemption at January 1, 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--TemporaryEquityCarryingAmountAttributableToParent_iS_pp0p0_c20230101__20231231_zI89O0q2wgXj" style="width: 16%; text-align: right" title="Class A ordinary shares subject to possible redemption balance">208,932,880</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accretion of carrying value to initial redemption value</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--TemporaryEquityAccretionToRedemptionValue_pp0p0_c20230101__20231231_zumA28yv2lCk" style="text-align: right" title="Class A ordinary shares subject to possible redemption balance">7,715,207</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Redemption of Class A ordinary shares</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_98E_eus-gaap--PaymentsForRepurchaseOfCommonStock_iN_pp0p0_di_c20230101__20231231_zJ86ST7j4n7h" style="border-bottom: Black 1.5pt solid; text-align: right" title="Class A ordinary shares subject to possible redemption balance">(133,124,975</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Class A ordinary shares subject to possible redemption at December 31, 2023</td><td> </td> <td style="text-align: left">$</td><td id="xdx_982_eus-gaap--TemporaryEquityCarryingAmountAttributableToParent_iS_pp0p0_c20240101__20240630_zNzA6ckZlA9j" style="text-align: right" title="Class A ordinary shares subject to possible redemption balance">83,523,112</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accretion of carrying value to initial redemption value</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--TemporaryEquityAccretionToRedemptionValue_pp0p0_c20240101__20240630_zEjInOP65Gxa" style="text-align: right" title="Class A ordinary shares subject to possible redemption balance">2,220,225</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Redemption of Class A ordinary shares</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_98A_eus-gaap--PaymentsForRepurchaseOfCommonStock_iN_pp0p0_di_c20240101__20240630_zd3qAZjUBkMh" style="border-bottom: Black 1.5pt solid; text-align: right" title="Class A ordinary shares subject to possible redemption balance">(30,285,815</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Class A ordinary shares subject to possible redemption at June 30, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_987_eus-gaap--TemporaryEquityCarryingAmountAttributableToParent_iE_pp0p0_c20240101__20240630_zIgWLFNyQ8bh" style="border-bottom: Black 2.5pt double; text-align: right" title="Class A ordinary shares subject to possible redemption balance">55,457,522</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

55457522

The amounts of Class A ordinary shares reflected on the balance sheets are reconciled in the following table: SCHEDULE OF RECONCILIATION OF ORDINARY SHARE SUBJECT TO POSSIBLE REDEMPTION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; font-weight: bold; text-align: left">Class A ordinary shares subject to possible redemption at January 1, 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--TemporaryEquityCarryingAmountAttributableToParent_iS_pp0p0_c20230101__20231231_zI89O0q2wgXj" style="width: 16%; text-align: right" title="Class A ordinary shares subject to possible redemption balance">208,932,880</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accretion of carrying value to initial redemption value</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--TemporaryEquityAccretionToRedemptionValue_pp0p0_c20230101__20231231_zumA28yv2lCk" style="text-align: right" title="Class A ordinary shares subject to possible redemption balance">7,715,207</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Redemption of Class A ordinary shares</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_98E_eus-gaap--PaymentsForRepurchaseOfCommonStock_iN_pp0p0_di_c20230101__20231231_zJ86ST7j4n7h" style="border-bottom: Black 1.5pt solid; text-align: right" title="Class A ordinary shares subject to possible redemption balance">(133,124,975</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Class A ordinary shares subject to possible redemption at December 31, 2023</td><td> </td> <td style="text-align: left">$</td><td id="xdx_982_eus-gaap--TemporaryEquityCarryingAmountAttributableToParent_iS_pp0p0_c20240101__20240630_zNzA6ckZlA9j" style="text-align: right" title="Class A ordinary shares subject to possible redemption balance">83,523,112</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accretion of carrying value to initial redemption value</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--TemporaryEquityAccretionToRedemptionValue_pp0p0_c20240101__20240630_zEjInOP65Gxa" style="text-align: right" title="Class A ordinary shares subject to possible redemption balance">2,220,225</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Redemption of Class A ordinary shares</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_98A_eus-gaap--PaymentsForRepurchaseOfCommonStock_iN_pp0p0_di_c20240101__20240630_zd3qAZjUBkMh" style="border-bottom: Black 1.5pt solid; text-align: right" title="Class A ordinary shares subject to possible redemption balance">(30,285,815</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Class A ordinary shares subject to possible redemption at June 30, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_987_eus-gaap--TemporaryEquityCarryingAmountAttributableToParent_iE_pp0p0_c20240101__20240630_zIgWLFNyQ8bh" style="border-bottom: Black 2.5pt double; text-align: right" title="Class A ordinary shares subject to possible redemption balance">55,457,522</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

208932880

7715207

133124975

83523112

2220225

30285815

55457522

Warrants The Company accounts for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in ASC 480 and ASC 815, “Derivatives and Hedging” (“ASC 815”). The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the warrants meet all of the requirements for equity classification under ASC 815, including whether the warrants are indexed to the Company’s own Common Stock, among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the time of warrant issuance and as of each subsequent reporting period end date while the warrants are outstanding. All of the Company’s warrants have met the criteria for equity treatment.

Income taxes The Company complies with the accounting and reporting requirements of ASC 740, “Income Taxes” (“ASC 740”), which requires an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed for differences between the financial statement and tax bases of assets and liabilities that will result in future taxable or deductible amounts, based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. ASC 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. The Company’s management determined that the Cayman Islands is the Company’s only major tax jurisdiction. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. There were no unrecognized tax benefits and no amounts accrued for interest and penalties as of June 30, 2024 and December 31, 2023, and for the three months ended June 30, 2023. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. There is currently no taxation imposed on income by the Government of the Cayman Islands. In accordance with Cayman income tax regulations, income taxes are not levied on the Company. Consequently, income taxes are not reflected in the Company’s financial statements. The Company’s management does not expect that the total amount of unrecognized tax benefits will materially change over the next twelve months. INFINT ACQUISITION CORPORATION NOTES TO CONDENSED FINANCIAL STATEMENTS (Unaudited)

Net income per ordinary share The Company complies with accounting and disclosure requirements of ASC 260, “Earnings Per Share.” The Company applies the two-class method in calculating earnings per share. Earnings and losses are shared pro rata between the two classes of shares. Net income per share is computed by dividing net income by the weighted average number of ordinary share outstanding during the period, excluding ordinary share subject to forfeiture. At June 30, 2024, the Company did not have any dilutive securities and other contracts that could, potentially, be exercised or converted into ordinary share and then share in the earnings of the Company. As a result, diluted income per share is the same as basic income per share for the periods presented. The following table reflects the calculation of basic and diluted net income per ordinary share (in dollars, except per share amounts): SCHEDULE OF BASIS AND DILUTED NET LOSS PER ORDINARY SHARES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_499_20240401__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zYNIkLDTBIC2" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_496_20240401__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_z23gOaFAi2j8" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_497_20230401__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zmvmvIyvjfh5" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_492_20230401__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zglwofJExQQl" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="14" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">For the three months ended June 30</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Class A</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Class B</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Class A</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Class B</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-style: italic; text-align: left">Basic and diluted net income per ordinary share</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Numerator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--ProfitLoss_iN_pp0p0_di_zfKxHQxAan02" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: left; padding-left: 0.5pt">Allocation of net income</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">78,092</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">95,958</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">448,793</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">273,136</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0.5pt">Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; padding-left: 0.5pt">Basic and diluted weighted average common shares</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span id="xdx_90C_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20240401__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zyeJ995QkQyh" title="Basic weighted average common shares"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_90A_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20240401__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zVncqlgHCoG1" title="Diluted weighted average common shares">4,747,021</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span id="xdx_90C_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20240401__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zSJv93DNVcjj" title="Basic weighted average common shares"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_907_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20240401__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_z5d9P8TVXA4d" title="Diluted weighted average common shares">5,833,083</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span id="xdx_909_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20230401__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zduhMf4rdRv3" title="Basic weighted average common shares"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_90A_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20230401__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zDPKPpEYi8d5" title="Diluted weighted average common shares">9,584,428</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span id="xdx_90F_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20230401__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zBTGVkAExvm1" title="Basic weighted average common shares"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_90E_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zW6L92X9F6V3" title="Diluted weighted average common shares">5,833,083</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 0.5pt">Basic and diluted net income per ordinary share</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_904_eus-gaap--EarningsPerShareDiluted_c20240401__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zOYa7RDKEkD1" title="Diluted net income (loss) per ordinary share">0.02</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_904_eus-gaap--EarningsPerShareDiluted_c20240401__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zkdRYWINBVJc" title="Diluted net income (loss) per ordinary share">0.02</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_904_eus-gaap--EarningsPerShareDiluted_c20230401__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z3gyVn4WOFNk" title="Diluted net income (loss) per ordinary share">0.05</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_906_eus-gaap--EarningsPerShareDiluted_c20230401__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zwHYnkrzz3Gh" title="Diluted net income (loss) per ordinary share">0.05</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_491_20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zPbTibS0R4r2" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_492_20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zXxvxZAEJgsb" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49A_20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zEHQwrzMI9W6" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_498_20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zkj0S8YW9B0h" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="14" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">For the six months ended June 30</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Class A</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Class B</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Class A</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Class B</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-style: italic; text-align: left">Basic and diluted net income per ordinary share</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Numerator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--ProfitLoss_iN_pp0p0_di_zyfcFQzXLDYh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: left; padding-left: 0.5pt">Allocation of net income</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">368,040</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">396,113</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">1,159,361</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">560,806</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0.5pt">Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; padding-left: 0.5pt">Basic and diluted weighted average common shares</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span id="xdx_905_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_znartJVyM1Xk" title="Basic weighted average common shares"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_903_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zVOUMmqQPuve" title="Diluted weighted average common shares">5,419,684</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span id="xdx_907_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_z4HZF898XNNe" title="Basic weighted average common shares"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_90D_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zKaFYwHKaXd3" title="Diluted weighted average common shares">5,833,083</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span id="xdx_906_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zVJCJBSIGSNk" title="Basic weighted average common shares"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_90B_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zT8tAA2gCoY" title="Diluted weighted average common shares">12,058,817</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span id="xdx_903_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_z9GotYJ3WBr6" title="Basic weighted average common shares"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_90C_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zFbCk4L0mGT4" title="Diluted weighted average common shares">5,833,083</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 0.5pt">Basic and diluted net income per ordinary share</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_90B_eus-gaap--EarningsPerShareDiluted_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zgOwIeSEJ1Q4" title="Diluted net income (loss) per ordinary share">0.07</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_90D_eus-gaap--EarningsPerShareDiluted_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zhI4Uv7ySBne" title="Diluted net income (loss) per ordinary share">0.07</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_903_eus-gaap--EarningsPerShareDiluted_c20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zXpRUpYBiXf3" title="Diluted net income (loss) per ordinary share">0.10</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_90B_eus-gaap--EarningsPerShareDiluted_c20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zNHsTp3j4Aqi" title="Diluted net income (loss) per ordinary share">0.10</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table>

The following table reflects the calculation of basic and diluted net income per ordinary share (in dollars, except per share amounts): SCHEDULE OF BASIS AND DILUTED NET LOSS PER ORDINARY SHARES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_499_20240401__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zYNIkLDTBIC2" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_496_20240401__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_z23gOaFAi2j8" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_497_20230401__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zmvmvIyvjfh5" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_492_20230401__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zglwofJExQQl" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="14" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">For the three months ended June 30</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Class A</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Class B</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Class A</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Class B</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-style: italic; text-align: left">Basic and diluted net income per ordinary share</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Numerator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--ProfitLoss_iN_pp0p0_di_zfKxHQxAan02" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: left; padding-left: 0.5pt">Allocation of net income</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">78,092</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">95,958</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">448,793</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">273,136</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0.5pt">Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; padding-left: 0.5pt">Basic and diluted weighted average common shares</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span id="xdx_90C_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20240401__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zyeJ995QkQyh" title="Basic weighted average common shares"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_90A_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20240401__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zVncqlgHCoG1" title="Diluted weighted average common shares">4,747,021</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span id="xdx_90C_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20240401__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zSJv93DNVcjj" title="Basic weighted average common shares"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_907_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20240401__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_z5d9P8TVXA4d" title="Diluted weighted average common shares">5,833,083</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span id="xdx_909_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20230401__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zduhMf4rdRv3" title="Basic weighted average common shares"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_90A_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20230401__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zDPKPpEYi8d5" title="Diluted weighted average common shares">9,584,428</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span id="xdx_90F_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20230401__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zBTGVkAExvm1" title="Basic weighted average common shares"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_90E_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zW6L92X9F6V3" title="Diluted weighted average common shares">5,833,083</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 0.5pt">Basic and diluted net income per ordinary share</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_904_eus-gaap--EarningsPerShareDiluted_c20240401__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zOYa7RDKEkD1" title="Diluted net income (loss) per ordinary share">0.02</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_904_eus-gaap--EarningsPerShareDiluted_c20240401__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zkdRYWINBVJc" title="Diluted net income (loss) per ordinary share">0.02</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_904_eus-gaap--EarningsPerShareDiluted_c20230401__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z3gyVn4WOFNk" title="Diluted net income (loss) per ordinary share">0.05</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_906_eus-gaap--EarningsPerShareDiluted_c20230401__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zwHYnkrzz3Gh" title="Diluted net income (loss) per ordinary share">0.05</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_491_20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zPbTibS0R4r2" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_492_20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zXxvxZAEJgsb" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49A_20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zEHQwrzMI9W6" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_498_20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zkj0S8YW9B0h" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="14" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">For the six months ended June 30</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Class A</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Class B</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Class A</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Class B</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-style: italic; text-align: left">Basic and diluted net income per ordinary share</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Numerator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--ProfitLoss_iN_pp0p0_di_zyfcFQzXLDYh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: left; padding-left: 0.5pt">Allocation of net income</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">368,040</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">396,113</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">1,159,361</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">560,806</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0.5pt">Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; padding-left: 0.5pt">Basic and diluted weighted average common shares</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span id="xdx_905_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_znartJVyM1Xk" title="Basic weighted average common shares"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_903_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zVOUMmqQPuve" title="Diluted weighted average common shares">5,419,684</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span id="xdx_907_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_z4HZF898XNNe" title="Basic weighted average common shares"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_90D_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zKaFYwHKaXd3" title="Diluted weighted average common shares">5,833,083</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span id="xdx_906_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zVJCJBSIGSNk" title="Basic weighted average common shares"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_90B_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zT8tAA2gCoY" title="Diluted weighted average common shares">12,058,817</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span id="xdx_903_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_z9GotYJ3WBr6" title="Basic weighted average common shares"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_90C_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zFbCk4L0mGT4" title="Diluted weighted average common shares">5,833,083</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 0.5pt">Basic and diluted net income per ordinary share</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_90B_eus-gaap--EarningsPerShareDiluted_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zgOwIeSEJ1Q4" title="Diluted net income (loss) per ordinary share">0.07</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_90D_eus-gaap--EarningsPerShareDiluted_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zhI4Uv7ySBne" title="Diluted net income (loss) per ordinary share">0.07</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_903_eus-gaap--EarningsPerShareDiluted_c20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zXpRUpYBiXf3" title="Diluted net income (loss) per ordinary share">0.10</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBU0lTIEFORCBESUxVVEVEIE5FVCBMT1NTIFBFUiBPUkRJTkFSWSBTSEFSRVMgKERldGFpbHMpAA__" id="xdx_90B_eus-gaap--EarningsPerShareDiluted_c20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zNHsTp3j4Aqi" title="Diluted net income (loss) per ordinary share">0.10</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table>

-78092

-95958

-448793

-273136

4747021

5833083

9584428

5833083

0.02

0.05

-368040

-396113

-1159361

-560806

5419684

5833083

12058817

5833083

0.07

0.10

Concentration of credit risk Financial instruments that potentially subject the Company to concentration of credit risk consist of a cash account in a financial institution which, at times may exceed the Federal depository insurance coverage of $250,000. At June 30, 2024 and December 31, 2023, the Company had not experienced losses on this account and management believes the Company is not exposed to significant risks on such account.

250000

Fair value of financial instruments The fair value of the Company’s assets and liabilities, which qualify as financial instruments under FASB ASC 820, “Fair Value Measurements and Disclosures,” approximates the carrying amounts represented in the accompanying balance sheet, primarily due to their short-term nature.

Recently issued accounting pronouncements Management does not believe that any recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company’s financial statements.

NOTE 3. INITIAL PUBLIC OFFERING On November 23, 2021, the Company consummated its Initial Public Offering of <span id="xdx_907_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20211123__20211123__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z6wR4QOl3Tw8" title="Number of shares issued">19,999,880 Units at $<span id="xdx_90B_eus-gaap--SaleOfStockPricePerShare_iI_c20211123__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zL0W402f7Bga" title="Sale of stock price per share">10.00 per Unit, generating gross proceeds of $<span id="xdx_900_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_pp0p0_c20211123__20211123__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zLkf2XjoxrDa" title="Proceeds from initial public offering">199,998,800, and incurring offering costs of approximately $<span id="xdx_90E_eus-gaap--PaymentsOfStockIssuanceCosts_pp0p0_c20211123__20211123__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z9Uweguk4dH1" title="Offering costs">9,351,106 which $<span id="xdx_907_ecustom--UnderwritingFees_pp0p0_c20211123__20211123__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z4v8r9Q8W4Dc" title="Underwriting fees">2,499,985 was for underwriting fees, $<span id="xdx_902_ecustom--DeferredUnderwritingFeePayable_pp0p0_c20211123__20211123__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zppO7m4oasi6" title="Deferred underwriting commissions">5,999,964 was for deferred underwriting commissions, $<span id="xdx_90D_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_pp0p0_c20211123__20211123__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z4MyIGsdaKak" title="Sale of stock consideration on transaction, fair value">268,617 for the fair value of the Representative Shares and $<span id="xdx_90E_ecustom--OtherOfferingCosts_pp0p0_c20211123__20211123__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zwCSsrl61JT9" title="Other offering cost">582,540 was for other offering costs. Each Unit consists of one ordinary share and one-half of one redeemable warrant (“Public Warrant”). Each whole Public Warrant entitles the holder to purchase one Class A ordinary share at an exercise price of $11.50 per whole share (see Note 7).

19999880

10.00

199998800

9351106

2499985 5999964

268617

582540

11.50

NOTE 4. PRIVATE PLACEMENT Simultaneously with the closing of the Offering, the Company consummated the Private Placement of an aggregate of 7,796,842 Private Placement Warrants to the Sponsor, at a price of $<span id="xdx_903_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20211123__us-gaap--SubsidiarySaleOfStockAxis__custom--PrivatePlacementWarrantsMember_zUXPl6swr604" title="Warrants price per share">1.00 per Private Placement Warrant, generating total gross proceeds of $<span id="xdx_90D_eus-gaap--ProceedsFromIssuanceOfWarrants_pp0p0_c20211123__20211123__us-gaap--SubsidiarySaleOfStockAxis__custom--PrivatePlacementWarrantsMember_zONxlxGm2h9i" title="Proceeds from warrants gross">7,796,842. The proceeds from the sale of the Private Placement Warrants have been added to the net proceeds from the Initial Public Offering held in the Trust Account. The Private Placement Warrants are identical to the warrants sold in the Initial Public Offering, except as described in Note 7. If the Company does not complete a Business Combination within the Combination Period, the Private Placement Warrants will expire worthless. INFINT ACQUISITION CORPORATION NOTES TO CONDENSED FINANCIAL STATEMENTS (Unaudited)

7796842

1.00

7796842

NOTE 5. RELATED PARTY TRANSACTIONS Founder Shares At June 30, 2024 and December 31, 2023, the Company issued an aggregate of 5,833,083 Class B ordinary shares to the Sponsor for an aggregate purchase price of $<span id="xdx_900_eus-gaap--CommonStockValue_iI_c20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__srt--TitleOfIndividualAxis__custom--SponsorMember_zvj5Kwx54oXg" title="Common stock value issued"><span id="xdx_90E_eus-gaap--CommonStockValue_iI_c20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__srt--TitleOfIndividualAxis__custom--SponsorMember_zUaPCwyDZoOg" title="Common stock value issued">25,100 in cash. Our Sponsor transferred <span id="xdx_90D_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__srt--TitleOfIndividualAxis__custom--EFHuttonMember_z68oWPO0XLRf" title="Number of shares issued"><span id="xdx_90F_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__srt--TitleOfIndividualAxis__custom--EFHuttonMember_zZMUvDqmqBX5" title="Number of shares issued">69,999 Class B ordinary shares to EF Hutton and <span id="xdx_902_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__srt--TitleOfIndividualAxis__custom--JonesTradingMember_zuxO3pi5a2ze" title="Number of shares issued"><span id="xdx_900_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__srt--TitleOfIndividualAxis__custom--JonesTradingMember_zQOoPbzCraL2" title="Number of shares issued">30,000 Class B ordinary shares to JonesTrading as Representative Shares (the Representative Shares are deemed to be underwriter’s compensation by the Financial Industry Regulatory Authority (“FINRA”) pursuant to Rule 5110 of the FINRA Manual). The initial shareholders collectively own <span id="xdx_902_ecustom--PercentageOfIssuedAndOutstandingSharesAfterInitialPublicOffering_iI_pid_dp_uPure_c20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zEPY88UAeA0a" title="Percentage of initial public offering"><span id="xdx_907_ecustom--PercentageOfIssuedAndOutstandingSharesAfterInitialPublicOffering_iI_pid_dp_uPure_c20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zK5ocbR0jRr8" title="Percentage of initial public offering">22.58% of the Company’s issued and outstanding shares after the Initial Public Offering (assuming the initial shareholders do not purchase any Public Shares in the Initial Public Offering and excluding the Placement Units and underlying securities). The initial shareholders have agreed not to transfer, assign or sell any of the Class B ordinary share (except to certain permitted transferees) or any of the Class B ordinary shares (or the Class A ordinary shares into which they be converted) until, the earlier of (i) nine months after the date of the consummation of a Business Combination, or (ii) the date on which the closing price of the Company’s Class A ordinary shares equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations and recapitalizations) for any <span id="xdx_906_ecustom--OrdinarySharesTradingDays_uInteger_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--TitleOfIndividualAxis__custom--AffiliateSponsorMember_zJvpOnI3Wjwc" title="Ordinary shares trading days">20-trading days within any 30-trading day period commencing after a Business Combination, or earlier, if, subsequent to a Business Combination, the Company consummates a subsequent liquidation, merger, stock exchange or other similar transaction which results in all of the Company’s shareholders having the right to exchange their ordinary share for cash, securities or other property. IPO Promissory Note – Related Party On April 20, 2021, the Sponsor issued an unsecured promissory note (the “IPO Promissory Note”) to the Company, pursuant to which the Company may borrow up to an aggregate principal amount of up to $<span id="xdx_908_eus-gaap--DebtInstrumentFaceAmount_iI_c20210420__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember__us-gaap--DebtInstrumentAxis__custom--PromissoryNoteMember_zE4hzLFBOCDg" title="Debt principal amount">400,000, to be used for payment of costs related to the Initial Public Offering. The note is interest bearing (<span id="xdx_90C_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20210420__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember__us-gaap--DebtInstrumentAxis__custom--PromissoryNoteMember_zfJvIcfd66a" title="Interest rate">0.01% annual rate) and payable on the earlier of (i) December 31, 2021 or (ii) the consummation of the Initial Public Offering. These amounts will be repaid upon completion of the Initial Public Offering out of the $<span id="xdx_901_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_pp0p0_c20210419__20210420__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--DebtInstrumentAxis__custom--PromissoryNoteMember_zjSbGYkccSib" title="Proceeds from offering">696,875 of offering proceeds that has been allocated for the payment of offering expenses. The Company borrowed $<span id="xdx_90D_eus-gaap--ProceedsFromRelatedPartyDebt_pp0p0_c20210419__20210420__us-gaap--DebtInstrumentAxis__custom--PromissoryNoteMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zWxteDnQMN8c" title="Proceeds from note payable related party">338,038 (including interest) under the Promissory Note, and fully repaid the IPO Promissory Note in full on December 10, 2021. As of June 30, 2024 and December 31, 2023, there was <span id="xdx_90F_eus-gaap--OtherLiabilities_iI_do_c20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zWbtM0Qxgov9" title="Promissory note related party"><span id="xdx_90E_eus-gaap--OtherLiabilities_iI_do_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zEkgp3bXlw3c" title="Promissory note related party">no outstanding balance under the IPO Promissory Note. Administrative Services Arrangement The Company’s Sponsor has agreed, commencing from the date that the Company’s securities are first listed on NYSE through the earlier of the Company’s consummation of a Business Combination and its liquidation, to make available to the Company certain general and administrative services, including office space, utilities and administrative services, as the Company may require from time to time. The Company has agreed to pay the Sponsor $10,000 per month for these services. For the three months ended June 30, 2024, the Company incurred $36,000 in expenses for these services. For the six months ended June 30, 2024, the Company incurred $72,000 in expenses for these services. For the three months ended June 30, 2023, the Company incurred $30,000 in expenses for these services. In addition, the Company reimbursed such affiliate of the Sponsor for certain costs incurred on the Company’s behalf in the amount of $<span id="xdx_901_eus-gaap--ReimbursementFromLimitedPartnershipInvestment_c20240101__20240630__us-gaap--TypeOfArrangementAxis__custom--AdministrativeServiceAgreementMember_zfJV2UrFQ4hk" title="Reimbursed cost">6,000. For the six months ended June 30, 2023, the Company incurred $60,000 in expenses for these services. In addition, the Company reimbursed such affiliate of the Sponsor for certain costs incurred on the Company’s behalf in the amount of $<span id="xdx_906_eus-gaap--ReimbursementFromLimitedPartnershipInvestment_pp0p0_c20230101__20230630__us-gaap--TypeOfArrangementAxis__custom--AdministrativeServiceAgreementMember_zyagtgRvKqWl" title="Reimbursed cost">28,781. Related Party Loans and Costs In order to finance transaction costs in connection with a Business Combination, the Company’s Sponsor or an affiliate of the Sponsor, or the Company’s officers and directors may, but are not obligated to, loan the Company funds as may be required (“Working Capital Loans”). Such Working Capital Loans would be evidenced by promissory notes. The notes would either be repaid upon consummation of a Business Combination, without interest, or, at the lender’s discretion, up to $1,500,000 of notes may be converted upon consummation of a Business Combination into additional Private Placement Warrants at a price of $<span id="xdx_907_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20240630__srt--TitleOfIndividualAxis__custom--AffiliateSponsorMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zwydBTieOK6j" title="Warrants exercise per share">1.00 per warrant. In the event that a Business Combination does not close, the Company may use a portion of proceeds held outside the Trust Account to repay the Working Capital Loans, but no proceeds held in the Trust Account would be used to repay the Working Capital Loans. On May 1, 2023, the Company issued an unsecured promissory note (the “Note”) in the principal amount of up to $150,000 to the Sponsor, which may be drawn down from time to time prior to the Maturity Date (defined below) upon request by the Company. The Note does not bear interest and the principal balance will be payable on the date on which the Company consummates its initial business combination (such date, the “Maturity Date”). In the event the Company consummates its initial business combination, the Sponsor has the option on the Maturity Date to convert the principal outstanding under the Note into that number of private placement warrants (“Working Capital Warrants”) equal to the portion of the principal amount of the Note being converted divided by $1.00, rounded up to the nearest whole number. The terms of the Working Capital Warrants, if any, would be identical to the terms of the Private Placement Warrants, including the transfer restrictions applicable thereto. The Note was subject to customary events of default, the occurrence of certain of which automatically triggers the unpaid principal balance of the Note and all other sums payable with regard to the Note becoming immediately due and payable. On September 13, 2023, the Company issued an unsecured promissory note (the “Amended Note”) in the principal amount of up to $400,000 to the Sponsor, which may be drawn down from time to time prior to the Maturity Date upon request by the Company. The Amended Note amended, replaced and superseded in its entirety the Note, and any unpaid principal balance of the indebtedness evidenced by the Note has been merged into and evidenced by the Amended Note. The Amended Note does not bear interest and the principal balance will be payable on the Maturity Date. In the event the Company consummates its initial business combination, the Sponsor has the option on the Maturity Date to convert the principal outstanding under the Amended Note into that number of Working Capital Warrants equal to the portion of the principal amount of the Amended Note being converted divided by $1.00, rounded up to the nearest whole number. The terms of the Working Capital Warrants, if any, would be identical to the terms of the Private Placement Warrants, including the transfer restrictions applicable thereto. The Amended Note is subject to customary events of default, the occurrence of certain of which automatically triggers the unpaid principal balance of the Amended Note and all other sums payable with regard to the Amended Note becoming immediately due and payable. As of June 30, 2024 and December 31, 2023, the Company has borrowed $325,000 from the Working Capital Loans, respectively. On March 6, 2024, the Company issued an unsecured promissory note (the “Seamless Note”) in the principal amount of up to $500,000 to Seamless, which may be drawn down from time to time prior to the Maturity Date upon request by the Company. The Seamless Note does not bear interest and the principal balance will be payable on the Maturity Date. The Seamless Note is subject to customary events of default, the occurrence of certain of which automatically triggers the unpaid principal balance of the Second Note and all other sums payable with regard to the Seamless Note becoming immediately due and payable. As of June 30, 2024 and December 31, 2023, the Company has borrowed $316,297 and nil from the Seamless Note, respectively. INFINT ACQUISITION CORPORATION NOTES TO CONDENSED FINANCIAL STATEMENTS (Unaudited) Representative Shares On November 23, 2021, the Company assigned 99,999 shares of Class B ordinary share to the representative for nominal consideration (the “Representative Shares”). The Company estimated the fair value of Representative Shares to be $<span id="xdx_90E_eus-gaap--StockIssuedDuringPeriodValueNewIssues_pp0p0_c20211123__20211123__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zLLPtI73tN0j" title="Share issued during the period, value">268,617, which is 2.87% of total offering cost of $9,351,106. The Company recognized the estimated fair value as part of offering costs. The holders of the Representative Shares have agreed not to transfer, assign or sell any such shares until the completion of a Business Combination. In addition, the holders have agreed (i) to waive their redemption rights with respect to such shares in connection with the completion of a Business Combination and (ii) to waive their rights to liquidating distributions from the Trust Account with respect to such shares if the Company fails to complete a Business Combination within the Combination Period. The Representative Shares have been deemed compensation by FINRA and are therefore subject to a lock-up for a period of 180 days immediately following the date of commencement of sales of the Initial Public Offering pursuant to FINRA Rule 5110(e)(1s). Pursuant to FINRA Rule 5110(e)(1), these securities will not be sold, transferred, assigned, pledged, or hypothecated, or be the subject of any hedging, short sale, derivative, put, or call transaction that would result in the effective economic disposition of the securities for a period of 180 days beginning on the date of commencement of sales of the Initial Public Offering, except as provided in FINRA Rule 5110(e)(2).

5833083

25100

69999

30000

0.2258 0.2258

12.00

400000

0.0001

696875

338038

10000

36000

72000

30000

6000

60000

28781

1500000

1.00

150000

1.00

400000

1.00

325000 325000

500000

316297

99999

268617

0.0287

9351106

NOTE 6. COMMITMENTS AND CONTINGENCIES Registration Rights The holders of the insider shares, as well as the holders of the Private Placement Warrants (and underlying securities) and any securities issued in payment of Working Capital Loans made to the Company, will be entitled to registration rights pursuant to an agreement to be signed prior to or on the effective date of Initial Public Offering. The holders of a majority of these securities are entitled to make up to three demands that the Company register such securities. Notwithstanding anything to the contrary, the underwriter (and/or its designees) may only make a demand registration (i) on one occasion and (ii) during the five year period beginning on the effective date of the Initial Public Offering. The holders of the majority of the insider shares can elect to exercise these registration rights at any time commencing three months prior to the date on which these ordinary shares are to be released from escrow. The holders of a majority of the Private Placement Warrants (and underlying securities) and securities issued in payment of working capital loans (or underlying securities) can elect to exercise these registration rights at any time after the Company consummates a Business Combination. In addition, the holders have certain “piggy-back” registration rights with respect to registration statements filed subsequent to the consummation of a Business Combination. Notwithstanding anything to the contrary, the underwriter (and/or its designees) may participate in a “piggy-back” registration only during the seven-year period beginning on the effective date of the Initial Public Offering. The Company will bear the expenses incurred in connection with the filing of any such registration statements. Notwithstanding anything to the contrary, under FINRA Rule 5110, the underwriter and/or its designees may only make a demand registration (i) on one occasion and (ii) during the five-year period beginning on the effective date of the registration statement relating to the Initial Public Offering, and the underwriter and/or its designees may participate in a “piggy-back” registration only during the seven-year period beginning on the effective date of the registration statement relating to the Initial Public Offering. Underwriting Agreement The underwriter purchased the 2,608,680 units to cover over-allotments at the Initial Public Offering price. The underwriter received a cash underwriting discount of (i) one and one-quarter percent (<span id="xdx_905_ecustom--PercentageOfUnderwritingDiscount_pid_dp_uPure_c20211123__20211123__us-gaap--TypeOfArrangementAxis__custom--UnderwritingAgreementMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zFvgsLrisudj" title="Percentage of underwriting discount">1.25%) of the gross proceeds of the Initial Public Offering, or $<span id="xdx_90B_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_pp0p0_c20211123__20211123__us-gaap--TypeOfArrangementAxis__custom--UnderwritingAgreementMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zV7MkgYN1e04" title="Proceeds from issuance initial public offering gross">2,499,985, and (ii) one half of a percent (<span id="xdx_901_ecustom--PercentageOfUnderwritingDiscount_pid_dp_uPure_c20211123__20211123__us-gaap--TypeOfArrangementAxis__custom--UnderwritingAgreementMember_zY4efgvySLP8" title="Percentage of underwriting discount">0.5%) in the form of Representative Shares. In addition, the underwriter is entitled to a deferred fee of three percent (<span id="xdx_906_ecustom--PercentageOfUnderwritingDeferredFee_pid_dp_uPure_c20211123__20211123__us-gaap--TypeOfArrangementAxis__custom--UnderwritingAgreementMember_zYvbaJHryvuk" title="Percent of underwriting deferred fee">3.00%) of the gross proceeds of the Initial Public Offering, or $<span id="xdx_902_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_c20211123__20211123__us-gaap--TypeOfArrangementAxis__custom--UnderwritersAgreementMember__us-gaap--IncomeStatementLocationAxis__custom--DeferredFeeMember_zIz5Jrupf4lh" title="Proceeds from issuance initial public offering gross">5,999,964, upon closing of the Business Combination, pursuant to the underwriting agreement dated November 18, 2021 (the “Underwriting Agreement”). The deferred fee will be paid in cash upon the closing of a Business Combination from the amounts held in the Trust Account, subject to the terms of the Underwriting Agreement. Shareholder Support Agreement Concurrently with the execution of the Business Combination Agreement, the Company, Seamless Shareholders and Seamless entered into the Shareholder Support Agreement, pursuant to which, among other things, such Seamless Shareholders party thereto agreed to (a) vote their Seamless shares in support and favor of the Business Combination Agreement, the Proposed Transactions and all other matters or resolutions that could reasonably be expected to facilitate the Proposed Transactions, (b) waive any dissenters’ rights in connection with the Proposed Transactions, (c) not transfer their respective Seamless shares and (d) terminate the Seamless’ shareholders’ agreement at or prior to Closing. INFINT ACQUISITION CORPORATION NOTES TO CONDENSED FINANCIAL STATEMENTS (Unaudited) Sponsor Support Agreement Concurrently with the execution of the Business Combination Agreement, the Sponsor, the Company and Seamless had entered into the Sponsor Support Agreement, pursuant to which, among other things, the Sponsor agreed to (a) vote at the INFINT Shareholder Meeting in favor of the Business Combination Agreement and the Proposed Transactions, (b) abstain from redeeming any Sponsor founder shares in connection with the Proposed Transactions, and (c) waive certain anti-dilution provisions contained in the Company’s Memorandum and Articles of Association. Registration Rights Agreement At the closing of the Business Combination, the Company and certain Seamless Shareholders and the Company’s shareholders party thereto (such shareholders, the “Holders”) will enter into the Registration Rights Agreement, pursuant to which, among other things, the Company will be obligated to file a registration statement to register the resale of certain New INFINT Ordinary Shares held by the Holders. The Registration Rights Agreement will also provide the Holders with “piggy-back” registration rights, subject to certain requirements and customary conditions. Lock-Up Agreement At the closing of the Business Combination, the Company will enter into individual Lock-Up Agreements with each of certain Seamless Shareholders (each, a “Locked-Up Shareholder”) pursuant to which, among other things, New INFINT Ordinary Shares held by each Locked-Up Shareholder will be locked-up for a period ending on the earlier of (A) six (6) months following the Closing and (B) the date after the Closing on which the Company consummates a liquidation, merger, capital stock exchange, reorganization, or other similar transaction with an unaffiliated third party that results in all of the Company’s shareholders having the right to exchange their shares for cash, securities, or other property. Right of First Refusal For a period beginning on the closing of the Initial Public Offering and ending 12 months from the closing of a Business Combination, the Company has granted EF Hutton a right of first refusal to act as lead-left book running manager and lead left manager for any and all future private or public equity, convertible and debt offerings during such period. In accordance with FINRA Rule 5110(g)(6)(A), such right of first refusal shall not have a duration of more than three years from the commencement of sales of the Initial Public Offering. Risks and Uncertainties Management is currently evaluating the impact of the COVID-19 pandemic on the industry and has concluded that while it is reasonably possible that the virus could have a negative effect on the Company’s financial position, results of its operations, close of the Initial Public Offering, and/or search for a target company, the specific impact is not readily determinable as of the date of these financial statements. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. INFINT ACQUISITION CORPORATION NOTES TO CONDENSED FINANCIAL STATEMENTS (Unaudited)

2608680

0.0125

2499985

0.005 0.0300

5999964

NOTE 7. SHAREHOLDERS’ DEFICIT Preferred Shares — The Company is authorized to issue 5,000,000 preferred shares with a par value of $0.0001 per share with such designation, rights and preferences as may be determined from time to time by the Company’s board of directors. At June 30, 2024 and December 31, 2023, there were no preferred shares issued or outstanding. Class A Ordinary share — The Company is authorized to issue 500,000,000 Class A ordinary shares with a par value of $0.0001 per share. Holders of the Company’s Class A ordinary shares are entitled to one vote for each share. At June 30, 2024 and December 31, 2023, there were no Class A ordinary shares issued and outstanding (excluding the <span id="xdx_908_eus-gaap--TemporaryEquitySharesAuthorized_iI_c20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zcjZ4rpUrvL7" title="Class A ordinary shares subject to possible redemption, shares">4,747,021 shares subject to redemption as of June 30, 2024 and <span id="xdx_909_eus-gaap--TemporaryEquitySharesAuthorized_iI_c20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zrKHy2QqqrPh" title="Class A ordinary shares subject to possible redemption, shares">7,408,425 shares subject to redemption as of December 31, 2023, respectively). Class B Ordinary share — The Company is authorized to issue 50,000,000 Class B ordinary shares with a par value of $0.0001 per share. Holders of the Company’s Class B ordinary shares are entitled to one vote for each share. At June 30, 2024 and December 31, 2023, there were 5,833,083 Class B ordinary shares issued and outstanding. The Sponsor transferred <span id="xdx_906_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__srt--TitleOfIndividualAxis__custom--EFHuttonMember_zeKYfpVCFBs9" title="Number of shares issued">69,999 Class B Ordinary shares to EF Hutton and <span id="xdx_90B_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__srt--TitleOfIndividualAxis__custom--JonesTradingMember_znwesCpXSt5f" title="Number of shares issued">30,000 Class B ordinary shares to JonesTrading as Representative Shares. Hence, as of June 30, 2024 and December 31, 2023, <span id="xdx_90A_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__srt--TitleOfIndividualAxis__custom--SponsorMember_zwQF8PFPzJob" title="Common Stock Held by Sponsor"><span id="xdx_90C_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__srt--TitleOfIndividualAxis__custom--SponsorMember_zpnXRtByuYr7" title="Common Stock Held by Sponsor">5,733,084 of Class B ordinary shares were held by the Sponsor and <span id="xdx_90A_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pp0p0_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__us-gaap--SubsidiarySaleOfStockAxis__custom--RepresentativeMember_zj407zX7fat4" title="Common stock held"><span id="xdx_90E_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pp0p0_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__us-gaap--SubsidiarySaleOfStockAxis__custom--RepresentativeMember_zrpfAoRs3tK1" title="Common stock held">99,999 of such shares were held by the representatives as Representative Shares. The initial shareholders own <span id="xdx_90E_ecustom--PercentageOfIssuedAndOutstandingSharesAfterInitialPublicOffering_iI_pid_dp_uPure_c20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zKdjg76axBl4" title="Percentage of initial public offering"><span id="xdx_904_ecustom--PercentageOfIssuedAndOutstandingSharesAfterInitialPublicOffering_iI_pid_dp_uPure_c20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_z97hkL38a7F6" title="Percentage of initial public offering">22.58% of the issued and outstanding shares after the Initial Public Offering, assuming the initial shareholders do not purchase any Public Shares in the Initial Public Offering. As of June 30, 2024, the initial shareholders own approximately <span id="xdx_904_ecustom--InitialShareholdersOwnOutstanding_iI_dp_c20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zMlfohJj1pjf" title="Initial shareholders own outstanding percentage">55.1% of the issued and outstanding shares. Class B ordinary share will automatically convert into Class A ordinary share at the time of the Company’s initial Business Combination on a one-for-one basis. Warrants —The Public Warrants will become exercisable on the later of 30 days after the consummation of a Business Combination and 12 months from the closing of the Initial Public Offering. The Public Warrants will expire five years from the consummation of a Business Combination or earlier upon redemption or liquidation. The Company will not be obligated to deliver any Class A ordinary share pursuant to the exercise of a Public Warrant and will have no obligation to settle such Public Warrant exercise unless a registration statement under the Securities Act covering the issuance of the Class A ordinary share issuable upon exercise of the Public Warrants is then effective and a prospectus relating thereto is current, subject to the Company satisfying its obligations with respect to registration or such issuance is deemed to be exempt under the Securities Act and the securities laws of the state of residence of the registered holder of the warrants. Once the warrants become exercisable, the Company may redeem the Public Warrants: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">in whole and not in part;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">at a price of $0.01 per warrant;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">at any time after the warrants become exercisable,</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">upon not less than 30 days’ prior written notice of redemption to each warrant holder;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">if, and only if, the reported last sale price of the Class A ordinary shares equals or exceeds $18.00 per share (as adjusted for stock splits, stock dividends, reorganizations, and recapitalizations) for any 20 trading days within a 30-trading day period commencing at any time after the warrants become exercisable and ending on the third business day prior to the notice of redemption to warrant holders; and</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">if, and only if, there is a current registration statement in effect with respect to the Class A ordinary shares underlying such warrants.</td></tr> </table> If the Company calls the Public Warrants for redemption, management will have the option to require all holders that wish to exercise the Public Warrants to do so on a “cashless basis,” as described in the warrant agreement. The exercise price and number of Class A ordinary share issuable upon exercise of the warrants may be adjusted in certain circumstances including in the event of a stock dividend, or recapitalization, reorganization, merger or consolidation. However, except as described below, the warrants will not be adjusted for issuance of Class A ordinary share at a price below its exercise price. Additionally, in no event will the Company be required to net cash settle the warrants. If the Company is unable to complete a Business Combination within the Combination Period and the Company liquidates the funds held in the Trust Account, holders of warrants will not receive any of such funds with respect to their warrants, nor will they receive any distribution from the Company’s assets held outside of the Trust Account with the respect to such warrants. Accordingly, the warrants may expire worthless. INFINT ACQUISITION CORPORATION NOTES TO CONDENSED FINANCIAL STATEMENTS (Unaudited) In addition, if (x) the Company issues additional Class A ordinary share or equity-linked securities in connection with the closing of a Business Combination at an issue price or effective issue price of less than $9.20 per share of Class A ordinary share (with such issue price or effective issue price to be determined in good faith by the Company’s board of directors, and, in the case of any such issuance to the Sponsor or its affiliates, without taking into account any Founder Shares held by the Sponsor or its affiliates, as applicable, prior to such issuance) (the “Newly Issued Price”), (y) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the funding of a Business Combination on the date of the completion of a Business Combination (net of redemptions), and (z) the volume weighted average trading price of the Company’s Class A ordinary share during the 20 trading day period starting on the trading day after the day on which the Company completes a Business Combination (such price, the “Market Value”) is below $9.20 per share, the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115% of the greater of the Market Value and the Newly Issued Price, and the $18.00 per share redemption trigger price will be adjusted (to the nearest cent) to be equal to 180% of the greater of the Market Value and the Newly Issued Price. The Private Placement Warrants, as well as up to <span id="xdx_904_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pp0p0_c20240630__us-gaap--SubsidiarySaleOfStockAxis__custom--PrivatePlacementWarrantsMember_z6bki9LS1759" title="Warrants issues">1,500,000 warrants underlying additional Private Placement Warrants the Company issues to the Sponsor, officers, directors, initial shareholders or their affiliates in payment of Working Capital Loans made to the Company, will be identical to the warrants underlying the Units being offered in the Initial Public Offering. Pursuant to the agreement that the Company has entered into with the holders of the Private Placement Warrants, the Private Placement Warrants may not, subject to certain limited exceptions, be transferred, assigned or sold by the holder until 30 days after the completion of the Company’s initial Business Combination. At June 30, 2024 and December 31, 2023, there were 9,999,940 Public Warrants outstanding and 7,796,842 Private Placement Warrants outstanding, respectively. The Company accounts for warrants as either equity-classified or liability-classified instruments based on an assessment of the instruments’ specific terms and applicable authoritative guidance in ASC 480 and ASC 815. The assessment considers whether the instruments are free standing financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the instruments meet all of the requirements for equity classification under ASC 815, including whether the instruments are indexed to the Company’s own common shares and whether the instrument holders could potentially require “net cash settlement” in a circumstance outside of the Company’s control, among other conditions for equity classification. This assessment, which requires the use of professional judgment, was conducted at the time of warrant issuance and as of each subsequent period end date while the instruments are outstanding. Management has concluded that the Public Warrants and Private Placement Warrants issued pursuant to the warrant agreement qualify for equity accounting treatment.

5000000

0.0001

500000000

0.0001

4747021

7408425

50000000

0.0001

5833083

69999

30000

5733084

99999

0.2258 0.2258 0.551 0.551

P5Y

0.01

18.00

1500000

9999940

7796842

NOTE 8. INITIAL BUSINESS COMBINATION On August 3, 2022, INFINT entered into the Business Combination Agreement with Merger Sub and Seamless, which was amended by an amendment dated October 20, 2022, an amendment dated November 29, 2022 and an amendment dated February 20, 2023. The Business Combination Agreement was unanimously approved by INFINT’s board of directors. If the closing conditions are satisfied or waived in accordance with the Business Combination Agreement and the transactions contemplated by the Business Combination Agreement are consummated, Merger Sub will merge with and into Seamless, with Seamless surviving the Merger as a wholly owned subsidiary of INFINT. Merger Consideration Under the Business Combination Agreement, Seamless Shareholders are expected to receive Seamless Value in aggregate consideration in the form of New INFINT Ordinary Shares, equal to the quotient obtained by dividing (i) the Seamless Value by (ii) $10.00. At the effective time, by virtue of the Merger: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">all shares of Seamless issued and outstanding immediately prior to the effective time will be cancelled and converted into the right to receive, in accordance with the terms of the Business Combination Agreement and the Payment Spreadsheet, the number of New INFINT Ordinary Shares set forth in the Payment Spreadsheet;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Seamless options that are outstanding immediately prior to the effective time, whether vested or unvested, will be converted into the Exchanged Options in accordance with the terms of the Company Equity Plan, the Business Combination Agreement and the Payment Spreadsheet. Following the effective time, the Exchanged Options will continue to be governed by the same terms and conditions (including vesting and exercisability terms) as were applicable to the corresponding former Seamless option(s) immediately prior to the effective time.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">the RSUs that are outstanding immediately prior to the effective time will be converted into the Exchanged RSUs in accordance with the terms of the Company Equity Plan, the Business Combination Agreement and the Payment Spreadsheet. Following the effective time, the Exchanged RSUs will continue to be governed by the same terms and conditions (including vesting and exercisability terms) as were applicable to the corresponding former Seamless RSUs immediately prior to the effective time.</td></tr> </table> Proxy Statement/Prospectus and INFINT Shareholder Meeting The Company filed with the SEC a Registration Statement on Form S-4 (the “Form S-4”) on September 30, 2022, as amended on December 1, 2022, February 13, 2023, April 18, 2023, June 9, 2023, August 11, 2023, December 7, 2023, April 22, 2024, June 13, 2024, June 27, 2024 and July 11, 2024 which included a proxy statement/prospectus that will be used as a proxy statement to be used in connection with the special meeting of the INFINT shareholders to be held to consider approval and adoption of (i) the Business Combination Agreement and the transactions contemplated therein, (ii) the issuance of New INFINT Ordinary Shares as contemplated by the Business Combination Agreement, (iii) the INFINT Amended and Restated Memorandum and Articles and (iv) any other proposals the parties deem necessary or desirable to effectuate the transactions contemplated by the Business Combination Agreement. On July 12, 2024, the SEC declared the Form S-4 effective and the Company filed the proxy statement in connection with the extraordinary general meeting of the Company’s shareholders that was held on August 6, 2024 regarding the Business Combination, at which meeting the proposed Business Combination and related proposals were approved. The proposed Business Combination is currently anticipated to close on or around August 20, 2024, subject to the satisfaction of certain closing conditions. Upon closing of the proposed Business Combination described above, the Company will change its name to Currenc Group Inc. The Company’s securities will be delisted from NYSE and it is expected that the post-combination company’s ordinary shares will be listed on Nasdaq under the symbol “CURR.” The Company will not have any units outstanding following the consummation of the Business Combination. Other than as specifically discussed, this quarterly report does not assume the closing of the proposed Business Combination.

10.00

NOTE 9. SUBSEQUENT EVENTS In accordance with ASC 855, “Subsequent Events”, which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before financial statements are issued, the Company has evaluated all events or transactions that occurred up to the date the audited financial statements were issued. Based upon this review, the Company did not identify any subsequent events that would have required adjustment or disclosure in the condensed financial statements. In accordance with the approval of the Third Extension Proposal, additional funds in the amount of $<span id="xdx_903_eus-gaap--Deposits_iI_c20240718__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TrustAccountMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zqur0w5LzsJ8" title="Deposited to trust account">80,000 were deposited by Seamless to the Trust Account on July 18, 2024.

80000

48516765

62798729

300000

2000000

5428790

6756989

2450871

3067697

137854 92485 5014829 4443985

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4483228

34225239

37563550

103361724

121206663

100000

1016490

1321621

154234

342432

9191713

9849778

27001383

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38128708

39383831

141490432

160590494

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13404390

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53988231

58946385

86488519 83757317

10000000

9192140

152325

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173862148

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22741749

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-15306550

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200000

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1251752

1481263

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2242961

2210415

3230844

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1351939

1 Organization and business DESCRIPTION OF ORGANIZATION, BUSINESS OPERATIONS AND GOING CONCERN Seamless Group Inc. (the “Company”) is a limited liability company incorporated in Cayman Islands. It is an investment holding company. <p id="xdx_897_eus-gaap--ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDescriptionTextBlock_zVKw8bkyYSG5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify">The Company’s principal subsidiaries at December 31, 2023 are set out below: SCHEDULE OF PRINCIPAL SUBSIDIARIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Percentage of ownership held by the Company</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Company Name</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Place of incorporation</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Principal activities</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Directly</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Indirectly</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 50%; text-align: center">Dynamic Investment Holdings Limited</td><td style="width: 2%"> </td> <td id="xdx_987_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20230101__20231231__srt--OwnershipAxis__custom--DynamicInvestmentHoldingsLimitedMember_zHag2zU4z8md" style="width: 1%; text-align: center">Cayman Islands</td><td style="width: 21%"> </td> <td id="xdx_981_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20230101__20231231__srt--OwnershipAxis__custom--DynamicInvestmentHoldingsLimitedMember_zv1woQOj8HX1" style="width: 1%; text-align: center">Investment holding</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20230101__20231231__srt--OwnershipAxis__custom--DynamicInvestmentHoldingsLimitedMember__us-gaap--InvestmentTypeAxis__custom--DirectlyMember_zc1skwS70yAk" style="width: 21%; text-align: right" title="Percentage of ownership">100</td><td style="width: 1%; text-align: left">%</td><td style="width: 0"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">Dynamic (Asia) Group Inc.</td><td> </td> <td id="xdx_987_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20230101__20231231__srt--OwnershipAxis__custom--DynamicAsiaGroupIncMember_zQVMyjcKPtQk" style="text-align: center">British Virgin Islands</td><td> </td> <td id="xdx_988_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20230101__20231231__srt--OwnershipAxis__custom--DynamicAsiaGroupIncMember_zoaKtuags3E3" style="text-align: center">Investment holding</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Percentage of ownership">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20230101__20231231__srt--OwnershipAxis__custom--DynamicAsiaGroupIncMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_z9ua0Zo39GC6" style="text-align: right" title="Percentage of ownership">100</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">TNG (Asia) Limited</td><td> </td> <td id="xdx_984_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20230101__20231231__srt--OwnershipAxis__custom--TNGAsiaLimitedMember_zH22wtMr8Af8" style="text-align: center">Hong Kong</td><td> </td> <td id="xdx_98D_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20230101__20231231__srt--OwnershipAxis__custom--TNGAsiaLimitedMember_zGFW045Cpno5" style="text-align: center">Provision of mobile electronic wallet</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20230101__20231231__srt--OwnershipAxis__custom--TNGAsiaLimitedMember__us-gaap--InvestmentTypeAxis__custom--DirectlyMember_zMGdDMCiql0l" style="text-align: right" title="Percentage of ownership">100</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">Tranglo Sdn. Bhd.</td><td> </td> <td id="xdx_98F_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20230101__20231231__srt--OwnershipAxis__custom--TrangloSdnBhdMember_z1BHEBB7EOR5" style="text-align: center">Malaysia</td><td> </td> <td id="xdx_98A_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20230101__20231231__srt--OwnershipAxis__custom--TrangloSdnBhdMember_z4q6y4tQsng3" style="text-align: center">Provision of international airtime reload, international money transfer services, its related implementation, technical and maintenance services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Percentage of ownership">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20230101__20231231__srt--OwnershipAxis__custom--TrangloSdnBhdMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zqDBW8RpwbRd" style="text-align: right" title="Percentage of ownership">60</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">未來網絡科技投資股份有限公司</td><td> </td> <td id="xdx_98E_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20230101__20231231__srt--OwnershipAxis__custom--FutureNetworkTechnologyInvestmentCoLtdMember_z0VvJAUvGyE8" style="text-align: center">Taiwan</td><td> </td> <td id="xdx_984_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20230101__20231231__srt--OwnershipAxis__custom--FutureNetworkTechnologyInvestmentCoLtdMember_z9AiQWP21ty1" style="text-align: center">Investment holding</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Percentage of ownership">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20230101__20231231__srt--OwnershipAxis__custom--FutureNetworkTechnologyInvestmentCoLtdMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zCTd0nRXphek" style="text-align: right" title="Percentage of ownership">100</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">GEA Holdings Limited</td><td> </td> <td id="xdx_989_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20230101__20231231__srt--OwnershipAxis__custom--GEAHoldingsLimitedMember_zirncRsbQ7zh" style="text-align: center">Cayman Islands</td><td> </td> <td id="xdx_98A_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20230101__20231231__srt--OwnershipAxis__custom--GEAHoldingsLimitedMember_zYkMvUJALRG8" style="text-align: center">Investment holding</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Percentage of ownership">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20230101__20231231__srt--OwnershipAxis__custom--GEAHoldingsLimitedMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zXyjprozCELj" style="text-align: right" title="Percentage of ownership">100</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">GEA Limited</td><td> </td> <td id="xdx_986_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20230101__20231231__srt--OwnershipAxis__custom--GEALimitedMember_z6277nIXNX1e" style="text-align: center">Hong Kong</td><td> </td> <td id="xdx_985_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20230101__20231231__srt--OwnershipAxis__custom--GEALimitedMember_zFZd1dch0Zhk" style="text-align: center">Operating a global fund transfer platform for financial institutions, e-wallet operators and other participants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Percentage of ownership">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20230101__20231231__srt--OwnershipAxis__custom--GEALimitedMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_z0zbfe6bNXj8" style="text-align: right" title="Percentage of ownership">100</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">GEA Pte Ltd.</td><td> </td> <td id="xdx_981_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20230101__20231231__srt--OwnershipAxis__custom--GEAPteLtdMember_zRm7Bbe9yME1" style="text-align: center">Singapore</td><td> </td> <td id="xdx_986_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20230101__20231231__srt--OwnershipAxis__custom--GEAPteLtdMember_zZFC06Rs7GHj" style="text-align: center">Transaction and payment processing services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Percentage of ownership">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20230101__20231231__srt--OwnershipAxis__custom--GEAPteLtdMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zMY9VbOqhnL1" style="text-align: right" title="Percentage of ownership">100</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">Bagus Fintech Pte. Ltd.</td><td> </td> <td id="xdx_986_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20230101__20231231__srt--OwnershipAxis__custom--BagusFintechPteLtdMember_zDMHyukUiIgi" style="text-align: center">Singapore</td><td> </td> <td id="xdx_98C_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20230101__20231231__srt--OwnershipAxis__custom--BagusFintechPteLtdMember_zKIdF2nj4b4h" style="text-align: center">Providing business center services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Percentage of ownership">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20230101__20231231__srt--OwnershipAxis__custom--BagusFintechPteLtdMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zFNGVxPZw7le" style="text-align: right" title="Percentage of ownership">100</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">Dynamic (Asia) Holdings Limited</td><td> </td> <td id="xdx_98C_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20230101__20231231__srt--OwnershipAxis__custom--DynamicAsiaHoldingsLimitedMember_zoSp2WSqqhg9" style="text-align: center">Cayman Islands</td><td> </td> <td id="xdx_985_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20230101__20231231__srt--OwnershipAxis__custom--DynamicAsiaHoldingsLimitedMember_zxl74D6HI8A7" style="text-align: center">Investment holding</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Percentage of ownership">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20230101__20231231__srt--OwnershipAxis__custom--DynamicAsiaHoldingsLimitedMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zbmpLkgFQacl" style="text-align: right" title="Percentage of ownership">100</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">Dynamic FinTech Group (HK) Limited</td><td> </td> <td id="xdx_98F_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20230101__20231231__srt--OwnershipAxis__custom--DynamicFinTechGroupHKLimitedMember_znVVoIImvNS8" style="text-align: center">Hong Kong</td><td> </td> <td id="xdx_98D_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20230101__20231231__srt--OwnershipAxis__custom--DynamicFinTechGroupHKLimitedMember_zbMPk7wavXBb" style="text-align: center">Provision of corporate governance consultancy, management and advisory services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Percentage of ownership">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20230101__20231231__srt--OwnershipAxis__custom--DynamicFinTechGroupHKLimitedMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zIsXv66dC2fl" style="text-align: right" title="Percentage of ownership">100</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">Tranglo Holdings Limited</td><td> </td> <td id="xdx_98E_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20230101__20231231__srt--OwnershipAxis__custom--TrangloHoldingsLimitedMember_zvgYlDlWxzyh" style="text-align: center">Cayman Islands</td><td> </td> <td id="xdx_98E_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20230101__20231231__srt--OwnershipAxis__custom--TrangloHoldingsLimitedMember_zPvGeNZyMCJi" style="text-align: center">Investment holding</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Percentage of ownership">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20230101__20231231__srt--OwnershipAxis__custom--TrangloHoldingsLimitedMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zj7915mbSTL9" style="text-align: right" title="Percentage of ownership">100</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">The WSF Group Holdings Limited</td><td> </td> <td id="xdx_98F_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20230101__20231231__srt--OwnershipAxis__custom--TheWSFGroupHoldingsLimitedMember_z3YVm3i9jQB9" style="text-align: center">British Virgin Islands</td><td> </td> <td id="xdx_98C_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20230101__20231231__srt--OwnershipAxis__custom--TheWSFGroupHoldingsLimitedMember_zN8Aq0XcxQQd" style="text-align: center">Investment holding</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Percentage of ownership">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20230101__20231231__srt--OwnershipAxis__custom--TheWSFGroupHoldingsLimitedMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zP5pmAwqGfbh" style="text-align: right" title="Percentage of ownership">100</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">The Wall Street Factory Limited</td><td> </td> <td id="xdx_98A_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20230101__20231231__srt--OwnershipAxis__custom--TheWallStreetFactoryLimitedMember_zIso02oRnbq3" style="text-align: center">Hong Kong</td><td> </td> <td id="xdx_982_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20230101__20231231__srt--OwnershipAxis__custom--TheWallStreetFactoryLimitedMember_zXaHigAiQfG2" style="text-align: center">Providing business center services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Percentage of ownership">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20230101__20231231__srt--OwnershipAxis__custom--TheWallStreetFactoryLimitedMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zMYt6jdtmydh" style="text-align: right" title="Percentage of ownership">100</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">Bagus Financial Services Limited</td><td> </td> <td id="xdx_98A_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20230101__20231231__srt--OwnershipAxis__custom--BagusFinancialServicesLimitedMember_zTDTezy7Rut4" style="text-align: center">Hong Kong</td><td> </td> <td id="xdx_985_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20230101__20231231__srt--OwnershipAxis__custom--BagusFinancialServicesLimitedMember_zORwyGGKa4k3" style="text-align: center">Provision of IR services and PR function events</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Percentage of ownership">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20230101__20231231__srt--OwnershipAxis__custom--BagusFinancialServicesLimitedMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zxQdVx9shij7" style="text-align: right" title="Percentage of ownership">100</td><td style="text-align: left">%</td></tr> </table> SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.5in">1</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Organization and business (Continued)</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="vertical-align: bottom"> <td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Percentage of ownership held by the Company</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Company Name</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Place of incorporation</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Principal activities</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Directly</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Indirectly</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 50%; text-align: center">PT Tranglo Indonesia</td><td style="width: 2%"> </td> <td id="xdx_986_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20230101__20231231__srt--OwnershipAxis__custom--PTTrangloIndonesiaMember_zHfqkcVMxsT4" style="text-align: center; width: 1%">Indonesia</td><td style="width: 21%"> </td> <td id="xdx_98E_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20230101__20231231__srt--OwnershipAxis__custom--PTTrangloIndonesiaMember_zWIsNuMjFlGh" style="width: 1%; text-align: center">Operating money remittance business</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 0"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_c20230101__20231231__srt--OwnershipAxis__custom--PTTrangloIndonesiaMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zwE1DNzH1W23" style="width: 10%; text-align: right" title="Percentage of ownership">60</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">PT Tranglo Solusindo</td><td> </td> <td id="xdx_984_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20230101__20231231__srt--OwnershipAxis__custom--PTTrangloSolusindoMember_zTFwCDedMjK4" style="text-align: center">Indonesia</td><td> </td> <td id="xdx_98F_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20230101__20231231__srt--OwnershipAxis__custom--PTTrangloSolusindoMember_zkgIxNSaxwDh" style="text-align: center">Providing and sourcing airtime and other related services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_c20230101__20231231__srt--OwnershipAxis__custom--PTTrangloSolusindoMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_z4MdH4sdmMKj" style="text-align: right" title="Percentage of ownership">60</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">Tranglo (MEA) Limited</td><td> </td> <td id="xdx_98C_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20230101__20231231__srt--OwnershipAxis__custom--TrangloMEALimitedMember_zNfnjFySzac9" style="text-align: center">Hong Kong</td><td> </td> <td id="xdx_988_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20230101__20231231__srt--OwnershipAxis__custom--TrangloMEALimitedMember_zI3aL7t2wh4j" style="text-align: center">Providing and sourcing airtime and other related services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_c20230101__20231231__srt--OwnershipAxis__custom--TrangloMEALimitedMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_z3YZqbyDffkf" style="text-align: right" title="Percentage of ownership">60</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">Tranglo Europe Ltd</td><td> </td> <td id="xdx_98D_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20230101__20231231__srt--OwnershipAxis__custom--TrangloEuropeLimitedMember_z23RF2xn3Mv8" style="text-align: center">United Kingdom</td><td> </td> <td id="xdx_984_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20230101__20231231__srt--OwnershipAxis__custom--TrangloEuropeLimitedMember_zZmBQgHoWyl9" style="text-align: center">Operating money remittance business</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_c20230101__20231231__srt--OwnershipAxis__custom--TrangloEuropeLimitedMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zRIJHJbDGbzc" style="text-align: right" title="Percentage of ownership">60</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">Tranglo Pte. Ltd.</td><td> </td> <td id="xdx_98D_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20230101__20231231__srt--OwnershipAxis__custom--TrangloPteLtdMember_zj9CzNrN5jMc" style="text-align: center">Singapore</td><td> </td> <td id="xdx_980_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20230101__20231231__srt--OwnershipAxis__custom--TrangloPteLtdMember_ztmU8A4lAci9" style="text-align: center">Operating money remittance business</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_c20230101__20231231__srt--OwnershipAxis__custom--TrangloPteLtdMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zHjsfXsnA0d7" style="text-align: right" title="Percentage of ownership">60</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">Tik FX Malaysia Sdn. Bhd.</td><td> </td> <td id="xdx_984_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20230101__20231231__srt--OwnershipAxis__custom--TikFXMalaysiaSdnBhdMember_zCBEQEaYHHC4" style="text-align: center">Malaysia</td><td> </td> <td id="xdx_984_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20230101__20231231__srt--OwnershipAxis__custom--TikFXMalaysiaSdnBhdMember_z9dpEAGIrcL6" style="text-align: center">Dormant</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_c20230101__20231231__srt--OwnershipAxis__custom--TikFXMalaysiaSdnBhdMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zxOPSrCv22Hi" style="text-align: right" title="Percentage of ownership">60</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">Treatsup Sdn. Bhd.</td><td> </td> <td id="xdx_982_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20230101__20231231__srt--OwnershipAxis__custom--TreatsupSdnBhdMember_zFDoV2plb9N6" style="text-align: center">Malaysia</td><td> </td> <td id="xdx_989_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20230101__20231231__srt--OwnershipAxis__custom--TreatsupSdnBhdMember_zXiaFhVIZJ9b" style="text-align: center">Research, development and commercialisation of Treatsup application and provision of implementation, technical services and maintenance related to the application</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_c20230101__20231231__srt--OwnershipAxis__custom--TreatsupSdnBhdMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_ztRyVrjXAcj2" style="text-align: right" title="Percentage of ownership">60</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">Dynamic Indonesia Holdings Limited</td><td> </td> <td id="xdx_98B_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20230101__20231231__srt--OwnershipAxis__custom--DynamicIndonesiaHoldingsLimitedMember_zz4obQ69D5S1" style="text-align: center">Cayman Islands</td><td> </td> <td id="xdx_986_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20230101__20231231__srt--OwnershipAxis__custom--DynamicIndonesiaHoldingsLimitedMember_z99wmmcMzLHk" style="text-align: center">Investment holding</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_c20230101__20231231__srt--OwnershipAxis__custom--DynamicIndonesiaHoldingsLimitedMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_z857NjTOkIEe" style="text-align: right" title="Percentage of ownership">59.2</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">Dynamic Indonesia Pte. Ltd.</td><td> </td> <td id="xdx_984_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20230101__20231231__srt--OwnershipAxis__custom--DynamicIndonesiaPteLtdMember_zow5sVpElJ2d" style="text-align: center">Singapore</td><td> </td> <td id="xdx_98D_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20230101__20231231__srt--OwnershipAxis__custom--DynamicIndonesiaPteLtdMember_z5Dh7xDqmNHb" style="text-align: center">Retail sales via the internet and development of other software and programming activities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_c20230101__20231231__srt--OwnershipAxis__custom--DynamicIndonesiaPteLtdMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zHFNDX7jk9Yg" style="text-align: right" title="Percentage of ownership">49.8</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">PT Dynamic Wallet Indonesia</td><td> </td> <td id="xdx_987_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20230101__20231231__srt--OwnershipAxis__custom--PTTNGWalletIndonesiaMember_zKXXbeTTPJT1" style="text-align: center">Indonesia</td><td> </td> <td id="xdx_98D_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20230101__20231231__srt--OwnershipAxis__custom--PTTNGWalletIndonesiaMember_zYiuWREtDSdg" style="text-align: center">Business operations have not commenced</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_c20230101__20231231__srt--OwnershipAxis__custom--PTTNGWalletIndonesiaMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zGScxmKPwOia" style="text-align: right" title="Percentage of ownership">49.9</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">PT Walletku Indompet Indonesia</td><td> </td> <td id="xdx_983_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20230101__20231231__srt--OwnershipAxis__custom--PTWalletkuIndompetIndonesiaMember_zVPko6BMbzG6" style="text-align: center">Indonesia</td><td> </td> <td id="xdx_985_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20230101__20231231__srt--OwnershipAxis__custom--PTWalletkuIndompetIndonesiaMember_zFPe7e1fHNGg" style="text-align: center">(i) Retail commerce through media, for textile commodities, clothing, footwear and personal needs, (ii) web portal and/or digital platforms for commercial purposes, and (iii) software publisher</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_c20230101__20231231__srt--OwnershipAxis__custom--PTWalletkuIndompetIndonesiaMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_ztlFz1S8wbV" style="text-align: right" title="Percentage of ownership">49.9</td><td style="text-align: left">%</td></tr> </table> SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

<p id="xdx_897_eus-gaap--ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDescriptionTextBlock_zVKw8bkyYSG5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify">The Company’s principal subsidiaries at December 31, 2023 are set out below: SCHEDULE OF PRINCIPAL SUBSIDIARIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Percentage of ownership held by the Company</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Company Name</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Place of incorporation</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Principal activities</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Directly</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Indirectly</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 50%; text-align: center">Dynamic Investment Holdings Limited</td><td style="width: 2%"> </td> <td id="xdx_987_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20230101__20231231__srt--OwnershipAxis__custom--DynamicInvestmentHoldingsLimitedMember_zHag2zU4z8md" style="width: 1%; text-align: center">Cayman Islands</td><td style="width: 21%"> </td> <td id="xdx_981_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20230101__20231231__srt--OwnershipAxis__custom--DynamicInvestmentHoldingsLimitedMember_zv1woQOj8HX1" style="width: 1%; text-align: center">Investment holding</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20230101__20231231__srt--OwnershipAxis__custom--DynamicInvestmentHoldingsLimitedMember__us-gaap--InvestmentTypeAxis__custom--DirectlyMember_zc1skwS70yAk" style="width: 21%; text-align: right" title="Percentage of ownership">100</td><td style="width: 1%; text-align: left">%</td><td style="width: 0"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">Dynamic (Asia) Group Inc.</td><td> </td> <td id="xdx_987_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20230101__20231231__srt--OwnershipAxis__custom--DynamicAsiaGroupIncMember_zQVMyjcKPtQk" style="text-align: center">British Virgin Islands</td><td> </td> <td id="xdx_988_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20230101__20231231__srt--OwnershipAxis__custom--DynamicAsiaGroupIncMember_zoaKtuags3E3" style="text-align: center">Investment holding</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Percentage of ownership">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20230101__20231231__srt--OwnershipAxis__custom--DynamicAsiaGroupIncMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_z9ua0Zo39GC6" style="text-align: right" title="Percentage of ownership">100</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">TNG (Asia) Limited</td><td> </td> <td id="xdx_984_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20230101__20231231__srt--OwnershipAxis__custom--TNGAsiaLimitedMember_zH22wtMr8Af8" style="text-align: center">Hong Kong</td><td> </td> <td id="xdx_98D_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20230101__20231231__srt--OwnershipAxis__custom--TNGAsiaLimitedMember_zGFW045Cpno5" style="text-align: center">Provision of mobile electronic wallet</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20230101__20231231__srt--OwnershipAxis__custom--TNGAsiaLimitedMember__us-gaap--InvestmentTypeAxis__custom--DirectlyMember_zMGdDMCiql0l" style="text-align: right" title="Percentage of ownership">100</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">Tranglo Sdn. Bhd.</td><td> </td> <td id="xdx_98F_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20230101__20231231__srt--OwnershipAxis__custom--TrangloSdnBhdMember_z1BHEBB7EOR5" style="text-align: center">Malaysia</td><td> </td> <td id="xdx_98A_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20230101__20231231__srt--OwnershipAxis__custom--TrangloSdnBhdMember_z4q6y4tQsng3" style="text-align: center">Provision of international airtime reload, international money transfer services, its related implementation, technical and maintenance services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Percentage of ownership">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20230101__20231231__srt--OwnershipAxis__custom--TrangloSdnBhdMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zqDBW8RpwbRd" style="text-align: right" title="Percentage of ownership">60</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">未來網絡科技投資股份有限公司</td><td> </td> <td id="xdx_98E_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20230101__20231231__srt--OwnershipAxis__custom--FutureNetworkTechnologyInvestmentCoLtdMember_z0VvJAUvGyE8" style="text-align: center">Taiwan</td><td> </td> <td id="xdx_984_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20230101__20231231__srt--OwnershipAxis__custom--FutureNetworkTechnologyInvestmentCoLtdMember_z9AiQWP21ty1" style="text-align: center">Investment holding</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Percentage of ownership">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20230101__20231231__srt--OwnershipAxis__custom--FutureNetworkTechnologyInvestmentCoLtdMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zCTd0nRXphek" style="text-align: right" title="Percentage of ownership">100</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">GEA Holdings Limited</td><td> </td> <td id="xdx_989_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20230101__20231231__srt--OwnershipAxis__custom--GEAHoldingsLimitedMember_zirncRsbQ7zh" style="text-align: center">Cayman Islands</td><td> </td> <td id="xdx_98A_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20230101__20231231__srt--OwnershipAxis__custom--GEAHoldingsLimitedMember_zYkMvUJALRG8" style="text-align: center">Investment holding</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Percentage of ownership">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20230101__20231231__srt--OwnershipAxis__custom--GEAHoldingsLimitedMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zXyjprozCELj" style="text-align: right" title="Percentage of ownership">100</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">GEA Limited</td><td> </td> <td id="xdx_986_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20230101__20231231__srt--OwnershipAxis__custom--GEALimitedMember_z6277nIXNX1e" style="text-align: center">Hong Kong</td><td> </td> <td id="xdx_985_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20230101__20231231__srt--OwnershipAxis__custom--GEALimitedMember_zFZd1dch0Zhk" style="text-align: center">Operating a global fund transfer platform for financial institutions, e-wallet operators and other participants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Percentage of ownership">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20230101__20231231__srt--OwnershipAxis__custom--GEALimitedMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_z0zbfe6bNXj8" style="text-align: right" title="Percentage of ownership">100</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">GEA Pte Ltd.</td><td> </td> <td id="xdx_981_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20230101__20231231__srt--OwnershipAxis__custom--GEAPteLtdMember_zRm7Bbe9yME1" style="text-align: center">Singapore</td><td> </td> <td id="xdx_986_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20230101__20231231__srt--OwnershipAxis__custom--GEAPteLtdMember_zZFC06Rs7GHj" style="text-align: center">Transaction and payment processing services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Percentage of ownership">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20230101__20231231__srt--OwnershipAxis__custom--GEAPteLtdMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zMY9VbOqhnL1" style="text-align: right" title="Percentage of ownership">100</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">Bagus Fintech Pte. Ltd.</td><td> </td> <td id="xdx_986_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20230101__20231231__srt--OwnershipAxis__custom--BagusFintechPteLtdMember_zDMHyukUiIgi" style="text-align: center">Singapore</td><td> </td> <td id="xdx_98C_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20230101__20231231__srt--OwnershipAxis__custom--BagusFintechPteLtdMember_zKIdF2nj4b4h" style="text-align: center">Providing business center services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Percentage of ownership">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20230101__20231231__srt--OwnershipAxis__custom--BagusFintechPteLtdMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zFNGVxPZw7le" style="text-align: right" title="Percentage of ownership">100</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">Dynamic (Asia) Holdings Limited</td><td> </td> <td id="xdx_98C_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20230101__20231231__srt--OwnershipAxis__custom--DynamicAsiaHoldingsLimitedMember_zoSp2WSqqhg9" style="text-align: center">Cayman Islands</td><td> </td> <td id="xdx_985_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20230101__20231231__srt--OwnershipAxis__custom--DynamicAsiaHoldingsLimitedMember_zxl74D6HI8A7" style="text-align: center">Investment holding</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Percentage of ownership">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20230101__20231231__srt--OwnershipAxis__custom--DynamicAsiaHoldingsLimitedMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zbmpLkgFQacl" style="text-align: right" title="Percentage of ownership">100</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">Dynamic FinTech Group (HK) Limited</td><td> </td> <td id="xdx_98F_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20230101__20231231__srt--OwnershipAxis__custom--DynamicFinTechGroupHKLimitedMember_znVVoIImvNS8" style="text-align: center">Hong Kong</td><td> </td> <td id="xdx_98D_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20230101__20231231__srt--OwnershipAxis__custom--DynamicFinTechGroupHKLimitedMember_zbMPk7wavXBb" style="text-align: center">Provision of corporate governance consultancy, management and advisory services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Percentage of ownership">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20230101__20231231__srt--OwnershipAxis__custom--DynamicFinTechGroupHKLimitedMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zIsXv66dC2fl" style="text-align: right" title="Percentage of ownership">100</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">Tranglo Holdings Limited</td><td> </td> <td id="xdx_98E_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20230101__20231231__srt--OwnershipAxis__custom--TrangloHoldingsLimitedMember_zvgYlDlWxzyh" style="text-align: center">Cayman Islands</td><td> </td> <td id="xdx_98E_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20230101__20231231__srt--OwnershipAxis__custom--TrangloHoldingsLimitedMember_zPvGeNZyMCJi" style="text-align: center">Investment holding</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Percentage of ownership">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20230101__20231231__srt--OwnershipAxis__custom--TrangloHoldingsLimitedMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zj7915mbSTL9" style="text-align: right" title="Percentage of ownership">100</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">The WSF Group Holdings Limited</td><td> </td> <td id="xdx_98F_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20230101__20231231__srt--OwnershipAxis__custom--TheWSFGroupHoldingsLimitedMember_z3YVm3i9jQB9" style="text-align: center">British Virgin Islands</td><td> </td> <td id="xdx_98C_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20230101__20231231__srt--OwnershipAxis__custom--TheWSFGroupHoldingsLimitedMember_zN8Aq0XcxQQd" style="text-align: center">Investment holding</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Percentage of ownership">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20230101__20231231__srt--OwnershipAxis__custom--TheWSFGroupHoldingsLimitedMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zP5pmAwqGfbh" style="text-align: right" title="Percentage of ownership">100</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">The Wall Street Factory Limited</td><td> </td> <td id="xdx_98A_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20230101__20231231__srt--OwnershipAxis__custom--TheWallStreetFactoryLimitedMember_zIso02oRnbq3" style="text-align: center">Hong Kong</td><td> </td> <td id="xdx_982_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20230101__20231231__srt--OwnershipAxis__custom--TheWallStreetFactoryLimitedMember_zXaHigAiQfG2" style="text-align: center">Providing business center services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Percentage of ownership">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20230101__20231231__srt--OwnershipAxis__custom--TheWallStreetFactoryLimitedMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zMYt6jdtmydh" style="text-align: right" title="Percentage of ownership">100</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">Bagus Financial Services Limited</td><td> </td> <td id="xdx_98A_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20230101__20231231__srt--OwnershipAxis__custom--BagusFinancialServicesLimitedMember_zTDTezy7Rut4" style="text-align: center">Hong Kong</td><td> </td> <td id="xdx_985_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20230101__20231231__srt--OwnershipAxis__custom--BagusFinancialServicesLimitedMember_zORwyGGKa4k3" style="text-align: center">Provision of IR services and PR function events</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Percentage of ownership">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20230101__20231231__srt--OwnershipAxis__custom--BagusFinancialServicesLimitedMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zxQdVx9shij7" style="text-align: right" title="Percentage of ownership">100</td><td style="text-align: left">%</td></tr> </table> SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.5in">1</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Organization and business (Continued)</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="vertical-align: bottom"> <td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Percentage of ownership held by the Company</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Company Name</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Place of incorporation</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Principal activities</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Directly</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Indirectly</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 50%; text-align: center">PT Tranglo Indonesia</td><td style="width: 2%"> </td> <td id="xdx_986_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20230101__20231231__srt--OwnershipAxis__custom--PTTrangloIndonesiaMember_zHfqkcVMxsT4" style="text-align: center; width: 1%">Indonesia</td><td style="width: 21%"> </td> <td id="xdx_98E_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20230101__20231231__srt--OwnershipAxis__custom--PTTrangloIndonesiaMember_zWIsNuMjFlGh" style="width: 1%; text-align: center">Operating money remittance business</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 0"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_c20230101__20231231__srt--OwnershipAxis__custom--PTTrangloIndonesiaMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zwE1DNzH1W23" style="width: 10%; text-align: right" title="Percentage of ownership">60</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">PT Tranglo Solusindo</td><td> </td> <td id="xdx_984_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20230101__20231231__srt--OwnershipAxis__custom--PTTrangloSolusindoMember_zTFwCDedMjK4" style="text-align: center">Indonesia</td><td> </td> <td id="xdx_98F_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20230101__20231231__srt--OwnershipAxis__custom--PTTrangloSolusindoMember_zkgIxNSaxwDh" style="text-align: center">Providing and sourcing airtime and other related services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_c20230101__20231231__srt--OwnershipAxis__custom--PTTrangloSolusindoMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_z4MdH4sdmMKj" style="text-align: right" title="Percentage of ownership">60</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">Tranglo (MEA) Limited</td><td> </td> <td id="xdx_98C_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20230101__20231231__srt--OwnershipAxis__custom--TrangloMEALimitedMember_zNfnjFySzac9" style="text-align: center">Hong Kong</td><td> </td> <td id="xdx_988_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20230101__20231231__srt--OwnershipAxis__custom--TrangloMEALimitedMember_zI3aL7t2wh4j" style="text-align: center">Providing and sourcing airtime and other related services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_c20230101__20231231__srt--OwnershipAxis__custom--TrangloMEALimitedMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_z3YZqbyDffkf" style="text-align: right" title="Percentage of ownership">60</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">Tranglo Europe Ltd</td><td> </td> <td id="xdx_98D_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20230101__20231231__srt--OwnershipAxis__custom--TrangloEuropeLimitedMember_z23RF2xn3Mv8" style="text-align: center">United Kingdom</td><td> </td> <td id="xdx_984_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20230101__20231231__srt--OwnershipAxis__custom--TrangloEuropeLimitedMember_zZmBQgHoWyl9" style="text-align: center">Operating money remittance business</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_c20230101__20231231__srt--OwnershipAxis__custom--TrangloEuropeLimitedMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zRIJHJbDGbzc" style="text-align: right" title="Percentage of ownership">60</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">Tranglo Pte. Ltd.</td><td> </td> <td id="xdx_98D_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20230101__20231231__srt--OwnershipAxis__custom--TrangloPteLtdMember_zj9CzNrN5jMc" style="text-align: center">Singapore</td><td> </td> <td id="xdx_980_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20230101__20231231__srt--OwnershipAxis__custom--TrangloPteLtdMember_ztmU8A4lAci9" style="text-align: center">Operating money remittance business</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_c20230101__20231231__srt--OwnershipAxis__custom--TrangloPteLtdMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zHjsfXsnA0d7" style="text-align: right" title="Percentage of ownership">60</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">Tik FX Malaysia Sdn. Bhd.</td><td> </td> <td id="xdx_984_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20230101__20231231__srt--OwnershipAxis__custom--TikFXMalaysiaSdnBhdMember_zCBEQEaYHHC4" style="text-align: center">Malaysia</td><td> </td> <td id="xdx_984_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20230101__20231231__srt--OwnershipAxis__custom--TikFXMalaysiaSdnBhdMember_z9dpEAGIrcL6" style="text-align: center">Dormant</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_c20230101__20231231__srt--OwnershipAxis__custom--TikFXMalaysiaSdnBhdMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zxOPSrCv22Hi" style="text-align: right" title="Percentage of ownership">60</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">Treatsup Sdn. Bhd.</td><td> </td> <td id="xdx_982_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20230101__20231231__srt--OwnershipAxis__custom--TreatsupSdnBhdMember_zFDoV2plb9N6" style="text-align: center">Malaysia</td><td> </td> <td id="xdx_989_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20230101__20231231__srt--OwnershipAxis__custom--TreatsupSdnBhdMember_zXiaFhVIZJ9b" style="text-align: center">Research, development and commercialisation of Treatsup application and provision of implementation, technical services and maintenance related to the application</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_c20230101__20231231__srt--OwnershipAxis__custom--TreatsupSdnBhdMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_ztRyVrjXAcj2" style="text-align: right" title="Percentage of ownership">60</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">Dynamic Indonesia Holdings Limited</td><td> </td> <td id="xdx_98B_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20230101__20231231__srt--OwnershipAxis__custom--DynamicIndonesiaHoldingsLimitedMember_zz4obQ69D5S1" style="text-align: center">Cayman Islands</td><td> </td> <td id="xdx_986_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20230101__20231231__srt--OwnershipAxis__custom--DynamicIndonesiaHoldingsLimitedMember_z99wmmcMzLHk" style="text-align: center">Investment holding</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_c20230101__20231231__srt--OwnershipAxis__custom--DynamicIndonesiaHoldingsLimitedMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_z857NjTOkIEe" style="text-align: right" title="Percentage of ownership">59.2</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">Dynamic Indonesia Pte. Ltd.</td><td> </td> <td id="xdx_984_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20230101__20231231__srt--OwnershipAxis__custom--DynamicIndonesiaPteLtdMember_zow5sVpElJ2d" style="text-align: center">Singapore</td><td> </td> <td id="xdx_98D_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20230101__20231231__srt--OwnershipAxis__custom--DynamicIndonesiaPteLtdMember_z5Dh7xDqmNHb" style="text-align: center">Retail sales via the internet and development of other software and programming activities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_c20230101__20231231__srt--OwnershipAxis__custom--DynamicIndonesiaPteLtdMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zHFNDX7jk9Yg" style="text-align: right" title="Percentage of ownership">49.8</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">PT Dynamic Wallet Indonesia</td><td> </td> <td id="xdx_987_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20230101__20231231__srt--OwnershipAxis__custom--PTTNGWalletIndonesiaMember_zKXXbeTTPJT1" style="text-align: center">Indonesia</td><td> </td> <td id="xdx_98D_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20230101__20231231__srt--OwnershipAxis__custom--PTTNGWalletIndonesiaMember_zYiuWREtDSdg" style="text-align: center">Business operations have not commenced</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_c20230101__20231231__srt--OwnershipAxis__custom--PTTNGWalletIndonesiaMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zGScxmKPwOia" style="text-align: right" title="Percentage of ownership">49.9</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">PT Walletku Indompet Indonesia</td><td> </td> <td id="xdx_983_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20230101__20231231__srt--OwnershipAxis__custom--PTWalletkuIndompetIndonesiaMember_zVPko6BMbzG6" style="text-align: center">Indonesia</td><td> </td> <td id="xdx_985_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20230101__20231231__srt--OwnershipAxis__custom--PTWalletkuIndompetIndonesiaMember_zFPe7e1fHNGg" style="text-align: center">(i) Retail commerce through media, for textile commodities, clothing, footwear and personal needs, (ii) web portal and/or digital platforms for commercial purposes, and (iii) software publisher</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_c20230101__20231231__srt--OwnershipAxis__custom--PTWalletkuIndompetIndonesiaMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_ztlFz1S8wbV" style="text-align: right" title="Percentage of ownership">49.9</td><td style="text-align: left">%</td></tr> </table>

Cayman Islands

Investment holding

British Virgin Islands

Investment holding

Hong Kong

Provision of mobile electronic wallet

Malaysia

Provision of international airtime reload, international money transfer services, its related implementation, technical and maintenance services

0.60

Taiwan

Investment holding

Cayman Islands

Investment holding

Hong Kong

Operating a global fund transfer platform for financial institutions, e-wallet operators and other participants

Singapore

Transaction and payment processing services

Singapore

Providing business center services

Cayman Islands

Investment holding

Hong Kong

Provision of corporate governance consultancy, management and advisory services

Cayman Islands

Investment holding

British Virgin Islands

Investment holding

Hong Kong

Providing business center services

Hong Kong

Provision of IR services and PR function events

Indonesia

Operating money remittance business

0.60

Indonesia

Providing and sourcing airtime and other related services

0.60

Hong Kong

Providing and sourcing airtime and other related services

0.60

United Kingdom

Operating money remittance business

0.60

Singapore

Operating money remittance business

0.60

Malaysia

Dormant

0.60

Malaysia

Research, development and commercialisation of Treatsup application and provision of implementation, technical services and maintenance related to the application

0.60

Cayman Islands

Investment holding

0.592

Singapore

Retail sales via the internet and development of other software and programming activities

0.498

Indonesia

Business operations have not commenced

0.499

Indonesia

(i) Retail commerce through media, for textile commodities, clothing, footwear and personal needs, (ii) web portal and/or digital platforms for commercial purposes, and (iii) software publisher

0.499

2 Summary of significant accounting policies SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (a) Basis of presentation and principles of consolidation The accompanying consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and include the accounts of Seamless Group Inc. and its majority-owned subsidiaries. Non-controlling interest is recorded in the consolidated financial statements to recognize the minority ownership interest in the consolidated subsidiaries. Non-controlling interest in the profits and losses represent the share of net income or loss allocated to the minority interest holders of the consolidated subsidiaries. All intercompany transactions and balances have been eliminated in these consolidated financial statements. (b) Going concern The accompanying audited consolidated financial statements have been prepared using the going concern basis of accounting, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As of December 31, 2023, the Company had cash balances of $48.5 million, a working capital deficit of $70.5 million and net capital deficit of $36.2 million. For the year ended December 31, 2023, the Company had a net loss of $14.4 million and net cash used in operating activities of $15.3 million. Net cash provided by investing activities was $1.4 million. Net cash used in financing activities was $1.2 million, resulting principally from repayment of borrowings. While the Company believes that it will be able to continue to grow the Company’s revenue base and control expenditures, there is no assurance that it will be able to achieve these goals. As a result, the Company continually monitors its capital structure and operating plans and evaluates various potential funding alternatives that may be needed to finance the Company’s business development activities, general and administrative expenses and growth strategy. (c) Use of estimates The preparation of the accompanying consolidated financial statements in conformity with GAAP requires management to make estimates, assumptions and judgments that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting periods. Certain accounting estimates of the Company require a higher degree of judgment than others in their application. These include valuation of goodwill, provision for credit losses, impairment of long-lived assets, impairment of investments in subsidiaries and equity investee, valuation of convertible bonds and income tax. Management bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results may differ from these estimates, and such differences may be material. SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.5in">2</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Summary of significant accounting policies (Continued)</td></tr> </table> (d) Foreign currency Foreign subsidiaries have designated the local currency of their respective countries as their functional currency. Transactions denominated in foreign currencies are re-measured into the functional currency at the exchange rates prevailing on the transaction dates. Monetary assets and liabilities denominated in foreign currencies are re-measured at the exchange rates prevailing at the balance sheet date. Exchange gains and losses are included in the consolidated statements of operations and comprehensive loss. Non-monetary items are not subsequently re-measured. The Company uses the average exchange rate for the year and the exchange rate at the balance sheet date to translate the operating results and financial position, respectively, from the functional currency into the US$. Translation differences are recorded in accumulated other comprehensive loss, a component of shareholders’ equity. (e) Cash and cash equivalents Cash and cash equivalents consist of cash on hand and highly liquid investments which are unrestricted as to withdrawal or use and with original maturities of three months or less when purchased. (f) Short-term investments Short-term investments include fixed deposits with original maturities of greater than three months but less than one year. (g) Restricted cash Restricted cash includes the balance in the Company’s e-wallet mobile application held by the Company on behalf of the individual e-wallet users. It is the Company’s policy to maintain approximately 110% of the amount deposited in case of immediate cash withdrawal by e-wallet users. It also includes fixed deposits pledged to the banks as security for banking facilities granted to the Company. (h) Accounts receivable Accounts receivable represents the amounts that the Company has an unconditional right to receive. The Company complies with Accounting Standards Codification (“ASC”) 326, which employs an approach based on expected losses to estimate the allowance for doubtful accounts. To measure the expected credit losses, accounts receivable has been grouped based on shared credit risk characteristics and the days past due. For certain large customers or customers with a high risk of default, the Company assesses the risk of loss of each customer individually based on their financial information, past trends of payments and, where applicable, an external credit rating. Also, the Company considers any accounts receivable having financial difficulty or in default with significant balances outstanding for more than 60 days to be credit-impaired, and assesses the risk of loss for each of these accounts individually. The expected loss rates are based on the payment profiles of sales over a period of 12 months from the measurement date and the corresponding historical credit losses experienced within this period. The historical loss rates are adjusted to reflect current and forward-looking information on macroeconomic factors affecting the ability of the customers to settle their debts. The Company has recorded a credit loss of US$187,462 and US$117,195 as of December 31, 2023 and 2022, respectively. SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.5in">2</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Summary of significant accounting policies (Continued)</td></tr> </table> (i) Escrow money receivable Escrow money receivable arises due to the time required to initiate collection from and clear transactions through external merchants. Escrow money receivable represents the money collected by merchants when e-wallet users fund mobile payments through the Company’s e-wallet mobile application, and there is a clearing period before the cash is received or settled, usually up to five business days. Escrow money receivables are recognized initially at the amount of consideration that is unconditional unless they contain significant financing components, when they are recognized at fair value. The Company holds the escrow money receivables with the object to collect the contractual cash flows and therefore measures them subsequently at amortized cost using the effective interest method. (j) Investment in an equity security The Company elected to record the equity investment in a privately held company using the measurement alternative at cost, less impairment, with subsequent adjustments for observable price changes resulting from orderly transactions for identical or similar investments of the same issuer. It is subject to periodic impairment reviews. The Company’s impairment analysis considers both qualitative and quantitative factors that may have a significant effect on the fair value of the equity security. (k) Equipment, net Equipment, net is stated at historical cost less accumulated depreciation and accumulated impairment losses, if any. Historical cost includes expenditures that are directly attributable to the acquisitions of the fixed assets. Subsequent costs are included in the asset’s carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Company and the cost of the item can be measured reliably. The carrying amount of any component accounted for as a separate asset is derecognized when replaced. All other repairs and maintenance are charged to the consolidated statements of operations and comprehensive loss during the year in which they are incurred. Depreciation of equipment is calculated using the straight-line method with no residual values over their estimated useful lives, as follows: SCHEDULE OF DEPRECIATION OF EQUIPMENT AND SOFTWARE STRAIGHT LINE METHOD <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 93%; border-collapse: collapse; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 35%">Office equipment</td> <td id="xdx_987_eus-gaap--PropertyPlantAndEquipmentSalvageValuePercentage_iI_pid_dp_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zY642cFF1Fra" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 65%" title="Depreciation of equipment and software straight line method">10%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Furniture and fittings</td> <td id="xdx_983_eus-gaap--PropertyPlantAndEquipmentSalvageValuePercentage_iI_pid_dp_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zt3IhITHbBri" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">10%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Renovation</td> <td id="xdx_982_eus-gaap--PropertyPlantAndEquipmentSalvageValuePercentage_iI_pid_dp_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--RenovationMember_zuOq7H57R00h" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">10%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Signboard</td> <td id="xdx_98C_eus-gaap--PropertyPlantAndEquipmentSalvageValuePercentage_iI_pid_dp_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--SignBoardMember_zrBE9XvBC3U" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">10%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Computer peripherals</td> <td id="xdx_98B_eus-gaap--PropertyPlantAndEquipmentSalvageValuePercentage_iI_pid_dp_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ComputerEquipmentMember_zdrpGOEhILOk" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">33%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Electrical installation</td> <td id="xdx_983_eus-gaap--PropertyPlantAndEquipmentSalvageValuePercentage_iI_pid_dp_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ElectricalInstallationMember_zR8ZY1YYxYB6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top" title="Depreciation of equipment and software">10%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Mobile phone</td> <td id="xdx_981_eus-gaap--PropertyPlantAndEquipmentSalvageValuePercentage_iI_pid_dp_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--MobilePhoneMember_zWAvrPHJBDTl" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top" title="Depreciation of equipment and software">33%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Motor vehicle</td> <td id="xdx_986_eus-gaap--PropertyPlantAndEquipmentSalvageValuePercentage_iI_pid_dp_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--MotorVehicleMember_zGK8OduyhCi9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top" title="Depreciation of equipment and software">20%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Air conditioners</td> <td id="xdx_987_eus-gaap--PropertyPlantAndEquipmentSalvageValuePercentage_iI_pid_dp_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AirConditionersMember_z9tPARZa9OP3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top" title="Depreciation of equipment and software">10%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Store equipment</td> <td id="xdx_981_eus-gaap--PropertyPlantAndEquipmentSalvageValuePercentage_iI_pid_dp_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember_zZz8dAaiqvo" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top" title="Depreciation of equipment and software">20%</td></tr> </table> The assets’ residual values and useful lives are reviewed, and adjusted if appropriate, at the end of each reporting period. SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">2</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Summary of significant accounting policies (Continued)</td></tr></table> (k) Equipment, net (Continued) An asset’s carrying amount is written down immediately to its recoverable amount if the asset’s carrying amount is greater than its estimated recoverable amount. Gains and losses on disposals of equipment are determined by comparing the proceeds with the carrying amount and are recognized in the consolidated statements of operations and comprehensive loss. (l) Intangible assets, net Intangible assets primarily consist of acquired computer software, developed technologies and trade names and trademarks. These intangible assets are amortized over a period of <span id="xdx_900_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20231231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--ComputerSoftwareIntangibleAssetMember_zLD5X3UER7ie" title="Intangible assets amortized period">5 years, <span id="xdx_90D_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20231231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--DevelopedTechnologyRightsMember_zxqV8MYmuYU3" title="Intangible assets amortized period">7 years and <span id="xdx_90C_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20231231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TrademarksAndTradeNamesMember_zJP8GsSrfdG5" title="Intangible assets amortized period">10 years on a straight-line basis, respectively. (m) Goodwill Goodwill represents the excess of the purchase price over the estimated fair value of net tangible and identifiable intangible assets acquired in a business combination. The Company performs goodwill impairment test on annual basis and more frequently upon the occurrence of certain events as defined by ASC 350. Goodwill is impaired when the carrying value of the reporting units exceeds its fair value. The Company first assesses qualitative factors to determine whether events or circumstances indicate that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. Based on the qualitative assessment, if it is more likely than not that the fair value of a reporting unit is less than the carrying amount, the quantitative impairment test is performed. The Company estimates the fair value of the reporting unit using a discounted cash flow approach. Significant management judgment and estimation are involved in forecasting the amount and timing of expected future cash flows and the underlying assumptions used in the discounted cash flow approach to determine the fair value of the reporting unit. As the fair values of the reporting units is not less than carrying amount, no impairment was recorded for the years ended December 31, 2023 and 2022. (n) Impairment of long-lived assets other than goodwill Long-lived assets such as equipment and software with finite lives are evaluated for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be fully recoverable or that the useful life is shorter than the Company had originally estimated. When these events occur, the Company evaluates the impairment of the long-lived assets by comparing the carrying value of the assets to an estimate of future undiscounted cash flows expected to be generated from the use of the assets and their eventual disposition. If the sum of the expected future undiscounted cash flows is less than the carrying value of the assets, the Company recognizes an impairment loss based on the excess of the carrying value of the assets over the fair value of the assets. Fair value is generally determined by discounting the cash flows expected to be generated by the assets, when the market prices are not readily available. The Company did not record any impairment of long-lived assets during the years ended December 31, 2023 and 2022. (o) Escrow Money Payable Escrow money payable arises due to the time required to initiate collection from and clear transactions through external merchants. Escrow money payable represents the money paid by merchants when e-wallet users execute mobile payment through the Company’s e-wallet mobile application, and there is a clearing period before the cash is received or settled, usually up to five business days. (p) Client money payable Client money payable relates to the Company’s e-wallet mobile application and is represented by the amounts due to e-wallet users held by the Company. Client money is maintained in the e-wallet until a transfer or withdrawal is requested by the e-wallet users. SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.5in">2</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Summary of significant accounting policies (Continued)</td></tr> </table> (q) Convertible bond The Company accounts for debt instruments with convertible features in accordance with the details and substance of the instruments at the time of their issuance. For convertible debt instruments issued at a substantial premium to equivalent instruments without conversion features, or those that may be settled in cash upon conversion, it is presumed that the premium or cash conversion option represents an equity component. Accordingly, the Company determines the carrying amounts of the liability and equity components of such convertible debt instruments by first determining the carrying amount of the liability component by measuring the fair value of a similar liability that does not have an equity component. The carrying amount of the equity component representing the embedded conversion option is then determined by deducting the fair value of the liability component from the total proceeds from the issue. The resulting equity component is recorded, with a corresponding offset to debt discount which is subsequently amortized to interest cost using the effective interest method over the period the debt is expected to be outstanding as an additional non-cash interest expense. Transaction costs associated with the instrument are allocated pro-rata between the debt and equity components. For conventional convertible bonds which do not have a cash conversion option or where no substantial premium is received on issuance, it may not be appropriate to split the bond into the liability and equity components. A conversion of the bonds at more favorable terms than the original bond is treated as an inducement and the Company recognizes a debt conversion expense equal to the fair value of all securities and other consideration transferred in the transaction in excess of the fair value of securities or consideration issuable pursuant to the original conversion terms. (r) Fair value of financial instruments ASC 820, Fair Value Measurements, provides guidance on the development and disclosure of fair value measurements. Under this accounting guidance, fair value is defined as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or a liability. The accounting guidance classifies fair value measurements in one of the following three categories for disclosure purposes: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 93%; border-collapse: collapse; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in; text-align: justify">Level 1 —</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Observable inputs such as quoted prices in active markets.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 2 —</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Inputs other than the quoted prices in active markets that are observable either directly or indirectly. These include quoted prices for similar assets and liabilities in active markets and quoted prices for identical or similar assets and liabilities in markets that are not active.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 3 —</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Unobservable inputs of which there is little or no market data, which require the Company to develop its own assumptions.</td></tr> </table> As of December 31, 2023 and 2022, the Company did not have any financial instruments that are measured at fair value. The carrying amounts of cash and cash equivalents, short-term investments, restricted cash, accounts receivable, escrow money receivable, deposit and other receivables, amounts due from/to related parties, and accruals, bank overdraft, escrow money payable, accounts payable, accruals and other payables approximate their fair values due to the short-term nature of these instruments. SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.5in">2</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Summary of significant accounting policies (Continued)</td></tr> </table> (s) Revenue recognition The Company complies with ASC 606, Revenue from Contracts with Customers. Revenue from contracts with customers is measured based on the consideration specified in a contract with a customer in exchange for transferring goods or services to a customer net of sales and service tax, returns, rebates and discounts. The Company recognizes revenue when (or as) it transfers control over a product or service to its customer. An asset is transferred when (or as) the customer obtains control of the asset. Depending on the substance of the contract, revenue is recognized when the performance obligation is satisfied, which may be at a point in time or over time. Contract assets represent the Company’s right to consideration for performance obligations that have been fulfilled but for which the customer has not been billed as of the balance sheet date. Remittance services revenue Revenue from contracts with customers on service charges and gain/loss on foreign exchange arising from remittance activities are recognized upon the processing and execution of the international money transfer transactions. Remittance services are further divided into Fiat Currency Prefunded Remittance Service and XRP Prefunded Remittance Service. Management has considered these two services to be two product lines. The customers of the remittance services are financial institutions (referred to as “Remittance Partners”). Remittance Partners who use the fiat currency prefunding option for their remittance business with the Company are referred to as Fiat Currency Prefunded Remittance Partners, whereas customers who choose the XRP Prefunding mode are referred to as XRP Prefunded Remittance Partners. Fiat Currency Prefunded Remittance Service The Company earns revenue by charging their customers a Fiat Currency Prefunded Remittance Fee when they use the Company’s platform to transfer money to a beneficiary in another country. These Fiat Currency Prefunded Remittance Fees are fixed and specific for every country’s currency and are charged at the point-in-time of executing this performance obligation. Prior to delivering cash to the customer’s beneficiary, the customer must directly provide the Company with prefunding (i.e., the cash to be remitted to the beneficiary). This is the traditional prefunding process, which the Company describes as Fiat Currency Prefunded Remittance Service. XRP Prefunded Remittance Service Unlike the Fiat Currency Prefunded Remittance Service, the customer obtains prefunding through Ripple Solution offered by Ripple Lab Inc. (see Note 21) with the XRP Prefunded Remittance Service. Ripple supplies the customer with the XRP equivalent of the requested prefunding. The Company subsequently liquidates this XRP on Ripple’s behalf, and the fiat currency obtained as a result of the liquidation process is transferred to the customer’s beneficiary. Customers who prefund their remittance service with XRP must enter into an agreement with Ripple and undergo stringent credit checks in order to get XRP prefunding and use Ripple’s platform. The Company charges their customers an XRP Prefunded Remittance Service Fee when the money is transferred to the customer’s beneficiary. For both the XRP Prefunded and Fiat Currency Prefunded Remittance Services, the Company has no obligations to the Customer in terms of guarantees, warranties or other similar obligations. There are also no significant payment terms involved as the Company obtains their fees shortly after charging their customers. SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.5in">2</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Summary of significant accounting policies (Continued)</td></tr> </table> Sales Walletku Modern Channel Revenue from the sale of goods is recognized at the point in time when the Company satisfies its performance obligation, which is upon delivery of the goods to customer. The credit terms are typically 3-7 days. Sales of airtime Revenue from airtime sold is recognized when the relevant international airtime transfer or reload request is processed and executed. Other services Revenue from contracts with customers on other services is recognized as and when services are rendered. (t) Cost of revenue Costs of revenues consist primarily of agency handling fees, top-up service fees paid to convenience stores, handling charges to banks and credit card providers, amortization of the intangible assets of acquired computer software, developed technologies, cost of digital - pulses, data packages, game vouchers, bill payment, SIM Cards (starter pack) and airtime balance. (u) Advertising and Promotion Costs Advertising and promotion costs are expensed when incurred and are included in general and administrative expenses. The total amount of advertising and promotion costs recognized were US$784,818 and US$618,661 for the years ended December 31, 2023 and 2022, respectively. (v) Leases According to ASC 842, Leases, lessees are required to record a right-of-use asset and lease liabilities for operating leases. At the lease commencement date, a lessee should measure and record the lease liability equal to the present value of scheduled lease payments discounted using the rate implicit in the lease or the lessee’s incremental borrowing rate, and the right-of-use asset is calculated on the basis of the initial measurement of the lease liability, plus any lease payments at or before the commencement date and direct costs, minus any incentives received. Over the lease term, a lessee must amortize the right-of-use asset and record interest expense on the lease liability. The recognition and classification of lease expenses depend on the classification of the lease as either operating or finance. The Company has elected the practical expedient of the short-term lease exemption for contracts with lease terms of 12 months or less. (w) Employee benefit expenses The Company’s costs related to the staff retirement plans (see Note 16) are charged to the consolidated statements of operations and comprehensive loss as incurred. SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.5in">2</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Summary of significant accounting policies (Continued)</td></tr> </table> (x) Income tax Income taxes are recorded in accordance with ASC 740, Income Taxes, which provides for deferred taxes using an asset and liability approach. The Company recognizes deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the consolidated financial statements or its tax returns. Deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Valuation allowances are provided, if based upon the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized in the foreseeable future. When uncertain tax positions exist, the Company recognizes the tax benefit of tax positions to the extent that the benefit would more likely than not be realized assuming examination by the taxing authority. The determination as to whether the tax benefit will more likely than not be realized is based upon the technical merits of the tax position as well as consideration of the available facts and circumstances. The accounting guidance on accounting for uncertainty in income taxes also addresses derecognition, classification, interest and penalties on income taxes, and accounting in interim periods. Interest and penalties from tax assessments, if any, are included in income taxes in the statements of operations and comprehensive loss. The Company believes it does not have any uncertain tax positions through the years ended December 31, 2023 and 2022, respectively, which would have a material impact on the Company’s consolidated financial statements. (y) Earnings per share Basic earnings per share is calculated by dividing the net income or loss by the weighted average number of common shares outstanding for the period, without consideration of potentially dilutive securities. Diluted net earnings per share is calculated by dividing the net income or loss by the weighted average number of common shares and potentially dilutive securities outstanding for the period. If there is a loss, potentially dilutive securities are not considered, as they would be anti-dilutive.. As of December 31, 2023 and 2022, the outstanding balances of US$10,000,000 and US$10,000,000, respectively, on the convertible bonds were anti-dilutive. The convertible bonds are convertible into <span id="xdx_907_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20230101__20231231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--ConvertibleDebtSecuritiesMember_zVreFaCflhJl" title="Convertible shares">1,532,798 and <span id="xdx_902_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20220101__20221231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--ConvertibleDebtSecuritiesMember_zptS4CiupXZ1" title="Convertible shares">1,532,798 shares of the Company as of December 31, 2023 and 2022, respectively. SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.5in">2</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Summary of Significant Accounting Policies (Continued)</td></tr> </table> (z) Segments As the chief operating decision-maker (“CODM”) of the Company, the Chief Executive Officer reviews the financial results when making decisions about allocating resources and assessing the performance of the Company. TNG (Asia) Limited (“TNGA”), the Tranglo Sdn BHD and related subsidiaries (“Tranglo”), GEA Limited and GEA Pte Ltd. (“GEA”) and PT Walletku Indompet Indonesia (“Walletku”) are all considered operating segments. These have been aggregated into two reportable segments, which are remittance services and sales of airtime, as described in Note 18. Other services are not assigned to a specific reportable segment as their results of operations are immaterial. The remittance segment is operated through TNGA, GEA and Tranglo. TNGA and GEA are in the retail remittance business in Hong Kong, which is in the upstream segment of the remittance business, whereas Tranglo operates the remittance hub covering Southeast Asia and globally, and is thus in the downstream segment of the remittance business. Management operates, monitors and evaluates the whole remittance business through these three subsidiaries so as to generate the maximum synergy and create maximum value for the Company. The Company operates the airtime segment via its international airtime transfer business through Tranglo and its retail airtime trading business locally in Indonesian through WalletKu. As with the remittance segment, management believes maximum synergy and business value can best be achieved by aggregating and managing the airtime business through these two subsidiaries. (aa) Share capital The Company has only one class of common shares authorized, issued and outstanding. (bb) Related parties Entities are considered to be related to the Company if the parties, directly or indirectly, through one or more intermediaries, control, are controlled by, or are under common control with the Company. Related parties also include principal owners of the Company, its management, members of the immediate families of principal owners of the Company and its management and other parties with which the Company may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests. (cc) Concentrations of credit risk The Company is potentially subject to significant concentration of credit risk arising primarily from cash and cash equivalents, short-term investments, restricted cash, escrow money receivable, deposits, other receivables and amounts due from related parties. As of December 31, 2023, a majority of the Company’s cash and cash equivalents and short-term investments were held at reputable financial institutions with high-credit ratings. In the event of bankruptcy of one of these financial institutions, the Company may not be able to claim its cash and demand deposits back in full, as these deposits are not insured. The Company continues to monitor the financial strength of the financial institutions. The Company’s major concentration of credit risk relates to the amounts owing by four customers (2022: four customers) which constituted approximately <span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zMvF4i0twsG3">53% (2022: <span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20221231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zgJfjRwhh0za">71%) of its accounts receivable as of December 31, 2023. The Company has not experienced any losses on its cash and cash equivalents, short-term investments, deposits, other receivables and amounts due from related parties during the year ended December 31, 2023 and 2022 and believes its credit risk to be minimal. The Company does not require collateral or other security to support instruments subject to credit risk. SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (dd) Share-based compensation The Company accounts for share-based payments in accordance with ASC Topic 718 “Compensation – Stock Compensation” (“ASC 718”), under which the fair value of awards issued to employees is expensed over the period in which the awards vest. The Company had an incentive plan approved and adopted on September 13, 2018, namely the 2018 Equity Incentive Plan. Under the 2018 Equity Incentive Plan, a total of <span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20180913__20180913__us-gaap--PlanNameAxis__custom--TwoThousandEighteenEquityIncentivePlanMember_ziTsgOuWOUR3">2,591,543 restricted stock units (“RSUs”) and <span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20180913__20180913__us-gaap--PlanNameAxis__custom--TwoThousandEighteenEquityIncentivePlanMember_zOCwOfP6qIyh">978,397 options with an exercise price of $<span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iI_pid_c20180913__us-gaap--PlanNameAxis__custom--TwoThousandEighteenEquityIncentivePlanMember_z558FCLkmyy3">12.87 had been awarded to certain directors and employees. All RSUs and options granted under the 2018 Incentive Plan had not been vested. The 2018 Incentive Plan was later terminated on July 29, 2022 and replaced by the new 2022 Incentive Plan. All previous awarded RSUs and options under the 2018 Incentive Plan were voided. Under the 2022 Incentive Plan, a total of <span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOther_pid_c20220729__20220729__us-gaap--PlanNameAxis__custom--TwoThousandTwentyTwoEquityIncentivePlanMember_zYY9oeS3FuRi">5,803,000 shares are reserved and granted to employees of the Company. All shares granted under the 2022 Incentive Plan will be vested upon (i) the completion of an IPO or (ii) the completion of a de SPAC merger. The Incentive shares will then be vested under a trust. The trustee will distribute the vested shares to the staff based on a schedule of (i) one third immediately upon the vesting of Incentive shares at the time of completion of IPO or de SPAC, (ii) one third on the first anniversary date thereafter, (iii) one third on the second anniversary date thereafter. <p id="xdx_89A_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_zbvtUjnuTXe1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 37.8pt; text-align: justify">The Company estimates the fair value of awards using a binomial pricing model. The Company accounts forfeitures as they occur. For the awards granted on July 29, 2022, the following assumptions were used in the model: SCHEDULE OF FAIR ASSUMPTIONS OF AWARDS GRANTED Expected Volatility (<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEZBSVIgQVNTVU1QVElPTlMgT0YgQVdBUkRTIEdSQU5URUQgKERldGFpbHMpAA__" id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum_pid_dp_uPure_c20230101__20231231_zpjgrfoWSRq1" title="Expected Volatility, Minimum">39.84% to <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEZBSVIgQVNTVU1QVElPTlMgT0YgQVdBUkRTIEdSQU5URUQgKERldGFpbHMpAA__" id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum_pid_dp_uPure_c20230101__20231231_zLozYwwJVEQj" title="Expected Volatility, Maximum">43.74%) Expected Dividend Yield (<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEZBSVIgQVNTVU1QVElPTlMgT0YgQVdBUkRTIEdSQU5URUQgKERldGFpbHMpAA__" id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pid_dp_uPure_c20230101__20231231_zXnOpBG855qb" title="Expected Dividend Yield">0%) Expected Time to Liquidity (<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEZBSVIgQVNTVU1QVElPTlMgT0YgQVdBUkRTIEdSQU5URUQgKERldGFpbHMpAA__" id="xdx_90C_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20230101__20231231__srt--RangeAxis__srt--MinimumMember_zRCxpc3NLmth" title="Expected Time to Liquidity">0.92 years to <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEZBSVIgQVNTVU1QVElPTlMgT0YgQVdBUkRTIEdSQU5URUQgKERldGFpbHMpAA__" id="xdx_902_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20230101__20231231__srt--RangeAxis__srt--MaximumMember_zbYBSl0noKr8" title="Expected Time to Liquidity">2.92 years) Exercise Price ($<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEZBSVIgQVNTVU1QVElPTlMgT0YgQVdBUkRTIEdSQU5URUQgKERldGFpbHMpAA__" id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice_iI_dxL_c20231231_zZ0tzbRgYaqk" title="Exercise Price::XDX::-">Nil) Stock price at grant date ($<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEZBSVIgQVNTVU1QVElPTlMgT0YgQVdBUkRTIEdSQU5URUQgKERldGFpbHMpAA__" id="xdx_90F_eus-gaap--SharePrice_iI_c20231231_zfdQEFuKze5j" title="Stock price at grant date">6.55) Weighted Average Fair Value of 1 Share ($<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEZBSVIgQVNTVU1QVElPTlMgT0YgQVdBUkRTIEdSQU5URUQgKERldGFpbHMpAA__" id="xdx_90E_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageFairValuePrice_iI_c20231231_z2olgTPw8AX6" title="Weighted Average Fair Value">5.73) The fair value of the awards granted on July 29, 2022 is $32,790,450, after accounting for the forfeiture of 77,261 shares as of December 31, 2023. This also represents the unrecognized compensation, as the performance condition of the completion of an IPO or de-SPAC is not within the Company’s control. (ee) Other income and expenses The Company accounts for gain or loss from exchange differences in other income and expenses. (ff) Business combination The Company accounts for business combinations using the acquisition method of accounting in accordance with FASB ASC Topic 805, “Business Combinations”. Acquisition method accounting requires that the consideration transferred be allocated to the assets, including separately identifiable assets, and liabilities the Company acquired, based on their estimated fair values. The consideration transferred in an acquisition is measured as the aggregate of the fair values at the date of exchange of the assets given, liabilities incurred, and equity instruments issued as well as the contingent considerations and all contractual contingencies as of the acquisition date. The costs directly attributable to the acquisition are expensed as incurred. Identifiable assets, liabilities and contingent liabilities acquired or assumed are measured separately at their fair value as of the acquisition date, irrespective of the extent of any noncontrolling interests. The excess of (i) the total cost of acquisition, fair value of the noncontrolling interests and acquisition date fair value of any previously held equity interest in the acquiree over (ii) the fair value of the identifiable net assets of the acquiree, is recorded as goodwill. If the cost of acquisition is less than the fair value of the net assets of the subsidiary acquired, the difference is recognized directly in the Statement of Operations and Comprehensive Loss. SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">2</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Summary of Significant Accounting Policies (Continued)</td></tr></table> (gg) Prefunding to remittances partner Prefunding to remittance partner represents deposits made with such a partner for remittance services to be rendered by the partner in the future. The prepayments are utilized when a remittance order is executed by the partner and the resulting amount of the order is deducted from the balance with the partner. We allow our remittance partners to prefund their balance through cryptocurrencies. These cryptocurrencies are mainly XRP. Ripple provides the XRP upon request to the Company and our remittance partners. Under applicable accounting standards, we are an agent when facilitating cryptocurrency transactions on behalf of our customers. These cryptocurrencies are held under a bailment arrangement in an account in the Company’s name on behalf of our business partner but they are not Seamless’s assets and therefore, are not reflected as cryptocurrency assets on our consolidated balance sheets . Although the Company does not control the XRP in the bailment account, we are responsible for safeguarding the XRP in the bailment account. Independent Reserve SG Pte Ltd (“Independent Reserve”), Philippine Digital Asset Exchange (“Pdax”), Betur, Inc. (“Coins.ph”) and Bitstamp Global Limited (“Bitstamp”) (collectively, the “Cryptocurrency Exchanges”) are centralized crypto exchanges which keep the cryptographic keys for each respective XRP wallet and provide the Company with its respective API access keys. The Company is the only party that holds the API access keys that grant it direct access to its XRP wallet maintained on the respective Cryptocurrency Exchange. The Cryptocurrency Exchanges maintain records of all assets deposited by its users and send statements to the Company. The Company reconciles its internal ODL transaction records to the statements received from the Cryptocurrency Exchanges to ensure that these are accurate. The Company has an obligation to protect the API access keys from being abused or stolen. The Company is responsible for any damages caused by loss or theft. Due to the unique risks associated with cryptocurrencies, including technological, legal, and regulatory risks, in accordance with Staff Accounting Bulletin No. 121 (“SAB 121”), we recognize a crypto asset safeguarding liability to reflect our obligation to safeguard the crypto assets held in the bailment account, which is recorded in Accounts payable, accruals and other payables on our consolidated balance sheet. We also recognize a corresponding safeguarding asset which is recorded in Prepayments, receivables and other assets on our consolidated balance sheet. The crypto asset safeguarding liability and corresponding safeguarding asset are measured and recorded at fair value on a recurring basis using prices available in the market we determine to be the principal market at the balance sheet date. The corresponding safeguarding asset may be adjusted for loss events, as applicable. As of December 31, 2023, the Company has not incurred any safeguarding loss events, and therefore, the crypto asset safeguarding liability and corresponding safeguarding asset were recorded at the same value. Safeguarding assets as of December 31, 2023 and 2022 are $1,983,116 and $5,787,354 respectively. Safeguarding liabilities as of December 31, 2023 and 2022 are $1,983,116 and $5,787,354 respectively. (hh) Recent accounting pronouncements In March 2022, the SEC released SAB 121, which provides guidance for an entity to consider when it has obligations to safeguard customers’ crypto assets, whether directly or through an agent or another third party acting on its behalf. The interpretive guidance requires a reporting entity to record a liability to reflect its obligation to safeguard the crypto assets held for its platform users with a corresponding safeguarding asset. The crypto asset safeguarding liability and the corresponding safeguarding asset will be measured at the fair value of the crypto assets held for the platform users with the measurement of the safeguarding asset taking into account any potential loss events. SAB 121 also requires disclosures related to the entity’s safeguarding obligations for crypto assets held for its platform users. SAB 121 was effective in the first interim or annual financial statements ending after June 15, 2022 with retrospective application as of the beginning of the fiscal year. We adopted this guidance for the year ended December 31, 2022 with retrospective application as of January 1, 2021. As of December 31, 2023 and 2022, we recorded $2.0 million and $5.8 million, respectively, for both the crypto asset safeguarding liability and corresponding safeguarding asset, which were classified as accounts payable, accruals and other payables and prepayments, receivables and other assets, respectively, on our consolidated balance sheets. In March 2022, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2022-02, “Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures” (“ASU 2022-02”). The amendments in this ASU eliminate the accounting guidance for troubled debt restructurings (“TDRs”) by creditors in Subtopic 310-40, while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. The amendments are effective for the Company beginning after December 15, 2022. As of the year ended December 31, 2023, the Company does not consider the changes prescribed in ASU 2022-02 to have a material impact on its consolidated financial position, results of operations or cash flows. In October 2021, the FASB issued ASU No. 2021-08, “‘Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers” (“ASU 2021-08”). This ASU requires entities to apply Topic 606 to recognize and measure contract assets and contract liabilities in a business combination. The amendments improve comparability after the business combination by providing consistent recognition and measurement guidance for revenue contracts with customers acquired in a business combination and revenue contracts with customers not acquired in a business combination. The amendments are effective for the Company beginning after December 15, 2022, and are applied prospectively to business combinations that occur after the effective date. As of the year ended December 31, 2023, the Company does not consider these amendments to have a material impact to the financial statements. In August 2020, the FASB issued ASU 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity, which simplifies an issuer’s accounting for convertible instruments by reducing the number of accounting models that require separate accounting for embedded conversion features. ASU 2020-06 also simplifies the settlement assessment that entities are required to perform to determine whether a contract qualifies for equity classification. Further, ASU 2020-06 enhances information transparency by making targeted improvements to the disclosures for convertible instruments and earnings-per-share (EPS) guidance, i.e., aligning the diluted EPS calculation for convertible instruments by requiring that an entity use the if-converted method and that the effect of potential share settlement be included in the diluted EPS calculation when an instrument may be settled in cash or shares, adding information about events or conditions that occur during the reporting period that cause conversion contingencies to be met or conversion terms to be significantly changed. The Company meets the “emerging growth company” as defined in the Jumpstart Our Business Startups Act of 2012, and is therefore eligible to take advantage of certain reduced reporting requirements otherwise applicable to other public companies. For private companies, it’s effective for fiscal years beginning after December 15, 2023. The Company has chosen not to early adopt the new standard before the effective date.

(a) Basis of presentation and principles of consolidation The accompanying consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and include the accounts of Seamless Group Inc. and its majority-owned subsidiaries. Non-controlling interest is recorded in the consolidated financial statements to recognize the minority ownership interest in the consolidated subsidiaries. Non-controlling interest in the profits and losses represent the share of net income or loss allocated to the minority interest holders of the consolidated subsidiaries. All intercompany transactions and balances have been eliminated in these consolidated financial statements.

(b) Going concern The accompanying audited consolidated financial statements have been prepared using the going concern basis of accounting, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As of December 31, 2023, the Company had cash balances of $48.5 million, a working capital deficit of $70.5 million and net capital deficit of $36.2 million. For the year ended December 31, 2023, the Company had a net loss of $14.4 million and net cash used in operating activities of $15.3 million. Net cash provided by investing activities was $1.4 million. Net cash used in financing activities was $1.2 million, resulting principally from repayment of borrowings. While the Company believes that it will be able to continue to grow the Company’s revenue base and control expenditures, there is no assurance that it will be able to achieve these goals. As a result, the Company continually monitors its capital structure and operating plans and evaluates various potential funding alternatives that may be needed to finance the Company’s business development activities, general and administrative expenses and growth strategy.

48500000

70500000 36200000

-14400000

-15300000

1400000

-1200000

(c) Use of estimates The preparation of the accompanying consolidated financial statements in conformity with GAAP requires management to make estimates, assumptions and judgments that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting periods. Certain accounting estimates of the Company require a higher degree of judgment than others in their application. These include valuation of goodwill, provision for credit losses, impairment of long-lived assets, impairment of investments in subsidiaries and equity investee, valuation of convertible bonds and income tax. Management bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results may differ from these estimates, and such differences may be material. SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.5in">2</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Summary of significant accounting policies (Continued)</td></tr> </table>

(d) Foreign currency Foreign subsidiaries have designated the local currency of their respective countries as their functional currency. Transactions denominated in foreign currencies are re-measured into the functional currency at the exchange rates prevailing on the transaction dates. Monetary assets and liabilities denominated in foreign currencies are re-measured at the exchange rates prevailing at the balance sheet date. Exchange gains and losses are included in the consolidated statements of operations and comprehensive loss. Non-monetary items are not subsequently re-measured. The Company uses the average exchange rate for the year and the exchange rate at the balance sheet date to translate the operating results and financial position, respectively, from the functional currency into the US$. Translation differences are recorded in accumulated other comprehensive loss, a component of shareholders’ equity.

(e) Cash and cash equivalents Cash and cash equivalents consist of cash on hand and highly liquid investments which are unrestricted as to withdrawal or use and with original maturities of three months or less when purchased.

(f) Short-term investments Short-term investments include fixed deposits with original maturities of greater than three months but less than one year. (g) Restricted cash Restricted cash includes the balance in the Company’s e-wallet mobile application held by the Company on behalf of the individual e-wallet users. It is the Company’s policy to maintain approximately 110% of the amount deposited in case of immediate cash withdrawal by e-wallet users. It also includes fixed deposits pledged to the banks as security for banking facilities granted to the Company.

(h) Accounts receivable Accounts receivable represents the amounts that the Company has an unconditional right to receive. The Company complies with Accounting Standards Codification (“ASC”) 326, which employs an approach based on expected losses to estimate the allowance for doubtful accounts. To measure the expected credit losses, accounts receivable has been grouped based on shared credit risk characteristics and the days past due. For certain large customers or customers with a high risk of default, the Company assesses the risk of loss of each customer individually based on their financial information, past trends of payments and, where applicable, an external credit rating. Also, the Company considers any accounts receivable having financial difficulty or in default with significant balances outstanding for more than 60 days to be credit-impaired, and assesses the risk of loss for each of these accounts individually. The expected loss rates are based on the payment profiles of sales over a period of 12 months from the measurement date and the corresponding historical credit losses experienced within this period. The historical loss rates are adjusted to reflect current and forward-looking information on macroeconomic factors affecting the ability of the customers to settle their debts. The Company has recorded a credit loss of US$187,462 and US$117,195 as of December 31, 2023 and 2022, respectively. SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.5in">2</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Summary of significant accounting policies (Continued)</td></tr> </table>

187462

117195

(i) Escrow money receivable Escrow money receivable arises due to the time required to initiate collection from and clear transactions through external merchants. Escrow money receivable represents the money collected by merchants when e-wallet users fund mobile payments through the Company’s e-wallet mobile application, and there is a clearing period before the cash is received or settled, usually up to five business days. Escrow money receivables are recognized initially at the amount of consideration that is unconditional unless they contain significant financing components, when they are recognized at fair value. The Company holds the escrow money receivables with the object to collect the contractual cash flows and therefore measures them subsequently at amortized cost using the effective interest method.

(j) Investment in an equity security The Company elected to record the equity investment in a privately held company using the measurement alternative at cost, less impairment, with subsequent adjustments for observable price changes resulting from orderly transactions for identical or similar investments of the same issuer. It is subject to periodic impairment reviews. The Company’s impairment analysis considers both qualitative and quantitative factors that may have a significant effect on the fair value of the equity security.

(k) Equipment, net Equipment, net is stated at historical cost less accumulated depreciation and accumulated impairment losses, if any. Historical cost includes expenditures that are directly attributable to the acquisitions of the fixed assets. Subsequent costs are included in the asset’s carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Company and the cost of the item can be measured reliably. The carrying amount of any component accounted for as a separate asset is derecognized when replaced. All other repairs and maintenance are charged to the consolidated statements of operations and comprehensive loss during the year in which they are incurred. Depreciation of equipment is calculated using the straight-line method with no residual values over their estimated useful lives, as follows: SCHEDULE OF DEPRECIATION OF EQUIPMENT AND SOFTWARE STRAIGHT LINE METHOD <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 93%; border-collapse: collapse; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 35%">Office equipment</td> <td id="xdx_987_eus-gaap--PropertyPlantAndEquipmentSalvageValuePercentage_iI_pid_dp_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zY642cFF1Fra" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 65%" title="Depreciation of equipment and software straight line method">10%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Furniture and fittings</td> <td id="xdx_983_eus-gaap--PropertyPlantAndEquipmentSalvageValuePercentage_iI_pid_dp_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zt3IhITHbBri" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">10%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Renovation</td> <td id="xdx_982_eus-gaap--PropertyPlantAndEquipmentSalvageValuePercentage_iI_pid_dp_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--RenovationMember_zuOq7H57R00h" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">10%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Signboard</td> <td id="xdx_98C_eus-gaap--PropertyPlantAndEquipmentSalvageValuePercentage_iI_pid_dp_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--SignBoardMember_zrBE9XvBC3U" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">10%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Computer peripherals</td> <td id="xdx_98B_eus-gaap--PropertyPlantAndEquipmentSalvageValuePercentage_iI_pid_dp_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ComputerEquipmentMember_zdrpGOEhILOk" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">33%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Electrical installation</td> <td id="xdx_983_eus-gaap--PropertyPlantAndEquipmentSalvageValuePercentage_iI_pid_dp_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ElectricalInstallationMember_zR8ZY1YYxYB6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top" title="Depreciation of equipment and software">10%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Mobile phone</td> <td id="xdx_981_eus-gaap--PropertyPlantAndEquipmentSalvageValuePercentage_iI_pid_dp_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--MobilePhoneMember_zWAvrPHJBDTl" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top" title="Depreciation of equipment and software">33%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Motor vehicle</td> <td id="xdx_986_eus-gaap--PropertyPlantAndEquipmentSalvageValuePercentage_iI_pid_dp_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--MotorVehicleMember_zGK8OduyhCi9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top" title="Depreciation of equipment and software">20%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Air conditioners</td> <td id="xdx_987_eus-gaap--PropertyPlantAndEquipmentSalvageValuePercentage_iI_pid_dp_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AirConditionersMember_z9tPARZa9OP3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top" title="Depreciation of equipment and software">10%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Store equipment</td> <td id="xdx_981_eus-gaap--PropertyPlantAndEquipmentSalvageValuePercentage_iI_pid_dp_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember_zZz8dAaiqvo" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top" title="Depreciation of equipment and software">20%</td></tr> </table> The assets’ residual values and useful lives are reviewed, and adjusted if appropriate, at the end of each reporting period. SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">2</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Summary of significant accounting policies (Continued)</td></tr></table> (k) Equipment, net (Continued) An asset’s carrying amount is written down immediately to its recoverable amount if the asset’s carrying amount is greater than its estimated recoverable amount. Gains and losses on disposals of equipment are determined by comparing the proceeds with the carrying amount and are recognized in the consolidated statements of operations and comprehensive loss.

Depreciation of equipment is calculated using the straight-line method with no residual values over their estimated useful lives, as follows: SCHEDULE OF DEPRECIATION OF EQUIPMENT AND SOFTWARE STRAIGHT LINE METHOD <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 93%; border-collapse: collapse; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 35%">Office equipment</td> <td id="xdx_987_eus-gaap--PropertyPlantAndEquipmentSalvageValuePercentage_iI_pid_dp_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zY642cFF1Fra" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 65%" title="Depreciation of equipment and software straight line method">10%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Furniture and fittings</td> <td id="xdx_983_eus-gaap--PropertyPlantAndEquipmentSalvageValuePercentage_iI_pid_dp_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zt3IhITHbBri" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">10%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Renovation</td> <td id="xdx_982_eus-gaap--PropertyPlantAndEquipmentSalvageValuePercentage_iI_pid_dp_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--RenovationMember_zuOq7H57R00h" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">10%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Signboard</td> <td id="xdx_98C_eus-gaap--PropertyPlantAndEquipmentSalvageValuePercentage_iI_pid_dp_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--SignBoardMember_zrBE9XvBC3U" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">10%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Computer peripherals</td> <td id="xdx_98B_eus-gaap--PropertyPlantAndEquipmentSalvageValuePercentage_iI_pid_dp_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ComputerEquipmentMember_zdrpGOEhILOk" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">33%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Electrical installation</td> <td id="xdx_983_eus-gaap--PropertyPlantAndEquipmentSalvageValuePercentage_iI_pid_dp_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ElectricalInstallationMember_zR8ZY1YYxYB6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top" title="Depreciation of equipment and software">10%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Mobile phone</td> <td id="xdx_981_eus-gaap--PropertyPlantAndEquipmentSalvageValuePercentage_iI_pid_dp_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--MobilePhoneMember_zWAvrPHJBDTl" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top" title="Depreciation of equipment and software">33%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Motor vehicle</td> <td id="xdx_986_eus-gaap--PropertyPlantAndEquipmentSalvageValuePercentage_iI_pid_dp_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--MotorVehicleMember_zGK8OduyhCi9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top" title="Depreciation of equipment and software">20%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Air conditioners</td> <td id="xdx_987_eus-gaap--PropertyPlantAndEquipmentSalvageValuePercentage_iI_pid_dp_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AirConditionersMember_z9tPARZa9OP3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top" title="Depreciation of equipment and software">10%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Store equipment</td> <td id="xdx_981_eus-gaap--PropertyPlantAndEquipmentSalvageValuePercentage_iI_pid_dp_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember_zZz8dAaiqvo" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top" title="Depreciation of equipment and software">20%</td></tr> </table>

0.10

0.33

0.10

0.33

0.20

0.10

0.20

(l) Intangible assets, net Intangible assets primarily consist of acquired computer software, developed technologies and trade names and trademarks. These intangible assets are amortized over a period of <span id="xdx_900_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20231231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--ComputerSoftwareIntangibleAssetMember_zLD5X3UER7ie" title="Intangible assets amortized period">5 years, <span id="xdx_90D_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20231231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--DevelopedTechnologyRightsMember_zxqV8MYmuYU3" title="Intangible assets amortized period">7 years and <span id="xdx_90C_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20231231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TrademarksAndTradeNamesMember_zJP8GsSrfdG5" title="Intangible assets amortized period">10 years on a straight-line basis, respectively.

P5Y

P7Y

P10Y

(m) Goodwill Goodwill represents the excess of the purchase price over the estimated fair value of net tangible and identifiable intangible assets acquired in a business combination. The Company performs goodwill impairment test on annual basis and more frequently upon the occurrence of certain events as defined by ASC 350. Goodwill is impaired when the carrying value of the reporting units exceeds its fair value. The Company first assesses qualitative factors to determine whether events or circumstances indicate that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. Based on the qualitative assessment, if it is more likely than not that the fair value of a reporting unit is less than the carrying amount, the quantitative impairment test is performed. The Company estimates the fair value of the reporting unit using a discounted cash flow approach. Significant management judgment and estimation are involved in forecasting the amount and timing of expected future cash flows and the underlying assumptions used in the discounted cash flow approach to determine the fair value of the reporting unit. As the fair values of the reporting units is not less than carrying amount, no impairment was recorded for the years ended December 31, 2023 and 2022.

(n) Impairment of long-lived assets other than goodwill Long-lived assets such as equipment and software with finite lives are evaluated for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be fully recoverable or that the useful life is shorter than the Company had originally estimated. When these events occur, the Company evaluates the impairment of the long-lived assets by comparing the carrying value of the assets to an estimate of future undiscounted cash flows expected to be generated from the use of the assets and their eventual disposition. If the sum of the expected future undiscounted cash flows is less than the carrying value of the assets, the Company recognizes an impairment loss based on the excess of the carrying value of the assets over the fair value of the assets. Fair value is generally determined by discounting the cash flows expected to be generated by the assets, when the market prices are not readily available. The Company did not record any impairment of long-lived assets during the years ended December 31, 2023 and 2022.

(o) Escrow Money Payable Escrow money payable arises due to the time required to initiate collection from and clear transactions through external merchants. Escrow money payable represents the money paid by merchants when e-wallet users execute mobile payment through the Company’s e-wallet mobile application, and there is a clearing period before the cash is received or settled, usually up to five business days. (p) Client money payable Client money payable relates to the Company’s e-wallet mobile application and is represented by the amounts due to e-wallet users held by the Company. Client money is maintained in the e-wallet until a transfer or withdrawal is requested by the e-wallet users. SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.5in">2</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Summary of significant accounting policies (Continued)</td></tr> </table> (q) Convertible bond The Company accounts for debt instruments with convertible features in accordance with the details and substance of the instruments at the time of their issuance. For convertible debt instruments issued at a substantial premium to equivalent instruments without conversion features, or those that may be settled in cash upon conversion, it is presumed that the premium or cash conversion option represents an equity component. Accordingly, the Company determines the carrying amounts of the liability and equity components of such convertible debt instruments by first determining the carrying amount of the liability component by measuring the fair value of a similar liability that does not have an equity component. The carrying amount of the equity component representing the embedded conversion option is then determined by deducting the fair value of the liability component from the total proceeds from the issue. The resulting equity component is recorded, with a corresponding offset to debt discount which is subsequently amortized to interest cost using the effective interest method over the period the debt is expected to be outstanding as an additional non-cash interest expense. Transaction costs associated with the instrument are allocated pro-rata between the debt and equity components. For conventional convertible bonds which do not have a cash conversion option or where no substantial premium is received on issuance, it may not be appropriate to split the bond into the liability and equity components. A conversion of the bonds at more favorable terms than the original bond is treated as an inducement and the Company recognizes a debt conversion expense equal to the fair value of all securities and other consideration transferred in the transaction in excess of the fair value of securities or consideration issuable pursuant to the original conversion terms.

(r) Fair value of financial instruments ASC 820, Fair Value Measurements, provides guidance on the development and disclosure of fair value measurements. Under this accounting guidance, fair value is defined as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or a liability. The accounting guidance classifies fair value measurements in one of the following three categories for disclosure purposes: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 93%; border-collapse: collapse; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in; text-align: justify">Level 1 —</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Observable inputs such as quoted prices in active markets.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 2 —</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Inputs other than the quoted prices in active markets that are observable either directly or indirectly. These include quoted prices for similar assets and liabilities in active markets and quoted prices for identical or similar assets and liabilities in markets that are not active.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 3 —</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Unobservable inputs of which there is little or no market data, which require the Company to develop its own assumptions.</td></tr> </table> As of December 31, 2023 and 2022, the Company did not have any financial instruments that are measured at fair value. The carrying amounts of cash and cash equivalents, short-term investments, restricted cash, accounts receivable, escrow money receivable, deposit and other receivables, amounts due from/to related parties, and accruals, bank overdraft, escrow money payable, accounts payable, accruals and other payables approximate their fair values due to the short-term nature of these instruments. SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.5in">2</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Summary of significant accounting policies (Continued)</td></tr> </table>

(s) Revenue recognition The Company complies with ASC 606, Revenue from Contracts with Customers. Revenue from contracts with customers is measured based on the consideration specified in a contract with a customer in exchange for transferring goods or services to a customer net of sales and service tax, returns, rebates and discounts. The Company recognizes revenue when (or as) it transfers control over a product or service to its customer. An asset is transferred when (or as) the customer obtains control of the asset. Depending on the substance of the contract, revenue is recognized when the performance obligation is satisfied, which may be at a point in time or over time. Contract assets represent the Company’s right to consideration for performance obligations that have been fulfilled but for which the customer has not been billed as of the balance sheet date. Remittance services revenue Revenue from contracts with customers on service charges and gain/loss on foreign exchange arising from remittance activities are recognized upon the processing and execution of the international money transfer transactions. Remittance services are further divided into Fiat Currency Prefunded Remittance Service and XRP Prefunded Remittance Service. Management has considered these two services to be two product lines. The customers of the remittance services are financial institutions (referred to as “Remittance Partners”). Remittance Partners who use the fiat currency prefunding option for their remittance business with the Company are referred to as Fiat Currency Prefunded Remittance Partners, whereas customers who choose the XRP Prefunding mode are referred to as XRP Prefunded Remittance Partners. Fiat Currency Prefunded Remittance Service The Company earns revenue by charging their customers a Fiat Currency Prefunded Remittance Fee when they use the Company’s platform to transfer money to a beneficiary in another country. These Fiat Currency Prefunded Remittance Fees are fixed and specific for every country’s currency and are charged at the point-in-time of executing this performance obligation. Prior to delivering cash to the customer’s beneficiary, the customer must directly provide the Company with prefunding (i.e., the cash to be remitted to the beneficiary). This is the traditional prefunding process, which the Company describes as Fiat Currency Prefunded Remittance Service. XRP Prefunded Remittance Service Unlike the Fiat Currency Prefunded Remittance Service, the customer obtains prefunding through Ripple Solution offered by Ripple Lab Inc. (see Note 21) with the XRP Prefunded Remittance Service. Ripple supplies the customer with the XRP equivalent of the requested prefunding. The Company subsequently liquidates this XRP on Ripple’s behalf, and the fiat currency obtained as a result of the liquidation process is transferred to the customer’s beneficiary. Customers who prefund their remittance service with XRP must enter into an agreement with Ripple and undergo stringent credit checks in order to get XRP prefunding and use Ripple’s platform. The Company charges their customers an XRP Prefunded Remittance Service Fee when the money is transferred to the customer’s beneficiary. For both the XRP Prefunded and Fiat Currency Prefunded Remittance Services, the Company has no obligations to the Customer in terms of guarantees, warranties or other similar obligations. There are also no significant payment terms involved as the Company obtains their fees shortly after charging their customers. SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.5in">2</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Summary of significant accounting policies (Continued)</td></tr> </table> Sales Walletku Modern Channel Revenue from the sale of goods is recognized at the point in time when the Company satisfies its performance obligation, which is upon delivery of the goods to customer. The credit terms are typically 3-7 days. Sales of airtime Revenue from airtime sold is recognized when the relevant international airtime transfer or reload request is processed and executed. Other services Revenue from contracts with customers on other services is recognized as and when services are rendered.

(t) Cost of revenue Costs of revenues consist primarily of agency handling fees, top-up service fees paid to convenience stores, handling charges to banks and credit card providers, amortization of the intangible assets of acquired computer software, developed technologies, cost of digital - pulses, data packages, game vouchers, bill payment, SIM Cards (starter pack) and airtime balance.

(u) Advertising and Promotion Costs Advertising and promotion costs are expensed when incurred and are included in general and administrative expenses. The total amount of advertising and promotion costs recognized were US$784,818 and US$618,661 for the years ended December 31, 2023 and 2022, respectively.

784818

618661

(v) Leases According to ASC 842, Leases, lessees are required to record a right-of-use asset and lease liabilities for operating leases. At the lease commencement date, a lessee should measure and record the lease liability equal to the present value of scheduled lease payments discounted using the rate implicit in the lease or the lessee’s incremental borrowing rate, and the right-of-use asset is calculated on the basis of the initial measurement of the lease liability, plus any lease payments at or before the commencement date and direct costs, minus any incentives received. Over the lease term, a lessee must amortize the right-of-use asset and record interest expense on the lease liability. The recognition and classification of lease expenses depend on the classification of the lease as either operating or finance. The Company has elected the practical expedient of the short-term lease exemption for contracts with lease terms of 12 months or less.

(w) Employee benefit expenses The Company’s costs related to the staff retirement plans (see Note 16) are charged to the consolidated statements of operations and comprehensive loss as incurred. SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.5in">2</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Summary of significant accounting policies (Continued)</td></tr> </table>

(x) Income tax Income taxes are recorded in accordance with ASC 740, Income Taxes, which provides for deferred taxes using an asset and liability approach. The Company recognizes deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the consolidated financial statements or its tax returns. Deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Valuation allowances are provided, if based upon the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized in the foreseeable future. When uncertain tax positions exist, the Company recognizes the tax benefit of tax positions to the extent that the benefit would more likely than not be realized assuming examination by the taxing authority. The determination as to whether the tax benefit will more likely than not be realized is based upon the technical merits of the tax position as well as consideration of the available facts and circumstances. The accounting guidance on accounting for uncertainty in income taxes also addresses derecognition, classification, interest and penalties on income taxes, and accounting in interim periods. Interest and penalties from tax assessments, if any, are included in income taxes in the statements of operations and comprehensive loss. The Company believes it does not have any uncertain tax positions through the years ended December 31, 2023 and 2022, respectively, which would have a material impact on the Company’s consolidated financial statements.

(y) Earnings per share Basic earnings per share is calculated by dividing the net income or loss by the weighted average number of common shares outstanding for the period, without consideration of potentially dilutive securities. Diluted net earnings per share is calculated by dividing the net income or loss by the weighted average number of common shares and potentially dilutive securities outstanding for the period. If there is a loss, potentially dilutive securities are not considered, as they would be anti-dilutive.. As of December 31, 2023 and 2022, the outstanding balances of US$10,000,000 and US$10,000,000, respectively, on the convertible bonds were anti-dilutive. The convertible bonds are convertible into <span id="xdx_907_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20230101__20231231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--ConvertibleDebtSecuritiesMember_zVreFaCflhJl" title="Convertible shares">1,532,798 and <span id="xdx_902_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20220101__20221231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--ConvertibleDebtSecuritiesMember_zptS4CiupXZ1" title="Convertible shares">1,532,798 shares of the Company as of December 31, 2023 and 2022, respectively. SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.5in">2</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Summary of Significant Accounting Policies (Continued)</td></tr> </table>

10000000

1532798

(z) Segments As the chief operating decision-maker (“CODM”) of the Company, the Chief Executive Officer reviews the financial results when making decisions about allocating resources and assessing the performance of the Company. TNG (Asia) Limited (“TNGA”), the Tranglo Sdn BHD and related subsidiaries (“Tranglo”), GEA Limited and GEA Pte Ltd. (“GEA”) and PT Walletku Indompet Indonesia (“Walletku”) are all considered operating segments. These have been aggregated into two reportable segments, which are remittance services and sales of airtime, as described in Note 18. Other services are not assigned to a specific reportable segment as their results of operations are immaterial. The remittance segment is operated through TNGA, GEA and Tranglo. TNGA and GEA are in the retail remittance business in Hong Kong, which is in the upstream segment of the remittance business, whereas Tranglo operates the remittance hub covering Southeast Asia and globally, and is thus in the downstream segment of the remittance business. Management operates, monitors and evaluates the whole remittance business through these three subsidiaries so as to generate the maximum synergy and create maximum value for the Company. The Company operates the airtime segment via its international airtime transfer business through Tranglo and its retail airtime trading business locally in Indonesian through WalletKu. As with the remittance segment, management believes maximum synergy and business value can best be achieved by aggregating and managing the airtime business through these two subsidiaries.

(aa) Share capital The Company has only one class of common shares authorized, issued and outstanding. (bb) Related parties Entities are considered to be related to the Company if the parties, directly or indirectly, through one or more intermediaries, control, are controlled by, or are under common control with the Company. Related parties also include principal owners of the Company, its management, members of the immediate families of principal owners of the Company and its management and other parties with which the Company may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests.

(cc) Concentrations of credit risk The Company is potentially subject to significant concentration of credit risk arising primarily from cash and cash equivalents, short-term investments, restricted cash, escrow money receivable, deposits, other receivables and amounts due from related parties. As of December 31, 2023, a majority of the Company’s cash and cash equivalents and short-term investments were held at reputable financial institutions with high-credit ratings. In the event of bankruptcy of one of these financial institutions, the Company may not be able to claim its cash and demand deposits back in full, as these deposits are not insured. The Company continues to monitor the financial strength of the financial institutions. The Company’s major concentration of credit risk relates to the amounts owing by four customers (2022: four customers) which constituted approximately <span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zMvF4i0twsG3">53% (2022: <span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20221231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zgJfjRwhh0za">71%) of its accounts receivable as of December 31, 2023. The Company has not experienced any losses on its cash and cash equivalents, short-term investments, deposits, other receivables and amounts due from related parties during the year ended December 31, 2023 and 2022 and believes its credit risk to be minimal. The Company does not require collateral or other security to support instruments subject to credit risk. SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

0.53

0.71

(dd) Share-based compensation The Company accounts for share-based payments in accordance with ASC Topic 718 “Compensation – Stock Compensation” (“ASC 718”), under which the fair value of awards issued to employees is expensed over the period in which the awards vest. The Company had an incentive plan approved and adopted on September 13, 2018, namely the 2018 Equity Incentive Plan. Under the 2018 Equity Incentive Plan, a total of <span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20180913__20180913__us-gaap--PlanNameAxis__custom--TwoThousandEighteenEquityIncentivePlanMember_ziTsgOuWOUR3">2,591,543 restricted stock units (“RSUs”) and <span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20180913__20180913__us-gaap--PlanNameAxis__custom--TwoThousandEighteenEquityIncentivePlanMember_zOCwOfP6qIyh">978,397 options with an exercise price of $<span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iI_pid_c20180913__us-gaap--PlanNameAxis__custom--TwoThousandEighteenEquityIncentivePlanMember_z558FCLkmyy3">12.87 had been awarded to certain directors and employees. All RSUs and options granted under the 2018 Incentive Plan had not been vested. The 2018 Incentive Plan was later terminated on July 29, 2022 and replaced by the new 2022 Incentive Plan. All previous awarded RSUs and options under the 2018 Incentive Plan were voided. Under the 2022 Incentive Plan, a total of <span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOther_pid_c20220729__20220729__us-gaap--PlanNameAxis__custom--TwoThousandTwentyTwoEquityIncentivePlanMember_zYY9oeS3FuRi">5,803,000 shares are reserved and granted to employees of the Company. All shares granted under the 2022 Incentive Plan will be vested upon (i) the completion of an IPO or (ii) the completion of a de SPAC merger. The Incentive shares will then be vested under a trust. The trustee will distribute the vested shares to the staff based on a schedule of (i) one third immediately upon the vesting of Incentive shares at the time of completion of IPO or de SPAC, (ii) one third on the first anniversary date thereafter, (iii) one third on the second anniversary date thereafter. <p id="xdx_89A_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_zbvtUjnuTXe1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 37.8pt; text-align: justify">The Company estimates the fair value of awards using a binomial pricing model. The Company accounts forfeitures as they occur. For the awards granted on July 29, 2022, the following assumptions were used in the model: SCHEDULE OF FAIR ASSUMPTIONS OF AWARDS GRANTED Expected Volatility (<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEZBSVIgQVNTVU1QVElPTlMgT0YgQVdBUkRTIEdSQU5URUQgKERldGFpbHMpAA__" id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum_pid_dp_uPure_c20230101__20231231_zpjgrfoWSRq1" title="Expected Volatility, Minimum">39.84% to <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEZBSVIgQVNTVU1QVElPTlMgT0YgQVdBUkRTIEdSQU5URUQgKERldGFpbHMpAA__" id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum_pid_dp_uPure_c20230101__20231231_zLozYwwJVEQj" title="Expected Volatility, Maximum">43.74%) Expected Dividend Yield (<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEZBSVIgQVNTVU1QVElPTlMgT0YgQVdBUkRTIEdSQU5URUQgKERldGFpbHMpAA__" id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pid_dp_uPure_c20230101__20231231_zXnOpBG855qb" title="Expected Dividend Yield">0%) Expected Time to Liquidity (<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEZBSVIgQVNTVU1QVElPTlMgT0YgQVdBUkRTIEdSQU5URUQgKERldGFpbHMpAA__" id="xdx_90C_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20230101__20231231__srt--RangeAxis__srt--MinimumMember_zRCxpc3NLmth" title="Expected Time to Liquidity">0.92 years to <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEZBSVIgQVNTVU1QVElPTlMgT0YgQVdBUkRTIEdSQU5URUQgKERldGFpbHMpAA__" id="xdx_902_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20230101__20231231__srt--RangeAxis__srt--MaximumMember_zbYBSl0noKr8" title="Expected Time to Liquidity">2.92 years) Exercise Price ($<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEZBSVIgQVNTVU1QVElPTlMgT0YgQVdBUkRTIEdSQU5URUQgKERldGFpbHMpAA__" id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice_iI_dxL_c20231231_zZ0tzbRgYaqk" title="Exercise Price::XDX::-">Nil) Stock price at grant date ($<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEZBSVIgQVNTVU1QVElPTlMgT0YgQVdBUkRTIEdSQU5URUQgKERldGFpbHMpAA__" id="xdx_90F_eus-gaap--SharePrice_iI_c20231231_zfdQEFuKze5j" title="Stock price at grant date">6.55) Weighted Average Fair Value of 1 Share ($<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEZBSVIgQVNTVU1QVElPTlMgT0YgQVdBUkRTIEdSQU5URUQgKERldGFpbHMpAA__" id="xdx_90E_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageFairValuePrice_iI_c20231231_z2olgTPw8AX6" title="Weighted Average Fair Value">5.73) The fair value of the awards granted on July 29, 2022 is $32,790,450, after accounting for the forfeiture of 77,261 shares as of December 31, 2023. This also represents the unrecognized compensation, as the performance condition of the completion of an IPO or de-SPAC is not within the Company’s control.

2591543

978397

12.87

5803000

<p id="xdx_89A_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_zbvtUjnuTXe1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 37.8pt; text-align: justify">The Company estimates the fair value of awards using a binomial pricing model. The Company accounts forfeitures as they occur. For the awards granted on July 29, 2022, the following assumptions were used in the model: SCHEDULE OF FAIR ASSUMPTIONS OF AWARDS GRANTED Expected Volatility (<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEZBSVIgQVNTVU1QVElPTlMgT0YgQVdBUkRTIEdSQU5URUQgKERldGFpbHMpAA__" id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum_pid_dp_uPure_c20230101__20231231_zpjgrfoWSRq1" title="Expected Volatility, Minimum">39.84% to <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEZBSVIgQVNTVU1QVElPTlMgT0YgQVdBUkRTIEdSQU5URUQgKERldGFpbHMpAA__" id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum_pid_dp_uPure_c20230101__20231231_zLozYwwJVEQj" title="Expected Volatility, Maximum">43.74%) Expected Dividend Yield (<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEZBSVIgQVNTVU1QVElPTlMgT0YgQVdBUkRTIEdSQU5URUQgKERldGFpbHMpAA__" id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pid_dp_uPure_c20230101__20231231_zXnOpBG855qb" title="Expected Dividend Yield">0%) Expected Time to Liquidity (<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEZBSVIgQVNTVU1QVElPTlMgT0YgQVdBUkRTIEdSQU5URUQgKERldGFpbHMpAA__" id="xdx_90C_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20230101__20231231__srt--RangeAxis__srt--MinimumMember_zRCxpc3NLmth" title="Expected Time to Liquidity">0.92 years to <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEZBSVIgQVNTVU1QVElPTlMgT0YgQVdBUkRTIEdSQU5URUQgKERldGFpbHMpAA__" id="xdx_902_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20230101__20231231__srt--RangeAxis__srt--MaximumMember_zbYBSl0noKr8" title="Expected Time to Liquidity">2.92 years) Exercise Price ($<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEZBSVIgQVNTVU1QVElPTlMgT0YgQVdBUkRTIEdSQU5URUQgKERldGFpbHMpAA__" id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice_iI_dxL_c20231231_zZ0tzbRgYaqk" title="Exercise Price::XDX::-">Nil) Stock price at grant date ($<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEZBSVIgQVNTVU1QVElPTlMgT0YgQVdBUkRTIEdSQU5URUQgKERldGFpbHMpAA__" id="xdx_90F_eus-gaap--SharePrice_iI_c20231231_zfdQEFuKze5j" title="Stock price at grant date">6.55) Weighted Average Fair Value of 1 Share ($<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEZBSVIgQVNTVU1QVElPTlMgT0YgQVdBUkRTIEdSQU5URUQgKERldGFpbHMpAA__" id="xdx_90E_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageFairValuePrice_iI_c20231231_z2olgTPw8AX6" title="Weighted Average Fair Value">5.73)

0.3984

0.4374

P0Y11M1D

P2Y11M1D

6.55

5.73 32790450

77261

(ee) Other income and expenses The Company accounts for gain or loss from exchange differences in other income and expenses.

(ff) Business combination The Company accounts for business combinations using the acquisition method of accounting in accordance with FASB ASC Topic 805, “Business Combinations”. Acquisition method accounting requires that the consideration transferred be allocated to the assets, including separately identifiable assets, and liabilities the Company acquired, based on their estimated fair values. The consideration transferred in an acquisition is measured as the aggregate of the fair values at the date of exchange of the assets given, liabilities incurred, and equity instruments issued as well as the contingent considerations and all contractual contingencies as of the acquisition date. The costs directly attributable to the acquisition are expensed as incurred. Identifiable assets, liabilities and contingent liabilities acquired or assumed are measured separately at their fair value as of the acquisition date, irrespective of the extent of any noncontrolling interests. The excess of (i) the total cost of acquisition, fair value of the noncontrolling interests and acquisition date fair value of any previously held equity interest in the acquiree over (ii) the fair value of the identifiable net assets of the acquiree, is recorded as goodwill. If the cost of acquisition is less than the fair value of the net assets of the subsidiary acquired, the difference is recognized directly in the Statement of Operations and Comprehensive Loss. SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">2</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Summary of Significant Accounting Policies (Continued)</td></tr></table>

(gg) Prefunding to remittances partner Prefunding to remittance partner represents deposits made with such a partner for remittance services to be rendered by the partner in the future. The prepayments are utilized when a remittance order is executed by the partner and the resulting amount of the order is deducted from the balance with the partner. We allow our remittance partners to prefund their balance through cryptocurrencies. These cryptocurrencies are mainly XRP. Ripple provides the XRP upon request to the Company and our remittance partners. Under applicable accounting standards, we are an agent when facilitating cryptocurrency transactions on behalf of our customers. These cryptocurrencies are held under a bailment arrangement in an account in the Company’s name on behalf of our business partner but they are not Seamless’s assets and therefore, are not reflected as cryptocurrency assets on our consolidated balance sheets . Although the Company does not control the XRP in the bailment account, we are responsible for safeguarding the XRP in the bailment account. Independent Reserve SG Pte Ltd (“Independent Reserve”), Philippine Digital Asset Exchange (“Pdax”), Betur, Inc. (“Coins.ph”) and Bitstamp Global Limited (“Bitstamp”) (collectively, the “Cryptocurrency Exchanges”) are centralized crypto exchanges which keep the cryptographic keys for each respective XRP wallet and provide the Company with its respective API access keys. The Company is the only party that holds the API access keys that grant it direct access to its XRP wallet maintained on the respective Cryptocurrency Exchange. The Cryptocurrency Exchanges maintain records of all assets deposited by its users and send statements to the Company. The Company reconciles its internal ODL transaction records to the statements received from the Cryptocurrency Exchanges to ensure that these are accurate. The Company has an obligation to protect the API access keys from being abused or stolen. The Company is responsible for any damages caused by loss or theft. Due to the unique risks associated with cryptocurrencies, including technological, legal, and regulatory risks, in accordance with Staff Accounting Bulletin No. 121 (“SAB 121”), we recognize a crypto asset safeguarding liability to reflect our obligation to safeguard the crypto assets held in the bailment account, which is recorded in Accounts payable, accruals and other payables on our consolidated balance sheet. We also recognize a corresponding safeguarding asset which is recorded in Prepayments, receivables and other assets on our consolidated balance sheet. The crypto asset safeguarding liability and corresponding safeguarding asset are measured and recorded at fair value on a recurring basis using prices available in the market we determine to be the principal market at the balance sheet date. The corresponding safeguarding asset may be adjusted for loss events, as applicable. As of December 31, 2023, the Company has not incurred any safeguarding loss events, and therefore, the crypto asset safeguarding liability and corresponding safeguarding asset were recorded at the same value. Safeguarding assets as of December 31, 2023 and 2022 are $1,983,116 and $5,787,354 respectively. Safeguarding liabilities as of December 31, 2023 and 2022 are $1,983,116 and $5,787,354 respectively. 1983116 5787354 1983116 5787354

(hh) Recent accounting pronouncements In March 2022, the SEC released SAB 121, which provides guidance for an entity to consider when it has obligations to safeguard customers’ crypto assets, whether directly or through an agent or another third party acting on its behalf. The interpretive guidance requires a reporting entity to record a liability to reflect its obligation to safeguard the crypto assets held for its platform users with a corresponding safeguarding asset. The crypto asset safeguarding liability and the corresponding safeguarding asset will be measured at the fair value of the crypto assets held for the platform users with the measurement of the safeguarding asset taking into account any potential loss events. SAB 121 also requires disclosures related to the entity’s safeguarding obligations for crypto assets held for its platform users. SAB 121 was effective in the first interim or annual financial statements ending after June 15, 2022 with retrospective application as of the beginning of the fiscal year. We adopted this guidance for the year ended December 31, 2022 with retrospective application as of January 1, 2021. As of December 31, 2023 and 2022, we recorded $2.0 million and $5.8 million, respectively, for both the crypto asset safeguarding liability and corresponding safeguarding asset, which were classified as accounts payable, accruals and other payables and prepayments, receivables and other assets, respectively, on our consolidated balance sheets. In March 2022, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2022-02, “Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures” (“ASU 2022-02”). The amendments in this ASU eliminate the accounting guidance for troubled debt restructurings (“TDRs”) by creditors in Subtopic 310-40, while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. The amendments are effective for the Company beginning after December 15, 2022. As of the year ended December 31, 2023, the Company does not consider the changes prescribed in ASU 2022-02 to have a material impact on its consolidated financial position, results of operations or cash flows. In October 2021, the FASB issued ASU No. 2021-08, “‘Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers” (“ASU 2021-08”). This ASU requires entities to apply Topic 606 to recognize and measure contract assets and contract liabilities in a business combination. The amendments improve comparability after the business combination by providing consistent recognition and measurement guidance for revenue contracts with customers acquired in a business combination and revenue contracts with customers not acquired in a business combination. The amendments are effective for the Company beginning after December 15, 2022, and are applied prospectively to business combinations that occur after the effective date. As of the year ended December 31, 2023, the Company does not consider these amendments to have a material impact to the financial statements. In August 2020, the FASB issued ASU 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity, which simplifies an issuer’s accounting for convertible instruments by reducing the number of accounting models that require separate accounting for embedded conversion features. ASU 2020-06 also simplifies the settlement assessment that entities are required to perform to determine whether a contract qualifies for equity classification. Further, ASU 2020-06 enhances information transparency by making targeted improvements to the disclosures for convertible instruments and earnings-per-share (EPS) guidance, i.e., aligning the diluted EPS calculation for convertible instruments by requiring that an entity use the if-converted method and that the effect of potential share settlement be included in the diluted EPS calculation when an instrument may be settled in cash or shares, adding information about events or conditions that occur during the reporting period that cause conversion contingencies to be met or conversion terms to be significantly changed. The Company meets the “emerging growth company” as defined in the Jumpstart Our Business Startups Act of 2012, and is therefore eligible to take advantage of certain reduced reporting requirements otherwise applicable to other public companies. For private companies, it’s effective for fiscal years beginning after December 15, 2023. The Company has chosen not to early adopt the new standard before the effective date.

2000000.0

5800000

3 Restatement of previously issued financial statements RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS In connection with the preparation of the financial statements, management identified that there is cryptocurrency, XRP, kept in the company’s crypto wallet under the bailment arrangement. Under the SAB 121, management considered that the Company has an obligation to safeguard its customers’ crypto assets. This has result in the company not recognising the safeguarding assets and safeguarding liabilities in the consolidated balance sheets as at December 31, 2022 and presentation in consolidated statements of cash flows as of December 31, 2022. In accordance with SEC Staff Accounting Bulletin No. 99, “Materiality,” and SEC Staff Accounting Bulletin No. 108, “Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements,” the Company evaluated the changes and has determined that the related impacts were material to previously presented financial statements. The following tables summarize the effect of the restatement on each financial statement line item as of the date, and for the periods indicated. SCHEDULE OF EFFECT OF RESTATEMENT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_492_20220101__20221231__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zPBzbooEJY7a" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Previously Reported</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_498_20220101__20221231__srt--RestatementAxis__srt--RevisionOfPriorPeriodReclassificationAdjustmentMember_zYzehlfcOzEd" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Adjustments</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_495_20220101__20221231_zVBSnlNK1zg1" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">As Restated</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">December 31, 2022</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Previously Reported</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Adjustments</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">As Restated</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: right">US$</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: right">US$</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: right">US$</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif">Consolidated Balance Sheets as of December 31, 2022</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AccountsAndOtherReceivablesNetCurrent_iE_zTwmtXMHU7l9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; width: 40%; text-align: left">Prepayments, receivables and other assets</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">31,776,196</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">5,787,354</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">37,563,550</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--OtherAccountsPayableAndAccruedLiabilities_iE_zN0mHEak5C56" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Accounts payable, accruals and other payables</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">53,159,031</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">5,787,354</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">58,946,385</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left">Consolidated Statement of Cash Flows for the year ended December 31, 2022</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities_zy8svrbV0vB3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Prepayments, receivables and other assets</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(8,433,545</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">2,636,855</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(5,796,690</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--IncreaseDecreaseInAccountsAndOtherReceivables_zO36RW35Jyg7" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Accounts payable, accruals and other payables</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(9,612,845</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(2,636,855</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(12,249,700</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> </table> SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

The following tables summarize the effect of the restatement on each financial statement line item as of the date, and for the periods indicated. SCHEDULE OF EFFECT OF RESTATEMENT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_492_20220101__20221231__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zPBzbooEJY7a" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Previously Reported</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_498_20220101__20221231__srt--RestatementAxis__srt--RevisionOfPriorPeriodReclassificationAdjustmentMember_zYzehlfcOzEd" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Adjustments</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_495_20220101__20221231_zVBSnlNK1zg1" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">As Restated</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">December 31, 2022</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Previously Reported</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Adjustments</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">As Restated</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: right">US$</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: right">US$</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: right">US$</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif">Consolidated Balance Sheets as of December 31, 2022</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AccountsAndOtherReceivablesNetCurrent_iE_zTwmtXMHU7l9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; width: 40%; text-align: left">Prepayments, receivables and other assets</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">31,776,196</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">5,787,354</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">37,563,550</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--OtherAccountsPayableAndAccruedLiabilities_iE_zN0mHEak5C56" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Accounts payable, accruals and other payables</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">53,159,031</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">5,787,354</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">58,946,385</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left">Consolidated Statement of Cash Flows for the year ended December 31, 2022</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities_zy8svrbV0vB3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Prepayments, receivables and other assets</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(8,433,545</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">2,636,855</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(5,796,690</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--IncreaseDecreaseInAccountsAndOtherReceivables_zO36RW35Jyg7" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Accounts payable, accruals and other payables</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(9,612,845</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(2,636,855</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(12,249,700</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> </table>

31776196

5787354

37563550

53159031

5787354

58946385

-8433545

2636855

-5796690

-9612845

-2636855

-12249700

4 Accounts receivable, net ACCOUNTS RECEIVABLE, NET SCHEDULE OF ACCOUNTS RECEIVABLE NET <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_492_20231231_zfI59AfGfzgd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_491_20221231_zPNy0AhbH2Bc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_400_eus-gaap--AccountsReceivableGrossCurrent_iI_maARNCz5bc_zWUG6CJu6FCk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 50%; text-align: left">Accounts receivable</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">2,638,333</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">3,184,892</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iNI_di_msARNCz5bc_zr2CkCk77RFl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Allowance for credit losses</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(187,462</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(117,195</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--AccountsReceivableNetCurrent_iTI_mtARNCz5bc_zcx0CDvHPLBf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Accounts receivable, net</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">2,450,871</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">3,067,697</td><td style="text-align: left"> </td></tr> </table> <p id="xdx_898_eus-gaap--AccountsReceivableAllowanceForCreditLossTableTextBlock_zukAaGz8ZsIe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">The movements in allowance for credit losses are as follows: SCHEDULE OF ALLOWANCE FOR DOUBTFUL ACCOUNTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_492_20230101__20231231_zVyLST9HfJVh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_494_20220101__20221231_zcGCGAQbLT69" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_402_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iS_z5MfhCYnv6Mc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 50%; text-align: left">Balance at the beginning of year</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">117,195</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_ecustom--AccountsReceivableAdditional_zk8lJ6WXPR8c" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Additional for the year</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">70,267</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--ProvisionForDoubtfulAccounts_ztYXDHyqQRb6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Acquisition of a subsidiary</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">117,195</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iE_zAAGrSJoss2h" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Balance at the end of year</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">187,462</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">117,195</td><td style="text-align: left"> </td></tr> </table>

SCHEDULE OF ACCOUNTS RECEIVABLE NET <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_492_20231231_zfI59AfGfzgd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_491_20221231_zPNy0AhbH2Bc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_400_eus-gaap--AccountsReceivableGrossCurrent_iI_maARNCz5bc_zWUG6CJu6FCk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 50%; text-align: left">Accounts receivable</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">2,638,333</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">3,184,892</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iNI_di_msARNCz5bc_zr2CkCk77RFl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Allowance for credit losses</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(187,462</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(117,195</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--AccountsReceivableNetCurrent_iTI_mtARNCz5bc_zcx0CDvHPLBf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Accounts receivable, net</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">2,450,871</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">3,067,697</td><td style="text-align: left"> </td></tr> </table>

2638333

3184892

187462

117195

2450871

3067697

<p id="xdx_898_eus-gaap--AccountsReceivableAllowanceForCreditLossTableTextBlock_zukAaGz8ZsIe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">The movements in allowance for credit losses are as follows: SCHEDULE OF ALLOWANCE FOR DOUBTFUL ACCOUNTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_492_20230101__20231231_zVyLST9HfJVh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_494_20220101__20221231_zcGCGAQbLT69" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_402_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iS_z5MfhCYnv6Mc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 50%; text-align: left">Balance at the beginning of year</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">117,195</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_ecustom--AccountsReceivableAdditional_zk8lJ6WXPR8c" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Additional for the year</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">70,267</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--ProvisionForDoubtfulAccounts_ztYXDHyqQRb6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Acquisition of a subsidiary</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">117,195</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iE_zAAGrSJoss2h" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Balance at the end of year</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">187,462</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">117,195</td><td style="text-align: left"> </td></tr> </table>

117195

70267

117195

187462

117195

5 Prepayments, receivables and other assets PREPAYMENTS, RECEIVABLES AND OTHER ASSETS SCHEDULE OF PREPAYMENTS AND OTHER CURRENT ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49E_20231231_zQ1ngNXFdYIi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49A_20221231_zvIZg2uw6QE6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_40C_eus-gaap--ContractWithCustomerAssetNet_iI_maPEAOAzRVY_zEyg2zoZtKQ5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 50%; text-align: left">Contract asset</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">6,888,954</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">4,657,799</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_esrt--SafeguardingAssetPlatformOperatorCryptoAsset_iI_maPEAOAzRVY_zhKGIwKHChAg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Safeguarding assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,983,116</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,787,354</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--OtherReceivablesCurrent_iI_maPEAOAzRVY_zw7rODPFXIeg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Other receivables</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">100,144</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">54,425</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--PrefundingToRemittancesPartner_iI_maPEAOAzRVY_z96kgh4kMG8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Prefunding to remittances partner</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">21,082,897</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">21,896,243</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--DepositsAssetsCurrent_iI_maPEAOAzRVY_zpBkqZA2hr38" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Deposits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,402,729</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,438,316</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--GoodsAndServicesTaxValueaddedTaxRecoverable_iI_maPEAOAzRVY_zfUrAloaTfTc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Goods and services tax/ Value-added tax recoverable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">26,493</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13,842</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--Prepayments_iI_maPEAOAzRVY_zXHBaLSDt1Wb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Prepayments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">553,258</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">503,123</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--AirtimeStock_iI_maPEAOAzRVY_zvd6lS5B5MMe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Airtime stock</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">607,308</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">715,755</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_ecustom--Inventories_iI_maPEAOAzRVY_zx4e5EQFzVa9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Inventory</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">125,603</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">162,227</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--CurrentTaxRecoverable_iI_maPEAOAzRVY_zLbojayf3Yn4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Current tax recoverable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">360,358</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,094,332</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--OtherAssetsCurrent_iI_maPEAOAzRVY_zd3Cpsl566U6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Others</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,094,379</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,240,134</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iTI_mtPEAOAzRVY_zszRt8pIhit" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">34,225,239</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">37,563,550</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Inventory refers to resalable prepaid balance made to supplier on airtime, data package and phone cards. Movement of contract assets are as follows: SCHEDULE OF CONTRACT ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 50%">As at January 1</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--ContractWithCustomerAssetNetCurrent_iS_c20230101__20231231_zMrPPjNj5u3e" style="width: 21%; text-align: right" title="As at January 1">4,657,799</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--ContractWithCustomerAssetNetCurrent_iS_c20220101__20221231_zZvydCZhzkj7" style="width: 21%; text-align: right" title="As at January 1">4,189,989</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Rights of consideration for service rendered but not billed</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--ContractWithCustomerAssetCumulativeCatchUpAdjustmentToRevenueChangeInEstimateOfTransactionPrice_c20230101__20231231_z1rxbsXmsFZ6" style="border-bottom: Black 1pt solid; text-align: right" title="As at January 1">2,231,155</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--ContractWithCustomerAssetCumulativeCatchUpAdjustmentToRevenueChangeInEstimateOfTransactionPrice_c20220101__20221231_zCIxi11b7Q1j" style="border-bottom: Black 1pt solid; text-align: right" title="As at January 1">467,810</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">As at December 31</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98D_eus-gaap--ContractWithCustomerAssetNetCurrent_iE_c20230101__20231231_z6uNITqKzRm3" style="border-bottom: Black 2.5pt double; text-align: right" title="As at January 1">6,888,954</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_987_eus-gaap--ContractWithCustomerAssetNetCurrent_iE_c20220101__20221231_zoCFkWRmPoI5" style="border-bottom: Black 2.5pt double; text-align: right" title="As at January 1">4,657,799</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

SCHEDULE OF PREPAYMENTS AND OTHER CURRENT ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49E_20231231_zQ1ngNXFdYIi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49A_20221231_zvIZg2uw6QE6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_40C_eus-gaap--ContractWithCustomerAssetNet_iI_maPEAOAzRVY_zEyg2zoZtKQ5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 50%; text-align: left">Contract asset</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">6,888,954</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">4,657,799</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_esrt--SafeguardingAssetPlatformOperatorCryptoAsset_iI_maPEAOAzRVY_zhKGIwKHChAg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Safeguarding assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,983,116</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,787,354</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--OtherReceivablesCurrent_iI_maPEAOAzRVY_zw7rODPFXIeg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Other receivables</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">100,144</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">54,425</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--PrefundingToRemittancesPartner_iI_maPEAOAzRVY_z96kgh4kMG8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Prefunding to remittances partner</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">21,082,897</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">21,896,243</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--DepositsAssetsCurrent_iI_maPEAOAzRVY_zpBkqZA2hr38" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Deposits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,402,729</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,438,316</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--GoodsAndServicesTaxValueaddedTaxRecoverable_iI_maPEAOAzRVY_zfUrAloaTfTc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Goods and services tax/ Value-added tax recoverable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">26,493</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13,842</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--Prepayments_iI_maPEAOAzRVY_zXHBaLSDt1Wb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Prepayments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">553,258</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">503,123</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--AirtimeStock_iI_maPEAOAzRVY_zvd6lS5B5MMe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Airtime stock</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">607,308</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">715,755</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_ecustom--Inventories_iI_maPEAOAzRVY_zx4e5EQFzVa9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Inventory</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">125,603</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">162,227</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--CurrentTaxRecoverable_iI_maPEAOAzRVY_zLbojayf3Yn4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Current tax recoverable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">360,358</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,094,332</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--OtherAssetsCurrent_iI_maPEAOAzRVY_zd3Cpsl566U6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Others</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,094,379</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,240,134</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iTI_mtPEAOAzRVY_zszRt8pIhit" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">34,225,239</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">37,563,550</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

6888954

4657799

1983116 5787354 100144 54425 21082897 21896243

1402729

1438316

26493 13842 553258 503123 607308 715755 125603 162227 360358 1094332

1094379

1240134

34225239

37563550

Movement of contract assets are as follows: SCHEDULE OF CONTRACT ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 50%">As at January 1</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--ContractWithCustomerAssetNetCurrent_iS_c20230101__20231231_zMrPPjNj5u3e" style="width: 21%; text-align: right" title="As at January 1">4,657,799</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--ContractWithCustomerAssetNetCurrent_iS_c20220101__20221231_zZvydCZhzkj7" style="width: 21%; text-align: right" title="As at January 1">4,189,989</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Rights of consideration for service rendered but not billed</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--ContractWithCustomerAssetCumulativeCatchUpAdjustmentToRevenueChangeInEstimateOfTransactionPrice_c20230101__20231231_z1rxbsXmsFZ6" style="border-bottom: Black 1pt solid; text-align: right" title="As at January 1">2,231,155</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--ContractWithCustomerAssetCumulativeCatchUpAdjustmentToRevenueChangeInEstimateOfTransactionPrice_c20220101__20221231_zCIxi11b7Q1j" style="border-bottom: Black 1pt solid; text-align: right" title="As at January 1">467,810</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">As at December 31</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98D_eus-gaap--ContractWithCustomerAssetNetCurrent_iE_c20230101__20231231_z6uNITqKzRm3" style="border-bottom: Black 2.5pt double; text-align: right" title="As at January 1">6,888,954</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_987_eus-gaap--ContractWithCustomerAssetNetCurrent_iE_c20220101__20221231_zoCFkWRmPoI5" style="border-bottom: Black 2.5pt double; text-align: right" title="As at January 1">4,657,799</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

4657799

4189989

2231155

467810

6888954

4657799

<p id="xdx_807_eus-gaap--InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock_zpPvUoEh4Kcb" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">6 Investment in an equity security INVESTMENT IN AN EQUITY SECURITY Investment in an unquoted equity security as of December 31, 2023 and 2022 consisted of the following: SCHEDULE OF INVESTMENT IN AN EQUITY SECURITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2"> </td><td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2"> </td><td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 46%"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 14%; font-weight: bold; text-align: right">US$</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 14%; font-weight: bold; text-align: right">US$</td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">K Hub</td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right">0.54</td><td style="padding-bottom: 2.5pt; text-align: left">%</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">100,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">100,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">K Hub</td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIElOVkVTVE1FTlQgSU4gQU4gRVFVSVRZIFNFQ1VSSVRZIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_90D_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20231231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--KHubMember_zhoq4glr4qMb" title="Equity method investment, ownership percentage"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIElOVkVTVE1FTlQgSU4gQU4gRVFVSVRZIFNFQ1VSSVRZIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_903_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20221231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--KHubMember_z3Y3c3ZAdtnb" title="Equity method investment, ownership percentage">0.54</td><td style="padding-bottom: 2.5pt; text-align: left">%</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">100,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">100,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> No impairment was recorded as of December 31, 2023 and 2022 as the Company evaluated the decline in fair value of the investment below its book value was not other-than-temporary.

Investment in an unquoted equity security as of December 31, 2023 and 2022 consisted of the following: SCHEDULE OF INVESTMENT IN AN EQUITY SECURITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2"> </td><td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2"> </td><td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 46%"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 14%; font-weight: bold; text-align: right">US$</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 14%; font-weight: bold; text-align: right">US$</td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">K Hub</td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right">0.54</td><td style="padding-bottom: 2.5pt; text-align: left">%</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">100,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">100,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">K Hub</td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIElOVkVTVE1FTlQgSU4gQU4gRVFVSVRZIFNFQ1VSSVRZIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_90D_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20231231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--KHubMember_zhoq4glr4qMb" title="Equity method investment, ownership percentage"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIElOVkVTVE1FTlQgSU4gQU4gRVFVSVRZIFNFQ1VSSVRZIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_903_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20221231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--KHubMember_z3Y3c3ZAdtnb" title="Equity method investment, ownership percentage">0.54</td><td style="padding-bottom: 2.5pt; text-align: left">%</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">100,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">100,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

100000 100000

0.0054

100000 100000

7 Equipment, net EQUIPMENT AND SOFTWARE, NET Equipment, net as of December 31, 2023 and 2022 consisted of the following: SCHEDULE OF EQUIPMENT AND SOFTWARE NET <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49B_20231231_z0oTVtAFgDW4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49E_20221231_zZ8t63nlbO76" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_407_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zFz1RpvbCek5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 50%; text-align: left">Office equipment</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">489,396</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">433,479</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--FurnitureAndFittingsMember_zDDmUOat0cy4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Furniture and fittings</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">303,331</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">298,076</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--RenovationMember_zZGepVrQPyGe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Renovation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,741,702</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,739,807</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--SignBoardMember_zTEHx9Cyy845" style="vertical-align: bottom; background-color: White"> <td>Signboard</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,195</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,195</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ComputerPeripheralsMember_zE6ZN9hgvsMh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Computer peripherals</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,301,853</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,074,341</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ElectricalInstallationMember_zb2jyvNpp59f" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Electrical installation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">46,492</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">45,502</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--MobilePhoneMember_zcvnsqQjNzxb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Mobile phone</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,022</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,013</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--MotorVehicleMember_ziDujuKIVXD9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Motor vehicle</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">14,536</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">97,479</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AirConditionersMember_zHGxyYiSUGEk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Air conditioners</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8,367</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,809</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--PropertyPlantAndEquipmentGross_iI_maPPAENzmzb_zez355sp5E44" style="vertical-align: bottom; background-color: White"> <td>Total</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,917,894</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,704,701</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--PropertyPlantAndEquipmentGross_iI_maPPAENzmzb_zMT80MIV5B8f" style="display: none; vertical-align: bottom; background-color: White"> <td>Equipment and software, gross</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,917,894</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,704,701</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_di_msPPAENzmzb_zdXg1Z5OCeW9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Less: accumulated depreciation</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(4,901,404</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(4,383,080</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--PropertyPlantAndEquipmentNet_iTI_mtPPAENzmzb_zbneAiNFdiHh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Equipment, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,016,490</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,321,621</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Depreciation expenses of US$607,138 and US$701,262 were recorded in general and administrative expenses for the years ended December 31, 2023 and 2022, respectively.

Equipment, net as of December 31, 2023 and 2022 consisted of the following: SCHEDULE OF EQUIPMENT AND SOFTWARE NET <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49B_20231231_z0oTVtAFgDW4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49E_20221231_zZ8t63nlbO76" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_407_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zFz1RpvbCek5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 50%; text-align: left">Office equipment</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">489,396</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">433,479</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--FurnitureAndFittingsMember_zDDmUOat0cy4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Furniture and fittings</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">303,331</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">298,076</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--RenovationMember_zZGepVrQPyGe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Renovation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,741,702</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,739,807</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--SignBoardMember_zTEHx9Cyy845" style="vertical-align: bottom; background-color: White"> <td>Signboard</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,195</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,195</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ComputerPeripheralsMember_zE6ZN9hgvsMh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Computer peripherals</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,301,853</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,074,341</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ElectricalInstallationMember_zb2jyvNpp59f" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Electrical installation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">46,492</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">45,502</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--MobilePhoneMember_zcvnsqQjNzxb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Mobile phone</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,022</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,013</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--MotorVehicleMember_ziDujuKIVXD9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Motor vehicle</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">14,536</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">97,479</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AirConditionersMember_zHGxyYiSUGEk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Air conditioners</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8,367</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,809</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--PropertyPlantAndEquipmentGross_iI_maPPAENzmzb_zez355sp5E44" style="vertical-align: bottom; background-color: White"> <td>Total</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,917,894</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,704,701</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--PropertyPlantAndEquipmentGross_iI_maPPAENzmzb_zMT80MIV5B8f" style="display: none; vertical-align: bottom; background-color: White"> <td>Equipment and software, gross</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,917,894</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,704,701</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_di_msPPAENzmzb_zdXg1Z5OCeW9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Less: accumulated depreciation</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(4,901,404</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(4,383,080</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--PropertyPlantAndEquipmentNet_iTI_mtPPAENzmzb_zbneAiNFdiHh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Equipment, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,016,490</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,321,621</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

489396

433479

303331

298076

1741702

1739807

2195

3301853

3074341

46492

45502

10022

9013

14536

97479

8367

4809

5917894

5704701

5917894

5704701

4901404

4383080

1016490

1321621

607138

701262

8 Intangible assets, net INTANGIBLE ASSETS, NET <p id="xdx_894_eus-gaap--ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock_zvzf6l8yRyTl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: 0pt">Intangible assets, net as of December 31, 2023 and 2022 consisted of the following: SCHEDULE OF INTANGIBLE ASSETS NET <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49D_20231231_zaHft3QTMiT1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_497_20221231_z9EuzmMQfAJc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_409_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--SoftwareMember_z3b9EjrrBmUe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Software</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">22,778,055</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">20,546,739</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--DevelopedTechnologiesMember_zZaTJA6dvdD" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Developed technologies</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,853,354</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,853,354</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TrademarksAndTradeNamesMember_zPdxT8GYmm91" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Trade names and trademarks</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">7,043,640</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">7,043,640</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_maFLIANztKB_z5L0GPK3Kelk" style="vertical-align: bottom; background-color: White"> <td>Total</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">35,675,049</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">33,443,733</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_maFLIANztKB_zSUbOlEvXxS2" style="display: none; vertical-align: bottom; background-color: White"> <td>Intangible assets, gross</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">35,675,049</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">33,443,733</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_di_msFLIANztKB_zAH6FCGWwZLg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Less: accumulated amortization</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(26,483,336</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(23,593,955</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_mtFLIANztKB_zM440niqNyX5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Intangible assets, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">9,191,713</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">9,849,778</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Amortization expenses of US$1,587,906 and US$1,612,937 were recorded in cost of revenue and general and administrative expenses respectively, for the year ended December 31, 2023. Amortization expenses of US$1,984,831 and US$1,540,557 were recorded in cost of revenue and general and administrative expenses respectively, for the year ended December 31, 2022. SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.5in">8</td> <td style="text-align: justify">Intangible assets, net (Continued)</td></tr> </table> <p id="xdx_896_eus-gaap--ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock_zwjDayEuNEp5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify">As of December 31, 2023, the estimated future amortization expense for each of the next five years and thereafter was as follows: SCHEDULE OF FUTURE AMORTIZATION EXPENSES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_498_20231231_zg6SAQ2b3PD6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Amortization</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>For the year ending December 31,</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_iI_maFLIANzJhQ_za6KJPJ6WXKb" style="vertical-align: bottom; background-color: White"> <td style="width: 80%; text-align: left">2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">2,948,062</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_iI_maFLIANzJhQ_zxCmqZQlEIwb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2025</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,779,867</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_iI_maFLIANzJhQ_zQVMXce0OMPc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2026</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,343,051</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_iI_maFLIANzJhQ_zKPa0Rxz31y" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">815,240</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFive_iI_maFLIANzJhQ_zVK2vSHuZoFh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">305,493</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive_iI_maFLIANzJhQ_zY8WCRVYfIZb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Thereafter</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_mtFLIANzJhQ_zt49IiHZPgsi" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">9,191,713</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

<p id="xdx_894_eus-gaap--ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock_zvzf6l8yRyTl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: 0pt">Intangible assets, net as of December 31, 2023 and 2022 consisted of the following: SCHEDULE OF INTANGIBLE ASSETS NET <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49D_20231231_zaHft3QTMiT1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_497_20221231_z9EuzmMQfAJc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_409_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--SoftwareMember_z3b9EjrrBmUe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Software</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">22,778,055</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">20,546,739</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--DevelopedTechnologiesMember_zZaTJA6dvdD" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Developed technologies</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,853,354</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,853,354</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TrademarksAndTradeNamesMember_zPdxT8GYmm91" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Trade names and trademarks</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">7,043,640</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">7,043,640</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_maFLIANztKB_z5L0GPK3Kelk" style="vertical-align: bottom; background-color: White"> <td>Total</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">35,675,049</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">33,443,733</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_maFLIANztKB_zSUbOlEvXxS2" style="display: none; vertical-align: bottom; background-color: White"> <td>Intangible assets, gross</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">35,675,049</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">33,443,733</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_di_msFLIANztKB_zAH6FCGWwZLg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Less: accumulated amortization</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(26,483,336</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(23,593,955</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_mtFLIANztKB_zM440niqNyX5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Intangible assets, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">9,191,713</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">9,849,778</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

22778055

20546739

5853354

7043640

35675049

33443733

35675049

33443733

26483336

23593955

9191713

9849778

1587906

1612937

1984831

1540557

<p id="xdx_896_eus-gaap--ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock_zwjDayEuNEp5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify">As of December 31, 2023, the estimated future amortization expense for each of the next five years and thereafter was as follows: SCHEDULE OF FUTURE AMORTIZATION EXPENSES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_498_20231231_zg6SAQ2b3PD6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Amortization</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>For the year ending December 31,</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_iI_maFLIANzJhQ_za6KJPJ6WXKb" style="vertical-align: bottom; background-color: White"> <td style="width: 80%; text-align: left">2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">2,948,062</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_iI_maFLIANzJhQ_zxCmqZQlEIwb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2025</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,779,867</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_iI_maFLIANzJhQ_zQVMXce0OMPc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2026</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,343,051</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_iI_maFLIANzJhQ_zKPa0Rxz31y" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">815,240</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFive_iI_maFLIANzJhQ_zVK2vSHuZoFh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">305,493</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive_iI_maFLIANzJhQ_zY8WCRVYfIZb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Thereafter</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_mtFLIANzJhQ_zt49IiHZPgsi" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">9,191,713</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

2948062

2779867

2343051

815240

305493

9191713

9 Goodwill GOODWILL Changes in the carrying amount of goodwill for the years ended December 31, 2023 and 2022 were as follows: SCHEDULE OF GOODWILL <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Goodwill</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 50%">Balance as of January 1, 2022</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--Goodwill_iS_c20220101__20221231_zPR1whdB4Th9" style="width: 21%; text-align: right" title="Balance">19,229,528</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Goodwill from acquisition</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--GoodwillAcquiredDuringPeriod_c20220101__20221231_zaFgibjhTJBb" style="border-bottom: Black 1pt solid; text-align: right" title="Balance">7,771,855</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--GoodwillImpairmentLoss_iN_di_zwHmJbYjuJX" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Goodwill impairment</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right" title="Balance"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Balance as of December 31, 2022, January 1, 2023 and December 31, 2023</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98E_eus-gaap--Goodwill_iE_c20220101__20221231_zm7PAzz73DKk" style="border-bottom: Black 2.5pt double; text-align: right" title="Balance">27,001,383</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

Changes in the carrying amount of goodwill for the years ended December 31, 2023 and 2022 were as follows: SCHEDULE OF GOODWILL <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Goodwill</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 50%">Balance as of January 1, 2022</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--Goodwill_iS_c20220101__20221231_zPR1whdB4Th9" style="width: 21%; text-align: right" title="Balance">19,229,528</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Goodwill from acquisition</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--GoodwillAcquiredDuringPeriod_c20220101__20221231_zaFgibjhTJBb" style="border-bottom: Black 1pt solid; text-align: right" title="Balance">7,771,855</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--GoodwillImpairmentLoss_iN_di_zwHmJbYjuJX" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Goodwill impairment</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right" title="Balance"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Balance as of December 31, 2022, January 1, 2023 and December 31, 2023</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98E_eus-gaap--Goodwill_iE_c20220101__20221231_zm7PAzz73DKk" style="border-bottom: Black 2.5pt double; text-align: right" title="Balance">27,001,383</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

19229528

7771855

27001383

10 Leases LEASES The Company entered into operating leases for computer peripherals and office properties in Malaysia and Indonesia. The leases in Malaysia included an option to renew for a one year term. None of the renewal options have been included in the measurement of the leases. The Company also entered into finance lease for computer peripherals. <p id="xdx_89B_ecustom--ScheduleOfRightOfUseAssetsAndLeaseLiabilitiesTableTextBlock_zGFxqz1qLAz4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">Right-of-use assets and lease liabilities, as of December 31, 2023 and 2022, are as follows: SCHEDULE OF RIGHT OF USE ASSETS AND LEASE LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Line Items</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_497_20231231_zolS2E1fSvhl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_498_20221231_zQJFwM1Etrbc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Financial Statement</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Line Items</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Right-of-use assets:</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--OperatingLeaseRightOfUseAsset_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--RightOfUseAssetsMember_zWIGVrbMhDxe" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 29%; text-align: left; padding-bottom: 1.5pt">Operating lease</td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="width: 29%; text-align: center; padding-bottom: 1.5pt">Right-of-use assets</td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">154,234</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">342,432</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--OperatingLeaseRightOfUseAssetNet_iI_zraBLdDPCVk7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Total right-of-use assets</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">154,234</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">342,432</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Lease liabilities:</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Current liabilities</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--OperatingLeaseLiabilityCurrent_iI_hus-gaap--FinancialInstrumentAxis__custom--CurrentPortionOfLeaseLiabilitiesMember_zQTTz3UVdDve" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1.5pt">Operating lease</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt">Current portion of lease liabilities</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">152,325</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">174,061</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--OperatingAndFinanceLeaseLiabilityCurrent_iI_zzkcLOsNaxw5" style="vertical-align: bottom; background-color: White"> <td>Total current operating lease liabilities</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">152,325</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">174,061</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Non-current liabilities</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_hus-gaap--FinancialInstrumentAxis__custom--CurrentPortionOfLeaseLiabilitiesMember_zeQDvoQPu1jf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1.5pt">Operating lease</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt">Other payables</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">158,895</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_403_ecustom--OperatingAndFinanceLeaseLiabilityNonCurrent_iI_zZqlHgckHHDe" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total non- current operating liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">158,895</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.5in">10</td> <td style="text-align: justify">Leases (Continued)</td></tr> </table> The components of lease costs are as follows: SCHEDULE OF LEASE COSTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_490_20230101__20231231_zo9vDfE6OQK2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49C_20220101__20221231_zn1PC3cSoZBd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Years ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_402_eus-gaap--OperatingLeaseCost_maLCzfCc_zo2vZ68y0LPk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Operating lease costs</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">1,123,046</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">1,168,188</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--ShortTermLeaseCost_maLCzfCc_zcFM6hxpZP3j" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Short-term lease costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">141,889</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">80,217</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--FinanceLeaseLiabilityAbstract_iB_zkvM8DM6tLX4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Finance lease costs:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--DepreciationForFinanceLeaseCost_maLCzfCc_zRjsYn3WC57k" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,938</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--FinanceLeaseInterestExpense_maLCzfCc_ziBbpjQymXzg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1.5pt">Interest on finance lease liabilities</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">406</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--LeaseCost_iT_mtLCzfCc_zj3B6eQ0SyQj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total lease costs</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,264,935</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,251,749</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Other information related to leases is as follows: SCHEDULE OF OTHER INFORMATION RELATED TO LEASES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Weighted Average Remaining Lease Term</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 80%; text-align: left">Operating lease</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">10.5</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Weighted Average Discount Rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Operating lease</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8.6</td><td style="text-align: left">%</td></tr> </table> Cash flows related to leases are as follows: SCHEDULE OF CASHFLOWS RELATED TO LEASES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_496_20230101__20231231_zRiZiEOgWs64" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_496_20220101__20221231_zkU5nfFgfINi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Years ended December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_405_eus-gaap--CashFlowOperatingActivitiesLesseeAbstract_iB_z5bQIyqucc48" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Cash flows from operating activities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--OperatingLeasePayments_z2Ge5WtfdJM1" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 60%; text-align: left">Payments for operating lease liabilities</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">199,447</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">172,711</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--CashFlowFinancingActivitiesLesseeAbstract_iB_zZv0mXbXr5el" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Cash flows from financing activities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--FinanceLeasePrincipalPayments_zMYSJEnbRJ4d" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Principal payments on finance lease obligation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">61,048</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--SupplementalCashFlowInformationAbstract_iB_z4K82FscGovj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Supplemental Cash Flow Data:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability_zx7IWJARvNle" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Right-of-use assets obtained in exchange for new operating lease obligations</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,350</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">376,428</td><td style="text-align: left"> </td></tr> </table> <p id="xdx_89E_ecustom--ScheduleOfFutureMinimumLeasePaymentsUnderNonCancelableOperatingLeasesTableTextBlock_zmXoKxTm1URk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify">Future minimum lease payments under non-cancelable operating leases as of December 31, 2023 are as follows: SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS UNDER NON CANCELABLE OPERATING LEASES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_494_20231231_zgjzgb0Cngz1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Operating lease</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>For the year ending December 31,</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_z4Kw0Nbvwk56" style="vertical-align: bottom; background-color: White"> <td style="width: 80%; text-align: left">2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">157,991</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_zbA84Ge3T5Yf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">2025</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_zGPicNQjpZ9e" style="vertical-align: bottom; background-color: White"> <td>Lease liabilities (Gross)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">157,991</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_di_zg3OHsOMEcBd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Less: imputed interest</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(5,666</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--OperatingLeaseLiability_iTI_zbJiHnQntmxi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total lease liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">152,325</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

<p id="xdx_89B_ecustom--ScheduleOfRightOfUseAssetsAndLeaseLiabilitiesTableTextBlock_zGFxqz1qLAz4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">Right-of-use assets and lease liabilities, as of December 31, 2023 and 2022, are as follows: SCHEDULE OF RIGHT OF USE ASSETS AND LEASE LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Line Items</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_497_20231231_zolS2E1fSvhl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_498_20221231_zQJFwM1Etrbc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Financial Statement</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Line Items</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Right-of-use assets:</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--OperatingLeaseRightOfUseAsset_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--RightOfUseAssetsMember_zWIGVrbMhDxe" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 29%; text-align: left; padding-bottom: 1.5pt">Operating lease</td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="width: 29%; text-align: center; padding-bottom: 1.5pt">Right-of-use assets</td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">154,234</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">342,432</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--OperatingLeaseRightOfUseAssetNet_iI_zraBLdDPCVk7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Total right-of-use assets</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">154,234</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">342,432</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Lease liabilities:</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Current liabilities</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--OperatingLeaseLiabilityCurrent_iI_hus-gaap--FinancialInstrumentAxis__custom--CurrentPortionOfLeaseLiabilitiesMember_zQTTz3UVdDve" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1.5pt">Operating lease</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt">Current portion of lease liabilities</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">152,325</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">174,061</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--OperatingAndFinanceLeaseLiabilityCurrent_iI_zzkcLOsNaxw5" style="vertical-align: bottom; background-color: White"> <td>Total current operating lease liabilities</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">152,325</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">174,061</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Non-current liabilities</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_hus-gaap--FinancialInstrumentAxis__custom--CurrentPortionOfLeaseLiabilitiesMember_zeQDvoQPu1jf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1.5pt">Operating lease</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt">Other payables</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">158,895</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_403_ecustom--OperatingAndFinanceLeaseLiabilityNonCurrent_iI_zZqlHgckHHDe" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total non- current operating liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">158,895</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

154234

342432

154234 342432

152325

174061

152325 174061

158895

The components of lease costs are as follows: SCHEDULE OF LEASE COSTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_490_20230101__20231231_zo9vDfE6OQK2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49C_20220101__20221231_zn1PC3cSoZBd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Years ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_402_eus-gaap--OperatingLeaseCost_maLCzfCc_zo2vZ68y0LPk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Operating lease costs</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">1,123,046</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">1,168,188</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--ShortTermLeaseCost_maLCzfCc_zcFM6hxpZP3j" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Short-term lease costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">141,889</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">80,217</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--FinanceLeaseLiabilityAbstract_iB_zkvM8DM6tLX4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Finance lease costs:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--DepreciationForFinanceLeaseCost_maLCzfCc_zRjsYn3WC57k" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,938</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--FinanceLeaseInterestExpense_maLCzfCc_ziBbpjQymXzg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1.5pt">Interest on finance lease liabilities</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">406</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--LeaseCost_iT_mtLCzfCc_zj3B6eQ0SyQj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total lease costs</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,264,935</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,251,749</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

1123046

1168188

141889

80217

2938

406

1264935

1251749

Other information related to leases is as follows: SCHEDULE OF OTHER INFORMATION RELATED TO LEASES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Weighted Average Remaining Lease Term</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 80%; text-align: left">Operating lease</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">10.5</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Weighted Average Discount Rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Operating lease</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8.6</td><td style="text-align: left">%</td></tr> </table>

P10M15D

0.086

Cash flows related to leases are as follows: SCHEDULE OF CASHFLOWS RELATED TO LEASES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_496_20230101__20231231_zRiZiEOgWs64" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_496_20220101__20221231_zkU5nfFgfINi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Years ended December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_405_eus-gaap--CashFlowOperatingActivitiesLesseeAbstract_iB_z5bQIyqucc48" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Cash flows from operating activities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--OperatingLeasePayments_z2Ge5WtfdJM1" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 60%; text-align: left">Payments for operating lease liabilities</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">199,447</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">172,711</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--CashFlowFinancingActivitiesLesseeAbstract_iB_zZv0mXbXr5el" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Cash flows from financing activities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--FinanceLeasePrincipalPayments_zMYSJEnbRJ4d" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Principal payments on finance lease obligation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">61,048</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--SupplementalCashFlowInformationAbstract_iB_z4K82FscGovj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Supplemental Cash Flow Data:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability_zx7IWJARvNle" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Right-of-use assets obtained in exchange for new operating lease obligations</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,350</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">376,428</td><td style="text-align: left"> </td></tr> </table>

199447

172711

61048

7350

376428

<p id="xdx_89E_ecustom--ScheduleOfFutureMinimumLeasePaymentsUnderNonCancelableOperatingLeasesTableTextBlock_zmXoKxTm1URk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify">Future minimum lease payments under non-cancelable operating leases as of December 31, 2023 are as follows: SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS UNDER NON CANCELABLE OPERATING LEASES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_494_20231231_zgjzgb0Cngz1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Operating lease</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>For the year ending December 31,</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_z4Kw0Nbvwk56" style="vertical-align: bottom; background-color: White"> <td style="width: 80%; text-align: left">2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">157,991</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_zbA84Ge3T5Yf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">2025</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_zGPicNQjpZ9e" style="vertical-align: bottom; background-color: White"> <td>Lease liabilities (Gross)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">157,991</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_di_zg3OHsOMEcBd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Less: imputed interest</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(5,666</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--OperatingLeaseLiability_iTI_zbJiHnQntmxi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total lease liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">152,325</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

157991

5666

152325

11 Borrowings BORROWINGS SCHEDULE OF BORROWINGS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_496_20231231_zLYWVlkCOEX5" style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_49A_20221231_zWooyKyuS6l5" style="text-align: center"> </td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_40F_eus-gaap--OtherShortTermBorrowings_iI_zeIliEqjc2f5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 50%; text-align: left">Short-term borrowings (i)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">8,772,710</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">8,978,390</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--LongTermDebt_iI_zuZboxoCTTz7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Long-term borrowings (ii)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,538,357</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12,305,279</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--LongTermDebtCurrent_iNI_di_z9N5siztKN87" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Less: current maturities</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(9,031,383</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(4,426,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--LongTermDebtNoncurrent_iI_zvFO2FfpJev9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Non-current maturities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">2,506,974</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">7,879,279</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">(i)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">As of December 31, 2023 and 2022, the Company had several unsecured short-term loans from independent third parties which were repayable within one year and charged interest rates ranging from <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_906_eus-gaap--DebtWeightedAverageInterestRate_iI_pid_dp_uPure_c20231231__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember__srt--RangeAxis__srt--MinimumMember__srt--TitleOfIndividualAxis__custom--ThirdPartyMember_zMgpfHI5jek6" title="Interest rates">15.0% to <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_eus-gaap--DebtWeightedAverageInterestRate_iI_pid_dp_uPure_c20231231__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember__srt--RangeAxis__srt--MaximumMember__srt--TitleOfIndividualAxis__custom--ThirdPartyMember_znZiga8a2DXl" title="Debt weighted average interest">24.0% and <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_903_eus-gaap--DebtWeightedAverageInterestRate_iI_pid_dp_uPure_c20221231__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember__srt--RangeAxis__srt--MinimumMember__srt--TitleOfIndividualAxis__custom--ThirdPartyMember_zTBSer7jWgF6" title="Debt weighted average interest">15.0% to <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_902_eus-gaap--DebtWeightedAverageInterestRate_iI_pid_dp_uPure_c20221231__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember__srt--RangeAxis__srt--MaximumMember__srt--TitleOfIndividualAxis__custom--ThirdPartyMember_zz6unuJN2aOc" title="Debt weighted average interest">24.0% per annum, respectively. As of December 31, 2023 and 2022, the weighted average interest rate of these borrowings was <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_eus-gaap--DebtWeightedAverageInterestRate_iI_pid_dp_uPure_c20231231__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember__srt--TitleOfIndividualAxis__custom--ThirdPartyMember_zGS7QHM1rfGk" title="Debt weighted average interest">22.6% and <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_904_eus-gaap--DebtWeightedAverageInterestRate_iI_pid_dp_uPure_c20221231__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember__srt--TitleOfIndividualAxis__custom--ThirdPartyMember_z5OfKpenkfF" title="Debt weighted average interest">22.4% per annum, respectively. The borrowings are denominated in HK$ and US$.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">(ii)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">As of December 31, 2023 and 2022, the Company obtained several unsecured long-term loans for two to five years. Interest rates ranged from <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_908_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20231231__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--LongTermDebtMember__srt--RangeAxis__srt--MinimumMember_zD4htGGNS4p7">12.0% to <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90A_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20231231__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--LongTermDebtMember__srt--RangeAxis__srt--MaximumMember_zMn92SexAGCg">24.0% and <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_903_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20221231__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--LongTermDebtMember__srt--RangeAxis__srt--MinimumMember_z68a48ER6sSj">2.5% to <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90D_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20221231__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--LongTermDebtMember__srt--RangeAxis__srt--MaximumMember_zIsYEHotlavj">24.0% per annum, respectively. As of December 31, 2023 and 2022, the weighted average interest rate of these borrowings was <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_902_eus-gaap--DebtWeightedAverageInterestRate_iI_pid_dp_uPure_c20231231__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember_zI00yyidTmP1" title="Debt weighted average interest">13.1% and <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90A_eus-gaap--DebtWeightedAverageInterestRate_iI_pid_dp_uPure_c20221231__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember_zESp6Sy7L6wi" title="Debt weighted average interest">15.5% per annum, respectively. The borrowings are denominated in HK$ and US$.</td></tr></table> As of December 31, 2023, the Company obtained loans from three members of management of the Company. A loan of HK$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_eus-gaap--LoansAssumed1_pn5n6_uHKD_c20230101__20231231__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember_zwsQSxmrerm9">4.7 million (equivalent to US$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_903_eus-gaap--LoansAssumed1_pn5n6_c20230101__20231231__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember_zeb0XVGAt4ee">0.6 million) has been provided by Mr. Takis Wong, the Chief Operating Officer, at an interest rate of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90D_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20231231__srt--TitleOfIndividualAxis__custom--MrTakisWongMember_zmsqNvQwWMg2">12% per annum. The loan is unsecured and repayable in full on April 4, 2024. Another loan of HK$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_908_eus-gaap--LoansAssumed1_pn5n6_uHKD_c20230101__20231231__srt--TitleOfIndividualAxis__custom--AlexanderKongMember__us-gaap--DebtInstrumentAxis__custom--LoanOneMember_z5olWjvwpM3e">2.5 million and <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90A_eus-gaap--LoansAssumed1_pn5n6_uHKD_c20230101__20231231__srt--TitleOfIndividualAxis__custom--AlexanderKongMember__us-gaap--DebtInstrumentAxis__custom--LoanTwoMember_zL3iijk8aXEe">9.8 million (equivalent to US$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90C_eus-gaap--LoansAssumed1_pn5n6_c20230101__20231231__srt--TitleOfIndividualAxis__custom--AlexanderKongMember__us-gaap--DebtInstrumentAxis__custom--LoanOneMember_zNb3sHjCUPab">0.3 million and US$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_902_eus-gaap--LoansAssumed1_pn5n6_c20230101__20231231__srt--TitleOfIndividualAxis__custom--AlexanderKongMember__us-gaap--DebtInstrumentAxis__custom--LoanTwoMember_zDv1Zx95wUQg">1.3 million) has been provided by Mr. Alexander Kong, the Chairman, at an interest rate of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20231231__srt--TitleOfIndividualAxis__custom--AlexanderKongMember_zKXuhlgkK4J9">12% per annum. The loan is unsecured and repayable in full on March 30 and June 30, 2024, respectively. Another loan of HK$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90F_eus-gaap--LoansAssumed1_pn5n6_uHKD_c20230101__20231231__srt--TitleOfIndividualAxis__custom--RonnieHuiMember_zTpWfLzb5gKf">3.6 million (equivalent to US$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_eus-gaap--LoansAssumed1_pn5n6_c20230101__20231231__srt--TitleOfIndividualAxis__custom--RonnieHuiMember_zktdRnTTjele">0.6 million) has been provided by Dr. Ronnie Hui, the Chief Executive Officer, at an interest rate of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_905_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20231231__srt--TitleOfIndividualAxis__custom--RonnieHuiMember_zXWsYsvSzEuj">12% per annum. The loan is unsecured and repayable on demand. The company is in negotiation to extend the above loans. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">(iii)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">As of December 31, 2023, the Company had a loan of US$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90E_eus-gaap--LoansAssumed1_pn4n6_c20230101__20231231__srt--TitleOfIndividualAxis__custom--MrTakisWongMember__dei--LegalEntityAxis__custom--NobleTackInternationalLimitedMember_zUpr83B07Ovh" title="Loans">2.05 million from Noble Tack International Limited, one of the shareholders of its subsidiary, Dynamic Indonesia Holdings Limited. The loan is unsecured, interest-free and repayable on demand.</td></tr><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif">(iv)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">As of December 31, 2023 and 2022, the Company had obtained a line of credit of US$5 million from Ripple Labs, Inc., one of the related parties of their subsidiary, Tranglo Sdn. Bhd. The loan is unsecured and has an interest rate of 12% per annum. Amount drawn down as of December 31, 2023 and 2022, was US$5 million and US$5 million respectively. The line of credit facility has a maturity of two years from the effective date of September 12, 2022. Ripple has the option of calling any drawdown on or after the first anniversary.</td></tr> </table> As of December 31, 2023, loans of US$8.7 million were guaranteed by Mr. Alexander Kong (2022: US$9.3 million). Interest expense during the years ended December 31, 2023 and 2022 was US$4,655,070 and US$4,591,803, respectively. SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.5in">11</td> <td style="text-align: justify">Borrowings (continued)</td></tr> </table> As of December 31, 2023, the long-term borrowings will be due according to the following schedule: SCHEDULE OF LONG TERM BORROWINGS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_490_20231231_zbwNt9XXQuYh" style="text-align: center"> </td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Principal amounts</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>For the year ending December 31,</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear_iI_maLTDzVqt_zN2rihPVGgve" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left">Within one year</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_maLTDzVqt_zFBO4B0RFDpa" style="vertical-align: bottom; background-color: White"> <td style="width: 50%; text-align: left">2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">9,031,383</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_iI_maLTDzVqt_zEUK6onJ1f0e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2025</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">466,188</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_iI_maLTDzVqt_zKkaLDyjvp0c" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2026</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_iI_maLTDzVqt_zY0vaCfI374e" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left">Within four years</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_iI_maLTDzVqt_z1T0v9yh4Tg6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">2027</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,040,786</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_iI_maLTDzVqt_zKrn3ZsrDlW3" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Within five years</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,040,786</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--LongTermDebt_iTI_mtLTDzVqt_z4mKm2Y0llIf" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">11,538,357</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The carrying values of short-term borrowings approximate their fair values due to their short-term maturities. The Company’s long-term borrowing are subject to both fixed and floating interest rates. The carrying values of each type of these borrowings approximate their fair values as the interest rates reflect the rates offered to other entities with similar characteristics to Seamless.

SCHEDULE OF BORROWINGS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_496_20231231_zLYWVlkCOEX5" style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_49A_20221231_zWooyKyuS6l5" style="text-align: center"> </td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_40F_eus-gaap--OtherShortTermBorrowings_iI_zeIliEqjc2f5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 50%; text-align: left">Short-term borrowings (i)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">8,772,710</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">8,978,390</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--LongTermDebt_iI_zuZboxoCTTz7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Long-term borrowings (ii)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,538,357</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12,305,279</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--LongTermDebtCurrent_iNI_di_z9N5siztKN87" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Less: current maturities</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(9,031,383</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(4,426,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--LongTermDebtNoncurrent_iI_zvFO2FfpJev9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Non-current maturities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">2,506,974</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">7,879,279</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">(i)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">As of December 31, 2023 and 2022, the Company had several unsecured short-term loans from independent third parties which were repayable within one year and charged interest rates ranging from <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_906_eus-gaap--DebtWeightedAverageInterestRate_iI_pid_dp_uPure_c20231231__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember__srt--RangeAxis__srt--MinimumMember__srt--TitleOfIndividualAxis__custom--ThirdPartyMember_zMgpfHI5jek6" title="Interest rates">15.0% to <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_eus-gaap--DebtWeightedAverageInterestRate_iI_pid_dp_uPure_c20231231__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember__srt--RangeAxis__srt--MaximumMember__srt--TitleOfIndividualAxis__custom--ThirdPartyMember_znZiga8a2DXl" title="Debt weighted average interest">24.0% and <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_903_eus-gaap--DebtWeightedAverageInterestRate_iI_pid_dp_uPure_c20221231__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember__srt--RangeAxis__srt--MinimumMember__srt--TitleOfIndividualAxis__custom--ThirdPartyMember_zTBSer7jWgF6" title="Debt weighted average interest">15.0% to <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_902_eus-gaap--DebtWeightedAverageInterestRate_iI_pid_dp_uPure_c20221231__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember__srt--RangeAxis__srt--MaximumMember__srt--TitleOfIndividualAxis__custom--ThirdPartyMember_zz6unuJN2aOc" title="Debt weighted average interest">24.0% per annum, respectively. As of December 31, 2023 and 2022, the weighted average interest rate of these borrowings was <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_eus-gaap--DebtWeightedAverageInterestRate_iI_pid_dp_uPure_c20231231__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember__srt--TitleOfIndividualAxis__custom--ThirdPartyMember_zGS7QHM1rfGk" title="Debt weighted average interest">22.6% and <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_904_eus-gaap--DebtWeightedAverageInterestRate_iI_pid_dp_uPure_c20221231__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember__srt--TitleOfIndividualAxis__custom--ThirdPartyMember_z5OfKpenkfF" title="Debt weighted average interest">22.4% per annum, respectively. The borrowings are denominated in HK$ and US$.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">(ii)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">As of December 31, 2023 and 2022, the Company obtained several unsecured long-term loans for two to five years. Interest rates ranged from <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_908_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20231231__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--LongTermDebtMember__srt--RangeAxis__srt--MinimumMember_zD4htGGNS4p7">12.0% to <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90A_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20231231__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--LongTermDebtMember__srt--RangeAxis__srt--MaximumMember_zMn92SexAGCg">24.0% and <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_903_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20221231__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--LongTermDebtMember__srt--RangeAxis__srt--MinimumMember_z68a48ER6sSj">2.5% to <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90D_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20221231__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--LongTermDebtMember__srt--RangeAxis__srt--MaximumMember_zIsYEHotlavj">24.0% per annum, respectively. As of December 31, 2023 and 2022, the weighted average interest rate of these borrowings was <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_902_eus-gaap--DebtWeightedAverageInterestRate_iI_pid_dp_uPure_c20231231__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember_zI00yyidTmP1" title="Debt weighted average interest">13.1% and <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90A_eus-gaap--DebtWeightedAverageInterestRate_iI_pid_dp_uPure_c20221231__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember_zESp6Sy7L6wi" title="Debt weighted average interest">15.5% per annum, respectively. The borrowings are denominated in HK$ and US$.</td></tr></table> As of December 31, 2023, the Company obtained loans from three members of management of the Company. A loan of HK$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_eus-gaap--LoansAssumed1_pn5n6_uHKD_c20230101__20231231__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember_zwsQSxmrerm9">4.7 million (equivalent to US$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_903_eus-gaap--LoansAssumed1_pn5n6_c20230101__20231231__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember_zeb0XVGAt4ee">0.6 million) has been provided by Mr. Takis Wong, the Chief Operating Officer, at an interest rate of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90D_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20231231__srt--TitleOfIndividualAxis__custom--MrTakisWongMember_zmsqNvQwWMg2">12% per annum. The loan is unsecured and repayable in full on April 4, 2024. Another loan of HK$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_908_eus-gaap--LoansAssumed1_pn5n6_uHKD_c20230101__20231231__srt--TitleOfIndividualAxis__custom--AlexanderKongMember__us-gaap--DebtInstrumentAxis__custom--LoanOneMember_z5olWjvwpM3e">2.5 million and <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90A_eus-gaap--LoansAssumed1_pn5n6_uHKD_c20230101__20231231__srt--TitleOfIndividualAxis__custom--AlexanderKongMember__us-gaap--DebtInstrumentAxis__custom--LoanTwoMember_zL3iijk8aXEe">9.8 million (equivalent to US$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90C_eus-gaap--LoansAssumed1_pn5n6_c20230101__20231231__srt--TitleOfIndividualAxis__custom--AlexanderKongMember__us-gaap--DebtInstrumentAxis__custom--LoanOneMember_zNb3sHjCUPab">0.3 million and US$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_902_eus-gaap--LoansAssumed1_pn5n6_c20230101__20231231__srt--TitleOfIndividualAxis__custom--AlexanderKongMember__us-gaap--DebtInstrumentAxis__custom--LoanTwoMember_zDv1Zx95wUQg">1.3 million) has been provided by Mr. Alexander Kong, the Chairman, at an interest rate of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20231231__srt--TitleOfIndividualAxis__custom--AlexanderKongMember_zKXuhlgkK4J9">12% per annum. The loan is unsecured and repayable in full on March 30 and June 30, 2024, respectively. Another loan of HK$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90F_eus-gaap--LoansAssumed1_pn5n6_uHKD_c20230101__20231231__srt--TitleOfIndividualAxis__custom--RonnieHuiMember_zTpWfLzb5gKf">3.6 million (equivalent to US$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_eus-gaap--LoansAssumed1_pn5n6_c20230101__20231231__srt--TitleOfIndividualAxis__custom--RonnieHuiMember_zktdRnTTjele">0.6 million) has been provided by Dr. Ronnie Hui, the Chief Executive Officer, at an interest rate of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_905_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20231231__srt--TitleOfIndividualAxis__custom--RonnieHuiMember_zXWsYsvSzEuj">12% per annum. The loan is unsecured and repayable on demand. The company is in negotiation to extend the above loans. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">(iii)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">As of December 31, 2023, the Company had a loan of US$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90E_eus-gaap--LoansAssumed1_pn4n6_c20230101__20231231__srt--TitleOfIndividualAxis__custom--MrTakisWongMember__dei--LegalEntityAxis__custom--NobleTackInternationalLimitedMember_zUpr83B07Ovh" title="Loans">2.05 million from Noble Tack International Limited, one of the shareholders of its subsidiary, Dynamic Indonesia Holdings Limited. The loan is unsecured, interest-free and repayable on demand.</td></tr><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif">(iv)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">As of December 31, 2023 and 2022, the Company had obtained a line of credit of US$5 million from Ripple Labs, Inc., one of the related parties of their subsidiary, Tranglo Sdn. Bhd. The loan is unsecured and has an interest rate of 12% per annum. Amount drawn down as of December 31, 2023 and 2022, was US$5 million and US$5 million respectively. The line of credit facility has a maturity of two years from the effective date of September 12, 2022. Ripple has the option of calling any drawdown on or after the first anniversary.</td></tr> </table>

8772710

8978390

11538357

12305279

9031383

4426000

2506974

7879279

0.150

0.240

0.150

0.240

0.226

0.224

0.120

0.240

0.025

0.240

0.131

0.155

4700000

600000

0.12

2500000

9800000

300000

1300000

0.12

3600000

600000

0.12

2050000.00

8700000

9300000

4655070

4591803

As of December 31, 2023, the long-term borrowings will be due according to the following schedule: SCHEDULE OF LONG TERM BORROWINGS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_490_20231231_zbwNt9XXQuYh" style="text-align: center"> </td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Principal amounts</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>For the year ending December 31,</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear_iI_maLTDzVqt_zN2rihPVGgve" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left">Within one year</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_maLTDzVqt_zFBO4B0RFDpa" style="vertical-align: bottom; background-color: White"> <td style="width: 50%; text-align: left">2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">9,031,383</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_iI_maLTDzVqt_zEUK6onJ1f0e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2025</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">466,188</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_iI_maLTDzVqt_zKkaLDyjvp0c" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2026</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_iI_maLTDzVqt_zY0vaCfI374e" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left">Within four years</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_iI_maLTDzVqt_z1T0v9yh4Tg6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">2027</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,040,786</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_iI_maLTDzVqt_zKrn3ZsrDlW3" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Within five years</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,040,786</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--LongTermDebt_iTI_mtLTDzVqt_z4mKm2Y0llIf" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">11,538,357</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

9031383

466188

2040786

11538357

12 Receivables factoring RECEIVABLE FACTORING The receivables factoring facility represents an interest-bearing loan for an amount of US$423,483 (2022: US$677,640) based on terms and conditions set out in the facility agreement dated January 10, 2019 and further revised on April 22, 2021. The loan is secured, bears an effective interest rate of <span id="xdx_90E_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_pid_dp_uPure_c20231231__us-gaap--TypeOfArrangementAxis__custom--FacilityAgreementMember_zcOtEzNTjM8j" title="Effective interest rate">10% (2022: <span id="xdx_900_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_pid_dp_uPure_c20221231__us-gaap--TypeOfArrangementAxis__custom--FacilityAgreementMember_zWasENUqyIg9" title="Effective interest rate">10%) per annum calculated on a daily rest basis at the end of the reporting period. Principal and interest are to be repaid within 120 (2022: 120) days from the date of each invoice. The weighted average interest rate as of December 31, 2023 and 2022 was 10.0% and 10.0% per annum, respectively. Interest expense during the years ended December 31, 2023 and 2022 was US$62,441 and US$76,496, respectively.

423483

677640

0.10

0.100

62441

76496

13 Accounts payable, accruals and other payables ACCOUNTS PAYABLE, ACCRUALS AND OTHER PAYABLES <p id="xdx_89F_eus-gaap--ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock_zW89Of5EjLVl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">Accounts payable, accruals and other payables consisted of the following: SCHEDULE OF ACCOUNTS PAYABLE AND OTHER PAYABLES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_495_20231231_zXPmuxRExDO7" style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_491_20221231_zZmLagSvkhDa" style="text-align: center"> </td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_40F_eus-gaap--AccountsPayableCurrentAndNoncurrent_iI_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 50%; text-align: left">Accounts payable</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">10,541</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">17,871</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_esrt--SafeguardingLiabilityPlatformOperatorCryptoAsset_iI_pp0p0_zPULGujhtBmh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Safeguarding liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,983,116</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,787,354</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Accruals</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,424,194</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,878,896</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--PrefundingFromRemittanceCustomers_iI_pp0p0_zN2xoizbWzN3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Prefunding from remittance customers</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">35,584,882</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">40,910,632</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--IncentivesReceivedForCreditCardProgram_iI_pp0p0_zSU2NcTfYFB9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Incentives received for credit card program</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">699,655</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">700,521</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--PrefundingFromAirtimeCustomers_iI_pp0p0_zNS3LyoHCpw2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Prefunding from airtime customers</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">758,419</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">874,889</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FinanceLeaseLiabilityCurrent_iI_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Current portion of finance lease liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--CashReceivedForSubscriptionOfConvertiblePromissoryNote_iI_pp0p0_zf4aFvCezy0e" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Cash received for the subscription of Convertible Promissory Note</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,056,765</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,058,005</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued interest</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,614,719</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,990,177</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--TaxesPayableCurrentAndNoncurrent_iI_pp0p0" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Tax payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">29,808</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,102</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--AccountsPayableOtherCurrentAndNoncurrent_iI_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Other payables</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">826,132</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">716,938</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--AccountsPayableAndOtherAccruedLiabilities_iTI_zLRpMCF1IZg6" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Accounts payable, accruals and other payables</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">53,988,231</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">58,946,385</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

<p id="xdx_89F_eus-gaap--ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock_zW89Of5EjLVl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">Accounts payable, accruals and other payables consisted of the following: SCHEDULE OF ACCOUNTS PAYABLE AND OTHER PAYABLES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_495_20231231_zXPmuxRExDO7" style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_491_20221231_zZmLagSvkhDa" style="text-align: center"> </td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_40F_eus-gaap--AccountsPayableCurrentAndNoncurrent_iI_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 50%; text-align: left">Accounts payable</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">10,541</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">17,871</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_esrt--SafeguardingLiabilityPlatformOperatorCryptoAsset_iI_pp0p0_zPULGujhtBmh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Safeguarding liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,983,116</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,787,354</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Accruals</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,424,194</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,878,896</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--PrefundingFromRemittanceCustomers_iI_pp0p0_zN2xoizbWzN3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Prefunding from remittance customers</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">35,584,882</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">40,910,632</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--IncentivesReceivedForCreditCardProgram_iI_pp0p0_zSU2NcTfYFB9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Incentives received for credit card program</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">699,655</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">700,521</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--PrefundingFromAirtimeCustomers_iI_pp0p0_zNS3LyoHCpw2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Prefunding from airtime customers</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">758,419</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">874,889</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FinanceLeaseLiabilityCurrent_iI_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Current portion of finance lease liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--CashReceivedForSubscriptionOfConvertiblePromissoryNote_iI_pp0p0_zf4aFvCezy0e" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Cash received for the subscription of Convertible Promissory Note</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,056,765</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,058,005</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued interest</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,614,719</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,990,177</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--TaxesPayableCurrentAndNoncurrent_iI_pp0p0" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Tax payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">29,808</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,102</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--AccountsPayableOtherCurrentAndNoncurrent_iI_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Other payables</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">826,132</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">716,938</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--AccountsPayableAndOtherAccruedLiabilities_iTI_zLRpMCF1IZg6" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Accounts payable, accruals and other payables</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">53,988,231</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">58,946,385</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

10541

17871

1983116 5787354

5424194

4878896

35584882 40910632 699655 700521 758419 874889 1056765 1058005

7614719

3990177

29808

11102

826132

716938

53988231

58946385

14 Convertible bonds CONVERTIBLE BONDS SCHEDULE OF CONVERTIBLE BONDS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_49D_20231231_zOGmGlX4nFIa" style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_49C_20221231_z2gQ6ay74Lu6" style="text-align: center"> </td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_406_eus-gaap--ConvertibleDebt_iI_hus-gaap--DebtInstrumentAxis__custom--ConvertibleBondAMember_zZCm6P4dVfS6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Convertible Bond A</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--ConvertibleDebt_iI_hus-gaap--DebtInstrumentAxis__custom--ConvertibleBondBMember_zGGbG8cNaQil" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Convertible Bond B</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--ConvertibleDebt_iI_hus-gaap--DebtInstrumentAxis__custom--ConvertibleBondCMember_znRTNt2wm2Mg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Convertible Bond C</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--ConvertibleDebt_iI_hus-gaap--DebtInstrumentAxis__custom--ConvertibleBondDMember_zYfExPCuFeZe" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">Convertible Bond D</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">10,000,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--ConvertibleDebt_iI_hus-gaap--DebtInstrumentAxis__custom--ConvertibleBondEMember_zjz3y9JeMkUc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Convertible Bond E</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">10,000,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--ConvertibleDebt_iI_zM332NaBLrw7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total principal</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,000,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--DebtInstrumentUnamortizedDiscount_iNI_di_zQq4nl4GpU28" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Less: unamortized debt discount</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(807,860</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--DebtInstrumentCarryingAmount_iI_zvcUQ2Nx1hy3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net carrying amount</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,192,140</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--LongTermDebtMaturitiesRepaymentsOfPrincipalWithinYear_iNI_di_zMWMxCxJ1u8g" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Less: maturing within one year</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(10,000,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">9,192,140</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--ConvertibleDebtNoncurrent_iI_zEeYcOLgJ1J1" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Convertible bonds</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Changes in total principal balance of convertible bond: SCHEDULE OF DEBT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td><td id="xdx_4B5_us-gaap--DebtInstrumentAxis_custom--ConvertibleBondDMember_zEBfaNh2R4i5" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_4B4_us-gaap--DebtInstrumentAxis_custom--ConvertibleBondEMember_zkkOtcEjFVR9" style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_4B5_zLAWX66rVxFe" style="text-align: center"> </td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Convertible Bond D</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Convertible Bond E</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; padding-bottom: 1.5pt; text-align: right"> Total</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_43D_c20230101__20231231_eus-gaap--ConvertibleDebt_iS_ze2rnJR9T2nh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%">Total principal balance as of December 31, 2022 and January 1, 2023</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 14%; font-weight: bold; text-align: right">10,000,000</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">10,000,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--RepaymentsOfConvertibleDebt_iN_di_znjT4svOaI91" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Repayment during the year</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DebtConversionConvertedInstrumentAmount1_iN_di_z5MVH5Gr1iD" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Conversion to non-convertible loan</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--ConvertibleBondReplacement_z3C78SKePEO5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Convertible Bond replacement</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(10,000,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">10,000,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_431_c20230101__20231231_eus-gaap--ConvertibleDebt_iE_zZl9UTslaHO2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total principal balance as of December 31, 2023</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">10,000,000</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">10,000,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> No gain or loss was recorded when issuing Convertible Bond D, as there has been no modification to the terms as compared to the original Convertible Bonds. Convertible Bond A, B and C On September 14, 2018, the Company entered into a subscription agreement with a subscriber to issue an aggregate principal amount of US$30,000,000 of secured guaranteed convertible bonds (“Convertible Bond A”). The bond bore interest at a rate of 12% per annum and matured on September 14, 2021. Principal amount of US$7,500,000 was redeemed on January 30, 2019. The Convertible Bond A is secured by the personal guarantee of a director and his shares in the Company. The bond holder could convert Convertible Bond A, fully or in part, into the Company’s shares, during the conversion period, defined as the period from the issue date to the maturity date or the date of a public listing of the Company’s shares (as defined in the subscription agreement), whichever is earlier. Convertible Bond A was convertible at an initial conversion price of US$12,870.50 per share as adjusted by certain conditions mentioned in the subscription agreement. The number of conversion shares to be issued was to be equal to the quotient obtained by dividing (i) the outstanding principal amount of the convertible bond in respect of which the bond holder has exercised its conversion right and unpaid accrued interest attributable to the principal amount (if the bond holder elected) by (ii) the above mentioned conversion price. The Convertible Bond B is secured by the personal guarantee of a director and his shares in the Company. SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.5in">14</td> <td style="text-align: justify">Convertible bonds (Continued)</td></tr> </table> Convertible Bond A, B and C (continued) On September 14, 2021, the Company and the bond holder entered into an amended and restated convertible bonds instrument with principal amount of US$27,000,000 15% secured guaranteed convertible bonds to reflect the new terms and extend the maturity of Convertible Bond A (“Convertible Bond B”) to September 14, 2023. The principal amount of US$27,000,000 was derived from the remaining principal of US$22,500,000 from Convertible Bond A and accrued interest of US$4,500,000. Based on the restated terms, the bond holder shall have the right, at its option, to require the Company to redeem US$18,000,000 principal amount of Convertible Bond B at any time on or before December 14, 2021. By a redemption notice dated December 6, 2021, the bond holder applied to exercise the redemption right, on December 24, 2021. The Company then agreed to amend and supplement Convertible Bond B by entering into the supplemental deed signed on December 20, 2021. The supplemental deed stipulates that the US$18,000,000 redemption right will be exercisable in three stages: i) redeem at least US$<span id="xdx_909_ecustom--DebtRedemptionAmount_iI_c20210914__us-gaap--DebtInstrumentAxis__custom--ConvertibleBondBMember__us-gaap--DebtInstrumentRedemptionPeriodAxis__us-gaap--DebtInstrumentRedemptionPeriodOneMember_zwmnN0AcFIYk">7,000,000 on or before December 29, 2021; ii) redeem up to US$<span id="xdx_903_ecustom--DebtRedemptionAmount_iI_c20210914__us-gaap--DebtInstrumentAxis__custom--ConvertibleBondBMember__us-gaap--DebtInstrumentRedemptionPeriodAxis__us-gaap--DebtInstrumentRedemptionPeriodTwoMember_zrbuIJ5svyhb" title="Debt redemption amount">5,000,000 on or before January 31, 2022; iii) redeem remaining amount on or before June 24, 2022. The Company and the bond holder agreed to compensate the bond holder for this revised redemption schedule by the payment of increased interest of 24% per annum for the unpaid principal of the convertible bonds calculated from the original redemption date to the new redemption dates. On December 24, 2021, the Company redeemed US$7 million and issued an additional bond of US$1 million (“Convertible Bond C”), which will also mature on September 14, 2023. The Company has further redeemed US$ 1 million, US$ 1.5 million and US$ 1 million principal amounts of Convertible Bond B on January 31, February 8 and February 28 2022, respectively. On December 9, 2022, the Company and the bond holder entered into a loan agreement to convert US$7,500,000 principal amount of Convertible Bond B to a loan at 24% annual interest rate, maturing in 1 year. Convertible Bond D On December 9, 2022, the Company and the bond holder entered into a convertible bonds instrument with principal amount of US$10,000,000 (“Convertible Bond D”) to replace Convertible Bond B and Convertible Bond C, with no change in the terms. Both Convertible Bond B and C were convertible at an initial conversion price of US$6.21335 per share as mentioned in the subscription agreement. The total number of shares converted will subject to the total outstanding amount as at conversion date. Convertible Bond E On September 14, 2023, the Company and the bond holder entered into a convertible bonds instrument with principal amount of US$10,000,000 (“Convertible Bond E”) to replace Convertible Bond D, with no change in the terms. Convertible Bond B was considered as an issuance of new debt because the new terms were substantially different from Convertible Bond A. The loss on extinguishment of Convertible Bond A is US$119,155. In accounting for the issuance of the convertible bonds, the Company determined that, as the embedded conversion feature is indexed to the Company’s stock, the conversion option is eligible for the scope exception of ASC 815-10-15-74(a), and does not have to be bifurcated from the debt host and accounted for as a derivative. The Company determined that each of the above convertible bonds included a beneficial conversion feature (“BCF”). A BCF exists when the conversion price of a share is less than the fair value of a share on the date the convertible bond is issued. This is known as o the intrinsic value of the feature, and the difference between these two amounts is recorded as additional paid-in capital and as a debt discount in the balance sheets. The Company amortizes the discount to interest expense over the life of the underlying debt in the statements of operations and comprehensive loss. If the debt is retired early, the associated debt discount is then recognized immediately as interest expense in the statements of operations and comprehensive loss. Total debt discount of US$2,134,031, US$6,634,030 and US$49,353 was recorded at initial recognition for Convertible Bond A, Convertible Bond B and Convertible Bond C, respectively. For the years ended December 31, 2022 and 2021, the amortization of the discount on convertible bonds was US$<span id="xdx_90B_eus-gaap--AmortizationOfDebtDiscountPremium_c20220101__20221231__us-gaap--DebtInstrumentAxis__custom--ConvertibleBondMember_zICG8Aj9Xgud" title="Amortization of the discount on convertible bonds">3,438,951 and US$<span id="xdx_906_eus-gaap--AmortizationOfDebtDiscountPremium_c20210101__20211231__us-gaap--DebtInstrumentAxis__custom--ConvertibleBondMember_ztsHTUqYjXQe" style="font-family: Times New Roman, Times, Serif; font-size: 10pt" title="Amortization of the discount on convertible bonds">2,814,474, respectively. No debt discount has been recorded for Bond E as Intrinsic value is determined to be zero on the date the convertible bond is issued. SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

SCHEDULE OF CONVERTIBLE BONDS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_49D_20231231_zOGmGlX4nFIa" style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_49C_20221231_z2gQ6ay74Lu6" style="text-align: center"> </td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_406_eus-gaap--ConvertibleDebt_iI_hus-gaap--DebtInstrumentAxis__custom--ConvertibleBondAMember_zZCm6P4dVfS6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Convertible Bond A</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--ConvertibleDebt_iI_hus-gaap--DebtInstrumentAxis__custom--ConvertibleBondBMember_zGGbG8cNaQil" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Convertible Bond B</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--ConvertibleDebt_iI_hus-gaap--DebtInstrumentAxis__custom--ConvertibleBondCMember_znRTNt2wm2Mg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Convertible Bond C</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--ConvertibleDebt_iI_hus-gaap--DebtInstrumentAxis__custom--ConvertibleBondDMember_zYfExPCuFeZe" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">Convertible Bond D</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">10,000,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--ConvertibleDebt_iI_hus-gaap--DebtInstrumentAxis__custom--ConvertibleBondEMember_zjz3y9JeMkUc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Convertible Bond E</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">10,000,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--ConvertibleDebt_iI_zM332NaBLrw7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total principal</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,000,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--DebtInstrumentUnamortizedDiscount_iNI_di_zQq4nl4GpU28" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Less: unamortized debt discount</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(807,860</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--DebtInstrumentCarryingAmount_iI_zvcUQ2Nx1hy3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net carrying amount</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,192,140</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--LongTermDebtMaturitiesRepaymentsOfPrincipalWithinYear_iNI_di_zMWMxCxJ1u8g" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Less: maturing within one year</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(10,000,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">9,192,140</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--ConvertibleDebtNoncurrent_iI_zEeYcOLgJ1J1" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Convertible bonds</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

10000000

807860

10000000

9192140

10000000 -9192140

Changes in total principal balance of convertible bond: SCHEDULE OF DEBT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td><td id="xdx_4B5_us-gaap--DebtInstrumentAxis_custom--ConvertibleBondDMember_zEBfaNh2R4i5" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_4B4_us-gaap--DebtInstrumentAxis_custom--ConvertibleBondEMember_zkkOtcEjFVR9" style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_4B5_zLAWX66rVxFe" style="text-align: center"> </td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Convertible Bond D</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Convertible Bond E</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; padding-bottom: 1.5pt; text-align: right"> Total</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_43D_c20230101__20231231_eus-gaap--ConvertibleDebt_iS_ze2rnJR9T2nh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%">Total principal balance as of December 31, 2022 and January 1, 2023</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 14%; font-weight: bold; text-align: right">10,000,000</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">10,000,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--RepaymentsOfConvertibleDebt_iN_di_znjT4svOaI91" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Repayment during the year</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DebtConversionConvertedInstrumentAmount1_iN_di_z5MVH5Gr1iD" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Conversion to non-convertible loan</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--ConvertibleBondReplacement_z3C78SKePEO5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Convertible Bond replacement</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(10,000,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">10,000,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_431_c20230101__20231231_eus-gaap--ConvertibleDebt_iE_zZl9UTslaHO2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total principal balance as of December 31, 2023</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">10,000,000</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">10,000,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

10000000

-10000000 10000000

10000000

30000000

0.12

2021-09-14

7500000

12870.50

27000000

0.15

2023-09-14

27000000

22500000

4500000

18000000

By a redemption notice dated December 6, 2021, the bond holder applied to exercise the redemption right, on December 24, 2021. The Company then agreed to amend and supplement Convertible Bond B by entering into the supplemental deed signed on December 20, 2021. The supplemental deed stipulates that the US$18,000,000 redemption right will be exercisable in three stages

7000000 5000000

0.24

7000000 1000000 1000000 1500000 1000000

7500000

0.24

10000000

6.21335

10000000

119155

2134031

6634030

49353

3438951

2814474

15 Revenue REVENUE SCHEDULE OF REVENUE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_495_20230101__20231231_zBbShLHjOWnj" style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_490_20220101__20221231_zA1m3tPEEiq7" style="text-align: center"> </td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Years end December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Timing of revenue recognition - at point in time</td><td> </td> <td colspan="2" style="text-align: right">- </td><td> </td><td> </td> <td colspan="2" style="text-align: right">- </td><td> </td></tr> <tr id="xdx_40D_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--RemittanceServicesMember_zoQnWvBjeyM7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Remittance services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--FiatRemittanceServiceMember_zCCo9CowLB14" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 50%; text-align: left">Fiat remittance</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">25,287,487</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">25,812,304</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--ODLRemittanceMember_zvXxDqc6eTA2" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">ODL remittance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,407,709</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">901,847</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--SalesOfAirtimeMember_zc0exI7N2js3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Sales of Airtime</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">26,398,707</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">28,501,152</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__us-gaap--ServiceOtherMember_zGlHzyRpBMSl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Other services</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">161,458</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">285,614</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zVyrMRK83yc8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Revenue</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">53,255,361</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">55,500,917</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

SCHEDULE OF REVENUE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_495_20230101__20231231_zBbShLHjOWnj" style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_490_20220101__20221231_zA1m3tPEEiq7" style="text-align: center"> </td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Years end December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Timing of revenue recognition - at point in time</td><td> </td> <td colspan="2" style="text-align: right">- </td><td> </td><td> </td> <td colspan="2" style="text-align: right">- </td><td> </td></tr> <tr id="xdx_40D_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--RemittanceServicesMember_zoQnWvBjeyM7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Remittance services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--FiatRemittanceServiceMember_zCCo9CowLB14" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 50%; text-align: left">Fiat remittance</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">25,287,487</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">25,812,304</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--ODLRemittanceMember_zvXxDqc6eTA2" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">ODL remittance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,407,709</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">901,847</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--SalesOfAirtimeMember_zc0exI7N2js3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Sales of Airtime</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">26,398,707</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">28,501,152</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__us-gaap--ServiceOtherMember_zGlHzyRpBMSl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Other services</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">161,458</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">285,614</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zVyrMRK83yc8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Revenue</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">53,255,361</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">55,500,917</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

25287487

25812304

1407709

901847

26398707

28501152

161458

285614

53255361

55500917

16 Defined contribution plans DEFINED CONTRIBUTION PLANS The Company contributes to an employment provident fund in respect of its employees in Hong Kong, Malaysia, and a central provision fund run by the Singapore government in respect of its employees in Singapore. The expenses related to these plans were US$714,855 and US$611,884 for the years ended December 31, 2023 and 2022, respectively.

714855

611884

17 Income tax INCOME TAX <p id="xdx_89B_eus-gaap--ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock_z1TL2ER3s1xd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">The Company’s loss before income tax consists of: SCHEDULE OF INCOME BEFORE INCOME TAX <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_497_20230101__20231231_z42gZVpal6Jc" style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_492_20220101__20221231_zNBN78f2giQi" style="text-align: center"> </td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Years ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_407_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_hsrt--StatementGeographicalAxis__country--MY_z62b0HpRiYEh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Malaysia</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">2,042,746</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">1,606,867</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_hsrt--StatementGeographicalAxis__country--ID_zXSQFNfzO4o9" style="vertical-align: bottom; background-color: White"> <td>Indonesia</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(786,490</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,609,362</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_hsrt--StatementGeographicalAxis__country--HK_zMqVd7qni2f5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Hong Kong</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(15,141,598</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(18,818,064</td><td style="text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_hsrt--StatementGeographicalAxis__custom--OthersMember_z8Iy8a7cC7ge" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Others</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(8,963</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(10,096</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_z1WWzJETzmVa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Loss before income tax</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(13,894,305</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(15,611,931</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> The Company is incorporated in Cayman Islands and is not subject to corporate income tax under its relevant regulations. For the Company’s subsidiaries incorporated in Hong Kong, they are subject to a corporate tax rate of 16.5% on the assessable profits arising from Hong Kong. For the Company’s subsidiaries incorporated in Malaysia, they are subject to corporate tax rate on 24% on the assessable profits arising from Malaysia. For the Company’s subsidiaries incorporated in Indonesia, they are subject to a corporate tax rate of 22% on the assessable profits arising from Indonesia. For the Company’s subsidiary incorporated in Singapore, it is subject to a corporate tax rate of 17% on the assessable profits arising from Singapore. No provision for Singapore profits tax has been made in the consolidated statements of operations and comprehensive loss for the years ended December 31, 2023 and 2022. For the Company’s subsidiary incorporated in United Kingdom, it is subject to a corporate tax rate of 19% on the assessable profits arising from United Kingdom. No provision for United Kingdom profits tax has been made in the consolidated statements of operations and comprehensive loss for the years ended December 31, 2023 and 2022. SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.5in">17</td> <td style="text-align: justify">Income tax (Continued)</td></tr> </table> <p id="xdx_896_eus-gaap--ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_zG0E0Pcwg2M4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">Income tax expense consists of: SCHEDULE OF COMPONENTS OF INCOME TAX EXPENSE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_49A_20230101__20231231_zavBzD0MfKk9" style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_498_20220101__20221231_zFgjvkhGSZu7" style="text-align: center"> </td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Years ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_403_eus-gaap--CurrentIncomeTaxExpenseBenefit_maITEBzWUz_zwHL5qTqW6ed" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Income tax expense</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">797,147</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">507,740</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredIncomeTaxExpenseBenefit_maITEBzWUz_zGZsUZboZ8ki" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Deferred income tax benefit</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(273,666</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(393,958</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--IncomeTaxExpenseBenefit_iT_mtITEBzWUz_zB3dXJeMpxw5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Income tax expense benefit</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">523,481</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">113,782</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> A reconciliation of the income tax expense to the amount computed by applying the current statutory tax rate to the income before income tax in the consolidated statements of operations and comprehensive loss is as follows: SCHEDULE OF EFFECTIVE INCOME TAX RATE RECONCILIATION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_49D_20230101__20231231_z13ctU6hqsZ" style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_49D_20220101__20221231_zlEyc9Rfb5Q3" style="text-align: center"> </td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Years ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_400_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_zEyZuLw3PSC1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Income before income tax</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">(13,894,305</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">(15,611,931</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_405_ecustom--EffectiveIncomeTaxRateReconciliationTaxCalculatedAtHongKongProfitsTaxRate_maITEBzY8m_z7JobPjIaxA5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Tax calculated at Hong Kong profits tax rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,292,560</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,576,217</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--IncomeTaxReconciliationForeignIncomeTaxRateDifferential_maITEBzY8m_zA6IWJDBSiG8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Effect of different tax rates applicable to different jurisdictions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,637,665</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,244,573</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--IncomeTaxReconciliationTaxCredits_iN_pp0p0_di_msITEBzY8m_z4BJEBhD66y8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Income not subject to tax</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(48,307</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(567,161</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--IncomeTaxReconciliationNondeductibleExpense_maITEBzY8m_z9AY0pn7AIWk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Non-deductible expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">132,796</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">658,533</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance_maITEBzY8m_zwsXXBd89pGe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Change in valuation allowance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">846,827</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">245,220</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--IncomeTaxReconciliationPriorYearIncomeTaxes_maITEBzY8m_zOL8ZOY9YTE9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Underprovision of current tax in the previous financial year</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">125,217</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">48,182</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--IncomeTaxReconciliationTaxEffectOnDeductibleTemporaryDifferences_iI_maITEBzY8m_zgcPN6pZCRH6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Tax effect on deductible temporary differences</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,918</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">46,624</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--IncomeTaxReconciliationOtherAdjustments_maITEBzY8m_z0anEwsGjLL3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Others</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">113,925</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">14,028</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--IncomeTaxExpenseBenefit_iT_mtITEBzY8m_zBGdju7p6Wrl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Income tax</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">523,481</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">113,782</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The Company’s deferred tax assets and liabilities as of December 31, 2023 and 2022 are attributable to the following: SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-style: italic; text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_494_20231231_zyKUQDn5NTS8" style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_49D_20221231_zYjVUQBXXioe" style="text-align: center"> </td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-style: italic; text-align: left">Deferred tax assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_zblE4RDXCijk" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">Tax losses carried forward</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">8,266,115</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">7,526,178</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--DeferredTaxAssetsPropertyPlantAndEquipment_iNI_di_z9wonFXwF4k9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(65,050</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(90,113</td><td style="text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities_iI_z4iCq1zsKkC8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">296,576</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">354,988</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--DeferredTaxAssetsOther_iI_zO2KlJqUmvlc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Others</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">54,560</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">39,290</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--DeferredTaxAssetsGross_iTI_zyWetsKiuRMc" style="vertical-align: bottom; background-color: White"> <td>Deferred tax gross</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,552,201</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,830,343</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_di_zY6Jv0EIFPKe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Valuation allowance</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(7,887,313</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(7,061,726</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--DeferredTaxAssetsNet_iTI_zoNI8EIg6En7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total deferred tax assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">664,888</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">768,617</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-style: italic; text-align: left">Deferred tax liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--DeferredTaxLiabilitiesPropertyPlantAndEquipment_iNI_zNuxFdllBCRf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Fixed assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets_iNI_di_z00rdfGLLOkl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Intangible assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,184,987</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,554,721</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--DeferredTaxLiabilitiesOther_iNI_zHfhjfzxBY6d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Others</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(61,773</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(61,622</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--DeferredIncomeTaxLiabilities_iNTI_di_zOeGSFhyGqSi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total deferred tax liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,246,760</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,616,343</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--DeferredTaxLiabilities_iNTI_di_z8eKooTtzYig" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Net deferred tax liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(581,872</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(847,727</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.5in">17</td> <td style="text-align: justify">Income tax (Continued)</td></tr> </table> As of December 31, 2023 and 2022, management has recorded a valuation allowance on certain deferred tax assets where management believes that after considering all of the available evidence, it is more likely than not that some portion or all will not be realized in the foreseeable future. The ultimate realization of deferred tax assets depends on the generation of future taxable income in which those temporary differences and carry forwards become deductible. As of December 31, 2023 and 2022, the accumulated tax losses of subsidiaries can be carried forward to offset against future taxable profits. The tax loss for the subsidiary incorporated in Hong Kong is US$46,778,609 and US$41,238,871 as of December 31, 2023 and 2022, respectively, which can be carried forward indefinitely. As of December 31, 2023 and 2022, the accumulated tax losses of subsidiaries can be carried forward to offset against future taxable profits. The tax loss for the subsidiary incorporated in Singapore is US$94,611 and US$385,862 as of December 31, 2023 and 2022, respectively, which can be carried forward indefinitely. The tax loss in the subsidiary incorporated in United Kingdom is US$517,015 and US$566,925 as of December 31, 2023 and 2022, respectively, which can be carried forward indefinitely. The tax loss in the subsidiaries incorporated in Indonesia is US$2,349,921 and US$2,605,545 as of December 31, 2023 and 2022, respectively, which will expire, if unused, in the year ending December 31, 2023. The tax loss in the subsidiaries incorporated in Malaysia is US$8,439 and US$444,983 as of December 31, 2023 and 2022, respectively, which will expire, if unused, in the year ending December 31, 2031.

<p id="xdx_89B_eus-gaap--ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock_z1TL2ER3s1xd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">The Company’s loss before income tax consists of: SCHEDULE OF INCOME BEFORE INCOME TAX <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_497_20230101__20231231_z42gZVpal6Jc" style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_492_20220101__20221231_zNBN78f2giQi" style="text-align: center"> </td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Years ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_407_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_hsrt--StatementGeographicalAxis__country--MY_z62b0HpRiYEh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Malaysia</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">2,042,746</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">1,606,867</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_hsrt--StatementGeographicalAxis__country--ID_zXSQFNfzO4o9" style="vertical-align: bottom; background-color: White"> <td>Indonesia</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(786,490</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,609,362</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_hsrt--StatementGeographicalAxis__country--HK_zMqVd7qni2f5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Hong Kong</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(15,141,598</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(18,818,064</td><td style="text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_hsrt--StatementGeographicalAxis__custom--OthersMember_z8Iy8a7cC7ge" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Others</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(8,963</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(10,096</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_z1WWzJETzmVa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Loss before income tax</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(13,894,305</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(15,611,931</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table>

2042746

1606867

-786490

1609362

-15141598

-18818064

-8963

-10096

-13894305

-15611931

0.165

0.24

0.22

0.17

0.19

<p id="xdx_896_eus-gaap--ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_zG0E0Pcwg2M4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">Income tax expense consists of: SCHEDULE OF COMPONENTS OF INCOME TAX EXPENSE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_49A_20230101__20231231_zavBzD0MfKk9" style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_498_20220101__20221231_zFgjvkhGSZu7" style="text-align: center"> </td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Years ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_403_eus-gaap--CurrentIncomeTaxExpenseBenefit_maITEBzWUz_zwHL5qTqW6ed" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Income tax expense</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">797,147</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">507,740</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredIncomeTaxExpenseBenefit_maITEBzWUz_zGZsUZboZ8ki" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Deferred income tax benefit</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(273,666</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(393,958</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--IncomeTaxExpenseBenefit_iT_mtITEBzWUz_zB3dXJeMpxw5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Income tax expense benefit</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">523,481</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">113,782</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

797147

507740

-273666

-393958

523481

113782

A reconciliation of the income tax expense to the amount computed by applying the current statutory tax rate to the income before income tax in the consolidated statements of operations and comprehensive loss is as follows: SCHEDULE OF EFFECTIVE INCOME TAX RATE RECONCILIATION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_49D_20230101__20231231_z13ctU6hqsZ" style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_49D_20220101__20221231_zlEyc9Rfb5Q3" style="text-align: center"> </td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Years ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_400_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_zEyZuLw3PSC1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Income before income tax</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">(13,894,305</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">(15,611,931</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_405_ecustom--EffectiveIncomeTaxRateReconciliationTaxCalculatedAtHongKongProfitsTaxRate_maITEBzY8m_z7JobPjIaxA5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Tax calculated at Hong Kong profits tax rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,292,560</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,576,217</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--IncomeTaxReconciliationForeignIncomeTaxRateDifferential_maITEBzY8m_zA6IWJDBSiG8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Effect of different tax rates applicable to different jurisdictions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,637,665</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,244,573</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--IncomeTaxReconciliationTaxCredits_iN_pp0p0_di_msITEBzY8m_z4BJEBhD66y8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Income not subject to tax</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(48,307</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(567,161</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--IncomeTaxReconciliationNondeductibleExpense_maITEBzY8m_z9AY0pn7AIWk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Non-deductible expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">132,796</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">658,533</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance_maITEBzY8m_zwsXXBd89pGe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Change in valuation allowance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">846,827</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">245,220</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--IncomeTaxReconciliationPriorYearIncomeTaxes_maITEBzY8m_zOL8ZOY9YTE9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Underprovision of current tax in the previous financial year</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">125,217</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">48,182</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--IncomeTaxReconciliationTaxEffectOnDeductibleTemporaryDifferences_iI_maITEBzY8m_zgcPN6pZCRH6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Tax effect on deductible temporary differences</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,918</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">46,624</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--IncomeTaxReconciliationOtherAdjustments_maITEBzY8m_z0anEwsGjLL3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Others</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">113,925</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">14,028</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--IncomeTaxExpenseBenefit_iT_mtITEBzY8m_zBGdju7p6Wrl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Income tax</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">523,481</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">113,782</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

-13894305

-15611931

-2292560 -2576217

1637665

2244573

48307

567161

132796

658533

846827

245220

125217

48182

7918 46624

113925

14028

523481

113782

The Company’s deferred tax assets and liabilities as of December 31, 2023 and 2022 are attributable to the following: SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-style: italic; text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_494_20231231_zyKUQDn5NTS8" style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_49D_20221231_zYjVUQBXXioe" style="text-align: center"> </td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-style: italic; text-align: left">Deferred tax assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_zblE4RDXCijk" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">Tax losses carried forward</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">8,266,115</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">7,526,178</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--DeferredTaxAssetsPropertyPlantAndEquipment_iNI_di_z9wonFXwF4k9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(65,050</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(90,113</td><td style="text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities_iI_z4iCq1zsKkC8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">296,576</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">354,988</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--DeferredTaxAssetsOther_iI_zO2KlJqUmvlc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Others</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">54,560</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">39,290</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--DeferredTaxAssetsGross_iTI_zyWetsKiuRMc" style="vertical-align: bottom; background-color: White"> <td>Deferred tax gross</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,552,201</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,830,343</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_di_zY6Jv0EIFPKe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Valuation allowance</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(7,887,313</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(7,061,726</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--DeferredTaxAssetsNet_iTI_zoNI8EIg6En7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total deferred tax assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">664,888</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">768,617</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-style: italic; text-align: left">Deferred tax liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--DeferredTaxLiabilitiesPropertyPlantAndEquipment_iNI_zNuxFdllBCRf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Fixed assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets_iNI_di_z00rdfGLLOkl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Intangible assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,184,987</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,554,721</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--DeferredTaxLiabilitiesOther_iNI_zHfhjfzxBY6d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Others</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(61,773</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(61,622</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--DeferredIncomeTaxLiabilities_iNTI_di_zOeGSFhyGqSi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total deferred tax liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,246,760</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,616,343</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--DeferredTaxLiabilities_iNTI_di_z8eKooTtzYig" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Net deferred tax liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(581,872</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(847,727</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table>

8266115

7526178

65050

90113

296576

354988

54560

39290

8552201

7830343

7887313

7061726

664888

768617

1184987

1554721

-61773

-61622

1246760

1616343

581872

847727

46778609

41238871

94611

385862

517015

566925

2349921

2605545

8439

444983

18 Segments SEGMENTS SCHEDULE OF SEGMENT REPORTING FOR REVENUE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center; font-weight: bold"> </td><td style="text-align: center"> </td> <td colspan="2" id="xdx_495_20230101__20231231_zrZfnszt5fS9" style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td colspan="2" id="xdx_499_20220101__20221231_ziEbjuKJ9vLb" style="text-align: center"> </td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Years ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Revenue</td><td> </td> <td colspan="2" style="text-align: right">- </td><td> </td><td> </td> <td colspan="2" style="text-align: right">- </td><td> </td></tr> <tr id="xdx_404_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hus-gaap--StatementBusinessSegmentsAxis__custom--RemittanceServicesMember_zqpT9ATO0tQf" style="vertical-align: bottom; background-color: White"> <td style="width: 50%; text-align: left">Remittance services</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">26,695,196</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">26,714,151</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hus-gaap--StatementBusinessSegmentsAxis__custom--SalesOfAirtimeMember_zUAr3YHlGIdd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Sales of Airtime</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">26,398,707</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">28,501,152</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hus-gaap--StatementBusinessSegmentsAxis__custom--OtherServicesMember_zTQAW41JXj67" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Other services</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">161,458</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">285,614</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zRygorg4YYea" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Revenue</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">53,255,361</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">55,500,917</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Years ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Cost of sales</td><td> </td> <td colspan="2" style="text-align: right">- </td><td> </td><td> </td> <td colspan="2" style="text-align: right">- </td><td> </td></tr> <tr id="xdx_404_eus-gaap--CostOfGoodsAndServicesSold_iN_di_hus-gaap--StatementBusinessSegmentsAxis__custom--RemittanceServicesMember_zVYydPCH3Eg" style="vertical-align: bottom; background-color: White"> <td style="width: 50%; text-align: left">Remittance services</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">(11,375,525</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">(13,268,205</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_408_eus-gaap--CostOfGoodsAndServicesSold_iN_di_hus-gaap--StatementBusinessSegmentsAxis__custom--SalesOfAirtimeMember_zFbZCDSe3794" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Sales of Airtime</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(24,206,112</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(26,370,613</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--CostOfGoodsAndServicesSold_iN_di_hus-gaap--StatementBusinessSegmentsAxis__custom--OtherServicesMember_zCFwVaIEW9ai" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Other services</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(317,419</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(242,129</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--CostOfGoodsAndServicesSold_iN_di_zv0sYk651qHk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Cost of sales</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(35,899,057</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(39,880,947</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Years ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Gross Profit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">- </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">- </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--GrossProfit_hus-gaap--StatementBusinessSegmentsAxis__custom--RemittanceServicesMember_zZhwynPAqjEb" style="vertical-align: bottom; background-color: White"> <td style="width: 50%; text-align: left">Remittance services</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">15,319,671</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">13,445,946</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--GrossProfit_hus-gaap--StatementBusinessSegmentsAxis__custom--SalesOfAirtimeMember_zcIo0M5nyJPl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Sales of Airtime</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,192,595</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,130,539</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--GrossProfit_hus-gaap--StatementBusinessSegmentsAxis__custom--OtherServicesMember_zs9LdmOSUEK5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Other services</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(155,962</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">43,485</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--GrossProfit_zFyx57BJ0EN8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Gross Profit</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">17,356,304</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">15,619,970</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.5in">18</td> <td style="text-align: justify">Segments (Continued)</td></tr> </table> <p id="xdx_899_ecustom--ScheduleOfExpenditureForAdditionsToLongLivedAssetsOtherThanGoodwillAndAcquiredIntangibleAssetsTableTextBlock_zJB6JHnzG7Od" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify">The following table sets forth the Expenditures for additions to long-lived assets other than goodwill and acquired intangible assets: SCHEDULE FOR ADDITIONS TO LONG-LIVED ASSETS OTHER THAN GOODWILL AND ACQUIRED INTANGIBLE ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_49F_20230101__20231231_z2mC2rahjKca" style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_492_20220101__20221231_z7VIutHk0jeg" style="text-align: center"> </td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_401_ecustom--ExpendituresForAdditionsToLongLivedAssetsExcludingGoodwillAndAcquiredIntangibleAssets_hus-gaap--StatementBusinessSegmentsAxis__custom--RemittanceServicesExpenseMember_zWhoS6LepKUd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 50%; text-align: left">Remittance services expense</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">302,950</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">532,457</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--ExpendituresForAdditionsToLongLivedAssetsExcludingGoodwillAndAcquiredIntangibleAssets_hus-gaap--StatementBusinessSegmentsAxis__custom--SalesOfAirtimeMember_zMcX9byhFvCg" style="vertical-align: bottom; background-color: White"> <td>Sales of Airtime</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--ExpendituresForAdditionsToLongLivedAssetsExcludingGoodwillAndAcquiredIntangibleAssets_hus-gaap--StatementBusinessSegmentsAxis__custom--OtherServicesMember_zWX7fVlLuLbb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Other services</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--ExpendituresForAdditionsToLongLivedAssetsExcludingGoodwillAndAcquiredIntangibleAssets_ziPeogRmuuEa" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Expenditure for additions to long-lived assets other than goodwill and acquired intangible assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">302,950</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">532,457</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_894_eus-gaap--ScheduleOfEntityWideDisclosureOnGeographicAreasLongLivedAssetsInIndividualForeignCountriesByCountryTextBlock_zAiKDikFFt2g" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify">The following table sets forth the revenues by geographical area: SCHEDULE OF GEOGRAPHICAL INFORMATION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center; font-weight: bold"> </td><td style="text-align: center"> </td> <td colspan="2" id="xdx_496_20230101__20231231_zWDlvfFSYBR5" style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td colspan="2" id="xdx_498_20220101__20221231_z3lWhsK4Uke8" style="text-align: center"> </td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Years ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Revenue</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_406_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--StatementGeographicalAxis__country--HK_zLNkchYPtPIg" style="vertical-align: bottom; background-color: White"> <td style="width: 50%; text-align: left">Hong Kong</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">9,726,364</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">8,647,764</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--StatementGeographicalAxis__country--MY_z7Pns4oyviSi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Malaysia</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">29,317,906</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">36,742,314</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--StatementGeographicalAxis__country--ID_zgwZ1XfpnK49" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Indonesia</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">14,211,091</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">10,110,839</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zKN2RWUJ8AOg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Revenue</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">53,255,361</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">55,500,917</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The following table sets forth the long-lived assets other than goodwill and intangible assets by geographical area: SCHEDULE OF LONG LIVED ASSETS GEOGRAPHICAL INFORMATION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_49C_20231231_z9hiEaPDIhU" style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_498_20221231_zIfzDskgPWJa" style="text-align: center"> </td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Long-lived assets other than goodwill and acquired intangible assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--NoncurrentAssets_iI_hsrt--StatementGeographicalAxis__country--HK_zLNG502W32F" style="vertical-align: bottom; background-color: White"> <td style="width: 50%; text-align: left">Hong Kong</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">4,368,106</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">3,647,913</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--NoncurrentAssets_iI_hsrt--StatementGeographicalAxis__country--MY_zKWG8ebXInhi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Malaysia</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,005,601</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,276,989</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--NoncurrentAssets_iI_hsrt--StatementGeographicalAxis__country--ID_zbXuOv3rBEAh" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Indonesia</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">62,056</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">121,698</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--NoncurrentAssets_iI_maLAOTGzX9N_zm6xup4DDv5g" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Long-Lived Assets</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,435,763</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,046,600</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Add: Non-disclose items</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--InvestmentInEquitySecurity_iI_maLAOTGzX9N_zQnIY3TQ7gc9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Investment in an equity security</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">100,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">100,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--DeferredTaxAssets_iI_maLAOTGzX9N_zDnmqMQSC9s8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred tax assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">972,984</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">768,617</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--Goodwill_iI_maLAOTGzX9N_zHUgFdy8pr5a" style="vertical-align: bottom; background-color: White"> <td>Goodwill</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">27,001,383</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">27,001,383</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--AcquiredIntangibleAssets_iI_maLAOTGzX9N_zlZaXhdlbZh3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Acquired intangible assets</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,926,674</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,467,231</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_405_ecustom--LonglivedAssetsOtherThanGoodwillAndAcquiredIntangibleAssets8239_iTI_mtLAOTGzX9N_z7SqG1ktr5bk" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Long-lived assets other than goodwill and acquired intangible assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">33,001,041</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">39,383,831</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.5in">18</td> <td style="text-align: justify">Segments (Continued)</td></tr> </table> The following table sets forth the goodwill by reportable segments: SCHEDULE OF GOODWILL REPORTABLE SEGMENTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_497_20231231_zfLQLkPUXj9a" style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_49F_20221231_z4Wo1Egmbyv" style="text-align: center"> </td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_40B_eus-gaap--Goodwill_iI_hus-gaap--StatementBusinessSegmentsAxis__custom--RemittanceServicesExpenseMember_zVgBOoO94bIj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 50%; text-align: left">Remittance services</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">12,921,592</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">12,921,592</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--Goodwill_iI_hus-gaap--StatementBusinessSegmentsAxis__custom--SalesOfAirtimeMember_zfATpjtkVWtj" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Sales of Airtime</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">14,079,791</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">14,079,791</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--Goodwill_iI_ztps1tFMvwvh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Goodwill</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">27,001,383</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">27,001,383</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

SCHEDULE OF SEGMENT REPORTING FOR REVENUE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center; font-weight: bold"> </td><td style="text-align: center"> </td> <td colspan="2" id="xdx_495_20230101__20231231_zrZfnszt5fS9" style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td colspan="2" id="xdx_499_20220101__20221231_ziEbjuKJ9vLb" style="text-align: center"> </td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Years ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Revenue</td><td> </td> <td colspan="2" style="text-align: right">- </td><td> </td><td> </td> <td colspan="2" style="text-align: right">- </td><td> </td></tr> <tr id="xdx_404_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hus-gaap--StatementBusinessSegmentsAxis__custom--RemittanceServicesMember_zqpT9ATO0tQf" style="vertical-align: bottom; background-color: White"> <td style="width: 50%; text-align: left">Remittance services</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">26,695,196</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">26,714,151</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hus-gaap--StatementBusinessSegmentsAxis__custom--SalesOfAirtimeMember_zUAr3YHlGIdd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Sales of Airtime</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">26,398,707</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">28,501,152</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hus-gaap--StatementBusinessSegmentsAxis__custom--OtherServicesMember_zTQAW41JXj67" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Other services</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">161,458</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">285,614</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zRygorg4YYea" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Revenue</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">53,255,361</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">55,500,917</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Years ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Cost of sales</td><td> </td> <td colspan="2" style="text-align: right">- </td><td> </td><td> </td> <td colspan="2" style="text-align: right">- </td><td> </td></tr> <tr id="xdx_404_eus-gaap--CostOfGoodsAndServicesSold_iN_di_hus-gaap--StatementBusinessSegmentsAxis__custom--RemittanceServicesMember_zVYydPCH3Eg" style="vertical-align: bottom; background-color: White"> <td style="width: 50%; text-align: left">Remittance services</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">(11,375,525</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">(13,268,205</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_408_eus-gaap--CostOfGoodsAndServicesSold_iN_di_hus-gaap--StatementBusinessSegmentsAxis__custom--SalesOfAirtimeMember_zFbZCDSe3794" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Sales of Airtime</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(24,206,112</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(26,370,613</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--CostOfGoodsAndServicesSold_iN_di_hus-gaap--StatementBusinessSegmentsAxis__custom--OtherServicesMember_zCFwVaIEW9ai" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Other services</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(317,419</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(242,129</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--CostOfGoodsAndServicesSold_iN_di_zv0sYk651qHk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Cost of sales</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(35,899,057</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(39,880,947</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Years ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Gross Profit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">- </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">- </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--GrossProfit_hus-gaap--StatementBusinessSegmentsAxis__custom--RemittanceServicesMember_zZhwynPAqjEb" style="vertical-align: bottom; background-color: White"> <td style="width: 50%; text-align: left">Remittance services</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">15,319,671</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">13,445,946</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--GrossProfit_hus-gaap--StatementBusinessSegmentsAxis__custom--SalesOfAirtimeMember_zcIo0M5nyJPl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Sales of Airtime</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,192,595</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,130,539</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--GrossProfit_hus-gaap--StatementBusinessSegmentsAxis__custom--OtherServicesMember_zs9LdmOSUEK5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Other services</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(155,962</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">43,485</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--GrossProfit_zFyx57BJ0EN8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Gross Profit</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">17,356,304</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">15,619,970</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

26695196

26714151

26398707

28501152

161458

285614

53255361

55500917

11375525

13268205

24206112

26370613

317419

242129

35899057

39880947

15319671

13445946

2192595

2130539

-155962

43485

17356304

15619970

<p id="xdx_899_ecustom--ScheduleOfExpenditureForAdditionsToLongLivedAssetsOtherThanGoodwillAndAcquiredIntangibleAssetsTableTextBlock_zJB6JHnzG7Od" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify">The following table sets forth the Expenditures for additions to long-lived assets other than goodwill and acquired intangible assets: SCHEDULE FOR ADDITIONS TO LONG-LIVED ASSETS OTHER THAN GOODWILL AND ACQUIRED INTANGIBLE ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_49F_20230101__20231231_z2mC2rahjKca" style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_492_20220101__20221231_z7VIutHk0jeg" style="text-align: center"> </td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_401_ecustom--ExpendituresForAdditionsToLongLivedAssetsExcludingGoodwillAndAcquiredIntangibleAssets_hus-gaap--StatementBusinessSegmentsAxis__custom--RemittanceServicesExpenseMember_zWhoS6LepKUd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 50%; text-align: left">Remittance services expense</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">302,950</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">532,457</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--ExpendituresForAdditionsToLongLivedAssetsExcludingGoodwillAndAcquiredIntangibleAssets_hus-gaap--StatementBusinessSegmentsAxis__custom--SalesOfAirtimeMember_zMcX9byhFvCg" style="vertical-align: bottom; background-color: White"> <td>Sales of Airtime</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--ExpendituresForAdditionsToLongLivedAssetsExcludingGoodwillAndAcquiredIntangibleAssets_hus-gaap--StatementBusinessSegmentsAxis__custom--OtherServicesMember_zWX7fVlLuLbb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Other services</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--ExpendituresForAdditionsToLongLivedAssetsExcludingGoodwillAndAcquiredIntangibleAssets_ziPeogRmuuEa" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Expenditure for additions to long-lived assets other than goodwill and acquired intangible assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">302,950</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">532,457</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 302950 532457 302950 532457

<p id="xdx_894_eus-gaap--ScheduleOfEntityWideDisclosureOnGeographicAreasLongLivedAssetsInIndividualForeignCountriesByCountryTextBlock_zAiKDikFFt2g" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify">The following table sets forth the revenues by geographical area: SCHEDULE OF GEOGRAPHICAL INFORMATION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center; font-weight: bold"> </td><td style="text-align: center"> </td> <td colspan="2" id="xdx_496_20230101__20231231_zWDlvfFSYBR5" style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td colspan="2" id="xdx_498_20220101__20221231_z3lWhsK4Uke8" style="text-align: center"> </td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Years ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Revenue</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_406_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--StatementGeographicalAxis__country--HK_zLNkchYPtPIg" style="vertical-align: bottom; background-color: White"> <td style="width: 50%; text-align: left">Hong Kong</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">9,726,364</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">8,647,764</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--StatementGeographicalAxis__country--MY_z7Pns4oyviSi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Malaysia</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">29,317,906</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">36,742,314</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--StatementGeographicalAxis__country--ID_zgwZ1XfpnK49" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Indonesia</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">14,211,091</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">10,110,839</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zKN2RWUJ8AOg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Revenue</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">53,255,361</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">55,500,917</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

9726364

8647764

29317906

36742314

14211091

10110839

53255361

55500917

The following table sets forth the long-lived assets other than goodwill and intangible assets by geographical area: SCHEDULE OF LONG LIVED ASSETS GEOGRAPHICAL INFORMATION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_49C_20231231_z9hiEaPDIhU" style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_498_20221231_zIfzDskgPWJa" style="text-align: center"> </td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Long-lived assets other than goodwill and acquired intangible assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--NoncurrentAssets_iI_hsrt--StatementGeographicalAxis__country--HK_zLNG502W32F" style="vertical-align: bottom; background-color: White"> <td style="width: 50%; text-align: left">Hong Kong</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">4,368,106</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">3,647,913</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--NoncurrentAssets_iI_hsrt--StatementGeographicalAxis__country--MY_zKWG8ebXInhi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Malaysia</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,005,601</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,276,989</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--NoncurrentAssets_iI_hsrt--StatementGeographicalAxis__country--ID_zbXuOv3rBEAh" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Indonesia</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">62,056</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">121,698</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--NoncurrentAssets_iI_maLAOTGzX9N_zm6xup4DDv5g" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Long-Lived Assets</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,435,763</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,046,600</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Add: Non-disclose items</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--InvestmentInEquitySecurity_iI_maLAOTGzX9N_zQnIY3TQ7gc9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Investment in an equity security</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">100,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">100,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--DeferredTaxAssets_iI_maLAOTGzX9N_zDnmqMQSC9s8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred tax assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">972,984</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">768,617</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--Goodwill_iI_maLAOTGzX9N_zHUgFdy8pr5a" style="vertical-align: bottom; background-color: White"> <td>Goodwill</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">27,001,383</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">27,001,383</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--AcquiredIntangibleAssets_iI_maLAOTGzX9N_zlZaXhdlbZh3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Acquired intangible assets</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,926,674</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,467,231</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_405_ecustom--LonglivedAssetsOtherThanGoodwillAndAcquiredIntangibleAssets8239_iTI_mtLAOTGzX9N_z7SqG1ktr5bk" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Long-lived assets other than goodwill and acquired intangible assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">33,001,041</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">39,383,831</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

4368106

3647913

1005601

1276989

62056

121698

5435763

5046600

100000 100000 972984 768617

27001383

4926674 6467231 33001041 39383831 The following table sets forth the goodwill by reportable segments: SCHEDULE OF GOODWILL REPORTABLE SEGMENTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_497_20231231_zfLQLkPUXj9a" style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_49F_20221231_z4Wo1Egmbyv" style="text-align: center"> </td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_40B_eus-gaap--Goodwill_iI_hus-gaap--StatementBusinessSegmentsAxis__custom--RemittanceServicesExpenseMember_zVgBOoO94bIj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 50%; text-align: left">Remittance services</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">12,921,592</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">12,921,592</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--Goodwill_iI_hus-gaap--StatementBusinessSegmentsAxis__custom--SalesOfAirtimeMember_zfATpjtkVWtj" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Sales of Airtime</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">14,079,791</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">14,079,791</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--Goodwill_iI_ztps1tFMvwvh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Goodwill</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">27,001,383</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">27,001,383</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

12921592

14079791

27001383

19 Deconsolidation of Dynamic Indonesia Holdings Limited DECONSOLIDATION OF DYNAMIC INDONESIA HOLDINGS LIMITED On July 13, 2020, an agreement was signed by Dynamic Indonesia Holdings Limited, a wholly owned subsidiary of the Company, to borrow US$<span id="xdx_90B_eus-gaap--OtherReceivables_iI_pn6n6_c20200713__srt--ConsolidatedEntitiesAxis__custom--DynamicIndonesiaHoldingsLimitedMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zqSUwaVc2RUh" title="Due from related party">1million from a third party. <span id="xdx_904_eus-gaap--DeconsolidationRelatedPartyDescription_c20210301__20210331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DynamicIndonesiaHoldingsLtdMember_z6iHg2bfJTlb" title="Deconsolidation, related party, description">In March 2021, the third party has converted that borrowing into <span id="xdx_90B_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20210331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DynamicIndonesiaHoldingsLtdMember_z5EE0DtTnnc1" title="Ownership percentage">51% of the equity interest in Dynamic Indonesia Holdings Limited. The consideration has been included in the operating activities section of the statement of cash flows as “Disposal of a subsidiary”. Non-controlling interest at the operating company level has been reversed out as Seamless followed equity accounting upon the disposal of Walletku.

1000000

In March 2021, the third party has converted that borrowing into 51% of the equity interest in Dynamic Indonesia Holdings Limited.

0.51

20 Acquisition of Dynamic Indonesia Holdings Limited ACQUISITION OF DYNAMIC INDONESIA HOLDINGS LIMITED On June 2, 2022, Dynamic Indonesia Holdings Limited and its two shareholders, Dynamic Investment Holdings Limited and Noble Tack International Limited, entered into a Subscription Agreement (“Subscription”) whereby Dynamic Indonesia Holdings Limited will offer the shareholders to subscribe to <span id="xdx_901_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20220601__20220602__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DynamicIndonesiaHoldingsLtdMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheFiveMember_z7fOtCbehaTb" title="Issuance of shares">5,000 shares of the Company in five equal tranches. Only Dynamic Investment Holdings Limited subscribed to the first tranche, and upon completion of its purchase of <span id="xdx_904_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20220601__20220602__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DynamicIndonesiaHoldingsLtdMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheOneMember_zlA9jxFsj4i2" title="Issuance of shares">1,000 shares on June 2, 2022 for $<span id="xdx_906_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20220601__20220602__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DynamicIndonesiaHoldingsLtdMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheOneMember_zHvIvAnwB5gk" title="Issuance of shares, value">200,000, Dynamic Investments Holdings Limited increased its ownership of Dynamic Indonesia Holdings Limited from <span id="xdx_900_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20220602__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DynamicIndonesiaHoldingsLtdMember__srt--RangeAxis__srt--MinimumMember_zqIEOBPknXea" title="Ownership percentage">49% to approximately <span id="xdx_90A_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20220602__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DynamicIndonesiaHoldingsLtdMember__srt--RangeAxis__srt--MaximumMember_zxwx1wtR7mVj" title="Ownership percentage">51%. As a subsidiary of the Company, Dynamic Indonesia Holdings Limited’s financial performance has been included in the Company’s interim condensed consolidated financial statements from the date of acquisition. <p id="xdx_896_eus-gaap--ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock_zSWgI6z1RZFa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: 2.4pt">The allocation of the purchase price as of the date of acquisition is summarized as follows: SCHEDULE OF PURCHASE PRICE OF ACQUISITION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_496_20220602__us-gaap--BusinessAcquisitionAxis__custom--DynamicInvestmentHoldingsLimitedMember_z9AlOpC19OR3" style="text-align: center"> </td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">US$</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_405_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets_iNI_di_zCZeSuViMH0h" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 50%; text-align: left">Net assets acquired (i)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">(1,510,899</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--Goodwill_iI_zrUCrlhXaCJe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Goodwill (Note 9) (ii)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,771,855</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--BusinessCombinationAcquisitionOfLessThan100PercentNoncontrollingInterestFairValue_iNI_di_zzCrt5CMDwk4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Non-controlling interests (iii)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,931,441</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedLessNoncontrollingInterest_iI_zDXtPw205Th" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">2,329,515</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total purchase price is comprised of:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Cash consideration</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--BusinessCombinationConsiderationTransferred1_c20220601__20220602__us-gaap--BusinessAcquisitionAxis__custom--DynamicIndonesiaHoldingsLimitedMember_zT4TszNeLVr8" style="text-align: right">200,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1.5pt">Fair value of previously held equity interests</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_ecustom--FairValueOfPreviouslyHeldEquityInterests_c20220601__20220602__us-gaap--BusinessAcquisitionAxis__custom--DynamicIndonesiaHoldingsLimitedMember_z0xMPo0Ru0uk" style="border-bottom: Black 1pt solid; text-align: right">2,129,515</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedLessNoncontrollingInterest_iI_zbTiX9Evfpdg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">2,329,515</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">(i)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Net assets acquired primarily included accounts receivables and other receivables of approximately US$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFBVUkNIQVNFIFBSSUNFIE9GIEFDUVVJU0lUSU9OIChQYXJlbnRoZXRpY2FsKSAoRGV0YWlscykA" id="xdx_90C_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables_iI_pn5n6_c20220602__us-gaap--BusinessAcquisitionAxis__custom--DynamicIndonesiaHoldingsLimitedMember_z1uToUMCSpN7" title="Accounts receivables and other receivables">0.6 million, property and equipment of approximately US$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFBVUkNIQVNFIFBSSUNFIE9GIEFDUVVJU0lUSU9OIChQYXJlbnRoZXRpY2FsKSAoRGV0YWlscykA" id="xdx_90D_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment_iI_pn5n6_c20220602__us-gaap--BusinessAcquisitionAxis__custom--DynamicIndonesiaHoldingsLimitedMember_zBqw1L8QkELf" title="Property plant and equipment">0.2 million, operating lease right-of-use assets relating to land use rights of approximately US$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFBVUkNIQVNFIFBSSUNFIE9GIEFDUVVJU0lUSU9OIChQYXJlbnRoZXRpY2FsKSAoRGV0YWlscykA" id="xdx_906_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOperatingLeaseRightOfUseAssets_iI_pn5n6_c20220602__us-gaap--BusinessAcquisitionAxis__custom--DynamicIndonesiaHoldingsLimitedMember_zU4ygK5wlGL1" title="Operating lease right-of-use assets">0.1 million and other assets of approximately US$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFBVUkNIQVNFIFBSSUNFIE9GIEFDUVVJU0lUSU9OIChQYXJlbnRoZXRpY2FsKSAoRGV0YWlscykA" id="xdx_902_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsOther_iI_pn5n6_c20220602__us-gaap--BusinessAcquisitionAxis__custom--DynamicIndonesiaHoldingsLimitedMember_zSh9m1sxRrD8" title="Other assets">1.6 million and liabilities of approximately US$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFBVUkNIQVNFIFBSSUNFIE9GIEFDUVVJU0lUSU9OIChQYXJlbnRoZXRpY2FsKSAoRGV0YWlscykA" id="xdx_901_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_iI_pn5n6_c20220602__us-gaap--BusinessAcquisitionAxis__custom--DynamicIndonesiaHoldingsLimitedMember_zIJtOVWW0j7a" title="Liabilities">4.1 million as of the date of acquisition.</td></tr></table> SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.5in">20</td> <td style="text-align: justify">Acquisition of Dynamic Indonesia Holdings Limited (Continued)</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">(ii)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Goodwill arose on the acquisition from the expected synergies from combining our existing airtime operations with those of Dynamic Indonesia Holdings Limited.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">(iii)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">An independent valuation firm was hired by Noble Tack International Limited to value it shares in Dynamic Indonesia at approximately the date of the acquisition. The firm used market approach Price-to-Sales multiple-based methodology to determine the value.</td></tr></table> On June 2, 2022, in conjunction with the share purchase described above, the Company granted a put option to Noble Tack International Limited. The put option grants the holder the right to convert its equity interest in and loan to Dynamic Indonesia Holdings Limited into equity of the Company as defined in the agreement. The option is valid for two years. On October 3, 2022 only Dynamic Investment Holdings Limited subscribed to the second tranche, and upon completion of its purchase of <span id="xdx_90E_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20221002__20221003__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DynamicIndonesiaHoldingsLtdMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheTwoMember_zn1D3O4LlUYh" title="Issuance of shares">1,000 shares for $<span id="xdx_90E_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20221002__20221003__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DynamicIndonesiaHoldingsLtdMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheTwoMember_zPkU0vx7Wmb6" title="Issuance of shares, value">200,000, Dynamic Investments Holdings Limited increased its ownership of Dynamic Indonesia Holdings Limited from approximately <span id="xdx_906_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20221003__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DynamicIndonesiaHoldingsLtdMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheTwoMember__srt--RangeAxis__srt--MinimumMember_z70W92Mux9ld" title="Ownership percentage">51% to approximately <span id="xdx_908_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20221003__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DynamicIndonesiaHoldingsLtdMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheTwoMember__srt--RangeAxis__srt--MaximumMember_zloxfabEQWtg" title="Ownership percentage">54%. On February 3, 2023 only Dynamic Investment Holdings Limited subscribed to the third tranche, and upon completion of its purchase of <span id="xdx_901_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20230202__20230203__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DynamicIndonesiaHoldingsLtdMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheThreeMember_zvabOpTNUdy8" title="Issuance of shares">1,000 shares for $<span id="xdx_90A_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20230202__20230203__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DynamicIndonesiaHoldingsLtdMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheThreeMember_zLYCjMvtQx7b" title="Issuance of shares, value">200,000, Dynamic Investments Holdings Limited increased its ownership of Dynamic Indonesia Holdings Limited from approximately <span id="xdx_900_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20230203__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DynamicIndonesiaHoldingsLtdMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheThreeMember__srt--RangeAxis__srt--MinimumMember_zdoTvlLoXBV1" title="Ownership percentage">54% to approximately <span id="xdx_90C_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20230203__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DynamicIndonesiaHoldingsLtdMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheThreeMember__srt--RangeAxis__srt--MaximumMember_zuCL667G9XUh" title="Ownership percentage">56%. On June 5, 2023 only Dynamic Investment Holdings Limited subscribed to the fourth tranche, and upon completion of its purchase of <span id="xdx_901_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20230604__20230605__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DynamicIndonesiaHoldingsLtdMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheFourMember_ziz8uAf9wiE3" title="Issuance of shares">1,000 shares for $<span id="xdx_903_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20230604__20230605__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DynamicIndonesiaHoldingsLtdMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheFourMember_z9TlEZjtB0Vl" title="Issuance of shares, value">200,000, Dynamic Investments Holdings Limited increased its ownership of Dynamic Indonesia Holdings Limited from approximately <span id="xdx_90D_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20230605__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DynamicIndonesiaHoldingsLtdMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheFourMember__srt--RangeAxis__srt--MinimumMember_z2KhCsnsyAq4" title="Ownership percentage">56% to approximately <span id="xdx_90A_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20230605__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DynamicIndonesiaHoldingsLtdMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheFourMember__srt--RangeAxis__srt--MaximumMember_zBe1s6z81yQ5" title="Ownership percentage">57%. On October 5, 2023 only Dynamic Investment Holdings Limited subscribed to the fourth tranche, and upon completion of its purchase of <span id="xdx_90C_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20231004__20231005__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DynamicIndonesiaHoldingsLtdMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheFiveMember_zB7aRQZLwkXk" title="Number of shares purchased">1,000 shares for $<span id="xdx_903_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20231004__20231005__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DynamicIndonesiaHoldingsLtdMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheFiveMember_zYdSUV0gOAg9" title="Purchase of shares, value">200,000, Dynamic Investments Holdings Limited increased its ownership of Dynamic Indonesia Holdings Limited from approximately <span id="xdx_901_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20231005__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DynamicIndonesiaHoldingsLtdMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheFiveMember__srt--RangeAxis__srt--MinimumMember_zmumnlqj34bl" title="Ownership percentage">57% to approximately <span id="xdx_90F_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20231005__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DynamicIndonesiaHoldingsLtdMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheFiveMember__srt--RangeAxis__srt--MaximumMember_zDLoXABuSayc" title="Ownership percentage">59%. The following amounts of the acquiree since the acquisition date are included in the December 2023 consolidated statement of operations. Comparable information for 2021 is not available. SCHEDULE OF ACQUISITION OF CONSOLIDATED STATEMENTS OF OPERATIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_49F_20230101__20231231__us-gaap--BusinessAcquisitionAxis__custom--DynamicIndonesiaHoldingsLimitedMember_zzRZbMhG3tKi" style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_491_20220101__20221231__us-gaap--BusinessAcquisitionAxis__custom--DynamicIndonesiaHoldingsLimitedMember_zweI8mlH4eFh" style="text-align: center"> </td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">2023</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">2022</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">US$</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">US$</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_407_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zU2TsWFnzuF6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">14,211,091</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">10,110,839</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest_zPheaKfn2J0i" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Loss after tax</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(836,874</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(498,424</td><td style="text-align: left">)</td></tr> </table>

5000

1000

200000

0.49

0.51

<p id="xdx_896_eus-gaap--ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock_zSWgI6z1RZFa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: 2.4pt">The allocation of the purchase price as of the date of acquisition is summarized as follows: SCHEDULE OF PURCHASE PRICE OF ACQUISITION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_496_20220602__us-gaap--BusinessAcquisitionAxis__custom--DynamicInvestmentHoldingsLimitedMember_z9AlOpC19OR3" style="text-align: center"> </td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">US$</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_405_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets_iNI_di_zCZeSuViMH0h" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 50%; text-align: left">Net assets acquired (i)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">(1,510,899</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--Goodwill_iI_zrUCrlhXaCJe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Goodwill (Note 9) (ii)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,771,855</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--BusinessCombinationAcquisitionOfLessThan100PercentNoncontrollingInterestFairValue_iNI_di_zzCrt5CMDwk4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Non-controlling interests (iii)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,931,441</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedLessNoncontrollingInterest_iI_zDXtPw205Th" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">2,329,515</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total purchase price is comprised of:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Cash consideration</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--BusinessCombinationConsiderationTransferred1_c20220601__20220602__us-gaap--BusinessAcquisitionAxis__custom--DynamicIndonesiaHoldingsLimitedMember_zT4TszNeLVr8" style="text-align: right">200,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1.5pt">Fair value of previously held equity interests</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_ecustom--FairValueOfPreviouslyHeldEquityInterests_c20220601__20220602__us-gaap--BusinessAcquisitionAxis__custom--DynamicIndonesiaHoldingsLimitedMember_z0xMPo0Ru0uk" style="border-bottom: Black 1pt solid; text-align: right">2,129,515</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedLessNoncontrollingInterest_iI_zbTiX9Evfpdg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">2,329,515</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">(i)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Net assets acquired primarily included accounts receivables and other receivables of approximately US$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFBVUkNIQVNFIFBSSUNFIE9GIEFDUVVJU0lUSU9OIChQYXJlbnRoZXRpY2FsKSAoRGV0YWlscykA" id="xdx_90C_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables_iI_pn5n6_c20220602__us-gaap--BusinessAcquisitionAxis__custom--DynamicIndonesiaHoldingsLimitedMember_z1uToUMCSpN7" title="Accounts receivables and other receivables">0.6 million, property and equipment of approximately US$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFBVUkNIQVNFIFBSSUNFIE9GIEFDUVVJU0lUSU9OIChQYXJlbnRoZXRpY2FsKSAoRGV0YWlscykA" id="xdx_90D_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment_iI_pn5n6_c20220602__us-gaap--BusinessAcquisitionAxis__custom--DynamicIndonesiaHoldingsLimitedMember_zBqw1L8QkELf" title="Property plant and equipment">0.2 million, operating lease right-of-use assets relating to land use rights of approximately US$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFBVUkNIQVNFIFBSSUNFIE9GIEFDUVVJU0lUSU9OIChQYXJlbnRoZXRpY2FsKSAoRGV0YWlscykA" id="xdx_906_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOperatingLeaseRightOfUseAssets_iI_pn5n6_c20220602__us-gaap--BusinessAcquisitionAxis__custom--DynamicIndonesiaHoldingsLimitedMember_zU4ygK5wlGL1" title="Operating lease right-of-use assets">0.1 million and other assets of approximately US$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFBVUkNIQVNFIFBSSUNFIE9GIEFDUVVJU0lUSU9OIChQYXJlbnRoZXRpY2FsKSAoRGV0YWlscykA" id="xdx_902_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsOther_iI_pn5n6_c20220602__us-gaap--BusinessAcquisitionAxis__custom--DynamicIndonesiaHoldingsLimitedMember_zSh9m1sxRrD8" title="Other assets">1.6 million and liabilities of approximately US$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFBVUkNIQVNFIFBSSUNFIE9GIEFDUVVJU0lUSU9OIChQYXJlbnRoZXRpY2FsKSAoRGV0YWlscykA" id="xdx_901_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_iI_pn5n6_c20220602__us-gaap--BusinessAcquisitionAxis__custom--DynamicIndonesiaHoldingsLimitedMember_zIJtOVWW0j7a" title="Liabilities">4.1 million as of the date of acquisition.</td></tr></table> SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.5in">20</td> <td style="text-align: justify">Acquisition of Dynamic Indonesia Holdings Limited (Continued)</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">(ii)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Goodwill arose on the acquisition from the expected synergies from combining our existing airtime operations with those of Dynamic Indonesia Holdings Limited.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">(iii)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">An independent valuation firm was hired by Noble Tack International Limited to value it shares in Dynamic Indonesia at approximately the date of the acquisition. The firm used market approach Price-to-Sales multiple-based methodology to determine the value.</td></tr></table>

1510899

7771855

3931441

2329515

200000

2129515

2329515

600000

200000

100000

1600000

4100000

1000

200000

0.51

0.54

1000

200000

0.54

0.56

1000

200000

0.56

0.57

1000

200000

0.57

0.59

The following amounts of the acquiree since the acquisition date are included in the December 2023 consolidated statement of operations. Comparable information for 2021 is not available. SCHEDULE OF ACQUISITION OF CONSOLIDATED STATEMENTS OF OPERATIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_49F_20230101__20231231__us-gaap--BusinessAcquisitionAxis__custom--DynamicIndonesiaHoldingsLimitedMember_zzRZbMhG3tKi" style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_491_20220101__20221231__us-gaap--BusinessAcquisitionAxis__custom--DynamicIndonesiaHoldingsLimitedMember_zweI8mlH4eFh" style="text-align: center"> </td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">2023</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">2022</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">US$</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">US$</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_407_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zU2TsWFnzuF6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">14,211,091</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">10,110,839</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest_zPheaKfn2J0i" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Loss after tax</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(836,874</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(498,424</td><td style="text-align: left">)</td></tr> </table>

14211091

10110839

-836874

-498424

21 Related party transactions RELATED PARTY TRANSACTIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">(a)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Related parties</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 93%; border-collapse: collapse; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 35%">Name of related parties</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 63%">Relationship with the Company</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">Dr. Ronnie Hui</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Chief Executive Officer of the Company</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">Mr. Takis Wong</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Chief Operating Officer of the Company</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">Mr. Alexander Kong</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Chairman of Seamless Group</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">Regal Planet Limited</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">Ultimate holding company</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">Sino Dynamic Solutions Limited</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">Company controlled by a director of the Company</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">PT Walletku Indompet Indonesia</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">Investment held indirectly by the Company</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">Ripple Labs Singapore Pte. Ltd. </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">Minority 40% owner of Tranglo </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">Ripple Services, Inc. </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">Minority 40% owner of Tranglo </td></tr> </table> SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.5in">21</td> <td style="text-align: justify">Related party transactions (continued)</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">(b)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The Company had the following significant related party transactions for the years ended December 31, 2023 and 2022, respectively:</td></tr></table> SCHEDULE OF RELATED PARTY TRANSACTIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_498_20230101__20231231_zUp65FGEpi33" style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_490_20220101__20221231_zWmEEXrhJCt4" style="text-align: center"> </td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Years ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Sino Dynamic Solutions Limited</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--PaymentsToAcquireIntangibleAssets_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SinoDynamicSolutionsLimitedMember_zBs3yUtSCs1e" style="vertical-align: bottom; background-color: White"> <td style="width: 50%; text-align: left">Purchase of intangible assets</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">2,551,184</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--PaymentsForSupportAndMaintenanceCosts_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SinoDynamicSolutionsLimitedMember_zH32RQ2zXtad" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Support and maintenance costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">919,654</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">919,404</td><td style="text-align: left"> </td></tr> </table> A Pay-Out Support Agreement (the “Agreement”) between Ripple Services, Inc. and Tranglo was entered into on March 10, 2021. According to the Agreement, Tranglo agreed to integrate with RippleNet and On Demand Liquidity (collectively the Ripple Solution) which are developed by Ripple for facilitating cross-border payments, and act as the service provider of Ripple. Under the Agreement, Tranglo’s remittance partners can choose to adopt the use of XRP provided by On-Demand Liquidity facility for prefunding purposes. Both Ripple and Tranglo agreed to make use of the Programmatic Liquidation system for liquidation of XRP as received by Tranglo for prefunding purposes into USD or other fiat currencies. Under the Agreement, Ripple guarantees that Tranglo will receive the agreed amount of fiat currencies from the liquidation of XRP on every agreed XRP prefunding arrangement, and that any shortfall in the liquidation process will be covered by Ripple. In exchnage, Tranglo has to offer certain discounts on transaction fees and foreign exchange fees for the remittance partners who adopt the On-Demand Liquidity services of Ripple Solution and use XRP for prefunding transactions. Ripple Labs Singapore Pte. Ltd. and Tranglo entered into a Master XRP Commitment to Sell Agreement on March 11, 2022, which was subsequently amended in 2022 and 2023 (referred to as the “Tranglo Commitment to Sell Agreement”). Pursuant to the Tranglo Commitment to Sell Agreement, Tranglo can execute ODL transactions in which Ripple Labs Singapore Pte. Ltd will make available via automated wallet funding service (“AWF”) up to $50,000,000 worth of XRP for working capital purposes. Under the Tranglo Commitment to Sell Agreement, Ripple Labs Singapore Pte. Ltd deposits certain amounts of XRP into Tranglo’s crypto wallet. The Tranglo Commitment to Sell Agreement stipulates that the legal title and rights to the XRP deposited in Tranglo’s crypto wallet belong to Ripple Labs Singapore Pte. Ltd. Under the Tranglo Commitment to Sell Agreement, Tranglo agrees to transfer XRP in its crypto wallet as provided by Ripple Labs Singapore Pte. Ltd in its bailment account to Tranglo for prefunding purposes. In exchange for obtaining the XRP, Tranglo has the obligation to repay the amount of fiat currency as agreed in the ODL transaction to Ripple Labs Singapore Pte. Ltd. The balance of deposits of XRP in Tranglo’s crypto wallet as of December 31, 2023 and 2022 was approximately $2.0 million and $3.3 million, respectively. A maximum limit of $50.0 million is included in the Tranglo Commitment to Sell Agreement. Ripple Labs Singapore Pte. Ltd. and GEA also entered into a Master XRP Commitment to Sell Agreement on September 12, 2022 (referred to as the “GEA Commitment to Sell Agreement”), when GEA was onboarded as an ODL RP. Pursuant to the GEA Commitment to Sell Agreement, GEA can execute ODL transactions. Under the GEA Commitment to Sell Agreement, Ripple Labs Singapore Pte. Ltd deposits certain amounts of XRP into the account of its ODL RP (i.e., the crypto wallet of GEA). The GEA Commitment to Sell Agreement stipulates that the legal title and rights to the XRP deposited in GEA’s crypto wallet belong to Ripple Labs Singapore Pte. Ltd. Under the GEA Commitment to Sell Agreement, GEA agrees to transfer XRP in its crypto wallet as provided by Ripple Labs Singapore Pte. Ltd in its bailment account to Tranglo for prefunding purposes. Once the XRP transfer is confirmed, the legal title of that XRP will be transferred from Ripple Labs Singapore Pte. Ltd to GEA. Also, in exchange for obtaining the XRP, GEA has the obligation to repay the amount of fiat currency as agreed in the ODL transaction to Ripple Labs Singapore Pte. Ltd. Ripple Labs Singapore Pte. Ltd and GEA also entered into a Line of Credit and related addendums in connection with the GEA Commitment to Sell Agreement, under which Ripple Labs Singapore Pte. Ltd provided to GEA a $5 million credit facility for a two-year term, providing GEA with the resources to aggressively promote the use of ODL services. The balance of deposits of XRP in GEA’s crypto wallet as of December 31, 2023 and 2022 was zero and approximately $2.5 million, respectively. There is no maximum limit included in the GEA Commitment to Sell Agreement. Under the Master XRP Commitment to Sell Agreement signed between Ripple and GEA Limited, Ripple will make available XRP for GEA. GEA can choose to adopt the use of XRP provided by Ripple’s On-Demand Liquidity facility for prefunding purposes. Each withdrawal of XRP shall be converted into a USD purchase price based on mutually agreed upon rate quote. XRP will be sent to Tranglo for liquidation of XRP into USD by Programmatic Liquidation system for prefunding transactions. The total dollar value of the ODL remittance partner transactions related to the XRP that was drawn down in the prefunding arrangements for the years ended December 31, 2023 and 2022 are approximately $<span id="xdx_909_eus-gaap--RelatedPartyTransactionAmountsOfTransaction_pn5n6_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RippleSolutionMember_zBI5NSBkBMt1" title="Related party transaction amounts of transaction">475.3 million and $<span id="xdx_90C_eus-gaap--RelatedPartyTransactionAmountsOfTransaction_pn5n6_c20220101__20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RippleSolutionMember_zkzJWza6rTbe" title="Related party transaction amounts of transaction">721.1 million, respectively. Revenues for Tranglo generated from the ODL remittance for the years ended December 31, 2023 and 2022 are approximately $<span id="xdx_90D_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn5n6_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TrangloMember_zGo8taombnad" title="Revenue">1.8 million and $<span id="xdx_907_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn5n6_c20220101__20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TrangloMember_zmBKyBb6U5od" title="Revenue">2.6 million, respectively. Amounts settled to Ripple for the years ended December 31, 2023 and 2022 are approximately $698.6 million and $738.6 million, respectively. Amounts settled to Ripple by GEA Limited for ODL prefunding transactions while acting as the ODL RP for the years ended December 31, 2023 and 2022 are approximately $104.2 million and $485.3 million, respectively. Amounts settled to Ripple by Tranglo which had made use of the ODL services while acting as the remittance hub for the years ended December 31, 2023 and 2022 were approximately $594.4 million and $253.3 million, respectively. ODL balance with Ripple has been disclosed in the related party balance note below. SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.5in">21</td> <td style="text-align: justify">Related party transactions (continued)</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">(c)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The Company had the following related party balances as of December 31, 2023 and 2022:</td></tr></table> SCHEDULE OF RELATED PARTY BALANCES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_491_20231231_zvlxtt4rTzSh" style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_49B_20221231_z0PFNpDx9CF5" style="text-align: center"> </td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Amounts due from related parties</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--OtherReceivables_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--PTWalletkuIndompetIndonesiaMember_zpe1IxscEd9h" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">PT Walletku Indompet Indonesia</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--OtherReceivables_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SinoDynamicSolutionsLimitedMember_zokby96X0wE8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 50%; text-align: left">Sino Dynamic Solutions Limited</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">7,148,208</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">4,382,762</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--OtherReceivables_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--OthersMember_z2SoHHZ6Njg3" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 1.5pt">Others</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">139,168</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">100,466</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--OtherReceivables_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zQHo2zmxj5e4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Amounts due from related parties</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">7,287,376</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">4,483,228</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Amounts due to related parties</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OtherLiabilities_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RegalPlanetLimitedMember_zf89B6aDA2j8" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Regal Planet Limited</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">48,654,398</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">49,079,276</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--OtherLiabilities_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SinoDynamicSolutionsLimitedMember_zu6TvHHv6grd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Sino Dynamic Solutions Limited</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,130,912</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,245,564</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--OtherLiabilities_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrAlexanderKongMember_z92jGg71JEg5" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Mr. Alexander Kong</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">114,374</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">114,508</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--OtherLiabilities_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RippleLabIncMember_zXRlooiSshdd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Ripple Lab Inc.</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">32,584,911</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">32,310,978</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--OtherLiabilities_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--OthersMember_zJNhigCoovP5" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 1.5pt">Others</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,003,924</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,006,991</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--OtherLiabilities_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zd94Jrcp95ze" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Amounts due to related parties</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">86,488,519</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">83,757,317</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The amounts due from/to related parties are unsecured, interest-free and repayable on demand, except for the balance with Ripple, which is interest free for one week. Interest paid to Ripple for the year ended December 2023 and 2022 is US$812,473 and US$191,245, respectively. The transactions occur in the course of the Company’s operations. Amount due to Ripple of $26 million by GEA Limited as of December 31, 2023 is guaranteed by Seamless Group Inc., Regal Planet Limited and Kong King Ong Alexander. Borrowings arising from transactions with related parties are described in Note 11.

SCHEDULE OF RELATED PARTY TRANSACTIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_498_20230101__20231231_zUp65FGEpi33" style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_490_20220101__20221231_zWmEEXrhJCt4" style="text-align: center"> </td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Years ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Sino Dynamic Solutions Limited</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--PaymentsToAcquireIntangibleAssets_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SinoDynamicSolutionsLimitedMember_zBs3yUtSCs1e" style="vertical-align: bottom; background-color: White"> <td style="width: 50%; text-align: left">Purchase of intangible assets</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">2,551,184</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--PaymentsForSupportAndMaintenanceCosts_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SinoDynamicSolutionsLimitedMember_zH32RQ2zXtad" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Support and maintenance costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">919,654</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">919,404</td><td style="text-align: left"> </td></tr> </table>

2551184

919654 919404 50000000

2000000.0

3300000

50000000.0

5000000

2500000

475300000

721100000

1800000

2600000

698600000

738600000

104200000

485300000

594400000

253300000

SCHEDULE OF RELATED PARTY BALANCES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_491_20231231_zvlxtt4rTzSh" style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_49B_20221231_z0PFNpDx9CF5" style="text-align: center"> </td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Amounts due from related parties</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--OtherReceivables_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--PTWalletkuIndompetIndonesiaMember_zpe1IxscEd9h" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">PT Walletku Indompet Indonesia</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--OtherReceivables_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SinoDynamicSolutionsLimitedMember_zokby96X0wE8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 50%; text-align: left">Sino Dynamic Solutions Limited</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">7,148,208</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">4,382,762</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--OtherReceivables_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--OthersMember_z2SoHHZ6Njg3" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 1.5pt">Others</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">139,168</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">100,466</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--OtherReceivables_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zQHo2zmxj5e4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Amounts due from related parties</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">7,287,376</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">4,483,228</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Amounts due to related parties</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OtherLiabilities_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RegalPlanetLimitedMember_zf89B6aDA2j8" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Regal Planet Limited</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">48,654,398</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">49,079,276</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--OtherLiabilities_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SinoDynamicSolutionsLimitedMember_zu6TvHHv6grd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Sino Dynamic Solutions Limited</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,130,912</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,245,564</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--OtherLiabilities_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrAlexanderKongMember_z92jGg71JEg5" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Mr. Alexander Kong</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">114,374</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">114,508</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--OtherLiabilities_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RippleLabIncMember_zXRlooiSshdd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Ripple Lab Inc.</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">32,584,911</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">32,310,978</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--OtherLiabilities_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--OthersMember_zJNhigCoovP5" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 1.5pt">Others</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,003,924</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,006,991</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--OtherLiabilities_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zd94Jrcp95ze" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Amounts due to related parties</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">86,488,519</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">83,757,317</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

7148208

4382762

139168

100466

7287376

4483228

48654398

49079276

4130912

1245564

114374

114508

32584911

32310978

1003924

1006991

86488519

83757317

812473

191245

26000000

22 Commitments and Contingencies COMMITMENTS AND CONTINGENCIES The Company believes there are no commitments or contingencies arising from the normal course of business or any legal proceedings that require recognition or disclosure in the consolidated financial statements. SEAMLESS GROUP INC.

SCHEDULE 1 Condensed Financial Information of the Company CONDENSED FINANCIAL INFORMATION OF THE COMPANY Condensed balance sheets of the parent company <table cellpadding="0" cellspacing="0" id="xdx_893_eus-gaap--StatementOfFinancialPositionAbstract_zTMiPSDMxt2a" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in" summary="xdx: Disclosure - SCHEDULE OF CONDENSED BALANCE SHEETS OF PARENT COMPANY (Details)"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center; font-weight: bold"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_497_20231231__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember_zBsSAQo4Q2A1" style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_49D_20221231__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember_zZJ9C6mcc39f" style="text-align: center"> </td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_402_eus-gaap--AssetsAbstract_iB_zT8s0aGy55Z2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">ASSETS</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--AssetsCurrentAbstract_i01B_zR488pJ9Hwb3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Current assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--CashAndCashEquivalentsAtCarryingValue_i02I_maCzH1n_z5enNB7zsAQa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 60%; text-align: left">Cash and cash equivalents</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">130,634</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">78,968</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--ShortTermInvestments_i02I_maCzH1n_zNkUCE2fcoRk" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Short-term investments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">- </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_i02I_maCzH1n_zE7SbacMxCce" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Prepayments, deposits and other receivables</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">76,492</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">66,245</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--DueFromSubsidiariesCurrent_i02I_maCzH1n_zpmEt6CkEZVd" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Amounts due from subsidiaries</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,155,464</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,869,413</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--AmountsDueFromRelatedParties_i02I_maCzH1n_z1M41o0vbTh8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1.5pt">Amounts due from related parties</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">123,906</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">90,666</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--AssetsCurrent_i02TI_mtCzH1n_maCzgoW_z1eYPx0RFZci" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total current assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,486,496</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,105,292</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures_i02I_maCzgoW_zdDkp1UbHqGg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Investments in subsidiaries</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">20,682,970</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">26,470,719</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--EquitySecuritiesFvNi_i02I_maCzgoW_zMr98rL43pCd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Investment in an equity security</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--Assets_i01TI_mtCzgoW_zh0Un6Vv6PHl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">27,169,466</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">33,576,011</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--LiabilitiesAndStockholdersEquityAbstract_iB_z3Bv3ojhIo0f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">LIABILITIES AND SHAREHOLDERS’ EQUITY</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--LiabilitiesCurrentAbstract_i01B_zJSDIWqRMNQg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Current liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--ShortTermBorrowings_i01I_maCz5Lr_zcfQQ58KGzHe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Borrowings</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,162,844</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,577,451</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--AccountsPayableAndAccruedLiabilitiesCurrent_i01I_maCz5Lr_zWEYX3xUyBub" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Accruals and other payables</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,621,542</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,410,027</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--DueToSubsidiariesCurrent_i01I_maCz5Lr_zWkJ86jaGn2h" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Amounts due to subsidiaries</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,302,130</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,640,735</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--AmountsDueToRelatedParties_i01I_maCz5Lr_zUr8zRzywZW1" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Amounts due to related parties</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">49,472,617</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">49,900,344</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--ConvertibleDebtCurrent_i01I_maCz5Lr_znPcaefZ3DIi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1.5pt">Convertible bonds</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">10,000,001</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">9,192,141</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--LiabilitiesCurrent_i01TI_mtCz5Lr_maCzNVp_z12cUF5iyK4d" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total current liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">87,559,134</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">78,720,698</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--LongTermDebtNoncurrent_i01I_maCz5Lr_zpw0gI1mk9R9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Borrowings</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--ConvertibleDebtNoncurrent_i01I_maCz5Lr_zPyjUWpNtfp7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Convertible bonds</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--Liabilities_i01TI_mtCzNVp_maCzdrr_zfbUYVWu00Nb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Total liabilities</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">87,559,134</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">78,720,698</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--StockholdersEquityAbstract_i01B_zvbgRSod0mb8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Shareholders’ deficit:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--CommonStockValue_i02I_maCz1v9_zzgTiSNB43Xg" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Common shares (US$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIENPTkRFTlNFRCBCQUxBTkNFIFNIRUVUUyBPRiBQQVJFTlQgQ09NUEFOWSAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_903_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20231231_zZFuY9j76rMd" title="Common stock, par value"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIENPTkRFTlNFRCBCQUxBTkNFIFNIRUVUUyBPRiBQQVJFTlQgQ09NUEFOWSAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_909_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20221231_zL6NBeSEMUH5" title="Common stock, par value">0.001 par value; <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIENPTkRFTlNFRCBCQUxBTkNFIFNIRUVUUyBPRiBQQVJFTlQgQ09NUEFOWSAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90B_eus-gaap--CommonStockSharesAuthorized_iI_c20231231_zbxHXID1XBCk" title="Common stock, shares authorized"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIENPTkRFTlNFRCBCQUxBTkNFIFNIRUVUUyBPRiBQQVJFTlQgQ09NUEFOWSAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_903_eus-gaap--CommonStockSharesAuthorized_iI_c20221231_z6J7mAZpJpSk" title="Common stock, shares authorized"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIENPTkRFTlNFRCBCQUxBTkNFIFNIRUVUUyBPRiBQQVJFTlQgQ09NUEFOWSAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90F_eus-gaap--CommonStockSharesIssued_iI_c20231231_zhL6rn0yTRR3" title="Common stock, shares issued"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIENPTkRFTlNFRCBCQUxBTkNFIFNIRUVUUyBPRiBQQVJFTlQgQ09NUEFOWSAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_906_eus-gaap--CommonStockSharesOutstanding_iI_c20231231_zPvdxidQySU8" title="Common stock, shares outstanding"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIENPTkRFTlNFRCBCQUxBTkNFIFNIRUVUUyBPRiBQQVJFTlQgQ09NUEFOWSAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_909_eus-gaap--CommonStockSharesIssued_iI_c20221231_zRAG1YIV3krh" title="Common stock, shares issued"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIENPTkRFTlNFRCBCQUxBTkNFIFNIRUVUUyBPRiBQQVJFTlQgQ09NUEFOWSAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_906_eus-gaap--CommonStockSharesOutstanding_iI_c20221231_ze3xewg3WoO6" title="Common stock, shares outstanding">58,030,000 shares authorized, issued and outstanding as of December 31, 2023 and 2022)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">58,030</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">58,030</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--AdditionalPaidInCapital_i02I_maCz1v9_zsPsLh0rj462" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Additional paid-in capital</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">29,172,373</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">29,172,373</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--RetainedEarningsAccumulatedDeficit_i02I_maCz1v9_zmevbnEPVXDf" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Accumulated deficit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(89,542,157</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(74,235,607</td><td style="text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--AccumulatedOtherComprehensiveIncomeLossNetOfTax_i02I_maCz1v9_znvE9OS5whji" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1.5pt">Accumulated other comprehensive loss</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(77,914</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(139,483</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--StockholdersEquity_i02TI_pp0p0_maLASEzh0C_mtSEzzWr_zEykxG6LYva3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Total shareholders’ deficit</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(60,389,668</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(45,144,687</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--LiabilitiesAndStockholdersEquity_i01TI_pp0p0_mtLASEzh0C_zXC85xd7wcRg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total liabilities and shareholders’ deficit</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">27,169,466</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">33,576,011</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> SEAMLESS GROUP INC. SCHEDULE 1 Condensed Financial Information of the Company (Continued) Condensed statements of comprehensive income (loss) <table cellpadding="0" cellspacing="0" id="xdx_89F_eus-gaap--StatementOfIncomeAndComprehensiveIncomeAbstract_z5HcrrbYAlw" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in" summary="xdx: Disclosure - SCHEDULE OF CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Details)"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_49F_20230101__20231231__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember_z1kNq1WXmVx5" style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_49E_20220101__20221231__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember_zkbFZqmGA7h1" style="text-align: center"> </td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Years ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_401_eus-gaap--GeneralAndAdministrativeExpense_iN_di_msILFCOzlOu_zYfgLtzX8vC7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">General and administrative expenses</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">(4,573,125</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">(4,988,848</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--OtherNonoperatingIncome_maILFCOzlOu_zW4kgPSsYkcl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Other income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--FinanceCostsNet_msILFCOzlOu_zufL2n1yesIe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Finance costs, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,945,679</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(7,454,838</td><td style="text-align: left">)</td></tr> <tr id="xdx_40A_ecustom--ShareOfResultsFromSubsidiaries_iN_di_maCzIlz_msILFCOzlOu_zgSI9524IQhd" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Share of results from subsidiaries</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(5,787,749</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(4,234,448</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_iT_maCzzFt_mtILFCOzlOu_zcYFvnfc34Hg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Loss before income tax</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(15,306,550</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(16,678,134</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--IncomeTaxExpenseBenefit_iN_di_msCzzFt_ziLYRFcZrw9d" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Income tax expenses</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--NetIncomeLoss_iT_mtCzzFt_maCz44M_z7Eomreem0v" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net loss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(15,306,550</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(16,678,134</td><td style="text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract_iB_zekQ7bR6Ymh1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Other comprehensive income (loss)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--OtherComprehensiveIncomeLossTaxPortionAttributableToParent1_i01N_di_msCz44M_zR5REpGsrxmf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Foreign currency translation adjustments</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">10,608</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,529</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_i01T_mtCz44M_zvaROKIgcSz7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total comprehensive loss</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(15,295,942</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(16,673,605</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> SEAMLESS GROUP INC. SCHEDULE 1 Condensed Financial Information of the Company (Continued) Condensed statements of cash flows <table cellpadding="0" cellspacing="0" id="xdx_894_eus-gaap--StatementOfCashFlowsAbstract_ztbI3btDnzre" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in" summary="xdx: Disclosure - SCHEDULE OF CONDENSED STATEMENTS OF CASH FLOWS (Details)"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_491_20230101__20231231__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember_zwZgOgZwbWx8" style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_490_20220101__20221231__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember_z2dabgldqGV4" style="text-align: center"> </td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Years ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_403_eus-gaap--NetCashProvidedByUsedInOperatingActivitiesAbstract_iB_zR9igSFLv9Dg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Cash flows from operating activities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--NetIncomeLoss_i01_maCzW4h_zZL9keGigOgb" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">Net loss</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">(15,306,550</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">(16,678,134</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_i01B_zOBN9vJj7577" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Adjustments to reconcile net loss to net cash used in operating activities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--AmortizationOfDebtDiscountPremium_i02_maCzW4h_z3tpM685zae4" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Amortization of discount on convertible bonds</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">807,861</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,438,951</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--ForeignCurrencyTransactionGainLossUnrealized_i02N_di_msCzW4h_zIM2TQT4Jfmi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Unrealized foreign exchange gain</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">23,008</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(644</td><td style="text-align: left">)</td></tr> <tr id="xdx_402_ecustom--ShareOfResultsFromSubsidiaries_i02_maCzW4h_zRo4vVu2Y4gi" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Share of results from subsidiaries</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,787,749</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,234,448</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--IncreaseDecreaseInOperatingCapitalAbstract_i02B_zaO5VekkyBX8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Changes in operating assets and liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets_i03N_di_msCzW4h_zBV4uuzeGMn2" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Prepayments, deposits and other receivables</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(30,862</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(9,900</td><td style="text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--IncreaseDecreaseInAccruedLiabilities_i03_maCzW4h_zZD90JUbc5ji" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1.5pt">Accruals and other payables</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,206,601</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,797,118</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--NetCashProvidedByUsedInOperatingActivities_i02T_mtCzW4h_maCzyCp_zgttEal7U701" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt">Net cash used in operating activities</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(4,512,193</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(5,218,161</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--NetCashProvidedByUsedInInvestingActivitiesAbstract_iB_zNYluJSf3Mb5" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Cash flows from investing activities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--DividendFromSubsidiary_i02_maCzx7K_z8pwzUhzepge" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Dividend received from a subsidiary</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,847,309</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--PaymentsForProceedsFromShortTermInvestments_i01N_di_msCzx7K_zCvtunjt2Mm1" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">(Increase) decrease in short-term investments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,012,562</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--CashInjectedIntoSubsidiary_i01N_di_msCzx7K_z9F5FkwqEM01" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1.5pt">Cash injected into a subsidiary</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,012,562</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--NetCashProvidedByUsedInInvestingActivities_i01T_mtCzx7K_maCzyCp_zVhEqJtsXCx" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt">Net cash (used in) provided by investing activities</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,847,309</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--NetCashProvidedByUsedInFinancingActivitiesAbstract_iB_zr3hpn6tUoEg" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Cash flows from financing activities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--ProceedsFromIssuanceOfDebt_i01_maCzwbi_zpGUMwNQFvcl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Proceeds from borrowings</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,251,752</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,758,213</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--RepaymentsOfDebt_i01N_di_msCzwbi_zwvkALdZpUq8" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Repayment of borrowings</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,663,042</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,276,950</td><td style="text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--RepaymentsOfConvertibleDebt_i01N_di_msCzwbi_zZw2PVBlKXQa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Repayment of convertible bonds</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,483,133</td><td style="text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--ProceedsFromRelatedPartyDebt_i01_maCzwbi_zCoo7SVKWJGi" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Amounts due from related parties</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">691,323</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">301,958</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--ProceedsFromRepaymentsOfRelatedPartyDebt_i01_maCzwbi_zsrp3KMcHlTd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1.5pt">Amounts due to related parties</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,283,780</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,123,866</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--NetCashProvidedByUsedInFinancingActivities_i01T_mtCzwbi_maCzyCp_zCUaNfGvVwLl" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt">Net cash provided by financing activities</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,563,813</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,423,954</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect_iT_mtCzyCp_zvqEB3hfiaU2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net decrease in cash and cash equivalents</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">51,620</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">53,102</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_zN7zA2AtARm2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Effect of exchange rate changes on cash and cash equivalents</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">46</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">218</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_iS_zCh8nKBcnu0l" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Cash and cash equivalents at beginning of year</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">78,968</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">25,648</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_iE_z5mGsQyVwv31" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Cash and cash equivalents at end of year</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">130,634</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">78,968</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> SEAMLESS GROUP INC. SCHEDULE 1 Condensed Financial Information of the Company (Continued) Basis of presentation Condensed financial information is used for the presentation of the Company, or the parent company. The condensed financial information of the parent company has been prepared using the same accounting policies as set out in the Company’s consolidated financial statements except that the parent company used the equity method to account for investment in its subsidiaries. The parent company records its investment in its subsidiaries under the equity method of accounting as prescribed in ASC 323, Investments-Equity Method and Joint Ventures. Such investments are presented on the condensed balance sheets as “Investments in subsidiaries” and their respective results as “Share of results from subsidiaries” on the condensed statements of comprehensive income (loss). Equity method accounting ceases when the carrying amount of the investment, including any additional financial support, in subsidiaries, is reduced to zero unless the parent company has guaranteed obligations of the subsidiaries or is otherwise committed to provide further financial support. If the subsidiaries report net income, the parent company shall resume applying the equity method only after its share of that net income equals the share of net income (loss) not recognized during the period the equity method was suspended. The parent company’s condensed financial statements should be read in conjunction with the Company’s consolidated financial statements. Summarized financial information for the significant subsidiaries is as follows: <table cellpadding="0" cellspacing="0" id="xdx_890_eus-gaap--EquityMethodInvestmentSummarizedFinancialInformationAbstract_zo3xpSsSZ3Yl" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in" summary="xdx: Disclosure - SCHEDULE OF FINANCIAL INFORMATION FOR SIGNIFICANT SUBSIDIARIES (Details)"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_494_20231231__srt--ConsolidatedEntitiesAxis__srt--SubsidiariesMember_zz4n1Yj4awY8" style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_49E_20221231__srt--ConsolidatedEntitiesAxis__srt--SubsidiariesMember_z7J2oYOsUCke" style="text-align: center"> </td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_407_eus-gaap--AssetsCurrent_iI_zGDFMm5eFOQ" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Current assets</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">119,483,614</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">138,666,772</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--AssetsNoncurrent_iI_zkVT1waWZnk1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Non-current assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,145,689</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,578,365</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--LiabilitiesCurrent_iNI_zYQDmRCAOC6e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Current liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(109,261,136</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(121,931,207</td><td style="text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--LiabilitiesNoncurrent_iNI_zy6pRp2MdN41" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Non-current liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,566,977</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,156,719</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Revenue</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20230101__20231231__srt--ConsolidatedEntitiesAxis__srt--SubsidiariesMember_zqu1gKLROgR8" style="text-align: right" title="Revenue">58,493,819</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20220101__20221231__srt--ConsolidatedEntitiesAxis__srt--SubsidiariesMember_zeKAdYSSEzq8" style="text-align: right" title="Revenue">60,052,470</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net loss</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--NetIncomeLoss_c20230101__20231231__srt--ConsolidatedEntitiesAxis__srt--SubsidiariesMember_z8M8ADwaMj6d" style="text-align: right" title="Net (loss) income">(3,810,481</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--NetIncomeLoss_c20220101__20221231__srt--ConsolidatedEntitiesAxis__srt--SubsidiariesMember_z0STjO6UnbKb" style="text-align: right" title="Net (loss) income">(2,550,363</td><td style="text-align: left">)</td></tr> </table> Summarized investment activity is as follows: <table cellpadding="0" cellspacing="0" id="xdx_892_eus-gaap--ScheduleOfInvestmentsAbstract_zle9Ny3omn13" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in" summary="xdx: Disclosure - SCHEDULE OF INVESTMENT ACTIVITY (Details)"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_495_20230101__20231231_zXPVc8r2Xie" style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_49E_20220101__20221231_zfZy2jBJjRp" style="text-align: center"> </td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_402_ecustom--InvestmentsFairValueDisclosureBeginningBalance_iS_zJJUHbxJ0162" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Balance at the beginning of year</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">26,470,719</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">26,171,064</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--LossOnSaleOfInvestments_iN_di_zFSepprvbEX9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Allocated loss</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(5,787,749</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(7,081,757</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_40F_ecustom--InvestmentsFairValueDisclosureEndingBalance_iE_zJjJApw0gj47" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Balance at the end of year</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">20,682,970</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">19,089,307</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Commitments The Company does not have significant commitments or long-term obligations as of the period end other than those presented.

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1 Organization and business DESCRIPTION OF ORGANIZATION, BUSINESS OPERATIONS AND GOING CONCERN Seamless Group Inc. (the “Company”) is a limited liability company incorporated in Cayman Islands. It is an investment holding company. <p id="xdx_89E_eus-gaap--ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDescriptionTextBlock_zUZ1deq6uvAl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify">The Company’s principal subsidiaries at June 30, 2024 are set out below: SCHEDULE OF PRINCIPAL SUBSIDIARIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td colspan="3" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Percentage of ownership held by the Company</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center">Company Name</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center">Place of incorporation</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center">Principal activities</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Directly</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Indirectly</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 50%; text-align: center">Dynamic Investment Holdings Limited</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%; text-align: justify"> </td> <td id="xdx_98A_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20240101__20240630__srt--OwnershipAxis__custom--DynamicInvestmentHoldingsLimitedMember_zRuwqcRTvFQ8" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 1%; text-align: center">Cayman Islands</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 21%; text-align: justify"> </td> <td id="xdx_98E_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20240101__20240630__srt--OwnershipAxis__custom--DynamicInvestmentHoldingsLimitedMember_zzSOBstSQMwb" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 1%; text-align: center">Investment holding</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%; text-align: justify"> </td> <td id="xdx_98F_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_pid_dp_uPure_c20240101__20240630__srt--OwnershipAxis__custom--DynamicInvestmentHoldingsLimitedMember__us-gaap--InvestmentTypeAxis__custom--DirectlyMember_z2Y90S1M8Lae" style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: center">100%</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 21%; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: center">—</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Dynamic (Asia) Group Inc.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_988_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20240101__20240630__srt--OwnershipAxis__custom--DynamicAsiaGroupIncMember_z15FGPgBpIEh" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">British Virgin Islands</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_98B_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20240101__20240630__srt--OwnershipAxis__custom--DynamicAsiaGroupIncMember_zLDmNoVAPNy2" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Investment holding</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">—</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_980_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_pid_dp_uPure_c20240101__20240630__srt--OwnershipAxis__custom--DynamicAsiaGroupIncMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zcnM0nbRPOgl" style="font: 10pt Times New Roman, Times, Serif; text-align: center">100%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">TNG (Asia) Limited</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_982_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20240101__20240630__srt--OwnershipAxis__custom--TNGAsiaLimitedMember_zgZGiRGBHFbc" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Hong Kong</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_98A_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20240101__20240630__srt--OwnershipAxis__custom--TNGAsiaLimitedMember_z8aLcKFOx2Na" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Provision of mobile electronic wallet</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_980_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_pid_dp_uPure_c20240101__20240630__srt--OwnershipAxis__custom--TNGAsiaLimitedMember__us-gaap--InvestmentTypeAxis__custom--DirectlyMember_zQrgj71Kl054" style="font: 10pt Times New Roman, Times, Serif; text-align: center">100%</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">—</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Tranglo Sdn. Bhd.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_980_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20240101__20240630__srt--OwnershipAxis__custom--TrangloSdnBhdMember_z2EKzdPCAmQc" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Malaysia</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_98F_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20240101__20240630__srt--OwnershipAxis__custom--TrangloSdnBhdMember_zmYegeDzJeid" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Provision of international airtime reload, international money transfer services, its related implementation, technical and maintenance services</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">—</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_988_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_pid_dp_uPure_c20240101__20240630__srt--OwnershipAxis__custom--TrangloSdnBhdMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zvj8zwTpMvI3" style="font: 10pt Times New Roman, Times, Serif; text-align: center">60%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">未來網絡科技投資股份有限公司</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_984_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20240101__20240630__srt--OwnershipAxis__custom--FutureNetworkTechnologyInvestmentCoLtdMember_zW2PyA0OVU3i" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Taiwan</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_98C_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20240101__20240630__srt--OwnershipAxis__custom--FutureNetworkTechnologyInvestmentCoLtdMember_zPnhIaPkmxE5" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Investment holding</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">—</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_98E_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_pid_dp_uPure_c20240101__20240630__srt--OwnershipAxis__custom--FutureNetworkTechnologyInvestmentCoLtdMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zLSIw4C8egzf" style="font: 10pt Times New Roman, Times, Serif; text-align: center">100%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">GEA Holdings Limited</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_986_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20240101__20240630__srt--OwnershipAxis__custom--GEAHoldingsLimitedMember_zL3uKMKs92t1" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Cayman Islands</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_985_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20240101__20240630__srt--OwnershipAxis__custom--GEAHoldingsLimitedMember_znqr0rWSkw2g" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Investment holding</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">—</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_98B_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_pid_dp_uPure_c20240101__20240630__srt--OwnershipAxis__custom--GEAHoldingsLimitedMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zwsGUYfc9zqc" style="font: 10pt Times New Roman, Times, Serif; text-align: center">100%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">GEA Limited</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_988_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20240101__20240630__srt--OwnershipAxis__custom--GEALimitedMember_zdsrquS3NO7d" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Hong Kong</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_98F_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20240101__20240630__dei--LegalEntityAxis__custom--GEALimitedMember_zvBLxlT7tZb3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Operating a global fund transfer platform for financial institutions, e-wallet operators and other participants</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">—</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_985_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_pid_dp_uPure_c20240101__20240630__srt--OwnershipAxis__custom--GEALimitedMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zr4WHOqAol3b" style="font: 10pt Times New Roman, Times, Serif; text-align: center">100%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Bagus Fintech Pte. Ltd.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_98E_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20240101__20240630__srt--OwnershipAxis__custom--GEAPteLtdMember_zqovVrbEFLA5" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Singapore</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_984_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20240101__20240630__srt--OwnershipAxis__custom--GEAPteLtdMember_zg55HiH3dEae" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Providing business center services</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">—</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_98F_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_pid_dp_uPure_c20240101__20240630__srt--OwnershipAxis__custom--GEAPteLtdMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_z30vaTn8fhdk" style="font: 10pt Times New Roman, Times, Serif; text-align: center">100%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Dynamic (Asia) Holdings Limited</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_98B_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20240101__20240630__srt--OwnershipAxis__custom--DynamicAsiaHoldingsLimitedMember_ztJlZcyytr8k" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Cayman Islands</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_98C_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20240101__20240630__srt--OwnershipAxis__custom--DynamicAsiaHoldingsLimitedMember_zfKyvSR9bmvc" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Investment holding</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">—</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_987_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_pid_dp_uPure_c20240101__20240630__srt--OwnershipAxis__custom--DynamicAsiaHoldingsLimitedMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zja6TX2ax2qc" style="font: 10pt Times New Roman, Times, Serif; text-align: center">100%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Dynamic FinTech Group (HK) Limited</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_980_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20240101__20240630__srt--OwnershipAxis__custom--DynamicFinTechGroupHKLimitedMember_z7xSEtFCf2X1" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Hong Kong</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_98D_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20240101__20240630__srt--OwnershipAxis__custom--DynamicFinTechGroupHKLimitedMember_zzHJvtmE4pXe" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Provision of corporate governance consultancy, management and advisory services</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">—</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_98D_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_pid_dp_uPure_c20240101__20240630__srt--OwnershipAxis__custom--DynamicFinTechGroupHKLimitedMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zSU1vVMhprD1" style="font: 10pt Times New Roman, Times, Serif; text-align: center">100%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Tranglo Holdings Limited</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_98A_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20240101__20240630__srt--OwnershipAxis__custom--TrangloHoldingsLimitedMember_zfpO34lsilY" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Cayman Islands</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_98A_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20240101__20240630__srt--OwnershipAxis__custom--TrangloHoldingsLimitedMember_zEINtYr7oDKd" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Investment holding</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">—</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_98E_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_pid_dp_uPure_c20240101__20240630__srt--OwnershipAxis__custom--TrangloHoldingsLimitedMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zmOtKmBIEagf" style="font: 10pt Times New Roman, Times, Serif; text-align: center">100%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">The WSF Group Holdings Limited</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_98D_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20240101__20240630__srt--OwnershipAxis__custom--TheWSFGroupHoldingsLimitedMember_zUtGQOeLLv24" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">British Virgin Islands</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_986_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20240101__20240630__srt--OwnershipAxis__custom--TheWSFGroupHoldingsLimitedMember_zNuSIREbDcAc" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Investment holding</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">—</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_980_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_pid_dp_uPure_c20240101__20240630__srt--OwnershipAxis__custom--TheWSFGroupHoldingsLimitedMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zMCkra95H9sa" style="font: 10pt Times New Roman, Times, Serif; text-align: center">100%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">The Wall Street Factory Limited</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_98B_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20240101__20240630__srt--OwnershipAxis__custom--TheWallStreetFactoryLimitedMember_zdp973HcHKJ1" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Hong Kong</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_98F_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20240101__20240630__srt--OwnershipAxis__custom--TheWallStreetFactoryLimitedMember_z8UioIsZHcAj" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Providing business center services</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">—</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_981_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_pid_dp_uPure_c20240101__20240630__srt--OwnershipAxis__custom--TheWallStreetFactoryLimitedMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zYdMkjxaDjed" style="font: 10pt Times New Roman, Times, Serif; text-align: center">100%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Bagus Financial Services Limited</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_983_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20240101__20240630__srt--OwnershipAxis__custom--BagusFinancialServicesLimitedMember_z0l4XJSfRCD5" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Hong Kong</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_984_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20240101__20240630__srt--OwnershipAxis__custom--BagusFinancialServicesLimitedMember_zm0HcToWNVfh" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Provision of IR services and PR function events</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">—</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_98F_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_pid_dp_uPure_c20240101__20240630__srt--OwnershipAxis__custom--BagusFinancialServicesLimitedMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zYNLm3fu4WGg" style="font: 10pt Times New Roman, Times, Serif; text-align: center">100%</td></tr> </table> SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 0.5in">1</td> <td>Organization and business (Continued)</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center"> </td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center"> </td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center"> </td> <td> </td> <td colspan="3" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Percentage of ownership held by the Company</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 50%; text-align: center">Company Name</td> <td style="text-align: center; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 1%; text-align: center">Place of incorporation</td> <td style="text-align: center; width: 21%"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 1%; text-align: center">Principal activities</td> <td style="text-align: center; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: center">Directly</td> <td style="text-align: center; width: 21%"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: center">Indirectly</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">PT Tranglo Indonesia</td> <td> </td> <td id="xdx_982_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20240101__20240630__srt--OwnershipAxis__custom--PTTrangloIndonesiaMember_zTMpmgn9htgh" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Indonesia</td> <td> </td> <td id="xdx_981_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20240101__20240630__srt--OwnershipAxis__custom--PTTrangloIndonesiaMember_zGpys9b2cml9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Operating money remittance business</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">—</td> <td> </td> <td id="xdx_989_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_pid_dp_uPure_c20240101__20240630__srt--OwnershipAxis__custom--PTTrangloIndonesiaMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zBVMfvCO6Z63" style="font: 10pt Times New Roman, Times, Serif; text-align: center">60%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">PT Tranglo Solusindo</td> <td> </td> <td id="xdx_985_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20240101__20240630__srt--OwnershipAxis__custom--PTTrangloSolusindoMember_zuebgxJDrvXg" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Indonesia</td> <td> </td> <td id="xdx_980_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20240101__20240630__srt--OwnershipAxis__custom--PTTrangloSolusindoMember_zSn6Zd5hOkhl" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Providing and sourcing airtime and other related services</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">—</td> <td> </td> <td id="xdx_98B_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_pid_dp_uPure_c20240101__20240630__srt--OwnershipAxis__custom--PTTrangloSolusindoMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zvZexJDOyGul" style="font: 10pt Times New Roman, Times, Serif; text-align: center">60%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Tranglo (MEA) Limited</td> <td> </td> <td id="xdx_988_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20240101__20240630__srt--OwnershipAxis__custom--TrangloMEALimitedMember_zsD6Jnhb4see" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Hong Kong</td> <td> </td> <td id="xdx_988_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20240101__20240630__srt--OwnershipAxis__custom--TrangloMEALimitedMember_zrsxZ9p6J5zh" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Providing and sourcing airtime and other related services</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">—</td> <td> </td> <td id="xdx_985_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_pid_dp_uPure_c20240101__20240630__srt--OwnershipAxis__custom--TrangloMEALimitedMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zWDJEzLQl5Qe" style="font: 10pt Times New Roman, Times, Serif; text-align: center">60%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Tranglo Europe Ltd</td> <td> </td> <td id="xdx_98D_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20240101__20240630__srt--OwnershipAxis__custom--TrangloEuropeLimitedMember_z3wk833gN2Bc" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">United Kingdom</td> <td> </td> <td id="xdx_989_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20240101__20240630__srt--OwnershipAxis__custom--TrangloEuropeLimitedMember_zE7pf5VCAieg" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Operating money remittance business</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">—</td> <td> </td> <td id="xdx_983_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_pid_dp_uPure_c20240101__20240630__srt--OwnershipAxis__custom--TrangloEuropeLimitedMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zdYs2LnahFs8" style="font: 10pt Times New Roman, Times, Serif; text-align: center">60%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Tranglo Pte. Ltd.</td> <td> </td> <td id="xdx_98F_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20240101__20240630__srt--OwnershipAxis__custom--TrangloPteLtdMember_zsWtdZUIoDY" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Singapore</td> <td> </td> <td id="xdx_982_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20240101__20240630__srt--OwnershipAxis__custom--TrangloPteLtdMember_zgGIzoSqszoe" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Operating money remittance business</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">—</td> <td> </td> <td id="xdx_981_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_pid_dp_uPure_c20240101__20240630__srt--OwnershipAxis__custom--TrangloPteLtdMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zKxrdM4c1bci" style="font: 10pt Times New Roman, Times, Serif; text-align: center">60%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Tik FX Malaysia Sdn. Bhd.</td> <td> </td> <td id="xdx_983_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20240101__20240630__srt--OwnershipAxis__custom--TikFXMalaysiaSdnBhdMember_zI8o8PqDWakd" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Malaysia</td> <td> </td> <td id="xdx_98A_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20240101__20240630__srt--OwnershipAxis__custom--TikFXMalaysiaSdnBhdMember_z5FPgclM3gS5" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Dormant</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">—</td> <td> </td> <td id="xdx_98F_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_pid_dp_uPure_c20240101__20240630__srt--OwnershipAxis__custom--TikFXMalaysiaSdnBhdMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_z3kX0kB04r86" style="font: 10pt Times New Roman, Times, Serif; text-align: center">60%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Treatsup Sdn. Bhd.</td> <td> </td> <td id="xdx_982_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20240101__20240630__srt--OwnershipAxis__custom--TreatsupSdnBhdMember_zV2RsB6DfqAf" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Malaysia</td> <td> </td> <td id="xdx_984_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20240101__20240630__srt--OwnershipAxis__custom--TreatsupSdnBhdMember_zUEnN0R7rzZb" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Research, development and commercialisation of Treatsup application and provision of implementation, technical services and maintenance related to the application</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">—</td> <td> </td> <td id="xdx_985_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_pid_dp_uPure_c20240101__20240630__srt--OwnershipAxis__custom--TreatsupSdnBhdMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zHurzmssu696" style="font: 10pt Times New Roman, Times, Serif; text-align: center">60%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Dynamic Indonesia Holdings Limited</td> <td> </td> <td id="xdx_987_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20240101__20240630__srt--OwnershipAxis__custom--DynamicIndonesiaHoldingsLimitedMember_zXS7lRtZvsf4" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Cayman Islands</td> <td> </td> <td id="xdx_985_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20240101__20240630__srt--OwnershipAxis__custom--DynamicIndonesiaHoldingsLimitedMember_zIHOqDJGiwhj" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Investment holding</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">—</td> <td> </td> <td id="xdx_986_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_pid_dp_uPure_c20240101__20240630__srt--OwnershipAxis__custom--DynamicIndonesiaHoldingsLimitedMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zcNFKPJsPWM9" style="font: 10pt Times New Roman, Times, Serif; text-align: center">59.2%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Dynamic Indonesia Pte. Ltd.</td> <td> </td> <td id="xdx_988_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20240101__20240630__srt--OwnershipAxis__custom--DynamicIndonesiaPteLtdMember_zXMVRxf5yJg8" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Singapore</td> <td> </td> <td id="xdx_985_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20240101__20240630__srt--OwnershipAxis__custom--DynamicIndonesiaPteLtdMember_zFtdsZKkaWv9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Retail sales via the internet and development of other software and programming activities</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center">—</td> <td> </td> <td id="xdx_989_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_pid_dp_uPure_c20240101__20240630__srt--OwnershipAxis__custom--DynamicIndonesiaPteLtdMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_ziGgCpbfvtab" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center">49.8%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">PT Dynamic Wallet Indonesia</td> <td> </td> <td id="xdx_98D_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20240101__20240630__srt--OwnershipAxis__custom--PTTNGWalletIndonesiaMember_zyK5nb1cTi89" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Indonesia</td> <td> </td> <td id="xdx_981_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20240101__20240630__srt--OwnershipAxis__custom--PTTNGWalletIndonesiaMember_zM2f87GHe3qc" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Business operations have not commenced</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center">—</td> <td> </td> <td id="xdx_987_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_pid_dp_uPure_c20240101__20240630__srt--OwnershipAxis__custom--PTTNGWalletIndonesiaMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zWBBUzrAFXcl" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center">49.9%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">PT Walletku Indompet Indonesia</td> <td> </td> <td id="xdx_981_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20240101__20240630__srt--OwnershipAxis__custom--PTWalletkuIndompetIndonesiaMember_zWQ3vDQjxQ14" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Indonesia</td> <td> </td> <td id="xdx_984_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20240101__20240630__srt--OwnershipAxis__custom--PTWalletkuIndompetIndonesiaMember_zh0oi8tMvqmf" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">(i) Retail commerce through media, for textile commodities, clothing, footwear and personal needs, (ii) web portal and/or digital platforms for commercial purposes, and (iii) software publisher</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center">—</td> <td> </td> <td id="xdx_988_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_pid_dp_uPure_c20240101__20240630__srt--OwnershipAxis__custom--PTWalletkuIndompetIndonesiaMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zMMdcJ9ranp9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center">49.9%</td></tr> </table> SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

<p id="xdx_89E_eus-gaap--ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDescriptionTextBlock_zUZ1deq6uvAl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify">The Company’s principal subsidiaries at June 30, 2024 are set out below: SCHEDULE OF PRINCIPAL SUBSIDIARIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td colspan="3" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Percentage of ownership held by the Company</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center">Company Name</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center">Place of incorporation</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center">Principal activities</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Directly</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Indirectly</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 50%; text-align: center">Dynamic Investment Holdings Limited</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%; text-align: justify"> </td> <td id="xdx_98A_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20240101__20240630__srt--OwnershipAxis__custom--DynamicInvestmentHoldingsLimitedMember_zRuwqcRTvFQ8" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 1%; text-align: center">Cayman Islands</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 21%; text-align: justify"> </td> <td id="xdx_98E_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20240101__20240630__srt--OwnershipAxis__custom--DynamicInvestmentHoldingsLimitedMember_zzSOBstSQMwb" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 1%; text-align: center">Investment holding</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%; text-align: justify"> </td> <td id="xdx_98F_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_pid_dp_uPure_c20240101__20240630__srt--OwnershipAxis__custom--DynamicInvestmentHoldingsLimitedMember__us-gaap--InvestmentTypeAxis__custom--DirectlyMember_z2Y90S1M8Lae" style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: center">100%</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 21%; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: center">—</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Dynamic (Asia) Group Inc.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_988_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20240101__20240630__srt--OwnershipAxis__custom--DynamicAsiaGroupIncMember_z15FGPgBpIEh" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">British Virgin Islands</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_98B_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20240101__20240630__srt--OwnershipAxis__custom--DynamicAsiaGroupIncMember_zLDmNoVAPNy2" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Investment holding</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">—</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_980_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_pid_dp_uPure_c20240101__20240630__srt--OwnershipAxis__custom--DynamicAsiaGroupIncMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zcnM0nbRPOgl" style="font: 10pt Times New Roman, Times, Serif; text-align: center">100%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">TNG (Asia) Limited</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_982_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20240101__20240630__srt--OwnershipAxis__custom--TNGAsiaLimitedMember_zgZGiRGBHFbc" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Hong Kong</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_98A_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20240101__20240630__srt--OwnershipAxis__custom--TNGAsiaLimitedMember_z8aLcKFOx2Na" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Provision of mobile electronic wallet</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_980_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_pid_dp_uPure_c20240101__20240630__srt--OwnershipAxis__custom--TNGAsiaLimitedMember__us-gaap--InvestmentTypeAxis__custom--DirectlyMember_zQrgj71Kl054" style="font: 10pt Times New Roman, Times, Serif; text-align: center">100%</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">—</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Tranglo Sdn. Bhd.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_980_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20240101__20240630__srt--OwnershipAxis__custom--TrangloSdnBhdMember_z2EKzdPCAmQc" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Malaysia</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_98F_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20240101__20240630__srt--OwnershipAxis__custom--TrangloSdnBhdMember_zmYegeDzJeid" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Provision of international airtime reload, international money transfer services, its related implementation, technical and maintenance services</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">—</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_988_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_pid_dp_uPure_c20240101__20240630__srt--OwnershipAxis__custom--TrangloSdnBhdMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zvj8zwTpMvI3" style="font: 10pt Times New Roman, Times, Serif; text-align: center">60%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">未來網絡科技投資股份有限公司</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_984_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20240101__20240630__srt--OwnershipAxis__custom--FutureNetworkTechnologyInvestmentCoLtdMember_zW2PyA0OVU3i" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Taiwan</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_98C_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20240101__20240630__srt--OwnershipAxis__custom--FutureNetworkTechnologyInvestmentCoLtdMember_zPnhIaPkmxE5" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Investment holding</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">—</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_98E_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_pid_dp_uPure_c20240101__20240630__srt--OwnershipAxis__custom--FutureNetworkTechnologyInvestmentCoLtdMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zLSIw4C8egzf" style="font: 10pt Times New Roman, Times, Serif; text-align: center">100%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">GEA Holdings Limited</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_986_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20240101__20240630__srt--OwnershipAxis__custom--GEAHoldingsLimitedMember_zL3uKMKs92t1" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Cayman Islands</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_985_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20240101__20240630__srt--OwnershipAxis__custom--GEAHoldingsLimitedMember_znqr0rWSkw2g" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Investment holding</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">—</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_98B_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_pid_dp_uPure_c20240101__20240630__srt--OwnershipAxis__custom--GEAHoldingsLimitedMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zwsGUYfc9zqc" style="font: 10pt Times New Roman, Times, Serif; text-align: center">100%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">GEA Limited</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_988_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20240101__20240630__srt--OwnershipAxis__custom--GEALimitedMember_zdsrquS3NO7d" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Hong Kong</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_98F_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20240101__20240630__dei--LegalEntityAxis__custom--GEALimitedMember_zvBLxlT7tZb3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Operating a global fund transfer platform for financial institutions, e-wallet operators and other participants</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">—</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_985_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_pid_dp_uPure_c20240101__20240630__srt--OwnershipAxis__custom--GEALimitedMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zr4WHOqAol3b" style="font: 10pt Times New Roman, Times, Serif; text-align: center">100%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Bagus Fintech Pte. Ltd.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_98E_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20240101__20240630__srt--OwnershipAxis__custom--GEAPteLtdMember_zqovVrbEFLA5" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Singapore</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_984_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20240101__20240630__srt--OwnershipAxis__custom--GEAPteLtdMember_zg55HiH3dEae" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Providing business center services</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">—</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_98F_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_pid_dp_uPure_c20240101__20240630__srt--OwnershipAxis__custom--GEAPteLtdMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_z30vaTn8fhdk" style="font: 10pt Times New Roman, Times, Serif; text-align: center">100%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Dynamic (Asia) Holdings Limited</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_98B_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20240101__20240630__srt--OwnershipAxis__custom--DynamicAsiaHoldingsLimitedMember_ztJlZcyytr8k" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Cayman Islands</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_98C_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20240101__20240630__srt--OwnershipAxis__custom--DynamicAsiaHoldingsLimitedMember_zfKyvSR9bmvc" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Investment holding</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">—</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_987_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_pid_dp_uPure_c20240101__20240630__srt--OwnershipAxis__custom--DynamicAsiaHoldingsLimitedMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zja6TX2ax2qc" style="font: 10pt Times New Roman, Times, Serif; text-align: center">100%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Dynamic FinTech Group (HK) Limited</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_980_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20240101__20240630__srt--OwnershipAxis__custom--DynamicFinTechGroupHKLimitedMember_z7xSEtFCf2X1" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Hong Kong</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_98D_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20240101__20240630__srt--OwnershipAxis__custom--DynamicFinTechGroupHKLimitedMember_zzHJvtmE4pXe" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Provision of corporate governance consultancy, management and advisory services</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">—</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_98D_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_pid_dp_uPure_c20240101__20240630__srt--OwnershipAxis__custom--DynamicFinTechGroupHKLimitedMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zSU1vVMhprD1" style="font: 10pt Times New Roman, Times, Serif; text-align: center">100%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Tranglo Holdings Limited</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_98A_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20240101__20240630__srt--OwnershipAxis__custom--TrangloHoldingsLimitedMember_zfpO34lsilY" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Cayman Islands</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_98A_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20240101__20240630__srt--OwnershipAxis__custom--TrangloHoldingsLimitedMember_zEINtYr7oDKd" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Investment holding</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">—</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_98E_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_pid_dp_uPure_c20240101__20240630__srt--OwnershipAxis__custom--TrangloHoldingsLimitedMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zmOtKmBIEagf" style="font: 10pt Times New Roman, Times, Serif; text-align: center">100%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">The WSF Group Holdings Limited</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_98D_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20240101__20240630__srt--OwnershipAxis__custom--TheWSFGroupHoldingsLimitedMember_zUtGQOeLLv24" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">British Virgin Islands</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_986_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20240101__20240630__srt--OwnershipAxis__custom--TheWSFGroupHoldingsLimitedMember_zNuSIREbDcAc" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Investment holding</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">—</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_980_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_pid_dp_uPure_c20240101__20240630__srt--OwnershipAxis__custom--TheWSFGroupHoldingsLimitedMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zMCkra95H9sa" style="font: 10pt Times New Roman, Times, Serif; text-align: center">100%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">The Wall Street Factory Limited</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_98B_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20240101__20240630__srt--OwnershipAxis__custom--TheWallStreetFactoryLimitedMember_zdp973HcHKJ1" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Hong Kong</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_98F_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20240101__20240630__srt--OwnershipAxis__custom--TheWallStreetFactoryLimitedMember_z8UioIsZHcAj" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Providing business center services</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">—</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_981_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_pid_dp_uPure_c20240101__20240630__srt--OwnershipAxis__custom--TheWallStreetFactoryLimitedMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zYdMkjxaDjed" style="font: 10pt Times New Roman, Times, Serif; text-align: center">100%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Bagus Financial Services Limited</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_983_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20240101__20240630__srt--OwnershipAxis__custom--BagusFinancialServicesLimitedMember_z0l4XJSfRCD5" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Hong Kong</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_984_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20240101__20240630__srt--OwnershipAxis__custom--BagusFinancialServicesLimitedMember_zm0HcToWNVfh" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Provision of IR services and PR function events</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">—</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td id="xdx_98F_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_pid_dp_uPure_c20240101__20240630__srt--OwnershipAxis__custom--BagusFinancialServicesLimitedMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zYNLm3fu4WGg" style="font: 10pt Times New Roman, Times, Serif; text-align: center">100%</td></tr> </table> SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 0.5in">1</td> <td>Organization and business (Continued)</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center"> </td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center"> </td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center"> </td> <td> </td> <td colspan="3" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Percentage of ownership held by the Company</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 50%; text-align: center">Company Name</td> <td style="text-align: center; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 1%; text-align: center">Place of incorporation</td> <td style="text-align: center; width: 21%"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 1%; text-align: center">Principal activities</td> <td style="text-align: center; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: center">Directly</td> <td style="text-align: center; width: 21%"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: center">Indirectly</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">PT Tranglo Indonesia</td> <td> </td> <td id="xdx_982_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20240101__20240630__srt--OwnershipAxis__custom--PTTrangloIndonesiaMember_zTMpmgn9htgh" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Indonesia</td> <td> </td> <td id="xdx_981_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20240101__20240630__srt--OwnershipAxis__custom--PTTrangloIndonesiaMember_zGpys9b2cml9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Operating money remittance business</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">—</td> <td> </td> <td id="xdx_989_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_pid_dp_uPure_c20240101__20240630__srt--OwnershipAxis__custom--PTTrangloIndonesiaMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zBVMfvCO6Z63" style="font: 10pt Times New Roman, Times, Serif; text-align: center">60%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">PT Tranglo Solusindo</td> <td> </td> <td id="xdx_985_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20240101__20240630__srt--OwnershipAxis__custom--PTTrangloSolusindoMember_zuebgxJDrvXg" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Indonesia</td> <td> </td> <td id="xdx_980_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20240101__20240630__srt--OwnershipAxis__custom--PTTrangloSolusindoMember_zSn6Zd5hOkhl" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Providing and sourcing airtime and other related services</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">—</td> <td> </td> <td id="xdx_98B_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_pid_dp_uPure_c20240101__20240630__srt--OwnershipAxis__custom--PTTrangloSolusindoMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zvZexJDOyGul" style="font: 10pt Times New Roman, Times, Serif; text-align: center">60%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Tranglo (MEA) Limited</td> <td> </td> <td id="xdx_988_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20240101__20240630__srt--OwnershipAxis__custom--TrangloMEALimitedMember_zsD6Jnhb4see" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Hong Kong</td> <td> </td> <td id="xdx_988_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20240101__20240630__srt--OwnershipAxis__custom--TrangloMEALimitedMember_zrsxZ9p6J5zh" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Providing and sourcing airtime and other related services</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">—</td> <td> </td> <td id="xdx_985_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_pid_dp_uPure_c20240101__20240630__srt--OwnershipAxis__custom--TrangloMEALimitedMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zWDJEzLQl5Qe" style="font: 10pt Times New Roman, Times, Serif; text-align: center">60%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Tranglo Europe Ltd</td> <td> </td> <td id="xdx_98D_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20240101__20240630__srt--OwnershipAxis__custom--TrangloEuropeLimitedMember_z3wk833gN2Bc" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">United Kingdom</td> <td> </td> <td id="xdx_989_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20240101__20240630__srt--OwnershipAxis__custom--TrangloEuropeLimitedMember_zE7pf5VCAieg" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Operating money remittance business</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">—</td> <td> </td> <td id="xdx_983_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_pid_dp_uPure_c20240101__20240630__srt--OwnershipAxis__custom--TrangloEuropeLimitedMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zdYs2LnahFs8" style="font: 10pt Times New Roman, Times, Serif; text-align: center">60%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Tranglo Pte. Ltd.</td> <td> </td> <td id="xdx_98F_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20240101__20240630__srt--OwnershipAxis__custom--TrangloPteLtdMember_zsWtdZUIoDY" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Singapore</td> <td> </td> <td id="xdx_982_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20240101__20240630__srt--OwnershipAxis__custom--TrangloPteLtdMember_zgGIzoSqszoe" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Operating money remittance business</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">—</td> <td> </td> <td id="xdx_981_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_pid_dp_uPure_c20240101__20240630__srt--OwnershipAxis__custom--TrangloPteLtdMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zKxrdM4c1bci" style="font: 10pt Times New Roman, Times, Serif; text-align: center">60%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Tik FX Malaysia Sdn. Bhd.</td> <td> </td> <td id="xdx_983_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20240101__20240630__srt--OwnershipAxis__custom--TikFXMalaysiaSdnBhdMember_zI8o8PqDWakd" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Malaysia</td> <td> </td> <td id="xdx_98A_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20240101__20240630__srt--OwnershipAxis__custom--TikFXMalaysiaSdnBhdMember_z5FPgclM3gS5" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Dormant</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">—</td> <td> </td> <td id="xdx_98F_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_pid_dp_uPure_c20240101__20240630__srt--OwnershipAxis__custom--TikFXMalaysiaSdnBhdMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_z3kX0kB04r86" style="font: 10pt Times New Roman, Times, Serif; text-align: center">60%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Treatsup Sdn. Bhd.</td> <td> </td> <td id="xdx_982_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20240101__20240630__srt--OwnershipAxis__custom--TreatsupSdnBhdMember_zV2RsB6DfqAf" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Malaysia</td> <td> </td> <td id="xdx_984_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20240101__20240630__srt--OwnershipAxis__custom--TreatsupSdnBhdMember_zUEnN0R7rzZb" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Research, development and commercialisation of Treatsup application and provision of implementation, technical services and maintenance related to the application</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">—</td> <td> </td> <td id="xdx_985_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_pid_dp_uPure_c20240101__20240630__srt--OwnershipAxis__custom--TreatsupSdnBhdMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zHurzmssu696" style="font: 10pt Times New Roman, Times, Serif; text-align: center">60%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Dynamic Indonesia Holdings Limited</td> <td> </td> <td id="xdx_987_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20240101__20240630__srt--OwnershipAxis__custom--DynamicIndonesiaHoldingsLimitedMember_zXS7lRtZvsf4" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Cayman Islands</td> <td> </td> <td id="xdx_985_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20240101__20240630__srt--OwnershipAxis__custom--DynamicIndonesiaHoldingsLimitedMember_zIHOqDJGiwhj" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Investment holding</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">—</td> <td> </td> <td id="xdx_986_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_pid_dp_uPure_c20240101__20240630__srt--OwnershipAxis__custom--DynamicIndonesiaHoldingsLimitedMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zcNFKPJsPWM9" style="font: 10pt Times New Roman, Times, Serif; text-align: center">59.2%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Dynamic Indonesia Pte. Ltd.</td> <td> </td> <td id="xdx_988_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20240101__20240630__srt--OwnershipAxis__custom--DynamicIndonesiaPteLtdMember_zXMVRxf5yJg8" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Singapore</td> <td> </td> <td id="xdx_985_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20240101__20240630__srt--OwnershipAxis__custom--DynamicIndonesiaPteLtdMember_zFtdsZKkaWv9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Retail sales via the internet and development of other software and programming activities</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center">—</td> <td> </td> <td id="xdx_989_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_pid_dp_uPure_c20240101__20240630__srt--OwnershipAxis__custom--DynamicIndonesiaPteLtdMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_ziGgCpbfvtab" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center">49.8%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">PT Dynamic Wallet Indonesia</td> <td> </td> <td id="xdx_98D_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20240101__20240630__srt--OwnershipAxis__custom--PTTNGWalletIndonesiaMember_zyK5nb1cTi89" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Indonesia</td> <td> </td> <td id="xdx_981_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20240101__20240630__srt--OwnershipAxis__custom--PTTNGWalletIndonesiaMember_zM2f87GHe3qc" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Business operations have not commenced</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center">—</td> <td> </td> <td id="xdx_987_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_pid_dp_uPure_c20240101__20240630__srt--OwnershipAxis__custom--PTTNGWalletIndonesiaMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zWBBUzrAFXcl" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center">49.9%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">PT Walletku Indompet Indonesia</td> <td> </td> <td id="xdx_981_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20240101__20240630__srt--OwnershipAxis__custom--PTWalletkuIndompetIndonesiaMember_zWQ3vDQjxQ14" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">Indonesia</td> <td> </td> <td id="xdx_984_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_c20240101__20240630__srt--OwnershipAxis__custom--PTWalletkuIndompetIndonesiaMember_zh0oi8tMvqmf" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center">(i) Retail commerce through media, for textile commodities, clothing, footwear and personal needs, (ii) web portal and/or digital platforms for commercial purposes, and (iii) software publisher</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center">—</td> <td> </td> <td id="xdx_988_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_pid_dp_uPure_c20240101__20240630__srt--OwnershipAxis__custom--PTWalletkuIndompetIndonesiaMember__us-gaap--InvestmentTypeAxis__custom--IndirectlyMember_zMMdcJ9ranp9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center">49.9%</td></tr> </table>

Cayman Islands

Investment holding

British Virgin Islands

Investment holding

Hong Kong

Provision of mobile electronic wallet

Malaysia

Provision of international airtime reload, international money transfer services, its related implementation, technical and maintenance services

0.60

Taiwan

Investment holding

Cayman Islands

Investment holding

Hong Kong

Operating a global fund transfer platform for financial institutions, e-wallet operators and other participants

Singapore

Providing business center services

Cayman Islands

Investment holding

Hong Kong

Provision of corporate governance consultancy, management and advisory services

Cayman Islands

Investment holding

British Virgin Islands

Investment holding

Hong Kong

Providing business center services

Hong Kong

Provision of IR services and PR function events

Indonesia

Operating money remittance business

0.60

Indonesia

Providing and sourcing airtime and other related services

0.60

Hong Kong

Providing and sourcing airtime and other related services

0.60

United Kingdom

Operating money remittance business

0.60

Singapore

Operating money remittance business

0.60

Malaysia

Dormant

0.60

Malaysia

Research, development and commercialisation of Treatsup application and provision of implementation, technical services and maintenance related to the application

0.60

Cayman Islands

Investment holding

0.592

Singapore

Retail sales via the internet and development of other software and programming activities

0.498

Indonesia

Business operations have not commenced

0.499

Indonesia

(i) Retail commerce through media, for textile commodities, clothing, footwear and personal needs, (ii) web portal and/or digital platforms for commercial purposes, and (iii) software publisher

0.499

2 Summary of significant accounting policies SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (a) Basis of presentation and principles of consolidation The unaudited condensed consolidated financial statements reflect all normal and recurring adjustments that are, in the opinion of management, necessary to present a fair statement of the Company’s financial position as of June 30, 2024 and the results of operations for the Six months ended June 30, 2024 and 2023. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary in order to make the consolidated financial statements not misleading have been included. The unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) and accordingly do not include all of the disclosures normally made in the Company’s annual financial statements. Accordingly, these unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto for the fiscal year ended December 31, 2023. (b) Going concern The accompanying unaudited consolidated financial statements have been prepared using the going concern basis of accounting, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As of June 30, 2024, the Company had cash balances of $48.6 million, a working capital deficit of $76 million and net capital deficit $42.5 million. For the Six months period ended June 30, 2024, the Company had a net loss of $6.2 million and net cash used in operating activities of $2.1 million. Net cash used in investing activities was $0.2 million. Net cash generated from financing activities was $0.2 million, resulting principally from proceeds of borrowings. While the Company believes that it will be able to continue to grow the Company’s revenue base and control expenditures, there is no assurance that it will be able to achieve these goals. As a result, the Company continually monitors its capital structure and operating plans and evaluates various potential funding alternatives that may be needed to finance the Company’s business development activities, general and administrative expenses and growth strategy. (c) Use of estimates The preparation of the accompanying unaudited consolidated financial statements in conformity with GAAP requires management to make estimates, assumptions and judgments that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting periods. Certain accounting estimates of the Company require a higher degree of judgment than others in their application. These include valuation of goodwill, provision for credit losses, impairment of long-lived assets, impairment of equity investee, valuation of convertible bonds and the valuation allowance for deferred tax assets. Management bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results may differ from these estimates, and such differences may be material. (d) Revenue recognition The Company complies with ASC 606, Revenue from Contracts with Customers. Revenue from contracts with customers is measured based on the consideration specified in a contract with a customer in exchange for transferring goods or services to a customer net of sales and service tax, returns, rebates and discounts. The Company recognizes revenue when (or as) it transfers control over a product or service to its customer. An asset is transferred when (or as) the customer obtains control of the asset. Depending on the substance of the contract, revenue is recognized when the performance obligation is satisfied, which may be at a point in time or over time. Contract assets represent the Company’s right to consideration for performance obligations that have been fulfilled but for which the customer has not been billed as of the balance sheet date. SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 0.5in">2</td> <td>Summary of significant accounting policies (continued)</td></tr> </table> Remittance services revenue Revenue from contracts with customers on service charges and gain/loss on foreign exchange arising from remittance activities are recognized upon the processing and execution of the international money transfer transactions. Remittance services are further divided into Fiat Currency Prefunded Remittance Service and XRP Prefunded Remittance Service. Management has considered these two services to be two product lines. The customers of the remittance services are financial institutions (referred to as “Remittance Partners”). Remittance Partners who use the fiat currency prefunding option for their remittance business with the Company are referred to as Fiat Currency Prefunded Remittance Partners, whereas customers who choose the XRP Prefunding mode are referred to as XRP Prefunded Remittance Partners. Fiat Currency Prefunded Remittance Service The Company earns revenue by charging their customers a Fiat Currency Prefunded Remittance Fee when they use the Company’s platform to transfer money to a beneficiary in another country. These Fiat Currency Prefunded Remittance Fees are fixed and specific for every country’s currency and are charged at the point-in-time of executing this performance obligation. Prior to delivering cash to the customer’s beneficiary, the customer must directly provide the Company with prefunding (i.e., the cash to be remitted to the beneficiary). This is the traditional prefunding process, which the Company describes as Fiat Currency Prefunded Remittance Service. XRP Prefunded Remittance Service Unlike the Fiat Currency Prefunded Remittance Service, the customer obtains prefunding through Ripple Solution offered by Ripple Lab Inc. (see Note 8) with the XRP Prefunded Remittance Service. Ripple supplies the customer with the XRP equivalent of the requested prefunding. The Company subsequently liquidates this XRP on Ripple’s behalf, and the fiat currency obtained as a result of the liquidation process is transferred to the customer’s beneficiary. Customers who prefund their remittance service with XRP must enter into an agreement with Ripple and undergo stringent credit checks in order to get XRP prefunding and use Ripple’s platform. The Company charges their customers an XRP Prefunded Remittance Service Fee when the money is transferred to the customer’s beneficiary. For both the XRP Prefunded and Fiat Currency Prefunded Remittance Services, the Company has no obligations to the customer in terms of guarantees, warranties or other similar obligations. There are also no significant payment terms involved as the Company obtains their fees shortly after charging their customers. Sales Walletku Modern Channel Revenue from the sale of goods is recognized at the point in time when the Company satisfies their performance obligation, which is upon delivery of the goods to the customer. The credit terms are typically 3-7 days. Sales of airtime Revenue from airtime sold is recognized when the relevant international airtime transfer or reload request is processed and executed. Other services Revenue from contracts with customers on other services is recognized as and when services are rendered. SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 0.5in">2</td> <td>Summary of significant accounting policies (continued)</td></tr> </table> (e) Segments As the chief operating decision-maker (“CODM”) of the Company, the Chief Executive Officer reviews the financial results when making decisions about allocating resources and assessing the performance of the Company. TNG (Asia) Limited (“TNGA”), the Tranglo Sdn BHD and related subsidiaries (“Tranglo”), GEA Limited and GEA Pte Ltd. (“GEA”) and PT Walletku Indompet Indonesia (“Walletku”) are all considered operating segments. These have been aggregated into two reportable segments, which are remittance services and sales of airtime, as described in Note 6. Other services are not assigned to a specific reportable segment as their results of operations are immaterial. The remittance segment is operated through TNGA, GEA and Tranglo. TNGA and GEA are in the retail remittance business in Hong Kong, which is in the upstream segment of the remittance business, whereas Tranglo operates the remittance hub covering Southeast Asia and globally, and is thus in the downstream segment of the remittance business. Management operates, monitors and evaluates the whole remittance business through these three subsidiaries so as to generate the maximum synergy and create maximum value for the Company. The Company operates the airtime segment via their international airtime transfer business through Tranglo and their retail airtime trading business locally in Indonesian through WalletKu. As with the remittance segment, management believes maximum synergy and business value can best be achieved by aggregating and managing the airtime business through these two subsidiaries. (f) Share-based compensation The Company accounts for share-based payments in accordance with ASC Topic 718 “Compensation – Stock Compensation” (“ASC 718”), under which the fair value of awards issued to employees is expensed over the period in which the awards vest. The Company had an incentive plan approved and adopted on September 13, 2018, namely the 2018 Equity Incentive Plan. Under the 2018 Equity Incentive Plan, a total of <span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_c20180913__20180913__us-gaap--PlanNameAxis__custom--TwoThousandEighteenEquityIncentivePlanMember__dei--LegalEntityAxis__custom--SeamlessGroupIncMember_z1TZfSgEpNsk" title="Grants in period">2,591,543 restricted stock units (“RSUs”) and <span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20180913__20180913__us-gaap--PlanNameAxis__custom--TwoThousandEighteenEquityIncentivePlanMember__dei--LegalEntityAxis__custom--SeamlessGroupIncMember_z6oVMaUzaDy6" title="Grants in period">978,397 options with an exercise price of $<span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iI_pid_c20180913__us-gaap--PlanNameAxis__custom--TwoThousandEighteenEquityIncentivePlanMember__dei--LegalEntityAxis__custom--SeamlessGroupIncMember_zHVnnkrrVhD1" title="Weighted average exercise price">12.87 had been awarded to certain directors and employees. All RSUs and options granted under the 2018 Incentive Plan had not been vested. The 2018 Incentive Plan was later terminated on July 29, 2022 and replaced by the new 2022 Incentive Plan. All previous awarded RSUs and options under the 2018 Incentive Plan were voided. Under the 2022 Incentive Plan, a total of <span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOther_c20220729__20220729__us-gaap--PlanNameAxis__custom--TwoThousandEighteenEquityIncentivePlanMember__dei--LegalEntityAxis__custom--SeamlessGroupIncMember_zG4TBqAkL9Fb" title="Grants in period">5,803,000 shares are reserved and granted to employees of the Company. All shares granted under the 2022 Incentive Plan will be vested upon (i) the completion of an IPO or (ii) the completion of a de SPAC merger. The Incentive shares will then be vested under a trust. The trustee will distribute the vested shares to the staff based on a schedule of (i) one third immediately upon the vesting of Incentive shares at the time of completion of IPO or de SPAC, (ii) one third on the first anniversary date thereafter, (iii) one third on the second anniversary date thereafter. The fair value of the awards granted on July 29, 2022 is $32,790,450, after accounting for the forfeiture of 430,000 shares as of June 30, 2024. This also represents the unrecognized compensation, as the performance condition of the completion of an IPO or de-SPAC is not within the Company’s control. SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 0.5in">2</td> <td>Summary of significant accounting policies (continued)</td></tr> </table> (g) Prefunding to remittances partner Prefunding to remittance partner represents deposits made with such a partner for remittance services to be rendered by the partner in the future. The prepayments are utilized when a remittance order is executed by the partner and the resulting amount of the order is deducted from the balance with the partner. We allow our remittance partners to prefund their balance through cryptocurrencies. These cryptocurrencies are mainly XRP. Ripple provides the XRP upon request to the Company and our remittance partners. Under applicable accounting standards, we are an agent when facilitating cryptocurrency transactions on behalf of our customers. These cryptocurrencies are held under a bailment arrangement in an account in the Company’s name on behalf of our business partner but they are not Seamless’ assets and therefore, are not reflected as cryptocurrency assets on our consolidated balance sheets . Although the Company does not control the XRP in the bailment account, we are responsible for safeguarding the XRP in the bailment account. Independent Reserve SG Pte Ltd (“Independent Reserve”), Philippine Digital Asset Exchange (“Pdax”), Betur, Inc. (“Coins.ph”) and Bitstamp Global Limited (“Bitstamp”) (collectively, the “Cryptocurrency Exchanges”) are centralized crypto exchanges which keep the cryptographic keys for each respective XRP wallet and provide the Company with its respective API access keys. The Company is the only party that holds the API access keys that grant it direct access to its XRP wallet maintained on the respective Cryptocurrency Exchange. The Cryptocurrency Exchanges maintain records of all assets deposited by its users and send statements to the Company. The Company reconciles its internal ODL transaction records to the statements received from the Cryptocurrency Exchanges to ensure that these are accurate. The Company has an obligation to protect the API access keys from being abused or stolen. The Company is responsible for any damages caused by loss or theft. Due to the unique risks associated with cryptocurrencies, including technological, legal, and regulatory risks, in accordance with Staff Accounting Bulletin No. 121 (“SAB 121”), we recognize a crypto asset safeguarding liability to reflect our obligation to safeguard the crypto assets held in the bailment account, which is recorded in Accounts payable, accruals and other payables on our consolidated balance sheet. We also recognize a corresponding safeguarding asset which is recorded in Prepayments, receivables and other assets on our consolidated balance sheet. The crypto asset safeguarding liability and corresponding safeguarding asset are measured and recorded at fair value on a recurring basis using prices available in the market we determine to be the principal market at the balance sheet date. The corresponding safeguarding asset may be adjusted for loss events, as applicable. As of June 30, 2024, the Company has not incurred any safeguarding loss events, and therefore, the crypto asset safeguarding liability and corresponding safeguarding asset were recorded at the same value. Safeguarding assets as of June 30, 2024 and December 31, 2023 are $1,942,244 and $1,983,116 respectively. Safeguarding liabilities as of June 30, 2024 and December 31, 2023 are $1,942,244 and $1,983,116 respectively. (h) Earnings per share Basic earnings per share is calculated by dividing the net income or loss by the weighted average number of common shares outstanding for the period, without consideration of potentially dilutive securities. Diluted net earnings per share is calculated by dividing the net income or loss by the weighted average number of common shares and potentially dilutive securities outstanding for the period. If there is a loss, potentially dilutive securities are not considered, as they would be anti-dilutive. SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

(a) Basis of presentation and principles of consolidation The unaudited condensed consolidated financial statements reflect all normal and recurring adjustments that are, in the opinion of management, necessary to present a fair statement of the Company’s financial position as of June 30, 2024 and the results of operations for the Six months ended June 30, 2024 and 2023. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary in order to make the consolidated financial statements not misleading have been included. The unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) and accordingly do not include all of the disclosures normally made in the Company’s annual financial statements. Accordingly, these unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto for the fiscal year ended December 31, 2023.

(b) Going concern The accompanying unaudited consolidated financial statements have been prepared using the going concern basis of accounting, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As of June 30, 2024, the Company had cash balances of $48.6 million, a working capital deficit of $76 million and net capital deficit $42.5 million. For the Six months period ended June 30, 2024, the Company had a net loss of $6.2 million and net cash used in operating activities of $2.1 million. Net cash used in investing activities was $0.2 million. Net cash generated from financing activities was $0.2 million, resulting principally from proceeds of borrowings. While the Company believes that it will be able to continue to grow the Company’s revenue base and control expenditures, there is no assurance that it will be able to achieve these goals. As a result, the Company continually monitors its capital structure and operating plans and evaluates various potential funding alternatives that may be needed to finance the Company’s business development activities, general and administrative expenses and growth strategy.

48600000

76000000 42500000

-6200000

-2100000

-200000

200000

(c) Use of estimates The preparation of the accompanying unaudited consolidated financial statements in conformity with GAAP requires management to make estimates, assumptions and judgments that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting periods. Certain accounting estimates of the Company require a higher degree of judgment than others in their application. These include valuation of goodwill, provision for credit losses, impairment of long-lived assets, impairment of equity investee, valuation of convertible bonds and the valuation allowance for deferred tax assets. Management bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results may differ from these estimates, and such differences may be material.

(d) Revenue recognition The Company complies with ASC 606, Revenue from Contracts with Customers. Revenue from contracts with customers is measured based on the consideration specified in a contract with a customer in exchange for transferring goods or services to a customer net of sales and service tax, returns, rebates and discounts. The Company recognizes revenue when (or as) it transfers control over a product or service to its customer. An asset is transferred when (or as) the customer obtains control of the asset. Depending on the substance of the contract, revenue is recognized when the performance obligation is satisfied, which may be at a point in time or over time. Contract assets represent the Company’s right to consideration for performance obligations that have been fulfilled but for which the customer has not been billed as of the balance sheet date. SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 0.5in">2</td> <td>Summary of significant accounting policies (continued)</td></tr> </table> Remittance services revenue Revenue from contracts with customers on service charges and gain/loss on foreign exchange arising from remittance activities are recognized upon the processing and execution of the international money transfer transactions. Remittance services are further divided into Fiat Currency Prefunded Remittance Service and XRP Prefunded Remittance Service. Management has considered these two services to be two product lines. The customers of the remittance services are financial institutions (referred to as “Remittance Partners”). Remittance Partners who use the fiat currency prefunding option for their remittance business with the Company are referred to as Fiat Currency Prefunded Remittance Partners, whereas customers who choose the XRP Prefunding mode are referred to as XRP Prefunded Remittance Partners. Fiat Currency Prefunded Remittance Service The Company earns revenue by charging their customers a Fiat Currency Prefunded Remittance Fee when they use the Company’s platform to transfer money to a beneficiary in another country. These Fiat Currency Prefunded Remittance Fees are fixed and specific for every country’s currency and are charged at the point-in-time of executing this performance obligation. Prior to delivering cash to the customer’s beneficiary, the customer must directly provide the Company with prefunding (i.e., the cash to be remitted to the beneficiary). This is the traditional prefunding process, which the Company describes as Fiat Currency Prefunded Remittance Service. XRP Prefunded Remittance Service Unlike the Fiat Currency Prefunded Remittance Service, the customer obtains prefunding through Ripple Solution offered by Ripple Lab Inc. (see Note 8) with the XRP Prefunded Remittance Service. Ripple supplies the customer with the XRP equivalent of the requested prefunding. The Company subsequently liquidates this XRP on Ripple’s behalf, and the fiat currency obtained as a result of the liquidation process is transferred to the customer’s beneficiary. Customers who prefund their remittance service with XRP must enter into an agreement with Ripple and undergo stringent credit checks in order to get XRP prefunding and use Ripple’s platform. The Company charges their customers an XRP Prefunded Remittance Service Fee when the money is transferred to the customer’s beneficiary. For both the XRP Prefunded and Fiat Currency Prefunded Remittance Services, the Company has no obligations to the customer in terms of guarantees, warranties or other similar obligations. There are also no significant payment terms involved as the Company obtains their fees shortly after charging their customers. Sales Walletku Modern Channel Revenue from the sale of goods is recognized at the point in time when the Company satisfies their performance obligation, which is upon delivery of the goods to the customer. The credit terms are typically 3-7 days. Sales of airtime Revenue from airtime sold is recognized when the relevant international airtime transfer or reload request is processed and executed. Other services Revenue from contracts with customers on other services is recognized as and when services are rendered. SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 0.5in">2</td> <td>Summary of significant accounting policies (continued)</td></tr> </table>

(e) Segments As the chief operating decision-maker (“CODM”) of the Company, the Chief Executive Officer reviews the financial results when making decisions about allocating resources and assessing the performance of the Company. TNG (Asia) Limited (“TNGA”), the Tranglo Sdn BHD and related subsidiaries (“Tranglo”), GEA Limited and GEA Pte Ltd. (“GEA”) and PT Walletku Indompet Indonesia (“Walletku”) are all considered operating segments. These have been aggregated into two reportable segments, which are remittance services and sales of airtime, as described in Note 6. Other services are not assigned to a specific reportable segment as their results of operations are immaterial. The remittance segment is operated through TNGA, GEA and Tranglo. TNGA and GEA are in the retail remittance business in Hong Kong, which is in the upstream segment of the remittance business, whereas Tranglo operates the remittance hub covering Southeast Asia and globally, and is thus in the downstream segment of the remittance business. Management operates, monitors and evaluates the whole remittance business through these three subsidiaries so as to generate the maximum synergy and create maximum value for the Company. The Company operates the airtime segment via their international airtime transfer business through Tranglo and their retail airtime trading business locally in Indonesian through WalletKu. As with the remittance segment, management believes maximum synergy and business value can best be achieved by aggregating and managing the airtime business through these two subsidiaries.

(f) Share-based compensation The Company accounts for share-based payments in accordance with ASC Topic 718 “Compensation – Stock Compensation” (“ASC 718”), under which the fair value of awards issued to employees is expensed over the period in which the awards vest. The Company had an incentive plan approved and adopted on September 13, 2018, namely the 2018 Equity Incentive Plan. Under the 2018 Equity Incentive Plan, a total of <span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_c20180913__20180913__us-gaap--PlanNameAxis__custom--TwoThousandEighteenEquityIncentivePlanMember__dei--LegalEntityAxis__custom--SeamlessGroupIncMember_z1TZfSgEpNsk" title="Grants in period">2,591,543 restricted stock units (“RSUs”) and <span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20180913__20180913__us-gaap--PlanNameAxis__custom--TwoThousandEighteenEquityIncentivePlanMember__dei--LegalEntityAxis__custom--SeamlessGroupIncMember_z6oVMaUzaDy6" title="Grants in period">978,397 options with an exercise price of $<span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iI_pid_c20180913__us-gaap--PlanNameAxis__custom--TwoThousandEighteenEquityIncentivePlanMember__dei--LegalEntityAxis__custom--SeamlessGroupIncMember_zHVnnkrrVhD1" title="Weighted average exercise price">12.87 had been awarded to certain directors and employees. All RSUs and options granted under the 2018 Incentive Plan had not been vested. The 2018 Incentive Plan was later terminated on July 29, 2022 and replaced by the new 2022 Incentive Plan. All previous awarded RSUs and options under the 2018 Incentive Plan were voided. Under the 2022 Incentive Plan, a total of <span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOther_c20220729__20220729__us-gaap--PlanNameAxis__custom--TwoThousandEighteenEquityIncentivePlanMember__dei--LegalEntityAxis__custom--SeamlessGroupIncMember_zG4TBqAkL9Fb" title="Grants in period">5,803,000 shares are reserved and granted to employees of the Company. All shares granted under the 2022 Incentive Plan will be vested upon (i) the completion of an IPO or (ii) the completion of a de SPAC merger. The Incentive shares will then be vested under a trust. The trustee will distribute the vested shares to the staff based on a schedule of (i) one third immediately upon the vesting of Incentive shares at the time of completion of IPO or de SPAC, (ii) one third on the first anniversary date thereafter, (iii) one third on the second anniversary date thereafter. The fair value of the awards granted on July 29, 2022 is $32,790,450, after accounting for the forfeiture of 430,000 shares as of June 30, 2024. This also represents the unrecognized compensation, as the performance condition of the completion of an IPO or de-SPAC is not within the Company’s control. SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 0.5in">2</td> <td>Summary of significant accounting policies (continued)</td></tr> </table>

2591543

978397

12.87

5803000

32790450

430000

(g) Prefunding to remittances partner Prefunding to remittance partner represents deposits made with such a partner for remittance services to be rendered by the partner in the future. The prepayments are utilized when a remittance order is executed by the partner and the resulting amount of the order is deducted from the balance with the partner. We allow our remittance partners to prefund their balance through cryptocurrencies. These cryptocurrencies are mainly XRP. Ripple provides the XRP upon request to the Company and our remittance partners. Under applicable accounting standards, we are an agent when facilitating cryptocurrency transactions on behalf of our customers. These cryptocurrencies are held under a bailment arrangement in an account in the Company’s name on behalf of our business partner but they are not Seamless’ assets and therefore, are not reflected as cryptocurrency assets on our consolidated balance sheets . Although the Company does not control the XRP in the bailment account, we are responsible for safeguarding the XRP in the bailment account. Independent Reserve SG Pte Ltd (“Independent Reserve”), Philippine Digital Asset Exchange (“Pdax”), Betur, Inc. (“Coins.ph”) and Bitstamp Global Limited (“Bitstamp”) (collectively, the “Cryptocurrency Exchanges”) are centralized crypto exchanges which keep the cryptographic keys for each respective XRP wallet and provide the Company with its respective API access keys. The Company is the only party that holds the API access keys that grant it direct access to its XRP wallet maintained on the respective Cryptocurrency Exchange. The Cryptocurrency Exchanges maintain records of all assets deposited by its users and send statements to the Company. The Company reconciles its internal ODL transaction records to the statements received from the Cryptocurrency Exchanges to ensure that these are accurate. The Company has an obligation to protect the API access keys from being abused or stolen. The Company is responsible for any damages caused by loss or theft. Due to the unique risks associated with cryptocurrencies, including technological, legal, and regulatory risks, in accordance with Staff Accounting Bulletin No. 121 (“SAB 121”), we recognize a crypto asset safeguarding liability to reflect our obligation to safeguard the crypto assets held in the bailment account, which is recorded in Accounts payable, accruals and other payables on our consolidated balance sheet. We also recognize a corresponding safeguarding asset which is recorded in Prepayments, receivables and other assets on our consolidated balance sheet. The crypto asset safeguarding liability and corresponding safeguarding asset are measured and recorded at fair value on a recurring basis using prices available in the market we determine to be the principal market at the balance sheet date. The corresponding safeguarding asset may be adjusted for loss events, as applicable. As of June 30, 2024, the Company has not incurred any safeguarding loss events, and therefore, the crypto asset safeguarding liability and corresponding safeguarding asset were recorded at the same value. Safeguarding assets as of June 30, 2024 and December 31, 2023 are $1,942,244 and $1,983,116 respectively. Safeguarding liabilities as of June 30, 2024 and December 31, 2023 are $1,942,244 and $1,983,116 respectively. 1942244 1983116 1942244 1983116

(h) Earnings per share Basic earnings per share is calculated by dividing the net income or loss by the weighted average number of common shares outstanding for the period, without consideration of potentially dilutive securities. Diluted net earnings per share is calculated by dividing the net income or loss by the weighted average number of common shares and potentially dilutive securities outstanding for the period. If there is a loss, potentially dilutive securities are not considered, as they would be anti-dilutive.

3 Goodwill GOODWILL SCHEDULE OF GOODWILL <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Goodwill</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 50%">Balance as of January 1, 2023 and December 31, 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_985_eus-gaap--Goodwill_iS_pp0p0_c20240101__20240630_zTInB5L38Xg" style="width: 21%; text-align: right" title="Goodwill, beginning balance">27,001,383</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--GoodwillAcquiredDuringPeriod_zhSPJ52yFlrj" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Goodwill from acquisition</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Goodwill, beginning balance"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Goodwill impairment</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--GoodwillImpairmentLoss_iN_di_c20240101__20240630_zCF4PYB7bJb8" style="border-bottom: Black 1pt solid; text-align: right" title="Goodwill, beginning balance">(1,657</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Balance as of June 30, 2024</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--Goodwill_iE_pp0p0_c20240101__20240630_z0213dDbgeW" style="border-bottom: Black 1pt solid; text-align: right" title="Goodwill, beginning balance">26,999,726</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table>

SCHEDULE OF GOODWILL <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Goodwill</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 50%">Balance as of January 1, 2023 and December 31, 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_985_eus-gaap--Goodwill_iS_pp0p0_c20240101__20240630_zTInB5L38Xg" style="width: 21%; text-align: right" title="Goodwill, beginning balance">27,001,383</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--GoodwillAcquiredDuringPeriod_zhSPJ52yFlrj" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Goodwill from acquisition</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Goodwill, beginning balance"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Goodwill impairment</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--GoodwillImpairmentLoss_iN_di_c20240101__20240630_zCF4PYB7bJb8" style="border-bottom: Black 1pt solid; text-align: right" title="Goodwill, beginning balance">(1,657</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Balance as of June 30, 2024</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--Goodwill_iE_pp0p0_c20240101__20240630_z0213dDbgeW" style="border-bottom: Black 1pt solid; text-align: right" title="Goodwill, beginning balance">26,999,726</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table>

27001383

1657

26999726

4 Borrowings BORROWINGS SCHEDULE OF BORROWINGS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20240630_zjLbgwa9Epil" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20231231_zc1b2SaGkg23" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_40A_eus-gaap--ShortTermBorrowings_iI_zYO8kJ40i8Ca" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 50%; text-align: left; padding-bottom: 2.5pt">Short-term borrowings (i)</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; width: 21%; text-align: right">8,773,768</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; width: 21%; text-align: right">8,772,710</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--LongTermDebt_iI_zxH9gDRo3L0j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Long-term borrowings (ii)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,958,190</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,538,357</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--LongTermDebtCurrent_iNI_di_zH5i2E32tx4i" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: current maturities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(9,252,038</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(9,031,383</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--OtherLongTermDebtNoncurrent_iI_zFlzrXasWiwj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Non-current maturities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">2,706,152</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">2,506,974</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">(i)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">As of June 30, 2024 and December 31, 2023, the Company had several unsecured short-term loans from independent third parties which were repayable within one year and charged interest rates ranging from <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90C_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20240630__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember__srt--RangeAxis__srt--MinimumMember__srt--TitleOfIndividualAxis__custom--ThirdPartyMember_zjVWFhc6zKRk" title="Interest rate">15.0% to <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90C_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20240630__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember__srt--RangeAxis__srt--MaximumMember__srt--TitleOfIndividualAxis__custom--ThirdPartyMember_zNOe4iA6owJi" title="Interest rate">24.0% and <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_900_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20231231__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember__srt--RangeAxis__srt--MinimumMember__srt--TitleOfIndividualAxis__custom--ThirdPartyMember_zAMBktDJWQV9" title="Interest rate">15.0% to <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_907_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20231231__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember__srt--RangeAxis__srt--MaximumMember__srt--TitleOfIndividualAxis__custom--ThirdPartyMember_zyqzvtBMrN5f" title="Interest rate">24.0% per annum, respectively. As of June 30, 2024 and December 31, 2023, the weighted average interest rate of these borrowings was <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_eus-gaap--DebtWeightedAverageInterestRate_iI_pid_dp_uPure_c20240630__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember__srt--TitleOfIndividualAxis__custom--ThirdPartyMember_zoy7AYhx5fz8" title="Debt weighted average interest">22.6% and <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_903_eus-gaap--DebtWeightedAverageInterestRate_iI_pid_dp_uPure_c20231231__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember__srt--TitleOfIndividualAxis__custom--ThirdPartyMember_zXNHbDpuVGsg" title="Debt weighted average interest">22.6% per annum, respectively. The borrowings are denominated in Hong Kong Dollar (“HK$”) and United States Dollar (“US$”).</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">(ii)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">As of June 30, 2024 and December 31, 2023, the Company obtained several unsecured long-term loans for two to five years. Interest rates ranged from <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_906_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20240630__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--LongTermDebtMember__srt--RangeAxis__srt--MinimumMember__srt--TitleOfIndividualAxis__custom--ThirdPartyMember_zRj7r5laX6k1" title="Interest rate">12.0% to <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90B_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20240630__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--LongTermDebtMember__srt--RangeAxis__srt--MaximumMember__srt--TitleOfIndividualAxis__custom--ThirdPartyMember_zivYL8Kwb7Md" title="Interest rate">27.6%, and <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_901_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20231231__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--LongTermDebtMember__srt--RangeAxis__srt--MinimumMember__srt--TitleOfIndividualAxis__custom--ThirdPartyMember_zdLXvDY0v7i2" title="Interest rate">12.0% to <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90A_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20231231__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--LongTermDebtMember__srt--RangeAxis__srt--MaximumMember__srt--TitleOfIndividualAxis__custom--ThirdPartyMember_zwq3MVJtcnV8" title="Interest rate">24.0% per annum, respectively. As of June 30, 2024 and December 31, 2023, the weighted average interest rate of these borrowings was <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90C_eus-gaap--DebtWeightedAverageInterestRate_iI_pid_dp_uPure_c20240630__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember_zTnpn2IkK2pc" title="Debt weighted average interest">14.1% and <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90E_eus-gaap--DebtWeightedAverageInterestRate_iI_pid_dp_uPure_c20231231__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember_zredGt9SrVrj" title="Debt weighted average interest">13.1% per annum, respectively. The borrowings are denominated in HK$ and US$. As of June 30, 2024 and December 31, 2023, the Company obtained loans from three members of management of the Company.</td></tr></table> A loan of HK$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_905_eus-gaap--LoansAssumed1_pn5n6_uHKD_c20240101__20240630__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember_zjxdq31zEN5l" title="Loans">4.7 million (equivalent to US$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90D_eus-gaap--LoansAssumed1_pn5n6_c20240101__20240630__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember_zG7t2E4Qxc82" title="Loans">0.6 million) has been provided by Mr. Takis Wong, the Chief Operating Officer, at an interest rate of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_908_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20240630__srt--TitleOfIndividualAxis__custom--MrTakisWongMember_zdLv9und8S4k" title="Interest rate">12% per annum. Another loan of HK$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90E_eus-gaap--LoansAssumed1_pn5n6_uHKD_c20240101__20240630__srt--TitleOfIndividualAxis__custom--AlexanderKongMember_zEnWHij40Kf9" title="Loans">12.3 million (equivalent to US$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_eus-gaap--LoansAssumed1_pn5n6_c20240101__20240630__srt--TitleOfIndividualAxis__custom--AlexanderKongMember_zgdmFwpDD1X5" title="Loans">1.6 million) has been provided by Mr. Alexander Kong, the Chairman, at an interest rate of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_900_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20240630__srt--TitleOfIndividualAxis__custom--AlexanderKongMember_zQbAEaf7tljk" title="Interest rate">12% per annum. Another loan of HK$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_901_eus-gaap--LoansAssumed1_pn5n6_uHKD_c20240101__20240630__srt--TitleOfIndividualAxis__custom--RonnieHuiMember_z6QZjPvRaxNi" title="Loans">3.6 million (equivalent to US$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90A_eus-gaap--LoansAssumed1_pn5n6_c20240101__20240630__srt--TitleOfIndividualAxis__custom--RonnieHuiMember_zoRdx3CRNcxg" title="Loans">0.5 million) has been provided by Dr. Ronnie Hui, the Chief Executive Officer, at an interest rate of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90B_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20240630__srt--TitleOfIndividualAxis__custom--RonnieHuiMember_zTKvzqPiR0Xf" title="Interest rate">12% per annum. SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 0.5in">4</td> <td>Borrowings (continued)</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">(iv)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">As of June 30, 2024 and December 31, 2023, the Company had a loan of US$<span id="xdx_90C_eus-gaap--LoansAssumed1_pn4n6_c20240101__20240630__srt--TitleOfIndividualAxis__custom--MrTakisWongMember__dei--LegalEntityAxis__custom--NobleTackInternationalLimitedMember_zx5jDQPEKwvb" title="Loans"><span id="xdx_902_eus-gaap--LoansAssumed1_pn4n6_c20230101__20231231__srt--TitleOfIndividualAxis__custom--MrTakisWongMember__dei--LegalEntityAxis__custom--NobleTackInternationalLimitedMember_zDZCw9ZqhJf" title="Loans">2.05 million from Noble Tack International Limited, one of the shareholders of its subsidiary, Dynamic Indonesia Holdings Limited. The loan is unsecured, interest-free and repayable on demand.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">(v)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">As of June 30, 2024 and December 31, 2023, the Company had obtained a line of credit of US$5 million from Ripple Labs, Inc., one of the related parties of their subsidiary, Tranglo Sdn. Bhd. The loan is unsecured and has an interest rate of <span id="xdx_90D_eus-gaap--LineOfCreditFacilityInterestRateDuringPeriod_pid_dp_uPure_c20240101__20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RippleLabsIncMember_zCoQxIn94V5h" title="Line of credit, interest rate">12% per annum. Amount drawn down as of June 30, 2024 and December 31, 2023 was US$5 million and US$5 million respectively. The line of credit facility has a maturity of two years from the effective date of September 12, 2022. Ripple has the option of calling any drawdown on or after the first anniversary.</td></tr></table> As of June 30, 2024, loans of US$9.3 million were guaranteed by Mr. Alexander Kong (2023: US$8.7 million). Interest expense during the periods ended June 30, 2024 and 2023 was US$3,826,722 and US$3,154,876, respectively. As of June 30, 2024, the borrowings will be due according to the following schedule: SCHEDULE OF LONG TERM BORROWINGS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20240630_zmwDf5IWyGb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Principal amounts</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>For the period ending June 30,</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear_iI_maLTDzJJQ_zJn0g09GWWs9" style="vertical-align: bottom; background-color: White"> <td style="width: 50%; text-align: left">Within one year</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">9,252,038</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_maLTDzJJQ_zb9SrrOfKpB8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Within two years</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">245,997</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_iI_maLTDzJJQ_zR2y32b94XK4" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Within three years</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,460,155</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--LongTermDebt_iTI_mtLTDzJJQ_zfdkIVJ52RCb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">11,958,190</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The carrying values of short-term borrowings approximate their fair values due to their short-term maturities. The Company’s long-term borrowings are subject to both fixed and floating interest rates. The carrying values of each type of these borrowings approximate their fair values as the interest rates reflect the rates offered to other entities with similar characteristics to Seamless.

SCHEDULE OF BORROWINGS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20240630_zjLbgwa9Epil" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20231231_zc1b2SaGkg23" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_40A_eus-gaap--ShortTermBorrowings_iI_zYO8kJ40i8Ca" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 50%; text-align: left; padding-bottom: 2.5pt">Short-term borrowings (i)</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; width: 21%; text-align: right">8,773,768</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; width: 21%; text-align: right">8,772,710</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--LongTermDebt_iI_zxH9gDRo3L0j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Long-term borrowings (ii)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,958,190</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,538,357</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--LongTermDebtCurrent_iNI_di_zH5i2E32tx4i" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: current maturities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(9,252,038</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(9,031,383</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--OtherLongTermDebtNoncurrent_iI_zFlzrXasWiwj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Non-current maturities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">2,706,152</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">2,506,974</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">(i)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">As of June 30, 2024 and December 31, 2023, the Company had several unsecured short-term loans from independent third parties which were repayable within one year and charged interest rates ranging from <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90C_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20240630__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember__srt--RangeAxis__srt--MinimumMember__srt--TitleOfIndividualAxis__custom--ThirdPartyMember_zjVWFhc6zKRk" title="Interest rate">15.0% to <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90C_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20240630__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember__srt--RangeAxis__srt--MaximumMember__srt--TitleOfIndividualAxis__custom--ThirdPartyMember_zNOe4iA6owJi" title="Interest rate">24.0% and <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_900_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20231231__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember__srt--RangeAxis__srt--MinimumMember__srt--TitleOfIndividualAxis__custom--ThirdPartyMember_zAMBktDJWQV9" title="Interest rate">15.0% to <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_907_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20231231__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember__srt--RangeAxis__srt--MaximumMember__srt--TitleOfIndividualAxis__custom--ThirdPartyMember_zyqzvtBMrN5f" title="Interest rate">24.0% per annum, respectively. As of June 30, 2024 and December 31, 2023, the weighted average interest rate of these borrowings was <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_eus-gaap--DebtWeightedAverageInterestRate_iI_pid_dp_uPure_c20240630__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember__srt--TitleOfIndividualAxis__custom--ThirdPartyMember_zoy7AYhx5fz8" title="Debt weighted average interest">22.6% and <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_903_eus-gaap--DebtWeightedAverageInterestRate_iI_pid_dp_uPure_c20231231__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember__srt--TitleOfIndividualAxis__custom--ThirdPartyMember_zXNHbDpuVGsg" title="Debt weighted average interest">22.6% per annum, respectively. The borrowings are denominated in Hong Kong Dollar (“HK$”) and United States Dollar (“US$”).</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">(ii)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">As of June 30, 2024 and December 31, 2023, the Company obtained several unsecured long-term loans for two to five years. Interest rates ranged from <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_906_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20240630__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--LongTermDebtMember__srt--RangeAxis__srt--MinimumMember__srt--TitleOfIndividualAxis__custom--ThirdPartyMember_zRj7r5laX6k1" title="Interest rate">12.0% to <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90B_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20240630__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--LongTermDebtMember__srt--RangeAxis__srt--MaximumMember__srt--TitleOfIndividualAxis__custom--ThirdPartyMember_zivYL8Kwb7Md" title="Interest rate">27.6%, and <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_901_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20231231__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--LongTermDebtMember__srt--RangeAxis__srt--MinimumMember__srt--TitleOfIndividualAxis__custom--ThirdPartyMember_zdLXvDY0v7i2" title="Interest rate">12.0% to <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90A_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20231231__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--LongTermDebtMember__srt--RangeAxis__srt--MaximumMember__srt--TitleOfIndividualAxis__custom--ThirdPartyMember_zwq3MVJtcnV8" title="Interest rate">24.0% per annum, respectively. As of June 30, 2024 and December 31, 2023, the weighted average interest rate of these borrowings was <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90C_eus-gaap--DebtWeightedAverageInterestRate_iI_pid_dp_uPure_c20240630__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember_zTnpn2IkK2pc" title="Debt weighted average interest">14.1% and <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJPUlJPV0lOR1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90E_eus-gaap--DebtWeightedAverageInterestRate_iI_pid_dp_uPure_c20231231__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember_zredGt9SrVrj" title="Debt weighted average interest">13.1% per annum, respectively. The borrowings are denominated in HK$ and US$. As of June 30, 2024 and December 31, 2023, the Company obtained loans from three members of management of the Company.</td></tr></table>

8773768

8772710

11958190

11538357

9252038

9031383

2706152

2506974

0.150

0.240

0.150

0.240

0.226

0.120

0.276

0.120

0.240

0.141

0.131

4700000

600000

0.12

12300000

1600000

0.12

3600000

500000

0.12

2050000.00

5000000

0.12

5000000

9300000

8700000

3826722

3154876

As of June 30, 2024, the borrowings will be due according to the following schedule: SCHEDULE OF LONG TERM BORROWINGS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20240630_zmwDf5IWyGb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Principal amounts</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>For the period ending June 30,</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear_iI_maLTDzJJQ_zJn0g09GWWs9" style="vertical-align: bottom; background-color: White"> <td style="width: 50%; text-align: left">Within one year</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">9,252,038</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_maLTDzJJQ_zb9SrrOfKpB8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Within two years</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">245,997</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_iI_maLTDzJJQ_zR2y32b94XK4" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Within three years</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,460,155</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--LongTermDebt_iTI_mtLTDzJJQ_zfdkIVJ52RCb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">11,958,190</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

9252038

245997

2460155

11958190

5 Receivable factoring RECEIVABLE FACTORING The receivables factoring facility represents an interest-bearing loan for an amount of US$327,822 (2023: US$423,483) based on terms and conditions set out in the facility agreement dated January 10, 2019 and further revised on April 22, 2021. The loan is secured, bears an effective interest rate of <span id="xdx_90E_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_pid_dp_uPure_c20240630__us-gaap--TypeOfArrangementAxis__custom--FacilityAgreementMember_zzOsGe3VkQW3" title="Effective interest rate">9.8% (2023: <span id="xdx_906_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_pid_dp_uPure_c20231231__us-gaap--TypeOfArrangementAxis__custom--FacilityAgreementMember_zmGHrJ24wQD6" title="Effective interest rate">10%) per annum calculated on a daily rest basis at the end of the reporting period. Principal and interest are to be repaid within 120 (2023: 120) days from the date of each invoice. The weighted average interest rate as of June 30, 2024 and December 31, 2023 was 9.8% and 10.0% per annum, respectively. Interest expense during the periods ended June 30, 2024 and 2023 was US$29,705 and US$33,541, respectively. SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

327822

423483

0.098

0.10

0.098

0.100

29705

33541

6 Segments SEGMENTS SCHEDULE OF SEGMENT REPORTING FOR REVENUE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 77%; margin-left: 0.75in"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20240101__20240630_zEdrzNOmsfJe" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20230101__20230630_zE7mxu6KRNrg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six months ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Revenue</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hus-gaap--StatementBusinessSegmentsAxis__custom--RemittanceServicesMember_zd9aBttumLMa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Remittance services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hus-gaap--StatementBusinessSegmentsAxis__custom--FiatRemittanceServiceMember_zRjxLJlwHdn6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 50%; text-align: left">Fiat remittance</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">12,284,197</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">12,988,449</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hus-gaap--StatementBusinessSegmentsAxis__custom--ODLRemittanceServiceMember_zeO221PWbcMl" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">ODL remittance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">558,381</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">562,796</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hus-gaap--StatementBusinessSegmentsAxis__custom--SalesOfAirtimeMember_zOTeSOrSDCT2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Sales of Airtime</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,179,092</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13,529,574</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hus-gaap--StatementBusinessSegmentsAxis__custom--OtherServicesMember_zaUMpJoYRLH3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Other services</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">89,117</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">84,600</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zxY5ca22CjY3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Revenue</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">24,110,787</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">27,165,419</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Cost of sales</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--CostOfGoodsAndServicesSold_iN_di_hus-gaap--StatementBusinessSegmentsAxis__custom--RemittanceServicesMember_zDnlEI9UDIS3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Remittance services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,531,947</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,807,690</td><td style="text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--CostOfGoodsAndServicesSold_iN_di_hus-gaap--StatementBusinessSegmentsAxis__custom--SalesOfAirtimeMember_zprnSlBfxSxj" style="vertical-align: bottom; background-color: White"> <td>Sales of Airtime</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(10,200,122</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(12,139,025</td><td style="text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--CostOfGoodsAndServicesSold_iN_di_hus-gaap--StatementBusinessSegmentsAxis__custom--OtherServicesMember_zHlk2LgMnK41" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Other services</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(174,183</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(148,430</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_408_eus-gaap--CostOfGoodsAndServicesSold_iN_di_zY2r9L2YnVve" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Cost of sales</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(15,906,252</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(18,095,145</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Gross Profit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--GrossProfit_hus-gaap--StatementBusinessSegmentsAxis__custom--RemittanceServicesMember_zhLcV3LkZXZ8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Remittance services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,310,631</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,743,555</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--GrossProfit_hus-gaap--StatementBusinessSegmentsAxis__custom--SalesOfAirtimeMember_z3pLLdFZIqA" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Sales of Airtime</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">978,970</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,390,549</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--GrossProfit_iN_di_hus-gaap--StatementBusinessSegmentsAxis__custom--OtherServicesMember_zunAWENrWMq3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Other services</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(85,066</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(63,830</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_408_eus-gaap--GrossProfit_zvtQODZJ2E8i" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Gross Profit</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">8,204,535</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">9,070,274</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

SCHEDULE OF SEGMENT REPORTING FOR REVENUE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 77%; margin-left: 0.75in"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20240101__20240630_zEdrzNOmsfJe" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20230101__20230630_zE7mxu6KRNrg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six months ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Revenue</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hus-gaap--StatementBusinessSegmentsAxis__custom--RemittanceServicesMember_zd9aBttumLMa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Remittance services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hus-gaap--StatementBusinessSegmentsAxis__custom--FiatRemittanceServiceMember_zRjxLJlwHdn6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 50%; text-align: left">Fiat remittance</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">12,284,197</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">12,988,449</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hus-gaap--StatementBusinessSegmentsAxis__custom--ODLRemittanceServiceMember_zeO221PWbcMl" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">ODL remittance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">558,381</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">562,796</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hus-gaap--StatementBusinessSegmentsAxis__custom--SalesOfAirtimeMember_zOTeSOrSDCT2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Sales of Airtime</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,179,092</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13,529,574</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hus-gaap--StatementBusinessSegmentsAxis__custom--OtherServicesMember_zaUMpJoYRLH3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Other services</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">89,117</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">84,600</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zxY5ca22CjY3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Revenue</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">24,110,787</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">27,165,419</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Cost of sales</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--CostOfGoodsAndServicesSold_iN_di_hus-gaap--StatementBusinessSegmentsAxis__custom--RemittanceServicesMember_zDnlEI9UDIS3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Remittance services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,531,947</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,807,690</td><td style="text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--CostOfGoodsAndServicesSold_iN_di_hus-gaap--StatementBusinessSegmentsAxis__custom--SalesOfAirtimeMember_zprnSlBfxSxj" style="vertical-align: bottom; background-color: White"> <td>Sales of Airtime</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(10,200,122</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(12,139,025</td><td style="text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--CostOfGoodsAndServicesSold_iN_di_hus-gaap--StatementBusinessSegmentsAxis__custom--OtherServicesMember_zHlk2LgMnK41" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Other services</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(174,183</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(148,430</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_408_eus-gaap--CostOfGoodsAndServicesSold_iN_di_zY2r9L2YnVve" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Cost of sales</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(15,906,252</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(18,095,145</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Gross Profit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--GrossProfit_hus-gaap--StatementBusinessSegmentsAxis__custom--RemittanceServicesMember_zhLcV3LkZXZ8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Remittance services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,310,631</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,743,555</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--GrossProfit_hus-gaap--StatementBusinessSegmentsAxis__custom--SalesOfAirtimeMember_z3pLLdFZIqA" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Sales of Airtime</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">978,970</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,390,549</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--GrossProfit_iN_di_hus-gaap--StatementBusinessSegmentsAxis__custom--OtherServicesMember_zunAWENrWMq3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Other services</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(85,066</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(63,830</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_408_eus-gaap--GrossProfit_zvtQODZJ2E8i" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Gross Profit</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">8,204,535</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">9,070,274</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

12284197

12988449

558381

562796

11179092

13529574

89117

84600

24110787

27165419

5531947

5807690

10200122

12139025

174183

148430

15906252

18095145

7310631

7743555

978970

1390549

85066

63830

8204535

9070274

7 Acquisition of Dynamic Indonesia Holdings Limited ACQUISITION OF DYNAMIC INDONESIA HOLDINGS LIMITED On June 2, 2022, Dynamic Indonesia Holdings Limited and its two shareholders, Dynamic Investment Holdings Limited and Noble Tack International Limited, entered into a Subscription Agreement (“Subscription”) whereby Dynamic Indonesia Holdings Limited will offer the shareholders to subscribe to <span id="xdx_907_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20220601__20220602__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DynamicIndonesiaHoldingsLtdMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheFiveMember_zwIApONIcL93" title="Issuance of shares">5,000 shares of the Company in five equal tranches. Only Dynamic Investment Holdings Limited subscribed to the first tranche, and upon completion of its purchase of <span id="xdx_90B_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20220601__20220602__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DynamicIndonesiaHoldingsLtdMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheOneMember_z1GVWK8begY4" title="Issuance of shares">1,000 shares on June 2, 2022 for $<span id="xdx_906_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20220601__20220602__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DynamicIndonesiaHoldingsLtdMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheOneMember_zHITqIR08LTh" title="Issuance of shares, value">200,000, Dynamic Investments Holdings Limited increased its ownership of Dynamic Indonesia Holdings Limited from <span id="xdx_900_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20220601__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DynamicIndonesiaHoldingsLtdMember__srt--RangeAxis__srt--MinimumMember_zAmSso9uput8" title="Ownership percentage">49% to approximately <span id="xdx_90E_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20220601__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DynamicIndonesiaHoldingsLtdMember__srt--RangeAxis__srt--MaximumMember_zh8jmo1svCK9" title="Ownership percentage">51%. As a subsidiary of the Company, Dynamic Indonesia Holdings Limited’s financial performance has been included in the Company’s interim condensed consolidated financial statements from the date of acquisition. The allocation of the purchase price as of the date of acquisition is summarized as follows: SCHEDULE OF PURCHASE PRICE OF ACQUISITION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 75%; margin-left: 0.75in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49B_20220602__us-gaap--BusinessAcquisitionAxis__custom--DynamicIndonesiaHoldingsLimitedMember_zi0F6QRq1Z68" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_405_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets_iNI_di_zmdSFPpb88jg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 50%; text-align: left">Net assets acquired (i)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">(1,590,634</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--Goodwill_iI_zLIfWEcbsqOe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Goodwill (Note 3)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,851,590</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--BusinessCombinationAcquisitionOfLessThan100PercentNoncontrollingInterestFairValue_iNI_di_zWoK2jPyKVmd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Non-controlling interests</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,931,441</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedLessNoncontrollingInterest_iI_zWho7yHDRVfa" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">2,329,515</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total purchase price is comprised of:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Cash consideration</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--BusinessCombinationConsiderationTransferred1_c20220601__20220602__us-gaap--BusinessAcquisitionAxis__custom--DynamicIndonesiaHoldingsLimitedMember_ztRF5oZFaGS3" style="text-align: right">200,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Fair value of previously held equity interests</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_ecustom--FairValueOfPreviouslyHeldEquityInterests_c20220601__20220602__us-gaap--BusinessAcquisitionAxis__custom--DynamicIndonesiaHoldingsLimitedMember_zqePpPLB9o1a" style="border-bottom: Black 1pt solid; text-align: right">2,129,515</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedLessNoncontrollingInterest_iI_znwhGi52qbK3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">2,329,515</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 0.5in">7</td> <td>Acquisition of Dynamic Indonesia Holdings Limited (Continued)</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">(i)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Goodwill arose on the acquisition from the expected synergies from combining our existing airtime operations with those of Dynamic Indonesia Holdings Limited.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">(ii)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">An independent valuation firm was hired by Noble Tack International Limited to value it shares in Dynamic Indonesia at approximately the date of the acquisition. The firm used market approach Price-to-Sales multiple-based methodology to determine the value.</td></tr></table> On June 2, 2022, in conjunction with the share purchase described above, the Company granted a put option to Noble Tack International Limited. The put option grants the holder the right to convert its equity interest in and loan to Dynamic Indonesia Holdings Limited into equity of the Company as defined in the agreement. The option is valid for two years. On October 3, 2022 only Dynamic Investment Holdings Limited subscribed to the second tranche, and upon completion of its purchase of <span id="xdx_90B_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20221002__20221003__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DynamicIndonesiaHoldingsLtdMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheOneMember_z8QQQJTDeEwc" title="Issuance of shares">1,000 shares for $<span id="xdx_901_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20221002__20221003__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DynamicIndonesiaHoldingsLtdMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheOneMember_z7H4UzCJNaB6" title="Issuance of shares, value">200,000, Dynamic Investments Holdings Limited increased its ownership of Dynamic Indonesia Holdings Limited from approximately <span id="xdx_90A_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20221003__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DynamicIndonesiaHoldingsLtdMember__srt--RangeAxis__srt--MinimumMember_zJ7QsNwpI804" title="Ownership percentage">51% to approximately <span id="xdx_907_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20221003__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DynamicIndonesiaHoldingsLtdMember__srt--RangeAxis__srt--MaximumMember_zK1hywhfjmmc" title="Ownership percentage">54%. On February 3, 2023 only Dynamic Investment Holdings Limited subscribed to the third tranche, and upon completion of its purchase of <span id="xdx_904_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20230202__20230203__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DynamicIndonesiaHoldingsLtdMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheTwoMember_zOatwWhb4uSh" title="Issuance of shares">1,000 shares for $<span id="xdx_900_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20230202__20230203__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DynamicIndonesiaHoldingsLtdMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheTwoMember_zrVhm80mY1Mj" title="Issuance of shares, value">200,000, Dynamic Investments Holdings Limited increased its ownership of Dynamic Indonesia Holdings Limited from approximately <span id="xdx_900_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20230203__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DynamicIndonesiaHoldingsLtdMember__srt--RangeAxis__srt--MinimumMember_zD7ACXz18qf8" title="Ownership percentage">54% to approximately <span id="xdx_903_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20230203__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DynamicIndonesiaHoldingsLtdMember__srt--RangeAxis__srt--MaximumMember_zb5fMvdqhpIk" title="Ownership percentage">56%. On June 5, 2023 only Dynamic Investment Holdings Limited subscribed to the fourth tranche, and upon completion of its purchase of <span id="xdx_900_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20230605__20230605__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DynamicIndonesiaHoldingsLtdMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheFourMember_zyyqabIluM9j" title="Issuance of shares">1,000 shares for $<span id="xdx_906_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20230605__20230605__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DynamicIndonesiaHoldingsLtdMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheFourMember_zx9wlXaqJab1" title="Issuance of shares, value">200,000, Dynamic Investments Holdings Limited increased its ownership of Dynamic Indonesia Holdings Limited from approximately <span id="xdx_909_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20230605__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DynamicIndonesiaHoldingsLtdMember__srt--RangeAxis__srt--MinimumMember_z0K67Yonxvif" title="Ownership percentage">56% to approximately <span id="xdx_90A_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20230605__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DynamicIndonesiaHoldingsLtdMember__srt--RangeAxis__srt--MaximumMember_zvhNfkdqkc4a" title="Ownership percentage">57%. On October 5, 2023 only Dynamic Investment Holdings Limited subscribed to the fifth tranche, and upon completion of its purchase of <span id="xdx_904_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20231004__20231005__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DynamicIndonesiaHoldingsLtdMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheFiveMember_zphyf5Y4Ibri" title="Issuance of shares">1,000 shares for $<span id="xdx_902_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20231004__20231005__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DynamicIndonesiaHoldingsLtdMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheFiveMember_zMMfCniQhsQd" title="Issuance of shares, value">200,000, Dynamic Investments Holdings Limited increased its ownership of Dynamic Indonesia Holdings Limited from approximately <span id="xdx_902_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20231005__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DynamicIndonesiaHoldingsLtdMember__srt--RangeAxis__srt--MinimumMember_zudbpJQT5NPi" title="Ownership percentage">57% to approximately <span id="xdx_908_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20231005__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DynamicIndonesiaHoldingsLtdMember__srt--RangeAxis__srt--MaximumMember_zNKuVe6tN5H3" title="Ownership percentage">59%.

5000

1000

200000

0.49

0.51

The allocation of the purchase price as of the date of acquisition is summarized as follows: SCHEDULE OF PURCHASE PRICE OF ACQUISITION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 75%; margin-left: 0.75in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49B_20220602__us-gaap--BusinessAcquisitionAxis__custom--DynamicIndonesiaHoldingsLimitedMember_zi0F6QRq1Z68" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_405_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets_iNI_di_zmdSFPpb88jg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 50%; text-align: left">Net assets acquired (i)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">(1,590,634</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--Goodwill_iI_zLIfWEcbsqOe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Goodwill (Note 3)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,851,590</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--BusinessCombinationAcquisitionOfLessThan100PercentNoncontrollingInterestFairValue_iNI_di_zWoK2jPyKVmd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Non-controlling interests</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,931,441</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedLessNoncontrollingInterest_iI_zWho7yHDRVfa" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">2,329,515</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total purchase price is comprised of:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Cash consideration</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--BusinessCombinationConsiderationTransferred1_c20220601__20220602__us-gaap--BusinessAcquisitionAxis__custom--DynamicIndonesiaHoldingsLimitedMember_ztRF5oZFaGS3" style="text-align: right">200,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Fair value of previously held equity interests</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_ecustom--FairValueOfPreviouslyHeldEquityInterests_c20220601__20220602__us-gaap--BusinessAcquisitionAxis__custom--DynamicIndonesiaHoldingsLimitedMember_zqePpPLB9o1a" style="border-bottom: Black 1pt solid; text-align: right">2,129,515</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedLessNoncontrollingInterest_iI_znwhGi52qbK3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">2,329,515</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

1590634

7851590

3931441

2329515

200000

2129515

2329515

1000

200000

0.51

0.54

1000

200000

0.54

0.56

1000

200000

0.56

0.57

1000

200000

0.57

0.59

8 Related party transactions RELATED PARTY TRANSACTIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(a)</td><td style="font: 10pt Times New Roman, Times, Serif">Related parties</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 89%; border-collapse: collapse; margin-left: 0.75in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">Name of related parties</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">Relationship with the Company</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">Dr. Ronnie Hui</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Chief Executive Officer of the Company</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">Mr. Takis Wong</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Chief Operating Officer of the Company</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">Mr. Alexander Kong</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Chairman of Seamless Group</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">Regal Planet Limited</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">Ultimate holding company</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">Sino Dynamic Solutions Limited</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">Company controlled by a director of the Company</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">PT Walletku Indompet Indonesia</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">Investment held indirectly by the Company</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 40%">Ripple Labs Singapore Pte. Ltd. </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 58%">Minority 40% owner of Tranglo Sdn. Bhd. (“Tranglo”) </td> </tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">Ripple Services, Inc. </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">Minority 40% owner of Tranglo Sdn. Bhd. (“Tranglo”) </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(b)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The Company had the following significant related party transactions for the Six months ended June 30, 2024 and 2023, respectively:</td></tr></table> SCHEDULE OF RELATED PARTY TRANSACTIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20240101__20240630_zb2XU7ZK6jih" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20230101__20230630_zq1nN0lHyeJ7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six months ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Sino Dynamic Solutions Limited</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--PaymentsToAcquireIntangibleAssets_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SinoDynamicSolutionsLimitedMember_zWqrOWb1uCMg" style="vertical-align: bottom; background-color: White"> <td style="width: 50%; text-align: left">Purchase of intangible assets</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">1,035,877</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_ecustom--PaymentsForSupportAndMaintenanceCosts_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SinoDynamicSolutionsLimitedMember_zh0IuBol2KU3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Support and maintenance costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">471,900</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">459,118</td><td style="text-align: left"> </td></tr> </table> SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 0.5in">8</td> <td>Related party transactions (Continued)</td></tr> </table> A Pay-Out Support Agreement (the “Agreement”) between Ripple Services, Inc. and Tranglo was entered into on March 10, 2021. According to the Agreement, Tranglo agreed to integrate with RippleNet and On Demand Liquidity (collectively the Ripple Solution) which are developed by Ripple for facilitating cross-border payments, and act as the service provider of Ripple. Under the Agreement, Tranglo’s remittance partners can choose to adopt the use of XRP provided by On-Demand Liquidity facility for prefunding purposes. Both Ripple and Tranglo agreed to make use of the Programmatic Liquidation system for liquidation of XRP as received by Tranglo for prefunding purposes into USD or other fiat currencies. Under the Agreement, Ripple guarantees that Tranglo will receive the agreed amount of fiat currencies from the liquidation of XRP on every agreed XRP prefunding arrangement, and that any shortfall in the liquidation process will be covered by Ripple. In exchnage, Tranglo has to offer certain discounts on transaction fees and foreign exchange fees for the remittance partners who adopt the On-Demand Liquidity services of Ripple Solution and use XRP for prefunding transactions. Ripple Labs Singapore Pte. Ltd. and Tranglo entered into a Master XRP Commitment to Sell Agreement on March 11, 2022, which was subsequently amended in 2022 and 2023 (referred to as the “Tranglo Commitment to Sell Agreement”). Pursuant to the Tranglo Commitment to Sell Agreement, Tranglo can execute ODL transactions in which Ripple Labs Singapore Pte. Ltd will make available via automated wallet funding service (“AWF”) up to $50,000,000 worth of XRP for working capital purposes. Under the Tranglo Commitment to Sell Agreement, Ripple Labs Singapore Pte. Ltd deposits certain amounts of XRP into Tranglo’s crypto wallet. The Tranglo Commitment to Sell Agreement stipulates that the legal title and rights to the XRP deposited in Tranglo’s crypto wallet belong to Ripple Labs Singapore Pte. Ltd. Under the Tranglo Commitment to Sell Agreement, Tranglo agrees to transfer XRP in its crypto wallet as provided by Ripple Labs Singapore Pte. Ltd in its bailment account to Tranglo for prefunding purposes. In exchange for obtaining the XRP, Tranglo has the obligation to repay the amount of fiat currency as agreed in the ODL transaction to Ripple Labs Singapore Pte. Ltd. The balance of deposits of XRP in Tranglo’s crypto wallet as of June 30, 2024 and December 31, 2023 was approximately $1.9 million and $2.0 million, respectively. A maximum limit of $50.0 million is included in the Tranglo Commitment to Sell Agreement. Ripple Labs Singapore Pte. Ltd. and GEA also entered into a Master XRP Commitment to Sell Agreement on September 12, 2022 (referred to as the “GEA Commitment to Sell Agreement”), when GEA was onboarded as an ODL RP. Pursuant to the GEA Commitment to Sell Agreement, GEA can execute ODL transactions. Under the GEA Commitment to Sell Agreement, Ripple Labs Singapore Pte. Ltd deposits certain amounts of XRP into the account of its ODL RP (i.e., the crypto wallet of GEA). The GEA Commitment to Sell Agreement stipulates that the legal title and rights to the XRP deposited in GEA’s crypto wallet belong to Ripple Labs Singapore Pte. Ltd. Under the GEA Commitment to Sell Agreement, GEA agrees to transfer XRP in its crypto wallet as provided by Ripple Labs Singapore Pte. Ltd in its bailment account to Tranglo for prefunding purposes. Once the XRP transfer is confirmed, the legal title of that XRP will be transferred from Ripple Labs Singapore Pte. Ltd to GEA. Also, in exchange for obtaining the XRP, GEA has the obligation to repay the amount of fiat currency as agreed in the ODL transaction to Ripple Labs Singapore Pte. Ltd. Ripple Labs Singapore Pte. Ltd and GEA also entered into a Line of Credit and related addendums in connection with the GEA Commitment to Sell Agreement, under which Ripple Labs Singapore Pte. Ltd provided to GEA a $5 million credit facility for a two-year term, providing GEA with the resources to aggressively promote the use of ODL services. The balance of deposits of XRP in GEA’s crypto wallet as of June 30, 2024 and December 31, 2023 was zero and zero, respectively. There is no maximum limit included in the GEA Commitment to Sell Agreement. Under the Master XRP Commitment to Sell Agreement signed between Ripple and GEA Limited, Ripple will make available XRP for GEA. GEA can choose to adopt the use of XRP provided by Ripple’s On-Demand Liquidity facility for prefunding purposes. Each withdrawal of XRP shall be converted into a USD purchase price based on mutually agreed upon rate quote. XRP will be sent to Tranglo for liquidation of XRP into USD by Programmatic Liquidation system for prefunding transactions. SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 0.5in">8</td> <td>Related party transactions (Continued)</td></tr> </table> The total dollar value of the ODL remittance partner transactions related to the XRP that was drawn down in the prefunding arrangements for the Six months period ended June 30, 2024 and 2023 are approximately $<span id="xdx_90E_eus-gaap--RelatedPartyTransactionAmountsOfTransaction_pn5n6_c20240101__20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RippleSolutionMember_zF4kUZ3URZn8" title="Related party transaction amounts of transaction">157.4 million and $<span id="xdx_902_eus-gaap--RelatedPartyTransactionAmountsOfTransaction_pn5n6_c20230101__20230630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RippleSolutionMember_zHS1K6emJyyh" title="Related party transaction amounts of transaction">304.2 million, respectively. Revenues for Tranglo generated from the ODL remittance for the Six months period ended June 30, 2024 and 2023 are approximately $<span id="xdx_90B_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn5n6_c20240101__20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TrangloMember_zNiCdci76xlh" title="Revenue">0.6 million and $<span id="xdx_901_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn5n6_c20230101__20230630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TrangloMember_z6gMMvaET0t" title="Revenue">1.1 million, respectively. Amounts settled to Ripple for the Six months period ended June 30, 2024 and 2023 are approximately $404.9 million and $421.6 million, respectively. Amounts settled to Ripple by GEA Limited for ODL prefunding transactions while acting as the ODL RP for the periods ended June 30, 2024 and 2023 are approximately $Nil and $104.2 million, respectively. Amounts settled to Ripple by Tranglo which had made use of the ODL services while acting as the remittance hub for the Six months period ended June 30, 2024 and 2023 were approximately $404.9 million and $317.4 million, respectively. ODL balance with Ripple has been disclosed in the related party balance note below. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(c)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The Company had the following related party balances as of June 30, 2024 and December 31, 2023:</td></tr></table> SCHEDULE OF RELATED PARTY BALANCES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20240630_zMjAahvpODk9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20231231_zYHATkcKev0c" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Amounts due from related parties</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--OtherReceivables_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SinoDynamicSolutionsLimitedMember_zHDHtCofAUR3" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 50%; text-align: left">Sino Dynamic Solutions Limited</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">5,310,626</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">7,148,208</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--OtherReceivables_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--OthersMember_zSfu6v9Zi1f3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; padding-bottom: 1pt">Others</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">403,962</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">139,168</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--OtherReceivables_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_ziBDqvDPU061" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Amounts due from related parties</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">5,714,588</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">7,287,376</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Amounts due to related parties</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OtherLiabilities_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RegalPlanetLimitedMember_zS0b2G3FdOQd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Regal Planet Limited</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">48,239,354</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">48,654,398</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--OtherLiabilities_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SinoDynamicSolutionsLimitedMember_zF5GxwfpTnqd" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Sino Dynamic Solutions Limited</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,946,723</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,130,912</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--OtherLiabilities_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrAlexanderKongMember_zXtvEzWBobA4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Mr. Alexander Kong</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">829,793</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">114,374</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--OtherLiabilities_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RippleLabIncMember_zC8owWiaUtG5" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Ripple Lab Inc.</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">37,387,554</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">32,584,911</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--OtherLiabilities_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--OthersMember_zW0aSTZnkXDl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; padding-bottom: 1pt">Others</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,000,534</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,003,924</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--OtherLiabilities_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zWsZPWXEcQfl" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Amounts due to related parties</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">90,403,958</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">86,488,519</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The amounts due from/to related parties are unsecured, interest-free and repayable on demand, except for the balance with Ripple, which is interest free for one week. Interest paid to Ripple for the periods ended June 2024 and 2023 is US$303,339 and US$403,946, respectively. The transactions occur in the course of the Company’s operations. Amount due to Ripple of $27 million by GEA Limited as of June 30, 2024 is guaranteed by Seamless Group Inc., Regal Planet Limited and Kong King Ong Alexander. Borrowings arising from transactions with related parties are described in Note 4.

SCHEDULE OF RELATED PARTY TRANSACTIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20240101__20240630_zb2XU7ZK6jih" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20230101__20230630_zq1nN0lHyeJ7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six months ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Sino Dynamic Solutions Limited</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--PaymentsToAcquireIntangibleAssets_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SinoDynamicSolutionsLimitedMember_zWqrOWb1uCMg" style="vertical-align: bottom; background-color: White"> <td style="width: 50%; text-align: left">Purchase of intangible assets</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">1,035,877</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_ecustom--PaymentsForSupportAndMaintenanceCosts_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SinoDynamicSolutionsLimitedMember_zh0IuBol2KU3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Support and maintenance costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">471,900</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">459,118</td><td style="text-align: left"> </td></tr> </table>

1035877

471900 459118 50000000

1900000

2000000.0

50000000.0

5000000

157400000

304200000

600000

1100000

404900000

421600000

104200000

404900000

317400000

SCHEDULE OF RELATED PARTY BALANCES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.75in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20240630_zMjAahvpODk9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20231231_zYHATkcKev0c" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Amounts due from related parties</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--OtherReceivables_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SinoDynamicSolutionsLimitedMember_zHDHtCofAUR3" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 50%; text-align: left">Sino Dynamic Solutions Limited</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">5,310,626</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 21%; text-align: right">7,148,208</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--OtherReceivables_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--OthersMember_zSfu6v9Zi1f3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; padding-bottom: 1pt">Others</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">403,962</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">139,168</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--OtherReceivables_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_ziBDqvDPU061" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Amounts due from related parties</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">5,714,588</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">7,287,376</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Amounts due to related parties</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OtherLiabilities_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RegalPlanetLimitedMember_zS0b2G3FdOQd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Regal Planet Limited</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">48,239,354</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">48,654,398</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--OtherLiabilities_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SinoDynamicSolutionsLimitedMember_zF5GxwfpTnqd" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Sino Dynamic Solutions Limited</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,946,723</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,130,912</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--OtherLiabilities_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrAlexanderKongMember_zXtvEzWBobA4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Mr. Alexander Kong</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">829,793</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">114,374</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--OtherLiabilities_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RippleLabIncMember_zC8owWiaUtG5" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Ripple Lab Inc.</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">37,387,554</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">32,584,911</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--OtherLiabilities_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--OthersMember_zW0aSTZnkXDl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; padding-bottom: 1pt">Others</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,000,534</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,003,924</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--OtherLiabilities_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zWsZPWXEcQfl" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Amounts due to related parties</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">90,403,958</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">86,488,519</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

5310626

7148208

403962

139168

5714588

7287376

48239354

48654398

2946723

4130912

829793

114374

37387554

32584911

1000534

1003924

90403958

86488519

303339

403946

27000000

9 Convertible bonds CONVERTIBLE BONDS On September 14, 2023, the parties entered into the Third Amendment Agreement for the purpose of, among others, reviewing and amending certain terms and conditions under the Amended and Restated Convertible Bond Instrument, and further the Company has been authorized by a resolution of its board of directors dated September 11, 2023 to create and issue a USD10,000,000 <span id="xdx_909_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20230914__us-gaap--TypeOfArrangementAxis__custom--ThirdAmendmentAgreementMember_zhooiQcQ2Is3" title="Convertible bonds percentage">15% secured guaranteed convertible bonds (the “Convertible Bonds”) and to replace and terminate the Amended and Restated Convertible Bond Instrument (the “Second Amended and Restated Convertible Bond Instrument” or the “Convertible Bond Instrument”).

10000000

0.15

10 Commitments and Contingencies COMMITMENTS AND CONTINGENCIES The Company believes there are no commitments or contingencies arising from the normal course of business or any legal proceedings that require recognition or disclosure in the condensed consolidated financial statements.

Periods presented have been adjusted. Additional information regarding the adjustment may be found in Note 3 – Restatement of Previously Issued Financial Statements, included elsewhere in the notes to the financial statements. Periods presented have been adjusted. Additional information regarding the adjustment may be found in Note 3 – Restatement of Previously Issued Financial Statements, included elsewhere in the notes to the financial statements.