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Segments (Tables)
9 Months Ended 12 Months Ended
Sep. 30, 2024
Dec. 31, 2023
Schedule of segment reporting for revenue

   2024   2023   2024   2023 
  

Three months ended

September 30,

  

Nine months ended

September 30,

 
   2024   2023   2024   2023 
   US$   US$   US$   US$ 
Revenue                    
Remittance services                    
Fiat remittance   4,754,297    5,890,240    17,038,494    18,878,689 
ODL remittance   191,588    410,076    749,969    972,872 
Sales of Airtime   6,289,988    6,395,893    17,469,080    19,925,467 
Other services   23,843    40,338    112,960    124,938 
Revenue   11,259,716    12,736,547    35,370,503    39,901,966 
Cost of sales                    
Remittance services   (2,211,516)   (2,705,658)   (7,743,463)   (8,513,348)
Sales of Airtime   (5,817,457)   (5,815,033)   (16,017,579)   (17,954,058)
Other services   (95,569)   (76,657)   (269,752)   (225,087)
Cost of sales   (8,124,542)   (8,597,348)   (24,030,794)   (26,692,493)
Gross Profit                    
Remittance services   2,734,369    3,594,658    10,045,000    11,338,213 
Sales of Airtime   472,531    580,860    1,451,501    1,971,409 
Other services   (71,726)   (36,319)   (156,792)   (100,149)
Gross Profit   3,135,174    4,139,199    11,339,709    13,209,473 
 
Schedule of goodwill reportable segments

The following table sets forth the goodwill by reportable segments:

 

   September 30, 2024  December 31, 2023
   US$  US$
Remittance services   12,919,935   12,921,592
Sales of Airtime   14,079,791   14,079,791
Goodwill   26,999,726   27,001,383
 
Seamless Group Inc [Member]    
Schedule of segment reporting for revenue  
         
   Years ended December 31, 
   2023   2022 
   US$   US$ 
Revenue  -    -  
Remittance services   26,695,196    26,714,151 
Sales of Airtime   26,398,707    28,501,152 
Other services   161,458    285,614 
Revenue   53,255,361    55,500,917 

 

   Years ended December 31, 
   2023   2022 
   US$   US$ 
Cost of sales  -    -  
Remittance services   (11,375,525)   (13,268,205)
Sales of Airtime   (24,206,112)   (26,370,613)
Other services   (317,419)   (242,129)
Cost of sales   (35,899,057)   (39,880,947)

 

   Years ended December 31, 
   2023   2022 
   US$   US$ 
Gross Profit   -     -  
Remittance services   15,319,671    13,445,946 
Sales of Airtime   2,192,595    2,130,539 
Other services   (155,962)   43,485 
Gross Profit   17,356,304    15,619,970 
Schedule for additions to long-lived assets other than goodwill and acquired intangible assets  

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

 

           
   December 31, 
   2023   2022 
   US$   US$ 
Remittance services expense   302,950    532,457 
Sales of Airtime   -    - 
Other services   -    - 
Expenditure for additions to long-lived assets other than goodwill and acquired intangible assets   302,950    532,457 
Schedule of geographical information  

The following table sets forth the revenues by geographical area:

Schedule of geographical information

 

         
   Years ended December 31, 
   2023   2022 
   US$   US$ 
Revenue        
Hong Kong   9,726,364    8,647,764 
Malaysia   29,317,906    36,742,314 
Indonesia   14,211,091    10,110,839 
Revenue   53,255,361    55,500,917 
Schedule of long lived assets geographical information  

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

 

           
   December 31, 
   2023   2022 
   US$   US$ 

Long-lived assets other than goodwill and acquired intangible assets

          
Hong Kong   4,368,106    3,647,913 
Malaysia   1,005,601    1,276,989 
Indonesia   62,056    121,698 
Long-Lived Assets   5,435,763    5,046,600 
           
Add: Non-disclose items          
Investment in an equity security   100,000    100,000 
Deferred tax assets   972,984    768,617 
Goodwill   27,001,383    27,001,383 
Acquired intangible assets   4,926,674    6,467,231 
Long-lived assets other than goodwill and acquired intangible assets   33,001,041    39,383,831 
Schedule of goodwill reportable segments  

The following table sets forth the goodwill by reportable segments:

Schedule of goodwill reportable segments

 

           
   December 31, 
   2023   2022 
   US$   US$ 
Remittance services   12,921,592    12,921,592 
Sales of Airtime   14,079,791    14,079,791 
Goodwill   27,001,383    27,001,383