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Consolidated Statements of Cash Flow (Unaudited)
3 Months Ended
Jun. 30, 2024
USD ($)
Jun. 30, 2023
USD ($)
Cash flows from operating activities    
Net loss including non controlling interest $ (48,452,344) $ (4,066,996)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 480,349 367,538
Stock based compensation 26,230,989  
Deferred income taxes (37,185) (26,005)
Unrealised foreign exchange loss/(profit) (3,398) 11,413
Fair value losses in financial instruments carried at fair value 17,152,060  
Expected credit loss (net of reversal) (50,682)  
Balances written off/(back)   (32,778)
Changes in assets and liabilities, net of assets acquired and liabilities assumed from acquisitions:    
Inventories (6,803) (18,928)
Income taxes, net   19,362
Accounts receivables, net 1,037,883 (2,851,128)
Prepayments and other assets 1,046,454 (1,339,900)
Accounts payable and accrued expenses and other current liabilities (2,767,021) 7,951,537
Other liabilities (296,982) (2,937,334)
Net cash used in operating activities (5,666,680) (2,923,219)
Cash flows from investing activities    
Sale/ (Purchase) of property and equipment, intangible assets and goodwill 32,745 204,329
Acquisition of businesses   (2,720,000)
Proceeds from sale of mutual fund 193,606  
Proceeds from forward purchase agreement 1,000,000  
Net cash used in investing activities 1,226,351 (2,515,671)
Cash flows from financing activities    
Proceeds from issue of preferred stock   4,445,027
Proceeds from long-term borrowings   2,662,590
Repayments of long-term borrowings (121,365) (29,622)
Net proceeds/(payments) from short-term borrowings 1,154,519 5,298,782
Net cash generated from financing activities 1,033,154 12,376,777
Effect of exchange rate changes on cash and cash equivalents (3,519) (31,815)
Net (decrease)/increase in cash and cash equivalents (including restricted cash) (3,410,694) 6,906,072
Cash acquired in business combination   11,180,117
Cash and cash equivalents at the beginning of the period (including restricted cash) 11,565,088 1,131,831
Cash and cash equivalents at the end of the period (including restricted cash) 8,154,394 19,218,020
Reconciliation of cash and cash equivalents    
Cash and cash equivalents 7,777,413 18,674,424
Restricted cash 376,981 543,596
Total cash and cash equivalents 8,154,394 19,218,020
Supplemental disclosure of cash flow information    
Cash paid for interest, net of amounts capitalized 391,829 123,180
Cash paid for income taxes, net of refunds   84,197
Non-cash investing and financing activities    
Consideration payable in connection with acquisitions 488,000 3,621,531
Interest accrued on borrowings $ 790,395 $ 143,278