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Consolidated Statements of Cash Flows
12 Months Ended
Dec. 31, 2023
USD ($)
Dec. 31, 2023
SGD ($)
Dec. 31, 2022
SGD ($)
Dec. 31, 2021
SGD ($)
CASH FLOWS FROM OPERATING ACTIVITIES:        
Net loss $ (4,181,177) $ (5,516,224) $ (3,074,041) $ (1,893,275)
Adjustments to reconcile net loss to net cash used in operating activities:        
Stock-based compensation 407,607 537,756
Depreciation of property and equipment 26,111 34,448 29,952 12,886
Amortization of operating lease right-of-use assets 248,153 327,389 293,461 226,300
Amortization of intangible assets 93,873 123,848
Provision for expected credit losses accounts 5,776 7,619 16,683 23,210
Loss of disposal of property and equipment 343 453
Interest income (61,827) (81,568)
Changes in assets and liabilities:        
Accounts receivable (117,114) (154,509) (127,005) 99,310
Prepayments (119,725) (157,953) 10,040 (50,898)
Other current assets, net 31,404 41,431 (2,326) 24,671
Deposits 10,825 14,281 (23,097) 31,948
Accounts payable 223,227 294,503 (29,758) (255,390)
Contract liabilities (130,357) (171,980) 115,960 70,346
Accrued liabilities and other payables 126,891 167,407 11,897 130,531
Other taxes payable 1,164 1,536 (42,246) 16,574
Operating lease obligation (245,112) (323,376) (285,837) (248,277)
NET CASH USED IN OPERATING ACTIVITIES (3,679,937) (4,854,939) (3,106,317) (1,812,064)
CASH FLOWS FROM INVESTING ACTIVITIES:        
Purchases of property and equipment (38,213) (50,415) (15,327) (42,308)
Purchases of intangible assets (558,783) (737,203)
Acquisition of subsidiary, net of cash acquired (234,451) (309,311)
Deposit for an acquisition (2,605,670) (3,437,661)
Loan repayment by a shareholder 870,728 (870,728)
NET CASH USED IN INVESTING ACTIVITIES (3,437,117) (4,534,590) 855,401 (913,036)
CASH FLOWS FROM FINANCING ACTIVITIES:        
Proceeds from common share issued for cash 2,821 3,722 4,710,000
Amounts lend from/(repayment to) a shareholder, net (1,735,802) (2,290,044) 2,290,044 (636,898)
Net proceeds from initial public offering 8,456,759 11,157,002
Deferred public offering costs (87,011) (114,794) (676,321)
Advances from directors 689,405 909,532
Repayment of long-term loans (238,962) (315,263) (308,461) (299,543)
NET CASH PROVIDED BY FINANCING ACTIVITIES 7,087,210 9,350,155 1,305,262 3,773,559
Foreign currency effect (53,249) (70,252) 26,156 5,880
NET CHANGE IN CASH AND CASH EQUIVALENTS (83,093) (109,626) (919,498) 1,054,339
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD 228,479 301,433 1,220,931 166,592
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT PERIOD END 145,386 191,807 301,433 1,220,931
Cash paid for:        
Income tax paid
Bank Loan and Operating Lease Interest $ 22,939 $ 30,264 $ 39,152 $ 49,926