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Unaudited Interim Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended 12 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES          
Loss before tax $ (25,265,286) $ (71,066,646) $ (172,537,530) $ (49,693,594) $ (30,970,178)
Adjustments for:          
Finance costs 13,363 3,568,652 19,028,007 7,800,597 1,702,457
Interest income (951,067) (126,021) (872,503) (28,043) (14,734)
Gain on disposal of items of property and equipment, net (3,074) (2,743) (3,690) (4,539) (542)
Loss on lease modifications     65,406
Depreciation of property and equipment 129,116 115,641 218,471 328,438 335,971
Depreciation of right-of-use assets 358,474 385,376 743,956 871,157 784,029
Amortization of intangible assets 1,559,899 1,898,742 6,202,250 3,589,155 2,780,348
Impairment of assets 91,599      
Impairment of intangible assets     3,105,507 1,450,781
Impairment of goodwill     4,382,926
Equity-settled share option expense 1,637,724 795,125 6,629,044 14,430,835 9,352,862
Other equity-settled transactions     500,000 882,115
Share-based payment on listing     67,027,178
Gain on derecognition of convertible loans and bridge loan     (135,031)
Changes in fair value of financial instruments 236,547 57,937,053 57,333,432 1,101,484 178,859
Other long-term employee benefits credit (84,221) 109,702 (4,951,482) (240,028)
Retirement benefits expense 20,002 28,589 56,672 75,376 156,279
Unrealised foreign exchange differences, net 5,801,573 2,069,745 (895,392) 3,389,441 2,746,780
Provision for expected credit losses     3,757 53,558
Reversal of provision for expected credit losses     (1,558) (14,242) (26,898)
Total adjustments (16,371,130) (4,480,708) (13,352,697) (16,459,220) (13,161,237)
(Increase)/decrease in accounts receivable (206,785) 425,549 (7,396,057) 5,351,533 (7,310,022)
Increase in prepayments, deposits and other receivables (556,963) (275,865) (1,196,743) (728,924) 445,085
Decrease/(increase) in contract assets 3,146,698 (268,332) (4,759,157) (2,618,240) (3,834,058)
Increase/(decrease) in accounts payable 2,027,298 (1,959,639) 6,957,443 736,264 5,338,141
Payment for reinstatement of terminated lease     (33,977)
Increase in other payables and accruals 685,735 3,687,209 2,764,508 (834,285) 4,184,924
Cash used in operations (11,275,147) (2,871,786) (17,016,680) (14,552,872) (14,337,167)
Interest paid (12,166) (28,645) (48,363) (42,130) (48,171)
Income tax refunded     22,338
Retirement benefits paid     (14,402)
Net cash flows used in operating activities (11,287,313) (2,900,431) (17,042,705) (14,609,404) (14,385,338)
CASH FLOWS FROM INVESTING ACTIVITIES          
Interest received 945,168 118,879 859,454 15,905 5,207
Purchases of items of property and equipment (295,267) (49,633) (117,337) (254,925) (281,832)
Proceeds from disposal of items of property and equipment 3,074 5,194 6,104 9,002 542
Additions to other intangible assets (712,198) (1,205,802) (2,097,621) (4,734,550) (5,166,059)
Decrease in pledged bank deposits 6,365 107 7,138 (10,775) (32,971)
Net cash flows used in investing activities (52,858) (1,131,255) (1,342,262) (4,975,343) (5,475,113)
CASH FLOWS FROM FINANCING ACTIVITIES          
Proceeds from convertible loans     12,656,069
Proceeds from bridge loan     7,000,000 13,150,000
Settlement of bridge loan     (6,390,000)
Proceeds from loan notes     5,000,000 22,397,271
Proceeds from Capital Reorganization, net     91,513,464
Settlement of loan notes     (32,720,827)
Proceeds from exercise of share option 2,320      
Principal portion of lease payments (363,641) (382,853) (730,908) (873,308) (785,494)
Payment of other finance costs     (780,000)
Net cash flows used in financing activities (361,321) (382,853) 63,061,729 34,790,032 11,584,506
NET DECREASE IN CASH AND CASH EQUIVALENTS (11,701,492) (4,414,539) 44,676,762 15,205,285 (8,275,945)
Cash and cash equivalents at beginning of period 68,641,016 24,077,695 24,077,695 9,190,286 17,610,635
Effect of foreign exchange rate changes, net (442,247) (207,634) (113,441) (317,876) (144,404)
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 56,497,277 $ 19,455,522 $ 68,641,016 $ 24,077,695 $ 9,190,286