XML 112 R44.htm IDEA: XBRL DOCUMENT v3.26.1
Income taxes (Tables)
12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Schedule of components of loss before income taxes

The United States and foreign components of loss before income taxes were comprised of the following:

 

  

For the Year Ended

December 31, 2025

  

For the Year Ended

December 31, 2024

  

For the Year Ended

December 31, 2023

 
   US$   US$   US$ 
U.S. loss  $(2,783,583)  $(1,741,678)  $(3,843,380)
Foreign loss   (8,657,975)   (4,083,710)   (4,088,153)
Total loss before income taxes  $(11,441,558)  $(5,825,388)  $(7,931,533)
Schedule of provision for income taxes

The provision for income taxes consisted of the following:

 

  

For the Year Ended

December 31, 2025

  

For the Year Ended

December 31, 2024

  

For the Year Ended

December 31, 2023

 
   US$   US$   US$ 
Current               
Federal  $-   $-   $- 
State   22,838    16,671    6,775 
Foreign   77,664    41,552    26,464 
Deferred               
Federal   -    -    - 
State   -    -    - 
Foreign   3,114           
Provision for income taxes  $103,616   $58,223   $33,239 
Schedule of effective tax rate

The following tables reconcile U.S. statutory rates to the Company’s effective tax rate:

 

   $   % 
  

For the Year Ended

December 31, 2025

 
   $   % 
Benefit for income taxes at U.S. federal statutory rate  $2,400,896    21.0%
State and local income taxes, net of federal benefit   800,909    7.0 
Tax rate differential outside of U.S.   (1,152,160)   (10.1)
Change in valuation allowance   (1,962,095)   (17.2)
Tax effect of capitalized software development costs deduction   (134,955)   (1.1)
Tax effect of non-deductible expenditure   (92,381)   (0.8)
Tax effect of non-taxable income   36,170    0.3
Total tax provision and effective tax rate  $(103,616)   (0.9)%

 

    $    % 
  

For the Year Ended

December 31, 2024

 
   $   % 
Provision for income taxes at U.S. federal statutory rate  $1,222,399    21.0%
State and local income taxes, net of federal benefit   407,777    7.0 
Tax rate differential outside of U.S.   (506,156)   (8.6)
Change in valuation allowance   (993,753)   (17.1)
Tax effect of capitalized software development costs deduction   (126,649)   (2.2)
Tax effect of deferred offering costs deduction   (88,049)   (1.5)
Tax effect of non- deductible expenditure   (28,755)   (0.5)
Tax effect of non- taxable income   54,963    0.9 
Total tax provision and effective tax rate  $(58,223)   (1.0)%

 

    %    $ 
  

For the Year Ended

December 31, 2023

 
   $   % 
U.S. federal statutory rate  $1,665,622    21.0%
State and local income taxes, net of federal benefit   555,207    7.0 
Tax rate differential outside of U.S.   (392,061)   (4.9)
Change in valuation allowance   (1,627,630)   (20.5)
Tax effect of capitalized software development costs deduction   (16,260)   (0.2)
Tax effect of deferred offering costs deduction   (79,157)   (1.0)
Tax effect of non- deductible expenditure   (140,943)   (1.8)
Tax effect of non- taxable income   1,983    0.0 
Total tax provision and effective tax rate  $(33,239)   (0.4)%
Schedule of aggregate deferred tax assets

The following table sets forth the significant components of the aggregate deferred tax assets of the Company:

 

  

As of

December 31, 2025

  

As of

December 31, 2024

 
   US$   US$ 
Deferred Tax Assets          
Net operating loss carryforwards – U.S.  $6,821,392   $5,575,673 
Net operating loss carryforwards – Singapore   4,605,688    3,886,272 
Net operating loss carryforwards – Other counties     714,248       718,791  
Less: valuation allowance   (12,141,328)   (10,180,736)
Deferred tax assets, net  $-   $- 
Schedule of supplemental schedule of cash paid for income taxes
   2025   2024   2023 
   Year Ended December 31, 
   2025   2024   2023 
Cash paid during the period for income taxes, net of refunds:            
Federal  $   $   $ 
State and local   27,341    13,110    7,022 
Foreign   60,452    16,415    26,217 
Total cash paid during the period for income taxes  $87,793   $29,525   $33,239