XML 76 R8.htm IDEA: XBRL DOCUMENT v3.26.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net loss $ (11,545,174) $ (5,883,611) $ (7,964,772)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation 17,251 21,136 14,121
Amortization of operating right-of-use assets 30,407 69,952 39,996
Amortization of discount on debt instrument 218,805 28,519 28,376
Amortization of capitalized software development costs 794,047 744,993 592,458
Interest expenses 314,096 87,366
Allowance for credit losses 30,358 125,651 41,605
Gain from disposal of equipment (59) (409)
Deferred tax expenses 3,114
Change in operating assets and liabilities:      
Accounts receivable 703,868 (381,472) 154,702
Other receivables 159,897 (291,497) 33,237
Other receivables - related parties 35,966 (35,389)
Prepayments and other current assets (601,877) (1,478) 139,669
Prepayments – related party (2,777,500)
Accounts payable (12,248) (286,625) 981,220
Other payables and accrued liabilities 2,154,760 724,177 575,978
Other payables - related parties 118,114 (177,276) 158,646
Deferred revenue (6,981) (97,633) (229,263)
Operating lease liabilities (28,459) (67,603) (38,429)
Employee benefit obligations 9,896
Net cash used in operating activities (10,417,626) (5,349,494) (5,508,254)
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of equipment (6,139) (12,762) (2,451)
Capitalized software development costs (708,384) (853,999) (875,768)
Loan to a third party (712,500)
Repayment of loan by a third party 311,628
Net cash used in investing activities (1,115,395) (866,761) (878,219)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Issuance of ordinary shares 8,167,310
Proceeds from initial public offering 12,000,000
Payments for initial public offering costs (2,316,725)
Payments of deferred offering costs (52,438) (354,790)
Proceeds from convertible notes 127,853 1,813,599
Proceeds from exercise of warrants 202,458 1,336,606 511,428
Repayments of secured borrowings – recourse factoring liabilities (471,537)
Proceeds of bank loans 67,430
Repayments of bank loans (491,666) (534,077) (475,294)
Net cash provided by financing activities 10,982,074 5,121,663 7,848,654
EFFECT OF EXCHANGE RATE CHANGES (144,677) 56,539 (111,119)
NET CHANGE IN CASH AND CASH EQUIVALENTS (695,624) (1,038,053) 1,351,062
CASH AND CASH EQUIVALENTS, beginning of the year 824,728 1,862,781 511,719
CASH AND CASH EQUIVALENTS, end of the year 129,104 824,728 1,862,781
SUPPLEMENTAL CASH FLOW INFORMATION:      
Cash paid for income taxes 87,793 29,525 33,239
Cash paid for interest 190,200 31,811 134,208
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:      
Initial recognition of operating right-of-use assets and lease liabilities 169,434 66,927
Issuance of warrants 195,835 277,609
Incremental fair value on modification of warrants 1,223,013
Conversion of convertible notes and accrued interest into ordinary shares 8,048,620
Deferred offering cost charged to additional paid-in capital upon the initial public offering 1,874,663
Nonrelated Party [Member]      
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from short-term loan - related parties 3,845,186 2,379,102
Repayments of short-term loan - related parties (1,897,673) (160,000)
Related Party [Member]      
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from short-term loan - related parties 411,576 271,441
Repayments of short-term loan - related parties $ (427,398)