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FY2025
12 months to Dec 31, 2025
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FY2024
12 months to Dec 31, 2024
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|---|---|---|
| Cash flows from operating activities: | ||
| Net loss | ||
| Adjustments reconcile net loss to cash used in operating activities: | ||
| Depreciation and amortization | ||
| Stock-based compensation | ||
| Bad debt expense | ||
| Loss from change in fair-value of convertible shareholder loan | ||
| Non-cash gain on debt extinguishment | ||
| Accrued interest expense on shareholder loans | ||
| Shareholder loan debt discounts | ||
| Unrealised loss/(gains) | ||
| Changes in operating assets and liabilities: | ||
| Accounts receivable and other receivables | ||
| Prepayments and Other current assets | ||
| Accounts payable and vouchers payable | ||
| Accrued expenses | ||
| Value-added tax payable | ||
| Income taxes receivable | ||
| Other current liabilities | ||
| Net cash used in operating activities | ||
| Cash flows from investing activities: | ||
| Purchases of property and equipment | ||
| Purchases of intangible assets | ||
| Acquisition of investment in joint venture | ||
| Net cash used in investing activities | ||
| Cash flows from financing activities: | ||
| Proceeds from issuance of common stock | ||
| Proceed from issuance of debt (convertible loans) | ||
| Proceed from shareholder loan | ||
| Proceeds from short-term borrowings | ||
| Net cash provided by financing activities | ||
| Effect of exchange rate changes on cash and cash equivalents | ||
| Change in cash, cash equivalents and restricted cash during the year | ||
| Cash, cash equivalents and restricted cash, beginning of year | ||
| Cash, cash equivalents and restricted cash, end of period | ||
| *Non-cash transactions in the year related to the folowing: | ||
| Conversion of Shareholders loans to equity on IPO | ||
| Convertible loans to equity |
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