|
FY2025
12 months to Dec 31, 2025
|
FY2024
12 months to Dec 31, 2024
|
|
|---|---|---|
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net loss | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | ||
| Amortization of right-of-use asset | ||
| (Reverse)/allowance for expected credit loss | ||
| Loss on disposal of property and equipment | ||
| Deferred tax benefits | ||
| Non-employee share-based compensation | ||
| Interest accrual and amortization of discount for convertible note | ||
| Loss on fair value change | ||
| Changes in assets and liabilities: | ||
| Accounts receivable | ||
| Contract cost assets | ||
| Amounts due from related parties | ||
| Prepaid expenses and other current assets | ||
| Other non-current assets | ||
| Accounts payable | ||
| Deferred revenue | ||
| Amounts due to related parties | ||
| Operating lease liabilities | ||
| Accrued expenses and other current liabilities | ||
| Net cash used in operating activities | ||
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Purchase of property and equipment | ||
| Net cash used in investing activities | ||
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Deferred offering costs | ||
| Proceeds from short-term bank loans | ||
| Repayments of long-term bank loans | ||
| Loans from related parties | ||
| Repayment of loans from related parties | ||
| Proceeds from IPO | ||
| Proceeds from sale of shares in a private investment in public equity, net of costs | ||
| Proceeds from convertible notes payable, net of offering cost | ||
| Settlement of loan to related parties | ||
| Net cash provided by financing activities | ||
| Effect of exchange rate changes | ||
| Net decrease in cash | ||
| Cash, at beginning of the year | ||
| Cash, at end of the year | ||
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | ||
| Interest paid | ||
| SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITIES: | ||
| Obtaining right-of-use assets in exchange for operating lease liabilities | ||
| Remeasurement of the lease liabilities and right-of-use assets due to lease modification | ||
| Deferred offering cost recognized to additional paid-in capital |
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