Note 5 - Other receivables, prepayments and deposits Other receivables, prepayments and deposits as of December 31, 2025 and 2024 consisted of the following: | | | | | | | | | December 31, | | | 2025 | | 2024 | | | | | | | | Utility deposits | | $ | 1,861 | | $ | 19 | Other receivables | | | 94 | | | 225 | Other prepayments | | | 626 | | | 227 | Deposit - acquisiton of an associate * | | | 1,476 | | | — | Other receivables, prepayments and deposits, net | | $ | 4,057 | | $ | 471 |
* | On August 15, 2025, the Company’s subsidiary acquired a 49% equity interest in Blue Pool Ventures Limited (“Blue Pool”) for $1,476. On December 31, 2025, in order to facilitate regulatory approvals, the Company entered into a repurchase agreement with the seller. The transaction was accounted for as a financing arrangement. The Company received a promissory note for the full consideration of $1,476, which is recorded within Other Receivables on the Consolidated Balance Sheets. No gain or loss was recognized on the transaction. The agreement includes a contingent right of reacquisition. If the Company prevails in the appeal of the Hong Kong High Court case HCA938/2022 within three years, the shares may be transferred back to the Company at cost, and the note will be cancelled. Management does not anticipate a material impact on the Company’s financial position as a result of this contingency. |
For the years ended December 31, 2025, 2024 and 2023, a provision of $99, $2 and $8 was charged to the consolidated statement of comprehensive loss, and no write-offs against provisions was made.
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