| PREPAYMENT AND OTHER CURRENT ASSETS |
| 6 | PREPAYMENT
AND OTHER CURRENT ASSETS |
| | |
As
of
December 31,
2025 | | |
As
of
December 31,
2024 | |
| | |
US$ | | |
US$ | |
| Current | |
| | |
| |
| Deposits and prepayment | |
| 1,392,753 | | |
| 2,204,812 | |
| Other receivables | |
| 609,041 | | |
| 704,100 | |
| Prepayment for fundraising* | |
| - | | |
| 1,000,000 | |
| Current,
gross | |
| 2,001,794 | | |
| 3,908,912 | |
| Allowance for expected credit losses | |
| (750,000 | ) | |
| - | |
| | |
| 1,251,794 | | |
| 3,908,912 | |
| | |
| | | |
| | |
| Non-current | |
| | | |
| | |
| Deposit others | |
| 414,983 | | |
| 260,543 | |
| Prepayment, non-current | |
| 7,866 | | |
| 114,317 | |
| Non-current,
net | |
| 422,849 | | |
| 374,860 | |
| Total
prepayment and other assets | |
| 1,674,643 | | |
| 4,283,772 | |
| * | The balance of prepayment for fundraising represents a prepaid deposit of $1 million to a consulting firm for financing. The service has been provided in connection with the follow-on offering, which closed on September 11, 2025 |
| |
i) |
Financial
risk management |
The
exposure of prepayments and other current assets to credit risk is disclosed in Note 24.
|