Annual Report 2025
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025The Group | 2024The Group | Source |
|---|---|---|---|
| Income statement | |||
| Revenue$ | 325,615 | 592,046 | PDF p. 59 |
| Cost of sales$ | (179,241) | (199,621) | PDF p. 59 |
| Gross profit$ | 146,374 | 392,425 | PDF p. 59 |
| Other operating income$ | 195,056 | 829,530 | PDF p. 59 |
| Selling and distribution expenses$ | – | 21,779 | PDF p. 59 |
| Administrative expenses$ | (1,569,695) | (2,472,256) | PDF p. 59 |
| Other operating expenses$ | (714,693) | (3,008,163) | PDF p. 59 |
| Finance costs$ | (1,510) | (72,976) | PDF p. 59 |
| Loss before tax$ | (1,944,468) | (4,309,661) | PDF p. 59 |
| Tax expense$ | – | – | PDF p. 59 |
| Loss for the year$ | (1,944,468) | (4,309,661) | PDF p. 59 |
| Other comprehensive income, after tax: Items that may be reclassified subsequently to profit or loss | |||
| Currency translation differences arising from foreign operations$ | 73,886 | 21,358 | PDF p. 59 |
| Other comprehensive income | |||
| Other comprehensive income for the year, net of tax$ | 73,886 | 21,358 | PDF p. 59 |
| Total comprehensive loss for the year$ | (1,870,582) | (4,288,303) | PDF p. 59 |
| Loss attributable to | |||
| Owners of the Company$ | (1,944,468) | (4,309,661) | PDF p. 59 |
| Total comprehensive loss attributable to | |||
| Owners of the Company$ | (1,870,582) | (4,288,303) | PDF p. 59 |
| Loss per share | |||
| – BasicCents | (0.89) | (2.29) | PDF p. 59 |
| – DilutedCents | (0.89) | (2.29) | PDF p. 59 |
Original report: PDF p. 59 ↗
Amounts in $ (Singapore dollars implied; header shows $). Loss per share in Cents. Note column references omitted from values.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025The Group, 31 December | 2024The Group, 31 December | Source |
|---|---|---|---|
| Non-Current Assets | |||
| Intangible assets$ | 417,636 | 1,431,265 | PDF p. 58 |
| Plant and equipment$ | 2,473 | 4,831 | PDF p. 58 |
| Right-of-use assets$ | – | – | PDF p. 58 |
| Subsidiaries$ | – | – | PDF p. 58 |
| Total non-current assets$ | 420,109 | 1,436,096 | PDF p. 58 |
| Current Assets | |||
| Other receivables$ | 63,987 | 61,246 | PDF p. 58 |
| Cash and bank balances$ | 11,746 | 14,324 | PDF p. 58 |
| Total current assets$ | 75,733 | 75,570 | PDF p. 58 |
| Assets | |||
| Total assets$ | 495,842 | 1,511,666 | PDF p. 58 |
| Capital and Reserves | |||
| Share capital$ | 26,161,182 | 25,912,480 | PDF p. 58 |
| Reserves$ | (2,125,257) | (2,045,441) | PDF p. 58 |
| Accumulated losses$ | (31,663,251) | (29,718,783) | PDF p. 58 |
| Total equity$ | (7,627,326) | (5,851,744) | PDF p. 58 |
| Non-Current Liabilities | |||
| Lease liabilities$ | – | 8,917 | PDF p. 58 |
| Trade and other payables$ | 1,776,869 | 2,000,656 | PDF p. 58 |
| Loans from shareholders$ | 4,968,200 | 4,220,600 | PDF p. 58 |
| Provision$ | – | 192,405 | PDF p. 58 |
| Total non-current liabilities$ | 6,745,069 | 6,422,578 | PDF p. 58 |
| Current Liabilities | |||
| Lease liabilities$ | 8,917 | 40,250 | PDF p. 58 |
| Trade and other payables$ | 1,194,003 | 900,582 | PDF p. 58 |
| Contract liabilities$ | – | – | PDF p. 58 |
| Provision$ | 175,179 | – | PDF p. 58 |
| Total current liabilities$ | 1,378,099 | 940,832 | PDF p. 58 |
| Liabilities | |||
| Total liabilities$ | 8,123,168 | 7,363,410 | PDF p. 58 |
| Equity and liabilities | |||
| Total equity and liabilities$ | 495,842 | 1,511,666 | PDF p. 58 |
Original report: PDF p. 58 ↗
Group columns only; Company columns are in the separate table. Quotes are the full printed rows including Company columns.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025The Company, 31 December | 2024The Company, 31 December | Source |
|---|---|---|---|
| Non-Current Assets | |||
| Intangible assets$ | 627 | 764 | PDF p. 58 |
| Plant and equipment$ | 2,473 | 4,781 | PDF p. 58 |
| Right-of-use assets$ | – | – | PDF p. 58 |
| Subsidiaries$ | – | – | PDF p. 58 |
| Total non-current assets$ | 3,100 | 5,545 | PDF p. 58 |
| Current Assets | |||
| Other receivables$ | 21,900 | 27,456 | PDF p. 58 |
| Cash and bank balances$ | 7,582 | 7,688 | PDF p. 58 |
| Total current assets$ | 29,482 | 35,144 | PDF p. 58 |
| Assets | |||
| Total assets$ | 32,582 | 40,689 | PDF p. 58 |
| Capital and Reserves | |||
| Share capital$ | 26,161,182 | 25,912,480 | PDF p. 58 |
| Reserves$ | 35,000 | 188,702 | PDF p. 58 |
| Accumulated losses$ | (32,147,234) | (31,080,299) | PDF p. 58 |
| Total equity$ | (5,951,052) | (4,979,117) | PDF p. 58 |
| Non-Current Liabilities | |||
| Lease liabilities$ | – | 8,917 | PDF p. 58 |
| Trade and other payables$ | – | – | PDF p. 58 |
| Loans from shareholders$ | 4,968,200 | 4,220,600 | PDF p. 58 |
| Provision$ | – | – | PDF p. 58 |
| Total non-current liabilities$ | 4,968,200 | 4,229,517 | PDF p. 58 |
| Current Liabilities | |||
| Lease liabilities$ | 8,917 | 40,250 | PDF p. 58 |
| Trade and other payables$ | 1,006,517 | 750,039 | PDF p. 58 |
| Contract liabilities$ | – | – | PDF p. 58 |
| Provision$ | – | – | PDF p. 58 |
| Total current liabilities$ | 1,015,434 | 790,289 | PDF p. 58 |
| Liabilities | |||
| Total liabilities$ | 5,983,634 | 5,019,806 | PDF p. 58 |
| Equity and liabilities | |||
| Total equity and liabilities$ | 32,582 | 40,689 | PDF p. 58 |
Original report: PDF p. 58 ↗
Company columns only. Quotes are the full printed rows including Group columns.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025The Group | 2024The Group | Source |
|---|---|---|---|
| Profit or loss | |||
| Revenue$ | 325,615 | 592,046 | PDF p. 59 |
| Cost of sales$ | (179,241) | (199,621) | PDF p. 59 |
| Gross profit$ | 146,374 | 392,425 | PDF p. 59 |
| Other operating income$ | 195,056 | 829,530 | PDF p. 59 |
| Selling and distribution expenses$ | – | 21,779 | PDF p. 59 |
| Administrative expenses$ | (1,569,695) | (2,472,256) | PDF p. 59 |
| Other operating expenses$ | (714,693) | (3,008,163) | PDF p. 59 |
| Finance costs$ | (1,510) | (72,976) | PDF p. 59 |
| Loss before tax$ | (1,944,468) | (4,309,661) | PDF p. 59 |
| Tax expense$ | – | – | PDF p. 59 |
| Loss for the year$ | (1,944,468) | (4,309,661) | PDF p. 59 |
| Other comprehensive income, after tax: Items that may be reclassified subsequently to profit or loss | |||
| Currency translation differences arising from foreign operations$ | 73,886 | 21,358 | PDF p. 59 |
| Other comprehensive income | |||
| Other comprehensive income for the year, net of tax$ | 73,886 | 21,358 | PDF p. 59 |
| Total comprehensive loss for the year$ | (1,870,582) | (4,288,303) | PDF p. 59 |
| Loss attributable to | |||
| Owners of the Company$ | (1,944,468) | (4,309,661) | PDF p. 59 |
| Total comprehensive loss attributable to | |||
| Owners of the Company$ | (1,870,582) | (4,288,303) | PDF p. 59 |
| Loss per share | |||
| – BasicCents | (0.89) | (2.29) | PDF p. 59 |
| – DilutedCents | (0.89) | (2.29) | PDF p. 59 |
Original report: PDF p. 59 ↗
No separate Company-level statement of comprehensive income is presented; only consolidated statement.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2024Share capital ($) | 2024Merger reserve ($) | 2024Share-based payment reserve ($) | 2024Foreign currency translation reserve ($) | 2024Accumulated losses ($) | 2024Total attributable to owners ($) | 2024Non-controlling interests ($) | 2024Total equity ($) | Source |
|---|---|---|---|---|---|---|---|---|---|
| Equity | |||||||||
| At 1 January 2024$ | 23,830,385 | (2,724,770) | 128,702 | 469,269 | (25,354,024) | (3,650,438) | (55,098) | (3,705,536) | PDF p. 60 |
| 2024 movements | |||||||||
| Loss for the year$ | – | – | – | – | (4,309,661) | (4,309,661) | – | (4,309,661) | PDF p. 60 |
| Foreign currency translation differences$ | – | – | – | 21,358 | – | 21,358 | – | 21,358 | PDF p. 60 |
| Total comprehensive income/(loss) for the year$ | – | – | – | 21,358 | (4,309,661) | (4,288,303) | – | (4,288,303) | PDF p. 60 |
| 2024 Transaction with owners, recognised directly in equity | |||||||||
| Issuance of new shares under PSP$ | – | – | 60,000 | – | – | 60,000 | – | 60,000 | PDF p. 60 |
| De-recognition of non-controlling interests$ | – | – | – | – | (55,098) | (55,098) | 55,098 | – | PDF p. 60 |
| Issuance of new shares$ | 2,082,095 | – | – | – | – | 2,082,095 | – | 2,082,095 | PDF p. 60 |
| Total transactions with owners$ | 2,082,095 | – | 60,000 | – | (55,098) | 2,086,997 | 55,098 | 2,142,095 | PDF p. 60 |
| Equity | |||||||||
| At 31 December 2024$ | 25,912,480 | (2,724,770) | 188,702 | 490,627 | (29,718,783) | (5,851,744) | – | (5,851,744) | PDF p. 60 |
Original report: PDF p. 60 ↗
Equity attributable to owners of the Company; all columns in $. Multi-line row labels wrap in source. No separate Company statement of changes in equity is presented.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Share capital ($) | 2025Merger reserve ($) | 2025Share-based payment reserve ($) | 2025Foreign currency translation reserve ($) | 2025Accumulated losses ($) | 2025Total attributable to owners ($) | 2025Non-controlling interests ($) | 2025Total equity ($) | Source |
|---|---|---|---|---|---|---|---|---|---|
| 2025 movements | |||||||||
| Loss for the year$ | – | – | – | – | (1,944,468) | (1,944,468) | – | (1,944,468) | PDF p. 60 |
| Foreign currency translation differences$ | – | – | – | 73,886 | – | 73,886 | – | 73,886 | PDF p. 60 |
| Total comprehensive income/(loss) for the year$ | – | – | – | 73,886 | (1,944,468) | (1,870,582) | – | (1,870,582) | PDF p. 60 |
| 2025 Transaction with owners, recognised directly in equity | |||||||||
| Issuance of new shares under PSP$ | 248,702 | – | (248,702) | – | – | – | – | – | PDF p. 60 |
| Recognition of share based payment$ | – | – | 95,000 | – | – | 95,000 | – | 95,000 | PDF p. 60 |
| Total transactions with owners$ | 248,702 | – | (153,702) | – | – | 95,000 | – | 95,000 | PDF p. 60 |
| Equity | |||||||||
| At 31 December 2025$ | 26,161,182 | (2,724,770) | 35,000 | 564,513 | (31,663,251) | (7,627,326) | – | (7,627,326) | PDF p. 60 |
Original report: PDF p. 60 ↗
Opening balance for 2025 is At 31 December 2024 (see 2024 table). Non-controlling interests were nil at 31 December 2024 and 2025.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025The Group | 2024The Group | Source |
|---|---|---|---|
| Cash Flows from Operating Activities | |||
| Loss before tax$ | (1,944,468) | (4,309,661) | PDF p. 61 |
| Adjustments for | |||
| Amortisation of software development$ | – | 544,371 | PDF p. 61 |
| Crypto assets received as revenue$ | (312,181) | (514,763) | PDF p. 61 |
| Crypto asset payments for expenses$ | 80 | 9,879 | PDF p. 61 |
| Depreciation of right-of-use assets$ | – | 40,874 | PDF p. 61 |
| Depreciation of plant and equipment$ | 2,358 | 5,216 | PDF p. 61 |
| Gain on termination of lease contract$ | – | (866) | PDF p. 61 |
| Gain on disposal of plant and equipment$ | – | (183) | PDF p. 61 |
| Impairment loss on goodwill$ | – | 1,775,102 | PDF p. 61 |
| Impairment loss on other receivables$ | – | 3,918 | PDF p. 61 |
| Impairment loss on right-of-use assets$ | – | 48,247 | PDF p. 61 |
| Impairment loss on software development$ | – | 1,041,496 | PDF p. 61 |
| Loss/(Gain) on disposal of crypto assets$ | 370,999 | (243,890) | PDF p. 61 |
| Plant and equipment written off$ | – | 4,606 | PDF p. 61 |
| Impairment loss/(Reversal of impairment loss) on crypto assets$ | 343,694 | (563,463) | PDF p. 61 |
| Interest expense on lease liabilities$ | 1,510 | 2,766 | PDF p. 61 |
| Interest expense on convertible notes$ | – | 70,210 | PDF p. 61 |
| Unrealised foreign exchange differences$ | (185,520) | 150,082 | PDF p. 61 |
| Cash Flows from Operating Activities | |||
| Operating loss before working capital changes$ | (1,723,528) | (1,936,059) | PDF p. 61 |
| Change in contract liabilities$ | – | (40,807) | PDF p. 61 |
| Change in other receivables$ | (4,626) | 18,269 | PDF p. 61 |
| Change in trade and other payables$ | 403,992 | (24,309) | PDF p. 61 |
| Cash used in operations, representing net cash used in$ | (1,324,162) | (1,982,906) | PDF p. 61 |
| Cash Flows from Investing Activities | |||
| Purchase of plant and equipment$ | – | (6,039) | PDF p. 61 |
| Proceeds from disposal of crypto assets$ | 439,567 | 1,525,751 | PDF p. 61 |
| Proceeds from disposal of plant and equipment$ | – | 183 | PDF p. 61 |
| Net cash generated from investing activities$ | 439,567 | 1,519,895 | PDF p. 61 |
| Cash Flows from Financing Activities | |||
| Proceeds from shareholder’s loan$ | 900,000 | – | PDF p. 61 |
| Advances from director$ | 23,727 | – | PDF p. 61 |
| Repayment of lease liabilities$ | (40,250) | (40,176) | PDF p. 61 |
| Interest paid$ | (1,510) | (2,766) | PDF p. 61 |
| Net cash generated from/(used in) financing activities$ | 881,967 | (42,942) | PDF p. 61 |
| Closing cash | |||
| Net decrease in cash and cash equivalents$ | (2,628) | (505,953) | PDF p. 61 |
| Cash and cash equivalents at beginning of the year$ | 14,324 | 542,857 | PDF p. 61 |
| Effect of exchange rate changes on balances held in foreign currencies$ | 50 | (22,580) | PDF p. 61 |
| Cash and cash equivalents at end of the year$ | 11,746 | 14,324 | PDF p. 61 |
Original report: PDF p. 61 ↗
Note B: In FY2025 the Group acquired crypto assets with aggregate cost of $312,181 (2024: $518,673); sold crypto assets with aggregate cost of $802,558 (2024: $1,291,740); cash receipt of $439,567 (2024: $1,525,751) was received for disposal of crypto assets and offset against other payables of $11,527 (2024: $Nil); partial repayment of advances to third party $116,667 (2024: $Nil).
Note A reconciliation of liabilities from financing activities is on page 62 (not extracted as rows). No Company cash flow statement is presented.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group, FY ended 31 December, S$000 | 2024Group, FY ended 31 December, S$000 | 2023Group, FY ended 31 December, S$000 | 2022Group, FY ended 31 December, S$000 | Source |
|---|---|---|---|---|---|
| Financial Performance | |||||
| RevenueS$000 | 326 | 592 | 1,368 | 3,576 | PDF p. 8 |
| Gross ProfitS$000 | 146 | 392 | 1,143 | 2,835 | PDF p. 8 |
| Net LossS$000 | (1,944) | (4,310) | (1,032) | (12,556) | PDF p. 8 |
| Financial Position | |||||
| Total AssetsS$000 | 496 | 1,512 | 5,639 | 7,539 | PDF p. 8 |
| Non-Current LiabilitiesS$000 | (6,745) | (6,423) | (6,274) | (7,354) | PDF p. 8 |
| Current LiabilitiesS$000 | (1,378) | (941) | (3,070) | (2,885) | PDF p. 8 |
| Financial Ratios | |||||
| Net Liabilities Per Share (in SGD cents)(1)SGD cents | (3.489) | (3.110) | (1.980) | (1.440) | PDF p. 8 |
| Basic and Diluted Loss Per Share (in SGD cents)(2)SGD cents | (0.889) | (2.290) | (0.550) | (6.710) | PDF p. 8 |
Original report: PDF p. 8 ↗
(1) Net liabilities per share is calculated by dividing the net liabilities of the Group by the weighted average number of ordinary share during the financial year.
(2) Basic and diluted earnings per share are calculated by dividing the net loss attributable to owners of the Company by the weighted average number of ordinary share during the financial year.
No dividend row is printed in this table.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group, $ | 2024Group, $ | Source |
|---|---|---|---|
| Loss per share | |||
| Loss attributable to ordinary shareholders of the Company$ | (1,944,468) | (4,309,661) | PDF p. 105 |
| Weighted average number of ordinary shares in issue during the yearshares | 218,640,705 | 187,890,831 | PDF p. 105 |
| Basic loss per share (cents)cents | (0.89) | (2.29) | PDF p. 105 |
| Diluted loss per share (cents)cents | (0.89) | (2.29) | PDF p. 105 |
Original report: PDF p. 105 ↗
Basic earnings per share is calculated by dividing the net loss attributable to owners of the Company by the weighted average number of ordinary shares during the financial year.
For calculation of diluted earnings per share, the unvested PSP share awards are not considered because they are antidilutive. The unvested PSP share awards can potentially dilute basic earnings per share in the future.
Where the money comes from
| Item / unit | 2025Blockchain technology services ($) | 2025Unallocated ($) | 2025Total ($) | 2024Blockchain technology services ($) | 2024Unallocated ($) | 2024Total ($) | Source |
|---|---|---|---|---|---|---|---|
| Operating segments | |||||||
| Revenue$ | 325,615 | – | 325,615 | 592,046 | – | 592,046 | PDF p. 114 |
| Segment results$ | (857,594) | (1,085,364) | (1,942,958) | (2,664,252) | (1,572,433) | (4,236,685) | PDF p. 114 |
| Loss before tax$ | (857,594) | (1,086,874) | (1,944,468) | (2,664,252) | (1,645,409) | (4,309,661) | PDF p. 114 |
| Segment assets$ | 463,260 | 32,582 | 495,842 | 1,470,977 | 40,689 | 1,511,666 | PDF p. 114 |
| Segment liabilities$ | 2,604,119 | 5,519,049 | 8,123,168 | 2,739,182 | 4,624,228 | 7,363,410 | PDF p. 114 |
| Other information | |||||||
| Finance costs$ | – | (1,510) | (1,510) | – | (72,976) | (72,976) | PDF p. 114 |
| Realised foreign exchange loss, net$ | (9,675) | – | (9,675) | (7,636) | (15,491) | (23,127) | PDF p. 114 |
| Unrealised foreign exchange gain, net$ | 55,060 | 133,081 | 188,141 | PDF p. 114 | |||
| Depreciation of plant and equipment$ | (50) | (2,308) | (2,358) | (590) | (4,626) | (5,216) | PDF p. 114 |
| Government grants$ | – | 15,479 | 15,479 | 4,000 | 3,649 | 7,649 | PDF p. 114 |
| Impairment loss on crypto assets$ | (343,599) | (95) | (343,694) | PDF p. 114 | |||
| Loss on disposal of crypto assets$ | (370,999) | – | (370,999) | PDF p. 114 | |||
| Unrealised foreign exchange loss, net$ | (10,605) | (101,088) | (111,693) | PDF p. 114 | |||
| Amortisation of software development$ | (544,371) | – | (544,371) | PDF p. 114 | |||
| Depreciation of right-of-use assets$ | – | (40,874) | (40,874) | PDF p. 114 | |||
| Impairment loss on goodwill$ | (1,775,102) | – | (1,775,102) | PDF p. 114 | |||
| Impairment loss on other receivables$ | (3,918) | – | (3,918) | PDF p. 114 | |||
| Impairment loss on right-of-use assets$ | – | (48,247) | (48,247) | PDF p. 114 | |||
| Impairment loss on software development$ | (1,041,496) | – | (1,041,496) | PDF p. 114 | |||
| Reversal of impairment loss on crypto assets$ | 563,463 | – | 563,463 | PDF p. 114 | |||
| Gain on disposal of crypto assets$ | 243,890 | – | 243,890 | PDF p. 114 | |||
Segment profit before income tax is the performance measure. Group has one operating segment, Blockchain technology services (blockchain agency and consulting; staking services).
Segment profit before income tax is the performance measure.
| Item / unit | 2025The Group ($) | 2024The Group ($) | Source |
|---|---|---|---|
| Revenue | |||
| Total revenue for reportable segments$ | 325,615 | 592,046 | PDF p. 115 |
| Consolidated revenue$ | 325,615 | 592,046 | PDF p. 115 |
| Profit or loss before tax | |||
| Total loss for reportable segments from operations$ | (857,594) | (2,664,252) | PDF p. 115 |
| Government grants$ | 15,479 | 3,649 | PDF p. 115 |
| Foreign exchange gain/(loss), net$ | 133,081 | (116,579) | PDF p. 115 |
| Other income$ | 321 | 866 | PDF p. 115 |
| Depreciation of plant and equipment$ | (2,308) | (4,626) | PDF p. 115 |
| Depreciation of right-of-use assets$ | – | (40,874) | PDF p. 115 |
| Impairment loss on right-of-use assets$ | – | (48,247) | PDF p. 115 |
| Other administrative expenses$ | (1,233,447) | (1,439,598) | PDF p. 115 |
| Consolidated loss before tax$ | (1,944,468) | (4,309,661) | PDF p. 115 |
| Segment assets | |||
| Total assets for reportable segments$ | 463,260 | 1,470,977 | PDF p. 115 |
| Plant and equipment$ | 2,473 | 4,781 | PDF p. 115 |
| Right-of-use assets$ | – | – | PDF p. 115 |
| Intangible assets$ | 627 | 764 | PDF p. 115 |
| Other receivables$ | 21,900 | 27,456 | PDF p. 115 |
| Cash and bank balances$ | 7,582 | 7,688 | PDF p. 115 |
| Consolidated total assets$ | 495,842 | 1,511,666 | PDF p. 115 |
| Segment liabilities | |||
| Total liabilities for reportable segments$ | 2,604,119 | 2,739,182 | PDF p. 115 |
| Trade and other payables$ | 541,932 | 354,461 | PDF p. 115 |
| Lease liabilities$ | 8,917 | 49,167 | PDF p. 115 |
| Loans from shareholders$ | 4,968,200 | 4,220,600 | PDF p. 115 |
| Consolidated total liabilities$ | 8,123,168 | 7,363,410 | PDF p. 115 |
Reconciliation tables share the header '2025 2024 The Group $ $'.
| Item / unit | 2025Singapore ($) | 2025Others ($) | 2025Total ($) | 2024Singapore ($) | 2024Others ($) | 2024Total ($) | Source |
|---|---|---|---|---|---|---|---|
| Geographical segments | |||||||
| Revenue$ | – | 325,615 | 325,615 | 40,807 | 551,239 | 592,046 | PDF p. 116 |
| Non-current assets$ | 2,473 | 417,636 | 420,109 | 4,831 | 1,431,265 | 1,436,096 | PDF p. 116 |
Segment revenue is based on geographical location of customers. Segment assets are based on location of physical assets and the jurisdiction in which other assets such as crypto assets are held or controlled.
Major customers: sales to Nil (2024: 1) customer accounted for Nil% (2024: 100%) of the Group's total revenue from non-digital wallets staking services.
Debt
| Item / unit | 2025$ | 2024$ | Source |
|---|---|---|---|
| Loans from shareholders | |||
| At 1 January$ | 4,220,600 | 4,137,200 | PDF p. 101 |
| Addition$ | 900,000 | – | PDF p. 101 |
| Currency translation differences$ | (152,400) | 83,400 | PDF p. 101 |
| At 31 December$ | 4,968,200 | 4,220,600 | PDF p. 101 |
| Presented as | |||
| Current$ | – | – | PDF p. 101 |
| Non-current$ | 4,968,200 | 4,220,600 | PDF p. 101 |
Loans from NVPL are interest-free and unsecured; repayment extended to after 1 July 2027. Controlling shareholder loans of $1,100,000 and $900,000 are interest free, repayable after 1 July 2027. No bank borrowings are presented.
| Item / unit | 2025$ | 2024$ | Source |
|---|---|---|---|
| Currency denomination | |||
| Singapore dollar$ | 2,400,000 | 1,500,000 | PDF p. 102 |
| United States dollar$ | 2,568,200 | 2,720,600 | PDF p. 102 |
Loans from shareholders are denominated in the following currencies. Total 4,968,200 (2024: 4,220,600).
| Item / unit | 2025$ | 2024$ | Source |
|---|---|---|---|
| Undiscounted lease payments due | |||
| – Year 1$ | 8,981 | 41,760 | PDF p. 100 |
| – Year 2$ | – | 8,981 | PDF p. 100 |
| Lease liabilities | |||
| Less: future finance charges$ | (64) | (1,574) | PDF p. 100 |
| Present value of lease liabilities$ | 8,917 | 49,167 | PDF p. 100 |
| Presented as | |||
| – Non-current$ | – | 8,917 | PDF p. 100 |
| – Current$ | 8,917 | 40,250 | PDF p. 100 |
Interest expense on lease liabilities of $1,510 (2024: $2,766) is recognised within finance costs.
Payout
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Dividend policy | The Company does not have a formal dividend policy. The form, frequency and amount of dividends will depend on the Group’s earnings, financial position, results of operations, capital needs, plans for expansion, and other factors as the Board may deem appropriate. | Company | PDF p. 48 |
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Dividends | There was no dividend declared for FY2025, in view of the loss incurred during the financial year and to conserve cash for the Group’s business operations and growth. | FY2025 (year ended 31 December 2025) | PDF p. 48 |
Extracted from Annual Report 2025 and checked against the cited pages; see the original report for full context.
Auditor’s report
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Audit firm | Foo Kon Tan LLP | Group and Company, FY2025 | PDF p. 57 |
| Engagement partner | Mr Ong Soo Ann | Group and Company, FY2025 | PDF p. 57 |
| Opinion | Our opinion is not modified in respect of this matter. | Group and Company, FY2025 | PDF p. 54 |
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Material Uncertainty Related to Going Concern | These conditions indicate the existence of a material uncertainty that may cast significant doubt on the Group’s and the Company’s ability to continue as a going concern. | Group and Company, 31 December 2025 | PDF p. 54 |
| Going concern assumption (Note 2(a)) | The Group incurred a net loss of $1,944,468 (2024: $4,309,661) and reported net operating cash outflows of $1,324,162 (2024: $1,982,906) for the financial year ended 31 December 2025. | Group, FY2025 with 2024 comparatives | PDF p. 63 |
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Revenue from staking services (digital wallets and staking services) | Revenue from staking services (digital wallets and staking services) | Group, FY2025 | PDF p. 55 |
| Revenue from staking services - Risk | Due to the nature of this revenue source, significant audit effort is required to test the occurrence, accuracy and completeness of the revenue recognised, including the use of Information Technology (“IT”) experts. | Group, FY2025 | PDF p. 55 |
Extracted from Annual Report 2025 and checked against the cited pages; see the original report for full context.
Group and parent company or bank figures are labelled separately. Parentheses indicate negative amounts; a dash and NA retain the report’s notation.
Comparative figures follow Annual Report 2025, including retrospective adjustments. Adjusted and reported earnings may have different definitions; refer to each statement’s notes.
These tables show the available extracted figures. The original annual report contains the full statements, notes and definitions.