TROOPS (TROO) 20-F1 May 232022 FY Annual report (foreign)Financial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	12 Months Ended
Document and Entity Information - shares	Dec. 31, 2022	Dec. 31, 2021	Apr. 28, 2023
Document Information [Line Items]
Document Type	20-F
Document Registration Statement	false
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Entity File Number	1-35016
Entity Registrant Name	TROOPS, Inc.
Entity Incorporation, State or Country Code	E9
Entity Address, Address Line One	21/F, 8 Fui Yiu Kok Street
Entity Address, City or Town	Tsuen Wan
Entity Address, Region	New Territories
Entity Address, Country	HK
Title of 12(b) Security	Ordinary shares, par value $0.004 per share
Trading Symbol	TROO
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding			101,597,998
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Document Accounting Standard	U.S. GAAP
Entity Shell Company	false
Auditor Name	Audit Alliance LLP	Yu Certified Public Accountant, P.C.
Auditor Firm ID	3487	5910
Auditor Location	Singapore	New York, New York
Entity Central Index Key	0001412095
Document Period End Date	Dec. 31, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Business contact member
Document Information [Line Items]
Entity Address, Address Line One	21/F, 8 Fui Yiu Kok Street
Entity Address, City or Town	Tsuen Wan
Entity Address, Region	New Territories
Entity Address, Country	HK
Contact Personnel Name	Chung Hang Lui
City Area Code	852
Local Phone Number	2153-3957

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
CURRENT ASSETS
Cash	$ 2,950	$ 3,480
Accounts receivable, net		8
Loans receivable, net of provision for loan losses of $619 and $2,086, respectively	8,380	2,446
Interest receivable	4	52
Other receivables, prepayments and deposits, net of provision for credit losses of $4 and $5, respectively	205	222
Total current assets	11,539	6,208
Deposits for acquisition of a subsidiary, net of provision for credit losses of $131 and $127, respectively	4,869	4,873
Plant and equipment, net	48,655	50,590
Operating lease right-of-use assets, net	26	39
Intangible assets, net	42	61
Long-term loans receivable, net of $1,453 and $1,472 provision for loan losses	4,170	8,190
Goodwill	385	385
Total non-current assets	58,147	64,138
Total assets	69,686	70,346
CURRENT LIABILITIES
Other payables and accrued liabilities	1,260	1,609
Operating lease liability, current	22	39
Customer deposits	88	0
Taxes payable	721	504
Convertible notes - current	94	38
Total current liabilities	2,185	2,190
LONG-TERM LIABILITIES
Operating lease liability, non-current	4	0
Convertible notes - non-current		87
Non-current Deferred tax liabilities	5,293	5,545
Total non-current liabilities	5,297	5,632
Total liabilities	7,482	7,822
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS' EQUITY
Preferred stock, $0.001 par value, 1,000,000 shares authorized, nil and nil issued and outstanding as of December 31, 2022 and 2021, respectively		0
Ordinary shares, $0.004 par value, 500,000,000 shares authorized, 101,597,998 and 101,597,998 issued and outstanding as of December 31, 2022 and 2021, respectively	406	406
Additional paid-in-capital	135,674	135,643
Retained earnings (deficit)	(73,879)	(73,533)
Accumulated other comprehensive income	3	8
Total TROOPS, Inc. shareholders' equity	62,204	62,524
Total liabilities and shareholders' equity	$ 69,686	$ 70,346

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
CONSOLIDATED BALANCE SHEETS (Parenthetical)
Allowance for loans receivable, net of provision for loan losses	$ 619	$ 2,086
Allowance for other receivables and prepayments, net of provision for credit losses	3	5
Allowance for deposits for acquisition of subsidiary, net provision for credit losses	131	127
Allowance for long-term loans receivable, net	$ 1,453	$ 1,472
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Ordinary shares, par value	$ 0.004	$ 0.004
Ordinary shares, shares authorized	500,000,000	500,000,000
Ordinary shares, shares issued	101,597,998
Ordinary shares, shares outstanding	101,597,998

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
REVENUES	$ 3,875	$ 3,683	$ 4,293
COST OF REVENUES	3,053	3,323	5,359
GROSS PROFIT (LOSS)	822	360	(1,066)
OPERATING EXPENSES:
General and administrative expenses	2,189	2,744	2,617
Impairment (reversal) loss of loan and interest receivable	(973)	1,386	1,980
Impairment loss of other receivables, prepayments and deposits	3	93	39
Impairment loss of intangible assets		202	1,230
Impairment loss of property, plant and equipment	139		970
Impairment loss of goodwill		4,740	59,440
Total operating expenses	1,358	9,165	66,276
OPERATING LOSS FROM CONTINUING OPERATIONS	(536)	(8,805)	(67,342)
OTHER INCOME (EXPENSES):
Interest income	2
Interest expense	(59)	(103)	(1,020)
Other income (expense), net	191	122	128
Loss from disposal of a subsidiary			(2)
Gain on change in fair value of warrant derivative liability		247	4
Total other income (expenses), net	134	266	(890)
LOSS FROM CONTINUING OPERATIONS BEFORE PROVISION FOR INCOME TAXES AND NON-CONTROLLING INTERESTS	(402)	(8,539)	(68,232)
INCOME TAX BENEFIT	56	126	309
NET LOSS FROM CONTINUING OPERATIONS	(346)	(8,413)	(67,923)
PROFIT (LOSS) FROM DISCONTINUED OPERATIONS, NET OF INCOME TAXES			5
NET LOSS	(346)	(8,413)	(67,918)
OTHER COMPREHENSIVE INCOME (LOSS):
Foreign currency translation adjustment	(5)	13	4
Realization of foreign currency translation loss relating to disposal of a subsidiary			1
COMPREHENSIVE LOSS	$ (351)	$ (8,400)	$ (67,913)
LOSS PER SHARE:
Basic	$ (0.01)	$ (0.08)	$ (0.69)
Diluted	$ (0.01)	$ (0.08)	$ (0.69)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES:
Basic	101,597,998	101,563,623	98,110,873
Diluted	101,597,998	101,563,623	98,110,873

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Ordinary shares	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive (Loss) Income	Noncontrolling Interest	Total
BALANCE at Dec. 31, 2019	$ 320	$ 116,943	$ 2,316	$ (10)	$ 196	$ 119,765
BALANCE, shares at Dec. 31, 2019	80,026,647
Shares issued for equity compensation plan	$ 1	679				680
Shares issued for equity compensation plan, shares	80,000
Equity component of the 2018 Notes		31				31
Shares issued on acquisition of subsidiaries	$ 66	14,595				14,661
Shares issued on acquisition of subsidiaries, shares	16,551,581
Shares issued on financing	$ 18	3,582				3,600
Shares issued on financing, shares	4,500,000
Realization of foreign currency translation loss relating to disposal of a subsidiary			(1)	1
Disposal of interest in a subsidiary		(483)	483		$ (196)	(196)
Net loss			(67,918)			(67,918)
Foreign currency translation adjustment				4		4
BALANCE at Dec. 31, 2020	$ 405	135,347	(65,120)	(5)		70,627
BALANCE, shares at Dec. 31, 2020	101,158,228
Shares issued for equity compensation plan	$ 1	262				263
Equity component of the 2018 Notes		34				$ 34
Shares issued on exercise of warrants, shares	439,770					439,770
Net loss			(8,413)			$ (8,413)
Foreign currency translation adjustment				13		13
BALANCE at Dec. 31, 2021	$ 406	135,643	(73,533)	8		62,524
BALANCE, shares at Dec. 31, 2021	101,597,998
Equity component of the 2018 Notes		31				31
Net loss			(346)			(346)
Foreign currency translation adjustment				(5)		(5)
BALANCE at Dec. 31, 2022	$ 406	$ 135,674	$ (73,879)	$ 3		$ 62,204
BALANCE, shares at Dec. 31, 2022	101,597,998

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss from continuing operations	$ (346)	$ (8,413)	$ (67,923)
Adjustments to reconcile net loss to cash used in operating activities:
Depreciation and amortization	1,970	2,134	4,799
Impairment loss of goodwill		4,740	59,440
Impairment loss of property, plant and equipment	139		970
Impairment loss of intangible assets		202	1,230
Deferred income taxes	(252)	(314)	(1,048)
Impairment loss of loan and interest receivables	(973)	1,386	1,980
Impairment loss of other receivables, prepayments and deposits	3	93	39
Gain on change in fair value of warrant derivative liability		(247)	(4)
Share-based compensation expenses		261	680
Gain on disposal of a subsidiary			2
Change in operating assets and liabilities
Accounts receivable	8		4
Loans receivable	(941)	11,695	15,482
Other receivables and prepayments	24	10	6,343
Interest receivable	48	234	1,056
Change in operating lease liabilities			(2)
Customer deposits	88
Other payables and accrued liabilities	(353)	663	(986)
Taxes payable	217	(153)	(423)
Net cash provided by continuing operations	(368)	12,291	21,639
Net cash provided by (used in) by discontinued operations			214
Net cash provided by operating activities	(368)	12,291	21,853
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment	(156)	(402)	(118)
Proceeds from acquisition of a subsidiary			1,009
Proceeds from disposal of a subsidiary			187
Settlement of a promissory note for acquisition of a subsidiary		(5,192)	(23,282)
Deposits paid for acquisition of subsidiaries			(4,966)
Net cash used in continuing operations	(156)	(5,594)	(27,170)
Net cash used in discontinued operations			(247)
Net cash used in investing activities	(156)	(5,594)	(27,417)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayment of bank borrowings		(6,241)	(169)
Proceeds from shares issuance			3,600
Net cash (used in) provided by continuing operations		(6,241)	3,431
Net cash (used in) provided by financing activities		(6,241)	3,431
EFFECT OF EXCHANGE RATE ON CASH	(6)	(4)
INCREASE (DECREASE) IN CASH	(530)	452	(2,133)
Cash and cash equivalent, beginning of year	3,480	3,028	5,161
Cash and cash equivalent, end of year	$ 2,950	3,480	3,028
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash paid for interest		3	206
Cash paid for income taxes		$ 342	1,163
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES
Common stock issued for acquisition of subsidiaries			$ 14,661

Organization and description of

Organization and description of business	12 Months Ended
Organization and description of business	Dec. 31, 2022
Organization and description of business
Organization and description of business	Note 1 - Organization and description of business TROOPS, Inc. (the “Company” or “TROOPS” or “we”, “our” or “us”) was incorporated under Cayman Islands’ laws on July 18, 2007. It was previously named SGOCO Group, Ltd. and before that, SGOCO Technology, Ltd., and prior to the Acquisition was named Hambrecht Asia Acquisition Corp. The Company was formed as a blank check company for the purpose of acquiring one or more operating businesses in the People's Republic of China (the “PRC”) through a merger, stock exchange, asset acquisition or similar business combination or control through contractual arrangements. The Company completed its initial public offering (“IPO”) of units consisting of one ordinary share and one warrant to purchase one ordinary share in March 12, 2008. On March 12, 2010, the Company completed a share-exchange transaction with Honesty Group Holdings Limited (“Honesty Group”) and its shareholders, and Honesty Group became a wholly-owned subsidiary of the Company (the “Acquisition”). On the closing date, the Company issued 3,575,000 of its ordinary shares to Honesty Group in exchange for 100% of the capital stock of Honesty Group. Prior to the share-exchange transaction, the Company had 5,299,126 ordinary shares issued and outstanding. After the share-exchange transaction, the Company had 4,023,689 ordinary shares issued and outstanding. The share-exchange transaction was accounted for as reorganization and recapitalization of Honesty Group. As a result, the unaudited condensed consolidated financial statements of the Company (the legal acquirer) were, in substance, those of Honesty Group (the accounting acquirer), with the assets and liabilities, and revenues and expenses, of the Company being included effective from the date of the share-exchange transaction. There was no gain or loss recognized based on the transaction. The historical financial statements for periods prior to March 12, 2010 are those of Honesty Group, except that the equity section and earnings per share have been retroactively restated to reflect the reorganization and recapitalization. SGOCO International (HK) Limited, a limited liability company registered in Hong Kong, or “SGOCO International,” is a wholly owned subsidiary of TROOPS. On February 22, 2011, SGO Corporation (“SGO”) was established in Delaware USA. On March 14, 2011, SGOCO International purchased 100% of the outstanding shares of common stock of SGO. SGO was founded for the purpose of marketing, sales and distribution of TROOPS’s high quality LCD/LED products in America. SGO commenced sales in June 2012. On July 28, 2011, SGOCO (Fujian) Electronic Co., Ltd. (“SGOCO (Fujian)”), a limited liability company under the laws of the PRC was established by SGOCO International for the purpose of conducting LCD/LED monitor and TV product-related design, brand development and distribution. On December 26, 2011, SGOCO International established a wholly owned subsidiary, Beijing SGOCO Image Technology Co. Ltd. (“Beijing SGOCO”), a limited liability company under the laws of the PRC for the purpose of conducting LCD/LED monitor, TV product-related and application-specific product design, brand development and distribution. On November 14, 2013, SGOCO International established a wholly owned subsidiary, SGOCO (Shenzhen) Technology Co., Ltd. (“SGOCO Shenzhen”), a limited liability company under the laws of the PRC for the purpose of conducting LCD/LED monitor and TV product-related and application-specific product design, brand development and distribution. In May 2014, the Company relocated its corporate headquarters from Beijing, China to Hong Kong, China. On December 24, 2014, the Company entered into a Sale and Purchase Agreement to sell its 100% equity ownership interest in SGOCO (Fujian) to Apex Flourish Group Limited (“Apex”), which is an independent third party with interests in real estate and forestry products. Apex previously purchased Honesty Group Holdings Limited, TROOPS’s prior manufacturing business, on November 15, 2011. The Company considers December 31, 2014 as the disposal effective date since the operational and management control over SGOCO (Fujian) was shifted from TROOPS to Apex on December 31, 2014. The Sale of SGOCO (Fujian) allowed TROOPS to reform the business and reduce the reliance of traditional flat panel LED and LCD monitor products. It provided greater flexibility and scalability for the Company’s business model, which enables the Company to focus on finding new business acquisition opportunities and exploring new products. The sales price for all the equity of SGOCO (Fujian) is equivalent to the net asset value of SGOCO (Fujian) on December 31, 2014. The final amount is $11.00 million. On December 28, 2015, SGOCO International entered into a Share Sale and Purchase Agreement for the Sale and Purchase of the Entire Issued Share Capital of Boca International Limited (the “Agreement”) with Richly Conqueror Limited, a company incorporated under the laws of the British Virgin Islands (the “Vendor”). Pursuant to the Agreement, SGOCO International acquired 100% of the issued share capital of Boca International Limited (“Boca”), a private company incorporated in Hong Kong, from its sole legal and beneficial owner - Richly Conqueror Limited at a consideration of $52.00 million in cash, plus up to 19.9% or 3.40 million newly issued ordinary shares (the “Shares”) of the Company. In March, 2016, the acquisition of Boca completed and SGOCO International fully paid $52.00 million plus 1,162,305 post-split shares of common stock of the Company and received 100% ownership of Boca. Boca designs, develops and manufactures Phase Change Material (PCM-TES) storage system and applies them on cooling and heating system. Boca’s PCM-TES storage system (the "System") applies real-time electricity demand peak management which shifts on-peak chiller plant load to off-peak and increases chiller efficiency by optimization controls at any time. The System could reduce electricity consumption by approximately 50% during all running time and decrease 2/3 of central air conditioning running cost due to lower tariff rate during off-peak and higher efficiency at all time. The System can be used in all existing and new buildings and is environmentally friendly with a life of more than ten years. The System fully supports energy saving to help control the greenhouse effect and achieve maximum economic benefit for customers. The Company has effected a 1-for-4 On August 10, 2016, the shareholders of the Company approved an increase of the authorized ordinary shares of the Company from 12,500,000 shares to 50,000,000 shares at the annual shareholders meeting. On April 28, 2017, SGOGO International (HK) Limited, a wholly-owned subsidiary of TROOPS, entered into a Share Sale and Purchase Agreement with Full Linkage Limited pursuant to which SGOCO International acquired all the issued and outstanding capital stock of CSL, a company incorporated in Hong Kong at a consideration of $32,600,000 plus 1,500,000 of the Company ordinary shares. The acquisition of CSL was completed on May 10, 2017. CSL is principally engaged in Virtual Reality device and technologies research and development. Its development centre and main researchers are in Shenzhen China On December 15, 2017, TROOPS formed Giant Connection Limited, a limited liability company registered in the Republic of Seychelles. On December 22, 2017, Giant Connection Limited, a wholly-owned subsidiary of TROOPS, completed the acquisition of GCL contemplated by the Share Exchange Agreement entered into by and between the parties in consideration for HK$19.60 million ($2.35 million), which was satisfied by the allotment and issuance of 2,220,283 ordinary shares of the Company. The principal activity of GCL is money lending in Hong Kong. GCL is a Hong Kong incorporated company which has a Money Lenders License for carrying on money lending business in Hong Kong. GCL has been providing high-quality personal loans and corporate loans to its customers since 2016. On March 8, 2018, the Company’s wholly-owned subsidiary, Giant Connection closed a Share Exchange Agreement with Vagas Lane Limited for the purchase and sale of 11 Hau Fook Street in consideration for HK$26.10 million ($3.35 million), which was satisfied by the allotment and issuance of 2,935,222 ordinary shares. 11 Hau Fook Street is an investment holding company which owns two properties located at No. 11 Hau Fook Street, Tsim Sha Tsui, Kowloon, Hong Kong. On May 17, 2018, the Company entered into a Sale and Purchase Agreement to sell its 100% ownership interest in SGOCO Shenzhen to Realm Valley Limited, a company incorporated in British Virgin Islands, for $1 in total consideration. On June 7, 2018, the Company’s wholly-owned subsidiary, Giant Connection closed a Share Exchange Agreement for the entire issued share capital of Paris Sky. In consideration for (1) the allotment of 3,889,050 ordinary shares of the Company to Leung Iris Chi Yu (“Ms. Leung”), at an initial agreed value of HK$30.33 million ($3.89 million), the fair value of the 3,889,050 ordinary shares was $4.78 million, which was calculated based on the stock price of $1.23 per share on June 7, 2018, (2) the transfer of a 49% interest in CSL at an agreed value of HK$126.13 million ($16.17 million), (3) the transfer of a 49% interest in Boca at an agreed value of HK$184.84 million ($23.70 million), and (4) the issuance of a promissory note to Ms. Leung in the principal amount of HK$27.10 million ($3.47 million), bearing a 8% interest per annum, by Giant Connection, the Company acquired 100% of the issued share capital of Paris Sky, an investment holding company which, through its wholly owned subsidiary, Suns Tower, owns a property located at No. 8 Fui Yiu Kok Street, Tsuen Wan, New Territories, Hong Kong. The fair value of this property was $53.00 million on June 7, 2018. The Company repaid the promissory note in full on August 22, 2018. In the fourth quarter of 2018, management committed a plan to dispose of its remaining 51% equity interests in CSL and initiated efforts to locate buyers. On April 25, 2019, the Company entered into a Letter of Intent to sell to another individual, Ho Pui Lung 5,100 shares in the share capital of CSL, at a consideration of HK$99.45 million ($12.75 million). On September 20, 2019, the Company entered into a Share Exchange Agreement for the disposal of 5,100 shares in the share capital of CSL, being 51% of its entire issued share capital, and its fully owned subsidiary - Shen Zhen Provizon Technology Co., Limited, to Ho Pui Lung at an agreed value of HK$99.45 million ($12.75 million). Upon the satisfactory completion of the closing conditions contained in the Agreement, the operational and management control over CSL were shifted from TROOPS to Ho Pui Lung on December 31, 2019 (Note 3). On June 26, 2018, the shareholders of the Company approved to increase the authorized share capital of the Company from $201,000 divided into 50,000,000 ordinary shares of par value $0.004 and 1,000,000 preferred shares of par value $0.001 each to $2,010,000 by the creating of 450,000,000 ordinary shares of par value $0.004 each and 9,000,000 preferred shares of par value $0.001 each such that the share capital of the Company shall be divided into 500,000,000 ordinary shares of par value $0.004 and 10,000,000 preferred shares of par value $0.001 each. On February 5, 2019, the Company’s wholly-owned subsidiary, Paris Sky entered into a Share Exchange Agreement with Kwok Man Yee Elvis for the entire issued On December 23, 2019, the Company entered into a Share Exchange Agreement with Victor Or (“Mr. Or”) for the purchase and sale of GFS. GFS is a private company incorporated in Samoa provides an online financial marketplace connecting financial institutions and users worldwide via its unique mobile application which features state-of-the-art functions to boost financial accessibility to financial and insurance products and services. At the heart of its digital platform is the Company’s dedication to drive innovation, create value to businesses and individual users alike by (i) minimizing transaction risks, (ii) lowering transaction costs, (iii) reducing and detecting fraud, (iv) saving time, (v) increasing access and equality. The Company intends to integrate GFS into its existing platform to support its current business lines. The total consideration to be paid for GFS is $64.34 million, which shall be satisfied by (a) the allotment of 15,992,000 shares of the Company to be issued to Mr. Or on the closing date, representing 19.9% of the total issued and outstanding shares of the Company as of the date of the Agreement, (b) the payment of $21.79 million in cash, and (c) the balance satisfied by issuance of a promissory note to Mr. Or. On January 31, 2020, TROOPS, Inc. closed its acquisition of GFS (Note 7(f)). By March 30, 2021, the Company repaid the promissory note in full by several payments. On August 31, 2020, the Company’s wholly-owned subsidiary, SGOCO International entered into a Sale and Purchase Agreement for the disposal of 94 shares in the share capital of Boca International Limited, being 51% of its entire issued share capital. Upon the satisfactory completion of the closing conditions contained in the Agreement, the disposal shall be consummated in consideration for the transfer of a 51% interest in Boca International Limited to Wong Yiu Tong at an agreed value of HK$1.46 million ($0.19 million). On September 28, 2020, the Company’s wholly-owned subsidiary, GFS closed a Share Exchange Agreement for the entire issued share capital of Apiguru. The acquisition was consummated in consideration for a total of AUD0.70 million ($0.59 million), which was satisfied by the allotment and issuance of 559,581 ordinary shares of the Company. Apiguru is a technology consulting company specialising in Application Programming Interface (API) strategy and implementation enabling state-of-the-art market fit hypothesis that drives businesses forward. Through providing API consulting services, Apiguru helps businesses increasing effectivity, optimizing productivity, and developing integration channels that leverage opportunities for generating new revenue sources. GFS aims to serve clients from different sectors with distinctive needs. Along together with API specialization, Apiguru helps GFS to integrate with various global platforms to expand customer base.

Summary of significant accounti

Summary of significant accounting policies	12 Months Ended
Summary of significant accounting policies	Dec. 31, 2022
Summary of significant accounting policies
Summary of significant accounting policies	Note 2 – Summary of significant accounting policies Basis of presentation and principle of consolidation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and include the financial statements of the Company and all its majority-owned subsidiaries that require consolidation. Intercompany transactions and balances have been eliminated in the consolidation. The following entities were consolidated as of December 31, 2022: Place incorporated Ownership percentage TROOPS, Inc. Cayman Islands Parent Company SGOCO International (HK) Limited Hong Kong 100 % Beijing SGOCO Image Technology Co., Ltd. Beijing, China 100 % Giant Financial Services Limited (“GFS”) Samoa 100 % Apiguru Pty Ltd. (“Apiguru”) Australia 100 % Giant Connection Limited Republic of Seychelles 100 % Giant Credit Limited (“GCL”) Hong Kong 100 % 11 Hau Fook Street Limited Hong Kong 100 % Paris Sky Limited Marshall Islands 100 % Vision Lane Limited British Virgin Islands 100 % Suns Tower Limited (Formerly known as First Asia Tower Limited) (“Suns Tower”) Hong Kong 100 % First Asia Finance Limited (“FAF”) Hong Kong 100 % Use of estimates Preparing consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions affecting the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The more significant areas requiring the use of management’s estimates and assumptions include, but are not limited to, revenue recognition, the collectability of its receivables, the fair value and accounting treatment of certain financial instruments, the valuation and recognition of share-based compensation arrangements, fair value of assets and liabilities acquired in business combination, useful life of intangible assets, assessment of impairment of long-lived assets, intangible assets and goodwill , deferred tax liability and deferred tax valuation allowance. Management bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Accordingly, actual results may differ significantly from these estimates. Business combinations The Company accounts for its business combinations using the acquisition method of accounting in accordance with Accounting Standards Codification ("ASC") 805 "Business Combinations." The cost of an acquisition is measured as the aggregate of the acquisition date fair values of the assets transferred and liabilities incurred by the Company to the sellers and equity instruments issued. Transaction costs directly attributable to the acquisition are expensed as incurred. Identifiable assets and liabilities acquired or assumed are measured separately at their fair values as of the acquisition date, irrespective of the extent of any non-controlling interests. The excess of (i) the total costs of acquisition, fair value of the non-controlling interests and acquisition date fair value of any previously held equity interest in the acquiree over (ii) the fair value of the identifiable net assets of the acquiree is recorded as goodwill. If the cost of acquisition is less than the fair value of the net assets of the subsidiary acquired, the difference is recognized directly in the consolidated statements of comprehensive income. During the measurement period, which can be up to one year from the acquisition date, the Company may record adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the values of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the consolidated statements of comprehensive income. In a business combination achieved in stages, the Company re-measures the previously held equity interest in the acquiree immediately before obtaining control at its acquisition-date fair value and the re-measurement gain or loss, if any, is recognized in the consolidated statements of comprehensive income. When there is a change in ownership interests that result in a loss of control of a subsidiary, the Company deconsolidates the subsidiary from the date control is lost. Any retained non-controlling investment in the former subsidiary is measured at fair value and is included in the calculation of the gain or loss upon deconsolidation of the subsidiary. For the Company’s majority-owned subsidiaries, a non-controlling interest is recognized to reflect the portion of their equity which is not attributable, directly or indirectly, to the Group. “Net income (loss)” on the consolidated income statements includes the “net loss attributable to non-controlling interests”. The cumulative results of operations attributable to non-controlling interests are also recorded as non-controlling interests in the Company’s consolidated balance sheets. Discontinued operations A component of a reporting entity or a group of components of a reporting entity that are disposed or meet the criteria to be classified as held for sale, such as the management, having the authority to approve the action, commits to a plan to sell the disposal group, should be reported in discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results. Discontinued operations are reported when a component of an entity comprising operations and cash flows that can be clearly distinguished, operationally and for financial reporting purposes, from the rest of the entity is classified as held for disposal or has been disposed of, if the component either (1) represents a strategic shift or (2) have a major impact on an entity’s financial results and operations. In the consolidated statement of operations, result from discontinued operations is reported separately from the income and expenses from continuing operations and prior periods are presented on a comparative basis. Assets and liabilities of the discontinued operations are classified as held for sale when the carrying amounts will be recovered principally through a sale transaction. When dispose a subsidiary, the Company deconsolidates the subsidiary from the date control is lost. Any retained non-controlling investment in the former subsidiary is measured at fair value and is included in the calculation of the gain or loss upon deconsolidation of the subsidiary. Plant and equipment Plant and equipment is stated at cost less accumulated depreciation and accumulated impairment losses, if any. Expenditures for maintenance and repairs are charged to earnings as incurred. Major additions are capitalized. When assets are retired or otherwise disposed of, the related cost and accumulated depreciation are removed from the respective accounts, and any gain or loss is included in operations. Depreciation of plant and equipment is provided using the straight-line method for substantially all assets with estimated lives as follows: Leasehold land and buildings Leasehold land and buildings are depreciated over the shorter of the unexpired term of lease and their estimated useful lives, being no more than 50 years Machinery and equipment 4- 10 Leasehold improvements 5 years Vehicles and office equipment 4- 5 Construction in progress represents capital expenditures for direct costs of construction or acquisition and the interest expenses directly related to the construction. Capitalization of these costs ceases and the construction in progress is transferred to the appropriate category of property, plant and equipment when substantially all the activities necessary to prepare the assets for their intended use are completed. Construction in progress is not depreciated. Intangible assets Intangible assets acquired through business acquisitions are recognized as assets separate from goodwill if they satisfy either the "contractual-legal" or "separability" criterion. Purchased intangible assets and intangible assets arising from the acquisitions of subsidiaries are recognized and measured at fair value upon acquisition. Separately identifiable intangible assets that have determinable lives continue to be amortized over their estimated useful lives using the straight-line method as follows: Trademarks of GFS 10 years Service Contracts of GFS 1 year Non-competition agreements of Apiguru 3 years Separately identifiable intangible assets to be held and used are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. Determination of recoverability is based on an estimate of undiscounted future cash flows resulting from the use of the asset and its eventual disposition. Measurement of any impairment loss for identifiable intangible assets is based on the amount by which the carrying amount of the assets exceeds the fair value of the assets. Goodwill Goodwill represents the excess of the purchase consideration over the fair value of the identifiable tangible and intangible assets acquired and liabilities assumed of the acquired entity as a result of the Company’s acquisitions of interests in its subsidiaries. Goodwill is not amortized but is tested for impairment on an annual basis, or more frequently if events or changes in circumstances indicate that it might be impaired. The Company first assesses qualitative factors to determine whether it is necessary to perform the two-step quantitative goodwill impairment test. In the qualitative assessment, the Company considers primary factors such as industry and market considerations, overall financial performance of the reporting unit, and other specific information related to the operations. Based on the qualitative assessment, if it is more likely than not that the fair value of each reporting unit is less than the carrying amount, the quantitative impairment test is performed. The Company annually, or more frequently if the Company believes indicators of impairment exist, reviews the carrying value of goodwill to determine whether impairment may exist. In performing the two-step quantitative impairment test, the first step compares the fair values of each reporting unit to its carrying amount, including goodwill. If the fair value of each reporting unit exceeds its carrying amount, goodwill is not considered to be impaired and the second step will not be required. If the carrying amount of a reporting unit exceeds its fair value, the second step compares the implied fair value of goodwill to the carrying value of a reporting unit’s goodwill. The implied fair value of goodwill is determined in a manner similar to accounting for a business combination with the allocation of the assessed fair value determined in the first step to the assets and liabilities of the reporting unit. The excess of the fair value of the reporting unit over the amounts assigned to the assets and liabilities is the implied fair value of goodwill. This allocation process is only performed for the purposes of evaluating goodwill impairment and does not result in an entry to adjust the value of any assets or liabilities. An impairment loss is recognized for any excess in the carrying value of goodwill over the implied fair value of goodwill. Application of a goodwill impairment test requires significant management judgment, including the identification of reporting units, assigning assets, liabilities and goodwill to reporting units, and determining the fair value of each reporting unit. Goodwill arises from our two reporting units: the financial technology solutions and services and the money lending services. The Company performs its annual impairment tests on December 31 of each year. Warrant liability For warrants that are not indexed to the Company’s stock, the Company records the fair value of the issued warrants as a liability at each balance sheet date and records changes in the estimated fair value as a non-cash gain or loss in the consolidated statement of operations and comprehensive income. The warrant liability is recognized in the balance sheet at the fair value (level 3). The fair value of these warrants has been determined using the Monte-Carlo simulation model. The Monte-Carlo simulation model provides for assumptions regarding volatility, call and put features and risk-free interest rates within the total period to maturity. Impairment of long-lived assets other than goodwill The Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to the future undiscounted net cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. Restricted cash The Company adopted Accounting Standards Update (“ASU”) No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash, (“ASU 2016-18”), effective January 1, 2018 using the retrospective transition method and included all restricted cash with cash and cash equivalent when reconciling beginning-of-period and end-of-period total amounts presented in the consolidated statements of cash flows. The Company has none of restricted cash as of December 31, 2022 and 2021. Accounts receivable Receivables include trade accounts due from customers and other receivables such as cash advances to employees, related parties and third parties and advances to suppliers. Management reviews the composition of accounts receivable and analyzes historical bad debts, customer concentration, customer credit worthiness, current economic trends and changes in customer payment patterns to determine if the allowance for doubtful accounts is adequate. An estimate for doubtful accounts is made when collection of the full amount is no longer probable. Delinquent account balances are written-off after management has determined that the likelihood of collection is not probable and known bad debts are written off against the allowance for doubtful accounts when identified. As of December 31, 2022 and 2021, the Company determined that no allowance was necessary. Other receivables , prepayments and deposits Other receivables and prepayments primarily include rental deposit, utilities deposit, prepaid employees’ compensation. Management reviews the composition of other receivables and prepayment and determines if an allowance for doubtful accounts is needed. A provision for doubtful accounts is made when collection of the full amount is no longer probable. As of December 31, 2022 and 2021 there was $135 and $132 allowance for uncollectible other receivables, prepayments and deposits, respectively. Management believes that the remaining other receivables and prepayments are collectible. Loans receivables, net Loans receivable primarily represent loan amounts due from customers. Loans receivable are recorded at unpaid principal balances net of provision that reflects the Company’s best estimate of the amounts that will not be collected. Management anticipates no significant early settlement of loans receivable as of reporting date. As of December 31, 2022 and 2021, there was $2,072 and $3,558 allowance for uncollectible loan receivables, respectively. Management believes that the remaining accounts receivable are collectible. Provision for loan losses The provision for loan losses is increased by charges to income and decreased by charge offs (net of recoveries). Recoveries represent subsequent collection of amounts previously charged-off. The increase in provision for loan losses is the netting effect of “reversal” and “provision” for both business and personal loans. If the ending balance of the provision for loan losses after any charge offs (net of recoveries) is less than the beginning balance, it will be recorded as a “reversal”; if it is larger, it will be recorded as a “provision” in the provision for loan loss. The netting amount of the “reversal” and the “provision” is presented in the statements of comprehensive loss. The provision consists of specific and general components. The specific component consists of the amount of impairment related to loans that have been evaluated on an individual basis, and the general component consists of the amount of impairment related to loans that have been evaluated on a collective basis. Loans are considered impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts when due according to the contractual terms of the loan agreement. Loans for which the terms have been modified resulting in a concession, and for which the borrower is experiencing financial difficulties, are considered troubled debt restructurings (“TDRs”). The Company recognizes a charge-off when management determines that full repayment of a loan is not probable. The primary factor in making that determination is the potential outcome of a lawsuit against the delinquent debtor. The Company will recognize a charge-off when the Company loses contact with the delinquent borrower for more than one year or when the court rules against the Company to seize the collateral asset of the delinquent debt from either the guarantor or borrower. In addition, when the recoverability of the delinquent debt is highly unlikely, the senior management team will go through a stringent procedure to approve a charge-off. Management estimates the provision balance required using past loan loss experience, information about specific borrower situations and estimated collateral values, economic conditions, and other factors. Allocations of the provision may be made for specific loans, but the entire provision is available for any loan that, in management’s judgment, should be charged-off. The provision for loan losses is maintained at a level believed to be reasonable by management to absorb probable losses as of each balance sheet date. The provision is based on factors such as an assessment of individual loans and actual loss. The Company evaluates its provision for loan losses on a quarterly basis or more often as necessary. Interest receivable Interest receivable are accrued and credited to income as earned but not received. The Company determines a loan past due status by the number of days that have elapsed since a borrower has failed to make a contractual interest or principal payment. Accrual of interest is generally discontinued when reasonable doubt exists as to the full, timely collection of interest or principal. Additionally, any previously accrued but uncollected interest is reversed. Subsequent recognition of income occurs only to the extent payment is received, subject to management’s assessment of the collectability of the remaining interest and principal. Loans are generally restored to an accrual status when it is no longer delinquent and collectability of interest and principal is no longer in doubt and past due interest is recognized at that time. Fair value of financial instruments In August 2018, the FASB issued ASU 2018-13, "Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement" ("ASU 2018-13"). ASU 2018-13 removes, modifies and adds certain disclosure requirements in Topic 820 "Fair Value Measurement". ASU 2018-13 eliminates certain disclosures related to transfers and the valuations process, modifies disclosures for investments that are valued based on net asset value, clarifies the measurement uncertainty disclosure, and requires additional disclosures for Level 3 fair value measurements. ASU 2018-13 is effective for the Company for annual and interim reporting periods beginning July 1, 2020. The Company does not believe the adoption of this ASU will have a material effect on the Company's consolidated financial statements. The Company’s financial instruments primarily consist of cash and cash equivalents, loans receivable, interest receivable, accounts receivable, accounts payable, other receivables, other payables and accrued liabilities, loans, customer deposits and convertible notes. As of the balance sheet dates, the estimated fair value of these financial instruments were not materially different from their carrying values as presented due to the short maturities of these instruments and that the interest rates on the borrowings approximate those that would have been available for loans for similar remaining maturity and risk profile at the respective reporting periods. The fair value measurement accounting standard defines fair value, establishes a three-level valuation hierarchy for disclosures of fair value measurement and enhances disclosure requirements for fair value measures. The three levels are defined as follows: ● Level 1 ● Level 2 ● Level 3 The following table sets forth by level within the fair value hierarchy our financial assets and liabilities that were accounted for at fair value on a recurring basis: Carrying Value at December 31, Fair Value Measurement at 2022 December 31, 2022 Level 1 Level 2 Level 3 Warrant derivative liability $ — $ — $ — $ — A summary of changes in Warrant derivative liability for the years ended December 31, 2021 and 2020 was as follows: Amount Balance at January 1, 2020 $ 253 Change in fair value of warrant derivative liability (4) Balance at December 31, 2020 249 Change in fair value of warrant derivative liability (249) Balance at December 31, 2021 $ — The fair value of the outstanding warrants was calculated using the Monte-Carlo simulation Model with the following assumptions at inception and on subsequent valuation date: Warrants December 31, 2020 Market price per share (USD/share) $ 1.45 Exercise price (USD/share) 1.00 Risk free rate 0.07 % Dividend yield — % Expected term/Contractual life (years) 0.26 Expected volatility 64.06 % Comprehensive income U.S. GAAP generally requires that recognized revenue, expenses, gains and losses be included in net income or loss. Although certain changes in assets and liabilities are reported as separate components of the equity section of the consolidated balance sheet, such items, along with net income, are components of comprehensive income or loss. The components of other comprehensive income or loss consist of foreign currency translation adjustments net of realization of foreign currency translation gain relating to disposal of subsidiaries. Revenue recognition The Company adopted Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASC 606”) from January 1, 2018, using the modified retrospective method. Revenues for the years ended December 31, 2022, and 2021 and 2020 were presented under ASC 606, and revenues for the year ended December 31, 2017 was not adjusted and continue to be presented under ASC Topic 605, Revenue Recognition. There was no impact on the Company’s opening balance of retained earnings as of January 1, 2018. Pursuant to ASC606-10-15-2, the interest income generated by the Company is scoped out of ASC606. In accordance with ASC 606, revenues are recognized when control of the promised goods or services is transferred to the Company’s customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. In determining when and how much revenue is recognized from contracts with customers, the Company performs the following five-step analysis: (1) identify the contract(s) with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; (5) recognize revenue when (or as) the entity satisfies a performance obligation. Revenues are recognized when control of the promised goods or services is transferred to the customers, which may occur at a point in time or over time depending on the terms and conditions of the agreement, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. Financial technology solutions and services The Company provides SaaS and app development service to its customers to deploy the Company’s online platform, which may occur over time depending on the terms and conditions of the agreement, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. Service income from project-based consulting services is recognized based on the output methods, including surveys of performance completed to date or milestones reached of each phase only when the Company has an enforceable right to payment for performance completed to date. Maintenance and support type service income is recognized separately from the main contract since such service was not treated as performance obligation of the contract. Energy saving services Boca enters into a ten-year contract with a customer to provide air conditioning to certain office buildings using its proprietary Phase Change Material Thermal Energy Storage System together with Ultra-High Efficiency Boca Hybrid Power Chiller Plant (the “Plant”). Boca is entitled to all actual electricity running cost saving in 0% to 40% in whole on a quarterly basis, net of a rebate of 2% to 20% depending on the actual electricity running cost saving. Boca accounts for the series of distinct services provided over the ten-year contract as a single performance obligation satisfied over time. Boca recognizes revenues, being entitlement to actual electricity running cost saving achieved, net of rebates, immediately as it relates to distinct services that have already been performed. As of August 31, 2020, operations of Boca to be disposed of were reported as discontinued operations. Accordingly, revenues related to Boca have been reclassified in the consolidated financial statements as discontinued operations for all periods presented. Interest on loans receivable Interest on loans receivable is accrued monthly in accordance with their contractual terms and recorded in accrued interest receivable. The Company does not charge prepayment penalties. Additionally, any previously accrued but uncollected interest is reversed and accrual is discontinued, when reasonable doubt exists as to the full, timely collection of interest or principal. Interest income on impaired loans receivable is recorded when cash payment for interest is received by the Company. Property lease and management Minimum contractual rental income related to property leases are recognized on a straight-line basis over the terms of the respective leases. Straight-line rental revenue commences when the tenant assumes control of the leased premises. In accordance with the Company’s standard lease terms, rental payments are generally due on a monthly basis. Tenant recovery revenue includes payments from tenants as reimbursements for management fees and utilities, etc., which are recognized when the related expenses are incurred. Rental from office lease and tenant recovery revenue together is recorded as “Property lease and management.” Below is the summary presenting the Company’s revenues from continuing operation disaggregated by products and services and timing of revenue recognition: Year ended December 31, Revenue by recognition over time 2022 2021 2020 Revenue by recognition over time $ 3,875 $ 3,683 $ 4,293 $ 3,875 3,683 $ 4,293 Year ended December 31, Revenue by major product line 2022 2021 2020 Interest on loans $ 2,451 $ 1,673 $ 1,667 Property lease and management 1,106 1,068 1,130 Financial technology solutions and services 318 942 1,496 $ 3,875 3,683 $ 4,293 Contract Balances For the years ended December 31, 2022 and 2021, the Company did not have any significant incremental costs of obtaining contracts with customers incurred and/or costs incurred in fulfilling contracts with customers within the scope of ASC Topic 606, that shall be recognized as an asset and amortized to expenses in a pattern that matches the timing of the revenue recognition of the related contract. Other than the interest receivables of the 180-day loans held by the Company which are accrued by the Company but unbilled until the loans mature, amounted to $nil and $nil as of December 31, 2022 and 2021, respectively. The Company does not have any other contract assets (unbilled receivables) since revenue is recognized when the performance obligation is fulfilled and the payment from customers is not contingent on a future event. Advances received from customers related to unsatisfied performance obligations are recorded as contract liabilities (advance from customers), which will be recognized as revenues upon the satisfaction of performance obligations through the transfer of related promised goods and services to customers. The Company’s contract liabilities consist of rental receipt in advance related to rent paid in advance for leasing office. Below is the summary presenting the movement of the Company’s contract liabilities for the years ended December 31, 2022, 2021 and 2020: Rental receipt in advance Balance as of January 1, 2020 $ 8 Revenue recognized from beginning contract liability balance (8) Advances received from customers related to unsatisfied performance obligations 3 Balance as of December 31, 2020 $ 3 Revenue recognized from beginning contract liability balance (3) Advances received from customers related to unsatisfied performance obligations 7 Balance as of December 31, 2021 $ 7 Revenue recognized from beginning contract liability balance (7) Advances received from customers related to unsatisfied performance obligations 10 Balance as of December 31, 2022 $ 10 The contract liabilities were grouped into other payables and accrued liabilities (note 14). Allocation to Remaining Performance Obligations The Company has elected to apply the practical expedient in paragraph ASC Topic 606-10-50-14 and did not disclose the information related to transaction price allocated to the performance obligations that are unsatisfied or partially unsatisfied as of December 31, 2022, because either the performance obligation of the Company’s contracts with customers has an original expected duration of one year or less or the Company has a right to consideration from a borrower or a customer in an amount that corresponds directly with the value to the borrower or the customer of the Company’s performance completed to date, therefore the Company may recognize revenue in the amount to which the Company has a right to invoice or collect. Income taxes The Company accounts for income taxes in accordance FASB ASC Section 740. The Company is subject to the tax laws of the PRC and Hong Kong (a special administrative region of PRC). The charge for taxation is based on actual results for the year as adjusted for items that are non-assessable or disallowed; and it is calculated using tax rates that have been enacted or substantively enacted by the balance sheet date. The Company is not currently subject to tax in the Cayman Islands or the British Virgin Islands. Deferred taxes are accounted for using the asset and liability method in respect of temporary differences arising from differences between the carrying amount of assets and liabilities in the Company’s unaudited condensed consolidated financial statements and the corresponding tax basis used in the computation of assessable tax profit of loss. In principle, deferred tax liabilities are recognized for all taxable temporary differences. Deferred tax assets are recognized to the extent that it is probable that future taxable income can be utilized with prior net operating loss carry forwards. Deferred tax is calculated using tax rates that are expected to apply to the period when the asset is realized, or th

Discontinued Operations

Discontinued Operations	12 Months Ended
Discontinued Operations	Dec. 31, 2022
Discontinued Operations
Discontinued Operations	Note 3 – Discontinued Operations Disposal of Boca International Limited On June 7, 2018, the Company transferred its 49% interest in Boca at an agreed value of HK$184.84 million ($23.70 million) to Ms. Leung (Note 1). On August 31, 2020, the Company’s wholly-owned subsidiary, SGOCO International entered into a Sale and Purchase Agreement for the disposal of 94 shares in the share capital of Boca International Limited, being 51% of its entire issued share capital. Upon the satisfactory completion of the closing conditions contained in the Agreement, the disposal shall be consummated in consideration for the transfer of a 51% interest in Boca International Limited to Wong Yiu Tong at an agreed value of HK$1.46 million ($0.19 million). The Company considers August 31, 2020 as the disposal effective date since the operational and management control over Boca was shifted from TROOPS to the Purchaser on August 31, 2020. As of August 31, 2020, operations of Boca to be disposed of were reported as discontinued operations. Accordingly, assets, liabilities, revenues, expenses and cash flows related to Boca have been reclassified in the consolidated financial statements as discontinued operations for all periods presented. The following table presents the components of discontinued operations reported in the consolidated balance sheets: As of December 31, 2019 Cash $ 35 Accounts receivable, net 25 Operating lease right-of-use assets, net 95 Other receivables and prepayments 37 Equipment 2,799 Intangible assets 2,377 Long-live asset subtotal 5,271 Assets held for sale 5,368 Classified as: — Current 97 — Non-current 5,271 Other payables and accrued liabilities $ 4,274 Operating lease liability, current 68 Operating lease liability, non-current 29 Deferred tax liabilities 594 Liabilities held for sale 4,965 Classified as: — Current 4,342 — Non-current 623 The following table presents the components of discontinued operations reported in the consolidated statements of comprehensive loss: For eight months ended August 31, 2020 Revenues $ 812 Cost of revenues (523) Operating expenses (363) Other expenses — Loss before provision for income taxes (74) Income tax credit 79 Gain (Loss) from discontinued operations, net of income taxes 5 The following table summarizes the net assets of Boca at the date of disposal: Date of disposal of 51% equity interest in Boca (August 31, 2020) Cash $ 2 Accounts receivable 186 Operating lease right-of-use assets, net 95 Other receivables and prepayments 37 Plant and equipment, net 2,837 Intangible assets, net 2,063 Long-live asset subtotal 4,900 Other payables and accrued liabilities (4,235) Operating lease liabilities (97) Deferred tax liabilities (516) Net assets of Boca upon disposal 372 51 % Interests in net assets of Boca being disposed of 189 Consideration 187 Loss on disposal of subsidiary (2)

Accounts receivable, net

Accounts receivable, net	12 Months Ended
Accounts receivable, net	Dec. 31, 2022
Accounts receivable, net
Accounts receivable, net	Note 4 – Accounts receivable, net Accounts receivable as of December 31, 2022 and 2021 consisted of the following: December 31, 2022 2021 Accounts receivable $ — $ 8 Allowance for doubtful accounts — — $ — $ 8 As of December 31, 2022 and 2021, no allowance for doubtful accounts has been established as management believes that amounts outstanding are fully collectible. During the years ended December 31, 2022 and 2021, the Company did not have any bad debt expense or account write offs.

Loans receivable, net

Loans receivable, net	12 Months Ended
Loans receivable, net	Dec. 31, 2022
Loans receivable, net
Loans receivable, net	Note 5- Loans receivable, net The annualized interest rates on loans issued ranged between 5% and 42% for the year ended December 31, 2022, and ranged between 5% and 54% for the year ended December 31, 2021. Loans receivable consisted of the following: December 31, 2022 2021 Loans receivable, gross Personal loans $ 7,622 $ 8,027 Corporate loans 7,000 6,167 Subtotal 14,622 14,194 Provision for loan losses (2,072) (3,558) Total loans receivable, net $ 12,550 $ 10,636 Less: classified as non-current loans receivable, net (4,170) (8,190) Total current loans receivable, net $ 8,380 $ 2,446 The following is a maturity analysis of the Company’s loans receivable, net as of December 31, 2022: For the year ending December 31, Amount 2023 $ 8,380 2024 4,165 2025 and thereafter 5 Total loans 12,550 The Company originates loans to customers located primarily in Hong Kong. As of December 31, 2022 and 2021, the Company had 14 and 18 personal loan customers, and 4 and 3 corporate loan customers, respectively. Provision for loan losses is estimated on an annually basis based on an assessment of specific evidence indicating doubtful collection, historical experience, loan balance aging and prevailing economic conditions. For the years ended December 31, 2022, a reversal of 973 was recognized to the consolidated statement of comprehensive loss. For the years ended 2021 and 2020, a provision of $1,386 and $1,980 was charged to the consolidated statement of comprehensive loss, and no write-offs against provisions was made. The following table represents the aging of loans receivable, net as of December 31, 2022 and 2021: December 31, 2022 2021 1‑89 days past due $ 1 $ — 90‑179 days past due — 1 180‑365 days past due — 1 Over 1 year past due * — 415 Total past due $ 1 $ 417 Loans without overdue 12,449 10,219 Total loans, net $ 12,550 $ 10,636 * The original loan settlement was planned in 2020, but was postponed by COVID-19. In early 2021, loans and interest receivable from seven borrowers were assigned to an unrelated party, Brilliant Jade Group Limited, in considerations of HK$108.12 million ($13.86 million) in total. Outstanding loans were accrued to HK$108.12 million ($13.86 million) according to loan contract terms. Considerations were fully settled in March and April, 2021. No outstanding balance is due from the captioned borrowers after loan assignments. As of December 31, 2022, the Company had loans receivable of $1,154 as aging over 1 year past due. A provision of $1,153 was charged to aging over 1 year past due for the year ended December 31, 2022. Increase in provision was mainly due to most of loans were unsecured loans. As of December 31, 2021, the Company had loans receivable of $423 as aging over 1 year past due. A provision of $8 was charged to aging over 1 year past due for the year ended December 31, 2021. Decrease in provision was mainly due to the loans were sufficiently secured by real estate. The following table summarizes the Company’s loan portfolio by categories as of December 31, 2022 and 2021: December 31, 2022 2021 Installment loans to individuals $ 421 $ 15 Real estate backed loan 6,419 6,221 Securities backed loan 3,035 1,617 Commercial loans 2,675 2,783 Total loans, net $ 12,550 $ 10,636 Installment loans to individuals Installment loans to individuals are unsecured loans offered to individual borrowers by assessing their abilities to repay their loans and interest. The factors used to determine the borrower’s ability to repay include the borrower's current income, current assets, credit history and employment status. Real estate backed loans A real estate backed loan is a loan in which the borrower puts up a real estate under his/her ownership, possession or control, as collateral for the loan. The loan is secured against the collateral and the Company does not take physical possession of the collateral at the time the loan is made. The Company will verify ownership of the collateral and then register the collateral with the appropriate government entities to complete the secured transaction. In the event that the borrower defaults, the Company can then take possession of the collateral and sell it to recover the outstanding balance owed. If the sale proceeds of the collateral is not sufficient to pay off the loan in full, the Company will file a lawsuit against the borrower and seek judgment for the remaining balance. Securities backed loans A securities backed loan is a loan in which the borrower puts up securities of public listed companies under his/her ownership as collateral for the loan. The loan is secured against the collateral and the Company obtains physical possession of the original share certificates since the loan is made. The Company verifies ownership of the securities by examining proof of ownership. Both the borrower and the Company have to sign a share plege agreement to complete the secured transaction. In the event that the borrower defaults, the Company can then take possession and sell securities to recover the outstanding balance owed. If the sale proceeds of securities is not sufficient to pay off the loan in full, the Company will file a lawsuit against the borrower and seek judgment for the remaining balance. Commercial loans Commercial loans are unsecured loans offered to corporations by assessing their capacities to make timely principal and interest payments. The factors used to determine the corporations’ ability to repay include state of economy, recent industry performance and financial conditions of the corporations as well as the owners of the corporations.

Other receivables, prepayments

Other receivables, prepayments and deposits	12 Months Ended
Other receivables, prepayments and deposits	Dec. 31, 2022
Other receivables, prepayments and deposits
Other receivables, prepayments and deposits	Note 6- Other receivables, prepayments and deposits Other receivables, prepayments and deposits as of December 31, 2022 and 2021 consisted of the following: December 31, 2022 2021 Utility deposits $ 12 $ 10 Other receivables 77 47 Other prepayments 116 165 Other receivables, prepayments and deposits, net $ 205 $ 222 For the years ended December 31, 2022 , 2021 and 2020, a provision of $3, $5 and $5 was charged to the consolidated statement of comprehensive loss, and no write-offs against provisions was made.

Acquisition of subsidiaries and

Acquisition of subsidiaries and deposits paid for acquisition of subsidiaries	12 Months Ended
	Dec. 31, 2022
Acquisition of subsidiaries and deposits paid for acquisition of subsidiaries
Acquisition of subsidiaries and deposits paid for acquisition of subsidiaries	Note 7 - Acquisition of subsidiaries and deposits paid for acquisition of subsidiaries (a) Acquisition of Boca On December 28, 2015, SGOCO International entered into a Share Sale and Purchase Agreement (the "SPA") with Richly Conqueror Limited (the "Vendor") pursuant to which SGOCO International will acquire all of the issued share capital of Boca International Limited, a company incorporated in Hong Kong (“Boca”). Total consideration of the Sale Shares includes $52.00 million in cash, plus up to 19.9% new shares in TROOPS (as enlarged by the issuance). In December 2015, the Company paid a $52.00 million refundable deposit to the Vendor. Boca is principally engaged in environmental protection, energy saving technologies, equipment development and applications. Its business involves production and sales of phase change thermal energy storage materials as well as central air conditioning cooling and heating system application engineering. The Company and Richly Conqueror Limited entered into a supplemental agreement on February 29, 2016, pursuant to which SGOCO International agreed to issue 1,162,305 ordinary shares of the Company to the Vendor on or before March 15, 2016 and both parties confirmed the closing date of the transaction shall be March 31, 2016. The shares were issued on March 7, 2016, and the fair value of the shares was $3.51 per share on the closing date, March 31, 2016. After the completion of the acquisition, Boca became a wholly owned subsidiary of the Company. The Company completed the valuations necessary to assess the fair values of the tangible and intangible assets acquired and liabilities assumed, resulting from which the amount of goodwill was determined and recognized as of the respective acquisition date. The following table summarizes the estimated aggregate fair values of the assets acquired and liabilities assumed as of the closing date, March 31, 2016. Net liabilities acquired (including cash of $1 and other loan of $332) $ (337) Amortizable intangible assets Backlog contract (Note 3) 372 Proprietary technology (Note 3) 26,179 Goodwill 36,504 Deferred tax liabilities (6,638) Total $ 56,080 Total purchase price comprised of: – cash consideration (paid in fiscal 2015 in the form of refundable deposit) $ 52,000 – share-based consideration 4,080 Total $ 56,080 The transaction resulted in a purchase price allocation of $36,504 to goodwill, representing the financial, strategic and operational value of the transaction to the Company. Goodwill is attributed to the premium that the Company paid to obtain the value of the business of Boca and the synergies expected from the combined operations of Boca and the Company, the assembled workforce and their knowledge and experience in provision of products and projects utilizing “green” energy technologies. The total amount of the goodwill acquired is not deductible for tax purposes. Boca’s revenues for the eight months ended August 31, 2020 of $812 were derived from one single customer, which individually accounted for 100% of the Boca’s revenues. Boca’s revenues for year ended December 31, 2019 of $402 were derived from one single customer, which individually accounted for 98% of the Boca’s revenues. After June 7, 2018, the Company’s effective equity interest in Boca was reduced to 51% after the completion of the transfer of a 49% interest in Boca International Limited to Ms. Leung (Note 1). On August 31, 2020, the Company’s wholly-owned subsidiary, SGOCO International entered into a Sale and Purchase Agreement for the disposal of 94 shares in the share capital of Boca International Limited, being 51% of its entire issued share capital. Upon the satisfactory completion of the closing conditions contained in the Agreement, the disposal shall be consummated in consideration for the transfer of a 51% interest in Boca International Limited to Wong Yiu Tong at an agreed value of HK$1.46 million ($0.19 million). The Company considers August 31, 2020 as the disposal effective date since the operational and management control over Boca was shifted from TROOPS to the Purchaser on August 31, 2020. (Note 3). (b) Acquisition of CSL On December 27, 2016, the Company signed a memorandum of understanding (“MOU”) to acquire all of the issued share capital of CSL, a company incorporated in Hong Kong, for a purchase price of $35.00 million in form of cash or new shares in TROOPS, subject to satisfactory due diligence and customary purchase price adjustments. In December 2016, a refundable deposit of $32.00 million was paid to the owner of CSL. CSL is principally engaged in Virtual Reality (“VR’) device and technologies research and development. Its development center and main researchers are in Shenzhen China. CSL’s R&D team has extensive experience and expertise in the VR industry. The R&D team cooperated with Razer to develop Open-Source Virtual Reality ("OSVR") product aimed on VR-Gaming. The OSVR product attended the 2017 US CES exhibition in Las Vegas in January, 2017. CSL develops VR technology and applies them on VR device. CSL’s VR technology applies on VR Head-mounted display ("HMD") which can reduce the number of cables needed for a VR signal/data link between HMD and the source unit. It also uses ultrasound to calibrate VR devices’ attitude without user’s intervention. The Company and Full Linkage Limited entered into a Share Sale and Purchase Agreement on April 28, 2017, pursuant to which SGOCO International agreed to pay $32.60 million and issue 1,500,000 newly issued ordinary shares of the Company to the Vendor on or before May 15, 2017. The shares were issued on May 4, 2017, and the fair value of the shares was $1.55 per share on the closing date, May 10, 2017. After the completion of the acquisition, CSL became a wholly owned subsidiary of the Company. The Company completed the valuations necessary to assess the fair values of the tangible and intangible assets acquired and liabilities assumed, resulting from which the amount of goodwill was determined and recognized as of the respective acquisition date. The following table summarizes the estimated aggregate fair values of the assets acquired and liabilities assumed as of the closing date, May 10, 2017. Net liabilities acquired (including cash of $1 and accrued liabilities of $68) $ (67) Amortizable intangible assets Technologies 19,682 Goodwill 20,230 Deferred tax liabilities (4,920) Total $ 34,925 Total purchase price comprised of: – cash consideration (paid in fiscal 2016 in the form of refundable deposit) $ 32,600 – share-based consideration 2,325 Total $ 34,925 The transaction resulted in a purchase price allocation of $20,230 to goodwill, representing the financial, strategic and operational value of the transaction to the Company. Goodwill is attributed to the premium that the Company paid to obtain the value of the business of CSL and the synergies expected from the combined operations of CSL and the Company, the assembled workforce and their knowledge and experience in provision of products and projects utilizing VR technologies. The total amount of the goodwill acquired is not deductible for tax purposes. On June 5, 2017, CSL incorporated a wholly foreign owned subsidiary, Shen Zhen Provizon Technology Co., Limited, for the development of VR technology and application of these technologies on VR device in China. CSL and Shen Zhen Provizon Technology Co., Limited have not generated revenues for the years ended December 31, 2018 and 2017. The Company took more time to commercialize the VR products than expected. After June 7, 2018, the Company’s effective equity interest in Boca was reduced to 51% after the completion of the transfer of a 49% interest in CSL to Ms. Leung (Note 1). On September 20, 2019, the Company wholly-owned subsidiary, SGOCO International entered into a Share Exchange Agreement for the disposal of 5,100 shares in the share capital of CSL, being 51% of its entire issued share capital, and its fully owned subsidiary – Shen Zhen Provizon Technology Co., Limited. Upon the satisfactory completion of the closing conditions contained in the Agreement, the disposal shall be consummated in consideration for the transfer of a 51% interest in CSL to Ho Pui Lung at an agreed value of HK$ (c) Acquisition of GCL On December 22, 2017, Giant Connection, a wholly-owned subsidiary of TROOPS, completed the acquisition of GCL contemplated by the Share Exchange Agreement entered into by Luk Lai Ching Kimmy (as vendor) and the Company in consideration for HK$19.60 million ($2.35 million), which was satisfied by the allotment and issuance of 2,220,283 ordinary shares of the Company. GCL holds a Money Lenders License and engages in money lending business in Hong Kong. The fair value of the shares was $1.06 per share on December 26, 2017. After the completion of the acquisition, GCL became a wholly owned subsidiary of the Company. The Company completed the valuations necessary to assess the fair values of the tangible assets acquired and liabilities assumed, resulting from which the amount of goodwill was determined and recognized as of the respective acquisition date. The following table summarizes the estimated aggregate fair values of the assets acquired and liabilities assumed as of the closing date, December 22, 2017. Net assets acquired (including cash of $943, loans receivable of $670, interest receivables of $6, property, plant and equipment of $508 and income tax payable of $14) $ 2,113 Goodwill 248 Deferred tax liabilities (7) Total $ 2,354 Total purchase price comprised of: — share-based consideration $ 2,354 Total $ 2,354 The transaction resulted in a purchase price allocation of $248 to goodwill, representing the financial, strategic and operational value of the transaction to the Company. Goodwill is attributed to the premium that the Company paid to obtain the value of the business of GCL and the synergies expected from the combined operations of GCL and the Company, the assembled workforce and their knowledge and experience in provision of money lending service. The total amount of the goodwill acquired is not deductible for tax purposes. (d) Acquisition of Paris Sky On June 7, 2018, the Company’s wholly-owned subsidiary, Giant Connection closed a Share Exchange Agreement for the entire issued share capital of Paris Sky, whose then sole shareholder and sole director were Leung Iris Chi Yu (“Ms. Leung”) and Luk Lai Ching Kimmy (see (c) above, respectively. In consideration for (1) the allotment of 3,889,050 ordinary shares of the Company to Leung Iris Chi Yu (“Ms. Leung”), at an initial agreed value of HK$30.33 million ($3.89 million), the fair value of the 3,889,050 ordinary shares was $4.78 million, which was calculated based on the stock price of $1.23 per share on June 7, 2018, (2) the transfer of a 49% interest in CSL at an agreed value of HK$126.13 million ($16.17 million), (3) the transfer of a 49% interest in Boca at an agreed value of HK$184.84 million ($23.70 million), and (4) the issuance of a promissory note to Ms. Leung in the principal amount of HK$27.10 million ($3.47 million), bearing a 8% interest per annum, by Giant Connection, the Company acquired 100% of the issued share capital of Paris Sky, an investment holding company which, through its wholly owned subsidiary, Suns Tower, owns a property located at No. 8 Fui Yiu Kok Street, Tsuen Wan, New Territories, Hong Kong. The Company repaid the promissory note in full on August 22, 2018. As over 95% of the fair value of the gross assets acquired is concentrated in the leasehold property, the acquisition of Paris Sky is considered an asset acquisition. Net assets acquired Property, plant and equipment* $ 52,994 Allowance on guarantee (817) Other assets acquired (including cash of $1,957, other assets of $50, other payables of $170 and income tax payable of $4) 1,833 Deferred tax assets 116 Deferred tax liabilities (5,998) Total $ 48,128 Total purchase price comprised of: — share-based consideration $ 4,784 — 49% interest in Boca 23,699 — 49% interest in CSL 16,170 — promissory note 3,475 Total $ 48,128 * Property, plant and equipment acquired included leasehold land and buildings with a value of $53.00 million at the date of acquisition which are pledged against the banking facilities of HK$215.32 million ($27.61 million) of a company beneficially owned by Luk Lai Ching Kimmy (see (c) above). The property pledge (allowance on guarantee) was valued on the basis of estimation of the probability that the borrower would be unable to either repay the loan or fulfil the loan contract terms (the default risk) and the amount that would be recovered at events of default (the recovery rate). (e) Acquisition of Vision Lane On October 3, 2018, the Company signed a letter of intent (“LOI”) to acquire all of the issued share capital of Vision Lane, a company incorporated in British Virgin Island and engages in property investment in Hong Kong. Vision Lane owns all of the issued share capital of First Asia Finance, a company incorporated in Hong Kong. First Asia Finance holds a Money Lenders License and engages in money lending business in Hong Kong. On December 31, 2018, a refundable deposit of $6.41 million was paid to the owner of Vision Lane. On February 5, 2019, the Company’s wholly-owned subsidiary, Paris Sky entered into a Share Exchange Agreement for the entire issued share capital of Vision Lane for an initial consideration of $12.42 million to be satisfied by (1) the allotment of 4,519,347 ordinary shares of the Company to Kwok Man Yee Elvis, at $1.10 per share and (2) the payment of $7.46 million in cash. The fair value of the 4,519,347 ordinary shares was $5.24 million, which was calculated based on the stock price of $1.16 per share on March 8, 2019, and the final consideration was $12.74 million. On March 12, 2019, Paris Sky closed its acquisition of Vision Lane. After the completion of the acquisition, Vision Lane and First Asia Finance became wholly owned subsidiaries of the Company. The Company completed the valuations necessary to assess the fair values of the tangible assets acquired and liabilities assumed, resulting from which the amount of goodwill was determined and recognized as of the respective acquisition date. The following table summarizes the estimated aggregate fair values of the assets acquired and liabilities assumed as of the closing date, March 12, 2019. Net assets acquired (including cash of $1,122, loan receivables of $7,495, interest receivables of $151, property, plant and equipment of $1,095, other receivables of $20, accounts payable of $30, other payables of $607 and income tax payable of $81) $ 9,165 Goodwill 3,658 Deferred tax liabilities (124) Total $ 12,699 Total purchase price comprised of: – cash consideration ( $ 7,457 – share-based consideration 5,242 Total $ 12,699 The transaction resulted in a purchase price allocation of $3,658 to goodwill, representing the financial, strategic and operational value of the transaction to the Company. Goodwill is attributed to the premium that the Company paid to obtain the value of the business of Vision Lane and the synergies expected from the combined operations of Vision Lane and the Company, the assembled workforce and their knowledge and experience in provision of money lending service. The total amount of the goodwill acquired is not deductible for tax purposes. (f) Acquisition of GFS On December 23, 2019, the Company entered into a Share Exchange Agreement with Victor Or (Note 19) for the purchase and sale of the entire equity interest in GFS. GFS is a private company incorporated in Samoa and provides an online financial marketplace connecting financial institutions and users worldwide via its unique mobile application which features state-of-the-art functions to boost financial accessibility to financial and insurance products and services. At the heart of its digital platform is the Company's dedication to drive innovation, create value to businesses and individual users alike by (i) minimizing transaction risks, (ii) lowering transaction costs, (iii) reducing and detecting fraud, (iv) saving time, (v) increasing access and equality. The total consideration to be paid for GFS is $64.34 million, which shall be satisfied by (a) the allotment of 15,992,000 shares of the Company to be issued to Mr. Or on the closing date, representing 19.9% of the total issued and outstanding shares of the Company as of the date of the Agreement, (b) the payment of $21.79 million in cash, and (c) the balance satisfied by issuance of a promissory note to Mr. Or. On January 31, 2020, TROOPS closed its previously announced acquisition of GFS. The Company repaid the promissory note in full on March 30, 2021. After the completion of the acquisition, GFS became a wholly owned subsidiary of the Company. The Company completed the valuations necessary to assess the fair values of the tangible assets acquired and liabilities assumed, resulting from which the amount of goodwill was determined and recognized as of the respective acquisition date. The following table summarizes the estimated aggregate fair values of the assets acquired and liabilities assumed as of the closing date, January 31, 2020. Net assets acquired (including cash of $981, other receivables and prepayments of $707, property, plant and equipment of $7, accrued liabilities of $29, other payables-related party of $662 and income tax payable of $387) $ 617 Intangible assets (including trademarks of $1,550 and backlog contracts of $2,786) 4,336 Goodwill 60,103 Deferred tax liabilities (715) Total $ 64,341 Total purchase price comprised of: – cash consideration (paid in fiscal 2019 in the form of deposit) $ 21,795 – consideration in the form of a promissory note (note) 28,473 – share-based consideration 14,073 Total $ 64,341 Note: The promissory note was issued to Mr. Or on January 31, 2020. The face value (principal) amount of $28.47 million is repayable by January 31, 2025, and bearing fixed interest at a rate of eight percent (8%) per annum. The Company has repaid the promissory note by several payments during 2020 and 2021, and it was fully settled by March 30, 2021. The transaction resulted in a purchase price allocation of $60,103 to goodwill, representing the financial, strategic and operational value of the transaction to the Company. Goodwill is attributed to the premium that the Company paid to obtain the value of the business of GFS and the synergies expected from the combined operations of GFS and the Company, the assembled workforce and their knowledge and experience in provision of money lending service. The total amount of the goodwill acquired is not deductible for tax purposes. (g) Acquisition of Apiguru On September 28, 2020, the Company's wholly-owned subsidiary, GFS closed a Share Exchange Agreement for the entire issued share capital of Apiguru. The acquisition was consummated in consideration for a total of AUD695,000 ($0.50 million), which was satisfied by the allotment and issuance of 559,581 ordinary shares of the Company. Apiguru is a technology consulting company specialising in Application Programming Interface (API) strategy and implementation enabling state-of-the-art market fit hypothesis that drives businesses forward. Through providing API consulting services, Apiguru helps businesses increasing effectivity, optimizing productivity, and developing integration channels that leverage opportunities for generating new revenue sources. GFS aims to serve clients from different sectors with distinctive needs. Along together with API specialization, Apiguru helps GFS to integrate with various global platforms to expand customer base. The shares were issued on October 12, 2020, and the fair value of the shares was $1.05 per share, and the final consideration was $0.59 million. On October 8, 2020, GFS closed its acquisition of Apiguru. After the completion of the acquisition, Apiguru became a wholly owned subsidiary of the Company. The Company completed the valuations necessary to assess the fair values of the tangible assets acquired and liabilities assumed, resulting from which the amount of goodwill was determined and recognized as of the respective acquisition date. The following table summarizes the estimated aggregate fair values of the assets acquired and liabilities assumed as of the closing date, October 8, 2020. Net assets acquired (including cash of $28, account payable of $1, other payables of $7) $ 20 Intangible assets - non-competition agreement 39 Goodwill 539 Deferred tax liabilities (10) Total $ 588 Total purchase price comprised of: – share-based consideration $ 588 Total $ 588 The transaction resulted in a purchase price allocation of $539 to goodwill, representing the financial, strategic and operational value of the transaction to the Company. Goodwill is attributed to the premium that the Company paid to obtain the value of the business of Apiguru and the synergies expected from the combined operations of Apiguru and the Company, the assembled workforce and their knowledge and experience in provision of money lending service. The total amount of the goodwill acquired is not deductible for tax purposes. (h) Deposit paid for acquisition of TROOPS InsurTech, Inc. On November 11, 2020, the Company signed a letter of intent to acquire all of the issued share capital of TROOPS InsurTech, Inc. (“TROOPS InsurTech”), a company incorporated in the British Virgin Islands which provides innovative solutions to the insurance industry by leveraging artificial intelligence, big data and blockchain technology, machine learning and SaaS. Through both online (mobile application and web-based) and offline platforms, TROOPS InsurTech seeks to provide (i) customized SaaS and workplace solutions to insurance brokers, (ii) blockchain alliance and data analytics services for insurance product design, clients' needs assessment, market analysis and risk management, (iii) insurance professionals training, recruitment and matching, and (iv) insurance policy management and service matching solutions to agents and clients to enhance customer experience. On November 13, 2020, a refundable deposit of $5 million was paid to the owner of the shares in TROOPS InsurTech. Acquisition of TROOPS InsurTech is still in progress. The deposit shall be refundable upon demand by the Company if the Company is not satisfied with the results of the due diligence review or the acqusition is not completed on or before the mutually agreed date.

Property, plant and equipment

Property, plant and equipment	12 Months Ended
Property, plant and equipment	Dec. 31, 2022
Property, plant and equipment
Property, plant and equipment	Note 8 –Property, plant and equipment Property, plant and equipment consisted of the following as of December 31, 2022 and 2021: December 31, 2022 2021 Leasehold land and buildings* $ 59,065 $ 58,927 Leasehold improvements 18 17 Machinery and equipment 17 14 Vehicles and office equipment 371 261 Total 59,471 59,219 Impairment (1,554) (1,415) Less: accumulated depreciation (9,262) (7,214) Plant and equipment, net $ 48,655 $ 50,590 * As of December 31, 2020, leasehold land and buildings (a) with a carrying value of $47.67 million are pledged against the banking facilities from OCBC Wing Hang Bank Limited of HK$50.00 million ($6.41 million) of the Company and (b) with a carrying value of $4.37 million are pledged against the banking facilities from United Overseas Bank Limited of HK$127.54 million ($16.35 million) of a company beneficially owned by Luk Lai Ching Kimmy (a shareholder of the Company holding 4.2% of the Company’s ordinary shares as of December 31, 2020). This loan was fully settled on October 21, 2021. Depreciation expense from continuing operations was $1,952, $1,953 and $2,099 for the years ended December 31, 2022, 2021 and 2020, respectively. Depreciation expense from discontinued operations was $nil $nil During the course of the Company’s strategic review of its operations in the years ended December 31, 2022, 2021 and 2020, the Company assessed the recoverability of the carrying value of certain property, plant and equipment which resulted in impairment losses from continuing operations of approximately $139, $nil and $970, respectively.

Intangible assets, net

Intangible assets, net	12 Months Ended
Intangible assets, net	Dec. 31, 2022
Intangible assets, net
Intangible assets, net	Note 9 – Intangible assets, net Intangible assets, net, as of December 31, 2022 and 2021 consisted of the following: December 31, 2022 2021 Trademark $ 1,550 $ 1,550 Service Contract 2,786 2,786 Computer Software 37 42 Accumulated amortization (2,898) (2,883) Impairment (1,432) (1,432) Exchange difference (1) (2) Intangible assets, net $ 42 $ 61 Amortization expenses of intangible assets from continuing operations were $18, $181 and $2,702 for the years ended December 31, 2022, 2021 and 2020, respectively. Amortization expenses of intangible assets from discontinued operations were $nil, $nil and $314 for the years ended December 31, 2022, 2021 and 2020, respectively. During the course of the Company’s strategic review of its operations, the Company assessed the recoverability of the carrying value of the Company’s intangible assets. The impairment charge, if any, represented the excess of carrying amounts of the Company’s intangible assets over their fair value, using the expected future discounted cash flows. Impairment on intangible assets from continuing operations were $nil, $202 and $1,230 for the years ended December 31, 2022, 2021 and 2020, respectively. There were no impairment on intangible assets from discontinued operations for the years ended December 31, 2022, 2021 and 2020, respectively As of December 31, 2022, amortization expenses related to intangible assets for future periods are estimated to be as follows: For the years ending December 31, 2028 and 2023 2024 2025 2026 2027 thereafter $ $ $ $ $ $ Amortization expenses 13 5 5 5 5 9

Goodwill

Goodwill	12 Months Ended
Goodwill	Dec. 31, 2022
Goodwill
Goodwill	Note 10 – Goodwill The movement of the goodwill for the years ended December 31, 2022, 2021 and 2020 is as follows: Balance as of January 1, 2020 $ 3,906 Acquisition of GFS 60,103 Acquisition of Apiguru 539 Impairment of goodwill in relation to GCL, Vision Lane and FAF (3,906) Impairment of goodwill in relation to GFS (55,535) Balance as of December 31, 2020 5,107 Impairment of goodwill in relation to GFS and Apiguru (4,740) Exchange difference 18 Balance as of December 31, 2021 385 Impairment of goodwill — Balance as of December 31, 2022 $ 385 The Company performed goodwill impairment test at the reporting unit level on an annual basis and between annual tests when an event occurs or circumstances change indicating the asset might be impaired. As of December 31, 2022, the Company performed testing on reporting unit of financial technology solutions and service. The Company first assessed qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. For those reporting units where it is determined that it is more likely than not that their fair values are less than the units’ carrying amounts, the Company will perform the first step of a two-step quantitative goodwill impairment test. After performing the assessment, if the carrying amounts of the reporting units are higher than their fair values, the Company will perform the second step of the two-step quantitative goodwill impairment test. In 2022, 2021 and 2020, the Company performed qualitative assessments for all reporting units. Based on the requirements of ASC 350-20-35-3C through ASC 350-20-35-3G, the Company evaluated all relevant factors, weighed all factors in their totality. As the financial performance of money lending reporting unit, financial technology solutions and services reporting unit and the green energy products and services reporting unit were below original expectations, fair value of these reporting units were indicated to be lower than its carrying value. For these reporting units, where it was determined that it was more likely than not that its fair value was less than the units’ carrying amount after performing the qualitative assessment, as a result, the Company performed the two-step quantitative goodwill impairment test for these two reporting units. For the two-step goodwill impairment test, the Company estimated the fair value with either income approach or asset approach for specific reporting unit components. With the income approach, the Company estimates the fair value of the reporting units using discounted cash flows. Forecasts of future cash flows are based on the best estimate of future net sales and operating expenses, based primarily on expected expansion, pricing, market share, and general economic conditions. Certain estimates of discounted cash flows involve businesses with limited financial history and developing revenue models. Changes in these forecasts could significantly change the amount of impairment recorded, if any. Asset based approach is used in evaluating the fair value of some specific components which is deemed as the most prudent approach due to the unpredictability of future cash flows. The result of step one impairment test for the green energy products and services reporting unit failed, with its determined fair value lower than the book value. The Company performed step two impairment test, applying the income approach, resulting an impairment loss of goodwill of $20.56 million being recorded for the years ended December 31, 2019, from discontinued operations. The Company did not perform the impairment test for the green energy products and services reporting unit in 2022 and 2021 since the unit had been disposed. The result of step one impairment test for the money lending reporting unit failed, with its determined fair value lower than the book value. The Company performed step two impairment test, applying the income approach, resulting an impairment loss of goodwill of $nil The result of step one impairment test for the financial technology solutions and services reporting unit failed, with its determined fair value lower than the book value. The Company performed step two impairment test, applying the income approach, resulting an impairment loss of goodwill of $nil

Bank loan

Bank loan	12 Months Ended
Bank loan	Dec. 31, 2022
Bank loan
Short-term bank loan	Note 11 - Bank loan On December 10, 2019, the Company obtained banking facilities from OCBC Wing Hang Bank Limited with a maximum amount of HK$50.00 million ($6.41 million) with the term from December 31, 2019 to December 31, 2044, bearing interest at 1.8% per annum over the prevailing 3 Month HIBOR, at current rate 4.23% per annum. Under the facilities, the Company borrowed HK

Warrant derivative liability

Warrant derivative liability	12 Months Ended
Warrant derivative liability	Dec. 31, 2022
Warrant derivative liability
Warrant derivative liability	Note 12 - Warrant derivative liability Investor Warrants On April 5, 2017, the Company entered into a Securities Purchase Agreement with certain unrelated investors to sell an aggregate of 434,783 shares of the Company’s ordinary shares and warrants to purchase up to an initial 326,087 of the Company’s ordinary shares with an initial exercise price of $2.75 per share. Warrants to purchase the Company’s ordinary shares were issued to investors in amount equal to 75% of the shares purchased by each investor under the Purchase Agreement. On November 15, 2017, the Company consummated a private placement of the Company’s ordinary stock pursuant to a series of Stock Purchase Agreements, dated November 13, 2017. Under the Stock Purchase Agreements, the Company sold shares at a price of $0.80. As such, pursuant to Section 3(b) of the Warrants, the Company has determined that the Investor Warrants exercise price per share of ordinary stock shall be hereby adjusted to $1.00 and the number of shares of ordinary stock subject to the Investor Warrants shall be hereby increased to 896,739 shares, with an expiration date of April 4, 2021. The Investor Warrants were fully exercised by April 4, 2021. As of December 31, 2020, 422,922 Investor Warrants were outstanding, and their fair values were $203 (note 2). Placement Agent Warrants In connected with the offering of the Company’s shares on April 5, 2017 (see above), the Company issued 34,783 warrants (the “Placement Agent Warrants”) to its placement agent (an amount equal to 8% of our ordinary shares sold to investors in the offering). On November 15, 2017, as a result of the private placement of the Company’s ordinary stock pursuant to a series of Stock Purchase Agreements, and pursuant to Section 3(b) of the Warrants, the Company has determined that the Placement Agent Warrants exercise price per share of ordinary stock shall be hereby adjusted to $1.00 and the number of shares of ordinary stock subject to the Placement Agent Warrants shall be hereby increased to 95,653 shares, with an expiration date of April 4, 2021. The Investor Warrants were fully exercised by April 4, 2021. As of December 31, 2020, The amount of $nil The Investor Warrants and Placement Agent Warrants are exercisable for a period of four years commencing from April 5, 2017. Following is a summary of the warrant activity for the years ended December 31, 2021 and 2020: Weighted Average Average Remaining Number of Exercise Contractual Warrants Price Term in Years Outstanding at January 1, 2020 817,489 1.00 1.26 Exercisable at January 1, 2020 817,489 $ 1.00 — Granted — — — Exercised (298,914) 1.00 — Surrendered — — — Expired — — — Outstanding at December 31, 2020 518,575 $ 1.00 0.26 Exercisable at January 1, 2021 518,575 $ 1.00 Granted — — — Exercised (518,575) $ 1.00 — Surrendered — — — Outstanding at December 31, 2021 — — —

Convertible notes

Convertible notes	12 Months Ended
Convertible notes	Dec. 31, 2022
Convertible notes
Convertible notes	Note 13 – Convertible notes On April 18, 2018, the Company entered into a Securities Purchase Agreement with Mr. So Chun Lin, an unrelated party, pursuant to which the investor purchased a note for $5,779,602, bearing 2.5% interest per annum (the “2018 Notes”). The 2018 Notes will be matured 5 years from the date of issuance. At any time prior to the earlier of the maturity date or the date on which this 2018 Notes is paid in full, at the option of the Holder, all or any part of Principal Amount (the “Optional Conversion Amount”) may be converted into 3,853,068 Ordinary Shares at $1.50 per share. The 2018 Notes will be automatically converted into ordinary shares of the Company at a conversion price equal to $1.50 per share at maturity. Interest on the 2018 Notes will be paid in cash and cannot be converted into shares of the Company. The 2018 Notes were sold pursuant to an exemption from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”), pursuant Section 4(a)(2) of the Securities Act and Regulation S promulgated thereunder. The contractual obligation to pay interest on the 2018 Notes results in an indirect contractual obligation to pay dividends on the base instrument. The present value of the expected dividend (interest) stream of $0.50 million is classified as liability and the difference between the proceeds of the 2018 Notes and the fair value of the liability component is attributable to equity component ($5.30 million). The issuance of the 2018 Notes did not give rise to a beneficial conversion feature due to the market price of the shares of the Company at the issuance date of $1.07 being less than the effective conversion price was $1.38 per share. On April 30, 2020, the 2019 Notes with a principal amount of $3.76 million (comprising liability component of $0.16 million and equity component of $3.60 million) were surrendered to the Company for cancellation in satisfaction of the initial deposit in relation to the disposal of 5,100 shares in the share capital of CSL (Note 3).

Other payables and accrued liab

Other payables and accrued liabilities	12 Months Ended
Other payables and accrued liabilities	Dec. 31, 2022
Other payables and accrued liabilities
Other payables and accrued liabilities	Note 14 – Other payables and accrued liabilities Other payables and accrued liabilities as of December 31, 2022 and 2021 consisted of the following: December 31, Note 2022 2021 Accrued professional fees $ 308 $ 234 Accrued staff costs and staff benefits 49 35 Rental deposits from tenants 205 191 Rental receipt in advance 10 7 Interest receipt in advance — 5 Advances from unrelated parties * 409 448 Others 279 689 $ 1,260 $ 1,609 * The advances from unrelated parties were unsecured, interest free and have no fixed terms of repayment.

Equity transactions

Equity transactions	12 Months Ended
Equity transactions	Dec. 31, 2022
Equity transactions
Equity transactions	Note 15 - Equity transactions Preferred stock On January 29, 2008, the Company amended its articles of association and authorized 1,000,000 preferred shares. No preferred shares were issued or registered in the IPO. There were no preferred shares issued and outstanding as of December 31, 2022 and 2021. Issuance of capital stock 2022 None. 2021 During 2021, 422,922 Investor Warrants and 95,653 Placement Agent were exercised. By April 7, 2022, the Company had issued a total of 439,770 shares from cashless exercise of those Warrants. 2020 On April 17, 2020, the Company entered into a Stock Purchase Agreement with Lin So Chun, unaffiliated third parties, pursuant to which the Company sold to Ms Lin , million. The Shares were offered and sold by the Company to the Investors in a series of private transactions pursuant to the exemption from registration provided by Regulation S promulgated under the Securities Act of 1933, as amended. The investor paid full amount of Share-based compensation On January 6, 2020, a total of 80,000 shares were issued to certain of the Company’s directors as their compensation for fiscal year of 2019, which vested immediately. The grant date fair value was $1.00 per share as quoted closing price on January 6, 2020.

Income taxes

Income taxes	12 Months Ended
Income taxes	Dec. 31, 2022
Income taxes
Income taxes	Note 16 - Income taxes Year ended December 31, 2022 2021 2020 Income tax expenses $ (195) $ (188) $ (741) Deferred income tax benefit 251 314 1,050 $ 56 $ 126 $ 309 Income is subject to tax in the various countries in which the Company operates. SGO is incorporated in the State of Delaware that is subject to U.S. corporate income tax on its taxable income at a rate of up to 21% for taxable years beginning after December 31, 2017 and U.S. corporate income tax on its taxable income of up to 35% for prior tax years. No provision for income taxes in the United States has been made as SGO had no taxable income for the years ended December 31, 2020. SGO has been deregistered in 2020. The Company mainly conducts its operating business through its subsidiaries in China, including Hong Kong. Other than GCL, the subsidiaries incorporated in Hong Kong are subject to Hong Kong taxation on income derived from their activities conducted in Hong Kong. Hong Kong Profits Tax has been calculated at 16.5% of the estimated assessable profit for the years ended December 31, 2022, 2021 and 2020. The provision for Hong Kong Profits Tax for GCL is calculated at 8.25% for first-tier rate and 16.5% for the second-tier rate of the estimated assessable profits for the years ended December 31, 2022, 2021 and 2020. The subsidiaries incorporated in mainland China are governed by the Income Tax Law of the PRC concerning foreign invested enterprises and foreign enterprises and various local income tax laws (the Income Tax Laws), and are subject to 25% tax rate throughout the periods presented. The Income Tax Laws also impose a 10% withholding income tax for dividends distributed by a foreign invested enterprise to its immediate holding company outside China for distribution of earnings generated after January 1, 2008. Under the Income Tax Laws, the distribution of earnings generated prior to January 1, 2008 is exempt from the withholding tax. As our subsidiaries in the PRC will not be distributing earnings to the Company for the years ended December 31, 2022, 2021 and 2020, no deferred tax liabilities have been recognized for the undistributed earnings of these PRC subsidiaries at December 31, 2022, 2021 and 2020. Total undistributed earnings of the Company’s PRC subsidiaries at December 31, 2022 were $nil (December 31, 2021: $nil). The following table reconciles the U.S. statutory rates to the Company’s effective tax rate for the years ended December 31, 2022, 2021 and 2020: Year ended December 31, 2022 2021 2020 U.S. Statutory rates 21.0 % 21.0 % 21.0 % Foreign income not recognized in USA (21.0) (21.0) (21.0) China income taxes (including Hong Kong SAR) 4.1 13.6 16.0 Australia income taxes (0.6) 1.1 — Impact of tax rate in other jurisdictions (1.3) (6.4) (5.0) Impact of tax reduction of Hong Kong profits tax 0.1 — — Tax effect of non-deductible expenses (0.4) (7.9) (10.4) Valuation allowance 4.2 0.4 (0.1) Under provision in respect of prior years (1.6) (2.2) (0.7) Other (a) 0.1 2.9 0.6 Effective income taxes 4.6 % 1.5 % 0.4 % Notes: (a) There were no other material items affecting the effective income tax for the years ended December 31, 2022, 2021 and 2020 except for (i) losses incurred by TROOPS of approximately $970 , $1,156 and $1,870 , respectively, where there is no tax in the Cayman Islands; and (ii) under-provision of Hong Kong profits tax as a result of certain non-deductible expenses in prior year. Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of deferred income tax assets and liabilities are as follows: December 31, 2022 December 31, 2021 Deferred income tax assets: Net operating loss carry-forward $ 531 $ 647 Less: Valuation allowance (531) (647) $ — $ — Deferred tax liabilities Intangible assets $ 8 $ 12 Property, plant and equipment 5,273 5,521 Interest income 12 12 $ 5,293 $ 5,545 The deferred income tax assets wholly relate to net tax loss carry forwards. The net operating loss carry forwards derived from the Company’s PRC entity, HK entities and Australia entity. The net tax loss of the PRC entity, Hong Kong entities and Australia entity of $917 and $3,131 as of December 31, 2022 and 2021, respectively, available for offset against future profits may be carried forward indefinitely. Management believes that the Company will not realize these potential tax benefits as the Company’s operations in these PRC and Hong Kong entities will not generate any operating profits in the foreseeable future. As a result, the full amount of the valuation allowance was provided against the potential tax benefits.

Related party transactions

Related party transactions	12 Months Ended
Related party transactions	Dec. 31, 2022
Related party transactions
Related party transactions	Note 17 - Related party transactions During the fiscal year, we did not enter into any transactions with our directors and persons who own more than five percent of our common stock, or with their relatives and entities they control.

Loss per share

Loss per share	12 Months Ended
Loss per share	Dec. 31, 2022
Loss per share
Loss per share	Note 18 - Loss per share The following is a reconciliation of the basic and diluted loss per share computation: For the years ended December 31, 2022 2021 2020 Net loss attributable to ordinary shareholders of TROOPS — continuing operations $ (346) $ (8,413) $ (67,923) — discontinued operations — — 5 $ (346) $ (8,413) $ (67,918) Weighted average shares used in calculating loss per share – basic and diluted 101,597,998 101,563,623 98,110,873 Loss from continuing operations per share – basic and diluted $ (0.01) $ (0.08) $ (0.69) Loss from discontinued operations per share – basic and diluted $ (0.00) $ (0.00) $ (0.00) Net loss per share – basic and diluted $ (0.01) $ (0.08) $ (0.69) As of December 31, 2022, 2021 and 2020, all the Company’s outstanding warrants and convertible notes were excluded from the diluted loss per share calculation as they were anti-dilutive.

Segment information

Segment information	12 Months Ended
Segment information	Dec. 31, 2022
Segment information
Segment information	Note 19 – Segment information The Company’s segments are business units that offer different products and services and are reviewed separately by the chief operating decision maker (the “CODM”), or the decision-making group, in deciding how to allocate resources and in assessing performance. The Company’s CODM is the Company’s Chief Executive Officer. During 2016, after the acquisition of Boca, there is one additional segment, consisting of the provision of green energy products and services. During 2017, after the acquisition of CSL and Giant Credit, there are two additional segments, consisting of the VR service and products and money lending. During 2018, after the acquisition of 11 Hau Fook Street and Paris Sky, there are one additional segment, consisting of the property lease and management. During 2020, after the acquisition GFS and Apiguru, there are one additional segment, consisting of financial technology solutions and services (Note 7(f) and Note 7(g)). Green VR energy products Property Financial LCD/ products and Money lease technology Corporate For the year ended LED and services services lending and solutions unallocated December 31, 2022 products (discontinued) (discontinued) services management and services (note) Consolidated Revenues $ — $ — $ — $ 2,451 $ 1,106 $ 318 $ — $ 3,875 Gross profit (loss) — — — 1,862 (1,065) 25 — 822 Operating expenses (4) — — 165 (497) (36) (986) (1,358) Operating loss from continuing operations (4) — — 2,027 (1,562) (11) (986) (536) Other income — — — 30 107 (1) (2) 134 Loss before provision for income taxes and non-controlling interests (4) — — 2,057 (1,455) (12) (988) (402) Income tax (expense) benefit — — — (181) 245 (8) — 56 Net loss from continuing operations (4) — — 1,876 (1,210) (20) (988) (346) As of December 31, 2022 Identifiable long-lived assets 1 — — 517 48,127 52 — 48,697 Total assets 201 — — 14,466 49,071 5,651 297 69,686 Green VR energy products Property Financial LCD/ products and Money lease technology Corporate For the year ended LED and services services lending and solutions unallocated December 31, 2021 products (discontinued) (discontinued) services management and services (note) Consolidated Revenues $ — $ — $ — $ 1,673 $ 1,068 $ 942 $ — $ 3,683 Gross profit (loss) — — — 1,472 (1,036) (76) — 360 Operating expenses (95) — — (2,092) (576) (5,080) (1,322) (9,165) Operating loss from continuing operations (95) — — (620) (1,612) (5,156) (1,322) (8,805) Other income — — — — 97 7 162 266 Loss before provision for income taxes and non-controlling interests (95) — — (620) (1,515) (5,149) (1,160) (8,539) Income tax (expense) benefit — — — (187) 249 64 — 126 Net loss from continuing operations (95) — — (807) (1,266) (5,085) (1,160) (8,413) As of December 31, 2021 Identifiable long-lived assets 1 — — 555 50,018 77 — 50,651 Total assets 205 — — 12,986 50,619 6,084 452 70,346 Green energy VR Property Financial products products Money lease technology Corporate For the year ended LCD/LED and services and services lending and solutions unallocated December 31, 2020 products (discontinued) (discontinued) services management and services (note) Consolidated Revenues $ — $ — $ — $ 1,667 $ 1,130 $ 1,496 $ — $ 4,293 Gross profit (loss) — — — 1,565 (1,193) (1,438) — (1,066) Operating expenses (616) — — (3,048) (4,889) (56,892) (831) (66,276) Operating loss from continuing operations (616) — — (1,483) (6,082) (58,330) (831) (67,342) Other (expenses) income (306) — — 22 (159) 10 (457) (890) Loss before provision for income taxes and non-controlling interests (922) — — (1,461) (6,241) (58,320) (1,288) (68,232) Income tax (expense) benefit — — — (534) 400 443 — 309 Net loss from continuing operations (922) — — (1,995) (5,841) (57,877) (1,288) (67,923) 　 As of December 31, 2020 　 Identifiable long-lived assets 1 — — 468 51,667 451 — 52,587 Total assets 375 — — 25,625 52,116 11,997 17 90,130 The green energy products and services and VR products and services are reported as discontinued operations (Note 3). Note: The Company does not allocate its assets located and expenses incurred outside Hong Kong to its reportable segments because these assets and activities are managed at a corporate level. Geographic area data is based on product shipment destination. In accordance with the enterprise-wide disclosure requirements of the accounting standard, the Company’s net revenue from external customers by geographic areas is as follows: For the year ended December 31, 2022 2021 2020 Hong Kong 3,597 3,489 4,235 Australia 278 194 58 Total $ 3,875 $ 3,683 $ 4,293

Leases

Leases	12 Months Ended
Leases	Dec. 31, 2022
Leases
Leases	Note 20 - Leases The Company as lessee The Company determines if a contract contains a lease at inception. US GAAP requires that the Company’s leases be evaluated and classified as operating or finance leases for financial reporting purposes. The classification evaluation begins at the commencement date and the lease term used in the evaluation includes the non-cancellable period for which the Company has the right-to-use the underlying asset, together with renewal option periods when the exercise of the renewal option is reasonably certain or failure to exercise such option would result in an economic penalty. The Company has the following operating leases: On March 23, 2022, First Asia Finance entered into a lease agreement for office and warehouse on a two-year term, commencing on March 1, 2022 and expiring on February 29, 2024. The monthly rental payment is HK$15 ($2). The Company recognized lease liabilities with corresponding right-of-use (“ROU”) assets of the same amount based on the present value of the future minimum rental payments of the lease, using mortgage loan’s borrowing rate of 5.63% (Bank of China (Hong Kong) Limited) based on the duration of the lease terms. The following table sets forth the five-year maturity schedule of the Company’s lease liabilities: For the years ending December 31, Amount 2023 $ 23 2024 4 2025 — 2026 — 2027 — Total operating lease payments $ 27 Less: imputed interest (7) Present value of operating lease liabilities $ 20 Operating lease expense from continuing operations was $167, $166 and $125 for the years ended December 31, 2022, 2021 and 2020, respectively. Operating lease expense from discontinued operations was The Company as lessor TROOPS’s operations include the leasing of commercial property located at No. 11 Hau Fook Street, Kowloon and No. 8 Fui Yiu Kok Street, Tsuen Wan, New Territories. The leases thereon expire at various dates through 2023 to 2027. The following is a schedule of minimum future rents on non-cancelable operating leases at December 31, 2022: Future Minimum For the year ending December 31, Rentals 2023 $ 925 2024 392 2025 72 2026 38 2027 25 Total $ 1,452 There are no contingent rentals as of December 31, 2022 and 2021.

Commitments and contingencies

Commitments and contingencies	12 Months Ended
Commitments and contingencies	Dec. 31, 2022
Commitments and contingencies
Commitments and contingencies	Note 21 - Commitments and contingencies The management is not currently aware of any threatened or pending litigation or legal matters, which would have a significant effect on the Company’s consolidated financial statements as of December 31, 2022 and 2021.

Restatement

Restatement	12 Months Ended
Restatement	Dec. 31, 2022
Restatement
Restatement	Note 22 - Restatement During the preparation of our annual report on Form 20-F for the fiscal year of 2020, the Company has discovered an error in the accounting treatment of unvested restricted stock issued to our President and Chief Executive Officer and Chief Technology Officer in 2018, which resulted in misstatements in its previously issued consolidated financial statements for the years ended December 31, 2018 and 2019. The Company is amending and restating its 2019 financial statements to decrease other receivables and prepayments and additional paid-in-capital by $861 and $1,461 as of December 31, 2019 and 2018, respectively. The consolidated financial statements for the year ended December 31, 2019 and 2018 have been restated to reflect the correction of the misstatements. As a result, the Company has restated its consolidated financial statements in accordance with ASC 250, Accounting Changes and Error Corrections (the “restated consolidated financial statements”). The impact of these restatements on the consolidated financial statements as previously reported is summarized below: December 31, 2019 December 31, (as previously 2019 (as reported) restated) Other receivables and prepayments $ 6,765* $ 5,904 Total assets 140,578 139,717 Additional paid-in capital 117,804 116,943 Total TROOPS, Inc. shareholders' equity 120,430 119,569 Total shareholders' equity 120,626 119,765 December 31, 2019 December 31, (as previously 2019 (as reported) restated) Additional Paid-in Capital For the year ended December 31, 2018 - Shares issued for compensation plan $ 1,987 $ 526 Balance, December 31, 2018 116,648 115,187 For the year ended December 31, 2019 - Shares issued for compensation plan — 600 Balance, December 31, 2019 117,804 116,943 * Other receivables and prepayments of Boca amounting $37 was reclassified to discontinued operations (note 3).

Quantitative and qualitative di

Quantitative and qualitative disclosure about market risk	12 Months Ended
Quantitative and qualitative disclosure about market risk	Dec. 31, 2022
Quantitative and qualitative disclosure about market risk
Quantitative and qualitative disclosure about market risk	Note 23 - Quantitative and qualitative disclosure about market risk Concentration of credit risk Credit risk is one of the most significant risks for the Company’s business and arise principally in lending activities. Credit risk on loans receivable is controlled by the application of credit approvals, limits and monitoring procedures. To minimize credit risk, the Company requires collateral primarily in the form of rights to property. The provision for loan losses is maintained at a level considered adequate to provide for losses that can be reasonably anticipated. Management performs a quarterly evaluation of the adequacy of the provision. The provision is based on the Company’s past loan loss history, known and inherent risks of the borrower, adverse situations that may affect the borrower’s ability to repay, the estimated value of any underlying collateral, current economic conditions and other relevant factors. This evaluation is inherently subjective as it requires material estimates that may be susceptible to significant revision as more information becomes available. The Company originates loans to customers located primarily in Hong Kong. This geographic concentration of credit exposes the Company to a higher degree of risk associated with this economic region. Prior to January 1, 2020, the Company mainly reflects the “probability of default” by the customer on its contractual obligations and considers the current financial position of the customer and the exposures to the customer and its likely future development. For individual customers, the Company uses standard approval procedures to manage credit risk for personal loans. The Company adopted Accounting Standard Update (ASU) 2016-13, Financial Instruments-Credit Losses (codified as Accounting Standard Codification Topic 326), since January 1, 2020, which requires measurement and recognition of current expected credit losses for financial instruments held at amortized cost. The Company’s loans receivable and interest receivable are within the scope of ASC Topic 326. The reversal of provision for loan losses of $0.97 million, provision for loan losses of $1.39 million and $1.98 million was recognized for the years ended December 31, 2022, 2021 and 2020, respectively. The Company’s accounts receivable, loans receivable, interest receivable, other receivables and prepayments and deposit for acquisition of a subsidiary are within the scope of ASC Topic 326. To estimate expected credit losses as of December 31, 2022, the Company has conducted an assessment of expected credit loss of loan and interest receivables (“Financial Assets”) held by the Company and together with its subsidiaries. The Financial Assets are outstanding loans receivable from the money lending business in a total amount of HKD97,888,522 (“Principal”) and HKD28,613 (“Interest”) respectively. Movement of the provision for loan losses and interest receivable are as follows: For the years ended December 31, 2022 2021 Balance as of January 1 $ 3,558 $ 2,172 Provisions for doubtful accounts Personal loans 1 450 Corporate loans 1 1,428 Write offs (513) — Recoveries of amounts previously charged off (975) (492) Changes due to foreign exchange — — Balance as of December 31 2,072 3,558 Movement of the Provision for account receivable, other receivables and prepayments, deposit for acquisition of a subsidiary are as follows: For the years ended December 31, 2022 2021 Balance as of January 1 $ 132 $ 39 Provisions for doubtful accounts 3 93 Write offs — — Recoveries of amounts previously charged off — — Changes due to foreign exchange — — Balance as of December 31 135 132 As of December 31, 2022, the loans receivable due from 4 customers accounted for 11%, 14%, 20% and 23% of total loan receivable. As of December 31, 2022, no loan receivable is due from Victor Or and accounted for more than 10% of total loan balance. As of December 31, 2021, the loans receivable due from 4 customers accounted for 11%, 15%, 21% and 26% of total loan receivable. As of December 31, 2021, no loan receivable is due from Victor Or and accounted for more than 10% of total loan balance. Concentration of customer Revenue from 2 major customers accounted for 18% and 13% of the Company’s total revenues, for the year ended December 31, 2022. No other single customer accounted for more than 10% of the Company’s total revenues, for the year ended December 31, 2022. Revenue from 2 major customers accounted for 17% and 10% of the Company’s total revenues, for the year ended December 31, 2021. No other single customer accounted for more than 10% of the Company’s total revenues, for the year ended December 31, 2021. Concentration of geographic area The Company does not allocate its assets located and expenses incurred outside Hong Kong to its reportable segments because these assets and activities are managed at a corporate level (Note 19). Geographic area data is based on product shipment destination. In accordance with the enterprise-wide disclosure requirements of the accounting standard, the Company’s net revenue from external customers by geographic areas is as follows: For the year ended December 31, 2022 2021 2020 Hong Kong 3,595 3,489 4,235 Australia 278 194 58 Total $ 3,873 $ 3,683 $ 4,293 Concentration of supplier Cost from 1 major supplier accounted for 14% of the Company's total cost of revenues, for the year ended December 31, 2022. No other single supplier accounted for more than 10% of the Company's total cost of revenues, for the year ended December 31, 2022. Cost from 1 major supplier accounted for 15% of the Company's total cost of revenues, for the year ended December 31, 2021. No other single supplier accounted for more than 10% of the Company's total cost of revenues, for the year ended December 31, 2021. Concentration of deposit institution of cash and bank deposit As of December 31, 2022 and 2021, majority of the Company’s cash is deposited in banks located in Hong Kong. In Hong Kong, Deposit Protection Scheme is in place which protects eligible deposits held with banks in Hong Kong. Hong Kong Deposit Protection Board will compensate up to a limit of HKD500,000 to each depositor if the bank which hold eligible deposits fails. As of March 31, 2023, the Company had $3.18 million cash and bank deposits. The Company held seven bank accounts with total amount of $0.13 million cash deposited in Alpen Baruch Bank Limited which is an international bank situated in Vanuatu. There is no Deposit Protection Scheme in place which protects eligible deposits held with banks in Vanuatu. As of December 31, 2022, the Company had $2.95 million cash and bank deposits. The Company held seven bank accounts with total amount of $0.23 million cash deposited in Alpen Baruch Bank Limited which is an international bank situated in Vanuatu. There is no Deposit Protection Scheme in place which protects eligible deposits held with banks in Vanuatu. Eligible deposits include all types of ordinary deposits such as current accounts, savings accounts, secured deposits and time deposits with a maturity not exceeding five years. Eligible deposits are protected regardless of the currency in which the deposits are denominated. Foreign currency risk Certain transactions of the Company are denominated in HKDs which is different from the functional currency of the Company, and therefore the Company is exposed to foreign currency risk. As the HKD is currently pegged to the USD, management considers that there is no significant foreign currency risk arising from the Company’s monetary assets denominated in USD. The Company currently does not have a foreign currency hedging policy. However, the management monitors foreign exchange exposure and will consider hedging significant foreign exchange exposure should the need arise.

Employee pension

Employee pension	12 Months Ended
Employee pension	Dec. 31, 2022
Employee pension
Employee pension	Note 24 – Employee pension Regulations in the PRC require the Company to contribute to a defined contribution retirement plan for all permanent employees. The PRC government is responsible for the pension liability to these retired employees. The Company is required to make monthly contributions to the state retirement plan at 20% of the base requirement for all permanent employees. Different geographic locations have different base requirements. The Company’s subsidiaries incorporated in Hong Kong participated in defined contribution Mandatory Provident Fund (the “MPF Scheme”) under the Mandatory Provident Fund Schemes Ordinance, for all of its employees in Hong Kong. The Company is required to contribute The Company’s subsidiary incorporated in Australia participated in defined contribution retirement plan for all permanent employees under Superannuation Schemes. The Company is required to contributions 9.5% of the monthly salaries for all Australia based employees to the Superannuation Schemes (subject to a cap). Total pension expense incurred by the Company from continuing operations was $22, $32 and $20 for the years ended December 31, 2022, 2021 and 2020, respectively. Total pension expense incurred by the Company from discontinued operations was $nil, $nil and $4 for the years ended December 31, 2022, 2021 and 2020, respectively.

Subsequent events

Subsequent events	12 Months Ended
Subsequent events	Dec. 31, 2022
Subsequent events
Subsequent events	Note 25 – Subsequent events The Company has analyzed its operations subsequent to December 31, 2022, through the date of this report and have determined that the Company does not have any material subsequent events to disclose in these unaudited condensed consolidated financial statements.

Summary of significant accoun_2

Summary of significant accounting policies (Policies)	12 Months Ended
Summary of significant accounting policies (Policies)	Dec. 31, 2022
Summary of significant accounting policies
Basis of presentation and principle of consolidation	Basis of presentation and principle of consolidation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and include the financial statements of the Company and all its majority-owned subsidiaries that require consolidation. Intercompany transactions and balances have been eliminated in the consolidation. The following entities were consolidated as of December 31, 2022: Place incorporated Ownership percentage TROOPS, Inc. Cayman Islands Parent Company SGOCO International (HK) Limited Hong Kong 100 % Beijing SGOCO Image Technology Co., Ltd. Beijing, China 100 % Giant Financial Services Limited (“GFS”) Samoa 100 % Apiguru Pty Ltd. (“Apiguru”) Australia 100 % Giant Connection Limited Republic of Seychelles 100 % Giant Credit Limited (“GCL”) Hong Kong 100 % 11 Hau Fook Street Limited Hong Kong 100 % Paris Sky Limited Marshall Islands 100 % Vision Lane Limited British Virgin Islands 100 % Suns Tower Limited (Formerly known as First Asia Tower Limited) (“Suns Tower”) Hong Kong 100 % First Asia Finance Limited (“FAF”) Hong Kong 100 %
Use of estimates	Use of estimates Preparing consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions affecting the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The more significant areas requiring the use of management’s estimates and assumptions include, but are not limited to, revenue recognition, the collectability of its receivables, the fair value and accounting treatment of certain financial instruments, the valuation and recognition of share-based compensation arrangements, fair value of assets and liabilities acquired in business combination, useful life of intangible assets, assessment of impairment of long-lived assets, intangible assets and goodwill , deferred tax liability and deferred tax valuation allowance. Management bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Accordingly, actual results may differ significantly from these estimates.
Business combinations	Business combinations The Company accounts for its business combinations using the acquisition method of accounting in accordance with Accounting Standards Codification ("ASC") 805 "Business Combinations." The cost of an acquisition is measured as the aggregate of the acquisition date fair values of the assets transferred and liabilities incurred by the Company to the sellers and equity instruments issued. Transaction costs directly attributable to the acquisition are expensed as incurred. Identifiable assets and liabilities acquired or assumed are measured separately at their fair values as of the acquisition date, irrespective of the extent of any non-controlling interests. The excess of (i) the total costs of acquisition, fair value of the non-controlling interests and acquisition date fair value of any previously held equity interest in the acquiree over (ii) the fair value of the identifiable net assets of the acquiree is recorded as goodwill. If the cost of acquisition is less than the fair value of the net assets of the subsidiary acquired, the difference is recognized directly in the consolidated statements of comprehensive income. During the measurement period, which can be up to one year from the acquisition date, the Company may record adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the values of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the consolidated statements of comprehensive income. In a business combination achieved in stages, the Company re-measures the previously held equity interest in the acquiree immediately before obtaining control at its acquisition-date fair value and the re-measurement gain or loss, if any, is recognized in the consolidated statements of comprehensive income. When there is a change in ownership interests that result in a loss of control of a subsidiary, the Company deconsolidates the subsidiary from the date control is lost. Any retained non-controlling investment in the former subsidiary is measured at fair value and is included in the calculation of the gain or loss upon deconsolidation of the subsidiary. For the Company’s majority-owned subsidiaries, a non-controlling interest is recognized to reflect the portion of their equity which is not attributable, directly or indirectly, to the Group. “Net income (loss)” on the consolidated income statements includes the “net loss attributable to non-controlling interests”. The cumulative results of operations attributable to non-controlling interests are also recorded as non-controlling interests in the Company’s consolidated balance sheets.
Discontinued operations	Discontinued operations A component of a reporting entity or a group of components of a reporting entity that are disposed or meet the criteria to be classified as held for sale, such as the management, having the authority to approve the action, commits to a plan to sell the disposal group, should be reported in discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results. Discontinued operations are reported when a component of an entity comprising operations and cash flows that can be clearly distinguished, operationally and for financial reporting purposes, from the rest of the entity is classified as held for disposal or has been disposed of, if the component either (1) represents a strategic shift or (2) have a major impact on an entity’s financial results and operations. In the consolidated statement of operations, result from discontinued operations is reported separately from the income and expenses from continuing operations and prior periods are presented on a comparative basis. Assets and liabilities of the discontinued operations are classified as held for sale when the carrying amounts will be recovered principally through a sale transaction. When dispose a subsidiary, the Company deconsolidates the subsidiary from the date control is lost. Any retained non-controlling investment in the former subsidiary is measured at fair value and is included in the calculation of the gain or loss upon deconsolidation of the subsidiary.
Plant and equipment	Plant and equipment Plant and equipment is stated at cost less accumulated depreciation and accumulated impairment losses, if any. Expenditures for maintenance and repairs are charged to earnings as incurred. Major additions are capitalized. When assets are retired or otherwise disposed of, the related cost and accumulated depreciation are removed from the respective accounts, and any gain or loss is included in operations. Depreciation of plant and equipment is provided using the straight-line method for substantially all assets with estimated lives as follows: Leasehold land and buildings Leasehold land and buildings are depreciated over the shorter of the unexpired term of lease and their estimated useful lives, being no more than 50 years Machinery and equipment 4- 10 Leasehold improvements 5 years Vehicles and office equipment 4- 5 Construction in progress represents capital expenditures for direct costs of construction or acquisition and the interest expenses directly related to the construction. Capitalization of these costs ceases and the construction in progress is transferred to the appropriate category of property, plant and equipment when substantially all the activities necessary to prepare the assets for their intended use are completed. Construction in progress is not depreciated.
Intangible assets	Intangible assets Intangible assets acquired through business acquisitions are recognized as assets separate from goodwill if they satisfy either the "contractual-legal" or "separability" criterion. Purchased intangible assets and intangible assets arising from the acquisitions of subsidiaries are recognized and measured at fair value upon acquisition. Separately identifiable intangible assets that have determinable lives continue to be amortized over their estimated useful lives using the straight-line method as follows: Trademarks of GFS 10 years Service Contracts of GFS 1 year Non-competition agreements of Apiguru 3 years Separately identifiable intangible assets to be held and used are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. Determination of recoverability is based on an estimate of undiscounted future cash flows resulting from the use of the asset and its eventual disposition. Measurement of any impairment loss for identifiable intangible assets is based on the amount by which the carrying amount of the assets exceeds the fair value of the assets.
Goodwill	Goodwill Goodwill represents the excess of the purchase consideration over the fair value of the identifiable tangible and intangible assets acquired and liabilities assumed of the acquired entity as a result of the Company’s acquisitions of interests in its subsidiaries. Goodwill is not amortized but is tested for impairment on an annual basis, or more frequently if events or changes in circumstances indicate that it might be impaired. The Company first assesses qualitative factors to determine whether it is necessary to perform the two-step quantitative goodwill impairment test. In the qualitative assessment, the Company considers primary factors such as industry and market considerations, overall financial performance of the reporting unit, and other specific information related to the operations. Based on the qualitative assessment, if it is more likely than not that the fair value of each reporting unit is less than the carrying amount, the quantitative impairment test is performed. The Company annually, or more frequently if the Company believes indicators of impairment exist, reviews the carrying value of goodwill to determine whether impairment may exist. In performing the two-step quantitative impairment test, the first step compares the fair values of each reporting unit to its carrying amount, including goodwill. If the fair value of each reporting unit exceeds its carrying amount, goodwill is not considered to be impaired and the second step will not be required. If the carrying amount of a reporting unit exceeds its fair value, the second step compares the implied fair value of goodwill to the carrying value of a reporting unit’s goodwill. The implied fair value of goodwill is determined in a manner similar to accounting for a business combination with the allocation of the assessed fair value determined in the first step to the assets and liabilities of the reporting unit. The excess of the fair value of the reporting unit over the amounts assigned to the assets and liabilities is the implied fair value of goodwill. This allocation process is only performed for the purposes of evaluating goodwill impairment and does not result in an entry to adjust the value of any assets or liabilities. An impairment loss is recognized for any excess in the carrying value of goodwill over the implied fair value of goodwill. Application of a goodwill impairment test requires significant management judgment, including the identification of reporting units, assigning assets, liabilities and goodwill to reporting units, and determining the fair value of each reporting unit. Goodwill arises from our two reporting units: the financial technology solutions and services and the money lending services. The Company performs its annual impairment tests on December 31 of each year.
Warrant liability	Warrant liability For warrants that are not indexed to the Company’s stock, the Company records the fair value of the issued warrants as a liability at each balance sheet date and records changes in the estimated fair value as a non-cash gain or loss in the consolidated statement of operations and comprehensive income. The warrant liability is recognized in the balance sheet at the fair value (level 3). The fair value of these warrants has been determined using the Monte-Carlo simulation model. The Monte-Carlo simulation model provides for assumptions regarding volatility, call and put features and risk-free interest rates within the total period to maturity.
Impairment of long-lived assets other than goodwill	Impairment of long-lived assets other than goodwill The Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to the future undiscounted net cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets.
Restricted cash	Restricted cash The Company adopted Accounting Standards Update (“ASU”) No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash, (“ASU 2016-18”), effective January 1, 2018 using the retrospective transition method and included all restricted cash with cash and cash equivalent when reconciling beginning-of-period and end-of-period total amounts presented in the consolidated statements of cash flows. The Company has none of restricted cash as of December 31, 2022 and 2021.
Accounts receivable	Accounts receivable Receivables include trade accounts due from customers and other receivables such as cash advances to employees, related parties and third parties and advances to suppliers. Management reviews the composition of accounts receivable and analyzes historical bad debts, customer concentration, customer credit worthiness, current economic trends and changes in customer payment patterns to determine if the allowance for doubtful accounts is adequate. An estimate for doubtful accounts is made when collection of the full amount is no longer probable. Delinquent account balances are written-off after management has determined that the likelihood of collection is not probable and known bad debts are written off against the allowance for doubtful accounts when identified. As of December 31, 2022 and 2021, the Company determined that no allowance was necessary.
Other receivables , prepayments and deposits	Other receivables , prepayments and deposits Other receivables and prepayments primarily include rental deposit, utilities deposit, prepaid employees’ compensation. Management reviews the composition of other receivables and prepayment and determines if an allowance for doubtful accounts is needed. A provision for doubtful accounts is made when collection of the full amount is no longer probable. As of December 31, 2022 and 2021 there was $135 and $132 allowance for uncollectible other receivables, prepayments and deposits, respectively. Management believes that the remaining other receivables and prepayments are collectible.
Loans receivables, net	Loans receivables, net Loans receivable primarily represent loan amounts due from customers. Loans receivable are recorded at unpaid principal balances net of provision that reflects the Company’s best estimate of the amounts that will not be collected. Management anticipates no significant early settlement of loans receivable as of reporting date. As of December 31, 2022 and 2021, there was $2,072 and $3,558 allowance for uncollectible loan receivables, respectively. Management believes that the remaining accounts receivable are collectible.
Provision for loan losses	Provision for loan losses The provision for loan losses is increased by charges to income and decreased by charge offs (net of recoveries). Recoveries represent subsequent collection of amounts previously charged-off. The increase in provision for loan losses is the netting effect of “reversal” and “provision” for both business and personal loans. If the ending balance of the provision for loan losses after any charge offs (net of recoveries) is less than the beginning balance, it will be recorded as a “reversal”; if it is larger, it will be recorded as a “provision” in the provision for loan loss. The netting amount of the “reversal” and the “provision” is presented in the statements of comprehensive loss. The provision consists of specific and general components. The specific component consists of the amount of impairment related to loans that have been evaluated on an individual basis, and the general component consists of the amount of impairment related to loans that have been evaluated on a collective basis. Loans are considered impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts when due according to the contractual terms of the loan agreement. Loans for which the terms have been modified resulting in a concession, and for which the borrower is experiencing financial difficulties, are considered troubled debt restructurings (“TDRs”). The Company recognizes a charge-off when management determines that full repayment of a loan is not probable. The primary factor in making that determination is the potential outcome of a lawsuit against the delinquent debtor. The Company will recognize a charge-off when the Company loses contact with the delinquent borrower for more than one year or when the court rules against the Company to seize the collateral asset of the delinquent debt from either the guarantor or borrower. In addition, when the recoverability of the delinquent debt is highly unlikely, the senior management team will go through a stringent procedure to approve a charge-off. Management estimates the provision balance required using past loan loss experience, information about specific borrower situations and estimated collateral values, economic conditions, and other factors. Allocations of the provision may be made for specific loans, but the entire provision is available for any loan that, in management’s judgment, should be charged-off. The provision for loan losses is maintained at a level believed to be reasonable by management to absorb probable losses as of each balance sheet date. The provision is based on factors such as an assessment of individual loans and actual loss. The Company evaluates its provision for loan losses on a quarterly basis or more often as necessary.
Interest receivable	Interest receivable Interest receivable are accrued and credited to income as earned but not received. The Company determines a loan past due status by the number of days that have elapsed since a borrower has failed to make a contractual interest or principal payment. Accrual of interest is generally discontinued when reasonable doubt exists as to the full, timely collection of interest or principal. Additionally, any previously accrued but uncollected interest is reversed. Subsequent recognition of income occurs only to the extent payment is received, subject to management’s assessment of the collectability of the remaining interest and principal. Loans are generally restored to an accrual status when it is no longer delinquent and collectability of interest and principal is no longer in doubt and past due interest is recognized at that time.
Fair value of financial instruments	Fair value of financial instruments In August 2018, the FASB issued ASU 2018-13, "Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement" ("ASU 2018-13"). ASU 2018-13 removes, modifies and adds certain disclosure requirements in Topic 820 "Fair Value Measurement". ASU 2018-13 eliminates certain disclosures related to transfers and the valuations process, modifies disclosures for investments that are valued based on net asset value, clarifies the measurement uncertainty disclosure, and requires additional disclosures for Level 3 fair value measurements. ASU 2018-13 is effective for the Company for annual and interim reporting periods beginning July 1, 2020. The Company does not believe the adoption of this ASU will have a material effect on the Company's consolidated financial statements. The Company’s financial instruments primarily consist of cash and cash equivalents, loans receivable, interest receivable, accounts receivable, accounts payable, other receivables, other payables and accrued liabilities, loans, customer deposits and convertible notes. As of the balance sheet dates, the estimated fair value of these financial instruments were not materially different from their carrying values as presented due to the short maturities of these instruments and that the interest rates on the borrowings approximate those that would have been available for loans for similar remaining maturity and risk profile at the respective reporting periods. The fair value measurement accounting standard defines fair value, establishes a three-level valuation hierarchy for disclosures of fair value measurement and enhances disclosure requirements for fair value measures. The three levels are defined as follows: ● Level 1 ● Level 2 ● Level 3 The following table sets forth by level within the fair value hierarchy our financial assets and liabilities that were accounted for at fair value on a recurring basis: Carrying Value at December 31, Fair Value Measurement at 2022 December 31, 2022 Level 1 Level 2 Level 3 Warrant derivative liability $ — $ — $ — $ — A summary of changes in Warrant derivative liability for the years ended December 31, 2021 and 2020 was as follows: Amount Balance at January 1, 2020 $ 253 Change in fair value of warrant derivative liability (4) Balance at December 31, 2020 249 Change in fair value of warrant derivative liability (249) Balance at December 31, 2021 $ — The fair value of the outstanding warrants was calculated using the Monte-Carlo simulation Model with the following assumptions at inception and on subsequent valuation date: Warrants December 31, 2020 Market price per share (USD/share) $ 1.45 Exercise price (USD/share) 1.00 Risk free rate 0.07 % Dividend yield — % Expected term/Contractual life (years) 0.26 Expected volatility 64.06 %
Comprehensive income	Warrants December 31, 2020 Market price per share (USD/share) $ 1.45 Exercise price (USD/share) 1.00 Risk free rate 0.07 % Dividend yield — % Expected term/Contractual life (years) 0.26 Expected volatility 64.06 %
Revenue recognition	Revenue recognition The Company adopted Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASC 606”) from January 1, 2018, using the modified retrospective method. Revenues for the years ended December 31, 2022, and 2021 and 2020 were presented under ASC 606, and revenues for the year ended December 31, 2017 was not adjusted and continue to be presented under ASC Topic 605, Revenue Recognition. There was no impact on the Company’s opening balance of retained earnings as of January 1, 2018. Pursuant to ASC606-10-15-2, the interest income generated by the Company is scoped out of ASC606. In accordance with ASC 606, revenues are recognized when control of the promised goods or services is transferred to the Company’s customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. In determining when and how much revenue is recognized from contracts with customers, the Company performs the following five-step analysis: (1) identify the contract(s) with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; (5) recognize revenue when (or as) the entity satisfies a performance obligation. Revenues are recognized when control of the promised goods or services is transferred to the customers, which may occur at a point in time or over time depending on the terms and conditions of the agreement, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. Financial technology solutions and services The Company provides SaaS and app development service to its customers to deploy the Company’s online platform, which may occur over time depending on the terms and conditions of the agreement, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. Service income from project-based consulting services is recognized based on the output methods, including surveys of performance completed to date or milestones reached of each phase only when the Company has an enforceable right to payment for performance completed to date. Maintenance and support type service income is recognized separately from the main contract since such service was not treated as performance obligation of the contract. Energy saving services Boca enters into a ten-year contract with a customer to provide air conditioning to certain office buildings using its proprietary Phase Change Material Thermal Energy Storage System together with Ultra-High Efficiency Boca Hybrid Power Chiller Plant (the “Plant”). Boca is entitled to all actual electricity running cost saving in 0% to 40% in whole on a quarterly basis, net of a rebate of 2% to 20% depending on the actual electricity running cost saving. Boca accounts for the series of distinct services provided over the ten-year contract as a single performance obligation satisfied over time. Boca recognizes revenues, being entitlement to actual electricity running cost saving achieved, net of rebates, immediately as it relates to distinct services that have already been performed. As of August 31, 2020, operations of Boca to be disposed of were reported as discontinued operations. Accordingly, revenues related to Boca have been reclassified in the consolidated financial statements as discontinued operations for all periods presented. Interest on loans receivable Interest on loans receivable is accrued monthly in accordance with their contractual terms and recorded in accrued interest receivable. The Company does not charge prepayment penalties. Additionally, any previously accrued but uncollected interest is reversed and accrual is discontinued, when reasonable doubt exists as to the full, timely collection of interest or principal. Interest income on impaired loans receivable is recorded when cash payment for interest is received by the Company. Property lease and management Minimum contractual rental income related to property leases are recognized on a straight-line basis over the terms of the respective leases. Straight-line rental revenue commences when the tenant assumes control of the leased premises. In accordance with the Company’s standard lease terms, rental payments are generally due on a monthly basis. Tenant recovery revenue includes payments from tenants as reimbursements for management fees and utilities, etc., which are recognized when the related expenses are incurred. Rental from office lease and tenant recovery revenue together is recorded as “Property lease and management.” Below is the summary presenting the Company’s revenues from continuing operation disaggregated by products and services and timing of revenue recognition: Year ended December 31, Revenue by recognition over time 2022 2021 2020 Revenue by recognition over time $ 3,875 $ 3,683 $ 4,293 $ 3,875 3,683 $ 4,293 Year ended December 31, Revenue by major product line 2022 2021 2020 Interest on loans $ 2,451 $ 1,673 $ 1,667 Property lease and management 1,106 1,068 1,130 Financial technology solutions and services 318 942 1,496 $ 3,875 3,683 $ 4,293 Contract Balances For the years ended December 31, 2022 and 2021, the Company did not have any significant incremental costs of obtaining contracts with customers incurred and/or costs incurred in fulfilling contracts with customers within the scope of ASC Topic 606, that shall be recognized as an asset and amortized to expenses in a pattern that matches the timing of the revenue recognition of the related contract. Other than the interest receivables of the 180-day loans held by the Company which are accrued by the Company but unbilled until the loans mature, amounted to $nil and $nil as of December 31, 2022 and 2021, respectively. The Company does not have any other contract assets (unbilled receivables) since revenue is recognized when the performance obligation is fulfilled and the payment from customers is not contingent on a future event. Advances received from customers related to unsatisfied performance obligations are recorded as contract liabilities (advance from customers), which will be recognized as revenues upon the satisfaction of performance obligations through the transfer of related promised goods and services to customers. The Company’s contract liabilities consist of rental receipt in advance related to rent paid in advance for leasing office. Below is the summary presenting the movement of the Company’s contract liabilities for the years ended December 31, 2022, 2021 and 2020: Rental receipt in advance Balance as of January 1, 2020 $ 8 Revenue recognized from beginning contract liability balance (8) Advances received from customers related to unsatisfied performance obligations 3 Balance as of December 31, 2020 $ 3 Revenue recognized from beginning contract liability balance (3) Advances received from customers related to unsatisfied performance obligations 7 Balance as of December 31, 2021 $ 7 Revenue recognized from beginning contract liability balance (7) Advances received from customers related to unsatisfied performance obligations 10 Balance as of December 31, 2022 $ 10 The contract liabilities were grouped into other payables and accrued liabilities (note 14).
Allocation to Remaining Performance Obligations	Allocation to Remaining Performance Obligations The Company has elected to apply the practical expedient in paragraph ASC Topic 606-10-50-14 and did not disclose the information related to transaction price allocated to the performance obligations that are unsatisfied or partially unsatisfied as of December 31, 2022, because either the performance obligation of the Company’s contracts with customers has an original expected duration of one year or less or the Company has a right to consideration from a borrower or a customer in an amount that corresponds directly with the value to the borrower or the customer of the Company’s performance completed to date, therefore the Company may recognize revenue in the amount to which the Company has a right to invoice or collect.
Income taxes	Income taxes The Company accounts for income taxes in accordance FASB ASC Section 740. The Company is subject to the tax laws of the PRC and Hong Kong (a special administrative region of PRC). The charge for taxation is based on actual results for the year as adjusted for items that are non-assessable or disallowed; and it is calculated using tax rates that have been enacted or substantively enacted by the balance sheet date. The Company is not currently subject to tax in the Cayman Islands or the British Virgin Islands. Deferred taxes are accounted for using the asset and liability method in respect of temporary differences arising from differences between the carrying amount of assets and liabilities in the Company’s unaudited condensed consolidated financial statements and the corresponding tax basis used in the computation of assessable tax profit of loss. In principle, deferred tax liabilities are recognized for all taxable temporary differences. Deferred tax assets are recognized to the extent that it is probable that future taxable income can be utilized with prior net operating loss carry forwards. Deferred tax is calculated using tax rates that are expected to apply to the period when the asset is realized, or the liability is settled. Deferred tax is charged or credited in the statement of operations, except when it is related to items credited or charged directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Current income taxes are provided for in accordance with the laws of the relevant taxing authorities. An uncertain tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that has a greater than 50% likelihood of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. Penalties and interest incurred related to uncertain tax positions are classified in income tax expense in the period incurred. During the years ended December 31, 2022, 2021 and 2020, the Company has not incurred any interest related to income taxes. Our PRC entities did not have tax liability as of December 31, 2022. U.S. GAAP also provides guidance on de-recognition, classification, interest and penalties, accounting in interim periods, disclosures and transition. Tax returns filed for the years ended December 31, 2018 to 2022 in the PRC and Hong Kong are subject to examination by the applicable tax authorities.
Share-based compensation	Share-based compensation The Company accounts for equity instruments issued in exchange for the receipt of goods or services from consultants in accordance with the accounting standards regarding accounting for stock-based compensation and accounting for equity instruments that are issued to other than employees for acquiring or in conjunction with selling goods or services. Costs are measured at the estimated fair market value of the consideration received or the estimated fair value of the equity instruments issued, whichever is more reliably determinable. The value of equity instruments issued for consideration other than employee services is determined on the earlier of a performance commitment or completion of performance by the provider of goods or services as defined by these accounting standards. In the case of equity instruments issued to consultants, the fair value of the equity instrument is recognized over the term of the consulting agreement if there is a term. The Company accounts for equity instruments issued in exchange for the receipt of services from employees in the financial statements based on their fair values at the date of grant. The fair value of awards is amortized over the requisite service period.
Financial guarantee	Financial guarantee A provision for possible losses to be absorbed by the Company for financial guarantees it provides is recorded as an accrued liability when the guarantees are made and recorded as “Allowance on guarantee” in the consolidated balance sheets. This accrued liability represents probable losses and is increased or decreased by accruing a “Allowance (reversal of allowance) on financial guarantee” throughout the terms of the guarantees as necessary when additional relevant information becomes available. The methodology used to estimate the liability for possible guarantee losses considers the guarantee contract amounts and a variety of factors, which include, depending on the counterparty, the latest financial position and performance of the borrowers, actual defaults, estimated future defaults, historical loss experience, estimated value of collateral or guarantees the customers or third parties offered, and other economic conditions, such as economic trends in the area and the country. The estimates are based upon information available at the time the estimates are made. It is possible that prior experience and default history of the borrowers are not indicative of future losses on guarantees made. Any increase or decrease in the provision would affect the Company’s consolidated income statements in future years.
Foreign currency translation	Foreign currency translation The reporting and functional currency of the Company is the U.S. Dollar. The functional currencies of its Hong Kong subsidiaries are the Hong Kong Dollar. The functional currency of its PRC subsidiaries is the RMB. The functional currencies of its Australia subsidiaries are the Australian Dollar (“AUD”). Results of operations and cash flow are translated at average exchange rates during the period, and assets and liabilities are translated at the exchange rate at the end of the period. Capital accounts are translated at their historical exchange rates when the capital transaction occurred. Translation adjustments resulting from this process are included in accumulated other comprehensive income. Transaction gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency are included in the results of operations as incurred. The balance sheet amounts with the exception of equity were translated using RMB6.96 and RMB6.38 to $1.00 at December 31, 2022 and 2021, respectively. The equity accounts were stated at their historical exchange rates. The average translation rates applied to the income and cash flow statement amounts for the years ended December 31, 2022, 2021 and 2020 were RMB6.73, RMB6.45, and RMB6.90 to $1.00, respectively. The balance sheet amounts with the exception of equity were translated using AUD 0.68 and AUD 0.73 to $1.00 as of December 31, 2022 and 2021, respectively. The equity accounts were stated at their historical exchange rates. The average translation rate applied to the income statement amounts for the years ended December 31, 2022, 2021 and 2020 were AUD0.70, AUD0.75 and AUD0.73 to $1.00, respectively.
Recently issued accounting pronouncements not yet adopted and Recent accounting pronouncements	Recently issued accounting pronouncements not yet adopted In March 2020, the FASB issued ASU No. 2020-03, Codification Improvements to Financial Instruments. The amendments in this Update are effective for all entities as of March 12, 2020 through December 31, 2022. The amendments related to Issue 1 (“Fair Value Option Disclosures”), Issue 2 (“Applicability of Portfolio Exception in Topic 820 to Nonfinancial Items”), Issue 4(“Cross-Reference to Line of-Credit or Revolving-Debt Arrangements Guidance in Subtopic 470-50”), and Issue 5 (“Cross-Reference to Net Asset Value Practical Expedient in Subtopic 820-10”) are conforming amendments. For public business entities, the amendments are effective upon issuance of this final Update. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years beginning after December 15, 2020. Early application is permitted. The amendment related to Issue 3 (“Disclosures for Depository and Lending Institutions”) is a conforming amendment that affects the guidance in the amendments in Accounting Standards Update 2019-04, Codification Improvements to Topic 326, Financial Instruments—Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments. That guidance relates to the amendments in 2016-01, Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. The effective date of Update 2019-04 for the amendments to Update 2016-01 is for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The amendments of Issues 6 (“Interaction of Topic 842 and Topic 326”) clarify that the contractual term of a net investment in a lease determined in accordance with Topic 842 should be the contractual term used to measure expected credit losses under Topic 326. The amendments of Issues 6 clarify that when an entity regains control of financial assets sold, an allowance for credit losses should be recorded in accordance with Topic 326. For entities that have not yet adopted the amendments related to Update 2016-13, the effective dates and the transition requirements for amendments of Issue 6 and Issue 7 (“Interaction of Topic 326 and Subtopic 860-20”) are the same as the effective date and transition requirements in Update 2016-13. For entities that have adopted the guidance in Update 2016-13, the amendments of Issue 6 and Issue 7 are effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. For those entities, the amendments should be applied on a modified-retrospective basis by means of a cumulative-effect adjustment to opening retained earnings in the statement of financial position as of the date that an entity adopted the amendments in Update 2016-13. The ASU is currently not expected to have a material impact on the consolidated financial statements. Recent accounting pronouncements In May 2019, the FASB issued ASU 2019-05, which is an update to ASU Update No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which introduced the expected credit losses methodology for the measurement of credit losses on financial assets measured at amortized cost basis, replacing the previous incurred loss methodology. The amendments in ASU 2016-13 added Topic 326, Financial Instruments—Credit Losses, and made several consequential amendments to the Codification. ASU 2016-13 also modified the accounting for available-for-sale debt securities, which must be individually assessed for credit losses when fair value is less than the amortized cost basis, in accordance with Subtopic 326-30, Financial Instruments— Credit Losses—Available-for-Sale Debt Securities. The amendments in this Update address those stakeholders’ concerns by providing an option to irrevocably elect the fair value option for certain financial assets previously measured at amortized cost basis. For those entities, the targeted transition relief will increase comparability of financial statement information by providing an option to align measurement methodologies for similar financial assets. Furthermore, the targeted transition relief also may reduce the costs for some entities to comply with the amendments in ASU 2016-13 while still providing financial statement users with decision-useful information. ASU 2019-05 is effective for the Company for annual and interim reporting periods beginning July 1, 2020. The Company evaluated the impact of ASU 2019 on its consolidated financial statements for the year ended December 31, 2022 (note 23). In August 2020, the FASB issued ASU No. 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40). The ASU simplifies the accounting for certain financial instruments with characteristics of liabilities and equity. The FASB reduced the number of accounting models for convertible debt and convertible preferred stock instruments and made certain disclosure amendments to improve the information provided to users. For public business entities that meet the definition of an SEC filer, excluding entities eligible to be smaller reporting companies as defined by the SEC, the guidance is effective for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. The Company has elected to adopt the amendments in these ASUs on January 1, 2021, and the adoption of these amendments did not have a material impact on the consolidated financial position and results of operations. The Company does not believe other recently issued but not yet effective accounting standards, if currently adopted, would have a material effect on the Company’s consolidated financial statements.

Summary of significant accoun_3

Summary of significant accounting policies (Tables)	12 Months Ended
Summary of significant accounting policies (Tables)	Dec. 31, 2022
Summary of significant accounting policies
Schedule of consolidated entities	Place incorporated Ownership percentage TROOPS, Inc. Cayman Islands Parent Company SGOCO International (HK) Limited Hong Kong 100 % Beijing SGOCO Image Technology Co., Ltd. Beijing, China 100 % Giant Financial Services Limited (“GFS”) Samoa 100 % Apiguru Pty Ltd. (“Apiguru”) Australia 100 % Giant Connection Limited Republic of Seychelles 100 % Giant Credit Limited (“GCL”) Hong Kong 100 % 11 Hau Fook Street Limited Hong Kong 100 % Paris Sky Limited Marshall Islands 100 % Vision Lane Limited British Virgin Islands 100 % Suns Tower Limited (Formerly known as First Asia Tower Limited) (“Suns Tower”) Hong Kong 100 % First Asia Finance Limited (“FAF”) Hong Kong 100 %
Schedule of assets with estimated useful lives	Leasehold land and buildings Leasehold land and buildings are depreciated over the shorter of the unexpired term of lease and their estimated useful lives, being no more than 50 years Machinery and equipment 4- 10 Leasehold improvements 5 years Vehicles and office equipment 4- 5
Schedule of Separately identifiable intangible assets that have determinable lives	Trademarks of GFS 10 years Service Contracts of GFS 1 year Non-competition agreements of Apiguru 3 years
Summary of changes in Warrant derivative liability	Carrying Value at December 31, Fair Value Measurement at 2022 December 31, 2022 Level 1 Level 2 Level 3 Warrant derivative liability $ — $ — $ — $ —
Schedule of changes in financial liabilities	Amount Balance at January 1, 2020 $ 253 Change in fair value of warrant derivative liability (4) Balance at December 31, 2020 249 Change in fair value of warrant derivative liability (249) Balance at December 31, 2021 $ —
Schedule of fair value of the outstanding warrants was calculated using the Monte-Carlo simulation Model	Warrants December 31, 2020 Market price per share (USD/share) $ 1.45 Exercise price (USD/share) 1.00 Risk free rate 0.07 % Dividend yield — % Expected term/Contractual life (years) 0.26 Expected volatility 64.06 %
Schedule of the Company's revenues disaggregated by products and services and timing of revenue recognition:	Year ended December 31, Revenue by recognition over time 2022 2021 2020 Revenue by recognition over time $ 3,875 $ 3,683 $ 4,293 $ 3,875 3,683 $ 4,293 Year ended December 31, Revenue by major product line 2022 2021 2020 Interest on loans $ 2,451 $ 1,673 $ 1,667 Property lease and management 1,106 1,068 1,130 Financial technology solutions and services 318 942 1,496 $ 3,875 3,683 $ 4,293
Summary of the movement of the Company's contract liabilities	Rental receipt in advance Balance as of January 1, 2020 $ 8 Revenue recognized from beginning contract liability balance (8) Advances received from customers related to unsatisfied performance obligations 3 Balance as of December 31, 2020 $ 3 Revenue recognized from beginning contract liability balance (3) Advances received from customers related to unsatisfied performance obligations 7 Balance as of December 31, 2021 $ 7 Revenue recognized from beginning contract liability balance (7) Advances received from customers related to unsatisfied performance obligations 10 Balance as of December 31, 2022 $ 10

Discontinued Operations (Tables

Discontinued Operations (Tables)	12 Months Ended
Discontinued Operations (Tables)	Dec. 31, 2022
Boca International Limited
Schedule of disposal groups, discontinued operations	The following table presents the components of discontinued operations reported in the consolidated balance sheets: As of December 31, 2019 Cash $ 35 Accounts receivable, net 25 Operating lease right-of-use assets, net 95 Other receivables and prepayments 37 Equipment 2,799 Intangible assets 2,377 Long-live asset subtotal 5,271 Assets held for sale 5,368 Classified as: — Current 97 — Non-current 5,271 Other payables and accrued liabilities $ 4,274 Operating lease liability, current 68 Operating lease liability, non-current 29 Deferred tax liabilities 594 Liabilities held for sale 4,965 Classified as: — Current 4,342 — Non-current 623 The following table presents the components of discontinued operations reported in the consolidated statements of comprehensive loss: For eight months ended August 31, 2020 Revenues $ 812 Cost of revenues (523) Operating expenses (363) Other expenses — Loss before provision for income taxes (74) Income tax credit 79 Gain (Loss) from discontinued operations, net of income taxes 5 The following table summarizes the net assets of Boca at the date of disposal: Date of disposal of 51% equity interest in Boca (August 31, 2020) Cash $ 2 Accounts receivable 186 Operating lease right-of-use assets, net 95 Other receivables and prepayments 37 Plant and equipment, net 2,837 Intangible assets, net 2,063 Long-live asset subtotal 4,900 Other payables and accrued liabilities (4,235) Operating lease liabilities (97) Deferred tax liabilities (516) Net assets of Boca upon disposal 372 51 % Interests in net assets of Boca being disposed of 189 Consideration 187 Loss on disposal of subsidiary (2)

Accounts receivable, net (Table

Accounts receivable, net (Tables)	12 Months Ended
Accounts receivable, net (Tables)	Dec. 31, 2022
Accounts receivable, net
Schedule of Accounts receivable, net	December 31, 2022 2021 Accounts receivable $ — $ 8 Allowance for doubtful accounts — — $ — $ 8

Loans receivable, net (Tables)

Loans receivable, net (Tables)	12 Months Ended
Loans receivable, net (Tables)	Dec. 31, 2022
Loans receivable, net
Schedule of loans receivable	December 31, 2022 2021 Loans receivable, gross Personal loans $ 7,622 $ 8,027 Corporate loans 7,000 6,167 Subtotal 14,622 14,194 Provision for loan losses (2,072) (3,558) Total loans receivable, net $ 12,550 $ 10,636 Less: classified as non-current loans receivable, net (4,170) (8,190) Total current loans receivable, net $ 8,380 $ 2,446
Schedule of loans receivable maturity analysis	For the year ending December 31, Amount 2023 $ 8,380 2024 4,165 2025 and thereafter 5 Total loans 12,550
Schedule of aging of loans receivable	December 31, 2022 2021 1‑89 days past due $ 1 $ — 90‑179 days past due — 1 180‑365 days past due — 1 Over 1 year past due * — 415 Total past due $ 1 $ 417 Loans without overdue 12,449 10,219 Total loans, net $ 12,550 $ 10,636
Schedule of Company's loan portfolio by categories	December 31, 2022 2021 Installment loans to individuals $ 421 $ 15 Real estate backed loan 6,419 6,221 Securities backed loan 3,035 1,617 Commercial loans 2,675 2,783 Total loans, net $ 12,550 $ 10,636

Other receivables, prepayment_2

Other receivables, prepayments and deposits (Tables)	12 Months Ended
Other receivables, prepayments and deposits (Tables)	Dec. 31, 2022
Other receivables, prepayments and deposits
Schedule of other receivables, prepayments and deposits	December 31, 2022 2021 Utility deposits $ 12 $ 10 Other receivables 77 47 Other prepayments 116 165 Other receivables, prepayments and deposits, net $ 205 $ 222

Acquisition of subsidiaries a_2

Acquisition of subsidiaries and deposits paid for acquisition of subsidiaries (Tables)	12 Months Ended
	Dec. 31, 2022
Boca International Limited
Schedule of Fair Value of Assets Acquired and Liabilities Assumed	Net liabilities acquired (including cash of $1 and other loan of $332) $ (337) Amortizable intangible assets Backlog contract (Note 3) 372 Proprietary technology (Note 3) 26,179 Goodwill 36,504 Deferred tax liabilities (6,638) Total $ 56,080 Total purchase price comprised of: – cash consideration (paid in fiscal 2015 in the form of refundable deposit) $ 52,000 – share-based consideration 4,080 Total $ 56,080
Century Skyway Limited
Schedule of Fair Value of Assets Acquired and Liabilities Assumed	Net liabilities acquired (including cash of $1 and accrued liabilities of $68) $ (67) Amortizable intangible assets Technologies 19,682 Goodwill 20,230 Deferred tax liabilities (4,920) Total $ 34,925 Total purchase price comprised of: – cash consideration (paid in fiscal 2016 in the form of refundable deposit) $ 32,600 – share-based consideration 2,325 Total $ 34,925
Giant Credit Limited ("GCL")
Schedule of Fair Value of Assets Acquired and Liabilities Assumed	Net assets acquired (including cash of $943, loans receivable of $670, interest receivables of $6, property, plant and equipment of $508 and income tax payable of $14) $ 2,113 Goodwill 248 Deferred tax liabilities (7) Total $ 2,354 Total purchase price comprised of: — share-based consideration $ 2,354 Total $ 2,354
Paris Sky Limited
Schedule of Fair Value of Assets Acquired and Liabilities Assumed	Net assets acquired Property, plant and equipment* $ 52,994 Allowance on guarantee (817) Other assets acquired (including cash of $1,957, other assets of $50, other payables of $170 and income tax payable of $4) 1,833 Deferred tax assets 116 Deferred tax liabilities (5,998) Total $ 48,128 Total purchase price comprised of: — share-based consideration $ 4,784 — 49% interest in Boca 23,699 — 49% interest in CSL 16,170 — promissory note 3,475 Total $ 48,128 * Property, plant and equipment acquired included leasehold land and buildings with a value of $53.00 million at the date of acquisition which are pledged against the banking facilities of HK$215.32 million ($27.61 million) of a company beneficially owned by Luk Lai Ching Kimmy (see (c) above). The property pledge (allowance on guarantee) was valued on the basis of estimation of the probability that the borrower would be unable to either repay the loan or fulfil the loan contract terms (the default risk) and the amount that would be recovered at events of default (the recovery rate).
Vision Lane Limited
Schedule of Fair Value of Assets Acquired and Liabilities Assumed	Net assets acquired (including cash of $1,122, loan receivables of $7,495, interest receivables of $151, property, plant and equipment of $1,095, other receivables of $20, accounts payable of $30, other payables of $607 and income tax payable of $81) $ 9,165 Goodwill 3,658 Deferred tax liabilities (124) Total $ 12,699 Total purchase price comprised of: – cash consideration ( $ 7,457 – share-based consideration 5,242 Total $ 12,699
GFS
Schedule of Fair Value of Assets Acquired and Liabilities Assumed	Net assets acquired (including cash of $981, other receivables and prepayments of $707, property, plant and equipment of $7, accrued liabilities of $29, other payables-related party of $662 and income tax payable of $387) $ 617 Intangible assets (including trademarks of $1,550 and backlog contracts of $2,786) 4,336 Goodwill 60,103 Deferred tax liabilities (715) Total $ 64,341 Total purchase price comprised of: – cash consideration (paid in fiscal 2019 in the form of deposit) $ 21,795 – consideration in the form of a promissory note (note) 28,473 – share-based consideration 14,073 Total $ 64,341 Note: The promissory note was issued to Mr. Or on January 31, 2020. The face value (principal) amount of $28.47 million is repayable by January 31, 2025, and bearing fixed interest at a rate of eight percent (8%) per annum. The Company has repaid the promissory note by several payments during 2020 and 2021, and it was fully settled by March 30, 2021.
Apiguru
Schedule of Fair Value of Assets Acquired and Liabilities Assumed	Net assets acquired (including cash of $28, account payable of $1, other payables of $7) $ 20 Intangible assets - non-competition agreement 39 Goodwill 539 Deferred tax liabilities (10) Total $ 588 Total purchase price comprised of: – share-based consideration $ 588 Total $ 588

Property, plant and equipment (

Property, plant and equipment (Tables)	12 Months Ended
Property, plant and equipment (Tables)	Dec. 31, 2022
Property, plant and equipment
Schedule of property, plant and Equipment, Net	December 31, 2022 2021 Leasehold land and buildings* $ 59,065 $ 58,927 Leasehold improvements 18 17 Machinery and equipment 17 14 Vehicles and office equipment 371 261 Total 59,471 59,219 Impairment (1,554) (1,415) Less: accumulated depreciation (9,262) (7,214) Plant and equipment, net $ 48,655 $ 50,590 * As of December 31, 2020, leasehold land and buildings (a) with a carrying value of $47.67 million are pledged against the banking facilities from OCBC Wing Hang Bank Limited of HK$50.00 million ($6.41 million) of the Company and (b) with a carrying value of $4.37 million are pledged against the banking facilities from United Overseas Bank Limited of HK$127.54 million ($16.35 million) of a company beneficially owned by Luk Lai Ching Kimmy (a shareholder of the Company holding 4.2% of the Company’s ordinary shares as of December 31, 2020). This loan was fully settled on October 21, 2021.

Intangible assets, net (Tables)

Intangible assets, net (Tables)	12 Months Ended
Intangible assets, net (Tables)	Dec. 31, 2022
Intangible assets, net
Schedule of Intangible Assets net	December 31, 2022 2021 Trademark $ 1,550 $ 1,550 Service Contract 2,786 2,786 Computer Software 37 42 Accumulated amortization (2,898) (2,883) Impairment (1,432) (1,432) Exchange difference (1) (2) Intangible assets, net $ 42 $ 61
Schedule of Amortization expenses related to intangible assets	For the years ending December 31, 2028 and 2023 2024 2025 2026 2027 thereafter $ $ $ $ $ $ Amortization expenses 13 5 5 5 5 9

Goodwill (Tables)

Goodwill (Tables)	12 Months Ended
Goodwill (Tables)	Dec. 31, 2022
Goodwill
Schedule of Goodwill	Balance as of January 1, 2020 $ 3,906 Acquisition of GFS 60,103 Acquisition of Apiguru 539 Impairment of goodwill in relation to GCL, Vision Lane and FAF (3,906) Impairment of goodwill in relation to GFS (55,535) Balance as of December 31, 2020 5,107 Impairment of goodwill in relation to GFS and Apiguru (4,740) Exchange difference 18 Balance as of December 31, 2021 385 Impairment of goodwill — Balance as of December 31, 2022 $ 385

Warrant derivative liability (T

Warrant derivative liability (Tables)	12 Months Ended
Warrant derivative liability (Tables)	Dec. 31, 2022
Warrant derivative liability
Schedule of Changes in Warrant Activity	Weighted Average Average Remaining Number of Exercise Contractual Warrants Price Term in Years Outstanding at January 1, 2020 817,489 1.00 1.26 Exercisable at January 1, 2020 817,489 $ 1.00 — Granted — — — Exercised (298,914) 1.00 — Surrendered — — — Expired — — — Outstanding at December 31, 2020 518,575 $ 1.00 0.26 Exercisable at January 1, 2021 518,575 $ 1.00 Granted — — — Exercised (518,575) $ 1.00 — Surrendered — — — Outstanding at December 31, 2021 — — —

Other payables and accrued li_2

Other payables and accrued liabilities (Tables)	12 Months Ended
Other payables and accrued liabilities (Tables)	Dec. 31, 2022
Other payables and accrued liabilities
Schedule of other payables and accrued liabilities	December 31, Note 2022 2021 Accrued professional fees $ 308 $ 234 Accrued staff costs and staff benefits 49 35 Rental deposits from tenants 205 191 Rental receipt in advance 10 7 Interest receipt in advance — 5 Advances from unrelated parties * 409 448 Others 279 689 $ 1,260 $ 1,609

Income taxes (Tables)

Income taxes (Tables)	12 Months Ended
Income taxes (Tables)	Dec. 31, 2022
Income taxes
Schedule of Components of income tax expense (benefit)	Year ended December 31, 2022 2021 2020 Income tax expenses $ (195) $ (188) $ (741) Deferred income tax benefit 251 314 1,050 $ 56 $ 126 $ 309
Schedule of company's effective tax rate	The following table reconciles the U.S. statutory rates to the Company’s effective tax rate for the years ended December 31, 2022, 2021 and 2020: Year ended December 31, 2022 2021 2020 U.S. Statutory rates 21.0 % 21.0 % 21.0 % Foreign income not recognized in USA (21.0) (21.0) (21.0) China income taxes (including Hong Kong SAR) 4.1 13.6 16.0 Australia income taxes (0.6) 1.1 — Impact of tax rate in other jurisdictions (1.3) (6.4) (5.0) Impact of tax reduction of Hong Kong profits tax 0.1 — — Tax effect of non-deductible expenses (0.4) (7.9) (10.4) Valuation allowance 4.2 0.4 (0.1) Under provision in respect of prior years (1.6) (2.2) (0.7) Other (a) 0.1 2.9 0.6 Effective income taxes 4.6 % 1.5 % 0.4 % Notes: (a) There were no other material items affecting the effective income tax for the years ended December 31, 2022, 2021 and 2020 except for (i) losses incurred by TROOPS of approximately $970 , $1,156 and $1,870 , respectively, where there is no tax in the Cayman Islands; and (ii) under-provision of Hong Kong profits tax as a result of certain non-deductible expenses in prior year.
Schedule of components of deferred income tax assets and liabilities	Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of deferred income tax assets and liabilities are as follows: December 31, 2022 December 31, 2021 Deferred income tax assets: Net operating loss carry-forward $ 531 $ 647 Less: Valuation allowance (531) (647) $ — $ — Deferred tax liabilities Intangible assets $ 8 $ 12 Property, plant and equipment 5,273 5,521 Interest income 12 12 $ 5,293 $ 5,545

Loss per share (Tables)

Loss per share (Tables)	12 Months Ended
Loss per share (Tables)	Dec. 31, 2022
Loss per share
Schedule of reconciliation of the basic and diluted loss per share computation	For the years ended December 31, 2022 2021 2020 Net loss attributable to ordinary shareholders of TROOPS — continuing operations $ (346) $ (8,413) $ (67,923) — discontinued operations — — 5 $ (346) $ (8,413) $ (67,918) Weighted average shares used in calculating loss per share – basic and diluted 101,597,998 101,563,623 98,110,873 Loss from continuing operations per share – basic and diluted $ (0.01) $ (0.08) $ (0.69) Loss from discontinued operations per share – basic and diluted $ (0.00) $ (0.00) $ (0.00) Net loss per share – basic and diluted $ (0.01) $ (0.08) $ (0.69)

Segment information (Tables)

Segment information (Tables)	12 Months Ended
Segment information (Tables)	Dec. 31, 2022
Segment information
Schedule of segment information	Green VR energy products Property Financial LCD/ products and Money lease technology Corporate For the year ended LED and services services lending and solutions unallocated December 31, 2022 products (discontinued) (discontinued) services management and services (note) Consolidated Revenues $ — $ — $ — $ 2,451 $ 1,106 $ 318 $ — $ 3,875 Gross profit (loss) — — — 1,862 (1,065) 25 — 822 Operating expenses (4) — — 165 (497) (36) (986) (1,358) Operating loss from continuing operations (4) — — 2,027 (1,562) (11) (986) (536) Other income — — — 30 107 (1) (2) 134 Loss before provision for income taxes and non-controlling interests (4) — — 2,057 (1,455) (12) (988) (402) Income tax (expense) benefit — — — (181) 245 (8) — 56 Net loss from continuing operations (4) — — 1,876 (1,210) (20) (988) (346) As of December 31, 2022 Identifiable long-lived assets 1 — — 517 48,127 52 — 48,697 Total assets 201 — — 14,466 49,071 5,651 297 69,686 Green VR energy products Property Financial LCD/ products and Money lease technology Corporate For the year ended LED and services services lending and solutions unallocated December 31, 2021 products (discontinued) (discontinued) services management and services (note) Consolidated Revenues $ — $ — $ — $ 1,673 $ 1,068 $ 942 $ — $ 3,683 Gross profit (loss) — — — 1,472 (1,036) (76) — 360 Operating expenses (95) — — (2,092) (576) (5,080) (1,322) (9,165) Operating loss from continuing operations (95) — — (620) (1,612) (5,156) (1,322) (8,805) Other income — — — — 97 7 162 266 Loss before provision for income taxes and non-controlling interests (95) — — (620) (1,515) (5,149) (1,160) (8,539) Income tax (expense) benefit — — — (187) 249 64 — 126 Net loss from continuing operations (95) — — (807) (1,266) (5,085) (1,160) (8,413) As of December 31, 2021 Identifiable long-lived assets 1 — — 555 50,018 77 — 50,651 Total assets 205 — — 12,986 50,619 6,084 452 70,346 Green energy VR Property Financial products products Money lease technology Corporate For the year ended LCD/LED and services and services lending and solutions unallocated December 31, 2020 products (discontinued) (discontinued) services management and services (note) Consolidated Revenues $ — $ — $ — $ 1,667 $ 1,130 $ 1,496 $ — $ 4,293 Gross profit (loss) — — — 1,565 (1,193) (1,438) — (1,066) Operating expenses (616) — — (3,048) (4,889) (56,892) (831) (66,276) Operating loss from continuing operations (616) — — (1,483) (6,082) (58,330) (831) (67,342) Other (expenses) income (306) — — 22 (159) 10 (457) (890) Loss before provision for income taxes and non-controlling interests (922) — — (1,461) (6,241) (58,320) (1,288) (68,232) Income tax (expense) benefit — — — (534) 400 443 — 309 Net loss from continuing operations (922) — — (1,995) (5,841) (57,877) (1,288) (67,923) 　 As of December 31, 2020 　 Identifiable long-lived assets 1 — — 468 51,667 451 — 52,587 Total assets 375 — — 25,625 52,116 11,997 17 90,130
Schedule of company's net revenue from external customers by geographic areas	For the year ended December 31, 2022 2021 2020 Hong Kong 3,597 3,489 4,235 Australia 278 194 58 Total $ 3,875 $ 3,683 $ 4,293 For the year ended December 31, 2022 2021 2020 Hong Kong 3,595 3,489 4,235 Australia 278 194 58 Total $ 3,873 $ 3,683 $ 4,293

Leases (Tables)

Leases (Tables)	12 Months Ended
Leases (Tables)	Dec. 31, 2022
Leases
Schedule of maturities of lease liabilities	The following table sets forth the five-year maturity schedule of the Company’s lease liabilities: For the years ending December 31, Amount 2023 $ 23 2024 4 2025 — 2026 — 2027 — Total operating lease payments $ 27 Less: imputed interest (7) Present value of operating lease liabilities $ 20
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	Future Minimum For the year ending December 31, Rentals 2023 $ 925 2024 392 2025 72 2026 38 2027 25 Total $ 1,452

Restatement (Tables)

Restatement (Tables)	12 Months Ended
Restatement (Tables)	Dec. 31, 2022
Restatement
Restatements on the consolidated financial statements as previously reported	The impact of these restatements on the consolidated financial statements as previously reported is summarized below: December 31, 2019 December 31, (as previously 2019 (as reported) restated) Other receivables and prepayments $ 6,765* $ 5,904 Total assets 140,578 139,717 Additional paid-in capital 117,804 116,943 Total TROOPS, Inc. shareholders' equity 120,430 119,569 Total shareholders' equity 120,626 119,765 December 31, 2019 December 31, (as previously 2019 (as reported) restated) Additional Paid-in Capital For the year ended December 31, 2018 - Shares issued for compensation plan $ 1,987 $ 526 Balance, December 31, 2018 116,648 115,187 For the year ended December 31, 2019 - Shares issued for compensation plan — 600 Balance, December 31, 2019 117,804 116,943 * Other receivables and prepayments of Boca amounting $37 was reclassified to discontinued operations (note 3).

Quantitative and qualitative _2

Quantitative and qualitative disclosure about market risk (Tables)	12 Months Ended
	Dec. 31, 2022
Quantitative and qualitative disclosure about market risk
Schedule of movement of the provision for loan losses and interest receivable	For the years ended December 31, 2022 2021 Balance as of January 1 $ 3,558 $ 2,172 Provisions for doubtful accounts Personal loans 1 450 Corporate loans 1 1,428 Write offs (513) — Recoveries of amounts previously charged off (975) (492) Changes due to foreign exchange — — Balance as of December 31 2,072 3,558
Schedule of movement of the provision for account receivable, other receivables and prepayments, deposit for acquisition of a subsidiary	For the years ended December 31, 2022 2021 Balance as of January 1 $ 132 $ 39 Provisions for doubtful accounts 3 93 Write offs — — Recoveries of amounts previously charged off — — Changes due to foreign exchange — — Balance as of December 31 135 132
Schedule of company's net revenue from external customers by geographic areas	For the year ended December 31, 2022 2021 2020 Hong Kong 3,597 3,489 4,235 Australia 278 194 58 Total $ 3,875 $ 3,683 $ 4,293 For the year ended December 31, 2022 2021 2020 Hong Kong 3,595 3,489 4,235 Australia 278 194 58 Total $ 3,873 $ 3,683 $ 4,293

Organization and description _2

Organization and description of business (Additional Information) (Details) $ / shares in Units, $ in Thousands, $ in Thousands																									1 Months Ended					3 Months Ended	8 Months Ended	12 Months Ended
	Sep. 28, 2020 USD ($) shares	Sep. 28, 2020 AUD ($) shares	Sep. 20, 2020 HKD ($)	Aug. 31, 2020 USD ($) shares	Dec. 23, 2019 USD ($) shares	Sep. 20, 2019 USD ($) shares	Sep. 20, 2019 HKD ($) shares	Apr. 25, 2019 USD ($) shares	Apr. 25, 2019 HKD ($) shares	Mar. 08, 2019 USD ($) $ / shares shares	Feb. 05, 2019 USD ($) $ / shares shares	Jun. 26, 2018 USD ($) $ / shares shares	Jun. 07, 2018 USD ($) $ / shares shares	Mar. 08, 2018 USD ($) property shares	Mar. 08, 2018 HKD ($) property shares	Dec. 22, 2017 USD ($) shares	Dec. 22, 2017 HKD ($) shares	May 10, 2017 USD ($) $ / shares	Apr. 28, 2017 USD ($) shares	Dec. 27, 2016 USD ($)	Feb. 29, 2016 shares	Jan. 19, 2016 $ / shares	Dec. 28, 2015 USD ($) shares	Mar. 12, 2010 shares	Aug. 31, 2020 USD ($) shares	Jan. 31, 2020 USD ($)	Dec. 31, 2016 USD ($)	Mar. 31, 2016 USD ($) $ / shares shares	Dec. 31, 2015 USD ($)	Dec. 31, 2018	Aug. 31, 2020 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2022 $ / shares shares	Dec. 31, 2021 $ / shares shares	Aug. 31, 2020 HKD ($)	Jun. 25, 2018 USD ($) $ / shares shares	Jun. 07, 2018 HKD ($)	May 17, 2018 USD ($)	Apr. 18, 2018	Dec. 26, 2017 $ / shares	Aug. 10, 2016 shares	Aug. 09, 2016 shares	Jan. 18, 2016 $ / shares	Dec. 24, 2014	Mar. 14, 2011	Jan. 29, 2008 shares
Ordinary shares, shares authorized \| shares												500,000,000																						500,000,000	500,000,000		50,000,000					50,000,000	12,500,000
Ordinary shares, par value \| $ / shares												$ 0.004										$ 0.004												$ 0.004	$ 0.004		$ 0.004							$ 0.001
Amount of increase of common stocks authorized \| shares												450,000,000
Amount of increase of preferred stocks authorized \| shares												9,000,000
Shares authorized, values												$ 2,010,000																									$ 201,000
Ordinary shares, shares outstanding \| shares																																		101,597,998
Preferred stock, shares authorized \| shares												10,000,000																						1,000,000	1,000,000		1,000,000										1,000,000
Preferred stock, shares outstanding \| shares																																		0	0
Preferred stock, par value \| $ / shares												$ 0.001																						$ 0.001	$ 0.001		$ 0.001
Interest rate																										8%									5%					2.50%
Stock Issued During Period, Value, Acquisitions																																$ 14,661,000
Conversion of stock split ratio																						0.25
Paris Sky Limited
Principal amount																																						$ 27,100
SGOCO Shenzhen
Equity method investment, ownership percentage																																							100%
Victor
Shares issued on acquisition of subsidiaries, shares \| shares					15,992,000
Percentage of new shares issued for business acquisition					19.90%
SGOCO Fujian
Consideration																													$ 11,000,000
SGOCO Shenzhen
Consideration																																							$ 1,000
Century Skyway Limited
Consideration													$ 16,170,000
Percentage of ownership to sell in disposal																														51%
Century Skyway Limited \| Ho Pui Lung
Consideration to be received			$ 99,450			$ 12,750,000		$ 12,750,000	$ 99,450
Ownership interest transferred						51%	51%
Number of shares transferred \| shares						5,100	5,100
GFS
Cash consideration					$ 21,790,000
Consideration in the form of a promissory note					$ 64,340,000
Business combination consideration transferred	$ 590,000	$ 700
Boca International Limited
Disposal business, number of shares sold during the period \| shares																									94
Disposal business, percentage of ownership to be disposed																									51%
Consideration				$ 187,000									$ 23,700,000												$ 187,000						$ 187,000					$ 1,460		$ 184,840
Percentage of ownership to sell in disposal				51%
Number of shares to sell \| shares				94
Ownership interest transferred																															51%
Boca International Limited \| Wong Yiu Tong
Disposal business, percentage of ownership to be disposed																									51%
Percentage of ownership to sell in disposal				51%
Giant Credit Limited ("GCL")
Number of ordinary shares, issued \| shares																2,220,283	2,220,283
Cash consideration																$ 2,350,000	$ 19,600
Shares issued on acquisition of subsidiaries, shares \| shares																2,220,283	2,220,283
Business combination consideration transferred																$ 2,354,000	$ 19,600
Property, plant and equipment																$ 508,000
Shares Issued, Price Per Share \| $ / shares																																									$ 1.06
SGO Corporation
Percentage of voting interests acquired																																														100%
Paris Sky Limited
Number of ordinary shares, issued \| shares													3,889,050
Percentage of voting interests acquired													100%																									100%
Fair value of equity issued in business acquisition													$ 4,780,000
Business acquisition equity interest, value													$ 3,890,000																									$ 30,330
Shares issued on acquisition of subsidiaries, shares \| shares													3,889,050
Business combination consideration transferred													$ 48,128,000
Property, plant and equipment													$ 52,994,000
Shares Issued, Price Per Share \| $ / shares													$ 1.23
Sale of stock, price per share \| $ / shares													$ 1.23
Principal amount													$ 3,470,000																									$ 27,100
Interest rate													8%																									8%
Stock Issued During Period, Value, Acquisitions													$ 4,780,000
Paris Sky Limited \| Equity Interest In BOCA
Percentage of voting interests acquired													49%																									49%
Business combination consideration transferred													$ 23,699,000
Paris Sky Limited \| CSL
Percentage of voting interests acquired													49%																									49%
Business combination consideration transferred													$ 16,170,000
Century Skyway Limited
Number of ordinary shares, issued \| shares																			1,500,000
Cash consideration																		$ 32,600,000	$ 32,600,000								$ 32,000,000
Shares issued on acquisition of subsidiaries, shares \| shares						5,100	5,100
Business combination consideration transferred						$ 12,750,000	$ 99,450											$ 34,925,000		$ 35,000,000
Shares Issued, Price Per Share \| $ / shares																		$ 1.55
Century Skyway Limited \| Ho Pui Lung
Number of shares to sell \| shares								5,100	5,100
Boca International Limited
Percentage of voting interests acquired																							100%					100%
Cash consideration																							$ 52,000,000					$ 52,000,000	$ 52,000,000
Shares issued on acquisition of subsidiaries, shares \| shares																					1,162,305		3,400,000					1,162,305
Business combination consideration transferred																												$ 56,080,000
Shares Issued, Price Per Share \| $ / shares																												$ 3.51
Percentage of new shares issued for business acquisition																							19.90%
Percentage reducing electricity consumption																							50%
11 Hau Fook Street Limited
Number of ordinary shares, issued \| shares														2,935,222	2,935,222
Cash consideration														$ 3,350,000	$ 26,100
Number of properties owned \| property														2	2
Vision Lane Limited
Cash consideration											$ 7,460,000																						$ 6,410,000
Shares issued on acquisition of subsidiaries, shares \| shares										4,519,347	4,519,347
Business combination consideration transferred										$ 12,740,000	$ 12,420,000
Shares Issued, Price Per Share \| $ / shares										$ 1.16	$ 1.10
Stock Issued During Period, Value, Acquisitions											$ 5,240,000
Vision Lane Limited \| Paris Sky Limited
Number of ordinary shares, issued \| shares										4,519,347	4,519,347
Percentage of voting interests acquired											100%
Cash consideration											$ 7,500,000
Fair value of equity issued in business acquisition										$ 5,240,000
Business combination consideration transferred										$ 12,700,000	$ 12,428,205
Sale of stock, price per share \| $ / shares										$ 1.16	$ 1.10
SGOCO Fujian
Percentage of voting interests acquired																																													100%
Honesty Group
Number of ordinary shares, issued \| shares																								3,575,000
Percentage of voting interests acquired																								100%
GFS
Number of ordinary shares, issued \| shares	559,581	559,581			15,992,000
Cash consideration																										$ 21,795,000
Consideration in the form of a promissory note																										28,473,000
Business combination consideration transferred																										64,341,000
Property, plant and equipment																										$ 7,000
Percentage of new shares issued for business acquisition					19.90%
Consideration					$ 64,340,000

Organization and description _3

Organization and description of business (Acquisition of Honesty Group Holdings Limited) (Details) - shares	Dec. 31, 2022	Mar. 12, 2010	Mar. 11, 2010
Organization and description of business
Ordinary shares, shares issued	101,597,998	4,023,689	5,299,126

Organization and description _4

Organization and description of business (Acquisition of Paris Sky Limited) (Details) $ / shares in Units, $ in Thousands			12 Months Ended
	Jun. 07, 2018 USD ($) $ / shares shares	Jun. 07, 2018 HKD ($) shares	Dec. 31, 2020 USD ($)	Dec. 31, 2021	Jan. 31, 2020	Jun. 26, 2018 USD ($)	Jun. 25, 2018 USD ($)	Jun. 07, 2018 HKD ($)	Apr. 18, 2018
Shares authorized, values						$ 2,010,000	$ 201,000
Interest rate				5%	8%				2.50%
Stock Issued During Period, Value, Acquisitions			$ 14,661,000
Paris Sky Limited
Fair value of equity issued in business acquisition	$ 4,780,000
Business acquisition equity interest, value	$ 3,890,000							$ 30,330
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares \| shares	3,889,050	3,889,050
Stock Issued During Period, Shares, Acquisitions \| shares	3,889,050	3,889,050
Total	$ 48,128,000
Sale of stock, price per share \| $ / shares	$ 1.23
Percentage of voting interests acquired	100%							100%
Principal amount	$ 3,470,000							$ 27,100
Interest rate	8%							8%
Stock Issued During Period, Value, Acquisitions	$ 4,780,000
Paris Sky Limited \| Century Skyway Limited
Total	$ 16,170,000	$ 126,130
Percentage of ownership used to pay to acquiree in business combination	49%	49%
Paris Sky Limited \| Giant Connection Limited
Interest rate	8%							8%
Paris Sky Limited \| Boca International Limited
Percentage of ownership used to pay to acquiree in business combination	49%	49%
Fair value of portion of ownership being used to pay acquiree in business combination	$ (23,700,000)

Organization and description _5

Organization and description of business (Acquisition of Vision Lane) (Details) - Vision Lane Limited - USD ($)			12 Months Ended
	Mar. 08, 2019	Feb. 05, 2019	Dec. 31, 2018
Cash		$ 7,460,000	$ 6,410,000
Shares issued on acquisition of subsidiaries, shares	4,519,347	4,519,347
Total	$ 12,740,000	$ 12,420,000
Paris Sky Limited
Cash		$ 7,500,000
Fair value of equity issued in business acquisition	$ 5,240,000
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares	4,519,347	4,519,347
Total	$ 12,700,000	$ 12,428,205
Sale of stock, price per share	$ 1.16	$ 1.10

Summary of significant accoun_4

Summary of significant accounting policies (Additional Information) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Restricted cash
Restricted cash	$ 0	$ 0
Accounts receivable, net
Allowance for doubtful accounts	0	0
Other receivables and Prepayments
Allowance for uncollectible other receivables and prepayments	$ 135	132
Energy saving services
Term of single performance obligation satisfied over time	10 years
Loan receivables, net
Allowance for loans receivable	$ 2,072	$ 3,558
Minimum
Energy saving services
Actual electricity running cost (as a percent)	0%
Rebate (as a percent)	2%
Maximum
Energy saving services
Actual electricity running cost (as a percent)	40%
Rebate (as a percent)	20%
Maximum \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-12-31
Energy saving services
Term of contract	10 years

Summary of significant accoun_5

Summary of significant accounting policies (Schedule of Consolidated Subsidiaries) (Details)	Dec. 31, 2022
SGOCO International (HK) Limited
Entity Information [Line Items]
Percentage ownership	100%
Beijing SGOCO Image Technology Co., Ltd.
Entity Information [Line Items]
Percentage ownership	100%
Giant Financial Services Limited ("GFS")
Entity Information [Line Items]
Percentage ownership	100%
Apiguru Pty Limited ("Apiguru")
Entity Information [Line Items]
Percentage ownership	100%
Giant Connection Limited
Entity Information [Line Items]
Percentage ownership	100%
Giant Credit Limited ("GCL")
Entity Information [Line Items]
Percentage ownership	100%
11 Hau Fook Street Limited
Entity Information [Line Items]
Percentage ownership	100%
Paris Sky Limited
Entity Information [Line Items]
Percentage ownership	100%
Vision Lane Limited
Entity Information [Line Items]
Percentage ownership	100%
Suns Tower Limited
Entity Information [Line Items]
Percentage ownership	100%
First Asia Finance Limited ("FAF")
Entity Information [Line Items]
Percentage ownership	100%

Summary of significant accoun_6

Summary of significant accounting policies (Plant and Equipment) (Details)	12 Months Ended
	Dec. 31, 2022
Leasehold land and buildings \| Maximum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	50 years
Machinery and equipment \| Maximum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	10 years
Machinery and equipment \| Minimum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	4 years
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Vehicles and office equipment \| Maximum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Vehicles and office equipment \| Minimum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	4 years

Summary of significant accoun_7

Summary of significant accounting policies (Intangible assets) (Details)	12 Months Ended
	Dec. 31, 2022
Trademarks of GFS
Useful lives ( in years)	10 years
Service Contracts of GFS
Useful lives ( in years)	1 year
Non-competition agreements of Apiguru
Useful lives ( in years)	3 years

Summary of significant accoun_8

Summary of significant accounting policies (Schedule of Changes in Financial Liabilities) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Summary of significant accounting policies
Balance, beginning	$ 249	$ 253
Change in fair value of warrant derivative liability	$ (249)	(4)
Balance, ending		$ 249

Summary of significant accoun_9

Summary of significant accounting policies (Schedule of Assumptions Used to Value Convertible Notes) (Details)	12 Months Ended
	Dec. 31, 2020 $ / shares
Summary of significant accounting policies
Market price per share (USD/share)	$ 1.45
Exercise price (USD/share)	$ 1
Risk free rate	0.07%
Expected term/Contractual life (years)	3 months 3 days
Expected volatility	64.06%

Summary of significant accou_10

Summary of significant accounting policies (Property Lease and Management) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues	$ 3,875	$ 3,683	$ 4,293
Transferred over Time
Revenues	$ 3,875	$ 3,683	$ 4,293

Summary of significant accou_11

Summary of significant accounting policies (Revenue by major product line and Foreign Currency translation) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) ¥ / $	Dec. 31, 2021 USD ($) ¥ / $	Dec. 31, 2020 USD ($) ¥ / $	Dec. 31, 2022 $ / $	Dec. 31, 2021 $ / $
Revenues	$ 3,875	$ 3,683	$ 4,293
Foreign exchange	6.96	6.38		0.68	0.73
Foreign Currency Exchange Rate	6.73	6.45	6.90	0.75	0.73
Interest On Loans
Revenues	$ 2,451	$ 1,673	$ 1,667
Property lease and management
Revenues	1,106	1,068	1,130
Financial technology solution and services
Revenues	$ 318	$ 942	$ 1,496

Summary of significant accou_12

Summary of significant accounting policies (Contract Liabilities) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Summary of significant accounting policies
Unbilled loans mature amounted	$ 0	$ 0
Balance	7,000	3,000	$ 8,000
Revenue recognized from beginning contract liability balance	(7,000)	(3,000)	(8,000)
Advances received from customers related to unsatisfied performance obligations	10,000	7,000	3,000
Balance	$ 10,000	$ 7,000	$ 3,000

Discontinued Operations (Additi

Discontinued Operations (Additional Information) (Details) $ in Thousands, $ in Thousands			3 Months Ended
	Aug. 31, 2020 USD ($) shares	Jun. 07, 2018 USD ($)	Dec. 31, 2018	Aug. 31, 2020 HKD ($)	Jun. 07, 2018 HKD ($)
Century Skyway Limited
Consideration \| $		$ 16,170
Percentage of ownership to sell in disposal			51%
Boca International Limited
Percentage of ownership used to pay to acquiree in business combination		49%
Consideration	$ 187	$ 23,700		$ 1,460	$ 184,840
Percentage of ownership to sell in disposal	51%
Number of shares to sell \| shares	94
Wong Yiu Tong \| Boca International Limited
Percentage of ownership to sell in disposal	51%

Discontinued Operations (Consol

Discontinued Operations (Consolidated Statements Of balance sheets) (Details) - Boca International Limited - USD ($) $ in Thousands	Aug. 31, 2020	Dec. 31, 2019
Cash	$ 2	$ 35
Accounts receivable, net	186	25
Operating lease right-of-use assets, net	95	95
Other receivables and prepayments	37	37
Equipment		2,799
Intangible assets	2,063	2,377
Long-live asset subtotal	4,900	5,271
Assets held for sale		5,368
Current		97
Non-current		5,271
Other payables and accrued liabilities	4,235	4,274
Operating lease liability, current		68
Operating lease liability, non-current		29
Deferred tax liabilities	$ 516	594
Liabilities held for sale		4,965
Current		4,342
Non-current		$ 623

Discontinued Operations (Cons_2

Discontinued Operations (Consolidated Statements Of Comprehensive Loss) (Details) - USD ($) $ in Thousands	8 Months Ended	12 Months Ended
	Aug. 31, 2020	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Other expenses		$ 191	$ 122	$ 128
Gain (Loss) from discontinued operations, net of income taxes				$ 5
Boca International Limited
Revenues	$ 812
Cost of revenues	(523)
Operating expenses	(363)
Loss before provision for income taxes	(74)
Income tax credit	79
Gain (Loss) from discontinued operations, net of income taxes	$ 5

Discontinued Operations - (Net

Discontinued Operations - (Net assets at the dates of disposal) (Details) $ in Thousands, $ in Thousands	8 Months Ended
	Aug. 31, 2020 USD ($)	Aug. 31, 2020 HKD ($)	Dec. 31, 2019 USD ($)	Jun. 07, 2018 USD ($)	Jun. 07, 2018 HKD ($)
Century Skyway Limited
Consideration				$ 16,170
Boca International Limited
Cash	$ 2		$ 35
Accounts receivable	186		25
Operating lease right-of-use assets, net	95		95
Other receivables and prepayments	37		37
Plant and equipment, net	2,837
Intangible assets, net	2,063		2,377
Long-live asset subtotal	4,900		5,271
Other payables and accrued liabilities	(4,235)		(4,274)
Operating lease liabilities	(97)
Deferred tax liabilities	(516)		$ (594)
Net assets of Boca upon disposal	$ 372
Ownership interest transferred	51%
Interests in net assets of Boca being disposed of	$ 189
Consideration	187	$ 1,460		$ 23,700	$ 184,840
Loss on disposal of subsidiary	$ (2)

Accounts receivable, net (Detai

Accounts receivable, net (Details) - USD ($)	12 Months Ended
Accounts receivable, net (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Accounts receivable, net
Accounts receivable		$ 8,000
Allowance for doubtful accounts	$ 0	0
Accounts receivable, net		8,000
Written-off bad debts	$ 0	$ 0

Loans receivable, net (Addition

Loans receivable, net (Additional Information) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) loan	Dec. 31, 2022 HKD ($) loan	Dec. 31, 2021 USD ($) loan	Dec. 31, 2020 USD ($)	Dec. 31, 2022 HKD ($)	Jan. 31, 2020	Apr. 18, 2018
Debt Instrument, Interest Rate, Stated Percentage			5%			8%	2.50%
Provision charge	$ 1,386			$ 1,980
Reversal	973
Loans to unrelated parties	13,860	$ 108,120,000
Accrued interest on loans					$ 28,613
Provision for loan losses	2,072		$ 3,558
Write-offs on loan and allowance for loan and lease losses	513
Financing Receivables, Equal to Greater than 365 Days Past Due
Loans receivable	1,154
Financing Receivables, 180 to 365 Days Past Due
Loans receivable			423
Provisions for doubtful accounts	$ 1,153		$ 8
Personal Loans
Number of loans \| loan	14	14	18
Provisions for doubtful accounts	$ 1		$ 450
Corporate Loans
Number of loans \| loan	4	4	3
Provisions for doubtful accounts	$ 1		$ 1,428
Loan agreement
Accrued interest on loans	$ 13,860				$ 108,120,000
Minimum
Debt Instrument, Interest Rate, Stated Percentage	5%		5%		5%
Maximum
Debt Instrument, Interest Rate, Stated Percentage	42%		54%		42%

Loans receivable, net (Details)

Loans receivable, net (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Subtotal	$ 14,622	$ 14,194
Provision for loan losses	(2,072)	(3,558)
Total loans receivable, net	12,550	10,636
Less: classified as non-current loans receivable, net	(4,170)	(8,190)
Total current loans receivable, net	8,380	2,446
Personal Loans
Subtotal	7,622	8,027
Corporate Loans
Subtotal	$ 7,000	$ 6,167

Loans receivable, net (Loans Re

Loans receivable, net (Loans Receivable Maturity Due) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Loans receivable, net
2023	$ 8,380
2024	4,165
2025 and thereafter	5
Total loans receivable, net	$ 12,550	$ 10,636

Loans receivable, net (Past Due

Loans receivable, net (Past Due Financing Receivables) (Details) $ in Thousands	Dec. 31, 2022 USD ($)	Dec. 31, 2022 HKD ($)	Dec. 31, 2021 USD ($)
Loans receivable		$ 97,888,522
Total loans receivable, net	$ 12,550		$ 10,636
Financing Receivables 1 To 89 Days Past Due
Loans receivable	1
Financing Receivables, 90 to 179 Days Past Due
Loans receivable			1
Financing Receivables, 180 to 365 Days Past Due
Loans receivable			1
Financing Receivables, Equal to Greater than 365 Days Past Due
Loans receivable			415
Financial Asset, Past Due
Loans receivable	1		417
Financial Asset, Not Past Due
Loans receivable	$ 12,449		$ 10,219

Loans receivable, net (Company'

Loans receivable, net (Company's loan portfolio) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Loans receivable, gross	$ 12,550	$ 10,636
Installment loans to individuals
Loans receivable, gross	421	15
Real estate backed loan
Loans receivable, gross	6,419	6,221
Securities backed loan
Loans receivable, gross	3,035	1,617
Commercial loans
Loans receivable, gross	$ 2,675	$ 2,783

Other receivables, prepayment_3

Other receivables, prepayments and deposits (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Other receivables, prepayments and deposits
Utility deposits	$ 12	$ 10
Other receivables	77	47
Other prepayments	116	165
Other receivables, prepayments and deposits, net	205	222
Allowance for other receivables and prepayments, net of provision for credit losses	$ 3	$ 5	$ 5

Acquisition of subsidiaries a_3

Acquisition of subsidiaries and deposits paid for acquisition of subsidiaries (Additional Information) (Details) $ / shares in Units, $ in Thousands, $ in Thousands																				1 Months Ended					8 Months Ended	12 Months Ended
	Oct. 08, 2020 USD ($)	Sep. 28, 2020 USD ($) shares	Sep. 28, 2020 AUD ($) shares	Aug. 31, 2020 USD ($) shares	Dec. 23, 2019 USD ($) shares	Sep. 20, 2019 USD ($) shares	Sep. 20, 2019 HKD ($) shares	Mar. 12, 2019 USD ($)	Mar. 08, 2019 USD ($) $ / shares shares	Feb. 05, 2019 USD ($) $ / shares shares	Jun. 07, 2018 USD ($) $ / shares shares	Jun. 07, 2018 HKD ($) shares	Dec. 22, 2017 USD ($) shares	Dec. 22, 2017 HKD ($) shares	May 10, 2017 USD ($) $ / shares	Apr. 28, 2017 USD ($) shares	Dec. 27, 2016 USD ($)	Feb. 29, 2016 shares	Dec. 28, 2015 USD ($) shares	Aug. 31, 2020 USD ($) shares	Jan. 31, 2020 USD ($)	Dec. 31, 2016 USD ($)	Mar. 31, 2016 USD ($) $ / shares shares	Dec. 31, 2015 USD ($)	Aug. 31, 2020 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Nov. 13, 2020 USD ($)	Oct. 12, 2020 USD ($) $ / shares	Aug. 31, 2020 HKD ($)	Jun. 07, 2018 HKD ($)	Apr. 18, 2018	Dec. 26, 2017 $ / shares
Business Acquisition [Line Items]
Cash					$ 21,790,000
Goodwill																					$ 60,103,000					$ 385,000	$ 385,000	$ 5,107,000	$ 3,906,000
Revenues																										$ 3,875,000	$ 3,683,000	4,293,000
Shares issued on acquisition of subsidiaries																												$ 14,661,000
Debt Instrument, Interest Rate, Stated Percentage																					8%						5%								2.50%
Refundable deposit paid for acquisition of TROOPS InsurTech																															$ 5,000,000
Sale and Purchase Agreement
Business Acquisition [Line Items]
Maximum percentage of new shares company offered as consideration for acquisition				51%
Percentage Of Equity Interest Transferred				51%
Consideration				$ 190,000																$ 190,000					$ 190,000								$ 1,460
Promissory Note
Business Acquisition [Line Items]
Debt Instrument, Face Amount																					$ 28,470,000
Boca International Limited
Business Acquisition [Line Items]
Cash																			$ 52,000,000				$ 52,000,000	$ 52,000,000
Maximum percentage of new shares company offered as consideration for acquisition																			19.90%
Shares issued on acquisition of subsidiaries, shares \| shares																		1,162,305	3,400,000				1,162,305
Fair value of shares issued \| $ / shares																							$ 3.51
Cash																							$ 1,000
Loan receivables																							332,000
Goodwill																							36,504,000
Percentage Of Equity Interest Transferred											49%	49%
Business Combination, Consideration Transferred																							$ 56,080,000
Percentage of voting interests acquired																			100%				100%
Percentage of new shares issued for business acquisition																			19.90%
Boca International Limited \| Sale and Purchase Agreement
Business Acquisition [Line Items]
Disposal business, number of shares sold during the period \| shares				94
Boca International Limited \| Proprietary technology
Business Acquisition [Line Items]
Intangible assets																							$ 26,179,000
Boca International Limited \| Sales Revenue [Member] \| Customer concentration
Business Acquisition [Line Items]
Revenues																									$ 812,000				$ 402,000
Concentration risk percentage																									100%			98%
Century Skyway Limited
Business Acquisition [Line Items]
Cash															$ 32,600,000	$ 32,600,000						$ 32,000,000
Shares issued on acquisition of subsidiaries, shares \| shares						5,100	5,100
Fair value of shares issued \| $ / shares															$ 1.55
Cash															$ 1,000
Accrued liabilities															68,000
Goodwill															20,230,000
Percentage Of Equity Interest Transferred											49%	49%
Business Combination, Consideration Transferred						$ 12,750,000	$ 99,450								34,925,000		$ 35,000,000
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares \| shares																1,500,000
Century Skyway Limited \| Proprietary technology
Business Acquisition [Line Items]
Intangible assets															$ 19,682,000
Giant Credit Limited ("GCL")
Business Acquisition [Line Items]
Cash													$ 2,350,000	$ 19,600
Shares issued on acquisition of subsidiaries, shares \| shares													2,220,283	2,220,283
Fair value of shares issued \| $ / shares																																				$ 1.06
Cash													$ 943,000
Loan receivables													670,000
Interest receivables													6,000
Property, plant and equipment													508,000
Goodwill													248,000
Business Combination, Consideration Transferred													$ 2,354,000	$ 19,600
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares \| shares													2,220,283	2,220,283
Paris Sky Limited
Business Acquisition [Line Items]
Shares issued on acquisition of subsidiaries, shares \| shares											3,889,050	3,889,050
Fair value of shares issued \| $ / shares											$ 1.23
Cash											$ 1,957,000
Property, plant and equipment											52,994,000
Other assets											50,000
Other payables											170,000
Income tax payable											4,000
Business Combination, Consideration Transferred											$ 48,128,000
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares \| shares											3,889,050	3,889,050
Shares issued on acquisition of subsidiaries											$ 4,780,000
Debt Instrument, Face Amount											$ 3,470,000																							$ 27,100
Debt Instrument, Interest Rate, Stated Percentage											8%																							8%
Percentage of voting interests acquired											100%																							100%
Percentage of leasehold property in the fair value of gross assets acquired											95%	95%
Secured by pledged banking facility payable											$ (27,610,000)	$ 215,320
Leung Iris Chi Yu
Business Acquisition [Line Items]
Business Combination, Consideration Transferred											$ 3,890,000	$ 30,330
Vision Lane Limited
Business Acquisition [Line Items]
Cash										$ 7,460,000																				$ 6,410,000
Shares issued on acquisition of subsidiaries, shares \| shares									4,519,347	4,519,347
Fair value of shares issued \| $ / shares									$ 1.16	$ 1.10
Cash																														$ 6,410,000
Business Combination, Consideration Transferred									$ 12,740,000	$ 12,420,000
Shares issued on acquisition of subsidiaries										$ 5,240,000
Vision Lane Limited And First Asia Finance Limited
Business Acquisition [Line Items]
Cash								$ 7,457,000
Cash								1,122,000
Loan receivables								7,495,000
Interest receivables								151,000
Property, plant and equipment								1,095,000
Other receivables								20,000
Account payables								30,000
Other payables								607,000
Income tax payable								81,000
Goodwill								3,658,000
Business Combination, Consideration Transferred								$ 12,699,000
GFS
Business Acquisition [Line Items]
Cash																					21,795,000
Cash																					981,000
Loan receivables																					707,000
Property, plant and equipment																					7,000
Accrued liabilities																					29,000
Other payables-related party																					662,000
Income tax payable													$ 14,000								387,000
Intangible assets																					4,336,000
Goodwill																					60,103,000
Business Combination, Consideration Transferred																					64,341,000
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares \| shares		559,581	559,581		15,992,000
Consideration					$ 64,340,000
Percentage of new shares issued for business acquisition					19.90%
GFS \| Trademarks
Business Acquisition [Line Items]
Intangible assets																					1,550,000
GFS \| Backlog contracts
Business Acquisition [Line Items]
Intangible assets																					$ 2,786,000
Apiguru
Business Acquisition [Line Items]
Shares issued on acquisition of subsidiaries, shares \| shares		559,581	559,581
Fair value of shares issued \| $ / shares																																$ 1.05
Cash	$ 28,000
Account payables	1,000
Other payables	7,000
Intangible assets	39,000
Goodwill	539,000
Business Combination, Consideration Transferred	$ 588,000	$ 500,000	$ 695,000
Consideration																																$ 590,000
Boca International Limited
Business Acquisition [Line Items]
Equity method investment, ownership percentage											51%																							51%
Century Skyway Limited
Business Acquisition [Line Items]
Equity method investment, ownership percentage						51%	51%				51%																							51%
Boca International Limited
Business Acquisition [Line Items]
Consideration				$ 187,000							$ 23,700,000									$ 187,000					$ 187,000								$ 1,460	$ 184,840
Disposal business, number of shares sold during the period \| shares																				94
Boca International Limited \| Paris Sky Limited
Business Acquisition [Line Items]
Percentage Of Equity Interest Transferred											49%	49%
Business Combination, Consideration Transferred											$ 23,700,000	$ 184,840
Century Skyway Limited
Business Acquisition [Line Items]
Consideration																																		$ 126,130
Century Skyway Limited \| Paris Sky Limited
Business Acquisition [Line Items]
Percentage Of Equity Interest Transferred											49%	49%
Business Combination, Consideration Transferred											$ 16,170,000	$ 126,130

Acquisition of subsidiaries a_4

Acquisition of subsidiaries and deposits paid for acquisition of subsidiaries (Purchase Price Allocation) (Details) $ in Thousands, $ in Thousands

1 Months Ended

12 Months Ended

Oct. 08, 2020 USD ($)

Sep. 28, 2020 USD ($)

Sep. 28, 2020 AUD ($)

Sep. 20, 2019 USD ($)

Sep. 20, 2019 HKD ($)

Mar. 12, 2019 USD ($)

Mar. 08, 2019 USD ($)

Feb. 05, 2019 USD ($)

Jun. 07, 2018 USD ($)

Dec. 22, 2017 USD ($)

Dec. 22, 2017 HKD ($)

May 10, 2017 USD ($)

Apr. 28, 2017 USD ($)

Dec. 27, 2016 USD ($)

Dec. 28, 2015 USD ($)

Jan. 31, 2020 USD ($)

Dec. 31, 2016 USD ($)

Mar. 31, 2016 USD ($)

Dec. 31, 2015 USD ($)

Dec. 31, 2018 USD ($)

Dec. 31, 2022 USD ($)

Dec. 31, 2021 USD ($)

Dec. 31, 2020 USD ($)

Dec. 31, 2019 USD ($)

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill [Abstract]

Goodwill

$ 60,103,000

$ 385,000

$ 5,107,000

$ 3,906,000

Boca International Limited

Business Acquisition [Line Items]

Net assets (liabilities) acquired

$ (337,000)

Deferred tax liabilities

(6,638,000)

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill [Abstract]

Goodwill

36,504,000

Total purchase price comprised of:

Cash consideration

$ 52,000,000

52,000,000

$ 52,000,000

share-based consideration

4,080,000

Total

56,080,000

Boca International Limited | Production Backlog

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill [Abstract]

Amortizable intangible assets

372,000

Boca International Limited | Proprietary technology

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill [Abstract]

Amortizable intangible assets

$ 26,179,000

CSL

Business Acquisition [Line Items]

Net assets (liabilities) acquired

$ (67,000)

Deferred tax liabilities

(4,920,000)

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill [Abstract]

Goodwill

20,230,000

Total purchase price comprised of:

Cash consideration

32,600,000

$ 32,600,000

$ 32,000,000

share-based consideration

2,325,000

Total

$ 12,750,000

$ 99,450

34,925,000

$ 35,000,000

CSL | Proprietary technology

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill [Abstract]

Amortizable intangible assets

$ 19,682,000

Giant Credit Limited ("GCL")

Business Acquisition [Line Items]

Net assets (liabilities) acquired

$ 2,113,000

Property, plant and equipment

508,000

Deferred tax liabilities

(7,000)

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill [Abstract]

Goodwill

248,000

Total purchase price comprised of:

Cash consideration

2,350,000

$ 19,600

share-based consideration

2,354,000

Total

2,354,000

$ 19,600

Vision Lane Limited

Total purchase price comprised of:

Cash consideration

$ 7,460,000

$ 6,410,000

Total

$ 12,740,000

$ 12,420,000

Vision Lane Limited And First Asia Finance Limited

Business Acquisition [Line Items]

Net assets (liabilities) acquired

$ 9,165,000

Property, plant and equipment

1,095,000

Deferred tax liabilities

(124,000)

Income tax payable

81,000

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill [Abstract]

Goodwill

3,658,000

Total purchase price comprised of:

Cash consideration

7,457,000

share-based consideration

5,242,000

Total

$ 12,699,000

Paris Sky Limited

Business Acquisition [Line Items]

Property, plant and equipment

$ 52,994,000

Allowance on guarantee

(817,000)

Other assets acquired (including cash of $1,957, other assets of $50, Other payables of $170 and income tax payable of $4)

1,833,000

Deferred tax assets

116,000

Deferred tax liabilities

(5,998,000)

Income tax payable

4,000

Total purchase price comprised of:

share-based consideration

4,784,000

Total

48,128,000

Paris Sky Limited | Equity Interest In BOCA

Total purchase price comprised of:

Total

23,699,000

Paris Sky Limited | EquityInterestInCslMember

Total purchase price comprised of:

Total

16,170,000

Paris Sky Limited | Promissory Note

Total purchase price comprised of:

Total

$ 3,475,000

GFS

Business Acquisition [Line Items]

Net assets (liabilities) acquired

617,000

Property, plant and equipment

7,000

Deferred tax liabilities

(715,000)

Income tax payable

$ 14,000

387,000

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill [Abstract]

Amortizable intangible assets

4,336,000

Goodwill

60,103,000

Total purchase price comprised of:

Cash consideration

21,795,000

Consideration in the form of a promissory note

28,473,000

share-based consideration

14,073,000

Total

$ 64,341,000

Apiguru

Business Acquisition [Line Items]

Net assets (liabilities) acquired

$ 20,000

Deferred tax liabilities

(10,000)

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill [Abstract]

Amortizable intangible assets

39,000

Goodwill

539,000

Total purchase price comprised of:

share-based consideration

588,000

Total

$ 588,000

$ 500,000

$ 695,000

Property, plant and equipment_2

Property, plant and equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Plant and equipment, gross	$ 59,471	$ 59,219
Impairment	(1,554)	(1,415)
Less: accumulated depreciation	(9,262)	(7,214)
Plant and equipment, net	48,655	50,590
Leasehold land and buildings.
Property, Plant and Equipment [Line Items]
Plant and equipment, gross	59,065	58,927
Leasehold improvements
Property, Plant and Equipment [Line Items]
Plant and equipment, gross	18	17
Machinery and equipment
Property, Plant and Equipment [Line Items]
Plant and equipment, gross	17	14
Vehicles and office equipment
Property, Plant and Equipment [Line Items]
Plant and equipment, gross	$ 371	$ 261

Property, plant and equipment_3

Property, plant and equipment (Additional Information) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Impairment loss of property, plant and equipment	$ 1,554	$ 1,415
Continuing Operation
Depreciation	1,952	1,953	$ 2,099
Impairment loss of property, plant and equipment	139	0	970
Discontinued Operation
Depreciation	$ 0	$ 0	$ 209

Property, plant and equipment -

Property, plant and equipment - Foot note (Details) $ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 HKD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 HKD ($)
Luk Lai Ching Kimmy
Shareholding percentage held	4.20%
Asset Pledged as Collateral \| OCBC Wing Hang Bank Limited
Long-term bank loan	$ 6,410				$ 50,000
Asset Pledged as Collateral \| United Overseas Bank Limited
Long-term bank loan			$ 127,540	$ 16,350
Leasehold land and buildings. \| OCBC Wing Hang Bank Limited
Property, plant and equipment	$ 47,670
Leasehold land and buildings. \| United Overseas Bank Limited
Property, plant and equipment		$ 4,370

Intangible assets, net (Details

Intangible assets, net (Details) - USD ($) $ in Thousands	12 Months Ended
Intangible assets, net (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Accumulated amortization	$ (2,898)	$ (2,883)
Impairment	1,432	1,432
Exchange difference	(1)	(2)
Intangible assets, net	42	61
Trademarks
Finite-Lived Intangible Assets, Gross	1,550	1,550
Service Contract
Finite-Lived Intangible Assets, Gross	2,786	2,786
Computer Software
Finite-Lived Intangible Assets, Gross	$ 37	$ 42

Intangible assets, net (Additio

Intangible assets, net (Additional Information) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Impairment		$ 202	$ 1,230
Continuing Operation
Amortization of Intangible Assets	$ 18	181	2,702
Impairment		$ 202	1,230
Discontinued Operation
Amortization of Intangible Assets			$ 314

Intangible assets, net (Schedul

Intangible assets, net (Schedule of Amortization Expenses Related to Intangible Assets) (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Intangible assets, net
2023	$ 13
2024	5
2025	5
2026	5
2027	5
2028 and thereafter	$ 9

Goodwill (Schedule of Goodwill)

Goodwill (Schedule of Goodwill) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Balance	$ 385	$ 5,107	$ 3,906
Goodwill, Impairment Loss		(4,740)	(59,440)
Impairment loss of goodwill		4,740	59,440
Balance	$ 385	385	5,107
GFS
Goodwill, Acquired During Period			60,103
Goodwill, Impairment Loss			(55,535)
Impairment loss of goodwill			55,535
Apiguru Pty Limited ("Apiguru")
Goodwill, Acquired During Period			539
Giant Credit Limited, Vision Lane Limited And First Asia Finance Limited
Goodwill, Impairment Loss			(3,906)
Impairment loss of goodwill			$ 3,906
GFS and Apiguru
Goodwill, Impairment Loss		(4,740)
Exchange difference		18
Impairment loss of goodwill		$ 4,740

Goodwill (Additional Informatio

Goodwill (Additional Information) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Impairment loss of goodwill		$ 4,740	$ 59,440
Continuing Operation \| Money lending services
Impairment loss of goodwill		0	3,910
Discontinued Operation \| Virtual reality technologies
Impairment loss of goodwill				$ 20,560
Discontinued Operation \| Financial technology solutions and services
Impairment loss of goodwill	$ 0	$ 4,740	$ 55,530

Bank loan (Additional Informati

Bank loan (Additional Information) (Details) - OCBC Wing Hang Bank Limited $ in Thousands, $ in Thousands	Dec. 10, 2019 HKD ($) installment	Dec. 10, 2019 USD ($) installment	Dec. 10, 2019 USD ($)
Maximum borrowing amount	$ 50,000		$ 6,410
Amount borrowed	$ 50,000	$ 6,410
Number of equal monthly installments	300	300
3 Month HIBOR
Variable spread rate	1.80%	1.80%
Interest rate	4.23%	4.23%

Warrant derivative liability (I

Warrant derivative liability (Investor Warrants) (Details) - USD ($) $ / shares in Units, $ in Thousands	Jun. 18, 2020	Apr. 05, 2017	Dec. 31, 2021	Nov. 15, 2017	Nov. 13, 2017
Class of warrant or right, outstanding				896,739
Private Placement [Member] \| Investor [Member]
Exercise Price				$ 1	$ 0.80
Class of warrant or right, outstanding			422,922
Fair value of warrants			$ 203
Securities Purchase Agreement [Member]
Number of shares issued	4,500,000	434,783
warrants to purchase		326,087
Exercise Price		$ 2.75
Warrants issued percentage		75%

Warrant derivative liability (P

Warrant derivative liability (Placement Agent Warrants) (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	Apr. 05, 2017	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Nov. 15, 2017
Class of warrant or right, outstanding					896,739
Change in fair value of warrant derivative liability		$ 0	$ 247	$ 4
Placement Agent Warrants [Member]
Issued warrants	34,783
Placement agent	8%
Exercise Price					$ 1
Class of warrant or right, outstanding			95,653		95,653
Fair value of warrants		$ 46

Warrant derivative liability (W

Warrant derivative liability (Warrant activity) (Details) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2019
Warrant derivative liability
Number of Warrants, Outstanding at Beginning	518,575
Number of Warrants, Exercisable at Beginning	518,575
Number of Warrants, Exercised	(518,575)	298,914
Number of Warrants, Outstanding at Ending		518,575	817,489
Number of Warrants, Exercisable at Ending		518,575	817,489
Average Exercise Price, Outstanding at Beginning	$ 1
Average Exercise Price, Exercisable at Beginning	1
Average Exercise Price, Exercised	$ 1	$ 1
Average Exercise Price, Outstanding at Ending		1	$ 1
Average Exercise Price, Exercisable at Ending		$ 1	$ 1
Weighted Average Remaining Contractual Contractual Term in Years, Outstanding		3 months 3 days	1 year 3 months 3 days

Convertible notes (Schedule of

Convertible notes (Schedule of Convertible Notes) (Details) - USD ($)			12 Months Ended
	Apr. 30, 2020	Apr. 18, 2018	Dec. 31, 2022	Dec. 31, 2021	Jan. 31, 2020
Convertible notes
Purchased note		$ 5,779,602,000
Interest rate		2.50%		5%	8%
Debt Instrument, term		5 years
Optional Conversion Amount		3,853,068
Conversion price		$ 1.50
2018 Notes
Convertible notes
Conversion price			$ 1.38
Present value of the expected dividend			$ 500,000
Fair value of the liability component is attributable to equity component			$ 5,300,000
Debt instrument issue price			$ 1.07
Century Skyway Limited \| 2019 Notes
Convertible notes
Principal amount	$ 160,000
Fair value of the liability component is attributable to equity component	3,600,000
Principal amount to be surrendered in the disposal	$ 3,760,000
Number of shares to sell	5,100

Other payables and accrued li_3

Other payables and accrued liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Other payables and accrued liabilities
Accrued professional fees	$ 308	$ 234
Accrued staff costs and staff benefits	49	35
Rental deposits from tenants	205	191
Rental receipt in advance	10	7
Interest receipt in advance		5
Advances from unrelated parties	409	448
Others	279	689
Other payables and accrued liabilities	$ 1,260	$ 1,609

Equity transactions (Details)

Equity transactions (Details) - USD ($) $ / shares in Units, $ in Thousands					12 Months Ended
	Jun. 18, 2020	Apr. 17, 2020	Jan. 06, 2020	Apr. 05, 2017	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Jun. 26, 2018	Jun. 25, 2018	Jan. 19, 2016	Jan. 18, 2016	Jan. 29, 2008
Class of Stock [Line Items]
Preferred stock, shares authorized					1,000,000	1,000,000		10,000,000	1,000,000			1,000,000
Preferred stock, shares issued					0	0
Preferred stock, shares outstanding					0	0
Number of Warrants, Exercised					(518,575)	298,914
Number of shares issued for exercise of warrants						439,770
Ordinary shares, par value					$ 0.004	$ 0.004		$ 0.004	$ 0.004	$ 0.004	$ 0.001
Share price							$ 1.45
Aggregate proceeds							$ 3,600
Ordinary shares issued to employees, directors and consultants			80,000
Grant date fair value for ordinary shares issued to independent directors and certain employees			$ 1
Stock Purchase Agreement
Class of Stock [Line Items]
Number of shares issued		4,500,000
Ordinary shares, par value		$ 0.004
Share price		$ 0.80
Aggregate proceeds		$ 3,600
Securities Purchase Agreement [Member]
Class of Stock [Line Items]
Number of shares issued	4,500,000			434,783
Aggregate proceeds	$ 3,600
Investor [Member]
Class of Stock [Line Items]
Number of Warrants, Exercised						422,922
Placement Agent Warrants [Member]
Class of Stock [Line Items]
Number of Warrants, Exercised						95,653

Income taxes (Details)

Income taxes (Details) - USD ($) $ in Thousands	12 Months Ended
Income taxes (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Taxes
Withholding income tax dividend distribution	10%
Other income tax expense (benefit), continuing operations	$ 970,000	$ 1,156,000	$ 1,870,000
U.S. Statutory rates	21%	21%	21%
Income Tax Benefit (Expenses)	$ (56)	$ (126)	$ (309)
PRC Entities
Income Taxes
Operating loss carryforwards	$ 917	3,131
Enterprise Income Tax
Income Taxes
U.S. Statutory rates	25%
Scenario, Plan
Income Taxes
U.S. Statutory rates	21%
Hong Kong
Income Taxes
Income Tax Benefit (Expenses)	$ (195)	$ (188)	$ (741)
Hong Kong \| SGOCO International (HK) Limited
Income Taxes
U.S. Statutory rates	16.50%	16.50%	16.50%
Hong Kong \| First-tier rate
Income Taxes
U.S. Statutory rates	8.25%	8.25%	8.25%
Hong Kong \| Second-tier rate
Income Taxes
U.S. Statutory rates	16.50%	16.50%	16.50%
Domestic Tax Authority \| SGOCO International (HK) Limited
Income Taxes
Income Tax Benefit (Expenses)			$ 0

Income taxes - Schedule Of Comp

Income taxes - Schedule Of Components Of Income Tax Expense Benefit (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income tax expenses	$ (56)	$ (126)	$ (309)
Deferred income tax benefit	(252)	(314)	(1,048)
Income Tax Expense (Benefit)	56	126	309
Hong Kong
Income tax expenses	(195)	(188)	(741)
Deferred income tax benefit	251	314	1,050
Income Tax Expense (Benefit)	$ 195	$ 188	$ 741

Income taxes - Schedule of effe

Income taxes - Schedule of effective tax rate (Details)	12 Months Ended
Income taxes - Schedule of effective tax rate (Details)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income taxes
U.S. Statutory rates	21%	21%	21%
Foreign income not recognized in USA	(21.00%)	(21.00%)	(21.00%)
China income taxes (including Hong Kong SAR)	4.10%	13.60%	16%
Australia income taxes	(0.60%)	1.10%
Impact of tax rate in other jurisdictions	(1.30%)	(6.40%)	(5.00%)
Impact of tax reduction of Hong Kong profits tax	0.10%
Tax effect of non-deductible expenses	(0.40%)	(7.90%)	(10.40%)
Valuation allowance	4.20%	0.40%	(0.10%)
Under provision in respect of prior years	(1.60%)	(2.20%)	(0.70%)
Other	0.10%	2.90%	0.60%
Effective income taxes	4.60%	1.50%	0.40%

Income taxes - Components of De

Income taxes - Components of Deferred Income Tax Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Deferred income tax assets:
Net operating loss carry-forward	$ 531	$ 647
Less: Valuation allowance	(531)	(647)
Deferred income tax assets, net		0
Intangible assets	8	12
Property, plant and equipment	5,273	5,521
Interest income	12	12
Deferred tax liabilities, non current	$ 5,293	$ 5,545

Loss per share (Details)

Loss per share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Net loss attributable to ordinary shareholders of SGOCO Group Ltd.
- continuing operations	$ (346)	$ (8,413)	$ (67,923)
- discontinued operations			5
Net loss	$ (346)	$ (8,413)	$ (67,918)
Weighted average shares used in calculating loss per share - basic	101,597,998	101,563,623	98,110,873
Weighted average shares used in calculating loss per share - diluted	101,597,998	101,563,623	98,110,873
Loss from continuing operations per share - basic	$ (0.01)	$ (0.08)	$ (0.69)
Loss from continuing operations per share - diluted	(0.01)	(0.08)	(0.69)
Loss from discontinued operations per share - basic	0	0	0
Loss from discontinued operations per share -diluted	0	0	0
Net loss per share - basic	(0.01)	(0.08)	(0.69)
Net loss per share - diluted	$ (0.01)	$ (0.08)	$ (0.69)

Segment information (Details)

Segment information (Details) - USD ($) $ in Thousands	12 Months Ended
Segment information (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues	$ 3,875	$ 3,683	$ 4,293
Gross profit (loss)	822	360	(1,066)
Operating expenses	(1,358)	(9,165)	(66,276)
Operating loss from continuing operations	(536)	(8,805)	(67,342)
Other income	134	266	(890)
Loss before provision for income taxes and non-controlling interests	(402)	(8,539)	(68,232)
Income tax expenses	56	126	309
Net loss from continuing operations	(346)	(8,413)	(67,923)
Identifiable long-lived assets	48,697	50,651	52,587
Total assets	69,686	70,346	90,130
Corporate unallocated
Operating expenses	(986)	(1,322)	(831)
Operating loss from continuing operations	(986)	(1,322)	(831)
Other income	(2)	162	(457)
Loss before provision for income taxes and non-controlling interests	(988)	(1,160)	(1,288)
Net loss from continuing operations	(988)	(1,160)	(1,288)
Total assets	297	452	17
Operating Segments \| LCD/LED Products
Operating expenses	(4)	(95)	(616)
Operating loss from continuing operations	(4)	(95)	(616)
Other income			(306)
Loss before provision for income taxes and non-controlling interests	(4)	(95)	(922)
Net loss from continuing operations	(4)	(95)	(922)
Identifiable long-lived assets	1	1	1
Total assets	201	205	375
Operating Segments \| Money lending services
Revenues	2,451	1,673	1,667
Gross profit (loss)	1,862	1,472	1,565
Operating expenses	165	(2,092)	(3,048)
Operating loss from continuing operations	2,027	(620)	(1,483)
Other income	30		22
Loss before provision for income taxes and non-controlling interests	2,057	(620)	(1,461)
Income tax expenses	(181)	(187)	(534)
Net loss from continuing operations	1,876	(807)	(1,995)
Identifiable long-lived assets	517	555	468
Total assets	14,466	12,986	25,625
Operating Segments \| Property lease and management
Revenues	1,106	1,068	1,130
Gross profit (loss)	(1,065)	(1,036)	(1,193)
Operating expenses	(497)	(576)	(4,889)
Operating loss from continuing operations	(1,562)	(1,612)	(6,082)
Other income	107	97	(159)
Loss before provision for income taxes and non-controlling interests	(1,455)	(1,515)	(6,241)
Income tax expenses	245	249	400
Net loss from continuing operations	(1,210)	(1,266)	(5,841)
Identifiable long-lived assets	48,127	50,018	51,667
Total assets	49,071	50,619	52,116
Operating Segments \| Financial technology solutions and services
Revenues	318	942	1,496
Gross profit (loss)	25	(76)	(1,438)
Operating expenses	(36)	(5,080)	(56,892)
Operating loss from continuing operations	(11)	(5,156)	(58,330)
Other income	(1)	7	10
Loss before provision for income taxes and non-controlling interests	(12)	(5,149)	(58,320)
Income tax expenses	(8)	64	443
Net loss from continuing operations	(20)	(5,085)	(57,877)
Identifiable long-lived assets	52	77	451
Total assets	$ 5,651	$ 6,084	$ 11,997

Segment information - Revenue n

Segment information - Revenue net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues from External Customers and Long-Lived Assets
Revenues	$ 3,875	$ 3,683	$ 4,293
Hong Kong
Revenues from External Customers and Long-Lived Assets
Revenues	3,597	3,489	4,235
Australia
Revenues from External Customers and Long-Lived Assets
Revenues	$ 278	$ 194	$ 58

Leases (Details)

Leases (Details) $ in Thousands, $ in Thousands			12 Months Ended
Leases (Details) $ in Thousands, $ in Thousands	Mar. 23, 2022 HKD ($)	Mar. 23, 2022 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Term of lease	2 years	2 years
Monthly rental payment	$ 15	$ 2
Mortgage loans on real estate interest rate			5.63%
Operating lease expense	$ 15	$ 2
Continuing Operation
Monthly rental payment			$ 167	$ 166	$ 125
Operating lease expense			$ 167	$ 166	125
Discontinued Operation
Monthly rental payment					41
Operating lease expense					$ 41

Leases (Maturity of lease liabi

Leases (Maturity of lease liabilities) (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Maturities of lease liabilities
2023	$ 23
2024	4
Total operating lease payments	27
Less: imputed interest	(7)
Present value of operating lease liabilities	$ 20

Leases (schedule of minimum fut

Leases (schedule of minimum future rents on non-cancelable operating leases) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Leases
2023	$ 925
2024	392
2025	72
2026	38
2027	25
Total	1,452
Contingent rentals	$ 0	$ 0

Restatement (Details)

Restatement (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Restatement
Financial statements in other receivables and prepayments and additional paid-in-capital	$ 861	$ 1,461

Restatement - Restatements on t

Restatement - Restatements on the Consolidated Financial Statements as Previously Reported (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2022
Restatement
Other receivables and prepayments	$ 222				$ 205
Total assets	70,346	$ 90,130			69,686
Additional paid-in-capital	135,643				135,674
Total TROOPS, Inc. shareholders' equity	62,524				62,204
Total shareholders' equity	62,524	70,627	$ 119,765		62,204
Shares issued for compensation plan	263	680
Restatement
Restatement
Other receivables and prepayments			5,904
Total assets			139,717
Additional paid-in-capital			116,943
Total TROOPS, Inc. shareholders' equity			119,569
Total shareholders' equity			119,765
Previously Reported
Restatement
Other receivables and prepayments			6,765
Total assets			140,578
Additional paid-in-capital			117,804
Total TROOPS, Inc. shareholders' equity			120,430
Total shareholders' equity			120,626
Discontinued Operation
Restatement
Other receivables and prepayments		37
Additional Paid-in Capital
Restatement
Total shareholders' equity	135,643	135,347	116,943		$ 135,674
Shares issued for compensation plan	$ 262	$ 679
Additional Paid-in Capital \| Restatement
Restatement
Total shareholders' equity			116,943	$ 115,187
Shares issued for compensation plan			600	526
Additional Paid-in Capital \| Previously Reported
Restatement
Total shareholders' equity			$ 117,804	116,648
Shares issued for compensation plan				$ 1,987

Quantitative and qualitative _3

Quantitative and qualitative disclosure about market risk - Provision for loan losses and interest receivable (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Movement of the provision for loan losses and interest receivable
Balance as of January 1	$ 3,558	$ 2,172
Write offs	(513)
Recoveries of amounts previously charged off	(975)	(492)
Balance as of December 31	2,072	3,558
Personal Loans
Movement of the provision for loan losses and interest receivable
Provisions for doubtful accounts	1	450
Corporate Loans
Movement of the provision for loan losses and interest receivable
Provisions for doubtful accounts	$ 1	$ 1,428

Quantitative and qualitative _4

Quantitative and qualitative disclosure about market risk - Provision for account receivable, other receivable (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Quantitative and qualitative disclosure about market risk
Balance as of January 1	$ 132	$ 39
Provisions for doubtful accounts	3	93
Balance as of December 31	$ 135	$ 132

Quantitative and qualitative _5

Quantitative and qualitative disclosure about market risk - Geographical area (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues from External Customers and Long-Lived Assets
Total	$ 3,873	$ 3,683	$ 4,293
Hong Kong
Revenues from External Customers and Long-Lived Assets
Total	3,595	3,489	4,235
Australia
Revenues from External Customers and Long-Lived Assets
Total	$ 278	$ 194	$ 58

Quantitative and qualitative _6

Quantitative and qualitative disclosure about market risk - Additional Information (Details)		12 Months Ended
	Dec. 31, 2020	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Mar. 23, 2023 USD ($)	Dec. 31, 2022 HKD ($)	Dec. 31, 2021 HKD ($)
Concentration Risk
Provision for loan losses during the period		$ 970,000	$ 1,390,000	$ 1,980,000
Outstanding principal						$ 97,888,522
Accrued interest on loans						28,613
Cash and bank deposits		$ 2,950,000				$ 500,000	$ 500,000
Maturity term of time deposits		5 years
Subsequent event
Concentration Risk
Cash and bank deposits					$ 3,180,000
Mr. Or
Concentration Risk
Loan receivable		$ 0	$ 0
Alpen Baruch Bank
Concentration Risk
Cash at bank		$ 230,000
Alpen Baruch Bank \| Subsequent event
Concentration Risk
Cash at bank					$ 130,000
Sales Revenue \| Customer concentration \| Major Customer One
Concentration Risk
Concentration risk percentage		18%	17%
Sales Revenue \| Customer concentration \| Major Customer Two
Concentration Risk
Concentration risk percentage	10%	13%
Loans receivable \| Customer One \| Customer concentration
Concentration Risk
Concentration risk percentage		11%	11%
Loans receivable \| Customer Two \| Customer concentration
Concentration Risk
Concentration risk percentage		14%	15%
Loans receivable \| Customer Three \| Customer concentration
Concentration Risk
Concentration risk percentage		20%	21%
Loans receivable \| Customer Four \| Customer concentration
Concentration Risk
Concentration risk percentage		23%	26%
Cost of revenue \| Supplier concentration \| Supplier one
Concentration Risk
Concentration risk percentage		14%	15%

Employee pension - Additional I

Employee pension - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Percentage of monthly contributions made by the company to the state retirement plan	20%
Percentage of monthly salaries for all Hong Kong based employees to mandatory provident fund Schemes	5%
Percentage of monthly salaries for all Australia based employees to Superannuation Schemes	9.50%
Continuing Operation
Pension expense	$ 22	$ 32	$ 20
Discontinued Operation
Pension expense	$ 0		$ 4

Related party transactions (Det

Related party transactions (Details) $ in Thousands	12 Months Ended
Related party transactions (Details) $ in Thousands	Dec. 31, 2022 USD ($)	Dec. 31, 2022 HKD ($)	Dec. 31, 2020	Mar. 23, 2023 USD ($)	Dec. 31, 2022 HKD ($)	Dec. 31, 2021 USD ($)	Jan. 31, 2020 USD ($)	Apr. 18, 2018
Related Party Transaction [Line Items]
Debt Instrument, Interest Rate, Stated Percentage						5%	8%	2.50%
Loans to unrelated parties	$ 13,860	$ 108,120,000
Loans receivable					$ 97,888,522
Outstanding loan receivable balance	8,380					$ 2,446
Accrued interest receivable					28,613
Alpen Baruch Bank
Related Party Transaction [Line Items]
Cash deposit	230
Alpen Baruch Bank \| Subsequent event
Related Party Transaction [Line Items]
Cash deposit				$ 130
Loan agreement
Related Party Transaction [Line Items]
Accrued interest receivable	$ 13,860				$ 108,120,000
Promissory Note
Related Party Transaction [Line Items]
Debt Instrument, Face Amount							$ 28,470
Luk Lai Ching Kimmy
Related Party Transaction [Line Items]
Shareholding percentage held			4.20%