| For the year ended December 31, | ||||||||||||
| 2022 | 2023 | 2023 | ||||||||||
| S$’000 | S$’000 | US$’000 | ||||||||||
| Net loss | (4,960) | (12,869) | (9,755) | |||||||||
| Depreciation and amortization expenses | 301 | 402 | 305 | |||||||||
| Finance costs | 198 | 446 | 338 | |||||||||
| Impairment of goodwill | - | 664 | 503 | |||||||||
| Share-based payment expenses | - | 6,959 | 5,275 | |||||||||
| Adjusted EBITDA | (4,461) | (4,398) | (3,334) | |||||||||
| Class A Ordinary Shares | Class B Ordinary Shares | |||||||||||||||||||||||||||
| Shares | % | % of Voting Power | Shares | % | % of Voting Power | % of Aggregate Voting Power | ||||||||||||||||||||||
| Directors and Executive Officers: | ||||||||||||||||||||||||||||
| Zou Junming Terence | - | - | - | 2,177,175 | 11.23 | 42.47 | 42.47 | |||||||||||||||||||||
| Lang Chen Fei | 25,000 | 0.13 | 0.05 | - | - | - | 0.05 | |||||||||||||||||||||
| Tan Ting Yong | - | - | - | - | - | - | - | |||||||||||||||||||||
| Khoo Su Nee Joanne | - | - | - | - | - | - | - | |||||||||||||||||||||
| Poon Wai Hong | - | - | - | - | - | - | - | |||||||||||||||||||||
| Venkata Subramanian s/o Sreenivasan | - | - | - | - | - | - | - | |||||||||||||||||||||
| All Directors and Executive Officers as a Group | 25,000 | 0.13 | 0.05 | 2,177,175 | 11.23 | 42.47 | 42.52 | |||||||||||||||||||||
| Principal Shareholders: | ||||||||||||||||||||||||||||
| DLG Ventures Pte. Ltd.(1) | 6,665,513 | 34.39 | 13.00 | 1,365,225 | 7.04 | 26.63 | 39.63 | |||||||||||||||||||||
| Tan Choon Ming | 1,159,113 | 5.98 | 2.26 | - | - | - | 2.26 | |||||||||||||||||||||
| All Directors and Executive Officers as a Group, and Principal Shareholders | 7,849,626 | 40.50 | 15.31 | 3,542,400 | 18.27 | 69.10 | 84.41 | |||||||||||||||||||||
| Year ended December 31, | ||||||||||||
| 2022 | 2023 | 2023 | ||||||||||
| S$’000 | S$’000 | US$’000 | ||||||||||
| Interest expense on note from a shareholder | 5 | 171 | 130 | |||||||||
| 2022 | 2023 | 2023 | ||||||||||||||
| For the year ended December 31, | ||||||||||||||||
| 2021 | 2022 | 2023 | 2023 | |||||||||||||
| S$’000 | S$’000 | S$’000 | US$’000 | |||||||||||||
| CASH FLOWS FROM OPERATING ACTIVITIES | ||||||||||||||||
| Net loss | (1,240) | (4,960) | (12,869) | (9,755) | ||||||||||||
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ||||||||||||||||
| Amortization | 265 | 287 | 340 | 258 | ||||||||||||
| Depreciation | 8 | 14 | 62 | 47 | ||||||||||||
| Loss/(Gain) on disposal of property and equipment | 1 | - | * | - | - | |||||||||||
| Interest expense | - | - | 355 | 269 | ||||||||||||
| Amortization of debt issuance cost | - | - | 91 | 69 | ||||||||||||
| Impairment of goodwill | - | - | 664 | 503 | ||||||||||||
| Share-based payment expenses | - | - | 6,959 | 5,275 | ||||||||||||
| Net effect of exchange rates changes | - | - | 5 | 4 | ||||||||||||
| Change in operating assets and liabilities, net of impact of business acquisitions and disposals: | ||||||||||||||||
| Accounts receivable | (11) | (59) | 52 | 39 | ||||||||||||
| Deposits, prepaid expenses and other current assets | (302) | (16) | 107 | 81 | ||||||||||||
| Accounts payable | 860 | 539 | 1,895 | 1,436 | ||||||||||||
| Accrued expenses and other current liabilities | 307 | 354 | 727 | 551 | ||||||||||||
| Net cash used in operating activities | (112) | (3,841) | (1,612) | (1,223) | ||||||||||||
| CASH FLOWS FROM INVESTING ACTIVITIES | ||||||||||||||||
| Purchase of property and equipment | (26) | (15) | (3) | (2) | ||||||||||||
| Proceeds from disposal of property and equipment | - | - | * | - | - | |||||||||||
| Additions in intangible assets | (303) | (467) | (482) | (365) | ||||||||||||
| Cash acquired from acquisition of subsidiaries | - | - | 63 | 48 | ||||||||||||
| Net cash used in investing activities | (329) | (482) | (422) | (319) | ||||||||||||
| CASH FLOWS FROM FINANCING ACTIVITIES | ||||||||||||||||
| Proceeds from borrowings | 500 | 5,200 | 2,850 | 2,160 | ||||||||||||
| Repayments of borrowings | - | (500) | - | - | ||||||||||||
| Repayments of lease liabilities | - | - | (50) | (38) | ||||||||||||
| Deferred IPO costs | - | - | (2,079) | (1,575) | ||||||||||||
| Net cash provided by financial activities | 500 | 4,700 | 721 | 547 | ||||||||||||
| Net change in cash and cash equivalents | 59 | 377 | (1,313) | (995) | ||||||||||||
| Cash, cash equivalents and restricted cash - beginning of period | 2,571 | 2,630 | 3,007 | 2,279 | ||||||||||||
| Cash, cash equivalents and restricted cash - end of period | 2,630 | 3,007 | 1,694 | 1,284 | ||||||||||||
| Supplemental disclosure of cash flow information | ||||||||||||||||
| Cash paid for interest | - | - | - | - | ||||||||||||
| Cash paid for income tax | - | - | - | - | ||||||||||||
| Non-cash investing activities | ||||||||||||||||
| Non-cash transactions from acquisition of subsidiaries | - | - | 600 | 455 | ||||||||||||
| December 31, 2022 | December 31, 2023 | December 31, 2023 | ||||||||||
| S$’000 | S$’000 | US$’000 | ||||||||||
| Acquisition | - | 664 | 491 | |||||||||
| Goodwill impairment | - | (664) | (491) | |||||||||
| Total goodwill net | - | - | - | |||||||||
