ESGL Holdings Ltd, a waste management and recycling company, reported a significant increase in revenue for the financial year ended December 31, 2023, compared to the previous year. The company's revenue rose by 23.5% to approximately $6.2 million, primarily due to an increase in waste disposal services. However, the company faced a substantial net loss of $94,979,338 for the year, largely attributed to listing expenses amounting to $93,067,324. The company's financial performance was also impacted by depreciation and amortization expenses, employee benefits expense, finance expense, and other operating expenses. Despite the net loss, ESGL Holdings Ltd continued to invest in property, plant, and equipment, as well as intangible assets, to support its business operations. The company's total assets remained relatively stable at approximately...Show More

ESGL Holdings Ltd, a waste management and recycling company, reported a significant increase in revenue for the financial year ended December 31, 2023, compared to the previous year. The company's revenue rose by 23.5% to approximately $6.2 million, primarily due to an increase in waste disposal services. However, the company faced a substantial net loss of $94,979,338 for the year, largely attributed to listing expenses amounting to $93,067,324. The company's financial performance was also impacted by depreciation and amortization expenses, employee benefits expense, finance expense, and other operating expenses. Despite the net loss, ESGL Holdings Ltd continued to invest in property, plant, and equipment, as well as intangible assets, to support its business operations. The company's total assets remained relatively stable at approximately $25.6 million. ESGL Holdings Ltd's financial position reflects net current liabilities of $13,764,230, raising concerns about its ability to continue as a going concern. The company's equity stood at $8,020,757, with a share capital of $10,892 and accumulated losses of $99,985,928. The company's financial statements do not include any adjustments that might result from the outcome of the going concern uncertainty. In terms of business development, ESGL Holdings Ltd has focused on expanding its waste management services and developing new operating capabilities and technology. The company's growth strategy includes mergers and acquisitions, overseas market expansion, and continuous investment in research and development. ESGL Holdings Ltd's future plans involve enhancing its waste treatment methodologies and exploring collaborations with third-party institutions to innovate in the realm of waste management and treatment.