アメリカ合衆国

証券取引委員会

ワシントンD.C.,20549

 

形式 20-F

 

(マーク1)

 

↓ ↓ 1934 年の証券取引法第 12 条 ( b ) または ( g ) に従う登録声明

 

OR

 

」と 1934 年証券取引所法第 13 条または第 15 条 ( d ) に基づく年次報告書

 

本財政年度末まで十二月三十一日, 2023

 

OR

 

↓ ↓ 1934 年証券取引所法第 13 条または第 15 条 ( d ) に基づく移行報告書

 

移行期になります                                 

 

OR

 

↓ ↓ 1934 年証券取引法第 13 条または第 15 条 ( d ) に基づくシェル · カンパニーの報告書

 

登録者が A である場合はチェックマークで示します。 証券法第 405 条に定義されている有名な経験豊富な発行者。

 

↓ ↓001-38018

 

A black letter with a arrow  Description automatically generated

 

はい

」と

違います。

 

この報告書が年次または移行報告書である場合、 証券取引法第 13 条または第 15 条 ( d ) に基づく報告書の提出が義務付けられていない場合はチェックマークで示します。 1934 年の。

↓ ↓

 

はい ,

」と,

40150違います。チェックマークで登録者が (1)過去 12 ヶ月間に 1934 年証券取引法第 13 条または第 15 条 ( d ) によって提出されるすべての報告書を提出している。 (or登録者がそのような報告書を提出する必要があったような短い期間 ) 、および ( 2 ) そのような提出要件の対象となっている。 過去 90 日間です , 」と

 

はい

↓ ↓

 

いいえチェックマークで登録者が 規制 S—t ( § 232.405 ) の規則 405 に従って提出する必要があるすべてのインタラクティブデータファイルを電子的に提出しました。 この章 ) の前の 12 ヶ月間 ( または登録者がそのようなファイルを提出する必要があった短い期間 ) 。

」と, はい, ↓ ↓ 2000, いいえ

チェックマークで登録者が 大規模な加速ファイラー、加速ファイラー、非加速ファイラーまたは新興成長企業です。「大」の定義を参照 取引法規則 120億 2 において、「加速ファイラー」、「加速ファイラー」および「新興成長企業」を指定します。大型加速ファイルサーバ 7324 6018↓ ↓ファイルマネージャを加速する

↓ ↓

 

 

非加速ファイルサーバ

 

」と   新興成長型会社   」と
新興成長企業がその準備をする場合 米国 GAAP に準拠した財務諸表、登録者が延長移行を使用しないことを選択した場合はチェックマークで示します。 取引所第 13 条 ( a ) に基づいて規定された新規または改訂された財務会計基準 † を遵守するための期間 行為。
↓ ↓   登録者がチェックマークで表示する 財務に対する内部統制の有効性に関する経営陣の評価に関する報告書及び証明書を提出した。 Sarbanes—Oxley 法 ( 15 U. S.C. ) のセクション 404 ( b ) に基づく報告。7262 ( b ) ) 準備または作成した登録会計事務所によって 監査報告書を発行しました   ↓ ↓第 2 条に基づき有価証券を登録する場合 法 12 ( b ) , 出願に含まれる登録者の財務諸表が訂正を反映しているかどうかをチェックマークで示します。 以前に発行された財務諸表に誤りがあります

 

↓ ↓これらのエラーのいずれかをチェックマークで示します 訂正は、登録者の役員によって受け取られたインセンティブベースの報酬の回復分析を必要とする再記述です § 240.10 D—1 ( b ) に基づく関連する回復期間の役員。

 

↓ ↓会計基準をチェックマークで示す 登録者はこの書類に含まれる財務諸表を作成するために使用しました :

 

アメリカは会計原則を公認している

 

↓ ↓3,431,434

 

国際財務報告基準 発行された 国際会計基準委員会によって」と 他にも

 

↓ ↓「その他」がチェックされている場合 前の質問に対して、登録者が従うことを選択した財務諸表項目をチェックマークで示します。 ↓ ↓ 項目 17  ↓ ↓

 

項目 18年次報告書の場合はチェックで示します。 登録者がシェル会社であるかどうかをマークします ( 取引法規則 120億 2 で定義されています ) 。  ↓ ↓  はい 」と

 

いいえ目次ページ  序言:序言  PART I第1項。

 

役員·上級管理職·コンサルタントの身分

 

  第二項です。割引統計データと予想スケジュール 第三項です。重要な情報 第四項です。 会社についての情報  
      プロジェクト4 Aです。未解決従業員意見  

 

五番目です。経営と財務回顧と展望

 

第六項です。役員、上級管理者、従業員

 

第七項。大株主と関係者が取引する

 

第八項です。財務情報

 

第九項です。

 

  見積もりと看板第10項。 情報を付加する第十一項。
市場リスクに関する定量的 · 質的開示
第十二項。 株式証券を除くその他の証券説明パート II  

 

十三項。違約、延滞配当金、延滞配当金14項です。保証所有者の権利と収益使用の実質的な改正第十五項。

 

制御とプログラム

 

項目 15T制御とプログラムプロジェクト16保留されている

 

 

 

 

 

 

プロジェクト16 A。

 

監査委員会財務専門家   ii
プロジェクト16 B。   1
道徳的規則 プロジェクト16 Cです。   1
チーフ会計士費用とサービス プロジェクト16 Dです。   1
監査委員会の上場基準の免除 プロジェクト16 E。   1
発行者および関連購入者が株式証券を購入する プロジェクト16 Fです。   28
登録者の認証会計士を変更する プロジェクト16 Gです。   45
会社の管理 16 H項です。   45
炭鉱安全情報開示 プロジェクト16 I。   54
検査を妨害する外国司法管轄区域を開示する。 第三部   63
17項です。 財務諸表   65
第十八項。 財務諸表   65
プロジェクト19.   65
“ドル”または“ドル”または“$” アメリカ合衆国の通貨です   79
Wonとは 韓国の法定通貨です。 私たちの連結財務諸表が現れました 本年度報告書では、表20-Fはドルで作成され、国際財務報告に基づいている。 国際会計基準理事会またはIASBが発表した国際会計基準または国際財務報告基準。私たちの連結財務諸表が現れました この表格20-Fの年次報告では、国際財務報告基準とオーストラリア対応の国際財務報告基準またはA-国際財務報告基準が遵守されている。オーストラリアの要求に合致する 会計基準は財務諸表と付記が国際財務報告基準にも適合することを確実にする。   79
本年度報告書における表形式での陳述 任意の契約、合意、または他の文書の内容に関する20−Fは、そのような契約、合意または文書の要約である。 そのすべての用語の完全な説明ではない。これらの書類のいずれかを本年度報告書または任意のものとすると 私たちが以前に提出した年間報告書について、あなたはその条項の完全な記述を得るために、その文書自体を読むことができる。     80
含まれている履歴情報を除いて 本年度報告Form 20-Fでは,本年度報告に含まれるForm 20-F陳述はいずれも“前向き陳述”である これは未来の事件と財政的結果に対する私たちの現在の見解を反映する。以下の用語を使用した声明を考慮することを促します “期待”“信じる”“信じない”“期待”“計画”“予定” “推定”および同様の表現は、前向き陳述を識別することを目的としている。私たちは投資家に前向きな 陳述は予測のみであるため、既知および未知のリスクに関連する不確実性および他の要因の影響を固有に受ける。 これは実際の結果、業績、活動レベル、または私たちの業績や業界の結果が大きく異なることをもたらす可能性があります。 これらの展望的陳述から明示的または暗示的な任意の未来の結果、業績、活動レベル、または私たちの業績。 これらの前向き陳述に過度に依存しないように投資家に警告し、これらの陳述は、本プレスリリースの日までの状況のみを説明している。除 法律(米国証券法を含む)の適用要件に基づいて、私たちは公開公開を一切負担しません 新しい情報、未来のイベントまたは状況を反映するために、任意の前向きな陳述を更新または修正し、または 日付はここです。“項目3.重要な情報-D.リスク要因”に出現するリスク要因の部分を参照されたい PART I   80
ITEM 1 。取締役 · 上級管理職 · 顧問の身元 該当しない。   80
項目 2. 。オファーの統計と予想される時刻表 該当しない。   80
項目 3 。主な情報 A 。【予約】   81
B.資本化と負債 該当しない。   81
C.報酬を提案し使用する理由 該当しない。   81
D.リスク要因 以下のリスクは特に私たちの 業務は,慎重に考慮すべきである.私たちの業務、財務状況、経営結果は次のいずれかの損害を受ける可能性があります。 リスクに追随する。以下に説明するリスクと不確実性は私たちが直面している唯一の危険と不確実性ではない。他のリスクや不確実性は 私たちが現在知っていることや私たちが現在どうでもいいと思っているのは、私たちの業務に悪影響を及ぼすかもしれない。次のようなリスクがあれば 不確実性が実際の事件に発展し、私たちの業務、財務状況、経営結果は実質的な悪影響を及ぼす可能性があります。 影響を受けて、私たちの普通株の取引価格は下がるかもしれない。上記の要因により、われわれ普通株の取引価格は 株価は下落する可能性があり、保有者は投資の一部または全部を損失する可能性がある。   82
私たちが必要な資金を得る能力は 資本市場の弱さや過去数年間の重大な損失などの影響を受けている これは未来の資金調達の利用可能性や費用に影響を及ぼすかもしれない。資金調達活動から資金を集めることができれば 私たちの運営収入は資本需要を満たすのに十分ではありませんたとえ私たちの運営を減らしても 私たちは販売したり運営を停止することを要求されるかもしれない。 私たちの限られた運営の歴史と急速な発展は 業務は収入と支出を正確に予測することが難しく、潜在的な投資家も評価が難しいかもしれません。 私たちのビジネスです。   82
私たちは限られた運営履歴だけが参考になります 私たちの業務と見通しを評価するのは、特に私たちの業務が最近設立されたからだ。私たちの経営業績は 変動は多くの要素によって引き起こされ、その中の多くの要素は私たちがコントロールできるものではない。このような理由で私たちの運営結果を比較します 異なる時期の基礎の上では意味がないかもしれませんが、あなたは私たちの過去の業績を私たちの未来の業績の指標としてはいけません。 私たちの見通しは会社が初期段階で遭遇した固有のリスク、費用、困難を考慮しなければなりません。 発展の問題について。 私たちの他のリスクや不確実性は ビジネスは私たちの以下の能力に関連しています   83
革新的な製品と 顧客基盤を引き付けて保持するために、私たちの業務範囲内でサービスを提供します 客を引き付ける   83
わがブランドの知名度を高める 消費者と顧客の忠誠度を育成し続けています 競争の激しい市場に対応する 条件;   83
私たちの規制の変化に反応します 環境; 以下の項目に関連するリスクの管理 知的財産権   83
効果的な制御を維持する 私たちのコストと支出 十分な資本を集めて 私たちのビジネスを支援し広げています   83
引き付け、引き留め、激励する 合資格者 私たちの技術をアップグレードして トラフィックが増加し、サービス範囲が拡大する。   83
これらの問題のいずれかを解決できなければ リスクと不確実性が存在するため、私たちの業務は重大な悪影響を受ける可能性がある。     84
私たちの業務の発展は 最近完了したり、将来発生した買収や他の取引を完了したりする際に。 もし成功できなければ、私たちのビジネスは成功しないかもしれません。 ナノコーティング·フラットパネルフィルタ事業や新エネルギー事業など、私たちが買収した事業を経営·統合します。だからそれは 私たちの歴史的財務業績に基づいて私たちの業務を評価することは難しい。私たちは引き続き新しい業務を探したいです 買収して我々の業務を発展させ,強化する.もし私たちがこのような業務を決定できなかったり、合理的な方法でこのような業務を買収できなかったら 条項、またはこのような業務の統合に成功できなかった場合、私たちの経営業績と見通しが損なわれる可能性があります。   84
これらの業務を統合することはできないかもしれません 私たちは将来買収される事業を買収または予想しています 時々私たちは企業を買収するかもしれません 私たちは私たちの業務に戦略的に適合した会社の資産や証券を提供すると思います。私たちが買収する事業は 私たちの既存の業務;私たちの財務報告の流れに対する全面的な内部統制;そして私たちの財務、運営、そして情報 システムです。もし私たちの業務の財務業績に加え、買収された資産や業務が、私たちの期待に達していなければ、 これにより、合併後の業務から積極的な結果を得ることが困難になり、市場予想を達成できない可能性がある。 買収された会社の業務や製品を効果的に私たちの業務に組み込むことができないかもしれません。 コストや時間の範囲、重要な顧客とサプライヤーを維持し、あるいは買収された企業の重要な従業員、または私たちの業務を成功的に実施する 合併後の業務のための計画を立てる。さらに、買収された資産の推定公正価値の最終決定と評価 私たちが買収で負担している債務は以前の見積もりとは大きく異なるかもしれませんが、完全に予想されるコスト節約を実現できないかもしれません。 機会や他の潜在的な相乗効果を増加させる。買収した企業や投資の公正な価値を保証することはできません そのままにしてください。   84
私たちは激しい競争に直面して、影響を受けるかもしれません それによって顧客を失うことを避ける。 私たちが予想しているのは ナノコーティング平板フィルタ、切替可能ガラス、ハラール製品、新エネルギー製品およびデジタル資産市場業務、特に 似たような製品やサービスを提供することを求める他の会社から来た。これらの競争相手の多くは明らかに多くの資金を持っています 資源と人員は私たちが持っているものよりもっと多い。彼らはもっと長い運営歴史を持っていて、誘致、保留の方面でもっと多くの経験があるかもしれません 顧客を管理しています彼らは彼らの経験と資源を利用して、より多くの競争を通じて、様々な方法で私たちと競争するかもしれません。 ユーザー、顧客、流通業者、メディアチャンネルに対して、研究開発への投入と買収を行う。 もし私たちが効果的に競争できなければ、私たちの業務、財務状況、経営業績は不利な影響を受けるだろう。   85
為替レートの変動は続きます 私たちが報告した運営結果に影響を及ぼす。   86

 

i

 

私たちのグループは実体ごとにビットコインを測定しました この実体が存在する主要な経済環境の通貨を使用する。マレーシアでの業務には機能通貨があります 私たちはドルを使っていますほとんどの収入が実現しているので運営コストの大部分は ドルとユーロで価格を計算します通貨レートの変動はリンギット、ユーロ建ての現金にも影響を与えるだろう。 オーストラリアドルと、したがって、私たちの報告書の運営業績に影響を及ぼすだろう。

 

増加通貨為替レート変化 ドルの相対価値は価格で外国メーカーと競争することを難しくして、私たちのを下げるかもしれません。 ドル建ての外貨売上は、そうでなければ、私たちの販売と経営に重大な悪影響を及ぼす可能性があります。 結果が出る。私たちの外貨建ての売上高の著しい増加は外貨変動に関するリスクを増加させます。 様々なアジア通貨に対するドルの疲弊、特にマレーシアのリンギットは、私たちの製品コストを増加させるかもしれない。 通貨レートの変動はすでに私たちの経営業績に悪影響を与え続ける可能性がある。

 

われわれの以下の方面での製造経験は限られている 私たちの製作候補者です。十分な数の製品の生産を遅延させることは私たちの業務と運営に悪影響を及ぼすかもしれない。我々の製造経験は限られている.私たちは ナノコーティング平板フィルタの製造は、2025年にガラスを切り替えることができる積層ラインが商業運営に投入される予定で、テーマ 必要な資金を集めて業務を展開し、適切な経験と専門知識を持つ必要な従業員を雇用する。もしそうしなければ 十分な資源を集めて、専門知識、人員構成、技術力を募集して、成功的に運営することができないかもしれません。 利益のある製造業務。私たちは追加の製造資源を開発して、他社と協力する必要があるかもしれません 第三者または第三者が契約に基づいて私たちの製品を製造します。受け入れ可能な条件では融資を受けることができないかもしれません 生産を拡大し商業製造プロセスを開発するために必要なもの。協力型や契約型には入れないかもしれません 第三者と受け入れ可能な条件で配置して、品質、数量、および即時性に対する私たちの要求を満たす。このような遅延は 障害物は私たちの業務、財政状況、そして運営結果を損なうかもしれない。

 

私たちが請負業者に大きく依存している程度では 私たちは私たちの請負業者の業務条件と関連した危険に直面するだろう。私たちは様々な請負業者に依存しています 私たちのエアフィルターと空気清浄機製品です。私たち1人以上の請負業者に影響を及ぼす不利な事件は私たちに悪影響を及ぼすかもしれない。例えば:

 

請負業者は保留できません 私たちの生産注文を処理してきた重要な従業員

 

請負業者は標準に合わない製品を生産する 私たちが受け入れられない製品

 

請負業者は維持する能力がない 財務や他の業務の問題による運営

 

下請けはその商売を失った 私たちの製品を製造するために必要かもしれないライセンスまたはライセンス;または

 

誤り、不注意、または不当な行為 請負業者内部で発生した状況は、私たちが直接責任を持っていないかもしれないにもかかわらず、私たちの業務に悪影響を及ぼす可能性がある。

 

ある程度私たちは協力に入ることができます もし協力や戦略連合にリスクがあれば、私たちはこれらの協力と連合に関連するリスクに直面するだろう。私たちの発展戦略の重要な要素は 我々のナノコーティング平板フィルタとハラール製品の製造と商業化はパートナー関係と戦略同盟に入っている 他の流通会社や他の業界参加者と協力して、私たちの流通能力を高め、私たちのを維持できるようにします。 財務と運営能力。もし本当にあれば、私たちは受け入れ可能な条件で連合を交渉することができないかもしれない。今のところそうではありませんが 私たちは私たちの業務に重要な任意の協力計画や戦略連合のすべての当事者だと思う。未来には私たちは 協力計画や戦略同盟について、いくつかのナノコーティング平板の開発と商業化を完成させる フィルターとハラール製品です。このような協力を交渉する時に私たちが不利になると信じている具体的な理由はないにもかかわらず 計画や戦略連合、私たちの交渉地位は関連する時間における私たちの財政能力の影響を受けて継続されるだろう。 製品の開発と商業化、およびこのような交渉の時間と開発段階について 関連候補製品の名称。これらの計画は私たちが直接販売している収入よりも少ない収入になるかもしれません 私たちの製品の開発、販売、マーケティングを私たちのコントロールの外に置くかもしれません。重要な権利を放棄することが要求されるかもしれません。 そうでなければ、私たちに不利な条件であるかもしれない。協力計画や戦略同盟は私たちをいくつかのリスクに直面させます 以下のリスクがある:

 

市場の需要が保証されない NFTSを開発および/または維持することは、我々の業務運営に重大な悪影響を及ぼす可能性がある。デジタル資産市場はありません 制限、すなわちNFTsは、まだ萌芽段階にある。したがって、非自由貿易品の市場は発展しない可能性があり、市場が確実に発展すれば、この価値は維持されるだろう。 将来NFTのために市場を開発しなければ、私たちは私たちの市場を開発し、維持することが難しいかもしれません。 ユーザは彼らのNFTを取引、購入、販売することができる。

 

ブロックチェーン技術の背後にある技術は 消費者のブロックチェーン技術に対する受け入れにおいて、いくつかの全業界の挑戦とリスクに直面している。減速したり ブロックチェーンネットワークとブロックチェーン資産の開発を停止または受け入れることは成功に 私たちのNFT市場プラットフォームを開発します。ブロックチェーン業界の成長は 消費者の受け入れと長期的な発展には高い不確実性がある。…の更なる発展に影響する要素 ブロックチェーンおよびNFT産業は含まれるが、これらに限定されない

 

世界的に成長を実現しています NFTおよび他のブロックチェーン技術を使用すること

 

政府と準政府 NFTおよびその使用の規制、またはブロックチェーンネットワークまたは同様のシステムへのアクセスおよび運営の制限または規制;

 

維持と開発 ブロックチェーンネットワークのオープンソースソフトウェアプロトコル;

 

消費者人口構造の変化 大衆の好みや好みを

 

可用性と人気度 政府によってサポートされる新しい手段を使用することを含む、商品およびサービスまたは取引資産を売買する他の形態または方法 通貨や既存のネットワーク

 

電流の大きさ NFTへの興味は投機的な“バブル”を代表する

 

一般経済状況 アメリカや世界では

 

環境を規制する NFTとブロックチェーンとの関係;および

 

かなりの費用がかかる クレームを正当化する金額

 

多額の費用を払う必要がある 他の特許所有者に使用料を支払うか、または私たちの特許交差許可を付与する

 

レシピを再設計する必要があります 製品が侵害されないことは不可能かもしれないし、大量の資金や時間が必要かもしれない;または

 

 

多額の費用を払う必要がある 金銭的損失。

 

ii

 

以下のようなことが発生すれば、私たちの製品の将来の販売は影響を受ける可能性があります それらは市場で消費者と顧客に受け入れられない。

 

私たちの製品(ハラール製品、 ナノコーティング平板フィルタと空気清浄機製品、新エネルギー製品、切替可能ガラス)は消費者の市場受け入れを得られない可能性がある お客さんと。私たちのどの製品に対する市場の受け入れ度は様々な要素に依存します

 

 

市場を打ち出すタイミングと

 

 

既存製品や新製品と比較した価格と製品機能。

 

製品責任のクレームに直面するかもしれません。 これは私たちの業務を損なうかもしれない。

 

消費財と電子製品のマーケティングと販売 製品自体に製品責任のリスクがある。私たちは私たちの製品に関する製品責任の開放に直面しています。是非の区別なく 最終的な結果責任クレームは

 

 

私たちの製品への需要が減少しました

 

 

私たちの名声を損なう

 

 

1

 

当社の普通株式の市場価格にプラスのまたはマイナスの価格圧力を及ぼす可能性のある販売または販売不足の少数の人の手に限られた「公開浮動」;

 

 

当社の普通株式の売却;

 

 

ビジネスプランを実行する能力は

 

経営業績が予想を下回った

 

戦略的関係の喪失;

 

規制面での発展

 

私たちの競争相手との研究開発、製造、マーケティング連合、あるいは協力の発展

 

私たちは競争相手と技術革新や新しいビジネス製品を発表しました

 

当社の製品または競合他社の製品に関する規制措置;

 

当社の特許出願および他者の特許出願に関する決定

 

以下の表は、連結連結をまとめました。 各期間の営業利益に占める金額別および割合の営業決算書

 

12月31日までの年度

 

金額

 

純額のパーセント

 

収益

 

2

 

金額

 

純額のパーセント

 

収益

 

金額

 

純額のパーセント

 

収益

 

収入:

 

製品

 

コストと費用

 

販売コスト

 

従業員福祉支出

 

財政コスト

 

3

 

減価償却および償却費用

 

専門費 · コンサルティング費

 

旅費 · 宿泊費

 

収入.収入

 

金額

 

純額のパーセント

 

収入.収入

 

-製品

 

-ハラール製品

 

-売上高

 

-営収. 2023年12月31日終了年度の経営活動収入は373,676ドルであったが,前年は364,405ドルと増加した 9,271ドルで、前年より2.54%増加した。この年度の主な収入源はハラール製品の販売です。それと比較した売上高の伸び 前年の成長は主に業務運営の安定に起因していた。2024年にはもっと重視していきます ハラール製品の販売;しかし、私たちはまたデジタル資産市場から費用を受け取る予定だ。

 

-販売コスト

 

-次の表. 売上コストを収入源、金額、および示された年間純収入に占める割合で示した

 

-十二月三十一日までの年度

 

-金額

 

-純額のパーセント

 

-収入.収入

 

金額

 

4

 

純額のパーセント

 

収入.収入

 

製品.

 

販売コストは45.0%低下し、 2023年は261,566ドルですが、2022年は475,546ドルです。これは主に私たちの製品が2023年にヨーロッパではなくマレーシアで販売されているからです。 2022年、ウクライナ紛争と私たちの浸透による予期せぬ市場動態により、商品コストはもっと高いです。 欧州戦略は、2022年の販売コストが売上高よりも高いことを招いた。

 

毛利と利回りです。 

 

新しい規格と規格の改正は 2024 年 1 月 1 日以降の年次に適用され、それ以前の申請が認められますが、グループは早期に採用していません。 連結財務諸表の作成にあたります。

 

新規または改訂された標準今後の要件

 

規格のタイトル

 

年間有効

 

開始日または終了後

 

売却 · リースバックにおけるリース責任

 

5

 

IFRS 16 リースの改正

 

2024 年 1 月 1 日

 

負債の経常 · 非経常の分類IAS 1 財務諸表の提示の改正

 

2024 年 1 月 1 日仕入先の財務手配

 

国際会計基準第7号及び国際財務報告準則第7号の修正2025 年 1 月 1 日

 

互換性を欠く“国際会計基準”第21条改正案

 

2025 年 1 月 1 日投資家とその関連会社または合弁会社との間の資産の売却または出資

 

IFRS 10 連結財務諸表および IAS 28 関連会社および合弁事業への投資の改正

 

オプションの採択 / 施行日無期限延期

 

当社は研究開発を行っていない。 2023 年と 2022 年の研究開発費用は発生しません。当社は製剤に関する研究を行ってきました。 2021 年の金融リサーチ事業の信用モデルの概要金融調査事業は 2022 年に処分された。 関連会社への投資として計上しました

 

D.トレンド情報事業展開を続けている。 そして、当社は将来の事業の結果をどの程度の精度でも予測することはできません。業務は主に 事業と技術のさらなる開発と商業化に依存しています

 

E 。【予約】 F 。【予約】

 

第 6 話。取締役 · 上級管理職 · 従業員役員と上級管理職

 

以下の表は、取締役と 上級管理職とフォーム 20—F のこの年次報告書の日付時点で保有していた職務。名前.名前

 

ポジションハズラン · モハメド氏

 

6

 

独立非執行役員

 

ムハンマド · ズバイリー · ビン · フセイン氏

 

独立非執行役員

  

Ms. Jannu Binti Babjan

 

独立非執行役員

 

ジョン · キ · パク氏

 

共同最高経営責任者

 

ダト · メガ · ラズマン · ビン · メガット · カイルディン

 

オプション

 

7

 

ハズラン · モハメド氏

 

適用されない

 

適用されない

 

適用されない

 

適用されない

 

適用されない

 

ムハンマド · ズバイリー · ビン · フセイン氏

 

適用されない

 

適用されない

 

8

 

適用されない

 

適用されない

  

適用されない

 

Dr. Zhi—Cheng Xiao

 

適用されない

 

適用されない

 

適用されない

 

適用されない

 

適用されない

 

Ms. Jannu Binti Babjan

 

適用されない

 

適用されない

 

9

 

適用されない

 

適用されない

 

適用されない適用されない

 

適用されないメガット · ラズマン · ビン · メガット · カイルディン博士

 

適用されない適用されない

 

適用されない適用されない

 

適用されないジョン · キ · パク氏

 

適用されない適用されない

 

適用されない適用されない

 

適用されないモハド · ハズロール · ビン · モハド · ロスミー

 

適用されない適用されない

 

適用されない

 

適用されない

 

適用されない

 

張小東氏

 

適用されない

 

適用されない

 

10

 

適用されない

 

適用されない

 

適用されない

 

Jing Zhuo さん

 

適用されない

 

適用されない

 

適用されない

 

適用されない

 

11

 

適用されない

 

楊忠清氏

 

適用されない

 

適用されない

 

適用されない

 

適用されない

 

適用されない

 

ダン · リー

 

適用されない

 

適用されない

 

12

 

適用されない

 

適用されない

 

適用されない

 

Hui Zhong さん

 

適用されない

 

適用されない

 

適用されない

 

適用されない

 

適用されない

 

総額

 

適用されない

 

適用されない

 

適用されない

 

13

 

適用されない

 

ホールディングス

  

オーナーシップ

 

ハズラン · モハメド氏

 

ムハンマド · ズベイリー · ビン · フセイン氏

 

Ms. Jannu Binti Babjan,

 

メガット · ラズマン · ビン · メガット · カイルディン博士

 

ジョン · キー · パーク

 

モハド · ハズロール · ビン · モハド · ロスミー

 

取締役 · 役員全員 ( 6 名 )

 

14

 

ネクストグラステクノロジーズ株式会社

 

Nextglass Solutions Inc.

 

オーホコリア株式会社Ltd

 

ココ · リミテッド

 

コン · ウネルコフ

 

Montague Capital Pty Ltd

 

1%以下

 

メモ:

 

2023 年 7 月 4 日に取締役に就任。

 

2024 年 5 月 23 日に取締役に任命。

 

2023 年 5 月 5 日に同社の共同最高経営責任者に任命。

 

15

 

 

16H 。鉱山の安全性開示

 

該当しない。

 

16 I 号。防止する外国法域に関する開示 検査内容

 

該当しない。

 

第三部

 

16

 

プロジェクト17.財務諸表

 

財務諸表および関連情報の提供を選択しました。 第 18 項に記載。

 

プロジェクト18.財務諸表

 

インテグレーテッドメディアテクノロジー株式会社

 

連結財務諸表索引

 

カタログ

 

ページ

 

独立公認会計士事務所レポート(PCAOB ID:

 

2021 年 12 月 31 日期、 2022 年および 2023 年期連結損益計算書

 

17

 

連結財務諸表 2022 年 12 月 31 日および 2023 年 12 月 31 日現在

 

2021 年 12 月 31 日、 2022 年および 2023 年 12 月 31 日期における株主資本の変動に関する連結計算書

 

2021 年 12 月 31 日、 2022 年および 2023 年の連結キャッシュ · フロー計算書

 

連結財務諸表付記F—7 から F—62

 

独立公認会計士の報告書 FIRM十二月三十一日までの年度

 

注記 US $

 

US $ US $

 

収入,純額販売コスト

 

利 子 収入

 

その他の収入

 

  デリバティブ金融商品の公正価値変動による利益 ( 損失 ) その他総合利益による金融資産の公正価値処分による損失

 

  費用 融資コスト

 

従業員福祉支出

 

減価償却および償却費用

 

  専門 · コンサルティング費用 旅行 · 宿泊費

 

  その他の費用 その他の収益

 

  関連会社の損失分担 ワラントの公正価値変動による利益 ( 損失 )

 

  総費用 所得税前損失

 

  所得税費用 本年度の赤字

 

  以下に起因する損失および当年の総合損失総額 : インテグレーテッド · メディア · テクノロジー株式会社

 

非制御的権益

 

18

 

1株当たり損失

 

ドル

 

ドル

 

ドル

 

- 基本および希釈.

 

上記連結利益計算書または 損失と包括損失は付属の注釈と併せて読む必要があります

 

インテグレーテッド · メディア · テクノロジー株式会社

 

合併財務状況表

 

  (in米ドル ) 十二月三十一日

 

  注記 ドル

 

  ドル 資産

 

  流動資産 現金 · 現金同等物

 

売掛金

 

19

 

その他売掛金

 

在庫情報

  

融資を受けるべきだ

 

その他流動資産

 

アソシエイトからの支払金額

 

旧グループ会社からの支払金額

 

流動資産総額

  

非流動資産

 

プラント · 設備、ネット

 

その他の資産 — 設備預金

 

20

 

無形資産

 

関連会社への投資

 

  非流動資産総額 総資産

 

  負債.負債 流動負債

 

  貿易 · その他の負債 転換可能なチケット

 

  デリバティブ金融商品 株式証負債

 

流動負債総額

  

非流動負債

 

転換可能なチケット

 

株式証負債

  

非流動負債総額

 

21

 

総負債

 

NEt CURRENt 資産

 

純資産

 

資本 · 準備金

 

発行資本 (

 

違います。

 

パー値 そして

 

* 2023 年 12 月 31 日現在発行済普通株式および 2022 年 12 月 31 日現在発行済普通株式 )その他の備蓄

 

ドル

 

22

 

ドル

 

ドル

 

ドル

 

2020 年 12 月 31 日現在および 2021 年 1 月 1 日現在残高

 

2021 年の資本変更 :

 

本年度の赤字

 

23

 

その他総合所得による公正価値

 

本年度の総合損失総額

 

  累積損失へのその他の準備金の振り替え 子会社を買収する

 

  付属会社の処置 サービス用株式の発行 ( 注 25 ( b ) )

 

  現金新普通株式の発行 ( 注釈 25 ( b ) ) 2021 年 12 月 31 日および 2022 年 1 月 1 日時点の残高

 

  2022 年の資本変更 : 本年度の赤字

 

  その他総合所得による公正価値 本年度の総合損失総額

 

  金融資産の売却に伴うその他の準備金の解放 十二月三十一日までの年度

 

  注記 ドル

 

  ドル ドル

 

  経営活動のキャッシュフロー 所得税前損失

 

  営業活動に使用された純現金に対する所得税引前損失の調整 : 減価償却 · 償却

 

  デリバティブ金融商品の公正価値変動 株式許可証は価値変動を公正に許可する

 

  アソシエイトの損失分担 運転資本の変動による純現金流入 / 流出

 

  在庫の提供 貿易債権引当金

 

  設備預金規定 その他債権引当金

 

  債権引当金 その他の流動資産引当金

 

  アソシエイトからの支払いの引当金 これらの総合財務報告の目的のために 宣言すると、関連側は、以下のように定義された個人およびエンティティを含む

 

  任意の人またはその家族の近親者は、以下の場合、当集団と親族関係がある このグループに対して支配権または共同支配権を持っている

 

  本グループに重大な影響を与える 本グループの主な管理者や当グループの親会社のメンバーです。

 

  以下のいずれかの条件が適用される場合、事業体はグループに関連しています。 このエンティティと本グループは同一グループのメンバである(これは,各親会社,子会社,同系子会社が相互に関連していることを意味する).

 

  1つのエンティティは、別のエンティティの共同経営または合弁企業である(または別のエンティティは、そのメンバーのグループメンバーの共同または合弁企業である)。 この二つの実体はいずれも同じ第三者の合弁企業だ。

 

  1つのエンティティは第3のエンティティの合弁企業であり、もう1つのエンティティは第3のエンティティの関連企業である。 当該エンティティは、本グループ又は本グループに関連するエンティティの従業員の利益のために設立された退職後福祉計画である。

 

  このエンティティは、(1)第1項に掲げる者によって制御または共同制御される。 (I)(I)項で決定された人は、そのエンティティに重大な影響を与えるか、またはそのエンティティ(またはエンティティの親会社)の鍵管理者のメンバーである。

 

  エンティティまたはその所属グループの任意のメンバは、報告エンティティまたは報告エンティティの親エンティティにキー管理者サービスを提供する。 付記3.重大会計政策(続)

 

  (Aa)公正価値 公正な価値は金融資産と 責任の測定と様々な開示。

 

  公正価値は受け取る価格です 計量日に市場参加者間の秩序ある取引において資産を売却するか、または移転負債を支払う行為。そうなんです。 取引に基づいて資産または負債の主要市場で発生する、または存在しない場合 主力市場は、最も有利な市場にある。最も有利な市場の元本は,本グループが到達しなければならないか,あるいは本グループが獲得することができる. 公正価値は以下の仮定を用いて計測される 市場参加者の行動がその最適な経済的利益に適合すると仮定すると、市場参加者は資産または負債の価格設定の際に使用される。

 

非財務会計基準の公正価値計量 資産は市場参加者が最高かつ最高の方法で資産を使用することで経済的利益を生成する能力を考慮している 資産は、使用またはそれを別の市場参加者に販売することによって、最高かつ最高の方法で使用される。

 

十二月三十一日

 

24

 

US $

 

十二月三十一日

 

US $

 

ハラール商品の販売

 

3D オートステレオ製品 · 変換機器の開発 · 販売 · 販売

 

エアフィルター製品の販売

 

総収入

 

25

 

事業セグメントは、 執行役員による審査の基準ですエグゼクティブディレクターは、最高経営責任者と考えられています。 グループです。エグゼクティブ · ディレクターは、グループがこれに基づいて資源を評価し配分したと考えています。エグゼクティブディレクター グループが  

 

7人

 

2023 年 12 月 31 日期営業セグメント ( 2021 年 :

 

6人

 

2022 年 :

 

7人

 

) 、 ( 1 ) 、 電子ガラスの販売、 ( 2 ) エアフィルター製品の販売、 ( 3 ) ハラール製品の販売、 ( 4 ) NFt 、 ( 5 ) 企業向け、 ( 6 ) コンサルティング業務 ( 7 ) 新エネルギー製品とソリューションの提供。

 

収入の分類

 

26

 

商品 · サービスの移転の時期

 

ある時点で

 

時間内に

 

US $

 

以下の表は、顧客の所在地に基づく地域別市場によるグループの売上高の分析を示しています。

 

統合された

 

十二月三十一日 

 

US $

 

十二月三十一日

 

US $

 

十二月三十一日

 

27

 

US $

 

マレーシア

 

香港.香港中国アメリカです

 

地理的非流動資産

 

統合された

 

十二月三十一日

 

US $

 

十二月三十一日

 

28

 

US $

 

十二月三十一日

 

US $

 

アメリカです

 

韓国

 

マレーシア

 

カナダ

 

オーストラリア

 

香港.香港

 

中国

 

主な取引先

 

29

 

2023 年 12 月 31 日期については、 ハス

 

三つ

 

個人顧客 ( 2022 年と 2021 年 ) :

 

二つ

 

そして

 

二つ

 

収益は以下のものより多い。

 

30

 

グループ収益の割合 各顧客からの債権は以下のとおりです。

 

2023年12月31日

 

2022年12月31日

 

2021年12月31日

 

パーセント

 

オフ

 

収益

 

31

 

てんびん

 

デュー

 

US $

 

パーセント

 

オフ

 

収益

 

てんびん

 

デュー

 

32

 

US $

 

パーセント

 

オフ

 

収益

 

支払残高

 

ドル

 

顧客A

 

顧客B

 

顧客C

 

顧客D

 

注 4 。収益とセグメント情報 ( 続き )

 

統合された

 

31 年度終了

 

2022 年 12 月

 

セールス

 

エレクトロニック

 

* グラス

 

33

 

US $

 

セールス

 

空気フィルター

 

製品情報

 

   US $ 
   セールス
2023
$
   ハラール
2022
$
   製品情報
2021
$
 
US $   373,676    364,405    - 
Provision of    4    392,622    14,096 
信用リスク   -    -    2,974 
分析    -    -    141,337 
    373,680    757,027    158,407 

 

US $

 

   Provision of 
   コンサルティング
2023
$
   US $
2022
$
  

NFt
2021

$

 
US $   373,676    364,405    58,380 
会社   -    -    2,974 
US $   -    -    5,116 
合計する   -    -    77,841 
    373,676    364,405    144,311 

 

US $

 

34

 

収益

 

営業活動収入

 

利 子 収入

 

株式商品投資の処分利益

 

投資の公正価値変動による損失

 

その他の収入

 

35

 

市場収入を細分化する

 

販売コスト

 

従業員福祉支出

 

減価償却および償却費用

 

専門 · コンサルティング費用

 

旅費 · 宿泊費

 

36

 

その他の運営費

 

融資コスト

 

関連会社の損失分担2付属会社の収益を売却する

 

子会社の処分推定損失

 

在庫の提供

 

不良債権準備

 

財産 · 設備の償却

 

ワラントの公正価値変更による損失

 

為替利益 / ( 損失 )

 

  セグメント経費 セグメント営業 ( 損失 ) / 利益

 

  セグメント資産 2022 セグメント負債 2022

 

  注 4 。収益とセグメント情報 ( 続き ) 統合された

 

37

 

2021 年 12 月 31 日末期

 

開発 ,

 

販売と

 

ドル

 

NFT

 

ドル

 

会社

 

ドル

 

総額

 

ドル

 

収益

 

営業活動収入

 

利 子 収入

 

デリバティブ金融商品の公正価値変動

 

38

 

その他の収入

 

  市場収入を細分化する 販売コスト

 

  従業員福祉支出 減価償却および償却費用

 

  専門 · コンサルティング費用 旅費 · 宿泊費

 

  その他の運営費 在庫陳腐化手当の逆転

 

  不良債権準備 子会社の処分による利益 ( 損失 )

 

  融資コスト セグメント経費

 

セグメント営業利益 ( 損益 )

 

セグメント資産 2021

 

セグメント負債 2021

 

注釈 5 。その他の収入

 

統合された

 

十二月三十一日

 

US $

 

十二月三十一日

 

39

 

US $

 

十二月三十一日

 

US $

 

負債の免除

 

投資からの引受手数料

 

雑費収入

 

注釈 6 。財務コスト

 

統合された

 

十二月三十一日

 

US $

 

十二月三十一日

 

US $

 

十二月三十一日

 

US $

 

40

 

銀行当座越し · 借入利子

 

回転ローン利子

 

営業リース債務の利子

 

転換手形利子 ( 注 20 )

 

注釈 7 。所得税引前損失

 

統合された

 

十二月三十一日

 

US $

 

十二月三十一日

 

US $

 

十二月三十一日

 

US $

 

従業員給付費 :

 

- 賃金 · 給与

 

- スタッフ福祉

 

- 確定拠出金スーパーアニュエーションプランの費用

 

- 執行役員報酬

 

- 非執行役員報酬

 

給付総額

 

41

 

非流動資産の減価償却 · 償却 :

 

- 機械類

 

- オフィス家具 · 機器

 

- 賃貸住宅改善

 

- 無形資産

 

- 資産の利用権

 

減価償却および償却総額

 

その他の経費 :

 

不良債権の引当金 / ( 回収 )

 

オペレーティングリースのレンタル費用

 

42

 

在庫の提供

 

設備預金提供

 

その他の債権引当金

 

債権引当金

 

その他の流動資産引当金

 

統合された

 

2023年12月31日

 

US $

 

2022年12月31日

 

US $2021年12月31日

 

US $所得税費用

 

繰延税金支出

 

43

 

所得税費用

 

所得税前の損失に対する一見の税金は 所得税費用は以下の通りです。

 

統合された   十二月三十一日   US $   十二月三十一日
US $   十二月三十一日   US $   所得税費用と一見の納税額の数値調整
所得税前損失   i ) 一時的な差異   ii ) 税金損失   税金損失は現行の税法では失効しません。 繰延税金資産は、将来の課税利益が増加する可能性が低いため、これらの損失について認識されていません。 グループが繰延税金資産の恩恵を利用できる利用可能なものです。
(d)連結決算書には所得税が納められていなかった。 2023 年と 2022 年の財務状況について。   注記 9 。配当   違います。   配当は宣言され、支払われました。 2023 年 12 月 31 日期 ( 2022 年 )
ありません   注釈 10 。1 株あたりの損失   統合された   十二月三十一日
十二月三十一日   十二月三十一日   株主に帰属する所得税引後損失   ドル
ドル   ドル   普通株数   発行普通株式の加重平均数
1株当たりの基本損失と赤字   ) 報告の終わりに期限が過ぎたもの グループが減損損失額を計上した期間   (2022: US $   貿易債権の帳簿価額を考慮する 残高の短期的性質に対する公正価値の合理的な近似です
報告時の信用リスクの最大エクスポージャー 日付は連結財務諸表における債権の各クラスの公正価値です詳細は注釈 28 ( e ) を参照。 信用リスクマネジメントです   注釈 11 。貿易受取物その他 債権その他の流動資産 ( 続き )   (b)その他の債権   統合された
十二月三十一日   US $   十二月三十一日   US $
その他売掛金   規定   その他の債権は、主にハラール購入の前払いです。 製品と内層フィルム。   (c)その他の流動資産

 

*統合された

 

十二月三十一日

 

US $

 

十二月三十一日

 

44

 

US $

 

商取引預金

 

その他の預金

 

繰り上げ返済する

 

A. 付加価値税売掛金

 

その他の流動資産引当金

 

その他の預金は主にエアフィルター設計の購入に関連しています。 そして製品。

 

注釈 12 。インベントリー

 

在庫は以下のとおりです。

  

45

 

統合された

  

十二月三十一日

 

US $

 

十二月三十一日

 

US $

   

完成品 — ハラール製品

 

完成品 — ディスプレイおよびその他の製品

 

在庫の提供

 

注釈 13 。貸し出し可能

 

統合された

 

十二月三十一日

 

46

 

US $

 

流動資産

 

   非流動資産 
   2023   2022   2021 
   経常負債
$
   純資産
純資産のグループシェア
  

12 月 31 日期末

$

   収入,純額
税引後の損失
  

注釈 29 ( b ) に開示されている場合を除き、非貿易は アソシエイトからの支払額は無担保です。

$

   % の利子ベアリングと需要に応じて返済。
注釈 15 。旧グループ会社からの支払金額
 
統合された                        
十二月三十一日   373,676    100.0    364,405    100.0    144,311    100.0 
US $                              
十二月三十一日   261,566    70.0    475,546    130.5    111,680    77.4 
US $   517,547    138.5    1,011,992    277.7    1,206,065    835.7 
旧グループ会社からの債務額 — ネット   418,622    112.0    633,884    174.0    1,495,288    1,036.2 
旧グループ会社からの債務引当金   919,465    246.1    1,373,141    376.8    991,512    687.1 
2022 年 12 月 31 日現在、前グループからの非貿易債務額は 企業は約 US $の金額を含みます   1,242,743    332.6    4,311,514    1,183.2    1,775,586    1,230.4 
当社が発行した無利子可換社債に係る 100 万ドル 無担保で転換社債の満期日に支払われる金額については、注釈 20 ( a ) に記載しています。2023 年には、これらの非貿易金額 US ドル換算による決済   5,932    1.6    110,526    30.3    68,291    47.3 
トゥ    19,280,901    5,159.8    1,492,470    409.6    480,013    332.6 
会社の株式と約 US ドル残高   (14,885)   (4.0)   (98,144)   (26.9)   (1,256,730)   (870.8)
百万は eGlass Technologies Limited の株式転換による決済。   (2,396,291)   (641.3)   2,408,271    660.9    -    - 
その他旧グループ会社に対する債務金額 興味がなく、    175,507    47.0    223,354    61.3    -    - 
年間% と需要に応じて返済可能。年内、旧グループ会社の請求利子は US ドルへ   20,411,107    5,462.2    11,942,554    3,277.3    4,871,705    3,375.8 
(2022: US $   (20,037,431)   (5,362.2)   (11,578,149)   (3,177.3)   (4,727,394)   (3,275.8)
注記 16 。プラントと設備                              
統合された   4    0.0    392,622    107.7    14,096    9.8 
賃借権   1,677,178    448.8    484,361    132.9    (629,564)   (436.3)
改善   -    -    (202,363)   (55.5)   -    - 
ドル   10,137    2.7    1,990    0.5    250,944    173.9 
備品と   (18,350,112)   (4,605.3)   (10,901,539)   (2,991.6)   (5,091,918)   (3,528.4)
設備   -    -    -    -    -    - 
ドル   (18,350,112)   (4,605.3)   (10,901,539)   (2,991.6)   (5,091,918)   (3,528.4)

 

47

 

機械設備

 

US $

 

総額

 

   US $ 
   2023   2022 
   2021年12月31日まで
$
   費用
減価償却累計
   2021 年 12 月 31 日現在の残高
$
   2022年12月31日までの年度
開設運搬金額
 
追加                
処分   373,676    100.0    364,405    100.0 

 

核販売. 減価償却費用

 

2022 年 12 月 31 日現在の決算残高.2022年12月31日まで

 

   費用 
   2023   2022 
   減価償却累計
$
   2022 年 12 月 31 日末の残高
2023年12月31日までの年度
   開設運搬量
$
   追加
減価償却費用
 
2023 年 12 月 31 日現在の決算残高   261,566    70.0    475,546    130.5 

 

2023年12月31日まで

 

費用減価償却累計

 

2023 年 12 月 31 日現在の残高 

  

注釈 17 。設備預かり

 

統合された 

  

十二月三十一日

  

US $ 

  

十二月三十一日

 

48

 

US $ 

  

1 月 1 日現在の運搬価額

  

年間の追加 

 

旧グループ会社への処分

  

  -   年間供給量
     
  年度末のキャリバリー価値

 

-設備預金はラミネーション設備のためです スマートガラスの製造のためにこの年、同社はさらに $のデポジットを支払いました。

  

  - スイスに 100 万ドル、購入時限定 計画された運転のために 3 つの追加ラインを建設し、 $

  

  - 2021 年に支払われたラミネーションラインのデポジットのために 100 万ドル

 

  - 注釈 18 。無形資産

 

  - 統合された

 

  - テクノロジーとノウハウ

 

  - US $

 

特許と商標

 

US $

 

ソフトウェアおよびライセンス

 

US $

 

49

 

グッドウィル

 

ドル

 

総額

 

   US $ 
   2022   2021 
   費用
$
   2022年1月1日まで
追加
   処置する
$
   核販売
2022年12月31日まで
 
2023年1月1日まで                
追加   364,405    100    -    - 
規定   -    -    2,974    2.1 
2023年12月31日まで   -    -    141,337    97.9 
償却 · 減損損失の累積   364,405    100    144,311    100.00 

 

2022年1月1日まで. 償却

 

処置する.核販売

 

   2022年12月31日 
   2022   2021 
   2023年1月1日まで
$
   償却額
2023年12月31日まで
   帳簿金額
$
   2023年12月31日まで
2022年12月31日まで
 
注釈 19 。貿易およびその他の支払金   475,546    130.5    111,680    77.4 
統合された   -    -    -    - 
十二月三十一日   475,546    130.5    111,680    77.4 

 

US $

 

十二月三十一日 US $

 

貿易買掛金 

  

その他の支払い

 

取締役への支払額 ( i ) 

  

応算項目

  

取締役に対応する金は、非貿易的、無担保、無利子および要求時に返済される。 

  

付記20.転換可能チケット

 

50

 

統合された 

  

十二月三十一日

  

US $ 

 

十二月三十一日

  

  -   US $
     
  2022年7月から12月までに発行される転換可能な元札(付記1)

  

  - 2023年11月に発行された転換可能な額面(付記2)

  

  - 他の準備金に対する債務の割引

 

  - 発行された変換可能なチケットに含まれる派生ツール(付記) 22)

  

  - 初回確認時の負債構成

 

  -

当社株に転換する

 

  -

EGlass株に変換して償還する

 

  - 応算利息

 

年末の帳簿価値

 

注1

 

2022年7月から12月まで、当社は発表します 総額は約ドルだ

 

百万変換可能チケット(“CPNote(S)”)。CPNotesは無利子、無担保、転換可能です。 EGlassに当社前付属会社eGlass Technologies Ltd.(“eGlass”)の株式を受け取りました。 オーストラリア証券取引所(“ASX”)からの通知は、換算価格でオーストラリア証券取引所の公式上場リストに組み込まれる。 イコール

 

51

 

株価より%割引します。

 

売却純資産の繰越額 ( 下記 ( i ) )

 

所得税引前売上損失及び外貨換算準備金の分類変更  非制御的権益 

所得税引後処分損失

(i)処分純資産 :

統合された  ドル  ドル
ドル  無形資産  現金 · 銀行残高
その他の預金 · 前払い  関連会社への債務額  貿易その他の負債
注記 24 。ビジネスコンビネーション ( 続き )  (b)子会社の処分とみなす ( 続き )  (ii)子会社の売却による純キャッシュフロー
統合された  ドル  ドル

 

ドル

 

受領した対価とみなし、アソシエイトへの投資に満足

 

処分した子会社の現金及び現金同等物 ( 銀行預金及び銀行当座預金を含む )

 

(c)子会社の買収

 

2022 年 1 月 31 日、当社は

 

   % 株式会社ジョイント · インベストメント ( 「 JIL 」 ) の発行済資本金。契約に基づき、当社は米ドルを投資しました。
ね JIL が代表する
  JIL の出資% と相手方が受け取った
出資による JIL の出資比率 NFt 事業の運営 · 管理 · 事業開発において
   2023 年 6 月 28 日、当社は
% of 伊丹エナジー株式会社 ( 旧名称 : テコエナジー株式会社 ) ( 「テコ」 ) の発行済資本金。契約に基づき、当社は 投資 US $
 
          代表する TEKO で  
テコの株式保有率と   2021   2,051*   74,100 
子会社の Admiral Energy ( オーストラリア ) Pty の% 株式会社  2021   279,523*   12,160,400 
購入対価の詳細、ネット 取得した資産と善意は以下の通りです。  2022   220,000*   3,498,000 
統合された  2022   782,277*   22,550,846 
ドル  2022   117,256*   3,444,872 
ドル  2023   29,999*   90,000 
ドル  2023   66,145*   348,485 
購入対価 ( 下記 ( b ) 参照 ) :  2023   607,817    1,497,043 
支払いの現金  2023   114,116    228,232 
発行済普通株式  2023   300,000    750,000 
総購入考慮事項  2023   240,000    600,000 

 

*買収により認識された資産 · 負債は以下のとおりです。

 

52

 

現金

 

その他の資産

 

無形資産

 

装備

 

    掛け金を払う  
    2023     2022     2021  
    $     $     $  
その他の支払い     2,840,058       (17,183,849 )     (5,166,965 )
取得された特定可能負債     (14,998,240 )     (15,083,437 )     (11,305,979 )
非支配権益の増減     12,783,427       32,118,268       14,981,072  
善意の増大     625,245       (149,018     (1,491,872 )
その他準備金の増加     50,536       199,554       1,691,426  
注釈 25.発行済資本金     675,781       50,536       199,554  

 

(a)株式資本

 

2023年12月31日

 

2022年12月31日

 

2021年12月31日

 

53

 

数量

 

株式 *

 

ドル

 

数量

 

株式数 *

 

ドル

 

数量

 

株式 *

 

A.ドル

 

普通株式全額支払

 

2023 年 10 月 16 日に 10 株 1 株の株式連結を遡及的に適用しました。   (b)普通株式資本の変動
会社(1)   番号をつける
株式の(2)   ドル
2021年1月1日(3)   サービス用株式の発行
現金換株式発行(4)   債務の発行に関する法的費用
2021年12月31日(5)   現金と銀行残高
売掛金(6)   その他売掛金

 

(1) その他の資産
(2) 関連会社からの支払
(3) 旧グループ会社からの債務
(4) 金融資産総額
(5) 金融負債
(6) 貿易その他の負債

 

54

 

デリバティブ金融商品株式証負債

 

転換可能なチケット

 

金融負債総額注釈 28 。金融リスクマネジメント ( 続き )

 

(b)金利リスクマネジメント ( 続き )

 

統合された重みをつける

 

平均効果

 

利子 利率

 

浮遊

 

55

 

利子 利率

 

US $

 

据え置き

 

利子

 

利率ノン

 

利子

 

軸受

 

US $総額

 

US $

 

金融資産

 

現金と銀行残高売掛金

 

その他売掛金

 

融資を受けるべきだその他の資産

 

56

 

関連会社からの借金旧グループ会社からの債務

 

金融資産総額金融負債

 

貿易その他の負債転換可能なチケット

 

金融負債総額

 

(c)為替リスク

 

グループの純資産は 2023 年 12 月 31 日時点の外国通貨。グループを通貨に曝す外国通貨建て金融資産 · 負債 リスクは以下の通りです。

 

金額は、以下の決算レート、 AUD で USD に換算された主要経営陣に報告された金額です。

 

, CNY

 

、 EUR

 

, HKD

 

MYR です

 

57

 

、 SGD

 

、 KRW

 

  GBP と 統合された

 

  短期曝露 長期曝露

 

  マイル AUD

 

  KRW SGD

 

マイル

 

AUD

 

   KRW   SGD   2023年12月31日     
   金融資産   - 現金および現金等価物   -貿易およびその他の入金   - 貸付債権 
   - その他の資産       - 関連会社からの支払   - 旧会社からの借金             
   金融負債   - 貿易その他の負債   - 可換手形   総暴露量   注釈 28 。金融リスクマネジメント ( 続き )   % ) では、以下のような影響がありました。     
   $   $   $   $   $   $   $ 
統合された(1)   8,806    本年度の赤字    香港ドル    AUD    GBP    ユーロ    8,806 
マイル(2)   8,806    KRW    SGD    総額    2023年12月31日    2021 年 12 月 31 日    8,806 
統合された(3)   9,550    株式会社    香港ドル    AUD    GBP    ユーロ    9,550 
マイル(12)   KRW    SGD    総額    2023年12月31日    2022 年 12 月 31 日    USD が HKD に対して弱くなった場合     % ) 、 AUD by  
% ) 、 GBP by (4)   142,935    % ) 、ユーロによって     % ) 、 MYR by     % ) 、 KRW によって     % ) 、および SGD によって     % ) では、以下のような影響がありました。    142,935 
統合された(5)   -    本年度の赤字    香港ドル    AUD    GBP    ユーロ    - 
マイル(6)    51,852    KRW    SGD    総額    2023年12月31日    2022 年 12 月 31 日    51,852 
統合された(7)   106,296    株式会社    香港ドル    AUD    GBP    ユーロ    106,296 
マイル(8)   57,477    KRW    SGD    総額    2023年12月31日    2022 年 12 月 31 日    57,477 
為替レートへのエクスポージャーは 海外取引の量によって異なりますただし、上記の分析は、グループを代表するものと考えられます。 為替リスクへのエクスポージャー(9)   7,086    注釈 28 。金融リスクマネジメント ( 続き )    (d)流動性リスクマネジメント    健全な流動性リスク管理は維持を意味する。 十分な現金と定期預金、十分な量のコミットされた信用ファシリティを通じた資金調達の利用可能性、 市場ポジションを閉じますキャッシュフロー予測と実際のキャッシュフローを継続的にモニタリングし、キャッシュフローのマッチングを行うことで、流動性リスクを管理します。 金融資産と負債の満期プロファイルです    以下の表はグループの詳細です。 合意された返済条件または最早の日に基づく非デリバティブ金融負債の残存契約満期 グループが支払うことを求めることができます。この表は、財務負債の割引されていないキャッシュフローと 金利と元本キャッシュフローの両方を含みます    統合された    7,086 
総額(10)   6,114    契約書    0 — 30 日    携帯する    未割引    またはオン    6,114 
終わりました(11)   24,265    金額    キャッシュフロー    需要    日数    日数    24,265 
1年   423,187    ドル    ドル    ドル    ドル    ドル    423,187 

 

(1) ドル
(2) 貿易その他の負債
(3) 転換可能なチケット
(4) 統合された
(5) 総額
(6) 契約書
(7) 0 — 30 日
(8) 携帯する
(9) 無割引
(10) またはオン
(11) 終わりました
(12) 金額

 

58

 

 

キャッシュフロー

 

需要

 

日数

 

日数

 

1年

 

ドル

 

ドル

 

約束手形

 

導関数

 

埋め込まれた

 

転換可能

 

債券

 

発行

 

Issue of

 

株式

 

他にも

 

59

 

  1. 予備

 

  2. 総額

  

  a) ドル

 

  3. ドル

 

  4. ドル

 

  5. ドル

 

  6. ドル

 

  7. 2023 年 1 月 1 日時点の開始残高

 

  8. 融資活動によるキャッシュフロー

 

債務転換株式の発行

 

子会社の取得に伴う株式発行

 

Issue of

 

株式

 

他にも

 

予備

 

総額ドル

 

60

 

ドル

 

ドル

 

ドルドル

 

ドル

 

ドル

 

  2022 年 1 月 1 日現在残高 融資活動によるキャッシュフロー運転資本の変動

 

  債務転換株式の発行 債務割引デリバティブ金融商品の公正価値変動

 

  金融資産の売却に伴うその他の準備金の解放 転換手形償還

 

  導関数 埋め込まれた コンバーチブル

 

61

 

債券

 

発行

 

Issue of

 

株式

 

他にも

 

  予備 総額

 

  ドル ドル

 

ドル

 

ドル

 

ドル

 

ドル

 

ドル

 

ドル

 

2021 年 1 月 1 日時点の開始残高

 

融資活動によるキャッシュフロー

 

運転資本の変動

 

62

 

累積損失への他の準備金の振り替え

 

子会社を買収する

 

公正価値の変更

 

プラント · 設備の廃棄

 

2021 年 12 月 31 日末残高

 

       注 30 。キャッシュフロー情報 ( 続き )   運転資本の変動による純キャッシュアウトフロー   統合された     
       十二月三十一日   US $   十二月三十一日     
   US $   十二月三十一日   US $   運転資本の変動によるキャッシュフロー   % 
資産の ( 増減 ) :  売掛金   その他売掛金   在庫情報   支払済み    キャピタル 
                     
パーセント(1)   -           -    -    -    - 
オーナー(1)   -    -    -    -    - 
CIMC Marketing Pty Limited(2)   -    -    -    -    - 
オーストラリア(3)   4,152    -    -    4,152    * 
経営サービス · 投資ホールディングス(4)   -    -    -    -    - 
A $(5)   -    -    -    -    - 
% ( 直接 )   4,152    -    -    4,152    * 
% ( 直接 )(6)   50,769    -    789,147    839,916    19.99%
IMTE Asia Limited(6)   -    -    789,147    789,147    18.79%
香港.香港(7)   240,000    -    -    240,000    7.0%
休眠する(8)   210,000    -    -    210,000    6.2%
香港ドル$(8)   210,033    -    595,000    805,033    19.99%
% ( 直接 )(8)   -    -    595,000    595,000    14.78%

 

*% ( 直接 )

 

IMTE マレーシア Sdn 。Bhd 。

 

(1) マレーシア
   
(2) 電子ガラスの管理サービスと製造
   
(3) MYR
   
(4) % ( 直接 )
   
(5) % ( 直接 )
   
(6) イタナホールディングス株式会社
   
(7) カナダ
   
(8) 投資持株

 

63

 

ドル

 

% ( 直接 )

 

% ( 直接 )

 

メリット · ストーン · リミテッド

 

  a) 英領バージン諸島
     
  b) 投資持株

 

ドル

 

% ( 直接 )

 

  a) % ( 直接 )

 

オーホインターナショナル

 

カナダ

 

  a) フィルタープレート · エアフィルター製品の販売

 

  b) ドル

  

% ( 直接 )

 

% ( 直接 )

 

64

 

オークション · デジタル · リミテッド

 

カナダ

 

デジタル取引プラットフォームの提供とデジタル資産の販売

 

ドル

 

% ( 直接 )

 

% ( 直接 )

 

World Integrated Supply Ecosystem Sdn 。Bhd 。

 

マレーシア

 

ハラール商品の販売

 

MYR

 

% (間接)

 

% (間接)

 

イタナエナジー株式会社 *

 

オーストラリア

 

投資持株

 

A $

 

% (間接)

 

アドミラル · エナジー ( オーストラリア ) Pty Ltd *

 

オーストラリア

 

エネルギー製品の販売 · サービス

 

A $

 

% (間接)

 

年内に設立

 

注釈 33 。親会社情報 ( 未監査 )

 

65

 

以下は補足情報です。 親のエンティティについて

 

総合損益計算書

 

会社

 

十二月三十一日

  

US $

  

十二月三十一日

  

US $

 

十二月三十一日

 

US $

 

所得税引後の損失

 

その他総合収益

 

全面損失総額

 

財務諸表

 

会社

 

66

 

十二月三十一日

 

十二月三十一日

 

ドル

 

ドル

 

非流動資産総額

 

流動資産総額

 

総資産

 

流動負債総額

 

非経常負債総額

 

負債総額

 

総資産負債

 

株式会社

 

発行済み資本

 

その他の備蓄

 

損失を累計する

 

総株式

 

親法人が締結した保証 子会社の負債に関しては

 

本年次報告書に記載されていること以外、 親会社は子会社の負債を保証していなかった。

 

あるいは負債がある

 

本年次報告書に記載されている場合を除き、 2023 年 12 月 31 日および 2022 年 12 月 31 日時点で、親事業体は偶発的債務を有していません。

 

67

 

資本コミットメント — 設備

 

親事業体は資本コミットメントがない。 2023 年 12 月 31 日および 2022 年 12 月 31 日時点のプラントおよび設備

 

2022 年 4 月 28 日に提出されたフォーム 20—F に参照して組み込まれました。

 

2022 年 7 月 12 日に提出されたフォーム 6—k の参照により組み込まれました。

 

2022 年 8 月 2 日に提出されたフォーム 6—k の参照により組み込まれました。

 

2022 年 8 月 17 日に提出されたフォーム S—8 の参照によって組み込まれました。

 

2023 年 10 月 24 日に提出されたフォーム 6—k の参照によって組み込まれました。

 

2024 年 7 月 24 日に提出されたフォーム 6—k の参照によって組み込まれました。

 

フォーム 20—F でこの年次報告書を提出しました。

  

署名

 

登録者は、ここに満たすことを証明します。 フォーム 20—F に提出するためのすべての要件を満たし、下記署名者にこの年次報告書に署名することを正当に許可した。 そのために

 

インテグレーテッドメディアテクノロジー株式会社

 

/ s / ジャンヌ · ビンティ · バジャン

 

投稿者:

 

68

 

ジャンヌ · ビンティ · バブジャン

 

タイトル:

 

議長.議長

 

日時 : 2024 年 10 月 22 日

 

統合メディアテクノロジー株式会社

 

P 2 Y

 

2年

 

2年2年誤り

 

会計年度

 

デイ: ビジネスコンタクトメンバーifrs—full: IssuedCapitalMember

 

69

 

ifrs—full: 留保収益メンバー

 

  IFRS-FULL:他の保留メンバー IFRS-FULL:非制御的利益メンバー

 

  ifrs—full: IssuedCapitalMember ifrs—full: 留保収益メンバー

 

  IFRS-FULL:他の保留メンバー IFRS-FULL:非制御的利益メンバー

 

  ifrs—full: IssuedCapitalMember ifrs—full: 留保収益メンバー

 

  IFRS-FULL:他の保留メンバー IFRS-FULL:非制御的利益メンバー

 

  ifrs—full: IssuedCapitalMember ifrs—full: 留保収益メンバー

 

IFRS-FULL:他の保留メンバー

 

IFRS-FULL:非制御的利益メンバーifrs—full: IssuedCapitalMemberifrs—full: 留保収益メンバー

 

IFRS-FULL:他の保留メンバー

 

IFRS-FULL:非制御的利益メンバー

 

ifrs—full: IssuedCapitalMember

 

ifrs—full: 留保収益メンバー

 

IFRS-FULL:他の保留メンバーIFRS-FULL:非制御的利益メンバーifrs—full: IssuedCapitalMember

 

70

 

ifrs—full: 留保収益メンバー

 

IFRS-FULL:他の保留メンバーIFRS-FULL:非制御的利益メンバーifrs—full: BottomOfRangeMemberifrs—full: TopOfRangeMemberIFRS-FULL:コンピュータソフトウェアのメンバーifrs—full: BottomOfRangeMemberIFRS-FULL:コンピュータソフトウェアのメンバー

 

ifrs—full: TopOfRangeMember

 

IFRS-Full:レンタル改善メンバー

 

imte: オフィス家具 · 機器会員

 

imte: エアフィルター販売製品メンバー

 

imte: SalesOfAir フィルター製品メンバー

 

国/地域:私の

 

国/地域:私の

 

国/地域:私の

 

国:香港

 

71

 

国:香港

 

国:香港

 

国:CN

 

国:CN

 

国:CN

 

国: 米国

 

国: 米国

 

国: 米国

 

国: 米国

 

国: 米国

 

国: 米国

 

72

 

exch: GSXK

 

exch : GSXK

 

exch: GSXK

 

国/地域:私の国/地域:私の

 

国/地域:私の

 

国:カリフォルニア州

 

73

 

国:カリフォルニア州

 

国:カリフォルニア州

 

国/地域:オーストラリア

 

国/地域:オーストラリア

 

国/地域:オーストラリア国:香港

 

74

 

国:香港

 

国:香港国:CN

 

国:CN

 

国:CN

 

imte: 顧客メンバーimte: 顧客メンバー

 

imte: 顧客メンバー

 

imte: CustomerBMember

 

imte: CustomerBMember

 

75

 

imte: CustomerBMember

  

imte: CustomerCMember

 

imte: CustomerCMember

 

76

 

imte: CustomerCMember

 

imte: CustomerDMember

 

imte: CustomerDMember

 

imte: CustomerDMember

 

imte: 顧客メンバー

 

imte: 顧客メンバー

 

77

 

imte: 顧客メンバー

 

imte: SalesOfElectronicGlassMember

 

imte: SalesOfAir フィルター製品メンバーimte: ProvisionOfConsultancy メンバー

 

imte : NFTMemberimte: エネルギー製品 · ソリューションメンバー

 

imte: 企業メンバー

 

imte: 統合メンバー

 

imte: SalesOfElectronicGlassMember

 

imte: 信用リスク分析の提供メンバー

 

imte: ProvisionOfConsultancyMember

 

imte : NFTMember

 

imte: 企業メンバー

 

78

 

imte: 統合メンバー

 

imte: 3DDisplays の開発販売imte: SalesOfElectronicGlassMemberimte: 信用リスク分析の提供メンバー

 

imte: NFTMember

 

imte: 企業メンバー

 

imte: 統合メンバー

 

IFRS-Full:機器メンバ

 

IFRS-Full:機器メンバ

 

IFRS-Full:機器メンバ

 

ifrs—full: OfficeEquipmentMember

 

ifrs—full: OfficeEquipmentMember

 

ifrs—full: OfficeEquipmentMember

 

IFRS-Full:レンタル改善メンバー

 

IFRS-Full:レンタル改善メンバー

 

ifrs—full: その他無形資産メンバー

 

ifrs—full: その他無形資産メンバー

 

79

 

ifrs—full: その他無形資産メンバー

 

imte: OverThreeSixtyFiveDays メンバー

 

imte: キャピタルストーンホールディングス有限会社メンバー

 

imte: GreifenbergDigitalLimited メンバー

 

imte: GreifenbergDigitalLimited メンバー

 

imte: GreifenbergDigitalLimited メンバー

 

IFRS-Full:合同会社のメンバー

 

IFRS-Full:合同会社のメンバー

 

IFRS-Full:合同会社のメンバー

 

IFRS-Full:合同会社のメンバー

 

imte: eGlassTechnologiesLimited メンバー

 

ifrs—full: FixturesAndFittingsMember

 

IFRS-Full:レンタル改善メンバー

 

80

 

ifrs—full: FixturesAndFittingsMember

  

  i. IFRS-Full:機器メンバ

 

  ii. ifrs—full: FixturesAndFittingsMember

 

  iii. IFRS-Full:レンタル改善メンバー

 

ifrs—full: FixturesAndFittingsMember

 

IFRS-Full:機器メンバ

 

ifrs—full: FixturesAndFittingsMember

 

  ifrs—full: FixturesAndFittingsMember imte: CostMember

 

  imte: 技術とノウハウメンバー imte: CostMember

 

imte: PatentsAndTrademark メンバー

 

imte : CostMember

 

imte: SoftwareAndLicenseMember

 

imte : CostMember

 

IFRS-FULL:Goodwill Members

 

imte : CostMember

 

imte: CostMember

 

imte: 技術とノウハウメンバー

 

imte: CostMember

 

81

 

imte: PatentsAndTrademark メンバー

 

imte: CostMember

 

imte: SoftwareAndLicenseMember

 

imte: CostMember

 

IFRS-FULL:Goodwill Members

 

imte: CostMember  2023   2022 
imte: CostMember  $130,800   $150,500 
imte: 技術とノウハウメンバー  $-   $- 
IFRS-FULL:減価償却累計償却と相殺メンバー  $-   $5,500 

 

IFRS-FULL:Goodwill Members

 

IFRS-FULL:減価償却累計償却と相殺メンバー

 

IFRS-FULL:減価償却累計償却と相殺メンバー

 

imte: 技術とノウハウメンバー

 

IFRS-FULL:減価償却累計償却と相殺メンバー

 

imte: PatentsAndTrademark メンバー

 

IFRS-FULL:減価償却累計償却と相殺メンバー

 

imte: SoftwareAndLicenseMember

 

IFRS-FULL:減価償却累計償却と相殺メンバー

 

IFRS-FULL:Goodwill Members

 

IFRS-FULL:減価償却累計償却と相殺メンバー

 

82

 

imte: 技術とノウハウメンバー

 

imte: PatentsAndTrademark メンバー

 

imte: SoftwareAndLicenseMember

 

IFRS-FULL:Goodwill Members

 

imte: 技術とノウハウメンバー

 

imte: PatentsAndTrademark メンバー

 

imte: SoftwareAndLicenseMember

 

IFRS-FULL:Goodwill Members

 

IFRS-Full:DisposalOfMajorSubsidiaryMembers

 

imte: 認定子会社の処分メンバー

 

imte: 認定子会社の処分メンバー

 

imte: 認定子会社の処分メンバー

 

83

 

ifrs—full: 子会社会員

 

ifrs—full: 子会社メンバー

 

ifrs—full: 子会社メンバー

 

IFRS-Full:交換可能なツールメンバー

 

imte: NoteWarrantsMember

 

IFRS-Full:交換可能なツールメンバー

 

IFRS-Full:交換可能なツールメンバー   IFRS-Full:交換可能なツールメンバー
imte: ConvertibleNoteMember3487)   F-1
imte : NSINoteMember   F-3
IFRS-Full:交換可能なツールメンバー   F-4
imte: CPNotesMember   F-5
IFRS-Full:交換可能なツールメンバー   F-6
IFRS-Full:交換可能なツールメンバー   imte: MontagueCapitalPtyLtd メンバー

 

84

 

imte: MontagueCapitalPtyLtd メンバー

 

imte: MontagueCapitalPtyLtd メンバー
imte: NoteWarrantsMember

 

IFRS-Full:交換可能なツールメンバー

 

imte : NoteWarrantsMember

 

IFRS-Full:共有オプションのメンバー

 

ifrs—full: OrdinarySharesMember

 

imte: コンバーチブルプロミッソリーノートメンバー

 

ifrs—full: BottomOfRangeMember

 

ifrs—full: TopOfRangeMember

 

貨幣:オーストラリアドル

 

F-1

 

金種:人民元

 

通貨:ユーロ

 

通貨: HKD

 

貨幣:馬幣

 

金種:新元

 

通貨: KRW

 

通貨:ポンド

 

通貨: HKD

 

  imte: 強化メンバー 通貨: HKD

 

  imte: 強化メンバー 貨幣:オーストラリアドル

 

  imte: 強化メンバー 貨幣:オーストラリアドル

 

  imte: 強化メンバー 通貨:ポンド

 

  imte: 強化メンバー 通貨:ポンド

 

  imte: 強化メンバー 通貨:ユーロ
     
  imte: EURMember imte: 強化メンバー

 

通貨:ユーロ  
imte: 強化メンバー  

貨幣:馬幣 

 

imte: 強化メンバー

 

貨幣:馬幣

 

F-2

 

imte: 強化メンバー

通貨: KRW

imte: 強化メンバー

 

      通貨: KRW 
   imte: 強化メンバー  2023
金種:新元
   2022
imte: 強化メンバー
   2021
金種:新元
 
imte: 強化メンバー  4   373,676    364,405    144,311 
通貨: HKD      (261,566)   (475,546)   (111,680)
       112,110    (111,141)   32,631 
imte : 弱体化メンバー      4    392,622    14,096 
通貨: HKD  5   10,137    1,990    250,944 
imte: 弱体化メンバー  21   1,677,178    484,361    (629,564)
貨幣:オーストラリアドル      
-
    (202,363)   
-
 
       1,799,429    565,469    (331,893)
                   
imte: 弱体化メンバー                  
貨幣:オーストラリアドル  6   (418,622)   (633,884)   (1,495,288)
imte: 弱体化メンバー  7   (517,547)   (1,011,992)   (1,206,065)
通貨:ポンド  7   (919,465)   (1,373,141)   (991,512)
imte: 弱体化メンバー      (1,242,743)   (4,311,514)   (1,775,586)
通貨:ポンド      (5,932)   (110,526)   (68,291)
imte: 弱体化メンバー  7   (19,280,901)   (1,492,470)   (480,013)
通貨:ユーロ  7   14,885    98,144    1,256,730 
imte: 弱体化メンバー      (175,507)   (223,354)   
-
 
通貨:ユーロ      2,396,291    (2,408,271)   
-
 
imte: 弱体化メンバー      (20,149,541)   (11,467,008)   (4,760,025)
                   
貨幣:馬幣  7   (18,350,112)   (10,901,539)   (5,091,918)
imte: 弱体化メンバー  8   
-
    
-
    
-
 
                   
貨幣:馬幣      (18,350,112)   (10,901,539)   (5,091,918)
                   
imte: 弱体化メンバー                  
通貨: KRW      (16,733,789)   (9,968,493)   (4,726,284)
imte: 弱体化メンバー      (1,616,323)   (933,046)   (365,634)
                   
       (18,350,112)   (10,901,539)   (5,091,918)
                   
通貨: KRW      imte : 弱体化メンバー    金種:新元    imte : 弱体化メンバー 
金種:新元  10   (4.91)   (4.86)   (5.07)

 

imte : 弱体化メンバー

 

F-3

 

imte: 加重平均有効利息率メンバー

ifrs—full: FloatingInterestRateMember

IFRS-FULL:固定金利メンバー

 

       imte: NoninterestBearingMember 
       2023   2022 
   imte: 加重平均有効利息率メンバー   ifrs—full: FloatingInterestRateMember   IFRS-FULL:固定金利メンバー 
imte: 非興味ベアリングメンバー            
IFRS-FULL:財務資産償却コストメンバー            
ifrs—full: 短期借入メンバー        675,781    50,536 
IFRS-FULL:財務資産償却コストメンバー   11    -    580,582 
ifrs—full: 長期借金メンバー   11    17,354    2,039,517 
ifrs—full: 財務負債償却原価メンバー   12    2,996,964    4,195,077 
ifrs—full: 短期借入メンバー   13    
-
    6,902,000 
ifrs—full: 財務負債償却原価メンバー   11    215    1,695,707 
ifrs—full: 長期借金メンバー   14    
-
    476,815 
IFRS-FULL:財務資産償却コストメンバー   15    
-
    5,339,834 
                
ifrs—full: 短期借入メンバー        3,690,314    21,280,068 
                
IFRS-FULL:財務資産償却コストメンバー               
ifrs—full: 長期借金メンバー   16    1,444,460    2,233,393 
ifrs—full: 財務負債償却原価メンバー   17    24,260,847    14,260,847 
ifrs—full: 短期借入メンバー   18    739,207    869,387 
ifrs—full: 財務負債償却原価メンバー   14    
-
    175,507 
                
ifrs—full: 長期借金メンバー        26,444,514    17,539,134 
                
imte : 強化メンバー        30,134,828    38,819,202 
                
imte: 強化メンバー               
imte: 強化メンバー               
imte: 強化メンバー   19    926,669    698,493 
imte : 弱体化メンバー   20    
-
    5,118,173 
imte: 弱体化メンバー   22    1,449,000    1,677,178 
imte: 弱体化メンバー   23    11,980    
-
 
                
imte : 弱体化メンバー        2,387,649    7,493,844 
                
ifrs—full: GrossCarryingAmountMember               
imte: 合計契約未割引キャッシュフローメンバー   20    11,144,000    
-
 
IFRS-Full:3ヶ月遅れていないメンバー   23    
-
    2,408,271 
                
ifrs—full: 後で 3 ヶ月後で 6 ヶ月後ではないメンバー        11,144,000    2,408,271 
                
ifrs—full: 後 6 ヶ月後 1 年後メンバー        13,531,649    9,902,115 
                
ifrs—full: 後日 1 年メンバー        1,302,665    13,786,224 
                
ifrs—full: GrossCarryingAmountMember        16,603,179    28,917,087 
                
imte: 合計契約未割引キャッシュフローメンバー               
IFRS-Full:3ヶ月遅れていないメンバーifrs—full: 後で 3 ヶ月後で 6 ヶ月後ではないメンバーifrs—full: 後 6 ヶ月後 1 年後メンバー3,410,434ifrs—full: 後日 1 年メンバー2,052,359ifrs—full: Level2OfFairValueHierarchy メンバー   25    68,977,851    65,464,091 
ifrs—full: Level2OfFairValueHierarchy メンバー        1,986,542    (558,298)
ifrs—full: WrittenPutOptionsMember        (53,821,478)   (37,087,689)
                
ifrs—full: WrittenPutOptionsMember        17,142,915    27,818,104 
ifrs—full: WrittenPutOptionsMember        (539,736)   1,098,983 
                
ifrs—full: その他関係者メンバー        16,603,179    28,917,087 

 

*ifrs—full: その他関係者メンバー

 

ifrs—full: その他関係者メンバー

 

F-4

 

imte: コンバーチブルプロミッソリーノートメンバー

imte: デリバティブ埋め込み転換社債発行メンバー

imte: IssueOfSharesMember

 

   IFRS-FULL:他の保留メンバー     
   imte: コンバーチブルプロミッソリーノートメンバー
imte: デリバティブ埋め込み転換社債発行メンバー
   imte: IssueOfSharesMember
IFRS-FULL:他の保留メンバー
   imte: コンバーチブルプロミッソリーノートメンバー
imte: デリバティブ埋め込み転換社債発行メンバー
   imte: IssueOfSharesMember
IFRS-FULL:他の保留メンバー
   imte: AmountsDueTo 関連会社メンバー 
   imte: コンバーチブルプロミッソリーノートメンバー   IFRS-Full:レンタル担当メンバー   imte: デリバティブ埋め込み転換社債発行メンバー   imte: IssueOfSharesMember   IFRS-FULL:他の保留メンバー 
imte: AmountsDueTo 関連会社メンバー   23,784,959    (24,477,782)   2,084,870    2,559,797    3,951,844 
                          
imte: コンバーチブルプロミッソリーノートメンバー                         
IFRS-Full:レンタル担当メンバー   
-
    (4,726,284)   
-
    (365,634)   (5,091,918)
imte: デリバティブ埋め込み転換社債発行メンバー   
-
    
-
    
-
    
-
    
-
 
imte: IssueOfSharesMember   
-
    (4,726,284)   
-
    (365,634)   (5,091,918)
IFRS-FULL:他の保留メンバー   
-
    2,084,870    (2,084,870)   
-
    
-
 
imte: AmountsDueTo 関連会社メンバー   
-
    
-
    45,392    547,913    593,305 
IFRS-Full:レンタル担当メンバー   
-
    
-
    
-
    (1,175,894)   (1,175,894)
imte: AmountsDueTo 関連会社メンバー   74,100    
-
    
-
    
-
    74,100 
imte: AmountDueToHoldingCompanyMember   12,111,314    
-
    
-
    
-
    12,111,314 
imte: コンバーチブルプロミッソリーノートメンバー   35,970,373    (27,119,196)   45,392    1,566,182    10,462,751 
                          
IFRS-Full:レンタル担当メンバー                         
imte: デリバティブ埋め込み転換社債発行メンバー   
-
    (9,968,493)   
-
    (933,046)   (10,901,539)
imte: IssueOfSharesMember   
-
    
-
    
-
    
-
    
-
 
IFRS-FULL:他の保留メンバー   
-
    (9,968,493)   
-
    (933,046)   (10,901,539)
imte: 統合メンバー   
-
    
-
    (45,392)   
-
    (45,392)
imte: AdmiralEnergyAustraliaPtyLtd メンバー   
-
    
-
    (558,298)   962,907    404,609 
IFRS-Full:ParentMember   
-
    
-
    
-
    (497,060)   (497,060)
IFRS-Full:ParentMember   3,444,872    
-
    
-
    
-
    3,444,872 
IFRS-Full:ParentMember   3,498,000    
-
    
-
    
-
    3,498,000 
IFRS-Full:ParentMember   22,550,846    
-
    
-
    
-
    22,550,846 
IFRS-Full:ParentMember   65,464,091    (37,087,689)   (558,298)   1,098,983    28,917,087 
                          
IFRS-FULL:重大な一般共有取引メンバー                         
IFRS-FULL:重大な一般共有取引メンバー   
-
    (16,733,789)   
-
    (1,616,323)   (18,350,112)
IFRS-FULL:重大な一般共有取引メンバー   
-
    
-
    
-
    
-
    
-
 
IFRS-FULL:保証メンバー   
-
    (16,733,789)   
-
    (1,616,323)   (18,350,112)
xbrli: 株式   750,000    
-
    
-
    (22,396)   727,604 
iso4217: USD   
-
    
-
    2,544,840    
-
    2,544,840 
iso4217: USD   576,717    
-
    
-
    
-
    576,717 
xbrli: 株式   1,587,043    
-
    
-
    
-
    1,587,043 
xbrli: 純粋   600,000    
-
    
-
    
-
    600,000 
imte: セグメント   68,977,851    (53,821,478)   1,986,542    (539,736)   16,603,179 

 

imte: 顧客

 

F-5

 

ISO 4217:豪ドル

ISO 4217:香港ドル

ISO 4217:豪ドル

 

      xbrli: 株式 
      2023   2022   2021 
   ISO 4217:馬券  ISO 4217:KRW   ISO 4217:SGD   ISO 4217:ポンド 
iso4217: EUR               
iso4217: MNT      (18,350,112)   (10,901,539)   (5,091,918)
Adjustments to reconcile loss before income tax to net cash used in operating activities:                  
Depreciation and amortization      919,465    1,373,141    991,512 
Fair value change in derivative financial instruments  22   (1,677,178)   (484,361)   629,564 
Changes in fair value of warrants      (2,396,291)   2,408,271    
-
 
Share of losses of an associate      175,507    223,354    
-
 
Net cash inflow/(outflows) from changes in working capital  30(b)   5,175,402    (11,429,623)   (718,570)
Provision for inventories      1,009,444    775,969    7,054 
Provision for trade receivables      768,489    70,769    (10,753)
Provision for equipment deposit      5,000,000    
-
    
-
 
Provision for other receivable      2,235,638    
-
    
-
 
Provision for loan receivable      6,902,000    
-
    
-
 
Provision for other current assets      1,592,143    
-
    
-
 
Provision for due from associate      545,128    
-
    
-
 
Provision for due from former companies      217,639    
-
    
-
 
Provision for intangibles assets      722,784    
-
    
-
 
Loss/(gain) on disposal of subsidiaries  24(a)   
-
    84,934    (973,854)
Loss on deemed disposal of subsidiary      
-
    13,242    
-
 
Loss on disposal of investment in equity instrument      
-
    202,363    
-
 
Write off of intangible assets      
-
    425,736    
-
 
Plant and equipment written off      
-
    53,895    
-
 
                   
Net cash provided by/(used in) operating activities      2,840,058    (17,183,849)   (5,166,965)
                   
Cash flows from investing activities                  
Purchase of plant and equipment      (350)   (11,414)   (53,137)
Purchase of other assets – equipment deposits      (15,000,000)   (11,057,597)   (8,350,000)
Cash acquired on acquisition/(disposal) of subsidiaries  24   2,110    (3,743,148)   (24,605)
Purchase of intangible assets      
-
    (466,498)   (1,174,688)
Purchase of investment in financial assets      
-
    
-
    (397,583)
Purchase of right of use assets      
-
    
-
    (1,608,280)
Proceeds from sale of investment in equity instrument      
-
    195,220    
-
 
Capital injection from minority shareholders      
-
    
-
    302,314 
                   
Net cash used in investing activities      (14,998,240)   (15,083,437)   (11,305,979)
                   
Cash flows from financing activities                  
Net proceeds from issuance of ordinary shares      1,587,043    22,550,846    12,111,314 
Issuance of shares for services      576,717    3,498,000    74,100 
Proceeds from issuance of convertible promissory notes      15,000,000    5,502,927    
-
 
Finance costs for convertible notes      522,594    566,495    1,348,174 
Redemption for convertible notes      (4,902,927)   
-
    
-
 
Inception of lease liabilities      
-
    
-
    1,447,484 
                   
Net cash provided by financing activities  30(a)   12,783,427    32,118,268    14,981,072 
                   
Net increase/(decrease) in cash and cash equivalents      625,245    (149,018)   (1,491,872)
Cash and cash equivalents at the beginning of financial year      50,536    199,554    1,691,426 
                   
Cash and cash equivalents at the end of financial year      675,781    50,536    199,554 
                   
Analysis of cash and cash equivalents:                  
Cash and bank balances      675,781    50,536    199,554 

 

The above consolidated statements of cash flows should be read in conjunction with the accompanying notes.

 

F-6

 

INTEGRATED MEDIA TECHNOLOGY LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

(in United States dollars, unless otherwise noted)

  

NOTE 1. REPORTING ENTITY

 

The consolidated financial report covers the entity of Integrated Media Technology Limited (“IMTE”) and its controlled entities for the years ended December 31, 2023, 2022 and 2021 which were authorized for issue by the Board of Directors on October 22, 2024. IMTE is a for-profit public company limited by shares, incorporated and domiciled in Australia whose shares are publicly traded on the NASDAQ Capital Markets. IMTE is an investment holding company and its subsidiaries carry out the business of the Group in Australia, Korea, and Malaysia.

 

The Company and its subsidiaries are referred to as the “Group”.

 

Going Concern

 

The Group’s consolidated financial statements are prepared using International Financial Reporting Standards as issued by the International Accounting Standards Board applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Group has not yet established an ongoing source of revenue sufficient to cover its operating costs and allow it to continue as a going concern. For the year ended December 31, 2023, the Group had generated a net loss US$18,350,112 and had accumulated losses of US$53,821,478 since inception. The ability of the Group to continue as a going concern is dependent on the Group obtaining adequate capital to fund operating losses until it becomes profitable. If the Group is unable to obtain adequate capital, it could be forced to cease or reduce its operations.

 

In order to continue as a going concern, the Group will need, among other things, additional capital resources. For the year ended December 31, 2023, the funds raised were used for the purchase of equipment and working capital. The Group will need to continue to raise funds through the sale of its equity securities and issuance of debt instruments to obtain additional operating capital. The Group will continue to be dependent upon its ability, and will continue to attempt, to secure additional equity and/or debt financing until the Group can earn revenue and realize positive cash flow from its operations.

 

There are no assurances that the Group will be successful in earning revenue and realizing positive cash flow from its operations. Without sufficient financing it would be unlikely that the Group will continue as a going concern.

 

Based on the Group’s current rate of cash outflows, cash on hand and proceeds from the recent sales of equity securities and convertible notes after the year ended, management believes that its current cash may not be sufficient to meet the anticipated cash needs for working capital for the next 12 months for the investments in the switchable glass and Halal operations.

 

The Group’s plans with respect to its liquidity issues include, but are not limited to, the following:

 

1) Continue to raise financing through the sale of its equity and/or debt securities;

 

2) Continue developing its business, products and services and seek strategic partnerships and cooperative arrangement to grow our revenue and profitability.

  

The ability of the Group to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraphs and eventually secure other sources of financing and achieve profitable operations. These consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts and classification of liabilities that might result from this uncertainty.

 

The consolidated financial statements of the Group are presented in United States dollars (“US$” or “$”), unless otherwise stated.

 

F-7

 

NOTE 2. BASIS OF ACCOUNTING

 

The consolidated financial statements present general purpose financial report that have been prepared in accordance with Australian Accounting Standards (“AASBs”), including Australian Accounting Interpretations, other authoritative pronouncements of the Australian Accounting Standards Board and the Corporations Act 2001 as appropriate for for-profit entities. The consolidated financial statements also comply with International Financial Reporting Standards (“IFRSs”) as adopted by the International Accounting Standards Board.

 

NOTE 3. SIGNIFICANT ACCOUNTING POLICIES

 

The following is a summary of the significant accounting policies adopted by the Group in the preparation of the consolidated financial statements. The accounting policies have been consistently applied, unless otherwise stated.

 

(a) Basis of Preparation

 

The consolidated financial statements have been prepared on the accrual basis and are based on historical costs modified by the revaluation of selected non-current assets, financial assets and financial liabilities for which the fair value basis of accounting has been applied.

 

Change of reporting functional and presentation currency

 

Items included in the financial statements of each of the Group’s entities are measured using the currency of the primary economic environment in which the entity operates (the “functional currency”). Effective January 1, 2023, the Company adopted the US dollar (“US$” or “$”) as its functional currency. Prior to January 1, 2023, the functional currency of the Company was the Australian dollar and the Company’s financial results had been reported in Australian dollars as explained below. See below for additional disclosure regarding the change in functional currency.

 

The Company’s self-sustaining Malaysia operation is translated into US dollars using the current rate method, whereby assets and liabilities are translated at period-end exchange rates, while revenues and expenses are converted using average rates for the period. Gains and losses on translation to US dollars relating to self-sustaining operations are deferred and included in a separate component of shareholders’ equity described as cumulative foreign currency translation.

 

The remaining foreign operations are not considered self-sustaining and are translated using the temporal method. Under this method, monetary assets and liabilities denominated in foreign currencies are translated at exchange rates in effect at the balance sheet date. Non-monetary assets and liabilities denominated in foreign currencies are translated at rates in effect on the dates the assets were acquired or liabilities were assumed. Revenues and expenses are translated at rates of exchange prevailing on the transaction dates. Gains and losses on translation are reflected in income when incurred.

 

(b) Principles of Consolidation And Equity Accounting

 

(i) Subsidiaries

 

Subsidiaries are all entities (including structured entities) over which the Group has control. The Group controls an entity where the Group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power to direct the activities of the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the group. They are deconsolidated from the date that control ceases.

 

The acquisition method of accounting is used to account for business combinations by the group (see note 3(c)).

 

Inter-company transactions, balances and unrealised gains on transactions between group companies are eliminated. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the transferred asset. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the Group.

 

Non-controlling interests in the results and equity of subsidiaries are shown separately in the consolidated statement of profit or loss, statement of comprehensive income, statement of changes in equity and balance sheet respectively

 

(ii) Associates

 

Associates are all entities over which the Group has significant influence but not control or joint control. This is generally the case where the group holds between 20% and 50% of the voting rights. Investments in associates are accounted for using the equity method of accounting (see (iv) below), after initially being recognised at cost.

 

F-8

 

NOTE 3. SIGNIFICANT ACCOUNTING POLICIES (Continued)

 

(b) Principles of Consolidation and Equity Accounting (continued)

 

(iii) Equity method

 

Under the equity method of accounting, the investments are initially recognised at cost and adjusted thereafter to recognise the Group’s share of the post-acquisition profits or losses of the investee in profit or loss, and the Group’s share of movements in other comprehensive income of the investee in other comprehensive income. Dividends received or receivable from associates and joint ventures are recognised as a reduction in the carrying amount of the investment.

 

Where the Group’s share of losses in an equity-accounted investment equals or exceeds its interest in the entity, including any other unsecured long-term receivables, the Group does not recognise further losses, unless it has incurred obligations or made payments on behalf of the other entity.

 

Unrealised gains on transactions between the Group and its associates and joint ventures are eliminated to the extent of the Group’s interest in these entities. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred. Accounting policies of equity-accounted investees have been changed where necessary to ensure consistency with the policies adopted by the Group.

 

The carrying amount of equity-accounted investments is tested for impairment in accordance with the policy described in note 3(h).

 

(iv) Changes in ownership interests

 

The Group treats transactions with non-controlling interests that do not result in a loss of control as transactions with equity owners of the Group. A change in ownership interest results in an adjustment between the carrying amounts of the controlling and non-controlling interests to reflect their relative interests in the subsidiary. Any difference between the amount of the adjustment to non-controlling interests and any consideration paid or received is recognised in a separate reserve within equity attributable to owners of IMTE.

 

When the Group ceases to consolidate or equity account for an investment because of a loss of control, joint control or significant influence, any retained interest in the entity is remeasured to its fair value, with the change in carrying amount recognised in profit or loss. This fair value becomes the initial carrying amount for the purposes of subsequently accounting for the retained interest as an associate, joint venture or financial asset. In addition, any amounts previously recognised in other comprehensive income in respect of that entity are accounted for as if the Group had directly disposed of the related assets or liabilities. This may mean that amounts previously recognised in other comprehensive income are reclassified to profit or loss.

 

If the ownership interest in a joint venture or an associate is reduced but joint control or significant influence is retained, only a proportionate share of the amounts previously recognised in other comprehensive income are reclassified to profit or loss where appropriate.

 

(c) Business Combinations

 

The Group accounts for business combinations using the acquisition method when control is transferred to the Group. The consideration transferred by the Company to obtain control of a subsidiary is calculated as the sum of the acquisition-date fair values of assets transferred, liabilities incurred and the equity interests issued by the Company, which includes the fair value of any asset or liability arising from a contingent consideration arrangement. Acquisition costs are expensed as incurred, except if related to the issue of debt or equity securities.

 

The Company recognizes identifiable assets acquired and liabilities assumed in a business combination regardless of whether they have been previously recognized in the acquiree’s financial statements prior to the acquisition. Assets acquired and liabilities assumed are generally measured at their acquisition-date fair values.

 

F-9

 

NOTE 3. SIGNIFICANT ACCOUNTING POLICIES (Continued)

 

(c) Business Combinations (continued)

 

Goodwill is stated after separate recognition of identifiable intangible assets. It is calculated as the excess of the sum of: (a) fair value of consideration transferred, (b) the recognized amount of any non-controlling interest in the acquiree, and (c) acquisition-date fair value of any existing equity interest in the acquiree, over the acquisition-date fair values of identifiable net assets.

 

Any contingent consideration to be transferred by the acquirer is recognized at acquisition-date fair value. Subsequent adjustments to consideration are recognized against goodwill only to the extent that they arise from new information obtained within the measurement period (a maximum of 12 months from the acquisition date) about the fair value at the acquisition date. All other subsequent adjustments to contingent consideration classified as an asset or a liability are recognized in the consolidated statement of profit or loss.

 

(d) Current And Deferred Income Tax

 

Income tax for the year comprises current tax and movements in deferred tax assets and liabilities. Current tax and movements in deferred tax assets and liabilities are recognised in profit or loss except to the extent that they relate to items recognised in other comprehensive income/loss or directly in equity, in which case the relevant amounts of tax are recognised in other comprehensive income or directly in equity, respectively.

 

Current tax is the expected tax payable on the taxable income for the year, using tax rates enacted or substantively enacted at the end of the reporting period, and any adjustment to tax payable in respect of previous years.

 

Deferred tax assets and liabilities arise from deductible and taxable temporary differences respectively, being the differences between the carrying amounts of assets and liabilities for financial reporting purposes and their tax bases. Deferred tax assets also arise from unused tax losses and unused tax credits.

 

Apart from certain limited exceptions, all deferred tax liabilities, and all deferred tax assets to the extent that it is probable that future taxable profits will be available against which the asset can be utilised, are recognised. Future taxable profits that may support the recognition of deferred tax assets arising from deductible temporary differences include those that will arise from the reversal of existing taxable temporary differences, provided those differences relate to the same taxation authority and the same taxable entity, and are expected to reverse either in the same period as the expected reversal of the deductible temporary difference or in periods into which a tax loss arising from the deferred tax asset can be carried back or forward. The same criteria are adopted when determining whether existing taxable temporary differences support the recognition of deferred tax assets arising from unused tax losses and credits, that is, those differences are taken into account if they relate to the same taxation authority and the same taxable entity, and are expected to reverse in a period, or periods, in which the tax loss or credit can be utilised.

 

The limited exceptions to recognition of deferred tax assets and liabilities are those temporary differences arising from goodwill not deductible for tax purposes, the initial recognition of assets or liabilities that affect neither accounting nor taxable profit (provided they are not part of a business combination), and temporary differences relating to investments in subsidiaries to the extent that, in the case of taxable differences, the Group controls the timing of the reversal and it is probable that the differences will not reverse in the foreseeable future, or in the case of deductible differences, unless it is probable that they will reverse in the future.

 

The carrying amount of a deferred tax asset is reviewed at the end of each reporting period and is reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow the related tax benefit to be utilised. Any such reduction is reversed to the extent that it becomes probable that sufficient taxable profits will be available.

 

F-10

 

NOTE 3. SIGNIFICANT ACCOUNTING POLICIES (Continued)

 

(d) Current And Deferred Income Tax (continued)

 

Current tax balances and deferred tax balances, and movements therein, are presented separately from each other and are not offset. Current tax assets are offset against current tax liabilities, and deferred tax assets against deferred tax liabilities, if the Company or the Group has the legally enforceable right to set off current tax assets against current tax liabilities and the following additional conditions are met:

 

  (i) in the case of current tax assets and liabilities, the Group intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously; or

 

  (ii) in the case of deferred tax assets and liabilities, if they relate to income taxes levied by the same taxation authority on either:

 

  - the same taxable entity; or

 

  - different taxable entities, which, in each future period in which significant amounts of deferred tax liabilities or assets are expected to be settled or recovered, intend to realize the current tax assets and settle the current tax liabilities on a net basis or realized and settle simultaneously.

 

(e) Intangible Assets

 

(i) Acquired both separately and from a business combination

 

Purchased intangible assets are initially measured at cost. The cost of an intangible asset acquired in a business combination is its fair value as at the date of acquisition. Following initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Intangible assets with finite lives are amortised over the useful life and assessed for impairment whenever there is an indication that the intangible asset may be impaired. The amortisation period and the amortisation method for an intangible asset with a finite useful life are reviewed at each financial year end. Intangible assets, excluding development costs, created within the business are not capitalised and expenditure is charged against profits in the period in which the expenditure is incurred.

 

(ii) Intellectual property

 

Expenditure incurred on patents, trademarks or licenses are capitalized from the date of application. They have a definite useful life and are carried at cost less accumulated amortization. They are amortized using the straight-line method over their estimated useful lives for a period of 8 to 15 years.

 

(iii) Research and development costs

 

Development projects in the consolidated statements of financial position represent the development costs directly attributable to and incurred for internal technology projects of the Group. An intangible asset arising from development expenditure on an internal technology project is recognised and included in development projects only when the Group can demonstrate the technical feasibility of completing the intangible asset or technology so that it will be available for application in existing or new products or for sale, its intention to complete and its ability to use or sell the asset, how the asset will generate future economic benefits, the availability of resources to complete the development, the ability to measure reliably the expenditure attributable to the intangible asset during its development and the ability to use the tangible asset generated. For labour costs, all research and development member salaries that are directly attributable to the technology project are capitalised. Administrative staff and costs are recognised in the profit or loss instead of capitalising this portion of costs. Following the initial recognition of the development expenditure, the cost model is applied requiring the asset to be carried at cost less any accumulated impairment losses. The amortisation rate of these intangible assets was determined on the basis of the estimated useful life from the time that the relevant asset is taken into use.

 

F-11

 

NOTE 3. SIGNIFICANT ACCOUNTING POLICIES (Continued)

 

(e) Intangible Assets (continued)

 

(iv) Computer software

 

Acquired computer software licenses are capitalized on the basis of the costs incurred to acquire and bring to use the specific software. These costs are amortized over their estimated useful lives ranging 2-5 years. Costs associated with maintaining computer software are recognized as an expense when incurred.

 

(f) Inventories

 

Finished goods are stated at the lower of cost and net realizable value on a “weighted average cost” basis. Cost comprises direct materials and delivery costs, import duties and other taxes. Costs of purchased inventories are determined after deducting rebates and discounts received or receivable. Net realizable value is the estimated selling price in the ordinary course of business less the estimated costs necessary to make the sale.

 

(g) Leases

 

As a lessee

 

At commencement or on modification of a contract that contains a lease component, the Group allocates the consideration in the contract to each lease component on the basis of its relative and-alone prices. However, for the leases of property the Group has elected not to separate lease components and account for the lease and non-lease components as a single lease component.

 

The Group recognises a right-of-use asset and a lease liability at the lease commencement date. The right-of-use asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for any lease payments made at or before the commencement date, plus any initial direct costs incurred and an estimate of costs to dismantle and remove the underlying asset or to restore the underlying asset or the site on which it is located, less any lease incentives received.

 

The right-of-use asset is subsequently depreciated using the straight-line method from the commencement date to the end of the lease term, unless the lease transfers ownership of the underlying asset to the Group by the end of the lease term or the cost of the right-of-use asset reflects that the Group will exercise a purchase option. In that case the right-of-use asset will be depreciated over the useful life of the underlying asset, which is determined on the same basis as those of property and equipment. In addition, the right-of-use asset is periodically reduced by impairment losses, if any, and adjusted for certain remeasurements of the lease liability. The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the Group’s incremental borrowing rate. Generally, the Group uses its incremental borrowing rate as the discount rate.

 

F-12

 

NOTE 3. SIGNIFICANT ACCOUNTING POLICIES (Continued)

 

(g) Leases (continued)

 

The Group determines Its incremental borrowing rate by obtaining interest rates from various external financing sources and makes certain adjustments to reflect the terms of the lease and type of the asset leased.

 

Lease payments included in the measurement of the lease liability comprise the following:

 

- fixed payments, including in-substance fixed payments;

 

- variable lease payments that depend on an index or a rate, initially measured using the index or rate as at the commencement date;

 

- amounts expected to be payable under a residual value guarantee; and

 

- the exercise price under a purchase option that the Group is reasonably certain to exercise, lease payments in an optional renewal period if the Group is reasonably certain to exercise an extension option, and penalties for early termination of a lease unless the Group is reasonably certain not to terminate early.

 

The lease liability is measured at amortised cost using the effective interest method. It is remeasured when there is a change in future lease payments arising from a change in an index or rate, if there is a change in the Group’s estimate of the amount expected to be payable under a residual value guarantee, if the Group changes its assessment of whether it will exercise a purchase, extension or termination option or if there is a revised in-substance fixed lease payment.

 

When the lease liability is remeasured in this way, a corresponding adjustment is made to the carrying amount of the right-of-use asset, or is recorded in profit or loss if the carrying amount of the right-of-use asset has been reduced to zero.

 

The Group presents right-of-use assets that do not meet the definition of investment property in property, plant and equipment and lease liabilities in loans and borrowings in the statement of financial position.

 

Short-term leases and leases of low-value assets

 

The Group has elected not to recognize right-of-use assets and lease liabilities for leases of low value assets and short-term leases, including IT equipment. The Group recognizes the lease payments associated with these leases as an expense on a straight-line basis over the lease term.

 

(h) Impairment of Assets

 

Internal and external sources of information are reviewed at the end of each reporting period to identify indications that the following assets may be impaired or an impairment loss previously recognised no longer exists or may have decreased:

 

- plant and equipment (other than properties carried at revalued amounts);

 

- intangible assets.

 

F-13

 

NOTE 3. SIGNIFICANT ACCOUNTING POLICIES (Continued)

 

If any such indication exists, the asset’s recoverable amount is estimated. In addition for intangible assets that are not yet available for use and intangible assets that have indefinite useful lives, the recoverable amount is estimated annually whether or not there is any indication of impairment.

 

(h) Impairment of Assets (Continued)

 

(i) Calculation of recoverable amount

 

The recoverable amount of an asset is the greater of its fair value less costs of disposal and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. Where an asset does not generate cash inflows largely independent of those from other assets, the recoverable amount is determined for the smallest group of assets that generates cash inflows independently (i.e. a cash-generating unit).

 

(ii) Recognition of impairment losses

 

An impairment loss is recognized in profit or loss if the carrying amount of an asset, or the cash-generating unit to which it belongs, exceeds its recoverable amount. Impairment losses recognized in respect of cash-generating units are allocated first to reduce the carrying amount of any goodwill allocated to the cash-generating unit (or group of units) and then, to reduce the carrying amount of the other assets in the unit (or group of units) on a pro rata basis, except that the carrying value of an asset will not be reduced below its individual fair value less costs of disposal (if measurable) or value in use (if determinable).

 

(iii) Reversals of impairment losses

 

In respect of assets other than goodwill, an impairment loss is reversed if there has been a favorable change in the estimates used to determine the recoverable amount. An impairment loss in respect of goodwill is not reversed.

 

A reversal of an impairment loss is limited to the asset’s carrying amount that would have been determined had no impairment loss been recognized in prior years. Reversals of impairment losses are credited to profit or loss in the year in which the reversals are recognized.

 

(i) Trade Deposits

 

Trade deposits are payments in advance to suppliers of equipment, products and services, which are initially recognized at fair value and thereafter stated at amortized cost using the effective interest method less impairment losses, except where the effect of discounting would be immaterial.

 

(j) Plant and Equipment

 

Items of plant and equipment are measured at cost less accumulated depreciation and impairment losses.

 

The carrying amount of plant and equipment is reviewed annually by the directors to ensure it is not in excess of the recoverable amount from those assets. The recoverable amount is assessed on the basis of the expected net cash flows that will be received from the asset’s employment and subsequent disposal. The expected net cash flows have been discounted to their present values in determining recoverable amounts.

 

The depreciable amount of all fixed assets are depreciated over their estimated useful lives to the Group commencing from the time the assets is held ready for use.

 

F-14

 

NOTE 3. SIGNIFICANT ACCOUNTING POLICIES (Continued)

 

(j) Plant and Equipment (Continued)

 

Depreciation is calculated on a straight-line basis to write the net cost of each item of plant and equipment over their expected useful lives. The depreciation rates used for each class of depreciable assets are generally as follows:

 

Class of fixed assets   Depreciation rate
Leasehold Improvements   lesser of 5 years or lease term
Office Furniture and Equipment   5-12 years
Machinery   5-12 years

 

Gains and losses on disposal are determined by deducting the net book value of the assets from the proceeds of sale and are booked to the profit or loss in the year of disposal.

 

(k) Foreign Currency Translation

 

(i) Functional and presentation currency

 

As disclosed above, effective January 1, 2023, the Company adopted the US dollar as its functional currency. Prior to January 1, 2023, the functional currency of the Company was the Australian dollar. The reason for the change of functional currency is for the change of the currency used in the business operations, including in Australia where the Company did not have business operations regarding to the revenue and purchase operations or used the Australian dollar in its or the Groups operations. The Malaysia operation is considered self-sustaining with the Malaysia Ringette as their functional currency. The remaining operations are considered integrated and have the US dollar as their functional currency.

 

The change in functional currency of the Company is due to the increased exposure to the US dollar as a result of the growth in international operations outside Australia. The adoption of the Malaysia Ringette as the functional currency of the Malaysia operation is the result of the increased financial self-sustainability of this operation and its overall exposure to Ringette transactions.

 

The change in functional currency did not have any material effect to net income for the period as most of the assets and liabilities were US dollar denominated.

 

Items included in the financial statements of each of the Group’s entities are measured using the currency of the primary economic environment in which the entity operates (the “functional currency”). The consolidated financial statements are presented in United States dollars (“US$” or “$”), which is the Group’s presentation currency.

 

(ii) Transactions and balances

 

Foreign currency transactions during the year are translated at the foreign exchange rates ruling at the transaction dates. Monetary assets and liabilities denominated in foreign currencies are translated at the foreign exchange rates ruling at the end of the reporting period. Exchange gains and losses are recognized in profit or loss, except those arising from foreign currency borrowings used to hedge a net investment in a foreign operation which are recognized in other comprehensive income.

 

Non-monetary assets and liabilities that are measured in terms of historical cost in a foreign currency are translated using the foreign exchange rates ruling at the transaction dates. Non-monetary assets and liabilities denominated in foreign currencies that are stated at fair value are translated using the foreign exchange rates ruling at the dates the fair value was measured.

 

(iii) Group companies

 

The results of foreign operations are translated into United States Dollars at the exchange rates approximating the foreign exchange rates ruling at the dates of the transactions. Statement of financial position items, are translated into United States Dollars at the closing foreign exchange rates at the end of the reporting period. The resulting exchange differences are recognized in other comprehensive income and accumulated separately in equity in the exchange reserve.

 

On disposal of a foreign operation, the cumulative amount of the exchange differences relating to that foreign operation is reclassified from equity to profit or loss when the profit or loss on disposal is recognized.

 

For the years ended December 31, 2023 and 2022, there was no comprehensive income. The significant monetary items denominated in currencies other than United States dollars include trade and other receivables and inventories.

 

F-15

 

NOTE 3. SIGNIFICANT ACCOUNTING POLICIES (Continued)

 

(l) Trade and Other Receivables

 

Trade receivables are recognized at original invoice amounts less an allowance for uncollectible amounts and have repayment terms between 30 and 90 days. Collectability of trade receivables is assessed on an ongoing basis. Debts which are known to be uncollectible are written off. An allowance is made for doubtful debts where there is objective evidence that the Group will not be able to collect all amounts due according to the original terms. Objective evidence of impairment includes financial difficulties of the debtor, default payments or debts more than 30 days overdue. On confirmation that the trade receivable will not be collectible, the gross carrying value of the asset is written off against the associated provision.

 

Other receivables generally arise from transactions outside the usual operating activities of the Group.

 

(m) Trade and Other Payables

 

These amounts represent liabilities for goods and services provided to the Group prior to the end of the financial year which are unpaid. The amounts are unsecured and are paid on normal commercial terms.

 

(n) Warrant Liabilities

 

The warrant liabilities which are viewed as debts instruments, are measured at fair value through profit or loss. Each of the Company’s warrants contains a written put option and as a result of the existence of these put options, the warrants are required to be classified as a financial liability under IAS32.

 

The liability has been designated as at fair value through profit or loss on initial recognition and subsequent changes in fair value are recognised in the profit or loss. This liability is considered a derivative financial liability.

 

The warrant liability is classified as non-current, unless the underlying warrants will expire or be settled within 12 months from the end of a given reporting period.

 

(o) Provisions and Contingent Liabilities

 

Provisions are recognized for other liabilities of uncertain timing or amount when the Group has a legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Where the time value of money is material, provisions are stated at the present value of the expenditure expected to settle the obligation.

 

Where it is not probable that an outflow of economic benefits will be required, or the amount cannot be estimated reliably, the obligation is disclosed as a contingent liability, unless the probability of outflow of economic benefits is remote. Possible obligations, whose existence will only be confirmed by the occurrence or non-occurrence of one or more future events are also disclosed as contingent liabilities unless the probability of outflow of economic benefits is remote.

 

(p) Borrowings

 

Borrowings are initially recognized at fair value, net of transaction costs incurred. Borrowings are subsequently measured at amortized cost. Any difference between the proceeds (net of transaction costs) and the redemption amount is recognized in profit or loss over the period of the borrowings using the effective interest method. Fees paid on the establishment of loan facilities, which are not an incremental cost relating to the actual draw-down of the facility, are recognized as an offset against the liability balance and amortized on a straight-line basis over the term of the facility.

 

Borrowings are removed from the statement of financial position when the obligation specified in the contract is discharged, cancelled or expired. The difference between the carrying amount of the financial liability that has been extinguished or transferred to another party and the consideration paid, including any non-cash assets transferred or liabilities assumed, is recognized in other income or other expenses.

 

F-16

 

NOTE 3. SIGNIFICANT ACCOUNTING POLICIES (Continued)

 

(p) Borrowings (continued)

 

Borrowings are classified as current liabilities unless the Group has an unconditional right to defer settlement of the liability for at least 12 months after the end of the reporting period.

 

(q) Borrowing Costs

 

Borrowing costs that are directly attributable to the acquisition, construction or production of an asset which necessarily takes a substantial period of time to get ready for its intended use or sale are capitalised as part of the cost of that asset. Other borrowing costs are expensed in the period in which they are incurred.

 

The capitalization of borrowing costs as part of the cost of a qualifying asset commences when expenditure for the asset is being incurred, borrowing costs are being incurred and activities that are necessary to prepare the asset for its intended use or sale are in progress. Capitalisation of borrowing costs is suspended or ceases when substantially all the activities necessary to prepare the qualifying asset for its intended use or sale are interrupted or complete.

 

(r) Convertible Promissory Note

 

Convertible promissory note that can be converted into ordinary shares at the option of the holder, where the number of shares to be issued is fixed, are accounted for as compound financial instruments, i.e. they contain both a liability component and an equity component.

 

At initial recognition the liability component of the convertible promissory note is measured at fair value based on the future interest and principal payments, discounted at the prevailing market rate of interest for similar non-convertible instruments. The equity component is the difference between the initial fair value of the convertible promissory note as a whole and the initial fair value of the liability component. Transaction costs that relate to the issue of a compound financial instrument are allocated to the liability and equity components in proportion to the allocation of proceeds.

 

The liability component is subsequently carried at amortised cost. Interest expense recognised in profit or loss on the liability component is calculated using the effective interest method. The equity component is recognised in other reserve until either the bonds are converted or redeemed. If the note is converted, the other reserve, together with the carrying amount of the liability component at the time of conversion, is transferred to share capital as consideration for the shares issued. If the note is redeemed, the other reserve is transferred to the retained earning reserve account.

 

(s) Derivative Financial Instruments

 

Derivative financial instruments are recognised at fair value. At the end of each reporting period the fair value is remeasured. The gain or loss on remeasurement to fair value is recognised immediately in profit or loss.

 

(t) Employee Benefits

 

(i) Employee leave entitlements

 

Employee entitlements to annual leave are recognised when they accrue to employees. A provision is made for the estimated liability for annual leave as a result of services rendered by employees up to the date of the statement of financial position.

 

Employee entitlements to sick leave and maternity leave are not recognised until the time of leave.

 

F-17

 

NOTE 3. SIGNIFICANT ACCOUNTING POLICIES (Continued)

 

(t) Employee Benefits (continued)

 

(ii) Pension obligations

 

Salaries, annual bonuses, paid annual leave, contributions to defined contribution retirement plans and the cost of non-monetary benefits are accrued in the year in which the associated services are rendered by employees. Where payment or settlement is deferred and the effect would be material, these amounts are stated at their present values.

 

(u) Cash and Cash Equivalents

 

Cash and cash equivalents include cash on hand and call deposits with banks or financial institutions and net of bank overdrafts.

 

(v) Revenue

 

Revenue is recognized in accordance with IFRS 15 Revenue from Contracts with Customers. The underlying principle is to recognize revenue when a customer obtains control of the promised goods at an amount that reflects the consideration that is expected to be received in exchange for those goods. It also requires increased disclosures including the nature, amount, timing, and uncertainty of revenues and cash flows related to contracts with customers.

 

We recognize revenue upon transfer of control of the promised goods in a contract with a customer in an amount that reflects the consideration we expect to receive in exchange for those products. Transfer of control occurs once the customer has the contractual right to use the product, generally upon shipment or once delivery and risk of loss has transferred to the customer. We account for a contract with customer when we have approval and commitment from both parties, the rights of the parties and payment terms are identified, the contract has commercial substance and collectability of consideration is probable. We identify separated contractual performance obligations and evaluate each distinct performance obligation within a contract, whether it is satisfied at a point in time or over time. All of our performance obligations for the reported periods were satisfied at a point in time.

 

Revenue is allocated among performance obligations in a manner that reflects the consideration that we expect to be entitled to for the promised goods based on standalone selling prices (SSP). SSP are estimated for each distinct performance obligation and judgment may be required in their determination. The best evidence of SSP is the observable price of the product when we sell the goods separately in similar circumstances and to similar customers.

 

Interest Income

 

Revenue is recognized as interest accrues using the effective interest method.

 

(w) Sales Taxes

 

Revenues, expenses and assets are recognized net of the amount of goods and services tax (“GST”) or valued-added tax (“VAT”), except where the amount of GST or VAT incurred is not recoverable from the Australian Taxation Office or taxation authorities in other jurisdictions. In these circumstances, the GST or VAT is recognized as part of the cost of acquisition of the assets or as part of an item of expense. Receivables and payables in the consolidated statement of financial position are shown inclusive of GST or VAT. 

 

Cash flows are included in the consolidated statement of cash flows on a gross basis and the GST or VAT component of cash flows arising from investing and financing activities, which is recoverable from, or payable to, the taxation authority are classified as operating cash flows.

 

F-18

 

NOTE 3. SIGNIFICANT ACCOUNTING POLICIES (Continued)

   

(x) Earnings Per Share

 

(i) Basic earnings per share

 

Basic earnings per share is calculated by dividing the profit attributable to equity holders of the Group, excluding any costs of servicing equity other than ordinary shares, by the weighted average number of ordinary shares outstanding during the financial year, adjusted for bonus elements in ordinary shares issued during the year.

 

(ii) Diluted earnings per share

 

Diluted earnings per share adjusts the figures used in the determination of basic earnings per share to take into account the after income tax effect of interest and other financing costs associated with dilutive potential ordinary shares and the weighted average number of shares assumed to have been issued for no consideration in relation to dilutive potential ordinary shares.

 

(y) Issued Capital

 

Ordinary shares are classified as equity.

 

Incremental costs directly attributable to the issue of new shares or options are shown in equity as a deduction, net of tax, from the proceeds. Incremental costs directly attributable to the issue of new shares or options for the acquisition of a business are not included in the cost of the acquisition as part of the purchase consideration.

 

(z) Related Party Transactions

 

For the purpose of these consolidated financial statements, related party includes a person and entity as defined below:

 

  (i) A person, or a close member of that person’s family, is related to the Group if that person:

 

  (i) has control or joint control over the Group;

 

  (ii) has significant influence over the Group; or

 

  (iii) is a member of the key management personnel of the Group or the Group’s parent.

 

  (ii) An entity is related to the Group if any of the following conditions applies:

 

  (i) the entity and the Group are members of the same group (which means that each parent, subsidiary and fellow subsidiary is related to the others).

 

  (ii) one entity is an associate or joint venture of the other entity (or an associate or joint venture of a member of a group of which the other entity is a member).

 

  (iii) both entities are joint ventures of the same third party.

 

  (iv) one entity is a joint venture of a third entity and the other entity is an associate of the third entity.

 

  (v) the entity is a post-employment benefit plan for the benefit of employees of either the Group or an entity related to the Group.

 

  (vi) the entity is controlled or jointly controlled by a person identified in (i).
     
  (vii) A person identified in (i)(i) has significant influence over the entity or is a member of the key management personnel of the entity (or of a parent of the entity).
     
  (viii) The entity, or any member of a group of which it is a part, provides key management personnel services to the reporting entity or to the parent of the reporting entity.

 

F-19

 

NOTE 3. SIGNIFICANT ACCOUNTING POLICIES (Continued)

 

(aa) Fair Value

 

Fair values may be used for financial asset and liability measurement and for sundry disclosures.

 

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. It is based on the presumption that the transaction takes place either in the principal market for the asset or liability or, in the absence of a principal market, in the most advantageous market. The principal of most advantageous market must be accessible to, or by, the Group.

 

Fair value is measured using the assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their best economic interest.

 

The fair value measurement of a non-financial asset takes into account the market participant’s ability to generate economic benefits by using the asset at its highest and best use or by selling it to another market participant that would use the asset at its highest and best use.

 

In measuring fair value, the Group uses valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs.

 

(ab) Investments And Other Financial Assets

 

(i) Classification

 

The Group classifies its financial assets in the following measurement categories:

 

  those to be measured subsequently at fair value (either through OCI or through profit or loss), and
     
  those to be measured at amortised cost.

 

The classification depends on the entity’s business model for managing the financial assets and the contractual terms of the cash flows. For assets measured at fair value, gains and losses will either be recorded in profit or loss or OCI. For investments in equity instruments that are not held for trading, this will depend on whether the group has made an irrevocable election at the time of initial recognition to account for the equity investment at fair value through other comprehensive income (FVOCI). The Group reclassifies debt investments when and only when its business model for managing those assets changes.

 

(ii) Recognition and derecognition

 

Regular way purchases and sales of financial assets are recognised on trade date, being the date on which the Group commits to purchase or sell the asset. Financial assets are derecognised when the rights to receive cash flows from the financial assets have expired or have been transferred and the Group has transferred substantially all the risks and rewards of ownership.

 

(iii) Measurement

 

At initial recognition, the Group measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss (FVPL), transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at FVPL are expensed in profit or loss. Financial assets with embedded derivatives are considered in their entirety when determining whether their cash flows are solely payment of principal and interest.

 

F-20

 

NOTE 3. SIGNIFICANT ACCOUNTING POLICIES (Continued)

 

(ab) Investments And Other Financial Assets (continued)

 

Debt instruments

 

Subsequent measurement of debt instruments depends on the Group’s business model for managing the asset and the cash flow characteristics of the asset. There are three measurement categories into which the Group classifies its debt instruments:

 

  Amortised cost: Assets that are held for collection of contractual cash flows, where those cash flows represent solely payments of principal and interest, are measured at amortised cost. Interest income from these financial assets is included in finance income using the effective interest rate method. Any gain or loss arising on derecognition is recognised directly in profit or loss and presented in other gains/(losses) together with foreign exchange gains and losses. Impairment losses are presented as separate line item in the statement of profit or loss.

 

  FVOCI: Assets that are held for collection of contractual cash flows and for selling the financial assets, where the assets’ cash flows represent solely payments of principal and interest, are measured at FVOCI. Movements in the carrying amount are taken through OCI, except for the recognition of impairment gains or losses, interest income and foreign exchange gains and losses, which are recognised in profit or loss. When the financial asset is derecognised, the cumulative gain or loss previously recognised in OCI is reclassified from equity to profit or loss and recognized in other gains/(losses). Interest income from these financial assets is included in finance income using the effective interest rate method. Foreign exchange gains and losses are presented in other gains/(losses), and impairment expenses are presented as separate line item in the statement of profit or loss.

 

  FVPL: Assets that do not meet the criteria for amortised cost or FVOCI are measured at FVPL. A gain or loss on a debt investment that is subsequently measured at FVPL is recognised in profit or loss and presented net within other gains/(losses) in the period in which it arises.

 

Equity instruments

 

The Group subsequently measures all equity investments at fair value. Where the Group’s management has elected to present fair value gains and losses on equity investments in OCI, there is no subsequent reclassification of fair value gains and losses to profit or loss following the derecognition of the investment. Dividends from such investments continue to be recognised in profit or loss as other income when the Group’s right to receive payments is established.

 

Changes in the fair value of financial assets at FVPL are recognised in other gains/(losses) in the statement of profit or loss as applicable. Impairment losses (and reversal of impairment losses) on equity investments measured at FVOCI are not reported separately from other changes in fair value.

 

(iv) Impairment

 

The Group assesses on a forward-looking basis the expected credit losses associated with its debt instruments carried at amortised cost and FVOCI. The impairment methodology applied depends on whether there has been a significant increase in credit risk. For trade receivables, the Group applies the simplified approach permitted by IFRS 9, which requires expected lifetime losses to be recognised from initial recognition of the receivables, see note 11(c) for further details. The classification of financial assets depends on the nature and purpose of the financial assets and is determined at the time of initial recognition. Regular way purchases or sales of financial assets are recognized and derecognized on a trade date or settlement date basis for which financial assets were classified in the same way, respectively. Regular way purchases or sales are purchases or sales of financial assets that require delivery of assets within the time frame established by regulation or convention in the marketplace.

 

F-21

 

NOTE 3. SIGNIFICANT ACCOUNTING POLICIES (Continued)

 

(ac) New, Revised or Amending Accounting Standards and Interpretations

 

New standards and amendments to standards are effective for annual periods beginning after 1 January 2024 and earlier application is permitted; however, the Group has not early adopted them in preparing these Consolidated Financial Statements.

 

New or Amended Standard Forthcoming requirements   Title of the Standard  

Effective for Annual Periods

Beginning on or After

Lease Liability in Sale and Leaseback   Amendments to IFRS 16 Leases   January 1,2024
Classification of Liabilities as Current or Non-current   Amendments to IAS 1 Presentation of Financial Statements   January 1,2024
Supplier Finance Arrangements   Amendments to IAS 7 and IFRS 7   January 1,2025
Lack of Exchangeability   Amendments to IAS 21   January 1,2025
Sale or Contribution of Assets between an Investor and its Associate or Joint Venture   Amendments to IFRS 10 Consolidated Financial Statements and IAS 28 Investments in Associates and Joint Ventures   Available for optional adoption/effective date deferred indefinitely

 

The amendments listed above did not have any impact on the amounts recognised in prior periods and are not expected to significantly affect the current or future periods.

 

F-22

 

NOTE 3. SIGNIFICANT ACCOUNTING POLICIES (Continued)

 

(ad) Critical Accounting Judgments, Estimates and Assumptions

 

The preparation of the consolidated financial statements requires management to make judgments, estimates and assumptions that affect the reported amounts in the consolidated financial statements. Management continually evaluates its judgments and estimates in relation to assets, liabilities, contingent liabilities, revenue and expenses. Management bases its judgments, estimates and assumptions on historical experience and on other various factors, including expectations of future events, management believes to be reasonable under the circumstances. The resulting accounting judgments and estimates will seldom equal the related actual results. The judgments, estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

 

(i) Provision for impairment of receivables

 

The provision for impairment of receivables assessment requires a degree of estimation and judgment. The level of provision is assessed by taking into account the recent sales experience, the ageing of receivables, historical collection rates and specific knowledge of the individual debtor’s financial position. Refer to Note 11 for further details.

 

(ii) Estimation of useful lives of assets

 

The Group determines the estimated useful lives and related depreciation and amortization charges for its plant and equipment and finite life intangible assets. The useful lives could change significantly as a result of technical innovations or some other events. The depreciation and amortization charge will increase where the useful lives are less than previously estimated lives, or technically obsolete or non-strategic assets that have been abandoned or sold will be written off or written down. Please refer to Note 3(e) and 3(j) for further detail.

 

(iii) Income tax

 

The Group is subject to income taxes in the jurisdictions in which it operates. Significant judgment is required in determining the provision for income tax and in assessing whether deferred tax assets and certain deferred tax liabilities are recognized in the consolidated statement of financial position. Deferred tax assets, including those arising from unrecouped tax losses, capital losses and temporary differences, are recognized only where it is considered more likely than not that they will be recovered, which is dependent on the generation of sufficient future taxable profits. Assumptions about the generation of future taxable profits depend on management’s estimates of future cash flows. In addition, there are many transactions and calculations undertaken during the ordinary course of business for which the ultimate tax determination is uncertain. The Group recognizes liabilities for anticipated tax audit issues based on the Group’s current understanding of the tax law. Where the final tax outcome of these matters is different from the carrying amounts, such differences will impact the current and deferred tax provisions in the period in which such determination is made.

 

Judgements are also required about the application of income tax legislation. These judgements and assumptions are subject to risk and uncertainty, hence there is a possibility that changes in circumstances will alter expectations, which may impact the amount of deferred tax assets and deferred tax liabilities recognized in the statement of financial position and the amount of other tax losses and temporary differences not yet recognized. In such circumstances, some or all of the carrying amounts of recognized deferred tax assets and liabilities may require adjustments, resulting in a corresponding credit or charge to the consolidated statement of profit or loss and comprehensive income.

 

 (iii) Investment in an associate

 

The results and assets and liabilities of associates are incorporated in these financial statements using the equity method of accounting, except when the investment is classified as held for sale, in which case it is accounted for in accordance with IFRS 5.

 

(iv) Fair value estimate of warrant liability

 

Fair value estimation of warrant liability is included in note 3(n) and note 23 of the financial statements.

 

F-23

 

NOTE 3. SIGNIFICANT ACCOUNTING POLICIES (Continued)

 

(ad) Critical Accounting Judgments, Estimates and Assumptions (continued)

 

(v) Valuation of Inventory

 

Inventories are stated at the lower of cost or net realizable value, and the Group uses estimate to determine the net realizable value of inventory at the end of each reporting period.

 

The Group estimates the net realizable value of inventory for normal waste, obsolescence and unmarketable items at the end of reporting period and then writes down the cost of inventories to net realizable value. The net realizable value of the inventory is determined mainly based on assumptions of future demand within a specific time horizon.

 

(vi) Impairment of non-financial assets

 

The Group assesses impairment of all assets (including intangible assets) at each reporting date by evaluating conditions specific to the Group and to the particular asset that may lead to impairment. These include product, technology, economic and political environments and future product expectations. If an impairment trigger exists the recoverable amount of the asset is determined. Given the current uncertain economic environment management considered that the indicators of impairment were significant enough and as such these assets have been tested for impairment in this financial period. Refer to Note 3(h) for details regarding the method and assumptions used.

 

(vii) Fair value of convertible promissory notes

 

The fair value of convertible promissory notes are determined using valuation techniques including reference to other instruments that are substantially the same, discounted cash flow analysis and option pricing model. The inputs to these models are taken from observable markets where possible, but where this is not feasible, a degree of judgement is required in establishing fair values.

 

(viii) Fair value of derivative financial instruments

 

The fair values of derivative financial instruments that are not quoted in active markets are determined by using valuation techniques. Valuation techniques used include discounted cash flows analysis and models with built-in functions available in externally acquired financial analysis or risk management systems widely used by the industry such as option pricing models. To the extent practical, the models use observable data. In addition, valuation adjustments may be adopted if factors such as credit risk are not considered in the valuation models. Management judgement and estimates are required for the selection of appropriate valuation parameters, assumptions and modelling techniques.

 

F-24

 

NOTE 4. REVENUE AND SEGMENT INFORMATION

 

   Consolidated 
   December 31,
2023
US$
   December 31,
2022
US$
   December 31,
2021
US$
 
Sales of Halal products   373,676    364,405    
-
 
Development, sales and distribution of 3D autostereoscopic products and conversion equipment   
-
    
-
    2,974 
Sales of air-filter products   
-
    
-
    141,337 
Total Revenue   373,676    364,405    144,311 

 

Operating segments have been determined on the basis of reports reviewed by the executive director. The executive director is considered to be the chief operating decision maker of the Group. The executive director considers that the Group has assessed and allocated resources on this basis. The executive director considers that the Group has seven operating segments for the year ended December 31, 2023 (2021: six and 2022: seven), being (1) the sale of electronic glass, (2) sales of air-filter products, (3) sales of Halal products, (4) NFT, (5) corporate, (6) provision of consultancy and (7) provision of new energy products and solutions.

 

Disaggregation of Revenue

 

Timing of transfer of good or services

 

2023  At a point
in time
US$
   Total
US$
 
Sales of Halal products   373,676    373,676 

 

2022  At a point
in time
US$
   Total
US$
 
Sales of Halal products   364,405    364,405 

 

2021  At a point
in time
US$
   Total
US$
 
Development, sales and distribution of 3D autostereoscopic products and conversion equipment   2,974    2,974 
Sales of air- filter products   141,337    141,337 
Total Revenue   144,311    144,311 

 

F-25

 

NOTE 4. REVENUE AND SEGMENT INFORMATION (Continued)

 

Revenue by geographic location

 

The Group’s operations are located in Malaysia. The following table provides an analysis of the Group’s sales by geographical markets based on locations of customers:

 

   Consolidated 
   December 31,
2023
US$
   December 31,
2022
US$
   December 31,
2021
US$
 
Malaysia   373,676    364,405    58,380 
Hong Kong   
-
    
-
    2,974 
China   
-
    
-
    5,116 
USA   
-
    
-
    77,841 
    373,676    364,405    144,311 

 

Non-current assets by geographic location

 

   Consolidated 
   December 31,
2023
US$
   December 31,
2022
US$
   December 31,
2021
US$
 
USA   24,260,847    14,265,605    3,346,369 
Korea   1,437,333    2,222,075    3,010,558 
Malaysia   477,757    567,712    
-
 
Canada   268,458    483,082    
-
 
Australia   119    660    409,237 
Hong Kong   
-
    
-
    1,413,786 
China   
-
    
-
    7,683,844 
    26,444,514    17,539,134    15,863,794 

 

Major customers

 

For the year ended December 31, 2023, the Group has three individual customers (2022 and 2021: two and two respectively) with revenues comprising more than 10% of Group’s revenues and their respective receivables due from these customers are disclosed below:

 

   December 31, 2023   December 31, 2022   December 31, 2021 
   Percentage
of
Revenue
   Balance
due
US$
   Percentage
of
Revenue
   Balance
due
US$
   Percentage
of
Revenue
  

Balance due

US$

 
Customer A   
-
    
-
    
-
    
-
    53.93%   76,000 
Customer B   
-
    
-
    
-
    
-
    40.45%   57,000 
Customer C   12%   
-
    72.39%   234,956    
-
    
-
 
Customer D   70%   34,887    16.27%   58,286    
-
    
-
 
Customer E   18%   
-
    
-
    
-
    
-
    
-
 

 

F-26

 

NOTE 4. REVENUE AND SEGMENT INFORMATION (Continued)

 

Segment information for the reporting period is as follows:

 

   Consolidated 
For the year ended
31 December 2023
  Sales of
electronic
glass
US$
   Sales of
air- filter
products
US$
   Sales of
Halal
products
US$
   Provision of
consultancy
US$
   NFT
US$
   Energy
products and
solutions
US$
   Corporate
US$
   Total
US$
 
Revenue                                
Revenue from operating activities   
-
    
-
    373,676    
-
    
-
    
-
    
-
    373,676 
Interest income   
-
    
-
    3    1    
-
    
-
    -    4 
Loss on fair value changes in investment   
-
    
-
    
-
    
-
    
-
    
-
    1,677,178    1,677,178 
Other income   
-
    
-
    
-
    
-
    
-
    
-
    10,137    10,137 
Segment revenue   
-
    
-
    373,679    1    
-
    
-
    1,687,315    2,060,995 
                                         
Cost of sales   
-
    
-
    (261,566)   
-
    
-
    
-
    
-
    (261,566)
Employee benefit expenses   
-
    
-
    (159,252)   
-
    
-
    
-
    (358,295)   (517,547)
Depreciation and amortization expenses   
-
    (784,000)   (85,558)   (4,200)   (44,625)   
-
    (1,082)   (919,465)
Professional and consulting expenses   (18,000)   (268,800)   (7,289)   (462,790)   
-
    (22,500)   (463,364)   (1,242,743)
Travel and accommodation expenses   
-
    
-
    (1,784)   
-
    
-
    
-
    (4,148)   (5,932)
Other operating expenses   
-
    (148)   (64,279)   (139,030)   
-
    
-
    (88,351)   (291,808)
Finance costs   
-
    (121,995)   (32,684)   (2,530)   
-
    
-
    (261,413)   (418,622)
Share on losses of associates   
-
    
-
    
-
    
-
    
-
    
-
    (175,507)   (175,507)
Provision for inventory   
-
    
-
    (18,838)   
-
    (990,606)   
-
    
-
    (1,009,444)
Provision for bad debt   
-
    (67,605)   (655,305)   
-
    (41,407)   
-
    
-
    (764,317)
Provision for other receivables   
-
    (730,411)   (1,330,820)   (101,556)   
-
    
-
    (72,851)   (2,235,638)
Provision for other current assets   -    (1,313,920)   (278,223)   -    -    -    -    (1,592,143)
Provision for loan receivable   
-
    
-
    
-
    
-
    
-
    
-
    (6,902,000)   (6,902,000)
Provision for equipment deposits   (5,000,000)   
-
    
-
    
-
    
-
    
-
    
-
    (5,000,000)
Provision for associate   -    -    -    -    -    -    (545,128)   (545,128)
Provision for former companies   -    -    -    -    -    -    (217,639)   (217,639)
Provision for intangible assets   -    -    -    -    -    -    (722,784)   (722,784)
Loss on fair value change in warrant   
-
    
-
    
-
    
-
    
-
    
-
    2,396,291    2,396,291 
Exchange (loss)/gain   
-
    (2,450)   (419)   3,538    
-
    
-
    14,216    14,885 
Segment expenses   (5,018,000)   (3,289,329)   (2,896,017)   (706,568)   (1,076,638)   (22,500)   (7,402,055)   (20,411,107)
Segment operating (loss)/profit   (5,018,000)   (3,289,329)   (2,522,338)   (706,567)   (1,076,638)   (22,500)   (5,714,740)   (18,350,112)
                                         
Segment assets 2023   9,260,846    822,191    1,519,552    1,193,338    227,051    5,320    17,106,530    30,134,828 
Segment liabilities 2023   
-
    (618,149)   (58,863)   (77,702)   (365)   
-
    (12,776,570)   (13,531,649)

 

F-27

 

NOTE 4. REVENUE AND SEGMENT INFORMATION (Continued)

 

    Consolidated  
For the year ended 31
December 2022
  Sale of
electronic
glass
US$
    Sale of
air-filter
products
US$
    Sale of
Halal
products
US$
    Provision of
credit risk
analysis
US$
    Provision of
consultancy
US$
    NFT
US$
    Corporate
US$
    Total
US$
 
Revenue                                                
Revenue from operating activities    
-
     
-
      364,405      
-
     
-
     
-
     
-
      364,405  
Interest income    
-
     
-
      4       1       1      
-
      392,616       392,622  
Gain on disposal of investment in equity instrument    
-
     
-
     
-
     
-
     
-
     
-
      484,361       484,361  
Loss on fair value changes in investment    
-
     
-
     
-
     
-
     
-
     
-
      (202,363 )     (202,363 )
Other income    
-
     
-
     
-
     
-
      1,990      
-
     
-
      1,990  
Segment revenue    
-
     
-
      364,409       1       1,991      
-
      674,614       1,041,015  
                                                                 
Cost of sales    
-
     
-
      (475,546 )    
-
     
-
     
-
     
-
      (475,546 )
Employee benefit expenses     (83,688 )    
-
      (136,948 )     (74,039 )     (264,229 )     (97,636 )     (355,452 )     (1,011,992 )
Depreciation and amortization expenses     (280,521 )     (780,887 )     (131,702 )     (22,883 )     (14,849 )     (45,134 )     (97,165 )     (1,373,141 )
Professional and consulting expenses     (38,892 )     (127,921 )     (48,885 )     (7,839 )     (338,288 )     (108,817 )     (3,640,872 )     (4,311,514 )
Travel and accommodation expenses     (10,318 )    
-
      (94,274 )    
-
      (19 )    
-
      (5,915 )     (110,526 )
Other operating expenses     (21,656 )     (4,900 )     (122,825 )     3,995       (59,278 )     (65,628 )     (380,267 )     (650,559 )
Finance costs     (89,549 )     (26,420 )     (9,018 )    
-
      (12,202 )    
-
      (496,695 )     (633,884 )
Share on losses of associates    
-
     
-
     
-
      (223,354 )    
-
     
-
     
-
      (223,354 )
Gain on disposal of subsidiaries     (70,028 )    
-
     
-
     
-
      (529 )    
-
      (14,377 )     (84,934 )
Loss on deemed disposal of subsidiary    
-
     
-
     
-
     
-
     
-
     
-
      (13,242 )     (13,242 )
Provision for inventory    
-
     
-
      (66,542 )    
-
     
-
      (709,427 )    
-
      (775,969 )
Provision for bad debt    
-
      (70,769 )    
-
     
-
     
-
     
-
     
-
      (70,769 )
Written off of property, plant and equipment    
-
     
-
     
-
     
-
     
-
      (53,895 )    
-
      (53,895 )
Loss on fair value change in warrant    
-
     
-
     
-
     
-
     
-
     
-
      (2,408,271 )     (2,408,271 )
Exchange gain/(loss)     266       4,248       10,711       (1 )     (7,296 )    
-
      247,114       255,042  
Segment expenses     (594,386 )     (1,006,649 )     (1,075,029 )     (324,121 )     (696,690 )     (1,080,537 )     (7,165,142 )     (11,942,554 )
Segment operating (loss)/profit     (594,386 )     (1,006,649 )     (710,620 )     (324,120 )     (694,699 )     (1,080,537 )     (6,490,528 )     (10,901,539 )
                                                                 
Segment assets 2022     14,124,658       3,753,922       3,522,922      
-
     
-
      344,841       17,072,859       38,819,202  
Segment liabilities 2022     (947 )     (346,144 )     (1,292 )    
-
     
-
      (359 )     (9,553,373 )     (9,902,115 )

 

F-28

 

NOTE 4. REVENUE AND SEGMENT INFORMATION (Continued)

 

   Consolidated 
For the year ended 31 December 2021  Development,
sale and
distribution
of 3D
displays,
conversion
equipment,
software
and others
US$
  

Sales of
electronic
glass

US$

  

Sales of
air- filter
products

US$

  

Provision of
credit
risk
analysis

US$

  

NFT

US$

  

Corporate

US$

  

Total

US$

 
Revenue                            
Revenue from operating activities   2,974    
-
    141,337    
-
    
-
    
-
    144,311 
Interest income   14,092    
-
    
-
    4    
-
    
-
    14,096 
Fair value change in derivative financial instruments   
-
    
-
    
-
    
-
    
-
    (629,564)   (629,564)
Other income   
-
    
-
    
-
    
-
    29,690    221,254    250,944 
Segment revenue   17,066    
-
    141,337    4    29,690    (408,310)   (220,213)
                                    
Cost of sales   (2,033)   (4,972)   (104,675)   
-
    
-
    
-
    (111,680)
Employee benefit expenses   (161,233)   (78,973)   
-
    (8,164)   (411,619)   (546,076)   (1,206,065)
Depreciation and amortization expenses   (81,697)   (682)   (784,000)   
-
    (19,412)   (105,721)   (991,512)
Professional and consulting expenses   (4,336)   (6,555)   (27,561)   (229,941)   (881,055)   (626,138)   (1,775,586)
Travel and accommodation expenses   (5,963)   (49,178)   
-
    (7,946)   (687)   (4,517)   (68,291)
Other operating expenses   (454,467)   (27,259)   (7,066)   (19,658)   (205,056)   520,068    (193,438)
Reversal of allowance for inventory obsolescence   7,054    
-
    
-
    
-
    
-
    
-
    7,054 
Provision for bad debt   
-
    
-
    (10,753)   
-
    
-
    
-
    (10,753)
Gain/ (loss) on disposal of subsidiaries   3,376,341    
-
    
-
    
-
    
-
    (2,402,487)   973,854 
Finance costs   (12,527)   (45,172)   (2,249)   
-
    24,911    (1,460,251)   (1,495,288)
Segment expenses   2,661,139    (212,791)   (936,304)   (265,709)   (1,492,918)   (4,625,122)   (4,871,705)
Segment operating profit/(loss)   2,678,205    (212,791)   (794,967)   (265,705)   (1,463,228)   (5,033,432)   (5,091,918)
                                    
Segment assets 2021   
-
    11,489,919    4,712,512    1,504,925    563,757    154,645    18,425,757 
Segment liabilities 2021   
-
    (1,242,657)   (327,374)   (578,578)   (205,834)   (5,608,562)   (7,963,006)

 

F-29

 

NOTE 5. OTHER INCOME 

 

   Consolidated 
   December 31,
2023
US$
   December 31,
2022
US$
   December 31,
2021
US$
 
Waive of debts   
-
    
-
    232,249 
Underwriting fee from investment   
-
    
-
    18,682 
Sundry income   10,137    1,990    13 
    10,137    1,990    250,944 

 

NOTE 6. FINANCE COSTS

 

   Consolidated 
   December 31,
2023
US$
   December 31,
2022
US$
   December 31,
2021
US$
 
Bank overdraft and borrowing interest   1,170    18,186    
-
 
Interest on revolving loan   
-
    
-
    12,525 
Interest on operating lease liability   
-
    91,629    66,373 
Interest on convertible promissory notes (Note 20)   417,452    524,069    1,416,390 
    418,622    633,884    1,495,288 

 

F-30

 

NOTE 7. LOSS BEFORE INCOME TAX

 

   Consolidated 
   December 31,
2023
US$
   December 31,
2022
US$
   December 31,
2021
US$
 
Employee benefit expenses:            
- Wages and salaries   279,690    542,385    635,997 
- Staff welfare   6,032    9,882    
-
 
- Defined contribution superannuation plan expenses   3,425    6,638    23,992 
    289,147    558,905    659,989 
- Executive directors’ remuneration   228,400    398,300    429,221 
- Non-executive directors’ remuneration   
-
    54,787    116,855 
    228,400    453,087    546,076 
Total employee benefit expenses   517,547    1,011,992    1,206,065 
                
Depreciation and amortization of non-current assets:               
- Machinery   784,000    784,000    784,000 
- Office furniture and equipment   5,283    2,065    88,287 
- Leasehold improvements   
-
    14,909    14,182 
- Intangible assets   130,182    195,041    
-
 
- Right of use assets   
-
    377,126    105,043 
Total depreciation and amortization   919,465    1,373,141    991,512 
                
Other Expenses:               
Allowances/(recovery) for bad debts   764,314    70,769    (10,753)
Rental expense on operating lease   59,447    56,153    86,989 
Provision for inventory   1,009,444    775,969    
-
 
Provision for equipment deposits   5,000,000    
-
    
-
 
Provision for other receivable   2,235,638    
-
    
-
 
Provision for loan receivable   6,902,000    
-
    
-
 
Provision for other current assets   1,592,143    
-
    
-
 
Provision for due from associate   545,128    
-
    
-
 
Provision for due from former companies   217,639    
-
    
-
 
Provision for intangible assets   722,784    
-
    
-
 
Selling costs   1,652    47,415    
-
 
Other operating expenses   173,393    331,376    282,849 
Reversal of allowance for inventory obsolescence   
-
    
-
    (7,054)
Plant and equipment written off   
-
    53,895    
-
 
Other expenses   57,319    156,893    127,982 
    19,280,901    1,492,470    480,013 
Other gains:               
Gain on deemed disposal of subsidiaries   
-
    13,242    
-
 
Loss/(gain) on disposal of subsidiaries   
-
    84,934    (973,854)
Exchange loss, net   (14,885)   (196,320)   (282,876)
Total other gains   (14,885)   (98,144)   (1,256,730)
                
Audit and review of financial statements:               
- audit of the Group in USA   130,800    183,271    138,452 
- statutory audit of the Group in Australia   
-
    1,651    
-
 
- statutory audit of the subsidiaries   
-
    
-
    8,162 
- review for other reporting purposes   
-
    35,225    65,111 
Total audit and review fees   130,800    220,147    211,725 

 

F-31

 

NOTE 8. INCOME TAX EXPENSE

 

   Consolidated 
   December 31, 2023
US$
   December 31, 2022
US$
   December 31, 2021
US$
 
Income tax expenses   
        -
    
      -
    
     -
 
Deferred tax expenses   
-
    
-
    
-
 
Income tax expenses   
-
    
-
    
-
 

 

(a) The prima-facie tax on loss before income tax is reconciled to the income tax expense as follows:

 

   Consolidated 
   December 31,
2023
US$
   December 31,
2022
US$
   December 31,
2021
US$
 
Numerical reconciliation of income tax expense to prima facie tax payable            
Loss before income tax   (18,350,112)   (10,901,539)   (5,091,918)
                
Income tax expenses on loss before income tax at 30%   (5,505,034)   (3,270,462)   (1,527,576)
Difference in overseas tax rates and adjustment for non-taxable items   3,132,395    (863,286)   (291,579)
Less the tax effect of:               
Tax losses and temporary differences for the year for which no deferred tax is recognized   2,372,639    4,133,748    1,819,155 
Income tax expenses   
-
    
-
    
-
 

 

The tax losses carried forward for the Group at the December 31, 2023 was $4,183,600 (2022: $3,115,968, 2021: $3,115,968).

 

(b) Deferred tax liabilities arising from temporary differences and unused tax losses can be summarized as follows:

 

    Consolidated  
    December 31,
2023
US$
    December 31,
2022
US$
 
Balance brought forward    
              -
                   -  
Exchange difference     -       -  
Total     -       -  

 

(c) Unrecognised deferred tax assets

 

   Consolidated 
   2023   2022 
   US$   US$ 
Deferred tax assets have not been recognised in respect of the following items:        
i)  Temporary differences at 27.5% (2022: 27.5%)   
-
    309,212 
ii) Tax losses at 25.5% (2022: 25.5%)   
-
    8,547,095 
    
-
    8,856,307 

 

Tax losses do not expire under current tax legislation. Deferred tax assets have not been recognised in respect of these losses because it is not probable that future taxable profit will be available against which the Group can utilise the benefits from the deferred tax assets.

 

(d) There was no income tax payable in the consolidated statements of financial position in years 2023 and 2022.

 

F-32

 

NOTE 9. DIVIDENDS

 

No dividends were declared and paid during the financial year ended December 31, 2023 (2022: Nil).

 

NOTE 10. LOSS PER SHARE

 

    Consolidated  
    December 31,
2023
    December 31,
2022
    December 31,
2021
 
Loss after income tax attributable to shareholders   US$

(16,733,789

)   US$ (9,968,493 )   US$ (4,726,284 )
Number of ordinary shares*     3,410,434       2,052,359       932,826  
Weighted average number of ordinary shares on issue*     2,223,960       1,573,059       1,599,769  
Basic and diluted loss per share*   US$

(4.91

)   US$ (4.86 )   US$ (5.07 )

 

* Adjusted for post-share consolidation of 10 shares for 1 share on October 16, 2023

 

NOTE 11. TRADE RECEIVABLES, OTHER RECEIVABLES AND OTHER CURRENT ASSETS

 

(a) Trade receivables

 

   Consolidated 
   December 31,
2023
US$
   December 31,
2022
US$
 
Trade receivables   791,496    649,168 
Less: Allowances for doubtful debts   (791,496)   (68,586)
    
-
    580,582 

 

The table below show movement of allowance for doubtful debts:

 

   Consolidated 
   December 31,
2023
US$
   December 31,
2022
US$
 
Movement of allowance for doubtful debts        
As of January 1   68,586    
-
 
Movement during the year   722,910    68,586 
As at December 31   791,496    68,586 

 

(i) Ageing Analysis

 

The ageing analysis of trade receivables is as follows:

 

   Consolidated 
   December 31,
2023
US$
   December 31,
2022
US$
 
Current (not past due)   14,109    96,239 
Overdue: less than 1 month   11,605    232,881 
Overdue: 1 month - 3 months   43,756    
-
 
Overdue: 3 months- 12  months   256,715    4,173 
Overdue: over 12 months   465,311    315,875 
    791,496    649,168 

 

(ii) Trade receivables which are past due but not impaired

 

Included in the Group’s trade receivable balances are debtors with an aggregate carrying amount of US$777,387 (2022: US$552,929) which are past due at the end of the reporting period for which the Group has made provision for impairment loss of US$753,418 (2022: US$68,586).

 

The carrying value of trade receivables is considered reasonable approximation of fair value to the short-term nature of the balance.

 

The maximum exposure to credit risk at the reporting date is the fair value of each class of receivables in the consolidated financial statements. Refer to Note 28(e) for further details of credit risk management.

 

F-33

 

NOTE 11. TRADE RECEIVABLES, OTHER RECEIVABLES AND OTHER CURRENT ASSETS (continued)

 

(b) Other receivables

 

   Consolidated 
   December 31,
2023
US$
   December 31,
2022
US$
 
Other receivables   888,901    2,039,517 
Provision   (871,547)   
-
 
    17,354    2,039,517 

 

The other receivables mainly relate to advances for purchase of halal products and inner layer film.

 

(c) Other current assets

 

   Consolidated 
   December 31,
2023
US$
   December 31,
2022
US$
 
Trade deposits   313,920    343,500 
Other deposits   1,278,438    1,310,615 
Prepayments   
-
    41,406 
VAT receivable   
-
    186 
Provision for other current assets   (1,592,143)   
-
 
    215    1,695,707 

 

The other deposits mainly relate to the purchase of air filter designs and products.

 

NOTE 12. INVENTORIES

 

Inventories consist of the following:

 

   Consolidated 
   December 31,
2023
US$
   December 31,
2022
US$
 
Finished goods – Halal products   98,304    350,252 
Finished goods – displays and other products   4,600,000    4,600,000 
Provision for inventories   (1,701,340)   (755,175)
    2,996,964    4,195,077 

 

NOTE 13. LOAN RECEIVABLE

 

   Consolidated 
   December 31,
2023
US$
   December 31,
2022
US$
 
Loan receivable   6,800,000    6,800,000 
Loan interest receivable   102,000    102,000 
Provision for loan receivable   (6,902,000)   
-
 
    
-
    6,902,000 

 

On September 15, 2022 the Company completed the sale of 100% of its equity interest in eGlass Technologies Ltd (“eGlass”) to Capital Stone Holdings Limited (“Purchaser”) for US$6.8 million (“Consideration”). The Purchaser agreed to pay the Consideration by issuing to the Company a debt instrument (“Loan”), which bears interest of 5% per annum, repayable in 2 years and secured against the shares of eGlass. The Purchaser has indicated an intention to list eGlass on the Australia Securities Exchange (“ASX”) by July 2024. Pursuant to the sale purchase agreement between the parties, the Purchaser has the right to pay the Loan by giving the Company the number of shares in eGlass calculated by dividing the amount of outstanding loan by 10% discount to the then 5-day volume weighted average closing price (“VWAP”); provided that such price may not be greater than the 120% of the IPO Price. Alternatively, the Company has the right to have the Purchaser repay the Loan by transferring to the Company the number of shares in eGlass calculated by dividing the amount of outstanding loan by the IPO Price. Any outstanding loan amount that could not be fully repaid by the eGlass shares would be settled by cash.

 

F-34

 

NOTE 14. INVESTMENT IN AN ASSOCIATE

 

   Consolidated 
   December 31,
2023
US$
   December 31,
2022
US$
 
Interest in associate   
-
    175,507 
Due from an associate company, net   545,128    476,815 
Provision for associate   (545,128)   
-
 
    
-
    652,322 

 

The following information contains only the particulars of a material associate, which is unlisted corporate entity whose quoted market price is not available:

 

Name of Associates   Country of
Incorporation
  Principal
Activities
  Paid Up Capital   Percentage Owned
                2023   2022
Greifenberg Digital Limited   Canada   Investment holding   US$ 2,087,000  

23.96% (Direct)

 

23.96% (Direct)

 

Summarised financial information in respect of the Group’s associate company is set out below. The summarised financial information below represents amounts in associate’ financial statements prepared in accordance with IFRS Accounting Standard.

 

As at 31 December  2023   2022 
   US$   US$ 
Current assets   183,761    85,420 
Non-current assets   1,472,254    1,656,298 
Current liabilities   (1,342,231)   (983,596)
Net assets   313,784    758,122 
           
Group share of net assets   23.96%   23.96%
Year ended 31 December   75,183    181,646 
           
Revenues, net   370,000    90,000 
Loss after tax   (444,347)   (865,548)

 

Other than as disclosed in Note 29(b), the non-trade amounts due from associate is unsecured, 5% interest bearing and repayable on demand.

 

NOTE 15. AMOUNTS DUE FROM THE FORMER GROUP COMPANIES

 

   Consolidated 
   December 31,
2023
US$
   December 31,
2022
US$
 
Amounts due from former group companies - net   217,639    5,339,834 
Provision for due from former group companies   (217,639)   
-
 
    
-
    5,339,834 

 

As at December 31, 2022, the non-trade amounts due from former group companies include an amount of about US$5.5 million relating to convertible bonds issued by the Company, which are non-interest bearing, unsecured and payable on the maturity date of the convertible bonds, details are set out in Note 20(a). In 2023, these non-trade amount was settled through the conversion of US$600,000 to 240,000 shares in the Company and the remaining amount of about US$4.9 million was settled through the conversion of shares in eGlass Technologies Limited.

 

The other amount due to former group companies are unsecured, interest at 5% per annum and repayable on demand. During the year, the interest charged by former group companies amounted to US$261,111 (2022: US$2,185).

 

F-35

 

NOTE 16. PLANT AND EQUIPMENT

 

   Consolidated 
  

Leasehold
Improvements

US$

  

Fixtures and
Equipment

US$

   Machinery
US$
   Total
US$
 
As of December 31, 2021                
Cost   31,679    166,086    5,569,428    5,767,193 
Accumulated depreciation   (14,183)   (143,053)   (910,664)   (1,067,900)
Carrying amount as of December 31, 2021   17,496    23,033    4,658,764    4,699,293 
                     
Year ended December 31, 2022                    
Opening carrying amount   17,496    23,033    4,658,764    4,699,293 
Additions   
-
    78,428    
-
    78,428 
Disposals   
-
    (36,028)   (1,653,431)   (1,689,459)
Write-off   (2,587)   (51,308)   
-
    (53,895)
Depreciation expenses   (14,909)   (2,065)   (784,000)   (800,974)
Closing carrying amount as of December 31, 2022   
-
    12,060    2,221,333    2,233,393 
                     
As of December 31, 2022                    
Cost   29,092    157,178    3,915,997    4,102,267 
Accumulated depreciation   (29,092)   (145,118)   (1,694,664)   (1,868,874)
Close carrying amount as of December 31, 2022   
-
    12,060    2,221,333    2,233,393 
                     
Year ended December 31, 2023                    
Opening carrying amount   -    12,060    2,221,333    2,233,393 
Additions   
-
    350    
-
    350 
Depreciation expenses   -    (5,283)   (784,000)   (789,283)
Closing carrying amount as of December 31, 2023   -    7,127    1,437,333    1,444,460 
                     
As of December 31, 2023                    
Cost   
-
    157,528    3,915,997    4,073,525 
Accumulated depreciation   
-
    (150,401)   (2,478,664)   (2,629,065)
Carrying amount as of December 31, 2023   
-
    7,127    1,437,333    1,444,460 

 

NOTE 17. EQUIPMENT DEPOSIT

 

   Consolidated 
   December 31,
2023
US$
   December 31,
2022
US$
 
Carrying value as at January 1   14,260,847    8,350,000 
Addition during the year   15,000,000    10,910,847 
Disposal to former group companies   
-
    (5,000,000)
Provision during the year   (5,000,000)   
-
 
Carrying value as at end of year   24,260,847    14,260,847 

 

The equipment deposit is for the lamination equipment for the manufacturing of smartglass. During the year, the Company paid a further deposit of $15 million to SWIS Co., Limited for the purchase of 3 additional lines for its planned operation and made a provision of $5 million for the lamination line deposit paid in 2021.

 

F-36

 

NOTE 18. INTANGIBLE ASSETS

 

   Consolidated 
   Technologies and Knowhow
US$
   Patents and Trademark
US$
   Software and License
US$
  

Goodwill

US$

   Total
US$
 
Cost                    
As of January 1, 2022   6,213,627    182,340    375,324    
-
    6,771,291 
Additions   1,115,378    
-
    374,786    
-
    1,490,164 
Disposal   (1,868,998)   
-
    
-
    
-
    (1,868,998)
Write-off   (4,793,340)   (182,340)   (375,324)   
-
    (5,351,004)
As of December 31, 2022   666,667    
-
    374,786    
-
    1,041,453 
                          
As of January 1, 2023   666,667    
-
    374,786    
-
    1,041,453 
Additions   
-
    
-
    
-
    722,784    722,784 
Provision   
-
    
-
    
-
    (722,784)   (722,784)
As of December 31, 2023   666,667    
-
    374,786    
-
    1,041,453 
                          
Accumulated Amortization and Impairment Losses                         
As of January 1, 2022   (4,793,340)   (182,340)   (375,324)   
-
    (5,351,004)
Amortisation   (150,753)   
-
    (44,288)   
-
    (195,041)
Disposal   22,977    
-
    
-
    
-
    22,977 
Write-off   4,793,340    182,340    375,324    
-
    5,351,004 
December 31, 2022   (127,776)   
-
    (44,288)   
-
    (172,064)
                          
As of January 1, 2023   (127,776)   
-
    (44,288)   
-
    (172,064)
Amortisation   (83,333)   
-
    (46,849)   
-
    (130,182)
As of December 31, 2023   (211,109)   
-
    (91,137)   
-
    (302,246)
                          
Carrying Amount                         
As of December 31, 2023   455,558    
-
    283,649    
-
    739,207 
As of December 31, 2022   538,889    
-
    330,498    
-
    869,387 

 

F-37

 

NOTE 19. TRADE AND OTHER PAYABLES

 

   Consolidated 
   December 31,
2023
US$
   December 31,
2022
US$
 
Trade payables   97,221    98,515 
Other payables   301,093    57,077 
Amount due to directors (i)   98,465    275,849 
Accruals   429,890    267,052 
    926,669    698,493 

 

(i) The amount due to directors are non-trade in nature, unsecured, non-interest bearing and repayable on demand.

 

NOTE 20. CONVERTIBLE PROMISSORY NOTES

 

   Consolidated 
   December 31,
2023
US$
   December 31,
2022
US$
 
Face value of convertible promissory notes issued from July to December 2022 (note i)   5,502,927    5,502,927 
Face value of convertible promissory note issued in November 2023 (note ii)   15,000,000    
-
 
Debt discount to other reserves   (2,544,840)   
-
 

Derivatives embedded in the convertible promissory note issued (Note 22)

   (2,038,600)   (589,600)
Liability component on initial recognition   15,919,487    4,913,327 
Converted to shares in the Company   (600,000)   
-
 
Redeemed through the conversion to eGlass shares   (4,902,927)   
-
 
Interest accrued   727,440    204,846 
Carrying value as at end of year   11,144,000    5,118,173 

 

Note (i)

 

From July to December 2022, the Company issued a total of approximately US$5.5 million convertible notes (“CPNote(s)”). The CPNotes are interest free, unsecured and convertible into shares of eGlass Technologies Ltd. (“eGlass”), a former subsidiary company of the Company, on the date eGlass receives notice from Australia Securities Exchange (“ASX”) that it will be admitted to the official list of ASX, at a conversion price equal to 25% discount to the IPO Price.

 

However, if by the first anniversary of the date of the issuance of the CPNote, eGlass has not received notice from ASX that it will be admitted to the official list of ASX, all CPNotes, according to the time of the one year anniversary, will then as appropriate, convert to shares of the Company based on then 30-day VWAP multiplied by 90%.

 

In addition, each noteholder shall receive warrants (“Warrant”) equal to the amount of the CPNote to subscribe for one share in eGlass at the IPO Price for a period of one year after the IPO, provided that eGlass is listed on the ASX. The Warrants are assignable and transferable prior to the IPO. If eGlass is not listed on the ASX, the Warrants will automatically expire.

 

In November and December 2023, all of the CPNotes were converted into eGlass shares, except for US$600,000 of CPNotes which were converted into 240,000 shares in the Company at a conversion price of US$2.50 per share.

 

Note (ii)

 

In November 2023, the Company issued a US$15 million convertible promissory note (“Note”) to Nextglass Solutions, Inc. The Note is redeemable in 2 years and has an interest rate of 12% per annum. The holder of the Note has the right to convert the principal amount to shares in the Company at a fixed conversion price of US$1.42 per share, subject to adjustment, over the term of the Note. The holder of the Note cannot convert the shares in the Company if such conversion would take the noteholder over 19.99% shareholding in the Company. At the date of this report, there was no conversion of the Note.

 

F-38

 

NOTE 20. CONVERTIBLE PROMISSORY NOTES (Continued)

 

Convertible promissory notes converted to shares during the year

 

   Consolidated 
   December 31,
2023
US$
   December 31,
2022
US$
 
Carrying value as at January 1   5,118,173    3,083,223 
Interest accrued at effective interest rate   384,754    2,761,872 
Shares issued for interest payment   
-
    (41,591)
Shares issued on conversion of convertible promissory note   (600,000)   (3,444,872)
Redemption of convertible promissory note   (4,902,927)   
-
 
Carrying value as at December 31   
-
    - 

 

In, 2022, the Convertible Promissory Notes converted into shares of the Company are as follows:

 

(a) On January 20, 2020, the Company entered into a Convertible Promissory Note Purchase Agreement the (“CN Agreement”), with an independent third party (“Noteholder”). Pursuant to CN Agreement, the Noteholder purchased from the Company a 10% convertible promissory note (the “Promissory Note”) in the principal amount of HK$14 million (equivalent to approximately US$1.8 million) maturing in two (2) years from the date of the agreement. The Noteholder has the right to convert the principal amount to shares in the Company at a fixed conversion price of US$5.00, subject to adjustment, per share over the term of the Promissory Note.

 

In October 2020, the Group settled the interest accrued of $174,811 by issuing 46,741 shares to the Noteholder.

 

On January 19, 2022, the Noteholder converted the Promissory Note and accrued interest to a total of 664,871 shares in the Company.

  

(b) On August 6, 2020, the Company entered into a second Convertible Promissory Note Agreement (“the Second CN Agreement”) with a third party (“Second Noteholder”). Pursuant to the Second CN Agreement, the holder invested US$1,650,000 under a convertible note (the “Second Note”) without interest, maturing in two years from the date of the Second Note. The Second Noteholder or the Company has the right to convert the principal into ordinary shares of the Company at a conversion price of US$3.25 per share over the term of the Second Note. The conversion price is subject to downward adjustment and has a floor price of US$1.50 if the Company sells ordinary shares below the conversion price within 12 months after the date of the Second Note. The Second Note cannot be prepaid. The Second Noteholder agreed to waive piggyback registration rights.

 

The conversion feature in convertible promissory notes were derivative liabilities based on the fact the conversion into shares could result in a variable number of shares to be issued.

 

On April 13, 2022 the Second Noteholder converted the Second CN Agreement to a total of 507,692 shares in the Company.

 

In 2023, the convertible promissory notes converted into shares of the Company are as follows:

 

As detailed in this Note (i) above, all the convertible notes issued from July to December 2022 totaling about US$5.5 million were converted into eGlass shares, except for US$600,000 of CPNotes which were converted into 240,000 shares in the Company at a conversion price of US$2.50 per share.

 

F-39

 

NOTE 21. FINANCIAL ASSETS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME

 

   Consolidated 
  

December 31,
2023

US$

  

December 31,
2022

US$

 
Investment in equity instrument designated at FVOCI          
As at January 1   
           -
    383,619 
Change in fair value through other comprehensive income   
-
    (259,156)
Disposal of investment in listed shares   
-
    (124,463)
As at December 31   
-
    
-
 

 

On February 25, 2021, the Group completed the underwriting in Oakridge International Limited (“Oakridge”), a company listed on the Australian Securities Exchange, for 500 million shares at a subscription price of A$0.001 per share for a total subscription amount of A$500,000.

 

This investment in equity instrument was not held for trading. Instead, they were held for medium to long-term strategic purposes. Accordingly, the directors of the Company elected to designate this investment in equity instrument as at Fair Value Through Other Comprehensive Income (FVOCI) as they believe that recognising short-term fluctuations in this investment’s fair value in profit or loss would not be consistent with the Group’s strategy of holding this investment for long-term purposes and realising their performance potential in the long run.

 

In 2022, the Company disposed of the investment in Oakridge for A$275,000 (US$240,612) and realised a loss of A$225,000 (US$202,363).

 

NOTE 22. DERIVATIVE FINANCIAL INSTRUMENTS

 

   Consolidated 
   December 31,
2023
US$
   December 31,
2022
US$
 
Derivative financial liabilities:          
Carrying value as at beginning of year   1,677,178    1,571,939 
Derivative redeemed on conversion of promissory notes   (1,677,178)   (1,571,939)

Derivatives embedded in the convertible promissory note issued (Note 20(a))

   1,449,000    589,600 
Fair value change in derivative financial instruments during the year   
-
    1,087,578 
Carrying value as at end of year   1,449,000    1,677,178 

 

In the prior year from July to December 2022, the Company entered into a number of Subscription Agreements (“Subscription Agreements”) for US$5.5 million (or about US$8,125,094) where each Subscriber will subscribe to a convertible note (“Note”). The Note is interest free, unsecured and convertible into shares of eGlass Technologies Ltd. (“eGlass”), a then subsidiary of the Company, on the date eGlass receives notice from the Australian Stock Exchange (“ASX”) that it will be admitted to the official list of ASX, at a conversion price equal to 25% discount to the IPO Price. However, if by the first anniversary of the date of the Agreement, eGlass has not received notice from ASX that it will be admitted to the official list of ASX, all Notes will convert to shares of the Company based on then 30-day VWAP multiplied by 90%. In November 2023, one note holder converted its US$600,000 Note into 240,000 shares in the Company and all the remaining noteholders holding US$4,902,927 in Notes were redeemed as these noteholders converted their Notes to eGlass shares. Accordingly, the underlying derivates were released.

 

As at December 31, 2021, the derivatives related to two convertible promissory notes (“CN Notes”) entered into during 2020 (details are set out in Note 20) were revalued using the weighted average assumptions: volatility 90.8% and 72.80%, the weighted expected term of two years, a discount rate of 3.51% and a dividend yield of 0%. In 2022 these CN Notes were converted, and the underlying derivatives were released.

 

F-40

 

NOTE 23. WARRANT LIABILITIES

 

   Consolidated 
   December 31,
2023
US$
   December 31,
2022
US$
 
           
Warrant liabilities   11,980    2,408,271 

 

On January 3, 2022, the Company entered into convertible note purchase agreements raising a total of US$10 million by the issuance of US$10 million convertible notes (“Note”). Each noteholder received a warrant representing 80% of the amount of the Note, raising an additional US$8 million if all the warrants are exercised. The warrants are for a term of 2 years from the date of the convertible notes and can be exercised at US$37.40 for each share (post share consolidation adjusted). Under the warrant agreement, the warrant holder cannot exercise the warrant to subscribe for shares in the Company if such exercise would take the warrant holder over 4.99% shareholding in the Company. In January 2024, none of these warrants were exercised and all these warrants expired.

 

On August 2, 2022, the Company entered into private placing agreements raising a total US$3.2 million by the issuance of 253,968 shares (post share consolidation adjusted) in the Company at a price of US$12.60 per share (post share consolidation adjusted). In addition, each investor received a warrant representing 100% of the subscription amount, raising an additional US$3.2 million if all the warrants are exercised. The warrants are for a term of 2 years from the date of the Agreement and can be exercised at US$12.60 for each share (post share consolidation adjusted). Under the warrant agreement, the warrant holder cannot exercise the warrant to subscribe for shares in the Company if such exercise would take the warrant holder over 4.99% shareholding in the Company. At the date of this report none of the warrants have been exercised.

 

F-41

 

NOTE 24. BUSINESS COMBINATIONS

 

(a) Disposal of subsidiaries

 

In 2022, the Group disposed eGlass Technologies Ltd, Smartglass Limited and Smart (Zhenjiang) Intelligent Technologies Limited which realized a loss on disposal of US$70,028. In addition the Group disposed a number of subsidiaries due to a reorganization of the group structure which realized a loss of US$14,906. In 2021, the Group disposed 6 subsidiaries and realized a gain of US$973,854. The detail of the net gain / (loss) on the disposals during the year are set out below:

 

   Consolidated 
   2023   2022   2021 
   US$   US$   US$ 
Total disposal consideration   
       -
    6,800,000    402 
                
Carrying amount of net asset sold (note(i) below)   
-
    (6,884,934)   (202,442)
Loss on sales before income tax and reclassification of foreign currency translation reserve   
-
    (84,934)   (202,040)
Reclassification of foreign currency transaction reserve   
-
    
-
    
-
 
Non-controlling interest   
-
    
-
    1,175,894 
(Loss)/gain on disposal after income tax   
-
    (84,934)   973,854 

 

(i) Net assets disposed of:

 

   Consolidated 
   2023   2022   2021 
   US$   US$   US$ 
Cash and bank balances   
      -
    3,732,847    24,605 
Plant and equipment   
-
    1,689,459    123,175 
Right of use assets   
-
    1,126,111    
-
 
Inventories   
-
    
-
    155,986 
Trade and others receivable   
-
    16,548    515,132 
Other deposit and prepayment   
-
    5,146,750    582,750 
Amount due from former fellow subsidiaries   
-
    192,532    
-
 
Trade and other liabilities   
-
    (387,130)   (1,166,442)
Amount due to a related company   
-
    
-
    (3,700)
Amount due to holding company   
-
    (3,691,178)   
-
 
Lease liabilities   
-
    (215,559)   
-
 
Lease liabilities - long term   
-
    (725,446)   
-
 
Deferred tax liabilities   
-
    
-
    (29,064)
    
-
    6,884,934    202,442 

 

F-42

 

NOTE 24. BUSINESS COMBINATIONS (Continued)

 

(a) Disposal of subsidiaries (continued)

 

(ii) Net cash flows from disposal of subsidiaries

 

   Consolidated 
   2023   2022   2021 
   US$   US$   US$ 
             
Consideration received, satisfied in cash   
-
    6,800,000    402 
Cash and cash equivalents of subsidiaries disposed of (included cash at bank and bank overdraft)   
-
    (3,732,847)   (24,605)
    
-
    3,067,153    (24,203)

 

(b) Deemed disposal of subsidiaries

 

In 2022, the Group’s equity investment in Greifenberg Digital Limited and its subsidiaries (“Greifenberg Group”) decreased from 40.75% at December 31, 2021 to 23.96% as at December 31, 2022. The Company did not consider the Greifenberg Group to be under the control of the Company as it no longer exercised control in the financial management and the control of the Greifenberg Board. Accordingly, the Group deconsolidated this subsidiary once the Company’s equity interests fell below 30% and accounted for the Greifenberg Group as an Investment in an Associate for accounting purposes. Refer to Note 14.

 

The details of the net loss on the deemed disposal of the Greifenberg Group are set out below:

 

   Consolidated 
   2023   2022   2021 
   US$   US$   US$ 
             
Total deemed disposal consideration   
-
    390,112    
-
 
Carrying amount of net asset sold (note(i) below)   
-
    (900,414)   
-
 
Loss on sales before income tax and reclassification of foreign currency translation reserve   
-
    (510,302)   
-
 
Non-controlling interest   
-
    497,060    
-
 
 Loss on disposal after income tax   
-
    (13,242)   
-
 

 

(i) Net assets disposed of:

 

   Consolidated 
   2023   2022   2021 
   US$   US$   US$ 
             
Intangible assets   
-
    1,420,288    
-
 
Cash and bank balance   
-
    10,301    
-
 
Other deposit and prepayment   
-
    35,312    
-
 
Amount due to a related company   
-
    88,261    
-
 
Trade and other liabilities   
-
    (653,748)   
-
 
    
-
    900,414    
-
 

 

F-43

 

NOTE 24. BUSINESS COMBINATIONS (Continued)

 

(b) Deemed disposal of subsidiaries (continued)

 

(ii) Net cash flows from disposal of subsidiaries

  

   Consolidated 
   2023   2022   2021 
   US$   US$   US$ 
             
Deemed consideration received, satisfied in investment in associate   
-
    390,112    
-
 
Cash and cash equivalents of subsidiaries disposed of (included cash at bank and bank overdraft)   
-
    (10,301)   
-
 
    
-
    379,811    
-
 

 

(c) Acquisition of subsidiaries

 

On January 31, 2022, the Company acquired 60% of the issued capital of Joint Investment Ltd (“JIL”). Pursuant to the agreement, the Company invested US$1,000,000 in the JIL representing 60% shareholdings in JIL, and the other party received 40% of the shareholding in JIL through their contribution in the operation, management, and business development in the NFT business.

 

On June 28, 2023, the Company acquired 100% of the issued capital of Itana Energy Pty Ltd (formerly name Teko Energy Pty Ltd) (“Teko”). Pursuant to the agreement, the Company invested US$750,000 in the Teko representing 100% shareholdings in Teko and 50% of its subsidiary’s Admiral Energy (Australia) Pty Ltd.

 

Details of the purchase consideration, the net assets acquired and goodwill are as follows:

 

   Consolidated 
   2023   2022   2021 
   US$   US$   US$ 
Purchase consideration (refer to (b) below):               
Cash paid   
-
    
-
    
-
 
Ordinary shares issued   750,000    
-
    
-
 
Total purchase considerations   750,000    
-
    
-
 
                
The assets and liabilities recognized as a result of the acquisitions are as follows:               
Cash   2,110    
-
    
-
 
Other assets   2,710    41,542    
-
 
Intangible assets   
-
    357,000    
-
 
Equipment   
-
    67,014    
-
 
Accounts payables   
-
    (727,247)   
-
 
Other payables   
-
    (367)   
-
 
Net identifiable liabilities acquired   4,820    (262,058)   
-
 
Increase/(decrease) non-controlling interests   22,396    (296,240)   
-
 
Increase in goodwill   722,784    
-
    
-
 
Increase in other reserve   
-
    558,298    
-
 
    750,000    
-
    
-
 

 

F-44

 

NOTE 25. ISSUED CAPITAL

 

(a) Share Capital

 

   December 31, 2023   December 31, 2022   December 31, 2021 
   Number
of shares*
   US$   Number
of shares*
   US$   Number
of shares*
   US$ 
Ordinary Shares fully paid   3,410,434    68,977,851    2,052,359    65,464,091    932,826    35,970,373 

 

*Retroactively applied the share consolidation of 10 for 1 share on October 16, 2023.

 

(b) Movements in ordinary share capital

 

   Company 
   Number
of Shares
   US$ 
January 1, 2021   6,513,671    23,784,959 
Issue of shares for services   20,512    74,100 
Issue of shares for cash   2,795,237    12,160,400 
Legal expenses in respect of issuance of debts   
-
    (49,086)
December 31, 2021   9,329,420    35,970,373 
Issuance of shares for execution of share options   2,200,000    3,498,000 
Issuance of shares for cash   7,822,771    22,550,846 
Issuance of shares on conversion of debts   1,172,563    3,444,872 
December 31 2022   20,524,754    65,464,091 
Issuance of shares for cash   299,998    90,000 
Issuance of shares for services   661,450    348,485 
Total issue of shares prior to share consolidation   21,486,202    65,902,576 
1 for 10 share consolidation of our fully paid ordinary shares   (19,337,701)   - 
Total issue of shares post share consolidation   2,148,501    65,902,576 
Issuance of shares for cash   607,817    1,497,043 
Issuance of shares for services   114,116    228,232 
Issuance of shares on acquisition of subsidiaries   300,000    750,000 
Issuance of shares on conversion of debts   240,000    600,000 
December 31, 2023   3,410,434    68,977,851 

 

There is only one class of share on issue being ordinary fully paid shares. Holders of ordinary shares are treated equally in all respects regarding voting rights and with respect to the participation in dividends and in the distribution of surplus assets upon a winding up. The fully paid ordinary shares have no par value.

 

On October 16, 2023, the Company effectuated a 1-for-10 share consolidation of the ordinary shares, which was approved at a special meeting of the shareholders on September 29, 2023. The purpose of the share consolidation was to enable the Company to meet the Nasdaq’s minimum share price requirement. The share consolidation became effective on October 16, 2023 and every then issued and outstanding ordinary shares were automatically combined into one issued and outstanding ordinary share. This reduced the number of outstanding shares from 21,486,202 shares to 2,148,501 after adjusting for fractional shares.

 

F-45

 

NOTE 25. ISSUED CAPITAL (Continued)

 

(c) Convertible Notes

 

During the year 2021, the details of convertible notes movements are as below:-

 

There was no movement in convertible notes in 2021.

 

During the year 2022, the details of convertible notes movements are as below:-

 

On January 3, 2022, the Company entered into convertible note purchase agreements raising a total of US$10 million (or about A$13,910,256) by the issuance of US$10 million convertible notes (“Note”). The Note bears interest at 6% per annum maturing in 2 years from the date of issuance of the Note. The holder of the Note has the right to convert the principal amount to shares in the Company at a fixed conversion price of US$3.12 per share (pre share consolidation), subject to adjustment, over the term of the Note. Under the Note, the holder of the Note cannot convert the shares in the Company if such conversion would take the noteholder over 4.99% shareholding in the Company. On the same date, the notes were converted and a total of 3,205,128 shares (pre share consolidation) were issued.

 

On January 19, 2022 a noteholder converted all the Jan 2020 Convertible Note into a total of 664,871 shares (pre share consolidation) in the Company. The Company entered into a Convertible Note Purchase Agreement in on January 20, 2020 for an investor to purchase from the Company a 10% convertible promissory note (“Jan 2020 Convertible Note”) in the principal amount of HK$14 million (or about A$2.6million or about US$1.8million) maturing in two (2) years from the date of the agreement. In 2021, the Company paid a total of US$125,852 (or equivalent to about A$174,811) in interest by issuance of 46,741 shares (pre share consolidation) in the Company.

 

In April 2022, a noteholder converted all the NGT Note into a total of 507,692 shares (pre share consolidation) in the Company. The Company entered into a Convertible Note Purchase Agreement on August 6, 2020 for Nextglass Technologies Corp. to purchase from the Company a convertible promissory note (the “NGT Note”) in the principal amount of US$1,650,000 maturing in two (2) years from the date of the agreement. The NGT Note is interest free, non-secured, and each of the Company and noteholder has the right to convert the NGT Note into shares in the Company at a price of US$3.00 per share (pre share consolidation), subject to adjustment, over the term of the NGT Note.

 

From July to December 2022, the Company entered into a number of Subscription Agreements (“Subscription Agreements”) for US$5.5 million (or about A$8,125,094) where each Subscriber will subscribe to a convertible note (“CPNote”). The CPNote is interest free, unsecured and convertible into shares of eGlass Technologies Ltd. (“eGlass”), a then subsidiary of the Company, on the date eGlass receives notice from the Australian Stock Exchange (“ASX”) that it will be admitted to the official list of ASX, at a conversion price equal to 25% discount to the IPO Price. However, if by the first anniversary of the date of the Agreement, eGlass has not received notice from ASX that it will be admitted to the official list of ASX, all CPNotes will convert to shares of the Company based on then 30-day VWAP multiplied by 90%. In 2023, all the above CPNotes were converted into eGlass shares, except for US$600,000 of CPNotes which were converted into 240,000 shares in the Company at a conversion price of US$2.50 per share.

 

During the year 2023, the details of convertible notes movements are as below:-

 

On October 24, 2023, the Company entered into convertible note purchase agreements with Nextglass Solutions, Inc raising a total of US$15 million by the issuance of US$15 million convertible notes (“NSI Note”). The Company received the proceeds through our solicitor firm. The NSI Note bears interest at 12% per annum maturing 2 years from the date of issuance of the NSI Note. The holder of the NSI Note has the right to convert the principal amount to shares in the Company at a fixed conversion price of US$1.42 per share, subject to adjustment, over the term of the NSI Note. Under the NSI Note, the holder of the NSI Note cannot convert the shares in the Company if such conversion would take the noteholder over 19.99% shareholding in the Company. At the date of this report none of the NSI Notes have been converted or redeemed.

 

As detailed above, all the CPNotes issued from July to December 2022 totaling about US$5.5 million were converted into eGlass shares, except for US$600,000 of CPNotes which were converted into 240,000 shares in the Company at a conversion price of US$2.50 per share.

 

Subsequent to the year end to the date of this report, the details of convertible notes movement are as below:

 

On July 17, 2024, the Company entered into a Convertible Note and Warrants Purchase Agreement for Montague Capital Pty Ltd to raise US$350,000 for working capital. The Note is interest bearing at 6% per annum and maturing in two years from the date issuance of the Note. The holder of the Notes has the right to convert the principal into ordinary shares of the Company at a conversion price of US$1.25 per share over the term of the Note. Furthermore, there is a conversion limitation such that no conversion can be effected if after such conversion Montague would own more than 19.99% equity interest in the Company.

 

In addition, the noteholder shall receive a warrant representing 150% of the amount of the Note, raising an additional US$525,000 if all the warrants are exercised. The warrants are for a term of 2 years from the date of the convertible notes and can be exercised at US$1.30 for each share. Under the warrant agreement, the warrant holder cannot exercise the warrant to subscribe for shares in the Company if such exercise would take the warrant holder over 19.99% shareholding in the Company.

 

F-46

 

NOTE 25. ISSUED CAPITAL (Continued)

 

(d) Warrants

 

During the year 2021, the details of warrants movements are as below:-

 

There were no warrants issued in 2021.

 

During the year 2022, the details of warrants movements are as below:-

 

On January 3, 2022 in connection with the sale of the convertible note, the Company issued to the noteholders warrants to purchase up to 2,139,032 shares (pre share consolidation) raising an additional US$8 million if all the warrants are exercised. The warrants are for a term of 2 years from the date of the convertible notes and can be exercised at US$3.74 per share (pre share consolidation) for each share. Under the warrant agreement, the warrant holder cannot exercise the warrant to subscribe for shares in the Company if such exercise would take the warrant holder over 4.99% shareholding in the Company. In January 2024, none of these warrants were exercised and all these warrants expired.

 

In connection with the private placements in August and September 2022, the Company issued to the shareholders warrants to purchase a total of 2,539,682 shares (pre share consolidation) raising an additional US$3.2 million, if all the warrants are exercised. The warrants are for a term of 2 years from the date of the Agreement and can be exercised at US$1.26 per share (pre share consolidation) for each share. Under the warrant agreement, the warrant holder cannot exercise the warrant to subscribe for shares in the Company if such exercise would take the warrant holder over 4.99% shareholding in the Company. In September 2024, none of these warrants were exercised and all these warrants expired.

 

Subsequent to the year end to the date of this report, the details of warrants movement are as below:

 

On July 17, 2024 in connection with the Convertible Note and Warrants Purchase Agreement, the Company issued to the noteholder warrants to purchases a total of 403,846 shares raising an additional US$525,000. If all the warrants are exercised. The warrants are for a term of 2 years from the date of the convertible notes and can be exercised at US$1.30 for each share. Under the warrant agreement, the warrant holder cannot exercise the warrant to subscribe for shares in the Company if such exercise would take the warrant holder over 19.99% shareholding in the Company.

 

(e) Options

 

On August 17, 2022, the Company filed in accordance with the requirements under the Securities Act of 1933, as amended, in order to register 2,200,000 shares (pre share consolidation), no par value per share, issuable pursuant to the Integrated Media Technology Limited 2021 Employee Share Option Plan adopted by the Board of Directors of the Company.

 

2021 Employee Share Option Plan

 

In December 2021, the Company approved a new Employee Share Option Plan (“2021 ESOP”). The 2021 ESOP is available to employee, consultants, and eligible persons (as the case may be) of the Company upon determined by the Remuneration Committee and at the absolute discretion of the Board. The 2021 ESOP is valid for 10 years term. The shares are to be issued at a price determined by the Board. The options are to be issued for no consideration. The exercise price, duration and other relevant terms of an option is to determine by the Board at its sole discretion. The total number of the shares which may be offered by the Company under the ESOP shall not at any time exceed 20% of the Company’s total issued shares when aggregated with the number of shares issued or that may be issued as a result of offers made at any time during the previous 3-year period, the limit imposed under the Australian Securities and Investments Commission Class Order 14/1001.

 

As at December 31, 2023, the Company had no employee share option issued and outstanding in respect to the 2021 ESOP.

 

F-47

 

NOTE 26. RESERVES

 

(i) In 2021, the significant movement in other reserves represents the release of the reserve to accumulated losses as a result of the disposal of the subsidiary GOXD International Limited and its subsidiaries.

 

(ii) In 2022, the movement in other reserves represents the release of the reserve to accumulated losses as a result of the disposal of the investment in Financial Assets at Fair Value Through other Comprehensive Income and the acquisition of a subsidies company. (Note 24(c)).
   
(iii) In 2023, the movement in other reserves represents the difference between the initial fair value of the convertible promissory note as a whole and the initial fair value of the liability component arising from the issue of the US$15 million convertible promissory note during the year.

 

NOTE 27. COMMITMENTS

 

(a) Non-cancellable operating leases

 

The Group had total future minimum lease payments for rent office under non-cancellable leases falling due as follows:

 

   Consolidated 
   2023   2022 
   US$   US$ 
Within one year   10,698    13,607 
In the second to fifth years, inclusive   
-
    24,956 
    10,698    38,563 

 

(b) Capital commitments

 

As of December 31, 2023 the Group had no capital commitment.

 

F-48

 

NOTE 28. FINANCIAL RISK MANAGEMENT

 

(a) Financial risk management objectives

 

The Group is exposed to financial risk through the normal course of their business operations. The key risks impacting the Group’s financial instruments are considered to be interest rate risk, foreign currency risk, liquidity risk, credit risk and capital risk. The Group’s financial instruments exposed to these risks are cash and short term deposits, receivables, trade payables and borrowings.

 

The Group’s chief executive officer for operations monitors the Group’s risks on an ongoing basis and report to the Board.

 

(b) Interest rate risk management

 

The Group is exposed to interest rate risk (primarily on its cash and bank balances, loan receivables, amount due to ultimate holding company, and borrowings), which is the risk that a financial instrument’s value will fluctuate as a result of changes in the market interest rates on interest-bearing financial instruments.

 

The Group has adopted a policy of ensuring it maintains adequate cash and cash equivalents balances available at call. These accounts currently earn low interests.

 

The sensitivity analyses below have been determined based on the exposure to interest rates at the reporting date and the stipulated change taking place at the beginning of the financial year and held constant throughout the reporting period. A 50 basis point increase or decrease represents management’s assessment of the possible change in interest rates.

 

At reporting date, if interest rates had increased/decreased by 50 basis points from the weighted average effective rate for the year, with other variables constant, the loss for the year would have been increased by US$14,101 (2022: increased by US$20) / decreased by US$14,101 (2022: decreased by US$20).

 

The following table summarizes interest rate risk for the Group, together with effective interest rates as at the reporting date.

 

   Consolidated 
   Weighted
average effective
interest
rate
   Floating
interest
rate
US$
   Fixed
interest rate
   Non-interest
bearing
US$
   Total
US$
 
2023                    
Financial Assets                    
Cash and bank balances   2.18%   282,022    
-
    393,759    675,781 
Trade receivables        
-
    
-
    -    - 
Other receivables        
-
    
-
    17,354    17,354 
Other assets        
-
    
-
    215    215 
Due from an associated company   5.00%   
-
    
-
    
-
    
-
 
Due from the former group companies   5.00%   
-
    
-
    
-
    
-
 
Total Financial Assets        282,022    
-
    411,328    693,350 
                          
Financial Liabilities                         
Trade and other liabilities        
-
    
-
    926,669    926,669 
Derivative financial instruments        -    -    1,449,000    1,449,000 
Warrant liabilities        -    -    11,980    11,980 
Convertible promissory notes   12.00%   
-
    11,144,000    
-
    11,144,000 
Total Financial Liabilities        
-
    11,144,000    2,387,649    13,531,649 

 

F-49

 

NOTE 28. FINANCIAL RISK MANAGEMENT (Continued)

 

(b) Interest rate risk management (continued)

 

   Consolidated 
   Weighted
average effective
interest
rate
   Floating
interest
rate
US$
   Fixed
interest
rate
   Non-
interest
bearing
US$
   Total
US$
 
2022                    
Financial Assets                         
Cash and bank balances   0.56%   405    
-
    50,131    50,536 
Trade receivables        
-
    
-
    580,582    580,582 
Other receivables        
-
    
-
    2,039,517    2,039,517 
Loan receivables   5.00%   
-
    6,902,000    
-
    6,902,000 
Other assets        
-
    
-
    1,695,707    1,695,707 
Due from an associated company   5.00%   
-
    476,815    
-
    476,815 
Due from the former group companies   5.00%   
-
    5,339,834    
-
    5,339,834 
Total Financial Assets        405    12,718,649    4,365,937    17,084,991 
                          
Financial Liabilities                         
Trade and other liabilities   8%   
-
    
-
    698,493    698,493 
Convertible promissory notes        
-
    
-
    1,677,178    1,677,178 
Total Financial Liabilities        
-
    
-
    2,375,671    2,375,671 
                          

 

(c) Foreign currency risk

 

The Group has net assets denominated in certain foreign currencies as at 31 December 2023. Foreign currency denominated financial assets and liabilities which expose the Group to currency risk are disclosed below. The amounts are those reported to key management translated into USD at the following closing rates, AUD 0.68047, CNY 0.14090, EUR 1.10390, HKD 0.12806, MYR 0.21790, SGD 0.75782, KRW 0.0077 and GBP 1.27325:

 

   Consolidated 
   Short term exposure   Long term exposure 
   MYR   AUD   KRW   SGD   MYR   AUD   KRW   SGD 
31 December 2023                                
Financial assets                                
- Cash and cash equivalents   191,096    308    
-
    91,414    
-
    
-
    
-
    
-
 
- Trade and other receivables   -    14,643    
-
    
-
    
-
    
-
    
-
    
-
 
- Loan receivable   
-
    
-
    
-
    
-
    
-
    
-
    
-
    
-
 
- Other assets   215    
-
    
-
    
-
    
-
    
-
    
-
    
-
 
- Due from an associate company   
-
    
-
    
-
    
-
    
-
    
-
    
-
    
-
 
- Due from the former companies   
-
    
-
    
-
    
-
    
-
    
-
    
-
    
-
 
Financial liabilities                                        
- Trade and other liabilities   (58,863)   (533,331)   (97,221)   
-
    
-
    
-
    
-
    
-
 
- Convertible promissory notes   
-
    
-
    
-
    
-
    
-
    
-
    
-
    
-
 
Total exposure   132,448    (518,380)   (97,221)   91,414    
-
    
-
    
-
    
-
 

 

F-50

 

NOTE 28. FINANCIAL RISK MANAGEMENT (Continued)

 

(c) Foreign currency risk (continued)

 

   Consolidated 
   Short term exposure   Long term exposure 
   HKD   GBP   EUR   MYR   AUD   KRW   HKD   GBP   EUR   MYR   AUD   KRW 
31 December 2022                                                                           
Financial assets                                                            
- Cash and cash equivalents   440    -    24,628    20,208    2,026    -    -    -    -    -    -    - 
- Trade and other receivables   31,573    40,041    -    57,459    4,545    -    -    -    -    -    -    - 
- Loan receivable   -    -    -    -    -    -    -    -    -    -    -    - 
- Other assets   -    -    24,600    31,853    186    -    -    -    -    -    -    - 
Financial liabilities                                                            
- Trade and other liabilities   (970)   -    -    (1,293)   (346,881)   (349,349)   -    -    -    -    -    - 
- Convertible promissory notes   -    -    -    -         -    -              -           -            -              -             -    - 
Total exposure   31,043    40,041    49,228    108,227    (340,124)   (3499,349)   -    -    -    -    -    - 

 

F-51

 

NOTE 28. FINANCIAL RISK MANAGEMENT (Continued)

 

(c) Foreign currency risk (continued)

 

The following table illustrates the sensitivity of loss and equity in regard to the Group’s financial assets and financial liabilities and the HKD/USD exchange rate, AUD/USD exchange rate, GBP/USD exchange rate, EUR/USD exchange rate, MYR/USD exchange rate, KRW/USD exchange rate and SGD/USD exchange rate and assure “all other things being equal’. It assumes a +/- 5% change of the USD/HKD exchange rate for the year ended at December 31, 2023 (2022: 5%). A +/- 5% change is considered for the USD/AUD exchange rate (2022: 5%). A +/- 5% change is considered for the USD/GBP exchange rate (2022: 5%). A +/- 5% change is considered for the USD/EUR exchange rate (2022: 5%). A +/- 5% change is considered for the USD/MYR exchange rate (2022: 5%). A +/- 5% change is considered for the USD/KRW exchange rate (2022: 5%). A +/- 5% change is considered for the USD/SGD exchange rate (2022: 5%). These percentages have been determined based on the average market volatility in exchange rates in the previous twelve (12) months. The sensitivity analysis is based on the Group’s foreign currency financial instruments held at each reporting date and also takes into account forward exchange contracts that offset effects from changes in currency exchange rates.

 

If the USD had strengthened against the HKD by 5% (2022: 5%), the AUD by 5% (2022: 5%), the GBP by 5% (2022: 5%), the EUR by 5% (2022: 5%), the MYR by 5% (2022: 5%), the KRW by 5% (2022: 5%), and the SGD by 5% (2022: 5%) respectively then this would have had the following impact: 

 

   Consolidated 
   Loss for the year 
   HKD   AUD   GBP   EUR   MYR   KRW   SGD   Total 
31 December 2023   
-
    (27,414)   
-
    (9)   (14,253)   (4,861)   (4,571)   (46,537)
31 December 2022   (1,552)   (781,929)   (2,002)   (2,461)   (19,700)   17,467)   
-
    (790,177)

 

   Consolidated 
   Equity 
   HKD   AUD   GBP   EUR   MYR   KRW   SGD   Total 
31 December 2023   
-
    (27,414)   
-
    (9)   (14,253)   (4,861)   (4,571)   (46,537)
31 December 2022   (1,552)   (781,929)   (2,002)   (2,461)   (19,700)   (17,467)   
-
    (790,177)

 

If the USD had weakened against the HKD by 5% (2022: 5%), the AUD by 5% (2022: 5%), the GBP by 5% (2022: 5%), the EUR by 5% (2022: 5%), the MYR by 5% (2022: 5%), the KRW by 5% (2022: 5%), and the SGD by 5% (2022: 5%) respectively then this would have had the following impact:

 

   Consolidated 
   Loss for the year 
   HKD   AUD   GBP   EUR   MYR   KRW   SGD   Total 
31 December 2023   
-
    27,414    
-
    9    14,253    4,861    4,571    46,537 
31 December 2022   1,552    781,929    2,002    2,461    19,700    17,467    
-
    790,177 

 

   Consolidated 
   Equity 
   HKD   AUD   GBP   EUR   MYR   KRW   SGD   Total 
31 December 2023   
-
    27,414    
-
    9    14,253    4,861    4,571    46,537 
31 December 2022   1,552    781,929    2,002    2,461    19,700    17,467    
-
    790,177 

 

Exposures to foreign exchange rates vary during the year depending on the volume of overseas transactions. Nonetheless, the analysis above is considered to be representative of the Group’s exposure to currency risk.

 

F-52

 

NOTE 28. FINANCIAL RISK MANAGEMENT (Continued)

 

(d) Liquidity risk management

 

Prudent liquidity risk management implies maintaining sufficient cash and term deposits, the availability of funding through an adequate amount of committed credit facilities and the ability to close out market positions. The Group manages liquidity risk by continuously monitoring forecast and actual cash flows and matching the maturity profiles of financial assets and liabilities.

 

The following tables detail the Group’s remaining contractual maturity for its non-derivative financial liabilities based on the agreed repayment terms or the earliest date on which the Group can be required to pay. The table has been drawn up based on the undiscounted cash flows of financial liabilities and include both interest and principal cash flows.

 

   Consolidated 
2023      Total                 
       contractual   0 - 30 days             
   Carrying   undiscounted   or on   31 - 90   91 - 365   Over 
   amount   cash flow   demand   days   Days   1 year 
   US$   US$   US$   US$   US$   US$ 
                         
Trade and other liabilities   926,669    926,669    297,683    168,964    317,954    142,068 
Convertible promissory note   11,144,000    11,144,000    
-
    
-
    
-
    11,144,000 
    12,070,669    12,070,669    297,683    168,964    317,954    11,534,036 

 

   Consolidated 
2022      Total                 
       contractual   0 - 30 days             
   Carrying   undiscounted   or on   31 - 90   91 -365   Over 
   amount   cash flow   demand   days   Days   1 year 
   US$   US$   US$   US$   US$   US$ 
                         
Trade and other liabilities   698,493    698,493    698,493    
     -
    
     -
    
      -
 
Derivative financial instruments   1,677,178    1,677,178    1,677,178    
-
    
-
    
-
 
Convertible promissory notes   5,118,173    5,118,173    5,118,173    
-
    
-
    
-
 
    7,493,844    7,493,844    7,493,844    
-
    
-
    
-
 

 

(e) Credit risk

 

Credit risk refers to the risk that a counter-party will default on its contractual obligations resulting in a financial loss to the Group. The Group’s potential concentration of credit risk consists mainly of cash deposits with banks, other receivables, loan receivable and trade receivables with its customers. The Group’s short term cash surpluses are placed with banks that have investment grade ratings. The Group considers the credit standing of counterparties and customers when making deposits and sales, respectively, to manage the credit risk. The Group does not have any material credit risk exposure to any single debtor or group of debtors under financial instruments entered into by the Group other than to debtors from purchase of products and loan receivable from Capital Stone Holdings Limited. Considering the nature of the business at current, the Group uses a range of approaches to mitigate credit risk.

 

The maximum exposure to credit risk, excluding the value of any collateral or other security, at the end of the reporting period, to financial assets, is represented by the carrying amount of cash and bank balances, trade and other receivables, and loan receivables net of any provisions for doubtful debts, as disclosed in the consolidated statement of financial positions and notes to the consolidated financial statements. 

 

F-53

 

NOTE 28. FINANCIAL RISK MANAGEMENT (Continued)

 

(f) Fair value of financial instruments

 

The following liability is recognized and measured at fair value on a recurring basis:

 

- Derivative financial instruments

 

Fair value hierarchy

 

All assets and liabilities for which fair value is measured or disclosed are categorized according to the fair value hierarchy as follows:

 

Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities.

 

Level 2: Inputs other than quoted prices included in level 1 that are observable for the asset or liability, either directly or indirectly.

 

Level 3: Inputs for the asset or liability that are not based on observable market data (unobservable inputs).

 

Recognized fair value measurements

 

The following table sets out the Group’s assets and liabilities that are measured at fair value in the consolidated financial statements.

 

   Level 2 
   US$ 
Derivative financial instruments     
December 31, 2023   1,449,000 
December 31, 2022   1,677,178 

 

The Group does not have any assets and liabilities that qualify for the level 1 category. There were no transfers between level 1, 2 and 3 during the year.

 

An instrument is included in level 2 if the financial instrument is not traded in an active market and if the fair value is determined by using valuation techniques based on the maximum use of observable market data for all significant inputs. For the derivatives, the Group uses the estimated fair value of financial instruments determined by using available market information and appropriate valuation methods, including relevant credit risks. The estimated fair value approximates to the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Specific valuation techniques used to value financial instruments include:

 

  quoted market prices or dealer quotes for similar instruments; and
     
  binomial options pricing models.

 

F-54

 

NOTE 28. FINANCIAL RISK MANAGEMENT (Continued)

 

(f) Fair value of financial instruments (continued)

 

The reconciliation of the opening and closing fair value balance of level 2 financial instruments is provided below:

 

   Consolidated 
   Put Option
US$
 
At January 1, 2023   1,677,178 
Issuance of put option at fair value   
-
 
Gain included in profit or loss on change in fair value   (228,178)
At December 31, 2023   1,449,000 

 

Disclosed fair values

 

The Group also has assets and liabilities which are not measured at fair values, but for which fair values are disclosed in the notes to the consolidated financial statements.

 

Due to their short term nature, the carrying amounts of trade receivables (refer to Note 11) and payables (refer to Note 19) are assumed to approximate their fair values because the impact of discounting is not significant.

 

(g) Capital management risk

 

The Group’s objective when managing capital is to safeguard the Group’s ability to continue as a going concern and to maintain a strong capital base sufficient to maintain future development of its business. In order to maintain or adjust the capital structure, the Group may return capital to shareholders, issue new shares or sell assets to reduce debts. The Group’s focus has been to raise sufficient funds through equity to fund its business activities.

 

There were no changes to the Group’s approach to capital management during the year. Risk management policies and procedures are established with regular monitoring and reporting.

 

Neither the Company nor any of its subsidiaries are subject to externally imposed capital requirements.

 

The capital structure of the Group consists of equity attributable to equity holders of the parent, comprising issued capital, paid-in capital, reserves and accumulated loss or retained earnings as disclosed in Notes 25 and 26 respectively.

 

F-55

 

NOTE 29. RELATED PARTIES

 

(a) Transactions with directors

 

During the years ended December 31, 2023, 2022 and 2021, the remuneration of directors of the Company was as follows:

 

   Consolidated 
   December 31,
2023
US$
   December 31,
2022
US$
   December 31,
2021
US$
 
Short term benefits (1)   228,400    446,704    530,716 

 

(1) In 2021, the director remuneration relating to our then CEO, was provided by a company which our then Company Secretary and Chief Financial Officer has control.

  

(b) Other related party transactions

 

During the years ended December 31, 2023, 2022 and 2021, the Group has the following material transactions with its related parties:

 

   Consolidated 
   December 31,
2023
US$
   December 31,
2022
US$
  

December 31,
2021

US$

 
Interest charged to an associate company   33,850    7,448    
-
 
Company secretarial, taxation service and CFO fee paid to a related company (1)   
-
    
-
    407,988 
Consultancy fee paid to a related party (2)   
-
    
-
    164,035 

 

(1) A former Company Secretary and CFO controlled the entity providing professional services.

 

(2) A former director, is a director of the related party.

 

F-56

 

NOTE 30. CASH FLOW INFORMATION

 

(a) Reconciliation of liabilities arising from financing activities

 

   Consolidated 
   Convertible
promissory notes
   Derivative
embedded in
convertible
bonds
issued
   Issue of
shares
   Other
reserves
   Total 
   US$   US$   US$   US$   US$ 
Beginning balance as of January 1, 2023   5,118,173    1,677,178    65,464,091    (558,298)   71,701,144 
Cash flows from financing activities   10,619,667    
-
    2,163,760    
-
    12,783,427 
Issue of shares on conversion of debt   (600,000)   
-
    600,000    
-
    
-
 
Issue of shares on acquisition of subsidiaries   
-
    
-
    750,000    
-
    750,000 
Change in working capital   (50,786)   
-
    
-
    
-
    (50,786)
Acquisition of subsidiaries   
-
    
-
    
-
    (722,784)   (722,784)
Fair value change in derivative financial instruments   
-
    (228,178)   
-
    (675,430)   (903,608)
Debt discount   (3,943,054)   
-
    
-
    3,943,054    
-
 
Ending balance as of December 31, 2023   11,144,000    1,449,000    68,977,851    1,986,542    83,557,393 

 

   Consolidated 
   Amounts
due to
related
companies
   Convertible
promissory
notes
   Lease
liabilities
   Derivative
embedded in
convertible
bonds
issued
   Issue of
shares
   Other
reserves
   Total 
   US$   US$   US$   US$   US$   US$   US$ 
Beginning balance as of January 1, 2022   179,684    3,083,223    1,367,162    1,571,939    35,970,373    45,392    42,217,773 
Cash flows from financing activities   
-
    6,069,422    
-
    
-
    26,048,846    
-
    32,118,268 
Change in working capital   (460,477)   
-
    (426,157)   
-
    
-
    
-
    (886,634)
Issue of shares on conversion of debt   
-
    (3,444,872)   
-
    
-
    3,444,872    
-
    
-
 
Debt discount   
-
    (589,600)   
-
    589,600    
-
    
-
    
-
 
Fair value change in derivative financial instruments   
-
    
-
    
-
    1,087,578    
-
    
-
    1,087,578 
Release of other reserve upon sale of financial assets   
-
    
-
    
-
    
-
    
-
    (45,392)   (45,392)
Redemption of convertible promissory note   
-
    
-
    
-
    (1,571,939)   
-
    
-
    (1,571,939)
Acquisition of subsidiary   
-
    
-
    
-
    
-
    
-
    (558,298)   (558,298)
Disposal of subsidiaries   192,532    
-
    
-
    
-
    
-
         192,532 
Deemed disposal of subsidiaries   88,261    
-
    (941,005)   
-
    
-
    
-
    (852,744)
Ending balance as of December 31, 2022   
-
    5,118,173    
-
    1,677,178    65,464,091    (558,298)   71,701,144 

 

 

F-57

 

NOTE 30. CASH FLOW INFORMATION (continued)

 

(a) Reconciliation of liabilities arising from financing activities (continued)

  

   Consolidated 
   Amounts
due to
related
companies
   Amount
due to
holding
company
   Convertible
promissory
notes
   Lease
liabilities
   Derivative
embedded in
convertible
bonds
issued
   Issue of
shares
   Other
reserves
   Total 
   US$   US$   US$   US$   US$   US$   US$   US$ 
Beginning balance as of January 1, 2021   183,224    410,674    1,735,049    
-
    942,375    23,784,959    2,084,870    29,141,151 
Cash flows from financing activities   
-
    
-
    1,348,174    1,447,484    
-
    12,185,414    
-
    14,981,072 
Change in working capital   160    (410,674)   
-
    (80,322)   
-
    
-
    
-
    (490,836)
Transfer other reserve to accumulated losses   
-
    
-
    
-
    
-
    
-
    
-
    (2,084,870)   (2,084,870)
Acquisition of subsidiary   
-
    
-
    
-
    
-
    
-
    
-
    45,392    45,392 
Fair value change   
-
    
-
    
-
    
-
    629,564    
-
    
-
    629,564 
Disposal of plant and equipment   (3,700)   
-
    
-
    
-
    
-
    
-
    
-
    (3,700)
Ending balance as of December 31, 2021   179,684    
-
    3,083,223    1,367,162    1,571,939    35,970,373    45,392    42,217,773 

 

F-58

 

NOTE 30. CASH FLOW INFORMATION (Continued)

 

(b) Net cash outflows from changes in working capital

 

   Consolidated 
   December 31,
2023
US$
   December 31,
2022
US$
   December 31,
2021
US$
 
Cash flows from changes in working capital               
(Increase)/decrease in assets:               
Trade receivables   (326,185)   (329,720)   55,240 
Other receivables   (281,759)   (2,024,642)   (14,473)
Inventories   188,669    (4,971,046)   (18,572)
Loan receivables   
-
   (102,000)   
-
 
Other current assets   64,654    (232,120)   (428,999)
Amount due from associate company   -    (476,815)   
-
 
Amount due from former group companies   5,053,879    (1,648,656)   
-
 
Increase/(decrease) in liabilities:               
Amount due to related companies   
-
    (460,477)   160 
Deferred tax   
-
    
-
    18,527 
Trade and other payables   476,144    (757,990)   160,543 
Amount due to holding company   
-
    
-
    (410,674)
Lease liabilities   
-
    (426,157)   (80,322)
Net cash inflows/(outflows) from changes in working capital   5,175,402    (11,429,623)   (718,570)

 

NOTE 31. KEY MANAGEMENT PERSONNEL DISCLOSURES

 

(a) Remuneration

 

The total remuneration paid or payable to the directors and senior management of the Group during the year are as follows:

 

   Consolidated 
   December 31,
2023
US$
   December 31,
2022
US$
   December 31,
2021
US$
 
Short-term employee benefits   423,187    842,729    1,401,637 
Post-employment benefits   
-
    
-
    4,500 
Total   423,187    842,729    1,406,137 

 

During the year 2021, included in short term benefits for directors and officers included payments of US$420,000 to a service companies owned by the then CFO for the provision of Chief Executive Officer and Chief Financial Officer services.

 

(b) Loans to Key Management Personnel and their related parties

 

There were no other loans outstanding at the reporting date to Key Management Personnel and their related parties.

 

Other transactions with Key Management Personnel

 

Several key management persons, or their related parties, held positions in other entities that resulted in them having control or significant influences over the financials or operating policies of these entities. Transactions between related parties are in normal commercial terms and conditions unless otherwise stated in Notes 29.

 

(c) Share Options - number of share options held by management

 

There were no share options held outstanding held by the management.

 

F-59

 

NOTE 32. CONTROLLED ENTITIES

 

As at December 31, 2023, the significant entities controlled by the Company are as follows:

 

Name of Subsidiary  Country of
Incorporation
  Principal Activities  Paid Up
Capital
   Percentage
Owned
 
             2023    2022 
CIMC Marketing Pty Limited  Australia  Management services & Investment holding  A$1   100% (Direct)    100% (Direct) 
IMTE Asia Limited  Hong Kong  Dormant  HK$1   100% (Direct)    100% (Direct) 
IMTE Malaysia Sdn. Bhd.  Malaysia  Administrative services and manufacture of electronic glass  MYR 100   100% (Direct)    100% (Direct) 
Itana Holdings Limited  Canada  Investment holding  US$1   100% (Direct)    100% (Direct) 
Merit Stone Limited  British Virgin Islands  Investment holding  US$100   100% (Direct)    100% (Direct) 
Ohho International Limited  Canada  Sale of filter plates and air filter product  US$1,290   51% (Direct)    51% (Direct) 
Ouction Digital Limited  Canada  Provision of digital trading platform and sale of digital asset  US$1,666,666   60% (Direct)    60% (Direct) 
World Integrated Supply Ecosystem Sdn. Bhd.  Malaysia  Sales of Halal products  MYR 5,000,000   60% (Indirect)    60% (Indirect) 
Itana Energy Pty Ltd*  Australia  Investment holding  A$100   100% (Indirect)    
-
 
Admiral Energy (Australia) Pty Ltd*  Australia  Sale of energy products and services  A$1,000   50% (Indirect)    
-
 

 

*Established during the year

 

F-60

 

NOTE 33. PARENT ENTITY INFORMATION (UNAUDITED)

 

Set out below is the supplementary information about the parent entity.

 

Statement of Comprehensive Income

 

   Company 
   December 31,
2023
US$
   December 31,
2022
US$
   December 31,
2021
US$
 

Loss after income tax

   (4,147,703)   (6,524,857)   (7,158,129)
Other comprehensive income   
-
    
-
    
-
 
Total comprehensive loss   (4,147,703)   (6,524,857)   (7,158,129)

 

Statement of Financial Position

 

   Company 
   December 31,
 2023
   December 31,
 2022
 
   US$   US$ 
Total non-current assets   119    2,826,460 
Total current assets   55,028,200    46,336,496 
Total assets   55,028,319    49,162,956 
Total current liabilities   (2,211,055)   (6,992,318)
Total non-current liabilities   (11,144,000)   (2,408,271)
Total liabilities   (13,355,055)   (9,400,589)
Total assets less liabilities   41,673,264    39,762,367 
           
Equity          
Issued capital   68,977,851    65,464,091 
Other reserves   2,544,840    
-
 
Accumulated losses   (29,849,427)   (25,701,724)
Total equity   41,673,264    39,762,367 

 

Guarantees entered into by the parent entity in relation to the debts of its subsidiary

 

Other than as disclosed in this Annual Report, the parent entity had not guarantee debts of its subsidiary companies.

 

Contingent liabilities

 

Other than as disclosed in this Annual Report, the parent entity had no contingent liabilities as at December 31, 2023 and December 31, 2022.

 

Capital commitments – plant and equipment

 

The parent entity has no capital commitments for plant and equipment as at December 31, 2023 and December 31, 2022.

 

F-61

 

NOTE 33. PARENT ENTITY INFORMATION (UNAUDITED) (Continued)

 

Significant accounting policies

 

The accounting policies of the parent entity are consistent with those of the Group, as disclosed in Note 3, except for:

 

- Investments in subsidiaries are accounted for at cost, less any impairment, in the parent entity,

 

- Dividends received from subsidiaries are recognized as other income by the parent entity and its receipt may be an indicator of impairment.

 

NOTE 34. EVENTS OCCURRING AFTER THE REPORTING DATE

 

Subject to the subsequent events below, there is no other matter or circumstance arisen since December 31, 2023, which has significantly affected, or may significantly affect the operations of the Group, the result of those operations, or the state of affairs of the Group in subsequent financial years.

 

In January 2024, the Company issued 21,000 ordinary shares at a share price of US$2.50 for a total subscription amount of US$52,500. The proceeds from this sale of shares were used for the company’s operation and working capital.

 

On July 22, 2024, the Company issued a $350,000 convertible notes (“2407 Note”). The 2407 Note bears interest at 6% per annum maturing in 2 years from the date of issuance of the 2407 Note. The holder of the 2407 Note has the right to convert the principal amount to shares in the Company at a fixed conversion price of $1.25 per share, subject to adjustment, over the term of the 2407 Note. The holder of the 2407 Note cannot convert the shares in the Company if such conversion would take the noteholder over 19.99% shareholding in the Company. In addition, the noteholder also received a warrant representing 150% of the amount of the 2407 Note, raising an additional $525,000 if all the warrants are exercised. The warrants are for a term of 2 years from the date of the 2407 Note and can be exercised at $1.30 for each share. Under the warrant agreement, the warrant holder cannot exercise the warrant to subscribe for shares in the Company if such exercise would take the warrant holder over 19.99% shareholding in the Company. The use of the proceeds from this fund raise was for working capital. As at the date of this report none of the 2407 Note were converted and none of the warrants were exercised.

 

On July 26, 2024, the Group entered into an Exclusive Distribution Agreement for the distributing and sale of the smartglass products used in or installed in the Prefabrication Home Market. The distributor would maintain the exclusive distribution by achieving certain annual sales. The agreement if for 3 years with a renewal for 5 years under certain conditions.

 

NOTE 35. GROUP DETAILS

 

The registered office and principal place of business is:

 

Suite 1401 Level 14, 219-227 Elizabeth Street

Sydney NSW 2000 

 

F-62

 

ITEM 19. EXHIBITS

 

The following exhibits are filed as part of this registration statement:

 

Exhibit   Description
2.1*   Description of securities registered under Section 12 of The Exchange Act
3.1(1)   Constitution of Registrant
4.1(2)   Convertible Note Purchase Agreement with CIMB Limited dated January 20, 2020 and Supplemental Agreements dated February 11, 2020
4.2(3)   Convertible Note Purchase Agreement between IMTE and Nextglass Technologies Corp dated August 6, 2020
4.3(4)   Supplement Letter Agreement to the Convertible Note Purchase Agreement between IMTE and Nextglass Technologies Corp dated December 21, 2020
4.4(12)   IMTE’s Employee Share Option Plan (“2021 ESOP”)
4.5(6)   Assumption and Assignment Agreement between IMTE and Joint Investment Limited dated December 29, 2021 for IMTE to subscribe up to 60% in Ace Corporation Limited
4.6(7)   Convertible Note Purchase and Warrant Agreements between IMTE and Investors dated January 3, 2022
4.7(8)   Subscription Agreement between IMTE and World Integrated Supply Ecosystem Sdn. Bhd. (“WISE”) dated January 20, 2022 for IMTE to subscribe up to 60% in WISE
4.8(9)   Private Placing Agreements between IMTE and Investors in March and April 2022 raising a total of US$6.7 million
4.9(10)   Sales and Purchase Agreement, Loan Agreement and Specific Security Deed between IMTE and Capital Stone Holdings Limited dated on July 11, 2022
4.10(10)   Subscription Agreements between IMTE and Investors dated on and around July 11, 2022
4.11(11)   Private Placing Agreement between IMTE and Investors dated on July 29, 2022
4.12(13)   Convertible Promissory Note Agreement between IMTE and Nextglass Solutions Inc dated October 24, 2023
4.13(14)   Convertible Note and Warrants Agreement between IMTE and Montague Capital Pty Ltd dated July 17, 2024
4.14*   Distribution Agreement between IMTE, USI Group Limited and Nextglass Solutions Inc. for the Prefabricated Home Market
8.1*   List of subsidiaries
12.1*   Certification of Chief Executive Officer
12.2*   Certification of Principal Accounting Officer
13.1*   Certification by Chief Executive Officer of periodic financial report pursuant to 18 U.S.C. Section 1350, as mandated by Section 906 of the Sarbanes-Oxley Act
13.2*   Certification by Chief Accounting Officer of periodic financial report pursuant to 18 U.S.C. Section 1350, as mandated by Section 906 of the Sarbanes-Oxley Act
15*   Consent of Independent Registered Public Accounting Firm for the 2021, 2022 and 2023 Financial Statements
97.1*   Clawback Policy
101.INS   Inline XBRL Instance Document *
101.SCH   Inline XBRL Taxonomy Extension Schema Document *
101.CAL   Inline XBRL Taxonomy Extension Calculation Linkbase Document *
101.DEF   Inline XBRL Taxonomy Extension Definition Linkbase Document *
101.LAB   Inline XBRL Taxonomy Extension Label Linkbase Document *
101.PRE   Inline XBRL Taxonomy Extension Presentation Linkbase Document *
104   Cover Page Interactive Data File formatted as Inline XBRL and contained in Exhibit 101 *

 

(1) Incorporated by reference on Form 20-F/A3 submitted on May 8, 2017.
(2) Incorporated by reference on Form 6-K filed on January 20, 2020 and Form 6-K/A filed on February 12, 2020.
(3) Incorporated by reference on Form 6-K filed on August 12, 2020.
(4) Incorporated by reference on Form F-1 filed on December 23, 2020.
(5) Incorporated by reference on Form F-1 filed on October 14, 2021.
(6) Incorporated by reference on Form 6-K filed on December 30, 2021.
(7) Incorporated by reference on Form 6-K filed on January 3, 2022.
(8) Incorporated by reference on Form 6-K filed on January 20, 2022.
(9) Incorporated by reference on Form 20-F filed on April 28, 2022.
(10) Incorporated by reference on Form 6-K filed on July 12, 2022.
(11) Incorporated by reference on Form 6-K filed on August 2, 2022.
(12) Incorporated by reference on Form S-8 filed on August 17, 2022.
(13) Incorporated by reference on Form 6-K filed on October 24, 2023.
(14)

Incorporated by reference on Form 6-K filed on July 24, 2024.

 

* Filed with this annual report on Form 20-F.

 

85

 

SIGNATURES

 

The registrant hereby certifies that it meets all of the requirements for filing on Form 20-F and that it has duly caused and authorized the undersigned to sign this Annual Report on its behalf.

 

  Integrated Media Technology Limited
   
  /s/ Jannu Binti Babjan
  By: Jannu Binti Babjan
  Title: Chairman

 

Date: October 22, 2024

 

86

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