AGBA Group Holding Ltd
For the period ended Dec 31, 2023. Filed Mar 28, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Mar 28, 2024
ILLR$0.18-23.0%Stored close · as of Oct 6, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Operations and Comprehensive Loss
AND COMPREHENSIVE LOSS
| For the years ended December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Revenues: | ||
| Interest income: | ||
| Loans | $157,190 | $176,175 |
| Total interest income | 157,190 | 176,175 |
| Non-interest income: | ||
| Commissions | 50,068,936 | 26,561,691 |
| Recurring asset management service fees | 2,992,918 | 3,372,449 |
| Recurring asset management service fees, related party | 970,143 | 969,912 |
| Total non-interest income | 54,031,997 | 30,904,052 |
| Total revenues from others | 54,189,187 | 31,080,227 |
| Operating expenses: | ||
| Interest expense | (784,479) | (140,644) |
| Commission expense | (37,287,519) | (18,823,458) |
| Sales and marketing expense | (3,708,557) | (11,141,672) |
| Research and development expense | (4,557,196) | (1,209,035) |
| Personal and benefit expense | (27,217,822) | (21,928,504) |
| Legal and professional fees | (13,601,274) | (1,265,866) |
| Legal and professional fees, related party | (333,332) | — |
| Allowance for expected credit losses on financial instruments | (1,077,184) | (16,509) |
| Other general and administrative expenses | (9,467,146) | (4,905,636) |
| Total operating expenses | (98,034,509) | (59,431,324) |
| Loss from operations | (43,845,322) | (28,351,097) |
| Other income (expense): | ||
| Interest income | 383,720 | 99,132 |
| Foreign exchange gain (loss), net | 909,227 | (2,643,261) |
| Investment loss, net | (6,878,869) | (8,937,431) |
| Change in fair value of warrant liabilities | 4,548 | 8,952 |
| Change in fair value of forward share purchase liability | (82,182) | (5,392,293) |
| Loss on settlement of forward share purchase agreement | (378,895) | — |
| Gain on disposal of property and equipment | 664,816 | — |
| Rental income | 239,239 | 315,233 |
| Sundry income | 64,237 | 504,735 |
| Total other expense, net | (5,074,159) | (16,044,933) |
| Loss before income taxes | (48,919,481) | (44,396,030) |
| Income tax expense | (286,538) | (124,605) |
| NET LOSS | $(49,206,019) | $(44,520,635) |
| Other comprehensive loss: | ||
| Foreign currency translation adjustment | (88,149) | (205,477) |
| COMPREHENSIVE LOSS | $(49,294,168) | $(44,726,112) |
| Weighted average number of ordinary shares outstanding | ||
| Basic and diluted | 65,265,397 | 56,084,858 |
| Net loss per ordinary share | ||
| Basic and diluted | $(0.75) | $(0.79) |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.