Currenc Group Inc
For the period ended Sep 30, 2024. Filed Nov 19, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 19, 2024
CURR$1.89-0.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Statements of Cash Flows (Unaudited)
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
| Nine months ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| US$ | US$ | |
| Cash flows from operating activities: | ||
| Net loss | (11,260,691) | (10,447,097) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Non-cash expense for share-based compensation | 13,137,850 | - |
| Non-cash expense for share issued for service providers | 1,000,000 | - |
| Non-cash offering costs for convertible note | 2,512,000 | - |
| Non-cash finance cost for debt conversion | 340,159 | - |
| Amortization of discount on convertible bonds | - | 801,692 |
| Depreciation of equipment and software | 420,642 | 466,229 |
| Depreciation of right-of-use assets | 131,378 | 132,117 |
| Amortization of intangible assets | 2,184,996 | 2,292,031 |
| Deferred income taxes | (119,078) | - |
| Disposal of subsidiaries including gain | (21,737,480) | - |
| Goodwill impairment | 1,657 | - |
| Unrealized foreign exchange gain | 1,586,780 | 101,609 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (147,011) | 568,655 |
| Prepayments, receivables and other assets | 6,093,059 | 8,531,594 |
| Escrow money payable | 10,373 | 101,382 |
| Client money payable | (416,198) | (801,190) |
| Accounts payable, accruals and other payables | (9,028,919) | (11,826,195) |
| Interest payable on convertible bonds | - | 2,798,675 |
| Amount due from a director | 1,427,640 | - |
| Amounts due from related parties | (1,842,634) | (2,416,376) |
| Amounts due to related parties | 4,034,054 | (1,147,877) |
| Net cash used in operating activities | (11,671,423) | (10,844,751) |
| Cash flows from investing activities: | ||
| Decrease in short-term investments | (365,224) | (174,303) |
| Net cash used in investing activities | (365,224) | (174,303) |
| Cash flows from financing activities: | ||
| Increase in bank overdrafts | - | 568,100 |
| Proceeds from convertible note | 1,750,000 | - |
| Proceeds from borrowings | 640,145 | 1,250,741 |
| Repayment of borrowings | (220,986) | (1,492,925) |
| Proceeds from receivable factoring | 1,604,828 | 1,580,109 |
| Repayment of receivable factoring | (1,452,946) | (1,908,489) |
| Payment of principal elements of lease liabilities | (136,094) | (126,520) |
| Payment of interest elements of lease liabilities | (5,842) | (19,082) |
| Net cash generated from/(used in) financing activities | 2,179,105 | (148,066) |
| Net decrease in cash and cash equivalents | (9,857,542) | (11,167,120) |
| Cash and cash equivalents, restricted cash and escrow money receivable at beginning of the period | 58,960,384 | 73,999,703 |
| Cash and cash equivalents, restricted cash and escrow money receivable at end of the period | 49,102,842 | 62,832,583 |
| Supplemental disclosure of cash flow information: | ||
| Income taxes paid | (345,550) | (30,151) |
| Interest paid | (972,448) | (1,169,664) |
| Supplemental disclosure of non-cash investing and financing activities: | ||
| Net liabilities assumed upon Closing of Business Combination | 12,168,598 | - |
| Issuance of Common stock upon acquisition of equity interest | 5,348,515 | - |
| Issuance of Common stock upon conversion of convertible bond | 17,001,486 | - |
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