Annual and transition report of foreign private issuers [Sections 13 or 15(d)]

DISCONTINUED OPERATIONS (Tables)

v3.25.4
DISCONTINUED OPERATIONS (Tables)
 12 Months Ended
Dec. 31, 2025
Notes and other explanatory information [abstract]  
SCHEDULE OF DISCONTINUED ASSETS AND LIABILITIES

The major classes of assets and liabilities of E-Squared Education Enterprises (Pty) Ltd and its subsidiaries as at 31 December 2024, being the last reporting date prior to the commencement of the liquidation process in January 2025,that was de-recognised from the consolidated financial statements for the financial year ended 31 December 2025 are as follows:

    US$  
Assets      
Property, plant and equipment   $ 219,370  
Goodwill     90,266  
Intangible assets     85,833  
Trade and other receivables     148,754  
Due from related parties     9,089  
Prepaid expenses and other current assets     13,842  
Cash and cash equivalents     8,933  
Assets of discontinued operation   $ 576,087  
         
Liabilities        
Trade and other payables   $ 451,777  
Due to related parties     457,682  
Deferred tax liabilities     198,800  
Liabilities of discontinued operation   $ 1,108,259  
         
Net liabilities directly associated with subsidiary that was de-recognised, included in the statements of operations and comprehensive loss   $ (532,172 )
SCHEDULE OF DISCONTINUED PROFIT OR LOSS

The results of the discontinued operation for the reporting years ended 31 December 2025, 2024 and 2023 are as follows:

 

    2025     2024     2023  
    For the years ended December 31,  
    2025     2024     2023  
                   
Revenue   $ -     $ 330,756     $ 525,210  
Cost of revenue     -       (98,882 )     (284,237 )
Gross profit     -       231,874       240,973  
Other income and gains     -       6,686       6,237  
Administrative expenses     -       (539,370 )     (269,521 )
Depreciation and amortization     -       -       (4,761 )
Impairment loss     -       (780,386 )     (1,019,778 )
Finance costs     -       (13,328 )     (465 )
Loss before income tax     -       (1,094,524 )     (1,047,315 )
Income tax (expense) / income     -       -       -  
(Loss) / profit from discontinued operation   $ -     $ (1,094,524 )   $ (1,047,315 )
SCHEDULE OF DISCONTINUED CASH FLOWS

The cash flows attributable to the discontinued operation are as follows:

 

    2025     2024  
    As of December 31,  
    2025     2024  
Operating activities   $ (8,933 )   $ (137,219 )
Investing activities     -          
Financing activities     -       143,736  
Net cash outflows   $ (8,933 )   $ 6,517  
SCHEDULE OF EARNINGS PER SHARE

Disclosure for (loss) / earnings per share

 

    2025     2024  
    As of December 31,  
    2025     2024  
(Loss) / earnings per share from discontinued operation attributable to owners of the Company                
Basic and diluted   $ 0.01 *   $ (0.05 )*