Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
Dec. 31, 2023
Dec. 31, 2022
 [1]
Current Assets    
Cash and cash equivalents $ 614,753 $ 5,720,569
Restricted cash 711,026 11,108,816
Accounts receivable, net 1,868,931 4,856,637
Other Receivables 50,465 120,304
Due from related parties 4,966,733 351,357
Inventories 755,284 1,001,977
Prepaid expenses and other current assets 666,673 1,090,787
Total Current Assets 9,633,865 24,250,447
Property and equipment, net 456,751 563,131
Right-of-use assets 12,573,710
Other Investments 28,698 28,698
Investments in joint venture 379 373
Goodwill 11,425,148 31,688,887
Intangible assets, net 15,250,751 16,107,293
Other receivables 770,994 732,716
Due from related parties 5,628,298 5,288,264
Other non-current assets 18,889 26,108
Total Non Current Assets 33,579,908 67,009,180
Total Assets 43,213,773 91,259,627
Current Liabilities    
Accounts payable 4,406,850 1,672,306
Accrued expenses and other current liabilities 2,419,205 4,381,083
Contract liability 2,750,137 5,820,450
Income tax payable 174,738 355,023
Due to related parties 4,907,181 2,932,090
Lease liabilities 1,590,538
Loans payable - current portion 2,467,656 334,391
Convertible debt obligations - current portion 5,752,328
Short term debt 122,415 539,245
Total Current Liabilities 17,248,182 23,377,454
Due to related parties 1,820 1,729
Lease liabilities 11,394,337
Loans payable – non-current portion 254,455 428,025
Convertible debt obligations - non-current portion 2,223,523
Deferred tax liability 2,280,323 3,391,129
Contingent liabilities 3,714,000 36,488,594
Total Non Current Liabilities 6,250,598 53,927,337
Total Liabilities 23,498,780 77,304,791
Stockholders’ Equity    
Contributed capital 81,617,864 108,633,143
Reserves (8,459,565) (33,775,101)
Accumulated deficit (59,132,781) (67,697,823)
Capital and reserves attributable to owners of Genius Group Limited 14,025,518 7,160,219
Non-controlling interest 5,689,475 6,794,617
Total Stockholders’ Equity 19,714,993 13,954,836
Total Liabilities and Stockholders’ Equity $ 43,213,773 $ 91,259,627
[1] Restatement details in Note 2