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

Consolidated Statements of Operations and Comprehensive (Loss)/ Income

v3.24.1.1.u2
Consolidated Statements of Operations and Comprehensive (Loss)/ Income - USD ($)
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Profit or loss [abstract]      
Revenue $ 23,062,754 $ 18,193,616 [1] $ 8,294,804 [1]
Cost of revenue (11,126,432) (9,554,327) [1] (5,537,346) [1]
Gross profit 11,936,322 8,639,289 [1] 2,757,458 [1]
Operating (Expenses) Income      
General and administrative (29,904,423) (21,073,794) [1] (7,211,204) [1]
Depreciation and amortization (2,695,741) (1,182,413) [1] (38,864) [1]
Other operating income 34,794 144,396 [1] 490,300 [1]
Impairment loss (15,371,643) (28,246,010) [1] [1]
Gain on lease modification 308,763 [1] [1]
(Loss) gains from foreign currency transactions (375,407) (619,267) [1] (166,174) [1]
Total operating expenses, net (48,003,657) (50,977,088) [1] (6,925,942) [1]
Loss from Operations (36,067,335) (42,337,799) [1] (4,168,484) [1]
Other Income/(Expense)      
Other Income 207,142 418,437 [1] [1]
Revaluation adjustment of contingent liabilities 32,774,594 (13,838,197) [1] [1]
Other expense (9,796) [1] [1]
Interest expense, net (3,694,513) (1,312,476) [1] (449,566) [1]
Total Other Income/(Expense), net 29,277,427 (14,732,236) [1] (449,566) [1]
Loss Before Income Tax (6,789,908) (57,070,035) [1] (4,618,050) [1]
Income Tax Benefit 1,078,686 1,063,596 [1] 128,852 [1]
Net Loss (5,711,222) [2] (56,006,439) [1] (4,489,198) [1]
Other comprehensive loss:      
Foreign currency translation (203,832) (290,184) [1] 230,081 [1]
Total Comprehensive Loss (5,915,054) (56,296,623) [1] (4,259,117) [1]
Net Loss is attributed to:      
Owners of Genius Group Limited (5,657,143) [2] (55,800,418) [1] (4,315,239) [1]
Non-controlling interest (54,079) [2] (206,021) [1] (173,959) [1]
Total Comprehensive Loss is attributable to:      
Owners of Genius Group Limited (5,860,975) (56,090,602) [1] (4,085,158) [1]
Non-controlling interest $ (54,079) $ (206,021) [1] $ (173,959) [1]
Basic earnings (loss) per share from continuing operations $ (0.10) $ (2.47) $ (0.28)
Diluted earnings (loss) per share from continuing operations $ (0.10) $ (2.47) $ (0.28)
Weighted-average number of shares outstanding, basic 55,501,971 22,634,366 16,155,812
Weighted-average number of shares outstanding, diluted 55,501,971 [2] 22,634,366 16,155,812
Number of shares outstanding, basic 73,873,784 27,705,227 16,155,812
Number of shares outstanding, diluted 73,873,784 27,705,227 16,155,812
[1] Restatement details in Note 2
[2] Restatement as per Note 2