| Summarized Financial Information of Non-controlling Interest |
Summarized statement of loss and comprehensive loss:
|
|
|
|
|
|
|
|
|
|
Year ended |
|
February 10, 2021 |
|
|
|
March 31, 2022 |
|
to March 31, 2021 |
Revenue from contracts with customers |
|
|
$25,971,480 |
|
$2,403,074 |
Cost of sales |
|
|
(28,200,621) |
|
(3,192,259) |
Selling, general and administrative expenses |
|
(9,459,448) |
|
(1,253,251) |
Impairment loss on intangible assets |
|
|
(1,527,000) |
|
— |
Impairment loss on goodwill |
|
|
(3,288,847) |
|
— |
Finance costs |
|
|
(2,427,165) |
|
(140,218) |
Loss before tax |
|
|
(18,931,601) |
|
(2,182,654) |
Income tax |
|
|
(11,854) |
|
(1,398) |
Net loss |
|
(18,943,455) |
|
(2,184,052) |
Total comprehensive loss |
|
(18,948,855) |
|
(2,635,006) |
Loss attributable to the subsidiary's non-controlling interest |
|
(9,452,784) |
|
(1,094,210) |
Comprehensive loss attributable to the subsidiary's non-controlling interest |
|
$(9,455,479) |
|
$(1,320,138) |
|
|
|
|
|
|
Summarized statement of balance sheets:
|
|
|
|
|
|
|
|
|
|
March 31,
2022 |
|
March 31,
2021 |
Current assets |
|
|
$12,260,375 |
|
11,338,209 |
Non-current assets |
|
|
39,000,367 |
|
51,263,341 |
Current liabilities |
|
|
5,991,483 |
|
6,125,690 |
Non-current liabilities |
|
|
25,362,259 |
|
12,031,860 |
Total equity |
|
|
19,907,000 |
|
44,444,000 |
Attributable to: |
|
|
|
|
|
Equity holders to parent |
|
|
$7,184,923 |
|
$22,266,444 |
Non-controlling interest |
|
|
12,722,077 |
|
22,177,556 |
Summarized statement of cash flow:
|
|
|
|
|
|
|
|
|
|
Year ended |
|
February 10, 2021 |
|
|
|
March 31, 2022 |
|
to March 31, 2021 |
Cash flow used in operating activities |
|
|
$(10,214,243) |
|
$(2,225,032) |
Cash flow used in investment activities |
|
|
(122,136) |
|
— |
Cash flow from (used in) financing activities(1) |
|
11,280,528 |
|
(26,286) |
Net increase (decrease) in cash and cash equivalents |
|
$944,149 |
|
$(2,251,318) |
(1) Cash flow from financing activities is provided through intercompany advances. |
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|