Company: ILLRW
Filing Date: 2025-01-24
Form Type: S-1
Source: 0001213900-25-006210
Chunk: 206

Company: Triller Group Inc.
Filing Date: 2025-01-24
Form: S-1
Chunk 206
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 in the unaudited condensed consolidated statements
of operations and comprehensive loss. Warrants classified as equity instruments are initially recognized at fair value and are not subsequently
remeasured.

| ● | Revenue Recognition |

AGBA earns and receives most of its non-interest
income from contracts with customers, which are accounted for in accordance with Accounting Standards Update (“ASU”) No. 2014-09,
Revenue from Contracts with Customers (Topic 606) (“ASC 606”).

ASC Topic 606 provided the following overview
of how revenue is recognized from AGBA’s contracts with customers: AGBA recognizes revenue to depict the transfer of promised goods
or services to customers in an amount that reflects the consideration to which AGBA expects to be entitled in exchange for those goods
or services.

Step 1: Identify the contract(s) with a customer.

Step 2: Identify the performance obligations in
the contract.

Step 3: Determine the transaction price –
The transaction price is the amount of consideration in a contract to which an entity expects to be entitled in exchange for transferring
promised goods or services to a customer.

Step 4: Allocate the transaction price to the
performance obligations in the contract – Any entity typically allocates the transaction price to each performance obligation on
the basis of the relative standalone selling prices of each distinct good or service promised in the contract.

Step 5: Recognize revenue when (or as) the entity
satisfies a performance obligation – An entity recognizes revenue when (or as) it satisfies a performance obligation by transferring
a promised good or service to a customer (which is when the customer obtains control of that good or service). The amount of revenue recognized
is the amount allocated to the satisfied performance obligation. A performance obligation may be satisfied at a point in time (typically
for promises to transfer goods to a customer) or over time (typically for promises to transfer service to a customer).

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Certain portion of AGBA’s income is derived
from contracts with customers, and as such, the revenue recognized depicts the transfer of promised goods or services to its customers
in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. AGBA
considers the terms of the contract and all relevant facts and circumstances when applying this guidance. AGBA’s revenue recognition
policies are in compliance with ASC 606, as follows:

Commissions

AGBA earns commissions from the