Company: ILLRW
Filing Date: 2025-01-24
Form Type: S-1
Source: 0001213900-25-006210
Chunk: 193

Company: Triller Group Inc.
Filing Date: 2025-01-24
Form: S-1
Chunk 193
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 operations and comprehensive
loss.

Gain on disposal of property and equipment

Gain on disposal of property and equipment was
resulted from the sale of office premises to an independent third party on July 20, 2023. For the year ended December 31, 2023, the gain
on disposal of property and equipment was $0.7 million recognized in the consolidated statements of operations and comprehensive loss.

Rental Income

Rental income was earned from the leasing of our
owned office premises. For the year ended December 31, 2023, the rental income decreased by US$0.08 million, or 24.13%, as compared to
the year ended December 31, 2022 was resulted from the sale of one of the office premises during the year.

Income Tax Expense

Income tax expense increased by US$0.2 million,
or 129.60%, for the year ended December 31, 2023, as compared to the year ended December 31, 2022, primarily attributable to the provision
of income tax for the year.

Net Loss

Net loss increased by US$4.7 million, or
10.52% for the year ended December 31, 2023, as compared to December 31, 2022, primarily due to the increase in operating expenses of
US$38.6 million, offset by the increase in revenues of US$23.1 million and decrease in other expense, net of US$11.0 million.

Liquidity and Capital Resources

Sources of Liquidity

AGBA has a history of operating losses and negative cash flow. For
the nine months ended September 30, 2024, we reported a net loss of US$28.8 million and reported a negative operating cash flow of US$20.7
million. As of September 30, 2024, AGBA’s cash balance was US$5.1 million for working capital use. The management of AGBA estimates
that currently available cash will not be able to provide sufficient funds to meet the planned obligations for the next 12 months.

AGBA’s ability to continue as a going concern is dependent on
our ability to successfully implement its plans. AGBA’s management believes that it will be able to continue to grow its revenue
base and control expenditures. In parallel, ILLR continually monitors its capital structure and operating plans and evaluates various
potential funding alternatives that may be needed in order to finance our