| Finance income and finance costs |
26. Finance income and finance costs Details of finance income for the years ended December 31, 2023, 2022 and 2021, are as follows:
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| |
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(Unit: USD) |
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Interest Income |
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13,643 |
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39,966 |
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202,432 |
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Gain from foreign currency transactions |
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41,881 |
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38,952 |
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33,517 |
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Gain from disposal of non-current financial assets |
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— |
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— |
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75,821 |
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Gain from foreign currency translation (*) |
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78,600 |
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74,596 |
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110,252 |
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Gain from discharge of indebtedness (**) |
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— |
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4,079,520 |
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3,694,237 |
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Total |
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134,124 |
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4,233,034 |
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4,116,259 |
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| (*) |
Gain from foreign currency translation represents the increase in the value of foreign-denominated assets or liabilities when translated into the reporting currency due to change in exchange rates. |
| (**) |
Gain from discharge of indebtedness was recognized from conversion of convertible bonds to equity which occurred in 2021 and 2022. | Details of finance costs for the years ended December 31, 2023, 2022 and 2021, are as follows:
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(Unit: USD) |
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Interest expense |
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2,466,238 |
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919,446 |
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1,876,001 |
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Loss from foreign currency transactions |
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24,667 |
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68,204 |
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41,865 |
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Loss from foreign currency translation (*) |
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127,190 |
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133,181 |
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78,570 |
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Loss from valuation of CB |
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103,342 |
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— |
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— |
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Change in fair value of derivative warrant liabilities |
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504,587 |
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— |
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— |
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Total |
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3,226,024 |
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1,120,831 |
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1,996,436 |
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| (*) |
Loss from foreign currency translation represents the decrease in the value of foreign-denominated assets or liabilities when translated into the reporting currency due to change in exchange rates. |
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