v3.24.3
Other Current Payables and Liabilities
 6 Months Ended 12 Months Ended
Jun. 30, 2024
Dec. 31, 2023
Other current payables and liabilities [abstract]    
Other current payables and liabilities
18. Other current payables and liabilities
Other payables as of June 30, 2024 and December 31, 2023, are as follows:
 
 
  
 
 
  
(Unit: USD)
 
Classification
  
As of
June 30,
2024
 
  
As of
December 31,
2023
 
Non-trade Payables (*)
      27,391,768        25,324,072  
Accrued Expense
      6,807,023        1,518,801  
  
 
 
     
 
 
  
Total
      34,198,791        26,842,873  
  
 
 
     
 
 
  
 
(*)
As of June 30, 2024 and December 31, 2023, the balance of non-trade payables primarily consists of USD 17,011,861 and USD 17,361,197, respectively, of legal and other professional fees incurred in preparation for and execution of the De-SPAC transaction, which are non-recurring. The Company has entered into deferred fee agreements (“DFA”) with numerous transaction advisors to spread payments over two years. The current balance represents 50% of the total deferred fee payables.
 
Other current liabilities as of June 30, 2024 and December 31, 2023, are as
follows
:
 
 
  
 
 
  
(Unit: USD)
 
Classification
  
As of
June 30,
2024
 
  
As of
December 31,
2023
 
Withholdings
      38,972        21,184  
Value added tax withheld
      208,478        207,310  
Advance Received
      2,515,524        746,417  
  
 
 
     
 
 
  
Total
      2,762,974        974,911  
  
 
 
     
 
 
  
18. Other current payables and liabilities
Other payables as of December 31, 2023, and December 31, 2022, are as follows:
 
            (Unit: USD)  
Classification
   
As of
December 31,
2023
     
As of
December 31,
2022
  
Non-trade
Payables (*)
      25,324,072        4,132,680  
Accrued Expense
      1,518,801        1,558,085  
  
 
 
     
 
 
  
Total
      26,842,873        5,690,765  
  
 
 
     
 
 
  
 
(*)
As of December 31, 2023, the balance of
non-trade
payables primarily consists of USD 17,361,197 of legal and other professional fees incurred in preparation for and execution of the
De-SPAC
transaction, which are
non-recurring.
The Company has entered into deferred fee agreements (“DFA”) with numerous transaction advisors to spread payments over two years. The current balance represents 50% of the total deferred fee payables.
 
Other current liabilities as of December 31, 2023, and December 31, 2022, are as follows:
 
            (Unit: USD)  
Classification
   
As of
December 31,
2023
     
As of
December 31,
2022
  
Withholdings
      21,184        15,086  
Value added tax withheld
      207,310        208,186  
Advance Received
      746,417        576,299  
  
 
 
     
 
 
  
Total
      974,911        799,571