| Summary of Transactions and outstanding balances of related parties |
Transactions with and outstanding balances with related parties were as follows: Transactions during the period
|
|
|
|
|
|
|
|
|
June 30, 2024 |
|
|
June 30, 2023 |
|
Share Capital Issued at nominal value |
|
|
|
|
|
|
Igor Lychagov (number of Ordinary shares issued in 2023 - 163,265) |
|
— |
|
|
20 |
|
Loans repaid |
|
|
|
|
|
|
DBLP Sea Cow Ltd. |
|
— |
|
|
250,000 |
|
Loans taken |
|
|
|
|
|
|
Steve Perry |
|
— |
|
|
125,000 |
|
Igor Lychagov |
|
— |
|
|
4,000,000 |
|
Convertible promissory notes |
|
|
|
|
|
|
DBLP Sea Cow Limited |
|
1,250,000 |
|
|
— |
|
Arthur Yao |
|
93,750 |
|
|
— |
|
Adam Wagner |
|
31,250 |
|
|
— |
|
John Wagner |
|
19,844 |
|
|
— |
|
Stephen Perry |
|
63,500 |
|
|
— |
|
Sauvik Banerjee |
|
27,413 |
|
|
— |
|
Anthony Sharp |
|
79,250 |
|
|
— |
|
Reimbursement of expenses |
|
|
|
|
|
|
Dan Wagner |
|
50,000 |
|
|
79,180 |
|
Managerial remuneration |
|
|
|
|
|
|
Key Management Personnel |
|
|
|
|
|
|
Dan Wagner |
|
151,799 |
|
|
147,702 |
|
Salman Ahmad |
|
113,849 |
|
|
110,776 |
|
Richard Burchill |
|
139,149 |
|
|
135,393 |
|
Sauvik Banerjjee |
|
195,075 |
|
|
115,682 |
|
Share-based compensation |
|
|
|
|
|
|
DBLP Sea Cow Ltd |
|
1,250,000 |
|
|
|
|
Richard Burchill |
|
673,282 |
|
|
673,282 |
|
Sauvik Banerjjee |
|
345,896 |
|
|
345,896 |
|
Peter Vesco |
|
100,000 |
|
|
— |
|
Arthur Yao |
|
100,000 |
|
|
— |
|
Consulting fees |
|
|
|
|
|
|
DBLP Sea Cow |
|
150,000 |
|
|
150,000 |
|
Peter Vesco |
|
189,749 |
|
|
184,627 |
|
Arthur Yao |
|
150,000 |
|
|
150,000 |
|
Director remuneration |
|
|
|
|
|
|
Anthony Sharp |
|
184,627 |
|
|
200,129 |
|
Sir David Wright |
|
46,157 |
|
|
49,212 |
|
Steve Perry |
|
46,157 |
|
|
49,212 |
|
Derek Smith |
|
46,157 |
|
|
49,212 |
|
Business development expenses |
|
|
|
|
|
|
Rezolve China (2) |
|
— |
|
|
570,917 |
|
(1)DBLP Sea Cow Ltd. (a company incorporated in the Seychelles) (“DBLP Sea Cow”) is wholly legally owned by Dan Wagner, Chief Executive Officer of Rezolve. The Company has expensed all cash transferred to its subsidiary Rezolve China. Please refer to the basis of presentation discussed in note 2.1.
|
Transactions and outstanding balances of related parties were as follows: Transactions during the year
|
|
|
|
|
|
|
|
|
|
|
December 31, 2023 |
|
|
December 31, 2022 |
|
|
|
(as restated) |
|
|
(as restated) |
|
Share Capital Issued at nominal value |
|
|
|
|
|
|
DBLP Sea Cow (2) (number of ordinary shares issued
in 2–23 – Nil and 2–22 – 27,246,461) |
|
$ |
— |
|
|
$ |
3,225 |
|
Loans Repaid |
|
|
|
|
|
|
DBLP Sea Cow (2) |
|
|
250,000 |
|
|
|
— |
|
Convertible Loans taken |
|
|
|
|
|
|
Steve Perry |
|
|
132,269 |
|
|
|
— |
|
Loans Taken |
|
|
|
|
|
|
Dan Wagner |
|
|
191,405 |
|
|
|
— |
|
Igor Lychagov |
|
|
5,587,343 |
|
|
|
— |
|
Managerial remuneration |
|
|
|
|
|
|
Key Management Personnel |
|
|
|
|
|
|
Dan Wagner |
|
|
296,067 |
|
|
|
298,654 |
|
Salman Ahmad |
|
|
222,535 |
|
|
|
207,395 |
|
Richard Burchill |
|
|
271,395 |
|
|
|
273,761 |
|
Sauvik Banerjee |
|
|
393,440 |
|
|
|
188,972 |
|
|
|
|
1,183,437 |
|
|
|
968,782 |
|
Sales and marketing |
|
|
393,440 |
|
|
|
188,972 |
|
General and Administrative |
|
|
789,997 |
|
|
|
779,810 |
|
|
|
|
1,183,437 |
|
|
|
968,782 |
|
Share-based compensation |
|
|
|
|
|
|
DBLP Sea Cow (2) |
|
|
756,944 |
|
|
|
33,374,018 |
|
Richard Burchill |
|
|
1,326,703 |
|
|
|
— |
|
Steve Perry |
|
|
— |
|
|
|
2,449,787 |
|
Peter Vesco |
|
|
60,556 |
|
|
|
— |
|
Arthur Yao (1) |
|
|
60,556 |
|
|
|
— |
|
Sauvik Banerjee |
|
|
842,746 |
|
|
|
— |
|
Derek Smith |
|
|
— |
|
|
|
3,677,896 |
|
|
|
|
3,047,505 |
|
|
|
39,501,701 |
|
Sales and marketing |
|
|
963,858 |
|
|
|
— |
|
General and Administrative |
|
|
2,083,647 |
|
|
|
39,501,701 |
|
|
|
|
3,047,505 |
|
|
|
39,501,701 |
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2023 |
|
|
December 31, 2022 |
|
|
|
(as restated) |
|
|
(as restated) |
|
Consulting fees |
|
|
|
|
|
|
DBLP Sea Cow (2) |
|
|
300,000 |
|
|
|
300,000 |
|
Peter Vesco |
|
|
414,926 |
|
|
|
380,805 |
|
Arthur Yao (1) |
|
|
300,000 |
|
|
|
300,000 |
|
|
|
|
1,014,926 |
|
|
|
980,805 |
|
Sales and marketing |
|
|
714,926 |
|
|
|
680,805 |
|
General and Administrative |
|
|
300,000 |
|
|
|
300,000 |
|
|
|
|
1,014,926 |
|
|
|
980,805 |
|
Director remuneration |
|
|
|
|
|
|
Sir David Wright |
|
|
92,521 |
|
|
|
87,107 |
|
Anthony Sharp |
|
|
380,084 |
|
|
|
376,428 |
|
Steve Perry |
|
|
92,521 |
|
|
|
93,329 |
|
Derek Smith |
|
|
92,521 |
|
|
|
93,329 |
|
|
|
|
657,647 |
|
|
|
650,193 |
|
Sales and marketing |
|
|
— |
|
|
|
— |
|
General and Administrative |
|
|
657,647 |
|
|
|
650,193 |
|
|
|
|
657,647 |
|
|
|
650,193 |
|
Management remuneration |
|
|
|
|
|
|
Sales and marketing |
|
|
2,072,224 |
|
|
|
869,777 |
|
General and Administrative |
|
|
3,831,291 |
|
|
|
41,231,704 |
|
|
|
|
5,903,515 |
|
|
|
42,101,481 |
|
Business development expenses |
|
|
|
|
|
|
Rezolve China (3) |
|
|
777,161 |
|
|
|
7,136,168 |
|
(2)DBLP Sea Cow Ltd. (a company incorporated in the Seychelles) (“DBLP Sea Cow”) is wholly legally owned by Dan Wagner, Chief Executive Officer of Rezolve. (3)The Company has expensed all cash transferred to its subsidiary Rezolve China. Please refer to the basis of presentation discussed in note 2.1.
|
| Summary of Outstanding balances as at reporting date |
Outstanding balances as at reporting date
|
|
|
|
|
|
|
|
|
June 30, 2024 $ |
|
|
December 31, 2023 $ |
|
Unsecured Loans payable |
|
|
|
|
|
|
DBLP Sea Cow |
|
447,067 |
|
|
447,067 |
|
Trade and other payables |
|
|
|
|
|
|
DBLP Sea Cow |
|
450,000 |
|
|
350,000 |
|
Dan Wagner |
|
334,725 |
|
|
147,485 |
|
Arthur Yao |
|
151,105 |
|
|
61,495 |
|
Peter Vesco |
|
30,407 |
|
|
31,248 |
|
Sauvik Banerjjee |
|
— |
|
|
58,320 |
|
Anthony Sharp |
|
126,223 |
|
|
127,325 |
|
Steve Perry |
|
— |
|
|
1,133 |
|
Share Subscription Receivables |
|
|
|
|
|
|
Dan Wagner |
|
111,845 |
|
|
111,845 |
|
DBLP Sea Cow |
|
7,999 |
|
|
7,999 |
|
Convertible debt |
|
|
|
|
|
|
Steve Perry (note 5.2) |
|
136,943 |
|
|
125,000 |
|
Igor Lychagov (note 5.3) |
|
6,028,177 |
|
|
5,587,343 |
|
Convertible promissory notes |
|
|
|
|
|
|
DBLP Sea Cow Limited |
|
1,260,417 |
|
|
— |
|
Arthur Yao |
|
94,531 |
|
|
— |
|
Adam Wagner |
|
31,510 |
|
|
— |
|
John Wagner |
|
20,009 |
|
|
— |
|
Stephen Perry |
|
64,029 |
|
|
— |
|
Sauvik Banerjee |
|
27,641 |
|
|
— |
|
Anthony Sharp |
|
79,910 |
|
|
— |
|
|
Outstanding balances as at reporting date
|
|
|
|
|
|
|
|
|
|
|
December 31, 2023 |
|
|
December 31, 2022 |
|
|
|
$
(as restated) |
|
|
$
(as restated) |
|
Short term debt to related party |
|
|
|
|
|
|
DBLP Sea Cow (2) |
|
|
447,067 |
|
|
|
697,067 |
|
Dan Wagner |
|
|
191,405 |
|
|
|
— |
|
Igor Lychagov |
|
|
5,587,343 |
|
|
|
— |
|
|
|
|
6,225,815 |
|
|
|
697,067 |
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2023 |
|
|
December 31, 2022 |
|
|
|
$
(as restated) |
|
|
$
(as restated) |
|
Due to related party |
|
|
|
|
|
|
DBLP Sea Cow (2) |
|
|
350,000 |
|
|
|
225,000 |
|
Dan Wagner |
|
|
147,605 |
|
|
|
172,476 |
|
Richard Burchill |
|
|
— |
|
|
|
535 |
|
Arthur Yao |
|
|
61,945 |
|
|
|
51,414 |
|
Peter Vesco |
|
|
31,248 |
|
|
|
42,906 |
|
Steve Perry |
|
|
1,133 |
|
|
|
— |
|
Sauvik Banerjjee |
|
|
58,320 |
|
|
|
— |
|
Anthony Sharp |
|
|
127,325 |
|
|
|
129,460 |
|
|
|
|
777,576 |
|
|
|
621,791 |
|
Short term convertible debt |
|
|
|
|
|
|
Steve Perry |
|
|
132,269 |
|
|
|
— |
|
Share Subscription Receivables |
|
|
|
|
|
|
Dan Wagner |
|
|
111,845 |
|
|
|
111,845 |
|
DBLP Sea Cow (2) |
|
|
7,999 |
|
|
|
7,999 |
|
|
|
|
119,844 |
|
|
|
119,844 |
|
DBLP Sea Cow Ltd. (a company incorporated in the Seychelles) (“DBLP Sea Cow”) is wholly legally owned by Dan Wagner, Chief Executive Officer of Rezolve.
|