UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-Q

(Mark One)

☑	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended ~~June~~September 30, 2024

☐	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _______ to _______

Commission File Number: 000-55685

FINTECH SCION LIMITED
(Exact name of registrant as specified in its charter)

Nevada		30-0803939
(State or other jurisdiction of incorporation)		(I.R.S. Employer Identification No.)

M Floor & 1st Floor, No. 33, Jalan Maharajalela, 50150, Kuala Lumpur, Malaysia		N/A
(Address of principal executive offices)		(Zip Code)

+603 9226 0908

(Registrant’s telephone number, including area code)

(Former name, former address and former fiscal year, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act: None.

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes ☐ No ☒

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☐ No ☒

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☐	Accelerated filer ☐
Non-accelerated filer ☒	Smaller reporting company ☒
	Emerging Growth Company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes ☐ No ☒

As of ~~November~~December 181, 2024, there were 198,742,643 shares of the issuer’s common stock issued and outstanding.

FINTECH SCION LIMITED AND SUBSIDIARIES

FORM 10-Q

FOR THE QUARTERLY PERIOD ENDED ~~June~~ September 30, 2024

TABLE OF CONTENTS

		PAGE

	PART I - FINANCIAL INFORMATION

Item 1.	Financial Statements (unaudited)	4

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	14

Item 3.	Quantitative and Qualitative Disclosures About Market Risk	19

Item 4.	Controls and Procedures	19

	PART II - OTHER INFORMATION

Item 1.	Legal Proceedings	21

Item 1A.	Risk Factors	21

Item 2.	Unregistered Sales of Equity Securities And Use of Proceeds	21

Item 3.	Defaults Upon Senior Securities	21

Item 4.	Mine Safety Disclosures	21

Item 5.	Other Information	21

Item 6.	Exhibits	22

	SIGNATURES	23

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS AND INDUSTRY DATA

This Quarterly Report on Form 10-Q contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). These statements may be identified by such forward-looking terminology as “may,” “should,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” “continue” or the negative of these terms or other comparable terminology. Our forward-looking statements are based on a series of expectations, assumptions, estimates and projections about our company, are not guarantees of future results or performance and involve substantial risks and uncertainty. We may not actually achieve the plans, intentions or expectations disclosed in these forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in these forward-looking statements. Our business and our forward-looking statements involve substantial known and unknown risks and uncertainties, including the risks and uncertainties inherent in our statements regarding:

	●	our projected financial position and estimated cash burn rate;

	●	our estimates regarding expenses, future revenues and capital requirements;

	●	our ability to continue as a going concern;

	●	our need to raise substantial additional capital to fund our operation;

	●	our dependence on third parties in the conduct of our operations;

	●	our ability to obtain the necessary regulatory approvals to market and commercialize our products;

	●	the impact of a health epidemic, on our business, our operations or the global economy as a whole;

	●	the results of market research conducted by us or others;

	●	our ability to obtain and maintain intellectual property protection for our current and future products;

	●	our ability to protect our intellectual property rights and the potential for us to incur substantial costs from lawsuits to enforce or protect our intellectual property rights;

	●	the possibility that a third party may claim we or our third-party licensors have infringed, misappropriated or otherwise violated their intellectual property rights and that we may incur substantial costs and be required to devote substantial time defending against claims against us;

	●	our reliance on third-party suppliers and manufacturers;

	●	the success of competing payment platforms and products that are or become available;

	●	our ability to expand our organization to accommodate potential growth and our ability to retain and attract key personnel;

	●	the potential for us to incur substantial costs resulting from product liability lawsuits against us and the potential for these product liability lawsuits to cause us to limit our commercialization of our products; and

	●	the successful development of our commercialization capabilities, including sales and marketing capabilities.

All of our forward-looking statements are as of the date of this Quarterly Report on Form 10-Q only. In each case, actual results may differ materially from such forward-looking information. We can give no assurance that such expectations or forward-looking statements will prove to be correct. An occurrence of, or any material adverse change in, one or more of the risk factors or risks and uncertainties referred to in this Quarterly Report on Form 10-Q or included in our other public disclosures or our other periodic reports or other documents or filings filed with or furnished to the U.S. Securities and Exchange Commission (the “SEC”) could materially and adversely affect our business, prospects, financial condition and results of operations. Except as required by law, we do not undertake or plan to update or revise any such forward-looking statements to reflect actual results, changes in plans, assumptions, estimates or projections or other circumstances affecting such forward-looking statements occurring after the date of this Quarterly Report on Form 10-Q, even if such results, changes or circumstances make it clear that any forward-looking information will not be realized. Any public statements or disclosures by us following this Quarterly Report on Form 10-Q that modify or impact any of the forward-looking statements contained in this Quarterly Report on Form 10-Q will be deemed to modify or supersede such statements in this Quarterly Report on Form 10-Q.

This Quarterly Report on Form 10-Q may include market data and certain industry data and forecasts, which we may obtain from internal company surveys, market research, consultant surveys, publicly available information, reports of governmental agencies and industry publications, articles and surveys. Industry surveys, publications, consultant surveys and forecasts generally state that the information contained therein has been obtained from sources believed to be reliable, but the accuracy and completeness of such information is not guaranteed. While we believe that such studies and publications are reliable, we have not independently verified market and industry data from third-party sources.

FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS (UNAUDITED)

	PAGE
Condensed Consolidated Balance Sheets	5
Condensed Consolidated Statements of Operations and Comprehensive Loss	6
Condensed Consolidated Statements of Cash Flows	7
Notes to Unaudited Condensed Consolidated Financial Statements	8

FINTECH SCION LIMITED AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS (In U.S. dollars)

	As of			As of
	June 30,			December 31,
	September 30,			December 31,
	2024 (Unaudited)			2023 (Audited)
ASSETS
Current assets
Cash and cash equivalents	$	34,~~455~~014,~~972~~768		$	3,765,959
Accounts receivable		56,~~758~~001			59,974
Amount due from related parties		—			—
Inventories		12,000			12,000
Other receivables, prepayments and other current assets		~~183~~118,~~311~~153			509,451
Total Current Assets		34,~~708~~200,~~041~~922			4,347,384
Non-current assets
Intangible asset		1911,~~212~~465			34,707
Goodwill		16,657,653			16,657,653
Property and equipment, net		3331,~~063~~447			38,600
Total Non-Current Assets		16,~~709~~700,~~928~~565			16,730,960
TOTAL ASSETS	$	20,~~417~~901,~~969~~487		$	21,078,344
LIABILITIES
Current liabilities
Amounts due to related parties	$	1,~~196~~458,~~146~~808		$	755,040
Accounts payable		~~382~~335,~~109~~046			47,662
Accruals and other payables		12,~~813~~335,~~741~~201			1,953,160
Total Current Liabilities		34,~~391~~129,~~996~~055			2,755,862
TOTAL LIABILITIES		34,~~391~~129,~~996~~055			2,755,862
Commitments and Contingencies (Note 10)		—			—
STOCKHOLDERS’ EQUITY
Preferred stock par value $0.001: 25,000,000 shares authorized; and 0 outstanding		—			—
Common stock par value $0.001: 400,000,000 and $0.001: 400,000,000 shares authorized, respectively; 198,742,643 and 298,742,643 shares issued and outstanding, respectively		198,743			298,743
Additional paid-in capital		58,148,510			58,148,510
Accumulated surplus		(41,~~341~~535,~~454~~796)	)		(40,140,592)	)
Accumulated other comprehensive income		21(37,~~668~~302)			16,734
Equity attributable to equity holders of the parent		1716,~~027~~774,~~467~~155			18,323,395
Non-controlling interests		(1,~~494~~723)	)		(913)	)
Total Stockholders’ Equity		1716,~~025~~772,~~973~~432			18,322,482
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	20,~~417~~901,~~969~~487		$	21,078,344

The accompanying notes are an integral part of these condensed consolidated financial statements.

FINTECH SCION LIMITED AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited) (In U.S. dollars)

	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2024			2023			2024			2023
REVENUE	$	81220,~~571~~209		$	~~583~~946,~~628~~830		$	~~340~~561,~~965~~174		$	12,~~430~~377,~~822~~652
COST OF REVENUE		(218,~~805~~827)	)		(4272,~~470~~486)	)		(5867,~~955~~782)	)		(42114,~~505~~991)	)
GROSS PROFIT		59211,~~766~~382			~~541~~874,~~158~~344			~~282~~493,~~010~~392			12,~~388~~262,~~317~~661
OPERATING EXPENSES
General and administrative expenses		(~~409~~398,~~548~~340)	)		(~~900~~1,~~620~~259,700)	)		(1,~~293~~691,~~440~~780)	)		(13,~~783~~043,~~986~~686)	)
Total operating expenses		(~~409~~398,~~548~~340)	)		(~~900~~1,~~620~~259,700)	)		(1,~~293~~691,~~440~~780)	)		(13,~~783~~043,~~986~~686)	)
LOSS FROM OPERATIONS		(~~349~~186,~~782~~958)	)		(~~359~~385,~~462~~356)	)		(1,~~011~~198,~~430~~388)	)		(~~395~~781,~~669~~025)	)
OTHER INCOME/(EXPENSE), NET
Other income		—			46241,~~515~~386			21,~~022~~937			89330,~~491~~877
Other expense		(~~114~~7,~~694~~615)	)		(~~230~~58)	)		(~~192~~199,~~035~~563)	)		(~~804~~862)	)
Total Other income / (Expense), net		(~~114~~7,~~694~~615)	)		46241,~~285~~328			(~~190~~197,~~013~~626)	)		88330,~~687~~015
NET LOSS BEFORE TAX	$	(~~464~~194,~~476~~573)	)	$	(~~313~~144,~~177~~028)	)	$	(1,~~201~~396,~~443~~014)	)	$	(~~306~~451,~~982~~010)	)
Income tax		—			~~453~~996			—			(21,~~173~~177)	)
NET LOSS	$	(~~464~~194,~~476~~573)	)	$	(~~312~~143,~~724~~032)	)	$	(1,~~201~~396,~~443~~014)	)	$	(~~309~~452,~~155~~187)	)
Loss attributable to non-controlling interest		~~147~~229			61233			~~581~~810			~~501~~734
NET LOSS FOR THE PERIOD		(~~464~~194,~~329~~344)	)		(~~312~~142,~~663~~799)	)		(1,~~200~~395,~~862~~204)	)		(~~308~~451,~~654~~453)	)
OTHER COMPREHENSIVE INCOME / (LOSS)
Foreign currency translation adjustment		(258,~~330~~057)	)		(17,~~038~~506)			4(54,~~934~~036)			3113,~~063~~558
TOTAL COMPREHENSIVE INCOME / (LOSS)	$	(~~466~~252,~~659~~401)	)	$	(~~295~~160,~~625~~305)	)	$	(1,~~195~~449,~~928~~240)	)	$	(~~277~~437,~~591~~895)	)
Weighted average number of common shares outstanding - basic and diluted		198,742,643			198,742,643			198,742,643			198,742,643
Net Income (Loss) per share - basic and diluted	$	(0.00)	)	$	(0.00)	)	$	(0.01)	)	$	(0.00)	)

The accompanying notes are an integral part of these condensed consolidated financial statements.

FINTECH SCION LIMITED AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (In U.S. dollars)

	For the Period Ended June 30,
	For the Period Ended September 30,
	2024			2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$	(1,~~201~~396,~~443~~014)	)	$	(~~309~~452,~~155~~187)	)
Items not involving cash:
Depreciation and amortization of– property and equipment and right-of-use assets		2032,~~780~~001			1627,~~481~~048
Changes in operating assets and liabilities
Accounts receivables		3,~~216~~973			1,~~316~~250,~~056~~976
Other receivables, prepayments and other current assets		~~326~~391,~~140~~298			~~699~~749,~~414~~094
Inventories		—			(1311,~~500~~961)	)
Accounts Payable		~~334~~287,~~447~~384			(~~939~~823,~~555~~577)	)
Accrued expense and other payables		~~(139~~382,~~419~~041	)		~~499~~37,~~752~~152
Net (used in) / cash generated by operating activities		(~~656~~299,~~279~~317)	)		1776,~~269,493~~545
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property and equipment and rights-of-use assets		~~252~~(1,606)			(810,~~795~~897)	)
Net (used in) / cash generated by investing activities		~~252~~(1,606)			(810,~~795~~897)	)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of shares		(100,000)	)		—
(Repayments) / Proceeds from related parties		~~441~~703,~~106~~768			(~~589~~845,~~994~~440)	)
Net cash generated by / (used in) financing activities		~~341~~603,~~106~~768			(~~589~~845,~~994~~440)	)
EFFECT OF EXCHANGE RATES ON CASH		4(54,~~934~~036)			3113,~~063~~558
NET CHANGE IN CASH AND CASH EQUIVALENTS		~~(309~~248,~~987~~809	)		~~701~~(66,~~767~~234)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD		3,765,959			3,791,378
CASH AND CASH EQUIVALENTS, END OF PERIOD	$	34,~~455~~014,~~972~~768		$	43,~~493~~725,~~145~~144
SUPPLEMENTAL OF CASH FLOW INFORMATION
Cash paid for interest expenses	$	—		$	—
Cash paid for income tax	$	—		$	—

The accompanying notes are an integral part of these condensed consolidated financial statements.

FINTECH SCION LIMITED AND SUBSIDIARIES
NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)
(In U.S. dollars)

1.	ORGANIZATION AND BUSINESS

Fintech Scion Limited (“the Company”) formerly known as HWGC Holdings Limited, incorporated in Nevada.

The Company holds the following equity interests in its subsidiaries:

Interest

No.

Name of subsidiary

Country of incorporation

2024 %

~~2023 %~~

~~Principal~~2023 ~~activities~~%

Principal activities

FintechCashier Asia P.L.C., formerly known as HWGG Capital P.L.C. (“FintechAsia”)

Malaysia

100

~~100~~

~~Money broking~~100

Money broking

HWG Cash Singapore Pte Ltd (“HCS”)*

Singapore

~~Trading of digital assets~~55

Trading of digital assets

HWGC KZ Limited (“HKZ”)*

Kazakhstan

100

~~100~~

~~Software development~~100

Software development

Fintech Scion Limited (“Fintech”)

United Kingdom

100

~~100~~

~~Holding company and protection of Intellectual Property~~100

Holding company and protection of Intellectual Property

Fintech Digital Solutions Limited (“FDS”)

United Kingdom

100

~~100~~

~~Digital payment services~~100

Digital payment services

Fintech Digital Consulting Limited (“FDC”)

United Kingdom

100

~~100~~

~~Technology provider and payment consulting~~100

Technology provider and payment consulting

*	HCS and HKZ are currently dormant.

The Company offers digital banking services by providing the tools, skills, and solutions to facilitate payment services to merchants, offering a variety of secured, online and fully managed transactions and settlements.

2.	UNAUDITED INTERIM FINANCIAL STATEMENTS

The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information under Article 8 of Regulation S-X. They do not include all information and foot notes required by U.S. GAAP for complete financial statements. Except as disclosed herein, there have been no material changes in the information disclosed in the notes to the consolidated financial statement for the year ended December 31, 2023, included in the Company’s Form 10-K/A filed with the SEC on October 28, 2024 (“Annual Report on Form 10-K/A”). The interim unaudited consolidated financial statements should be read in conjunction with those audited consolidated financial statements included in our Annual Report on Form 10-K/A.

In the opinion of management, the Company has made all adjustments necessary to present a fair statement of the financial position as of ~~June~~September 30, 2024, results of operations for the three months ended ~~June~~September 30, 2024 and 2023, and cash flows for the three months ended ~~June~~September 30, 2024 and 2023. All significant intercompany transactions and balances are eliminated on consolidation. The results of operations for the three months ended ~~June~~September 30, 2024 are not necessarily indicative of the results of operations for the entire fiscal year.

Recently issued accounting pronouncements

From time to time, new accounting pronouncements are issued by the FASB or other standard setting bodies. Unless otherwise discussed, the Company believes that the impact of recently issued standards that are not yet effective will not have a material impact on its consolidated financial position or results of operations upon adoption.

3.	ACCOUNTS RECEIVABLES

Accounts receivable represent balances from transactions fees receivable generated from financial payment and settlement services such as from the Payment Services Provider, Foreign Exchange (FX) Conversion fees and whitelabelling services.

Services billed are generally settled upon financial services have been rendered. Only limited clients are extended with credits.

As of ~~June~~September 30, 2024, accounts receivable balances of $56,~~758~~001 mainly derived from whitelabelling services. As of December 31, 2023, accounts receivable balances of $59,974 mainly derived from whitelabelling services and commissions receivables.

The company considers accounts receivable to be fully collectible, therefore no impairment is necessary as at ~~June~~September 30, 2024 and ~~December~~ December 31, 2023.

4.	OTHER RECEIVABLES, PREPAYMENTS AND OTHER CURRENT ASSETS

Other receivables, prepayments and other current assets consist of the following:

Schedule of other receivables and other assets

	June 30, 2024		December 31, 2023
	September 30, 2024		December 31, 2023
Other receivables (1)	$	97108,~~162~~190	$	294,780
Deposits (2)	$	752,~~160~~265	$	110,161
Prepayments (3)	$	107,~~989~~698	$	4,510
Common stock not paid (4)	$	—	$	100,000
Total	$	~~183~~118,~~311~~153	$	509,451

(1)

Other receivables primarily represent balances in liquidity solution providers.

	(2)	Deposits represented payments for rental, utilities, and deposit payment to product suppliers.
	(3)	Prepayments mainly consists of prepayment for insurance and IT related fees.

(4)

Common stock not paid consists of the shares issued to CICO as disclosed in our Annual Report on Form 10-K/A for the year ended December 31, 2023.

95. GOODWILL

5.The table ~~GOODWILL~~below sets forth the carrying amount of goodwill for September 30, 2024 and December 31, 2023.

The table below sets forth the carrying amount of goodwill for June 30, 2024 and December 31, 2023.

	As of September 30, 2024		As of December 31, 2023

Gross carrying amount	$	—	$	—
Acquired in business combination ⁽¹⁾		55,794,524		55,794,524
Total		55,794,524		55,794,524
Accumulated impairment	$	(39,136,871)	$	—
Impairment ⁽²⁾		—		(39,136,871)
		—		—

Goodwill, net	$	16,657,653	$	16,657,653

	As of June 30, 2024		As of December 31, 2023
Gross carrying amount	$	—	$	—
Acquired in business combination (1)		55,794,524		55,794,524
Total		55,794,524		55,794,524
Accumulated impairment	$	(39,136,871)	$	—
Impairment (2)		—		(39,136,871)
		—		—
Goodwill, net	$	16,657,653	$	16,657,653

(1)

Goodwill was acquired during the year ended December 31, 2022 resulted from the acquisition of Fintech as disclosed in our Annual Report on Form 10-K/A for the year ended December 31, 2023.

(2)

The Company has adopted a policy of performing its annual goodwill impairment test in the fourth quarter of every year. In connection with the annual goodwill impairment test in the fourth quarter of 2023, the Company estimated the fair value of our FintechAsia reporting unit using the income approach. In the annual 2023 test, the FintechAsia reporting unit exceeded the carrying values by more than 50 percent. The Company performed a qualitative test on our FintechAsia reporting unit and concluded it was more likely than not the fair value of this reporting unit exceeded its carrying value.

During the year ended December 31, 2023, the Company recorded a goodwill impairment charge of $39,136,871 in our FintechAsia reporting unit, primarily due to the surrendering of our credit token license, significant impacts on money broking transactional volume following the cryptocurrency market crash in 2022, and the fair value of share price which is much higher than the fair value of the assets acquired. Both significantly impacted forecasted cash flows used in our analysis. Moreover, operating expenses did not decline proportionally to revenue. In addition, inflationary pressures also caused our forecasted expenses to increase. Furthermore, our discounted cash flows utilized a higher risk-adjusted discount rate for the 2023 impairment test, primarily due to central banks raising interest rates in 2023 and increased country-specific risk due to macroeconomic factors. The Company estimated the fair value of the FintechAsia reporting unit based on income approach. Fair value under the income approach was determined by discounting to present value the estimated future cash flows of the reporting unit. In estimating the future cash flows of the FintechAsia reporting unit, the Company utilized a combination of market and company-specific inputs that a market participant would use in assessing the fair value of the reporting units. The primary market input was revenue growth rates. These rates were based upon historical trends and estimated future growth drivers such as the money brokering, payment solutions, and white labelling growth rate. Significant company-specific inputs included assumptions regarding how the reporting unit could leverage operating expenses as revenue grows. Under the guideline public company methodology, the Company took into consideration specific risk differences between our reporting unit and the comparable companies, such as recent financial performance, size risks and product portfolios, among other considerations. The Company used significant unobservable inputs within the income approach valuation method. These include the discount rate of 25.05%, being the calculated weighted average cost of capital for our company, and the long-term growth rate of 1.50% was based on the annual percentage change of real GDP growth. Significant increases (decreases) in growth rates, control premiums and multiples, assuming no change in discount rates, would result in a significantly higher (lower) fair value measurement. Significant decreases (increases) in discount rates, assuming no changes in growth rates, control premiums and multiples, would result in a significantly higher (lower) fair value measurement.

10The Company estimated the fair value of the FintechAsia reporting unit based on income approach. Fair value under the income approach was determined by discounting to present value the estimated future cash flows of the reporting unit.

~~The~~In ~~Company~~estimating ~~will continue to monitor~~ the fair value of our reporting units in our interim and annual reporting periods. While the policy of the Company on conducting impairment on annual basis stand, it is the directors’ responsibility to ensure that the reports (including annual and quarterly reports) are accurate. Hence, for good corporate governance practice purposes, the directors have also reviewed the fair value of goodwill in both quantitative and qualitative information during this quarterly period. If our estimated cash flows decrease, the Company may have to record further impairment charges in the future. ~~Factors that could result in our~~ cash flows being lower than our current estimates include: 1) decreased revenues caused by unforeseen changes the market, 2) our inability to achieve the estimated operating margins in our forecasts from our restructuring programs, cost saving initiatives, and other unforeseen factors, and 3) the weakening of ~~foreign currencies against~~ the U.S. Dollar. Additionally, changes in the broader economic environment could cause changes to our estimated discount rates and comparable company valuation indicators, which may impact our estimated fair values. Due to the significant carrying amount of goodwill recognized, any further impairment may cause a significant adverse financial impact on the Company that could raise doubt about the Company’s ability to continue as a going concern. For the quarterly period ended June 30, 2024, the management has determined that a quarterly goodwill impairment assessment is not necessary for the following reasons, despite the annualized financial performance of the FintechAsia reporting unit for the full year 2024 being lower than our current estimates: 1. New Clients Onboarding: FintechAsia has onboarded new clients with the potential for significant transaction volumes. The level of contribution from these new clients remains undetermined, ~~as it will depend on~~ the ~~volume of transactions. Based on discussions with clients, the~~ Company ~~believes~~utilized ~~there is still~~ a ~~possibility~~combination of ~~reaching~~market ~~breakeven~~and for FintechAsia by the end of 2024. 2. Cost Saving Initiatives: The costs associated with Fintech are expected to decrease significantly in 2024. These cost savings are expected to be reflected in the Company’s financial performance starting from the quarterly period ending September 30, 2024. The full impact of these costcompany-~~saving~~specific ~~initiatives~~inputs ~~will be more accurately reflected in the Company’s results when the books are closed at year-end. Given these factors, the management believes~~ that ~~conducting~~ a ~~quarterly~~market participant ~~goodwill impairment test~~ would ~~not~~use ~~provide~~in anassessing ~~accurate reflection of~~ the ~~Company’s~~fair ~~financial~~value ~~position~~of ~~and would not align with~~ the ~~adopted~~reporting ~~policy~~units. The ~~year-end~~primary ~~goodwill~~market ~~impairment~~input review for the annual financial statements is based on a complete 12-month period of results, allowing for a more robust assessment of the contracts entered into by the Company. This approach is consistent with the policy adopted for the Company’s goodwill assessment and the impairment provisions for the Form 10-K for the financial year ended December 31, 2023. Management will conduct a more detailed analysis to determine whether further impairment is required when preparing the Form 10-K for the financial year ending December 31, 2024. For the quarterly period ended June 30, 2024, our total assets stood at $20,417,969, while our total stockholders’ equity was ~~$17,025,973.~~revenue ~~For~~growth ~~discussion purposes, assuming a full goodwill impairment of $16,657,653, our total assets would be reduced to $3,760,316, and total stockholders’ equity would decrease to $368,320~~rates. ~~Even~~These rates ~~after~~were ~~this~~based ~~assumed~~upon ~~impairment,~~historical ~~our~~trends ~~total assets would still exceed total liabilities of $3,391,996 by $368,320,~~ and ~~our~~estimated ~~total~~future ~~stockholders’~~growth ~~equity~~drivers ~~would~~such ~~remain~~as ~~positive. Management believes that~~ the ~~going~~money ~~concern basis for the preparation of the financial statements is appropriate~~brokering, ~~even~~payment ~~with a full goodwill impairment (which is highly unlikely~~solutions, ~~as FintechAsia will continue to drive value,~~ and white ~~therefore~~labelling ~~goodwill~~growth ~~will not require a full impairment)~~rate. ~~The~~Significant scenario of full impairment presented above is a conservative assumption to demonstrate that, even in this unlikely case, the Group would still maintain positive total assets and stockholders’ equity. For the quarterly period ended June 30, 2024, the Company reported amounts due to related parties totalling $1,196,146. These loans were obtained to provide the Company with the necessary funds to meet its shortcompany-~~term~~specific ~~financial~~inputs ~~obligations.~~included Toassumptions ~~enhance~~regarding ~~investor~~how ~~confidence,~~ the ~~Company~~reporting ~~intends~~unit tocould ~~negotiate~~leverage operating ~~with~~expenses ~~the~~as ~~related~~revenue parties to secure their continued support by extending the due date of these loans for a period of no less than 12 months, with the assurance that no repayment will be sought until the Company’s liabilities are stabilizedgrows.

11Under the guideline public company methodology, the Company took into consideration specific risk differences between our reporting unit and the comparable companies, such as recent financial performance, size risks and product portfolios, among other considerations.

6The Company used significant unobservable inputs within the income approach valuation method. ~~PROPERTY~~These ~~AND~~include ~~EQUIPMENT~~the discount rate of 25.05%, ~~NET~~being the calculated weighted average cost of capital for our company, and the long-term growth rate of 1.50% was based on the annual percentage change of real GDP growth. Significant increases (decreases) in growth rates, control premiums and multiples, assuming no change in discount rates, would result in a significantly higher (lower) fair value measurement. Significant decreases (increases) in discount rates, assuming no changes in growth rates, control premiums and multiples, would result in a significantly higher (lower) fair value measurement.

~~Property~~The Company will continue to monitor the fair value of our reporting units in our interim and ~~equipment~~annual reporting periods. While the policy of the Company on conducting impairment on annual basis stand, ~~net~~it ~~consist~~is the directors’ responsibility to ensure that the reports (including annual and quarterly reports) are accurate. Hence, for good corporate governance practice purposes, the directors have also reviewed the fair value of goodwill in both quantitative and qualitative information during this quarterly period. If our estimated cash flows decrease, the ~~following~~Company may have to record further impairment charges in the future. Factors that could result in our cash flows being lower than our current estimates include: 1) decreased revenues caused by unforeseen changes the market, 2) our inability to achieve the estimated operating margins in our forecasts from our restructuring programs, cost saving initiatives, and other unforeseen factors, and 3) the weakening of foreign currencies against the U.S. Dollar. Additionally, changes in the broader economic environment could cause changes to our estimated discount rates and comparable company valuation indicators, which may impact our estimated fair values. Due to the significant carrying amount of goodwill recognized, any further impairment may cause a significant adverse financial impact on the Company that could raise doubt about the Company’s ability to continue as a going concern.

	As of June 30, 2024		As of December 31, 2023
Office equipment	$	8,579	$	8,628
Computer equipment		49,406		49,600
Furniture and fittings		4,815		4,824
Software and website		10,173		10,173
		72,973		73,225
Less: Accumulated depreciation		(39,910)		(34,625)
Balance at end of period/year	$	33,063	$	38,600

~~Depreciation~~For the quarterly period ended ~~expenses~~September ~~charged~~30, to2024, the ~~statements~~management ofhas ~~operations~~determined ~~and~~that ~~comprehensive~~a ~~loss~~quarterly goodwill impairment assessment is not necessary for the ~~six~~following reasons, ~~months~~despite ~~periods~~the ~~ended~~annualized ~~June~~financial ~~30,~~performance ~~2024~~of ~~and~~the ~~2023 were~~FintechAsia ~~$5,285~~reporting ~~(three~~unit ~~months:~~for ~~$2,680)~~the ~~and~~full ~~$6,879~~year ~~(three~~2024 ~~months:~~being ~~$3,535)~~lower ~~respectively.~~than our current estimates:

71. ~~ACCRUED~~New ~~EXPENSE~~Clients ~~AND~~Onboarding: ~~OTHER~~FintechAsia ~~PAYABLES~~has onboarded new clients with the potential for significant transaction volumes. The level of contribution from these new clients remains undetermined, as it will depend on the volume of transactions. Based on discussions with clients, the Company believes there is still a possibility of reaching breakeven for FintechAsia by the end of 2024.

~~Accrued expense~~2. ~~and~~Cost ~~other~~Saving ~~payables~~Initiatives: ~~consist~~The costs associated with Fintech are expected to decrease significantly in 2024. The full impact of these cost-saving initiatives will be more accurately reflected in the ~~following:~~Company’s results when the books are closed at year-end.

~~Schedule~~Given these factors, the management believes that conducting a quarterly goodwill impairment test would not provide an accurate reflection of ~~accruals~~the Company's financial position and ~~other~~would ~~payables~~not align with the adopted policy. The year-end goodwill impairment review for the annual financial statements is based on a complete 12-month period of results, allowing for a more robust assessment of the contracts entered into by the Company. This approach is consistent with the policy adopted for the Company’s goodwill assessment and the impairment provisions for the Form 10-K for the financial year ended December 31, 2023. Management will conduct a more detailed analysis to determine whether further impairment is required when preparing the Form 10-K for the financial year ending December 31, 2024.

	As of June 30, 2024		As of December 31, 2023
Provisions and accruals (1)	$	397,176	$	319,939
Others (2)		1,416,565		1,633,221
Balance at end of period/year	$	1,813,741	$	1,953,160

For the quarterly period ended September 30, 2024, our total assets stood at $20,901,487, while our total stockholders' equity was $16,772,432. For discussion purposes, assuming a full goodwill impairment of $16,657,653, our total assets would be reduced to $4,243,834, and total stockholders' equity would decrease to $114,779. Even after this assumed impairment, our total assets would still exceed total liabilities of $4,129,055 by $114,779 and our total stockholders' equity would remain positive. Management believes that the going concern basis for the preparation of the financial statements is appropriate, even with a full goodwill impairment (which is highly unlikely, as FintechAsia will continue to drive value, and therefore goodwill will not require a full impairment). The scenario of full impairment presented above is a conservative assumption to demonstrate that, even in this unlikely case, the Group would still maintain positive total assets and stockholders' equity.

	(1)	Provisions and accruals consists mainly of audit and accountancy fees and includes $52,000 of share options issued to directors at the year ended December 31, 2023.
	(2)	Other payables mainly consists of client funds.

For the quarterly period ended September 30, 2024, the Company reported amounts due to related parties totalling $1,458,808. These loans were obtained to provide the Company with the necessary funds to meet its short-term financial obligations. To enhance investor confidence, the Company intends to negotiate with the related parties to secure their continued support by extending the due date of these loans for a period of no less than 12 months, with the assurance that no repayment will be sought until the Company’s liabilities are stabilized.

~~8. REVENUE~~11

~~Within the current period, the Company mainly derives its revenue from its whitelabelling service~~6. ~~The~~PROPERTY ~~Company~~AND ~~considers~~EQUIPMENT, ~~its performance obligation satisfied and recognizes revenue over time when the service is provided.~~NET

~~Previously,~~Property ~~the Company derived its revenue mainly from transaction fees earned through financial payment~~ and ~~settlement services. For these transaction fee revenues~~equipment, ~~the Company views itself as the agent in these transactions and as a result, records revenue on a~~ net ~~basis.~~ ~~The~~consist ~~Company~~of ~~considers its performance obligation satisfied and recognizes revenue at~~ the ~~point in time the transaction is processed.~~following:

The disaggregation of revenue of the Company by the services rendered for the six months ended June 30, 2024 and 2023 is as follows:

	As of September 30, 2024		As of December 31, 2023

Office equipment	$	8,944	$	8,628
Computer equipment		50,834		49,600
Furniture and fittings		4,880		4,824
Software and website		10,173		10,173
		74,831		73,225
Less: Accumulated depreciation		(43,384)		(34,625)
Balance at end of period/year	$	31,447	$	38,600

	Total
	2024		2023
Payment Services Provider (PSP)		—		360,158
Foreign Exchange (FX) Conversion		27,379		1,043,648
Whitelabelling		198,664		27,016
Referral fees(1)		114,922		—
Total Revenue		340,965		1,430,822

Depreciation expenses charged to the statements of operations and comprehensive loss for the nine months periods ended September 30, 2024 and 2023 were $8,759 (three months: $3,474) and $9,772 (three months $2,893) respectively.

(1) Referral fees is a new revenue stream within 2024 following the discontinue of our EMD agency service in December 2023, to comply with updated regulatory compliance mandates from the United Kingdom7. AsACCRUED aEXPENSE ~~result,~~AND ~~the~~OTHER ~~existing client base of Fintech was transferred to a third party and a revenue share agreement was established.~~PAYABLES

12Accrued expense and other payables consist of the following:

9. Schedule ~~RELATED~~of ~~PARTY~~accruals ~~BALANCES~~and ~~AND~~other ~~TRANSACTIONS~~payables

Schedule of related party transaction

	As of September 30, 2024		As of December 31, 2023

Provisions and accruals ⁽¹⁾	$	542,308	$	319,939
Others ⁽²⁾		1,792,893		1,633,221
Balance at end of period/year	$	2,335,201	$	1,953,160

		As of June 30, 2024		As of December 31, 2023
	(1)	Provisions and accruals consists mainly of audit and accountancy fees and includes $52,000 of share options issued to directors at the year ended December 31, 2023. The Company will fund this expenditure through revenue generated or, if necessary, additional paid-up capital from existing major shareholders.
Amount due to related parties
	(2)	Other payables mainly consists of client funds. These are clients’ funds, which will be returned to clients upon completion of transaction with such clients. This will be paid from the Company’s cash and cash equivalent
Ho Wah Genting Group Sdn Bhd (1)		$	191,714	$	25,748
Shalom Dodoun (2)			724,308		727,624
Natalie Kastberg (3)			1,654		1,668
CICO Digital Solutions Limited (4)			278,470		—
Total Amount due to related parties		$	1,196,146	$	755,040

~~The related party balances are unsecured, interest-free and repayable on demand~~8. REVENUE

~~(1)~~Within the ~~Dato’~~current ~~Lim Hui Boon~~period, the ~~previous president of the~~ Company, ismainly ~~the~~derives ~~director~~its ofrevenue Hofrom ~~Wah~~its ~~Genting~~whitelabelling ~~Group Sdn Bhd (“HWGGSB”)~~service. ~~Dato’~~The ~~Lim~~Company ~~Hui~~considers ~~Boon,~~its isperformance obligation ~~directly~~satisfied ~~related~~and torecognizes Mrrevenue ~~Lim~~over ~~Chun~~time ~~Hoo,~~when the ~~previous~~service ~~CFO~~is ~~and the current CEO and director of the Company~~provided.

MrPreviously, ~~Lim~~the ~~Chun~~Company ~~Hoo,~~derived ~~the~~its ~~previous~~revenue ~~CFO~~mainly ~~and~~from ~~the~~transaction ~~current~~fees ~~CEO~~earned through financial payment and ~~director~~settlement ofservices. For these transaction fee revenues, the Company views itself as the agent in these transactions and as a result, isrecords revenue on a ~~previous~~net basis. ~~director~~The ofCompany ~~HWGGSB~~considers its performance obligation satisfied and recognizes revenue at the point in time the transaction is processed.

~~The amount due to HWGGSB as at June 30, 2024 and December 31, 2023, were advances made by HWGGSB to the Company.~~12

	(2)	Mr Shalom Dodoun (“Mr Shalom”) was the previous director and CEO of the Company. The amount due to Mr Shalom as at June 30, 2024 and December 31, 2023, were advances made by Mr Shalom to the Company. Mr Shalom agreed to grant the Company an unsecured Sterling term loan facility and the Company shall pay interest on the Loan at the rate of 6% per annum above Barclays Bank Rate.
	(3)	Ms Natalie Kastberg (“Ms Kastberg”), is a current director of Fintech. The amount due to Ms Kastberg as at June 30, 2024 and December 31, 2023, were advances made by Ms Kastberg to the Company.
	(4)	Mr Shalom, the previous director and CEO of the Company, is a shareholder in CICO Digital Solutions Limited (“CICO”). The amount due to CICO as at June 30, 2024, were advances made by CICO to the Company.

The disaggregation of revenue of the Company by the services rendered for the nine months ended September 30, 2024 and 2023 is as follows:

	Nine Months Ended September 30, 2024
	2024		2023
Payment Services Provider (PSP)		—		556,474
Foreign Exchange (FX) Conversion		123,167		1,774,947
Whitelabelling		277,036		46,231
Referral fees⁽¹⁾		160,971		—
Total Revenue		561,174		2,377,652

(51) ~~Total~~Referral ~~payment~~fees ~~made~~is ina new revenue stream within 2024 following the ~~form~~discontinue of ~~compensation,~~our ~~which~~EMD ~~includes~~agency ~~salary,~~service ~~bonus~~in December 2023, ~~stock~~to ~~awards~~comply ~~and~~with ~~all~~updated ~~other~~regulatory ~~compensation~~compliance ~~have~~mandates ~~been~~from ~~made~~the toUnited Kingdom. As a result, the ~~following~~existing ~~officer~~client base of ~~the~~Fintech ~~Company~~was ~~that~~transferred ~~are~~to ~~individually~~a inthird ~~excess~~party ofand ~~$100,000~~a ~~annually:~~revenue share agreement was established.

~~Schedule~~9. ofRELATED ~~officers~~PARTY BALANCES AND TRANSACTIONS

	As of June 30, 2024		As of December 31, 2023
Directors & Officers
Shalom Dodoun – Previous Director, Chief Executive Officer of the Company	$	104,256	$	287,138
Richard Berman – Non-executive Director of the Company (6)	$	60,000	$	100,000

Schedule of related party transaction

(6) Mr Richard Berman (“Mr Berman”), is a current non-executive director of the Company.

	As of September 30, 2024		As of December 31, 2023
Amount due to related parties
Ho Wah Genting Group Sdn Bhd ⁽¹⁾	$	283,517	$	25,748
Shalom Dodoun ⁽²⁾		789,271		727,624
Natalie Kastberg ⁽³⁾		1,754		1,668
CICO Digital Solutions Limited ⁽⁴⁾		384,265		—
Total Amount due to related parties	$	1,458,808	$	755,040

~~10.~~The related ~~COMMITMENTS~~party ~~AND~~balances ~~CONTINGENCIES~~are unsecured, and should there be a going concern issue then the due date of these owing will be extended for a period of no less than 12 months.

~~Capital Commitments~~(1) Dato’ Lim Hui Boon, the previous president of the Company, is the previous director of Ho Wah Genting Group Sdn Bhd (“HWGGSB”). Dato’ Lim Hui Boon, is directly related to Mr Lim Chun Hoo, the previous CFO and the current CEO and director of the Company.

	(1)	Upon the successful uplisting of the Company to Nasdaq, Mr Richard Berman, the non-executive director of the Company, shall be rewarded with Company’s shares, up to a maximum of 1% of the Company’s market capitalization. The number of shares to be issued shall be calculated based on the market share price (as stated on Nasdaq) on the first closing date of the Company listed on Nasdaq.
	(2)	Following the financial year end, the 100,000,000 shares that were issued to CICO for the acquisition of assets as disclosed in our Annual Report on Form 10-K/A for the year ended December 31, 2023, were cancelled and removed from the Company’s issued and outstanding shares of common stock on January 30, 2024. The total issued and outstanding shares of the Company will be reduced to 198,742,643 shares on January 30, 2024.

Mr Lim Chun Hoo, the previous CFO and the current CEO and director of the Company, is a previous director of HWGGSB.

~~ITEM~~Dato’ Lim 2Hui Boon and Mr. ~~MANAGEMENT’S~~Lim ~~DISCUSSION~~Chun ~~AND~~Hoo ~~ANALYSIS~~were OFresigned ~~FINANCIAL~~from ~~CONDITION~~HWGGSB ~~AND~~on ~~RESULTS~~July OF1, ~~OPERATIONS~~2024 and March 11, 2024.

~~You~~The ~~should~~amount ~~read~~due the following discussion and analysis of our financial condition and results of operations together with our unaudited interim condensed consolidated financial statements and the related notes appearing elsewhere in this Quarterly Report on Form 10-Q. In addition to ~~historical~~HWGGSB ~~information,~~as ~~this~~at ~~discussion~~September ~~and analysis contains forward-looking statements that involve risks~~30, ~~uncertainties~~ ~~and~~2024 ~~assumptions. Our actual results may differ materially from those discussed below. Factors that could cause or contribute to such differences include, but are not limited to, those identified below,~~ and ~~those discussed in the section titled “Risk Factors” included in our Annual Report on Form 10-K/A for the fiscal year ended~~ December 31, 2023, aswere ~~may~~advances ~~be amended,~~made ~~supplemented~~by orHWGGSB ~~superseded from time~~ to ~~time by other reports we file with~~ the ~~SEC~~Company. ~~All amounts in this report are in U.S. dollars, unless otherwise noted.~~

Throughout this Quarterly Report on Form 10-Q, references to “we,” “our,” “us,” the “Company,” “Fintech,” or “Fintech Scion” refer to Fintech Scion Limited, individually, or as the context requires, collectively with its subsidiaries.

	(2)	Mr Shalom Dodoun (“Mr Shalom”) was the previous director and CEO of the Company. The amount due to Mr Shalom as at September 30, 2024 and December 31, 2023, were advances made by Mr Shalom to the Company. Mr Shalom agreed to grant the Company an unsecured Sterling term loan facility and the Company shall pay interest on the Loan at the rate of 6% per annum above Barclays Bank Rate. The interest expenses charged to the statements of operations and comprehensive loss for the nine months periods ended September 30, 2024 and 2023 were $48,053 (three months: $16,025) and $42,789 (three months $14,645) respectively.
	(3)	Ms Natalie Kastberg (“Ms Kastberg”), is a current director of Fintech. The amount due to Ms Kastberg as at September 30, 2024 and December 31, 2023, were advances made by Ms Kastberg to the Company.
	(4)	Mr Shalom, the previous director and CEO of the Company, is a shareholder in CICO Digital Solutions Limited (“CICO”). The amount due to CICO as at September 30, 2024, were advances made by CICO to the Company.

~~Overview~~13

~~Fintech Scion Limited~~ (~~“Fintech Scion”, the “Company”, “we”, “our”, or “us”~~5) is aTotal ~~fintech~~payment ~~enterprise~~made ~~poised~~in ~~to revolutionize~~ the ~~financial~~form ~~landscape~~of ~~through~~compensation, ~~our~~which ~~digital~~includes ~~Banking-as-a-Service~~salary, ~~(BaaS)~~bonus, ~~platform. Our~~stock ~~mission~~awards isand toall ~~empower~~other ~~merchants~~compensation byhave ~~furnishing~~been ~~them~~made ~~with~~to anthe ~~integrated~~following ~~suite~~officer of ~~tools,~~the ~~skills,~~Company ~~and solutions~~ that ~~streamline payment~~are ~~services,~~individually ~~unlocking~~in aexcess ~~realm~~ of ~~secure~~$100,000 ~~online, and fully managed transactions and settlements. We currently operate through our wholly-owned subsidiaries based in Malaysia and the United Kingdom.~~annually:

~~At the~~Schedule ~~core~~ of our enterprise lies a sophisticated financial ecosystem, underpinned by a robust technological infrastructure. This infrastructure has been developed with the mission of empowering financial institutions to offer seamless, consolidated experiences across diverse verticals encompassing business-to-business, business-to-consumer, and consumer-to-business domains.officers

	As of September 30, 2024		As of December 31, 2023
Directors & Officers
Shalom Dodoun – Previous Director, Chief Executive Officer of the Company	$	227,289	$	287,138
Richard Berman – Non-executive Director of the Company ⁽⁶⁾	$	90,000	$	100,000

~~In an~~(6) ~~era~~Mr ~~where~~Richard ~~merchants~~Berman ~~are~~(“Mr ~~leveraging an array of software solutions and digital tools to bolster their competitive edge~~Berman”), ~~our role~~is ~~has emerged as~~ a ~~pivotal~~current ~~enabler.~~non-executive ~~The~~director ~~intricate challenge~~ of ~~managing~~the ~~disparate software systems sourced from various providers has become an impediment for merchants of all sizes to seamlessly embrace payments~~Company.

Our current clientele encompasses an array of enterprises and organizations, spanning varied sectors, including, but not limited to the management consultancy services, development of software and programming activities, e-commerce, tours and entertainment operations, information technology and investment banking all with a common objective: to minimize the intricacies and costs associated with fund transfers10. WeCOMMITMENTS ~~extend~~AND ~~our services to online businesses, providing comprehensive solutions encompassing payment collection, cross-border transactions, FX services, and corporate bank accounts.~~CONTINGENCIES

~~Our~~Capital cutting-edge payments platform boasts a comprehensive suite of integrated payment products and services tailored to various channels–be it in-store, online, or through mobile and tablet interfaces. This suite encompasses end-to-end payment processing for an array of payment types, merchant acquiring and issuing, diverse methods of mobile and contactless payments, and QR code-based solutions. Complementary software integrations, virtual international bank account numbers (IBAN), integrated mobile point-of-sale (POS) solutions, risk management tools, and robust reporting and analytics capabilities augment our platform’s offerings.Commitments

Our payment services seamlessly integrating e-money remittance solutions within the global marketplace, spanning open banking and credit card processing to wire transfers. Our unique Software-as-a-Service (SaaS) model empowers clients to focus on their core operations and sales while we handle the intricate aspects of payment processing. This streamlined approach facilitates efficient onboarding, elevates customer retention, and cultivates new revenue streams.

(1)

Upon the successful uplisting of the Company to Nasdaq, Mr Richard Berman, the non-executive director of the Company, shall be rewarded with Company’s shares, up to a maximum of 1% of the Company’s market capitalization. The number of shares to be issued shall be calculated based on the market share price (as stated on Nasdaq) on the first closing date of the Company listed on Nasdaq.

(2)

Following the financial year end, the 100,000,000 shares that were issued to CICO for the acquisition of assets as disclosed in our Annual Report on Form 10-K/A for the year ended December 31, 2023, were cancelled and removed from the Company’s issued and outstanding shares of common stock on January 30, 2024. The total issued and outstanding shares of the Company will be reduced to 198,742,643 shares on January 30, 2024.

~~Our vision~~ITEM ~~transcends boundaries as we aspire to cement our position as a global leader in the payments and banking sphere~~2. ~~Our~~MANAGEMENT’S ~~team, comprising~~DISCUSSION ~~seasoned~~AND ~~experts~~ANALYSIS ~~across~~OF ~~operations,~~FINANCIAL ~~technology,~~CONDITION ~~sales,~~AND ~~legal,~~RESULTS ~~compliance,~~OF ~~and more, forms the backbone of our enterprise.~~OPERATIONS

~~The~~You ~~crux~~should read the following discussion and analysis of our ~~vision~~financial ~~lies~~condition inand ~~simplifying~~results ~~and~~of ~~automating~~operations ~~global~~together ~~fund~~with ~~transfers~~our ~~while~~unaudited interim ~~upholding~~condensed consolidated financial statements and the ~~highest~~related ~~standards~~notes ofappearing ~~security.~~elsewhere in this Quarterly Report on Form We10-Q. ~~endeavor~~In addition to ~~furnish~~historical ~~merchants~~information, ~~with~~this andiscussion ~~all~~and analysis contains forward-~~encompassing~~looking ~~Merchant~~statements ~~Payment~~that ~~Ecosystem~~involve ~~(MPE)~~risks, uncertainties aand ~~unified~~assumptions. ~~platform~~Our ~~catering~~actual results may differ materially from those discussed below. Factors that could cause or contribute to ~~their~~such differences include, but are not limited to, those identified below, and those discussed in the section titled ~~diverse~~“Risk ~~payment~~Factors” ~~needs.~~included ~~Our~~in ~~technology~~our ~~leverages~~Annual Report on Form 10-K/A for the ~~Gateway~~fiscal ~~Cashier~~year ~~Technology~~ended December 31, 2023, as may be amended, supplemented or superseded from time to ~~deliver~~time ~~unparalleled~~by ~~services~~other reports we file with the SEC. All amounts in this report are in U.S. dollars, unless otherwise noted.

~~Our~~Throughout ~~diverse~~this ~~merchant~~Quarterly ~~base~~Report ~~ranges~~on ~~from~~Form ~~small to medium~~10-~~sized enterprises~~Q, orreferences ~~SMEs,~~ to ~~large~~“we,” ~~enterprises~~“our,” ~~spanning~~“us,” ~~sectors~~the ~~such as hospitality~~“Company,” ~~e-gaming~~“Fintech,” ~~consulting,~~or ~~retail,~~“Fintech ~~marketing,~~Scion” ~~and~~refer ~~e-commerce.~~to ~~While~~Fintech weScion ~~are~~Limited, ~~rooted~~individually, inor as the ~~SaaS~~context ~~framework~~requires, ~~our belief in democratizing~~ ~~technology~~collectively ~~has~~with ~~led~~its ~~us to offer an initial free platform, generating revenue through value-added services~~subsidiaries.

Our revenue streams encompass processing fees based on payment volumes, a hybrid model featuring fixed transaction fees and monthly charges, and diverse layers that allow us to cross-sell services and nurture lasting client relationships. Currently, we derive all our revenues from our operating subsidiaries based in Malaysia and the United Kingdom.14

In the competitive landscape, our distinct layers constitute the heart of our approach, underpinned by a commitment to exemplary customer service. We understand the nuanced needs of various merchants and have meticulously curated layers tailored to their requirements, including cutting-edge technology, diverse payment processing, integrated banking, and strategic licensing solutions. These layers collectively form the bedrock of our operations, fostering seamless merchant experiences and propelling us to the forefront of the industry.Overview

AsFintech weScion ~~chart~~Limited ~~our~~(“Fintech ~~course~~Scion”, the “Company”, “we”, ~~stand~~“our”, or “us”) is a fintech enterprise poised to ~~not~~revolutionize ~~only~~the ~~cater~~financial tolandscape through our ~~diverse~~digital ~~clientele~~Banking-as-a-Service ~~but~~(BaaS) platform. Our mission is to ~~exceed~~empower ~~their~~merchants ~~expectations.~~by ~~Our~~furnishing ~~pursuit of~~them ~~excellence~~with ~~remains~~an ~~unwavering~~integrated assuite weof ~~continue~~tools, toskills, ~~innovate~~and solutions that streamline payment services, ~~expand~~unlocking ~~our~~a ~~offerings~~realm of secure, online, and ~~forge~~fully ~~new~~managed ~~partnerships~~transactions toand ~~reshape~~settlements. ~~the~~We ~~payments~~currently operate through our wholly-owned subsidiaries based in Malaysia and ~~banking~~the ~~landscape~~United Kingdom.

15At the core of our enterprise lies a sophisticated financial ecosystem, underpinned by a robust technological infrastructure. This infrastructure has been developed with the mission of empowering financial institutions to offer seamless, consolidated experiences across diverse verticals encompassing business-to-business, business-to-consumer, and consumer-to-business domains.

~~Results~~In an era where merchants are leveraging an array of ~~Operations~~software solutions and digital tools to bolster their competitive edge, our role has emerged as a pivotal enabler. The intricate challenge of managing disparate software systems sourced from various providers has become an impediment for merchants of all sizes to seamlessly embrace payments.

~~Three~~Our ~~Months~~current ~~Ended~~clientele ~~June~~encompasses 30an array of enterprises and organizations, ~~2024~~spanning ~~Compared~~varied sectors, including, but not limited to the ~~Three~~management ~~Months~~consultancy ~~Ended~~services, ~~June~~development 30of software and programming activities, ~~2023~~e-commerce, tours and entertainment operations, information technology and investment banking all with a common objective: to minimize the intricacies and costs associated with fund transfers. We extend our services to online businesses, providing comprehensive solutions encompassing payment collection, cross-border transactions, FX services, and corporate bank accounts.

~~Revenue~~Our cutting-edge payments platform boasts a comprehensive suite of integrated payment products and services tailored to various channels–be it in-store, online, or through mobile and tablet interfaces. This suite encompasses end-to-end payment processing for an array of payment types, merchant acquiring and issuing, diverse methods of mobile and contactless payments, and QR code-based solutions. Complementary software integrations, virtual international bank account numbers (IBAN), integrated mobile point-of-sale (POS) solutions, risk management tools, and robust reporting and analytics capabilities augment our platform's offerings.

~~Revenue~~Our ~~generated~~payment byservices ~~the~~seamlessly ~~Company~~integrating ~~during~~e-money ~~the~~remittance ~~three~~solutions ~~months~~within ~~ended~~the ~~June~~global 30marketplace, ~~2024~~spanning ~~consists~~open ofbanking ~~three~~and credit ~~components,~~card ~~including:~~processing ~~Payment~~to wire transfers. Our unique Software-as-a-Service ~~Provider~~ (~~PSP~~SaaS), ~~Foreign~~model ~~Exchange~~empowers ~~(FX)~~clients ~~Conversion~~to focus on their core operations and ~~Whitelabelling.~~sales ~~The~~while ~~revenue~~we ~~generated~~handle ~~from~~the ~~each~~intricate ~~component~~aspects isof ~~outlined~~payment inprocessing. This streamlined approach facilitates efficient ~~the~~onboarding, ~~following~~elevates ~~table~~customer retention, and cultivates new revenue streams.

	Three Months Ended June 30, 2024
	2024		2023
Payment Services Provider (PSP)		—		182,333
Foreign Exchange (FX) Conversion		322		384,779
Whitelabelling		48,546		16,516
Referral fees(1)		32,703		—
Total Revenue		81,571		583,628

Our vision transcends boundaries as we aspire to cement our position as a global leader in the payments and banking sphere. Our team, comprising seasoned experts across operations, technology, sales, legal, compliance, and more, forms the backbone of our enterprise.

~~(1)~~The crux ~~Referral~~of ~~fees~~our isvision alies ~~new~~in ~~revenue~~simplifying ~~stream~~and ~~within~~automating ~~2024~~global ~~following~~fund ~~the~~transfers ~~discontinue~~while ofupholding ~~our~~the ~~EMD~~highest ~~agency~~standards ~~service~~of insecurity. We ~~December~~endeavor ~~2023,~~ to ~~comply~~furnish merchants with ~~updated~~an ~~regulatory~~all-encompassing ~~compliance~~Merchant ~~mandates~~Payment ~~from~~Ecosystem ~~the~~(MPE), ~~United Kingdom. As~~ a ~~result,~~unified ~~the~~platform ~~existing~~catering ~~client~~to ~~base~~their diverse ofpayment ~~Fintech~~needs. ~~was~~Our ~~transferred~~technology toleverages athe ~~third~~Gateway ~~party~~Cashier ~~and~~Technology ato ~~revenue~~deliver ~~share~~unparalleled ~~agreement was established~~services.

WeOur ~~recognized~~diverse ~~$81,571~~merchant ~~and~~base ~~$583,628~~ranges ~~revenues~~from ~~for~~small ~~the~~to ~~three~~medium-sized ~~months~~enterprises, ~~ended~~or ~~June 30~~SMEs, ~~2024~~to ~~and~~large ~~2023~~enterprises, ~~respectively.~~spanning ~~The~~sectors ~~decrease~~such inas ~~revenue~~hospitality, ~~was primarily due to lower~~e-~~than-expected~~gaming, ~~transactions~~consulting, ~~for~~retail, ~~both~~marketing, ~~the Payment Services Provider~~ and ~~Foreign Exchange (FX) Conversion services~~e-commerce. ~~There~~While ~~has~~we ~~been~~are ~~less~~rooted ~~onboarding of new clients~~ in the ~~second~~SaaS ~~quarter~~framework, ~~of 2024 for~~ our ~~services,~~belief ~~which~~in ~~mean we are primarily~~democratizing ~~servicing~~technology ~~existing~~has ~~clients.~~led ~~Additionally,~~us ~~the discontinue of our EMD agency service in December 2023,~~ to ~~comply~~offer ~~with~~an ~~updated~~initial ~~regulatory compliance~~free ~~mandates from the United Kingdom~~platform, ~~also~~generating ~~partially~~revenue ~~impacted~~through ~~our~~value-added ~~operations~~services. ~~Revenue recognized during the period is mainly from whitelabelling provided by FintechAsia and referral fees provided by FDS.~~

~~Cost~~Our ofrevenue ~~Revenue~~streams encompass processing fees based on payment volumes, a hybrid model featuring fixed transaction fees and monthly charges, and diverse layers that allow us to cross-sell services and nurture lasting client relationships. Currently, we derive all our revenues from our operating subsidiaries based in Malaysia and the United Kingdom.

~~Cost~~In ofthe ~~revenue~~competitive ~~for~~landscape, ~~the~~our ~~three~~distinct ~~months~~layers ~~ended~~constitute ~~June~~the ~~30,~~heart ~~2024~~of ~~was~~our ~~$21~~approach,~~805~~ ~~compared~~underpinned by a commitment to ~~$42,470~~exemplary customer ~~for~~service. We understand the ~~three~~nuanced ~~months~~needs ~~ended~~of ~~June~~various ~~30,~~merchants ~~2023.~~and have meticulously curated layers tailored to their ~~The~~requirements, ~~decrease~~including incutting-edge ~~cost~~technology, ofdiverse ~~revenue~~payment isprocessing, ~~not~~integrated inbanking, ~~proportion~~and tostrategic licensing solutions. These layers collectively form the ~~decrease~~bedrock inof ~~revenue~~our ~~due~~operations, tofostering anseamless ~~increase~~merchant inexperiences ~~processing~~and ~~fees~~propelling ~~for~~us ~~our~~to the ~~business~~forefront ~~transaction~~of the industry.

~~Gross Profit~~15

~~Gross~~As ~~profit~~we ~~for~~chart ~~the~~our ~~three~~course, ~~months~~we ~~ended~~stand ~~June~~poised ~~30,~~to ~~2024~~not ~~was~~only ~~$59,766~~cater ~~compared~~ to ~~$541,158~~our ~~for~~diverse ~~the~~clientele ~~period~~but ~~ended~~to ~~June~~exceed ~~30,~~their ~~2023~~expectations. ~~The~~Our ~~decrease~~pursuit ~~resulted~~of ~~primarily~~excellence ~~from~~remains ~~the~~unwavering ~~lower-than-expected~~as ~~revenue~~we ~~generated~~continue ~~from~~to innovate, expand our ~~services~~offerings, and forge new partnerships to reshape the payments and banking landscape.

~~Operating~~Results ~~Expenses~~of Operations

~~For~~Three ~~the~~Months ~~three~~Ended ~~months~~September ~~ended June~~ 30, 2024, weCompared ~~incurred total operating expenses in the amount of $409,548 compared~~ to ~~$900,620~~Three ~~for the~~Months ~~three~~Ended ~~months~~September ~~ended June~~ 30, 2023. The decrease of $491,072 or 55% was mainly attributed to the significant decrease in the general and administrative expenses of Fintech. This includes a $142,272 or 86%, decrease of platform development fees, a $79,194 or 77% decrease of rent expenses, and a $30,856 or 31% decrease of consultation fees.

16Revenue generated by the Company during the three months ended September 30, 2024 consists of three components, including: Payment Service Provider (PSP), Foreign Exchange (FX) Conversion and Whitelabelling. The revenue generated from each component is outlined in the following table.

~~Six Months Ended June 30, 2024 Compared to Six Months Ended June 30, 2023~~ Revenue

Revenue

	Three Months Ended September 30, 2024
	2024		2023
Payment Services Provider (PSP)		—		196,316
Foreign Exchange (FX) Conversion		95,788		731,298
Whitelabelling		78,372		19,216
Referral fees⁽¹⁾		46,049		—
Total Revenue		220,209		946,830

	Six Months Ended June 30,
	2024		2023
Payment Services Provider (PSP)		—		360,158
Foreign Exchange (FX) Conversion		27,379		1,043,648
Whitelabelling		198,664		27,016
Referral fees		114,922		—
Total Revenue		340,965		1,430,822

(1)

Referral fees is a new revenue stream within 2024 following the discontinue of our EMD agency service in December 2023, to comply with updated regulatory compliance mandates from the United Kingdom. As a result, the existing client base of Fintech was transferred to a third party and a revenue share agreement was established.

We recognized $~~340~~220,~~965~~209 and $1946,~~430,822~~830 revenues for the ~~six~~three months ended ~~June~~September 30, 2024 and 2023, respectively. The decrease in ~~revenue~~ revenue was primarily due to lower-than-expected transactions for both the Payment Services Provider and Foreign Exchange (FX) ~~Conversion~~ Conversion services. There has been less onboarding of new clients in the ~~second~~third quarter of 2024 for our services, which mean we are primarily servicing existing clients. Additionally, the discontinue of our EMD agency service in December 2023, to comply with updated regulatory compliance mandates from the United Kingdom, also partially impacted our operations. Revenue recognized during the period is mainly from ~~whitelabelling~~foreign exchange conversion provided by FintechAsia and referral fees provided by FDS.

Cost of ~~Sales~~Revenue

Cost of ~~sales~~revenue for the ~~six~~three months ended ~~June~~September 30, 2024 was $588,~~955~~827 compared to $4272,~~505~~486 for the ~~six~~three months ended ~~June~~September 30, 2023,. The decrease in cost of revenue is not in proportion to the decrease in revenue due to ~~increase~~ a change in ~~processing~~the revenue mix towards whitelabelling and referral fees ~~for~~which ~~our~~have ~~business~~lower ~~transaction~~cost of revenue than PSP and FX.

Gross Profit

Gross profit for the ~~six~~three months ended ~~June~~September 30, 2024 was $~~282~~211,~~010~~382 compared to $1874,~~388,317~~344 for the period ended ~~June~~September 30, 2023. The decrease resulted primarily from the lower-than-expected revenue generated from our services ~~and higher cost of revenue~~.

Operating Expenses

For the ~~six~~three months ended ~~June~~September 30, 2024, we incurred total operating expenses in the amount of $1398,~~293,440,~~340 ~~composed~~compared ~~solely~~to ~~of general and administrative expenses. Whilst~~$1, 259,700 for the ~~six~~three months ended ~~June~~September 30, 2023~~, we incurred total operating expenses in the amount of $1,783,986, composed solely of general and administrative expenses~~. The decrease of $~~490~~861,~~546~~360 or 2868% was mainly attributed to the significant decrease in the general and administrative expenses of Fintech. This includes a $369,726 ~~which~~or ~~decreased~~100% bydecrease of platform development fees, a $~~497~~217,~~799~~134 or 5999% decrease of consultancy fees, and a $109,746 or 100% decrease of rent expenses.

~~Liquidity and Capital Resources~~16

AsNine ofMonths ~~June~~Ended ~~30,~~September ~~2024, we had a cash balance of $3,455,972. During the period ended June~~ 30, 2024, ~~net~~Compared cash used in operating activities totaled $656,279. Net cash generated from investing activities totaled $252. Net cash generated by financing activities during the period totaled $341,106. The resulting change in cash for the period was a decrease of $309,987, which was primarily due to ~~cash~~ ~~used~~Nine inMonths ~~operating~~Ended ~~activities.~~September ~~As of June~~ 30, 2024, we had current liabilities of $3,391,996, which was composed of amount due to related parties of $1,196,146, accounts payable of $382,109, and accruals and other payable of $1,813,741. We had net assets of $17,025,973 and $18,322,482 as of June 30, 2024 and December 31, 2023, respectively. For the period ended June 30, 2024, we have recognized goodwill of $16,657,653 compared to $16,657,653 for the year ended December 31, 2023. After completing our annual impairment review for each reporting unit during the fourth quarter of 2023, we concluded that goodwill of Fintech was impaired in the year ended December 31, 2023 and an impairment loss of $39,136,871 was recorded. We have recognized goodwill of $16,657,653 as a result from the acquisition of Fintech during the year ended December 31, 2022. We believe no impairment is required during the period ended June 30, 2024. However, due to the significant carrying amount of goodwill recognized, any indication of impairment that causes losses and give rise to substantial doubt about our ability to continue as going concern.

17Revenue

Cash Flows for the Six Months Ended June 30, 2024 and 2023.

	Nine Months Ended September 30,
	2024		2023
Payment Services Provider (PSP)		—		556,474
Foreign Exchange (FX) Conversion		123,167		1,774,947
Whitelabelling		277,036		46,231
Referral fees		160,971		—
Total Revenue		561,174		2,377,652

We recognized $561,174 and $2,377,652 revenues for the nine months ended September 30, 2024 and 2023, respectively. The decrease ~~following~~in ~~table~~revenue ~~sets~~was ~~forth~~primarily ~~summary~~due ~~cash~~to ~~flow~~lower-than-expected ~~information~~transactions for both the ~~periods~~Payment ~~presented:~~Services Provider and Foreign Exchange (FX) Conversion services. There has been less onboarding of new clients in the third quarter of 2024 for our services, which mean we are primarily servicing existing clients. Additionally, the discontinue of our EMD agency service in December 2023, to comply with updated regulatory compliance mandates from the United Kingdom, also partially impacted our operations. Revenue recognized during the period is mainly from whitelabelling provided by FintechAsia and referral fees provided by FDS.

	Six Months Ended June 30,
	2024			2023
Net (used in) / cash generated by operating activities	$	(656,279	)	$	1,269,493
Net (used in) / cash generated by investing activities	$	252		$	(8,795	)
Net cash generated by / (used in) financing activities	$	341,106		$	(589,994	)
Effect of exchange rates on cash	$	4,934		$	31,063
Change in cash and cash equivalents	$	(309,987	)	$	701,767

Cost of Sales

~~Cash~~Cost ~~Flows~~of ~~from~~sales ~~Operating~~for ~~Activities~~the nine months ended September 30, 2024 was $67,782 compared to $114,991 for the nine months ended September 30, 2023. The decrease in cost of revenue is not in proportion to the decrease in revenue due to an increase in processing fees for our business transaction.

~~For the six months ended June 30, 2024,~~Gross cash used in operating activities was $656,279 which consisted of a net loss for the six months ended June 30, 2024 of $1,201,443. Cash generated by accounts payables was $334,447, other receivables, prepayments and other assets was $326,140, depreciation and amortization of property and equipment and right-of-use assets was $20,780, and accounts receivable was $3,216. Cash used by accrued expense and other payables was $139,419.Profit

~~For~~Gross profit for the ~~six~~nine months ended ~~June~~September 30, ~~2023,~~2024 ~~net~~was ~~cash~~$493,392 ~~generated~~compared byto ~~operating activities was~~ $12,~~269~~262,~~493~~661 ~~which consisted of a net loss~~ for the ~~six~~period ~~months~~ ended ~~June~~September 30, 2023 ~~of $309,155~~. ~~Cash generated from accounts receivables was $1,316,056, other receivables, prepayments~~ ~~and~~The ~~other~~decrease ~~assets~~resulted ~~was~~primarily ~~$699,414,~~from ~~accrued~~the ~~expense and other payables was $499,752, and depreciation and amortization of property and equipment and right~~lower-ofthan-~~use~~expected ~~assets~~revenue ~~was~~generated ~~$16,481.~~from ~~Cash~~our ~~used by accounts payables was $939,555 and inventories was $13,500~~services.

~~Cash~~Operating ~~Flows from Investing Activities~~Expenses

For the ~~six~~nine months ended ~~June~~September 30, 2024, ~~net~~ ~~cash~~we ~~generated~~incurred bytotal ~~investing~~operating ~~activities~~expenses ~~was~~in the amount of $~~252~~1,691,780, ~~which~~composed ~~consisted~~solely of general ~~cash~~and ~~generated~~administrative byexpenses. ~~purchase~~Whilst, for the nine months ended September 30, 2023, we incurred total operating expenses in the amount of ~~property~~$3,043,686, ~~and~~composed ~~equipment~~solely of general and ~~right-~~ administrative expenses. The decrease of~~-use~~ ~~assets~~$1,351,906 or 44% was mainly attributed to the significant decrease in the general and administrative expenses of Fintech, which decreased by $~~252~~1,389,154 or 60%.

~~For~~Liquidity ~~the six months ended June 30, 2023, cash used in investing activities was $8,795 which consisted of cash used in purchase of property~~ and ~~equipment~~Capital ~~and right-of-use assets of $8,795.~~Resources

~~Cash~~As ~~Flows~~of September 30, 2024, we had a cash balance of $4,014,768. During the period ended September 30, 2024, net cash used in operating activities totaled $299,317. Net cash used in investing activities totaled $1,606. Net cash generated by financing activities during the period totaled $603,768. The resulting change in cash for the period was an increase of $248,809, which was primarily due to cash generated by financing activities. As of September 30, 2024, we had current liabilities of $4,129,055, which was composed of amount due to related parties of $1,458,808, accounts payable of $335,046, and accruals and other payable of $2,335,201. We had net assets of $16,772,432 and $18,322,482 as of September 30, 2024 and December 31, 2023, respectively. For the period ended September 30, 2024, we have recognized goodwill of $16,657,653 compared to $16,657,653 for the year ended December 31, 2023. After completing our annual impairment review for each reporting unit during the fourth quarter of 2023, we concluded that goodwill of Fintech was impaired in the year ended December 31, 2023 and an impairment loss of $39,136,871 was recorded. We have recognized goodwill of $16,657,653 as a result from ~~Financing~~the ~~Activities~~acquisition of Fintech during the year ended December 31, 2022. We believe no impairment is required during the period ended September 30, 2024. However, due to the significant carrying amount of goodwill recognized, any indication of impairment that causes losses and give rise to substantial doubt about our ability to continue as going concern.

For the six months ended June 30, 2024, net cash generated by financing activities was $341,106 which consisted of cash generated by proceeds from related parties of $441,106 and cash used in the issuance of shares of $100,000.17

~~For~~Cash ~~the six months ended June 30, 2023, cash used in financing activities was $589,994 which consisted of repayments to related parties of $589,994.~~Flows

~~Off-Balance~~The ~~Sheet~~following ~~Arrangements~~table sets forth summary cash flow information for the periods presented:

We do not have any off-balance sheet arrangements, financing, or other relationships with unconsolidated entities or other persons.

	Nine Months Ended September 30,
	2024		2023
Net (used in) / cash generated by operating activities	$	(299,317)	$	776,545
Net (used in) / cash generated by investing activities	$	(1,606)	$	(10,897)
Net cash generated by / (used in) financing activities	$	603,768	$	(845,440)
Effect of exchange rates on cash	$	(54,036)	$	13,558
Change in cash and cash equivalents	$	248,809	$	(66,234)

~~Critical~~Cash ~~Accounting~~Flows ~~Policies~~from ~~and~~Operating ~~Estimates~~Activities

~~Use~~For the nine months ended September 30, 2024, cash used in operating activities was $299,317 which consisted of ~~Estimates~~a net loss for the nine months ended September 30, 2024 of $1,396,014. Cash generated by other receivables, prepayments and other assets was $391,298, accrued expense and other payables was $382,041, accounts payables was $287,384, depreciation and amortization of property and equipment and right-of-use assets was $32,001, and accounts receivable was $3,973.

~~The~~For ~~preparation of financial statements in conformity with accounting principles generally accepted in~~ the ~~United~~nine ~~States~~months ofended ~~America requires~~September ~~management~~30, to2023, ~~make~~net ~~estimates~~cash ~~and~~generated ~~assumptions~~by ~~that~~operating ~~affect~~activities ~~the~~was ~~reported~~$776,545 ~~amounts~~which consisted of ~~assets~~a ~~and~~net ~~liabilities and the disclosure~~loss offor ~~contingent assets and liabilities as of~~ the ~~date~~nine ofmonths ~~the~~ended ~~financial~~September ~~statements~~30, ~~and~~2023 ~~the reported amounts~~ of ~~revenue and expenses during the reporting period~~$452,187. ~~Management~~Cash ~~bases~~generated ~~its~~from ~~estimates~~accounts onreceivables ~~historical~~was ~~experience~~$1,250,976, ~~and~~other ~~on assumptions believed to be reasonable~~receivables, ~~under~~prepayments ~~the~~and ~~circumstances.~~other ~~The~~assets ~~estimation~~was ~~process~~$749,094, ~~often~~accrued ~~may~~expense ~~yield~~and aother ~~range~~payables ofwas ~~potentially reasonable estimates of the ultimate future outcomes~~$37,152, and ~~management~~depreciation ~~must~~and ~~select~~amortization ~~an amount that falls within that range~~ of ~~reasonable estimates. Estimates are used in the~~ ~~following~~property ~~areas, among others: research~~ and ~~development~~equipment ~~expense recognition, valuation of common shares~~ and ~~stock options, allowances~~ right-of-use ~~deferred tax~~ assets, ~~valuation~~was ~~of debt related instruments~~$27, ~~and cash flow assumptions regarding going concern considerations~~048. ~~Although~~ ~~management~~Cash ~~believes~~used ~~the~~by ~~estimates~~accounts ~~that~~payables ~~have~~was ~~been used are reasonable~~$823,577 ~~actual~~and ~~results~~inventories ~~could~~was ~~vary from the estimates that were used~~$11,961.

18Cash Flows from Investing Activities

~~Recently~~For ~~Issued~~the ~~Accounting~~nine ~~Standards~~months ended September 30, 2024, net cash used in investing activities was $1,606 which consisted of cash used in the purchase of property and equipment and right-of-use assets of $1,606.

~~The~~For ~~recently~~the ~~issued~~nine ~~accounting~~months ~~pronouncements~~ended ~~are~~September ~~included~~30, 2023, cash used in ~~Note~~investing 2activities ~~Unaudited~~was ~~Interim~~$10,897 ~~Financial~~which ~~Statements~~consisted ~~for~~of ~~disclosures~~cash onused ~~accounting~~in purchase ~~policies~~of ~~related~~property toand ~~our~~equipment ~~business~~and right-of-use assets of $10,897.

~~ITEM~~Cash Flows 3.from ~~QUANTITATIVE~~Financing ~~AND~~Activities ~~QUALITATIVE DISCLOSURES ABOUT MARKET RISK~~

~~The~~For ~~Company~~the isnine ~~not~~months ~~required~~ended toSeptember ~~provide~~30, ~~the~~2024, ~~information~~net ~~required~~cash generated by ~~this~~financing ~~Item~~activities aswas it$603,768 iswhich aconsisted ~~“smaller~~of ~~reporting~~cash ~~company~~generated by proceeds from related parties of $703,”768 ~~as defined~~and cash used in ~~Rule~~the ~~12b-2~~issuance of ~~the~~shares ~~Exchange~~of ~~Act~~$100,000.

~~ITEM~~For the 4.nine ~~CONTROLS~~months ~~AND~~ended ~~PROCEDURES~~September 30, 2023, cash used in financing activities was $845,440 which consisted of repayments to related parties of $845,440.

~~Evaluation~~Off-Balance ofSheet ~~Disclosure Controls and Procedures~~Arrangements

We ~~maintain~~do ~~controls~~not ~~and~~have ~~procedures~~any ~~that~~off-balance ~~are~~sheet ~~designed to ensure that information required to be disclosed in the reports that we file or submit under the Securities Exchange Act of 1934 is recorded~~arrangements, ~~processed~~financing, ~~summarized~~or ~~and~~other ~~reported~~relationships ~~within~~with ~~the~~unconsolidated ~~time~~entities periods specified in the SEC’s rules and forms, and that such information is accumulated and communicated to our management including our principal executive and principal financial officer, as appropriate, to allow timely decisions regarding required disclosures. Based upon their evaluation of those controls and procedures performed as of the end of the period covered by this report, our principal executive and principal financial officer concluded that our disclosure controls and procedures were effective in ensuring that: (i) information required to be disclosed by us in reports that we file or ~~submit~~other to the SEC under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in applicable rules and forms and (ii) material information required to be disclosed in our reports filed under the Exchange Act is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate, to allow for accurate and timely decisions regarding required disclosurepersons.

In order to ensure that our subsequent periodic quarterly reports for the financial year 2024 are filed in accordance with effective internal control over financial reporting, the company has temporarily held the filings of these quarterly reports until our Annual Report for the year ended December 31, 2023 is evaluated as effective by management.18

~~For~~Critical ~~the~~Accounting ~~financial~~Policies year ended December 31, 2023, our management concluded that we did not maintain effective internal control over financial reporting, due to a weakness in our internal control over financial reporting, related to the acquisition of Fintech. This weakness was brought to our attention only when we received the SEC Staff Statement on June 11, 2024. In response to this weakness, the management has recognized the impact of the financial statement as described in the Annual Report on Form 10-K/A for the year ended December 31, 2023. Due to this weakness, the Company’s management has expended, and ~~will continue to expend, substantial effort and resources for the remediation and improvement of our internal control over financial reporting.~~Estimates

OnUse October 28, 2024, we filed the Annual Report on Form 10-K/A for the year ended December 31, 2023 with SEC. On November 4, 2024, we received the SEC Staff Statement confirming that they have completed their review of our Form 10-K/A. Hence, we are now filing this Quarterly Report for the period ended June 30, 2024 after the quarterly evaluation on our internal control over financial reporting has been completed, as described below.Estimates

19The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Management bases its estimates on historical experience and on assumptions believed to be reasonable under the circumstances. The estimation process often may yield a range of potentially reasonable estimates of the ultimate future outcomes, and management must select an amount that falls within that range of reasonable estimates. Estimates are used in the following areas, among others: research and development expense recognition, valuation of common shares and stock options, allowances of deferred tax assets, valuation of debt related instruments, and cash flow assumptions regarding going concern considerations. Although management believes the estimates that have been used are reasonable, actual results could vary from the estimates that were used.

~~Management’s~~Recently ~~Quarterly~~Issued ~~Report~~Accounting ~~on Internal Control over Financial Reporting.~~ Standards

~~Lim~~The ~~Chun~~recently ~~Hoo,~~issued ~~our~~accounting ~~Chief~~pronouncements ~~Executive~~are ~~Officer~~included ~~(“CEO”), is responsible for establishing and maintaining adequate internal control over financial reporting. Internal control over financial reporting is defined~~ in ~~Rule~~Note ~~13a-15(f)~~2 ~~and~~Unaudited ~~15d-15(f)~~Interim ~~promulgated~~Financial ~~under the~~Statements Securities Exchange Act of 1934 as a process designed by, or under the supervision of, our principal executive and principal financial officer and effected by our board of directors, management and other personnel, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for ~~external~~disclosures ~~purposes~~on ~~in accordance with generally accepted~~ accounting ~~principles and includes those~~ policies ~~and~~related ~~procedures~~to ~~that:~~our business.

a)ITEM ~~Ensuring~~3. ~~that~~QUANTITATIVE ~~the~~AND ~~management~~QUALITATIVE ofDISCLOSURES ~~each~~ABOUT ~~subsidiary~~MARKET ~~pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of our assets;~~RISK

b)The Company ~~Exercising~~is ~~the~~not ~~rights~~required asto provide the ~~CEO~~information ofrequired ~~Company~~by tothis ~~oversee~~Item ~~all~~as ~~internal~~it ~~control’s~~is ~~function,~~a ~~instruct~~“smaller ~~amendment~~reporting ~~to policy and procedures~~company,” ~~carry~~as defined ~~out~~in ~~internal~~Rule ~~control~~12b-2 ~~audit and other necessary means on each~~ of the ~~subsidiary to ensure that it is consistent with the Securities~~ Exchange Act ~~of 1934;~~.

c)ITEM ~~Provide~~4. ~~reasonable~~CONTROLS ~~assurance~~AND by involving in the subsidiary’s material decision-making process that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that our receipts and expenditures are being made only in accordance with authorizations of management and our directors; andPROCEDURES

~~d) Provide reasonable assurance regarding prevention or timely detection~~ Evaluation of ~~unauthorized~~Disclosure ~~acquisition,~~Controls ~~use or disposition of our assets that could have a material effect on the financial statements. All material acquisition~~ and ~~disposal of subsidiary’s asset shall be approved by the board of director of the Company.~~Procedures

e)We maintain ~~Because~~controls and procedures that are designed to ensure that information required to be disclosed in the reports that we file or submit under the Securities Exchange Act of ~~its~~1934 ~~inherent~~is ~~limitations~~recorded, ~~our~~processed, ~~internal~~summarized ~~control~~and ~~over~~reported ~~financial~~within ~~reporting~~the ~~may~~time ~~not~~periods specified ~~prevent~~in orthe ~~detect~~SEC’s ~~misstatements.~~rules ~~Therefore~~and forms, ~~even~~and ~~those~~that ~~systems~~such ~~determined~~information is accumulated and communicated to beour ~~effective~~management ~~can~~including our ~~provide~~principal ~~only~~executive ~~reasonable~~and ~~assurance~~principal ~~with~~financial ~~respect~~officer, as appropriate, to ~~financial~~allow ~~statement~~timely ~~preparation~~decisions ~~and~~regarding ~~presentation~~required disclosures. Based ~~Projections~~upon oftheir ~~any~~ evaluation of ~~effectiveness~~those tocontrols ~~future~~and ~~periods~~procedures ~~are~~performed ~~subject~~as toof the ~~risk~~end of the period covered by this report, our principal executive and principal financial officer concluded that our disclosure controls ~~may~~and ~~become~~procedures ~~inadequate~~were ~~because~~effective ofin ~~changes~~ensuring that: (i) information required to be disclosed by us in ~~conditions,~~reports that we file or ~~that~~submit to the ~~degree~~SEC ~~goodwill~~under ofthe ~~compliance~~Exchange ~~with~~Act is recorded, processed, summarized and reported within the ~~policies~~time orperiods ~~procedures~~specified ~~may~~in ~~deteriorate~~applicable rules and forms and (ii) material information required to be disclosed in our reports filed under the Exchange Act is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate, to allow for accurate and timely decisions regarding required disclosure.

~~Our~~In ~~Chief~~order ~~Executive~~to ~~Officer~~ensure ~~assessed~~that ~~the~~our ~~effectiveness~~subsequent ofperiodic ~~our~~quarterly ~~internal~~reports ~~control~~for ~~over~~the financial ~~reporting~~year ~~as of June 30,~~ 2024. Inare ~~making this~~filed ~~assessment, management used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”)~~ in ~~Internal~~ ~~Control~~accordance -with ~~Integrated Framework (2013). A material weakness, as defined by SEC~~effective ~~rules,~~internal ~~is a~~ control ~~deficiency,~~over orfinancial ~~combination of control deficiencies~~reporting, ~~such that there is a reasonable possibility that a material misstatement of~~ the ~~annual~~company ~~or interim financial statements will not be prevented or detected on a timely basis. Our management~~ has ~~carried~~temporarily ~~out~~held ~~an evaluation, with~~ the ~~participation~~filings ~~and~~of ~~under~~these ~~the~~quarterly ~~supervision~~reports ofuntil our ~~Chief Executive Officer (“CEO”)~~Annual ~~and~~Report ~~Chief~~for ~~Financial Officer (“CFO”), of~~ the ~~effectiveness~~year ofended ~~the~~December ~~design and operation of our disclosure controls and procedures. Based upon their participation in that evaluation~~31, ~~the~~2023 ~~CEO~~is ~~and~~evaluated ~~CFO~~as ~~concluded that the disclosure controls and procedures were~~ effective asby ~~of June 30, 2024~~management.

~~Accordingly~~For ~~management~~the ~~believes,~~financial ~~based~~year onended ~~its~~December ~~knowledge~~31, ~~that~~2023, ~~(1)~~our ~~this~~management ~~report~~concluded ~~does~~that we did not ~~contain~~maintain ~~any~~effective ~~untrue~~internal ~~statement~~control ofover financial reporting, due to a ~~material~~weakness ~~fact~~in ~~or omit~~our tointernal ~~state~~control aover ~~material~~financial ~~face~~reporting, ~~necessary~~related to ~~make~~ the ~~statements~~acquisition ~~made~~of ~~not~~Fintech. This ~~misleading~~weakness ~~with~~was ~~respect~~brought to our attention only when we received the ~~period~~SEC ~~covered~~Staff byStatement on June 11, 2024. In response to this ~~report~~weakness, ~~and~~the ~~(2)~~management ~~the~~has ~~financial~~recognized ~~statements,~~the ~~and~~impact ~~other~~of the financial ~~information~~statement ~~included~~as described in ~~this~~the ~~report,~~Annual ~~fairly~~Report ~~present~~on inForm ~~all material~~10-K/A ~~respects~~for ~~our~~the ~~financial~~year ~~condition~~ended December 31, ~~results~~2023. ofDue ~~operations~~to this weakness, the Company’s management has expended, and ~~cash~~will ~~flows~~continue to expend, substantial effort and resources for the ~~years~~remediation and ~~periods~~improvement ~~then~~of ~~ended~~our internal control over financial reporting.

This report does not include an attestation report of our independent registered public accounting firm regarding internal control over financial reporting. Management’s report was not subject to attestation by our independent registered public accounting firm pursuant to rules of the SEC that permit us to provide only management’s report in this report.19

~~Changes~~On inOctober ~~Internal~~28, ~~Controls~~2024, we filed the Annual Report on Form 10-K/A for the year ended December 31, 2023 with SEC. On November 4, 2024, we received the SEC Staff Statement confirming that they have completed their review of our Form 10-K/A. Hence, we are now filing this Quarterly Report for the period ended September 30, 2024 after the quarterly evaluation on our internal control over financial reporting has been completed, as described below.

~~As discussed above, there were changes in the Company~~Management’s ~~internal control over financial reporting during the most recent fiscal~~ ~~year~~Quarterly ~~that~~Report ~~have~~on ~~affected~~Internal ~~the~~Control ~~effectiveness of the Company’s internal control~~ over ~~financial~~Financial ~~reporting~~Reporting. Our current plans include acquiring enhanced access to accounting literature, research materials and documents, and increasing communication among our personnel, and considering the engagement of third-party professionals to consult with us on the application of complex accounting transactions.

20Lim Chun Hoo, our Chief Executive Officer (“CEO"), is responsible for establishing and maintaining adequate internal control over financial reporting. Internal control over financial reporting is defined in Rule 13a-15(f) and 15d-15(f) promulgated under the Securities Exchange Act of 1934 as a process designed by, or under the supervision of, our principal executive and principal financial officer and effected by our board of directors, management and other personnel, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles and includes those policies and procedures that:

~~PART II~~a) -Ensuring ~~OTHER~~that ~~INFORMATION~~the management of each subsidiary pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of our assets;

~~ITEM~~b) 1.Exercising ~~LEGAL~~the ~~PROCEEDINGS~~rights as the CEO of Company to oversee all internal control’s function, instruct amendment to policy and procedures, carry out internal control audit and other necessary means on each of the subsidiary to ensure that it is consistent with the Securities Exchange Act of 1934;

~~From time~~c) toProvide ~~time,~~reasonable weassurance ~~may~~by ~~become~~involving ~~involved~~ in ~~various~~the ~~lawsuits~~subsidiary’s ~~and~~material ~~legal~~decision-making ~~proceedings,~~process ~~which~~that ~~arise~~transactions inare ~~the~~recorded ~~ordinary~~as ~~course~~necessary ~~of business. Litigation is subject~~ to ~~inherent~~permit ~~uncertainties~~preparation ~~and~~of anfinancial ~~adverse~~statements ~~result~~ in ~~these,~~accordance orwith ~~other~~generally ~~matters~~accepted ~~may~~accounting ~~arise~~principles, ~~from~~and ~~time to time~~ that ~~may~~ ~~harm~~ our ~~business.~~receipts Weand expenditures are ~~currently~~being ~~not~~made ~~aware~~only ~~of any such legal proceedings or claims that will have, individually or~~ in ~~the aggregate,~~accordance awith ~~material~~authorizations ~~adverse~~of ~~effect~~management onand our ~~business,~~directors; ~~financial condition or operating results.~~and

~~ITEM~~d) 1AProvide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of our assets that could have a material effect on the financial statements. ~~RISK~~All ~~FACTORS~~material acquisition and disposal of subsidiary’s asset shall be approved by the board of director of the Company.

~~Risk factors~~e) ~~that~~Because ~~affect~~of ~~our~~its ~~business~~inherent ~~and financial results are discussed in Part I~~limitations, ~~Item 1A “Risk Factors,” in~~ our ~~Annual Report~~internal oncontrol ~~Form~~over ~~10-K/A~~financial ~~for~~reporting ~~the~~may ~~year~~not ~~ended~~prevent ~~December~~or ~~31,~~detect ~~2023~~misstatements. ~~as filed with the SEC on October 28~~Therefore, ~~2024.~~even ~~There have been no material changes in our risk factors from~~ those ~~previously~~systems ~~disclosed~~determined into ~~our~~be ~~Periodic~~effective ~~Reports.~~can ~~You~~provide ~~should~~only ~~carefully~~reasonable ~~consider~~assurance ~~the~~with ~~risks~~respect ~~described in~~to ~~our~~financial ~~Periodic~~statement ~~Reports,~~preparation ~~which~~and ~~could~~presentation. ~~materially~~Projections ~~affect~~of ~~our~~any ~~business,~~evaluation ~~financial~~of ~~condition~~effectiveness orto future ~~results.~~periods ~~The risks described in our Periodic Reports~~ are ~~not~~subject ~~the only risks we face. Additional risks and uncertainties not currently known~~ to usthe orrisk that ~~we currently~~controls ~~deem to be immaterial also~~ may ~~materially~~become ~~adversely~~inadequate ~~affect~~because ~~our~~of ~~business,~~changes ~~financial~~in ~~condition~~conditions, ~~and/~~or ~~operating~~that ~~results. If any of~~ the ~~risks~~degree ~~actually~~goodwill ~~occur,~~of ~~our~~compliance ~~business,~~with ~~financial~~the ~~condition,~~policies ~~and/~~or ~~results~~procedures ofmay ~~operations could be negatively affected~~deteriorate.

~~ITEM~~Our Chief 2Executive Officer assessed the effectiveness of our internal control over financial reporting as of September 30, 2024. In ~~UNREGISTERED~~making ~~SALES~~this OFassessment, ~~EQUITY~~management ~~SECURITIES~~used ~~AND~~the ~~USE~~criteria OFset ~~PROCEEDS~~forth by the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”) in Internal Control - Integrated Framework (2013). A material weakness, as defined by SEC rules, is a control deficiency, or combination of control deficiencies, such that there is a reasonable possibility that a material misstatement of the annual or interim financial statements will not be prevented or detected on a timely basis. Our management has carried out an evaluation, with the participation and under the supervision of our Chief Executive Officer (“CEO”) and Chief Financial Officer (“CFO”), of the effectiveness of the design and operation of our disclosure controls and procedures. Based upon their participation in that evaluation, the CEO and CFO concluded that the disclosure controls and procedures were effective as of September 30, 2024.

~~None~~Accordingly management believes, based on its knowledge, that (1) this report does not contain any untrue statement of a material fact or omit to state a material face necessary to make the statements made not misleading with respect to the period covered by this report, and (2) the financial statements, and other financial information included in this report, fairly present in all material respects our financial condition, results of operations and cash flows for the years and periods then ended.

~~ITEM~~This report 3does not include an attestation report of our independent registered public accounting firm regarding internal control over financial reporting. ~~DEFAULTS~~Management’s ~~UPON~~report ~~SENIOR~~was ~~SECURITIES~~not subject to attestation by our independent registered public accounting firm pursuant to rules of the SEC that permit us to provide only management’s report in this report.

~~None.~~20

~~ITEM~~Changes in 4.Internal ~~MINE SAFETY DISCLOSURES~~Controls

~~Not~~As ~~applicable~~discussed above, there were changes in the Company’s internal control over financial reporting during the most recent fiscal year that have affected the effectiveness of the Company’s internal control over financial reporting. Our current plans include acquiring enhanced access to accounting literature, research materials and documents, and increasing communication among our personnel, and considering the engagement of third-party professionals to consult with us on the application of complex accounting transactions.

~~ITEM~~PART II 5.- OTHER INFORMATION

~~During the~~ITEM fiscal quarter ended June 30, 2024, none of the Company’s directors or executive officers adopted or terminated any contract, instruction or written plan for the purchase or sale of Company securities that was intended to satisfy the affirmative defense conditions of Rule 10b5-1~~(c)~~. orLEGAL ~~any “non-Rule 10b5-1 trading arrangement.”~~PROCEEDINGS

21From time to time, we may become involved in various lawsuits and legal proceedings, which arise in the ordinary course of business. Litigation is subject to inherent uncertainties and an adverse result in these, or other matters may arise from time to time that may harm our business. We are currently not aware of any such legal proceedings or claims that will have, individually or in the aggregate, a material adverse effect on our business, financial condition or operating results.

ITEM 61A. ~~EXHIBITS~~RISK FACTORS

Exhibit Number	Description of Exhibit
31.1*	Certification of the Chief Executive Officer pursuant to Rule 13a-14(a) of the Exchange Act, as adopted pursuant to Section 302(a) of the Sarbanes-Oxley Act of 2002
31.2*	Certification of the Chief Financial Officer pursuant to Rule 13a-14(a) of the Exchange Act, as adopted pursuant to Section 302(a) of the Sarbanes-Oxley Act of 2002
32.1**	Certification of the Chief Executive Officer and Chief Financial Officer pursuant to Rule 13a-14(b) of the Exchange Act and 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101.INS*	Inline XBRL Instance Document
101.SCH*	Inline XBRL Taxonomy Extension Schema Document
101.CAL*	Inline XBRL Taxonomy Extension Calculation Linkbase Document
101.LAB*	Inline XBRL Taxonomy Extension Labels Linkbase Document
101.PRE*	Inline XBRL Taxonomy Extension Presentation Linkbase Document
101.DEF*	Inline XBRL Taxonomy Extension Definition Linkbase Document
104*	Cover Page Interactive Data File – the cover page from the Registrant’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2024, is formatted in Inline XBRL and included in the Exhibit 101 Inline XBRL Document Set

Risk factors that affect our business and financial results are discussed in Part I, Item 1A “Risk Factors,” in our Annual Report on Form 10-K/A for the year ended December 31, 2023 as filed with the SEC on October 28, 2024. There have been no material changes in our risk factors from those previously disclosed in our Periodic Reports. You should carefully consider the risks described in our Periodic Reports, which could materially affect our business, financial condition or future results. The risks described in our Periodic Reports are not the only risks we face. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial also may materially adversely affect our business, financial condition, and/or operating results. If any of the risks actually occur, our business, financial condition, and/or results of operations could be negatively affected.

*ITEM ~~Filed~~2. ~~herewith~~ UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

** Furnished herewithNone.

22ITEM 3. DEFAULTS UPON SENIOR SECURITIES

~~SIGNATURES~~None.

~~In accordance~~ITEM ~~with~~4. ~~the~~MINE ~~requirements~~SAFETY ~~of the Securities Exchange Act of 1934, the Registrant has caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.~~ DISCLOSURES

	FINTECH SCION LIMITED
Date: November 19, 2024	By:	/s/ Lim Chun Hoo
	Lim Chun Hoo Chief Executive Officer (Principal Executive Officer)
Date: November 19, 2024	By:	/s/ Colin Ellis
	Colin Ellis Chief Financial Officer (Principal Financial and Accounting Officer)

Not applicable.

23ITEM 5. OTHER INFORMATION

During the fiscal quarter ended September 30, 2024, none of the Company’s directors or executive officers adopted or terminated any contract, instruction or written plan for the purchase or sale of Company securities that was intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) or any “non-Rule 10b5-1 trading arrangement.”

ITEM 6.

EXHIBITS

Exhibit Number		Description of Exhibit

31.1*		Certification of the Chief Executive Officer pursuant to Rule 13a-14(a) of the Exchange Act, as adopted pursuant to Section 302(a) of the Sarbanes-Oxley Act of 2002

31.2*		Certification of the Chief Financial Officer pursuant to Rule 13a-14(a) of the Exchange Act, as adopted pursuant to Section 302(a) of the Sarbanes-Oxley Act of 2002

32.1**		Certification of the Chief Executive Officer and Chief Financial Officer pursuant to Rule 13a-14(b) of the Exchange Act and 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

101.INS*		Inline XBRL Instance Document

101.SCH*		Inline XBRL Taxonomy Extension Schema Document

101.CAL*		Inline XBRL Taxonomy Extension Calculation Linkbase Document

101.LAB*		Inline XBRL Taxonomy Extension Labels Linkbase Document

101.PRE*		Inline XBRL Taxonomy Extension Presentation Linkbase Document

101.DEF*		Inline XBRL Taxonomy Extension Definition Linkbase Document

104*		Cover Page Interactive Data File – the cover page from the Registrant’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2024, is formatted in Inline XBRL and included in the Exhibit 101 Inline XBRL Document Set

* Filed herewith

** Furnished herewith

SIGNATURES

In accordance with the requirements of the Securities Exchange Act of 1934, the Registrant has caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	FINTECH SCION LIMITED

Date: December 4, 2024	By:	/s/ Lim Chun Hoo
	Lim Chun Hoo Chief Executive Officer (Principal Executive Officer)

Date: December 4, 2024	By:	/s/ Colin Ellis
	Colin Ellis Chief Financial Officer (Principal Financial and Accounting Officer)

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