Summary by Futu AI
SMX Public Limited Company has successfully acquired an additional 7.5% stake in TrueGold Consortium Pty Ltd., elevating its total ownership to 51.9% and thus obtaining majority control. This strategic move resulted in a gain of $22,164, recognized in SMX's statement of comprehensive loss, and was facilitated by a revaluation of SMX's prior investment in TrueGold. The fair value of TrueGold was assessed using a discounted cash flow method. The acquisition's total cost included the forgiveness of outstanding payables from TrueGold to SMX, totaling approximately $307. The goodwill generated from the acquisition, amounting to $32,957, is expected to yield benefits from the synergies of the combined operations of SMX and TrueGold. TrueGold's identifiable net assets were valued at $10,340, with non-controlling interests...Show More