Swvl p(US:SWVL)2025-04-01 23:43Financial Reporting - The consolidated statement of comprehensive income and cash flows for the year ended December 31, 2023, is reported[1] - The company experienced a material weakness in internal controls over financial reporting, specifically related to the classification of continued and discontinued operations[2] Business Operations - The company aims to provide reliable, safe, cost-effective, and environmentally responsible mass transit solutions through its technology-driven platform[18] Stock Market Activity - Ordinary shares and public warrants began trading on the Nasdaq Capital Market effective July 19, 2023, after transferring from the Nasdaq Global Market[19] - A 1-for-25 reverse stock split was implemented on January 25, 2023, affecting the share and per share amounts reported[20] Market Risks - The company is exposed to market risks including credit risk, currency risk, interest rate risk, and other price risk[605] - Credit risk arises from trade and other receivables, with ongoing credit evaluations performed to mitigate concentration risk[606] - The company is not exposed to material interest rate risk due to the absence of significant borrowings[607] - Foreign currency risk exists for transactions in currencies not pegged to the US dollar, such as Pakistani rupees and Egyptian pounds[608] - As of December 31, 2023, the company was not exposed to price risk as it had no financial instruments sensitive to market prices[610]