40-F Filing

REAL BROKERAGE INC CIK: 1862461 FY 2023

Filing Information

Form Type	40-F
Accession Number	`0001493152-24-009989`
Period End Date	20231231
Filing Date	20240314
Fiscal Year	2023
Fiscal Period	FY
XBRL Instance	form40-f_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 63 Income Statement 44 Cash Flow Statement 64 Stockholders Equity 24

Balance Sheet 63 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`Cash`	$10.85M	USD	Point-in-time
Cash and cash equivalents	`Cash`	$14.71M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalents`	$12.95M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalents`	$7.48M	USD	Point-in-time
Investments in financial assets	`InvestmentAccountedForUsingEquityMethod`	$7.89M	USD	Point-in-time
Investments in financial assets	`InvestmentAccountedForUsingEquityMethod`	$14.22M	USD	Point-in-time
Trade receivables	`CurrentTradeReceivables`	$1.55M	USD	Point-in-time
Trade receivables	`CurrentTradeReceivables`	$6.44M	USD	Point-in-time
Other receivables	`OtherCurrentReceivables`	$63.00K	USD	Point-in-time
Other receivables	`OtherCurrentReceivables`	$74.00K	USD	Point-in-time
Prepaid expenses and deposits	`CurrentPrepaidExpenses`	$2.13M	USD	Point-in-time
Prepaid expenses and deposits	`CurrentPrepaidExpenses`	$529.00K	USD	Point-in-time
TOTAL CURRENT ASSETS	`CurrentAssets`	$28.37M	USD	Point-in-time
TOTAL CURRENT ASSETS	`CurrentAssets`	$50.51M	USD	Point-in-time
Intangible assets	`IntangibleAssetsOtherThanGoodwill`	$3.44M	USD	Point-in-time
Intangible assets	`IntangibleAssetsOtherThanGoodwill`	$3.71M	USD	Point-in-time
Goodwill	`Goodwill`	$10.26M	USD	Point-in-time
Goodwill	`Goodwill`	$8.99M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipment`	$1.60M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipment`	$1.35M	USD	Point-in-time
Right-of-use assets	`RightofuseAssets`	$73.00K	USD	Point-in-time
Right-of-use assets	`RightofuseAssets`	-	USD	Point-in-time
TOTAL NON-CURRENT ASSETS	`NoncurrentAssets`	$14.04M	USD	Point-in-time
TOTAL NON-CURRENT ASSETS	`NoncurrentAssets`	$15.39M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$64.55M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$43.76M	USD	Point-in-time
Accounts payable	`TradeAndOtherCurrentPayables`	$571.00K	USD	Point-in-time
Accounts payable	`TradeAndOtherCurrentPayables`	$474.00K	USD	Point-in-time
Accrued liabilities	`CurrentAccruedExpensesAndOtherCurrentLiabilities`	$11.87M	USD	Point-in-time
Accrued liabilities	`CurrentAccruedExpensesAndOtherCurrentLiabilities`	$13.37M	USD	Point-in-time
Customer deposits	`DepositsFromCustomers`	$12.95M	USD	Point-in-time
Customer deposits	`DepositsFromCustomers`	$7.48M	USD	Point-in-time
Other payables	`OtherCurrentPayables`	$302.00K	USD	Point-in-time
Other payables	`OtherCurrentPayables`	$1.19M	USD	Point-in-time
Lease liabilities	`CurrentLeaseLiabilities`	$96.00K	USD	Point-in-time
Lease liabilities	`CurrentLeaseLiabilities`	-	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`CurrentLiabilities`	$21.11M	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`CurrentLiabilities`	$27.20M	USD	Point-in-time
Warrants outstanding	`NoncurrentWarrantLiability`	$242.00K	USD	Point-in-time
Warrants outstanding	`NoncurrentWarrantLiability`	$269.00K	USD	Point-in-time
TOTAL NON-CURRENT LIABILITIES	`NoncurrentLiabilities`	$242.00K	USD	Point-in-time
TOTAL NON-CURRENT LIABILITIES	`NoncurrentLiabilities`	$269.00K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$27.46M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$21.35M	USD	Point-in-time
Share premium	`SharePremium`	$62.57M	USD	Point-in-time
Share premium	`SharePremium`	$63.20M	USD	Point-in-time
Stock-based compensation reserves	`StockbasedCompensationReserves`	$25.08M	USD	Point-in-time
Stock-based compensation reserves	`StockbasedCompensationReserves`	$52.94M	USD	Point-in-time
Deficit	`RetainedEarnings`	$-78.20M	USD	Point-in-time
Deficit	`RetainedEarnings`	$-50.70M	USD	Point-in-time
Other reserves	`OtherReserves`	$-469.00K	USD	Point-in-time
Other reserves	`OtherReserves`	$-167.00K	USD	Point-in-time
Treasury stock, at cost	`TreasuryShares`	$257.00K	USD	Point-in-time
Treasury stock, at cost	`TreasuryShares`	$14.96M	USD	Point-in-time
EQUITY ATTRIBUTABLE TO OWNERS	`EquityAttributableToOwnersOfParent`	$36.88M	USD	Point-in-time
EQUITY ATTRIBUTABLE TO OWNERS	`EquityAttributableToOwnersOfParent`	$22.15M	USD	Point-in-time
Non-controlling interests	`NoncontrollingInterests`	$209.00K	USD	Point-in-time
Non-controlling interests	`NoncontrollingInterests`	$263.00K	USD	Point-in-time
TOTAL EQUITY	`Equity`	$37.08M	USD	Point-in-time
TOTAL EQUITY	`Equity`	$22.41M	USD	Point-in-time
TOTAL EQUITY	`Equity`	$27.00M	USD	Point-in-time
TOTAL LIABILITIES AND EQUITY	`EquityAndLiabilities`	$64.55M	USD	Point-in-time
TOTAL LIABILITIES AND EQUITY	`EquityAndLiabilities`	$43.76M	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenue`	$381.76M	USD	Annual
Revenues	`Revenue`	$689.16M	USD	Annual
Commissions and other agent-related costs	`CommissionsAndOtherAgentrelatedCosts`	$349.81M	USD	Annual
Commissions and other agent-related costs	`CommissionsAndOtherAgentrelatedCosts`	$626.28M	USD	Annual
Gross Profit	`GrossProfit`	$31.95M	USD	Annual
Gross Profit	`GrossProfit`	$62.87M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$42.91M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$24.16M	USD	Annual
Marketing expenses	`SalesAndMarketingExpense`	$38.61M	USD	Annual
Marketing expenses	`SalesAndMarketingExpense`	$22.67M	USD	Annual
Research and development expenses	`ResearchAndDevelopmentExpense`	$7.36M	USD	Annual
Research and development expenses	`ResearchAndDevelopmentExpense`	$4.87M	USD	Annual
Operating Loss	`ProfitLossFromOperatingActivities`	$-19.75M	USD	Annual
Operating Loss	`ProfitLossFromOperatingActivities`	$-26.01M	USD	Annual
Other income (expenses), net	`OtherGainsLosses`	$729.00K	USD	Annual
Other income (expenses), net	`OtherGainsLosses`	$-587.00K	USD	Annual
Listing expenses	`ListingExpenses`	$151.00K	USD	Annual
Listing expenses	`ListingExpenses`	-	USD	Annual
Finance expenses, net	`FinanceCosts`	$619.00K	USD	Annual
Finance expenses, net	`FinanceCosts`	$1.17M	USD	Annual
Net Loss	`ProfitLoss`	$-27.22M	USD	Annual
Net Loss	`ProfitLoss`	$-20.34M	USD	Annual
Net income attributable to noncontrolling interests	`ProfitLossAttributableToNoncontrollingInterests`	$-285.00K	USD	Annual
Net income attributable to noncontrolling interests	`ProfitLossAttributableToNoncontrollingInterests`	$-242.00K	USD	Annual
Net Loss Attributable to the Owners of the Company	`ProfitLossAttributableToOwnersOfParent`	$-27.50M	USD	Annual
Net Loss Attributable to the Owners of the Company	`ProfitLossAttributableToOwnersOfParent`	$-20.58M	USD	Annual
Cumulative (gain)/loss on investments in debt instruments classified as FVTOCI reclassified to profit or loss	`GainsLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeNetOfTax`	$-407.00K	USD	Annual
Cumulative (gain)/loss on investments in debt instruments classified as FVTOCI reclassified to profit or loss	`GainsLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeNetOfTax`	$330.00K	USD	Annual
Foreign currency translation adjustment	`GainsLossesOnExchangeDifferencesOnTranslationNetOfTax`	$285.00K	USD	Annual
Foreign currency translation adjustment	`GainsLossesOnExchangeDifferencesOnTranslationNetOfTax`	$-28.00K	USD	Annual
Total Comprehensive Loss Attributable to Owners of the Company	`ComprehensiveIncomeAttributableToOwnersOfParent`	$-20.70M	USD	Annual
Total Comprehensive Loss Attributable to Owners of the Company	`ComprehensiveIncomeAttributableToOwnersOfParent`	$-27.20M	USD	Annual
Total Comprehensive Income Attributable to NCI	`ComprehensiveIncomeAttributableToNoncontrollingInterests`	$242.00K	USD	Annual
Total Comprehensive Income Attributable to NCI	`ComprehensiveIncomeAttributableToNoncontrollingInterests`	$285.00K	USD	Annual
Total Comprehensive Loss	`ComprehensiveIncome`	$-20.46M	USD	Annual
Total Comprehensive Loss	`ComprehensiveIncome`	$-26.91M	USD	Annual
Basic loss per share	`BasicEarningsLossPerShare`	$-0.15	USD	Annual
Basic loss per share	`BasicEarningsLossPerShare`	$-0.12	USD	Annual
Diluted loss per share	`DilutedEarningsLossPerShare`	$-0.15	USD	Annual
Diluted loss per share	`DilutedEarningsLossPerShare`	$-0.12	USD	Annual
Weighted-average shares, basic	`WeightedAverageShares`	178.20M	shares	Annual
Weighted-average shares, basic	`WeightedAverageShares`	178.13M	shares	Annual
Weighted-average shares, diluted	`AdjustedWeightedAverageShares`	178.20M	shares	Annual
Weighted-average shares, diluted	`AdjustedWeightedAverageShares`	178.13M	shares	Annual

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net Loss	`ProfitLoss`	$-27.22M	USD	Annual
Net Loss	`ProfitLoss`	$-20.34M	USD	Annual
Depreciation and amortization	`AdjustmentsForDepreciationAndAmortisationExpense`	$1.13M	USD	Annual
Depreciation and amortization	`AdjustmentsForDepreciationAndAmortisationExpense`	$333.00K	USD	Annual
Impairment of goodwill	`AdjustmentsForImpairmentLossRecognisedInProfitOrLossGoodwill`	-	USD	Annual
Impairment of goodwill	`AdjustmentsForImpairmentLossRecognisedInProfitOrLossGoodwill`	$723.00K	USD	Annual
Equity-settled share-based payments	`AdjustmentsForSharebasedPayments`	$16.20M	USD	Annual
Equity-settled share-based payments	`AdjustmentsForSharebasedPayments`	$38.40M	USD	Annual
Finance costs	`AdjustmentsForFinanceCosts`	$167.00K	USD	Annual
Finance costs	`AdjustmentsForFinanceCosts`	$91.00K	USD	Annual
Trade receivables	`AdjustmentsForDecreaseIncreaseInTradeAccountReceivable`	$-1.29M	USD	Annual
Trade receivables	`AdjustmentsForDecreaseIncreaseInTradeAccountReceivable`	$-4.89M	USD	Annual
Other receivables	`AdjustmentsForDecreaseIncreaseInOtherOperatingReceivables`	$-51.00K	USD	Annual
Other receivables	`AdjustmentsForDecreaseIncreaseInOtherOperatingReceivables`	$11.00K	USD	Annual
Prepaid expenses and deposits	`AdjustmentsForDecreaseIncreaseInPrepaidExpenses`	$-1.60M	USD	Annual
Prepaid expenses and deposits	`AdjustmentsForDecreaseIncreaseInPrepaidExpenses`	$-81.00K	USD	Annual
Accounts payable	`AdjustmentsForIncreaseDecreaseInTradeAccountPayable`	$97.00K	USD	Annual
Accounts payable	`AdjustmentsForIncreaseDecreaseInTradeAccountPayable`	$420.00K	USD	Annual
Accrued liabilities	`AdjustmentsForIncreaseDecreaseInOtherLiabilities`	$7.75M	USD	Annual
Accrued liabilities	`AdjustmentsForIncreaseDecreaseInOtherLiabilities`	$5.32M	USD	Annual
Customer deposits	`AdjustmentsForIncreaseDecreaseInDepositsFromCustomers`	$5.47M	USD	Annual
Customer deposits	`AdjustmentsForIncreaseDecreaseInDepositsFromCustomers`	$4.17M	USD	Annual
Other payables	`AdjustmentsForIncreaseDecreaseInOtherOperatingPayables`	$1.15M	USD	Annual
Other payables	`AdjustmentsForIncreaseDecreaseInOtherOperatingPayables`	$-86.00K	USD	Annual
NET CASH PROVIDED BY OPERATING ACTIVITIES	`CashFlowsFromUsedInOperatingActivities`	$6.00M	USD	Annual
NET CASH PROVIDED BY OPERATING ACTIVITIES	`CashFlowsFromUsedInOperatingActivities`	$19.87M	USD	Annual
Purchase of property and equipment	`PurchaseOfAvailableforsaleFinancialAssets`	$1.41M	USD	Annual
Purchase of property and equipment	`PurchaseOfAvailableforsaleFinancialAssets`	$629.00K	USD	Annual
Acquisition of subsidiaries (Note 4 and 5)	`CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities`	$8.15M	USD	Annual
Acquisition of subsidiaries (Note 4 and 5)	`CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities`	-	USD	Annual
Investment deposits in debt instruments held at FVTOCI	`InvestmentDepositsInDebtInstrumentsHeld`	$6.85M	USD	Annual
Investment deposits in debt instruments held at FVTOCI	`InvestmentDepositsInDebtInstrumentsHeld`	$125.00K	USD	Annual
Investment withdrawals in debt instruments held at FVTOCI	`InvestmentWithdrawalsInDebtInstrumentsHeld`	$847.00K	USD	Annual
Investment withdrawals in debt instruments held at FVTOCI	`InvestmentWithdrawalsInDebtInstrumentsHeld`	$637.00K	USD	Annual
NET CASH USED IN INVESTING ACTIVITIES	`CashFlowsFromUsedInInvestingActivities`	$-9.05M	USD	Annual
NET CASH USED IN INVESTING ACTIVITIES	`CashFlowsFromUsedInInvestingActivities`	$-6.63M	USD	Annual
Purchase of common shares for Restricted Share Unit (RSU) Plan	`PaymentsOfOtherEquityInstruments`	$2.87M	USD	Annual
Purchase of common shares for Restricted Share Unit (RSU) Plan	`PaymentsOfOtherEquityInstruments`	$8.06M	USD	Annual
Shares withheld for taxes	`SharesWithheldForTaxesClassifiedAsFinancingActivities`	$362.00K	USD	Annual
Shares withheld for taxes	`SharesWithheldForTaxesClassifiedAsFinancingActivities`	-	USD	Annual
Proceeds from exercise of stock options	`ProceedsFromExerciseOfOptions`	$502.00K	USD	Annual
Proceeds from exercise of stock options	`ProceedsFromExerciseOfOptions`	$265.00K	USD	Annual
Payment of lease liabilities	`PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities`	$35.00K	USD	Annual
Payment of lease liabilities	`PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities`	$96.00K	USD	Annual
Cash payment for contingent consideration	`CashPaymentForContingentConsiderationClassifiedAsFinancingActivities`	$800.00K	USD	Annual
Cash payment for contingent consideration	`CashPaymentForContingentConsiderationClassifiedAsFinancingActivities`	-	USD	Annual
Dividends paid to non-controlling interest	`DividendsPaidClassifiedAsFinancingActivities`	$19.00K	USD	Annual
Dividends paid to non-controlling interest	`DividendsPaidClassifiedAsFinancingActivities`	$339.00K	USD	Annual
NET CASH USED IN FINANCING ACTIVITIES	`CashFlowsFromUsedInFinancingActivities`	$-3.96M	USD	Annual
NET CASH USED IN FINANCING ACTIVITIES	`CashFlowsFromUsedInFinancingActivities`	$-7.85M	USD	Annual
Net change in cash, cash equivalents and restricted cash	`IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges`	$9.28M	USD	Annual
Net change in cash, cash equivalents and restricted cash	`IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges`	$-10.90M	USD	Annual
Cash, cash equivalents and restricted cash, beginning of year	`CashAndCashEquivalents`	$29.13M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of year	`CashAndCashEquivalents`	$18.33M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of year	`CashAndCashEquivalents`	$27.66M	USD	Point-in-time
Fluctuations in foreign currency	`EffectOfExchangeRateChangesOnCashAndCashEquivalents`	$100.00K	USD	Annual
Fluctuations in foreign currency	`EffectOfExchangeRateChangesOnCashAndCashEquivalents`	$44.00K	USD	Annual
CASH, CASH EQUIVALENTS AND RESTRICTED CASH BALANCE, ENDING BALANCE	`CashAndCashEquivalents`	$29.13M	USD	Point-in-time
CASH, CASH EQUIVALENTS AND RESTRICTED CASH BALANCE, ENDING BALANCE	`CashAndCashEquivalents`	$18.33M	USD	Point-in-time
CASH, CASH EQUIVALENTS AND RESTRICTED CASH BALANCE, ENDING BALANCE	`CashAndCashEquivalents`	$27.66M	USD	Point-in-time
Share-based compensation as part of Expetitle consideration	`SharebasedCompensationAsPartOfConsideration`	$4.33M	USD	Annual
Share-based compensation as part of Expetitle consideration	`SharebasedCompensationAsPartOfConsideration`	-	USD	Annual
Share-based compensation as part of LemonBrew consideration	`SharebasedCompensationAsPartOfBusinessConsideration`	$450.00K	USD	Annual
Share-based compensation as part of LemonBrew consideration	`SharebasedCompensationAsPartOfBusinessConsideration`	-	USD	Annual

Stockholders Equity 24 line items

Line Item	Tag	Value	Unit	Period
Balance	`Equity`	$37.08M	USD	Point-in-time
Balance	`Equity`	$22.41M	USD	Point-in-time
Balance	`Equity`	$27.00M	USD	Point-in-time
Total loss and income	`ProfitLoss`	$-27.22M	USD	Annual
Total loss and income	`ProfitLoss`	$-20.34M	USD	Annual
Total other comprehensive loss	`NetIncomeLossAndComprehensiveIncome`	$-122.00K	USD	Annual
Total other comprehensive loss	`NetIncomeLossAndComprehensiveIncome`	$302.00K	USD	Annual
Member draws	`MemberDraws`	$-339.00K	USD	Annual
Acquisitions of commons shares for Restricted Share Unit (RSU) plan	`AcquisitionsOfCommonsSharesForRestrictedShareUnitRSUPlan`	$-2.87M	USD	Annual
Acquisitions of commons shares for Restricted Share Unit (RSU) plan	`AcquisitionsOfCommonsSharesForRestrictedShareUnitRSUPlan`	$-8.06M	USD	Annual
Release of treasury shares	`SaleOrIssueOfTreasuryShares`	-	USD	Annual
Release of treasury shares	`SaleOrIssueOfTreasuryShares`	-	USD	Annual
Issuance of Restricted Share Units	`IssuanceOfRestrictedShareUnits`	-	USD	Annual
Issuance of Restricted Share Units	`IssuanceOfRestrictedShareUnits`	-	USD	Annual
Exercise of stock options	`IncreaseDecreaseThroughExerciseOfOptions`	$502.00K	USD	Annual
Exercise of stock options	`IncreaseDecreaseThroughExerciseOfOptions`	$4.78M	USD	Annual
Shares withheld for taxes	`SharesWithheldForTaxes`	$-362.00K	USD	Annual
Equity-settled share-based payment	`IncreaseDecreaseThroughSharebasedPaymentTransactions`	$44.65M	USD	Annual
Equity-settled share-based payment	`IncreaseDecreaseThroughSharebasedPaymentTransactions`	$18.87M	USD	Annual
Adjustment arising from change in non-controlling interest	`AdjustmentArisingFromChangeInNoncontrollingInterests`	$265.00K	USD	Annual
Shares issue as part of Expetitle and LemonBrew Acquisitions	`SharesIssueAsPartOfExpetitleAndLemonbrewAcquisitions`	$21.00K	USD	Annual
Balance	`Equity`	$37.08M	USD	Point-in-time
Balance	`Equity`	$22.41M	USD	Point-in-time
Balance	`Equity`	$27.00M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.