Company Overview

Company Description

We are a digital solutions and application development service provider based in Singapore. We derive our revenue from two service lines, IT solutions and platform advertisement services. Our IT solutions include web and mobile application development and maintenance and support services. We provide platform advertisement services through Dee.Market, our online marketplace platform that allows sellers to list and potential buyers to browse offerings of goods and services. Our web and mobile application development consists of creating, revamping and developing user experience and user interface design on designated platforms for merchants and users to conduct transactions and access information. We provide maintenance and support services relating to technical maintenance support contracts after the deployment of our application development services.

We have been providing customized digital solutions and application development services in Singapore since the establishment of Skubbs Private Limited, our operating subsidiary in Singapore, in October 2013. In 2022, our advertising platform, Dee.Market, was created to allow users to gain access to an online advertising marketplace to list offerings or browse offerings of goods or services. Sellers can list offerings of goods and/or services for free or choose to use our paid advertising services to have their listings appear at the top of the search results. After a seller accepts an offer from the buyer, the buyer and the seller will make their own arrangement to complete the transaction outside of the platform which may involve the exchange of cryptocurrency or fiat currency such as USD, as the case may be, as agreed between the parties.

We have experienced rapid growth in recent years. Between the years ended December 31, 2021 and 2022, our total revenue increased by 110.1% from $572,505 to $1,202,842 respectively. For the six months ended June 30, 2022 and 2023, our total revenue increased by 21.2% from $420,909 to $510,226, respectively. As we grew our business, we also successfully controlled costs, thereby increasing our gross profit by 110.2% from $524,099 for the year ended December 31, 2021 to $1,101,680 for the year ended December 31, 2022 and our comprehensive income increased by 107.1% from $342,596 for the year ended December 31, 2021 to $709,489 for the year ended December 31, 2022. Our gross profit increased by 25.5% from $394,090 for six months ended June 30, 2022 to $494,518 for the six months ended June 30, 2023. Our comprehensive income decreased from $222,142 for the six months ended June 30, 2022 to $91,016 for the six months ended June 30, 2023 primarily due to the increase in maintenance and advertising expenses for Dee.Market.

We were incorporated in the Cayman Islands on October 21, 2022. Our registered office in the Cayman Islands is at Cricket Square, Hutchins Drive, P.O. Box 2681, Grand Cayman, KY1-1111 Cayman Islands. Our principal executive office is at 1 Commonwealth Lane, #09-11, One Commonwealth, Singapore 149544. Our telephone number at this location is +65 6717 6688. Our principal website address is www.skubbs.com. Our agent for service of process in the United States is Cogency Global Inc., 122 E. 42nd Street, 18th Floor, New York, New York 10168.