Company: OTSA
Filing Date: 2025-03-26
Form Type: DRS/A
Source: 0001013762-25-002776
Chunk: 134

Company: OTSAW Ltd
Filing Date: 2025-03-26
Form: DRS/A
Chunk 134
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30, 2024. Although we have not been significantly affected by inflation at this point in time, we may be affected if Singapore and any other jurisdiction where we operate in the future experience higher rates of inflation in the future. Significant Accounting Policies and Critical Accounting Judgments and Estimates Our consolidated financial statements included elsewhere in this prospectus have been prepared in accordance with International Financial Reporting Standard (“IFRS”). The preparation of our consolidated financial statements requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses. We evaluate our estimates and assumptions on an ongoing basis. Our estimates are based on historical experience and various other assumptions that we believe are reasonable under the circumstances. Actual results may differ from these estimates under different assumptions or conditions.

84 When reading our consolidated financial statements, you should consider our selection of critical accounting policies, the judgment and other uncertainties affecting the application of such policies and the sensitivity of reported results to changes in conditions and assumptions. We are of the opinion that there are no critical judgements (other than those involving estimates) that have a significant effect on the amounts recognized in the consolidated financial statements. We believe the following accounting estimate involves the most significant judgments used in the preparation of our consolidated financial statements. Critical Accounting Estimates Impairment of intangible assets Intangible assets with finite useful lives are amortized on a straight -linebasis over their estimated useful lives. We estimate the useful lives of intangible assets to be 2 to 10 years. Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset are accounted for by changing the amortization period or method, as appropriate, and are treated as changes in accounting estimates. We also test our intangible assets not yet available for use for impairment annually by comparing their respective carrying amounts with their corresponding recoverable amounts. Recent Accounting Pronouncements See the discussion of the recent accounting pronouncements contained in Note 2 to the consolidated financial statements, “Summary of Significant Accounting Policies”. 85 BUSINESS Overview We are a Singapore -basedcompany specializing in AMRs and robotics solutions, with cutting -edgerobotics software development and manufacturing capabilities. Founded in 2015, we are an innovator in advanced robotics autonomy technologies and next -generationAI. Our mission is to disrupt, revolutionize, and redefine the global facilities management industry with our AI -enabledAMRs and robotics solutions across security, disinfection, last -miledelivery, and healthcare facilities. Leveraging our core software technologies, robot and machine outdoor autonomy expertise,