Company: OTSA
Filing Date: 2025-07-16
Form Type: F-1/A
Source: 0001213900-25-064434
Chunk: 292

Company: OTSAW Ltd
Filing Date: 2025-07-16
Form: F-1/A
Chunk 292
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 Leasing of robots (Robot as a service, or “RaaS”) Revenue from leasing of robot (RaaS) is a subscription -basedmodel allowing customers to lease our robots for a fixed monthly fee, which includes maintenance and support services. Such sales contracts usually include single performance obligation, which is to provide our customer with the right to use our robots for the agreed -uponperiod, as specified in the lease contract. Subscription Renewal is automatic for a certain period of time, but the customer can opt not to renew by giving notice no less than 3months before the expiration of the Initial Term of the contract. The lease can be terminated at any time either at the Company’s or at the customer’s discretion on a 3months’ notice. The Company considers renewal option in determining the lease term. Revenue from these subscriptions is recognized over time on a straight -linebasis over the lease term, which typically ranges from 1 to 5 years. F-12 OTSAW LIMITED AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024 2.Summary of significant accounting policies (cont.) In accordance with IFRS16, our leasing of robots (RaaS) to customers is classified as an operating lease since control of the asset does not transfer to the customer. We retain ownership and responsibility for maintenance, while customers pay a recurring subscription fee. The leased RaaS robots are recorded as non -currentassets on our consolidated balance sheet (included in the Property, plant and equipment), net of accumulated depreciation, while lease payments from customers are recognized as income over the lease period. The lease income of US$139,142 for the year ended April30, 2024 comprises 8 robots leased to Singapore customers contributing to US$81,642 and 2 robots leased to USA customers contributing to US$57,500. Services and maintenance Services and maintenance relates to ongoing support, preventive and corrective maintenance, software updates, and training. Such sales contracts usually include single performance obligation, which is to deliver services to the customer. Renewal option is provided to customers and timing of renewal is at customers’ discretion. Customers can opt to purchase a service and maintenance contract tailored to their requirements, offered at a fixed price without variable consideration. Revenue is recognized over time on a straight -linebasis over the duration of the service contract, typically lasting an average of 5 years. Sales of robots and related IT products This includes