Company: OTSA
Filing Date: 2025-07-16
Form Type: F-1/A
Source: 0001213900-25-064434
Chunk: 332

Company: OTSAW Ltd
Filing Date: 2025-07-16
Form: F-1/A
Chunk 332
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 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. 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$60,245 for the period ended October 30, 2024 comprises 6 robots leased to Singapore customers contributing to US$53,745 and 1 robots leased to USA customers contributing to US$6,500. F-52 OTSAW LIMITED AND ITS SUBSIDIARIES
NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
FOR THE SIX MONTHS ENDED OCTOBER 31, 2024 AND 2023 2.Summary of significant accounting policies (cont.) 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 the sale of autonomous mobile robots (AMRs) and related IT products, such as software and hardware components, including spare parts and services related to robot setup and commissioning. Such sales contracts may include single or multiple performance obligations. The single performance obligation is to deliver products or services to the customer. In cases whereby a contract includes multiple performance obligations (e.g., hardware sales bundled with a service contract on project basis), the multiple performance obligations include delivering Robots, delivering Batteries, Installation and Commissioning, User Acceptance Testing and Warranty support. We allocate the transaction price to each performance obligation based on its respective standalone selling price in accordance with IFRS 15. This ensures revenue is recognized appropriately when obligations are fulfilled. Contract