Company: OTSA
Filing Date: 2025-01-28
Form Type: DRS
Source: 0001213900-25-007614
Chunk: 126

Company: OTSAW Ltd
Filing Date: 2025-01-28
Form: DRS
Chunk 126
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 ended April 30, 2024. This decrease was primarily due to a change in the consideration value for the acquisition of Swisslog’s AGV business. The acquisition consideration was initially calculated based on the anticipated revenue at the time of the acquisition; however, it is variable and subsequently adjusted based on the actual revenue. Variances between actual and anticipated revenue impact the estimated value of the consideration. Operating expenses As stated above, in the year ended April 30, 2024, certain prior year expenses have been classified to better reflect the function of the expense. US$982,545 relating to Research and development expense (primarily staff costs of R&D personnel) were classified as General and administration expenses in the year ended April 30, 2023, these expenses would have been disclosed as Research and development expense in the year ended April 30, 2023, if to conform with the presentation of year ended April 30, 2024. In addition, US$595,172 relating to Sales and marketing expense 79 (primarily staff costs of sales and marketing personnel) were classified as General and administration expenses in the year ended April 30, 2023, these expenses would have been disclosed as Sales and marketing expenses in the year ended April 30, 2023, if to conform with the presentation of year ended April 30, 2024. As a result, General and administrative expenses would have been deducted by US$1,744,057 for the year ended April 30, 2023 (including US$166,340 regrouping of operation staff costs as discussed in above “Cost of revenues”), if to conform with the presentation of year ended April 30, 2024. General and administrative expenses primarily comprise personnel -relatedcosts for executive management and administrative functions, including finance and accounting, human resources, general corporate expenses, and general insurance. These expenses also include depreciation of property and equipment, amortization of our intangible assets primarily related to favorable rights, contract backlogs, and customer relationships, as well as amortization of right -of -useassets, and are recognized as incurred. For the year ended April 30, 2024, there would have been a decrease in general and administrative expenses of US$117,354, after accounting for the reclassification of prior year presentations. The decline was primarily attributed to the absence of a US$0.77 million obsolescence provision and asset write -offrecorded in the prior year. Additionally, audit and legal