Company: OTSA
Filing Date: 2025-01-28
Form Type: DRS
Source: 0001213900-25-007614
Chunk: 122

Company: OTSAW Ltd
Filing Date: 2025-01-28
Form: DRS
Chunk 122
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 the miscellaneous expense of US$35,996 primarily arose from the write -offof internally developed intangible assets. Government grants of approximately US$0.2 million for the year ended April 30, 2023 primarily represented (i) IRAS Progressive Wage Credit Scheme Fund by the Singapore Government to provide transitional wage support for employers; (ii) IRAS job growth incentive provided by the Singapore Government under the Job Support Scheme to stimulate employment growth; (iii) Grants provided by Infocomm Media Development Authority (“IMDA”) of Singapore to promote the innovation of AMR development; and (iv) P -MaxAssistance Grant under P -MaxProgram to help small and medium -sizedenterprises (SMEs) to better recruit, train, manage and retain their newly -hiredProfessionals, Managers, Executives and Technicians (PMETs). In addition, the Swisslog consideration adjustment represented deferred consideration adjustments due to unmet revenue targets, as specified in the Swisslog’s AGV business acquisition agreement with Swisslog Healthcare Holdings AG. Furthermore, miscellaneous income of US$36,821 represented other ancillary services income, which are not within the scope of revenue.

76 Operating expenses Sales and marketing expenses Sales and marketing expenses include salaries and contributions to retirement benefit schemes for our sales and marketing employees, travel and business development expenses covering both domestic and international travel, as well as other expenditures incurred in the pursuit of business development and expanding our business network. Sales and marketing expenses accounted for 19.5% and 17.6% of our total revenues for the years ended April 30, 2024 and 2023, respectively. General and administration expenses General and administration expenses mainly comprise (i) salaries and contributions to retirement benefit schemes for our administration and operation employees; (ii) services fee for audit, legal, and other professional services; (iii) rental and related expenses for leasing of our office premises; (iv) IT support software subscription and telecommunication support for daily administration work; (v) foreign currency exchange loss (gain) resulting from the exchange difference in remeasuring foreign currency balances; (vi) inventory written off and obsolete provision; and (vii) depreciation of our property, plant and equipment, amortization of our intangible assets primarily related to favorable rights, contract backlogs, and customer relationships, and other office operating expenses. General and administration expenses accounted for 98.0% and 137.8% of our total revenues for the years ended April 30