Company: OTSA
Filing Date: 2025-05-23
Form Type: DRS/A
Source: 0001213900-25-047247
Chunk: 272

Company: OTSAW Ltd
Filing Date: 2025-05-23
Form: DRS/A
Chunk 272
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 (USD), which is the Group’s presentation currency. The Group’s functional currencies are Singapore Dollar (SGD), Euro (EUR) and United State Dollar (USD). F-8

OTSAW LIMITED AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024 1.Reporting entity (cont.) Correction of Immaterial Misstatement During the year ended April 30, 2024, the Company identified classification errors in the Consolidated Statement of Loss and Other Comprehensive Loss for the year ended April 30, 2023. Accordingly, the accompanying Consolidated Statement of Loss and Other Comprehensive Loss for the year ended April 30, 2023 has been corrected to conform with 2024 fiscal year presentation for better reflecting the function of the expenses, as presented in below table.

| (In USD)                   |     |             2023 
           Before 
 Reclassification |     | Reclassification |   |     |             2023 
            After 
 Reclassification |
| Cost of revenue            |     |        3,683,844 |     |          166,340 |   |     |        3,850,184 |
| Operating expenses         |     |                  |     |                  |   |     |                  |
| General and administration |     |        7,045,235 |     |       (1,744,057 | ) |     |        5,301,178 |
| Sales and marketing        |     |          900,032 |     |          595,172 |   |     |        1,495,204 |
| Research and development   |     |          233,594 |     |          982,545 |   |     |        1,216,139 |
| Total Operating expenses   |     |        8,178,861 |     |         (166,340 | ) |     |        8,012,521 |

For the year ended April 30, 2023, (1) employment expenses of USD166,340 (salaries and social security benefits), relating to operations onsite staff cost, were reclassified from General and administration expense to Cost of revenue; (2) employment expenses of USD595,172 (salaries and social security benefits), relating to Sales and Marketing team, were reclassified from General and administration expense to Sales and marketing expense; and (