Company: OTSA
Filing Date: 2025-07-16
Form Type: F-1/A
Source: 0001213900-25-064434
Chunk: 236

Company: OTSAW Ltd
Filing Date: 2025-07-16
Form: F-1/A
Chunk 236
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 connection with working capital requirements of the Company, for a loan of S$ 5 ,000,000 at an interest rate of 12% and due on demand . On March 26, 2024, the Company and Mr. Ling Ting Ming agreed to increase the loan by S$2,000,000 to S$7,000,000 with the interest rate remaining unchanged and no maturity date specified. On December 16, 2024, the Company and Mr. Ling Ting Ming agreed to increase the loan by another S$2,000,000 to S$9,000,000 with the interest rate remaining unchanged and no maturity date specified. As of October 31, 2024 and as of the date of this prospectus, we had an outstanding balance under this loan of S$6,829,935 (US$5,153,501) and S$9,226,490 (US$7,231,925),

146 respectively. From May 2, 2024 to July 19, 2024, the Company borrowed US$140,000 from Mr . Ling Ting Ming at an interest rate of 12%. The loan is fully repaid by December 30, 2024. As of October 31, 2024 and as of the date of this prospectus, we had an outstanding balance under this loan of US$154,177 and US$0 respectively. On January 2, 2023, the Company entered into a loan agreement with Serial Microelectronics Pte Ltd, a subsidiary of Serial System International Pte Ltd, a shareholder of the Company, in connection with working capital requirements of the Company, for a loan of US$300,000 with interest rate of 24% and maturity date May 31, 2023. The Company and Serial System International Pte Ltd subsequently agreed in principle that the maturity date will not be enforced. As of October 31, 2024 and as of the date of this prospectus, we had an outstanding balance under this loan of US$214,650 and US$251,887 respectively. During the fiscal year ended April 30, 2024 and on May 1, 2024 , the Company entered into oral loan agreement s with Mr. Goh Way Siong, a shareholder of the Company, in connection with working capital requirements of the Company, for a loan of US$1,243,170 and US$400,000 at an interest rate of 12