Company: OTSA
Filing Date: 2025-07-16
Form Type: F-1/A
Source: 0001213900-25-064434
Chunk: 138

Company: OTSAW Ltd
Filing Date: 2025-07-16
Form: F-1/A
Chunk 138
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0.46 million to approximately US$1.0 million for the year ended April 30, 2024. This decrease was primarily driven by the non -recurrenceof the commission payment in relation to the fundraising activities. Research and development expenses decreased by approximately $0.3 million, totaling approximately $0.9 million for the year ended April 30, 2024. This decrease is attributable to the capitalization of development -relatedexpenditures for internally generated intangible and tangible assets, in accordance with IFRS guidelines. Finance cost Finance cost increased by approximately US$0.7 million from approximately US$0.7 million for the year ended April 30, 2023 to approximately US$1.4 million for the year ended April 30, 2024. The increase was mainly due to the average interest rate of the director loan increasing from 6% for the year ended April 30, 2023 to 12% for the year ended April 30, 2024. Loss before income taxes We had a loss before income taxes of approximately US$6.5 million and approximately US$6.7 million for the years ended April 30, 2024 and 2023, respectively. The reduction in loss before income taxes was directly attributed to decreased operating expenses, as we focused our efforts on enhancing operational efficiency. However, this decrease was partially offset by an increase in finance costs due to higher interest expenses on director loans, which provide funding for our daily operations. Income tax expense Income tax expenses increased significantly from US$1,656 for the year ended April 30, 2023 to US$71,686 for the year ended April 30, 2024. The increase was mainly due to the rise in security transfer tax, which was caused by our external equity acquisitions and inter -companyequity transactions during the year ended April 30, 2024. Net Loss As a result of the foregoing factors, net loss decreased by 2.7% from US$6.7 million for the year ended April 30, 2023 to US$6.5 million for the year ended April 30, 2024. Segment Results of Operations The following table sets forth the segment revenue and operating profit for the periods presented.

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