Company: SPPL
Filing Date: 2025-04-08
Form Type: 20-F
Source: 0001641172-25-003217
Chunk: 69

Company: SIMPPLE LTD.
Filing Date: 2025-04-08
Form: 20-F
Item: Item 5
Chunk 69
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  S$                                                   S$                    S$        % change          % change      
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Total income tax (income) expense      -368,542                23,086                                                

Income
tax expense decreased by 1,696% from S$23,086 for the year ended December 31, 2023 to an income tax income of S$368,542 for the year
ended December 31, 2024. This was mainly due to an overprovision for income tax made in prior years which was reversed through the utilization
of the Group’s losses.

  55  

  Table of Contents  

B.
Liquidity and capital resources

Our
liquidity and capital resources are vital to support our ongoing operations, strategic initiatives, and growth objectives. As of December
31, 2024, we had S$417,950 in cash and cash equivalents.

While
the Company believes our current cash position, cash generated from operations, and available credit facilities are adequate to meet
our foreseeable liquidity requirements, we continuously evaluate opportunities to optimize our capital structure and liquidity position.
These may include debt refinancing, equity offerings, strategic partnerships, or asset divestitures, among others.

We anticipate that our operating expenses, together with the increased general administrative expenses of being a public company, will continue to impact the business as we seek to maintain planned geographical growth objectives, enhance existing software solutions, invest in expanding a globally recognised customers base and further diversify our service and technology offerings to futureproof the business in line with market demands.

We
closely monitor market conditions, regulatory developments, and operational performance to assess any potential impact on our liquidity
position. Despite potential economic uncertainties or market volatility, the Company remains committed to prudently managing our liquidity
and capital resources to sustain long-term value creation for our shareholders.”

C.
Research and development, patents and licenses

The
success and future revenue growth of the Company will depend, in part, on its ability to protect its intellectual property. The Company
relies primarily on patents, copyrights, trademarks, as well as confidentiality procedures, to protect its intellectual properties. All
our intellectual property is currently held by SIMPPLE Pte. Ltd.

As
of the date of this report, the Company has rights to three Singapore trademarks related to the logo and brand name.

As
of the date of this report, the Company has been awarded a patent “ SYSTEM AND