Company: OTSA
Filing Date: 2025-05-23
Form Type: DRS/A
Source: 0001213900-25-047247
Chunk: 140

Company: OTSAW Ltd
Filing Date: 2025-05-23
Form: DRS/A
Chunk 140
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 operating activities for the period ended October31, 2023 was approximately US$0.8million, the difference between our net loss of approximately US$2.8million and the net cash used in operating activities was primarily attributable to (i) depreciation and amortization expense of US$0.7million on property, plant and equipment, intangible assets based on our accounting policies; (ii) finance cost of US$0.4million in relation to loans from related parties; (iii) an increase of approximately US$0.6million in trade and other payables, which is in line with level of sales activities; and partially offset by; (v) an increase in inventories and trade and other receivables of US$0.1million, primarily attributable to billing and incoming inventory for imminent projects. Investing activities Net cash used in investing activities for the periods ended Oct31, 2024 and 2023 was approximately US$0.7million and US$0.1million, respectively, which was entirely spent on the purchase of property, plant and equipment and investment in intangible assets. Financing activities Net cash generated from financing activities for the period ended October31, 2024 was approximately US$2.3million. This was primarily due to (i) proceeds from third party loans of approximately US$1.5million; and (ii) related party loans of approximately US$1.1million; offset by (iii) repayment of related party loans of approximately US$0.1million; and (iv) repayment of lease liabilities of approximately US$0.2million. Net cash generated from financing activities for the period ended October31, 2023 was approximately US$1.0million. This was primarily due to (i) proceeds from related party loans of approximately US$1.4million; offset by (ii) repayment of related party loans of approximately US$0.2million; and (iv) repayment of lease liabilities of approximately US$0.2million. Quantitative and Qualitative Disclosures about Market Risks Foreign currency translation and foreign currency risks Our reporting currency is United States Dollars (“US$”). The functional currency of our company and our subsidiaries incorporated in Cayman, and United States, is US$. The functional currency of our subsidiary incorporated in Germany is euro (“EUR”), and the functional currency of our Singapore subsidiaries is Singapore dollar (“SGD”). Transactions denominated in currencies other than the functional currency are remeasured into the functional currency at the exchange rates