Company: OTSA
Filing Date: 2025-07-16
Form Type: F-1/A
Source: 0001213900-25-064434
Chunk: 152

Company: OTSAW Ltd
Filing Date: 2025-07-16
Form: F-1/A
Chunk 152
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gements (other than those involving estimates) that have a significant effect on the amounts recognized in the consolidated financial statements. We believe the following accounting estimate involves the most significant judgments used in the preparation of our consolidated financial statements.

91 Critical Accounting Estimates Impairment of intangible assets Intangible assets with finite useful lives are amortized on a straight -linebasis over their estimated useful lives. We estimate the useful lives of intangible assets to be 2 to 10 years. Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset are accounted for by changing the amortization period or method, as appropriate, and are treated as changes in accounting estimates. We also test our intangible assets not yet available for use for impairment annually by comparing their respective carrying amounts with their corresponding recoverable amounts. Recent Accounting Pronouncements See the discussion of the recent accounting pronouncements contained in Note 2 to the consolidated financial statements, “Summary of Significant Accounting Policies”. 92 BUSINESS Overview We are a Singapore -basedcompany specializing in AMRs and robotics solutions, with cutting -edgerobotics software development and manufacturing capabilities. Founded in 2015, we are an innovator in advanced robotics autonomy technologies and next -generationAI. Our mission is to disrupt, revolutionize, and redefine the global facilities management industry with our AI -enabledAMRs and robotics solutions across security, disinfection, last -miledelivery, and healthcare facilities. Leveraging our core software technologies, robot and machine outdoor autonomy expertise, and AI -enabledAMRs, our products empower customers to enhance productivity, reduce reliance on human capital, and seamlessly integrate automation into their facilities management operations. By addressing labor shortages, rising wages, and labor cost challenges, we aim to empower the entire facilities management industry globally. For the fiscal years ended April 30, 2024, and 2023, we reported revenues of US$5.3 million and US$5.1 million, respectively, and net losses of US$6.5 million and US$6.7 million, respectively. For the six months ended October31, 2024, and 2023, we reported revenues of US$1.8million and US$2.8million, respectively, and net losses of US$3.3million and US$2.9million, respectively. To drive growth, we are focused on advancing our core software technologies, the commercialization of our latest Autonomous Navigation System (“ANS”) Version3, Odyssey, tailored for the