Company: COOT
Filing Date: 2025-05-30
Form Type: 10-Q
Source: 0001641172-25-013065
Chunk: 41

Company: Australian Oilseeds Holdings Ltd
Filing Date: 2025-05-30
Form: 10-Q
Item: Item 8
Chunk 41
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 shares or into which such shares are exchanged or converted the “Escrow
Shares”) are subject to the restrictions of the Escrow Agreement and shall be held by the Escrow Agent, along with any dividends,
distributions or income thereon (together with the Escrow Shares, the “Escrow Property”) in a segregated account (the “Escrow
Account”) and disbursed in accordance with the Business Combination Agreement and the Subscription Escrow Agreement. The Escrow
Shares will be held in the Escrow Account for a period of 12 months after the Closing and shall be the sole and exclusive source of payment
for any post-Closing purchase price adjustment and for any post-closing indemnification claims (other than certain fraud claims and breaches
of AOI and the Sellers’ fundamental representations, as in the Business Combination Agreement). At the 12-month anniversary of
the Closing, on March 21, 2025, all remaining Escrow Property will be released to the Sellers in accordance with the Business Combination
Agreement. However, the amount of Escrow Property equal to the value of any pending and unresolved claims will remain in the Escrow Account
until finally resolved.

The
transaction was unanimously approved by the board of directors of EDOC and was approved at the extraordinary general meeting of EDOC’s
shareholders held on March 6, 2024 (the “Special Meeting”). EDOC’s shareholders also voted to approve all other proposals
presented at the Special Meeting. As a result of the Business Combination, AOI and EDOC became wholly-owned direct subsidiaries of the
Company. On March 22, 2024, the Ordinary Shares and public warrants of the Company (the “Public Warrants”) commenced trading
on the Nasdaq Global Market, or “Nasdaq,” under the symbols “COOT” and “COOTW,” respectively.

Key
Components of Consolidated Statements of Profit or Loss and Other Comprehensive Income

Sales
revenue

Revenues
consist of sales of edible oils, sales of protein meals and tolling revenue from oilseeds crushing activities. The Company’s edible
oil sales comprise of two segments: sales of bulk oils to wholesalers who use it as food ingredients or white labelling; sales of packaged
oils as the company’s own branding to major supermarket channels. Sales of protein meals are bulk sales and mainly distributed
to local farmers and feedlots as protein supplements. Tolling revenue is the service charge fee of crushing oilseeds to produce edible