Company: OTSA
Filing Date: 2025-07-16
Form Type: F-1/A
Source: 0001213900-25-064434
Chunk: 358

Company: OTSAW Ltd
Filing Date: 2025-07-16
Form: F-1/A
Chunk 358
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 6,688,816 |

The non -currentportion of loans as of October 31, 2024, consists solely of third -partyloans amounting to $1,006,062. (1)On January 2, 2023, the Company entered into a loan agreement with Serial Microelectronics Pte Ltd, a subsidiary of Serial System International Pte Ltd, a shareholder of the Company, in connection with working capital requirements of the Company, for a loan of US$300,000 with interest rate of 24% and maturity date May 31, 2023. The Company and Serial System International Pte Ltd subsequently agreed in principle that the maturity date will not be enforced. As of October 31, 2024 and April 30, 2024, we had an outstanding balance under this loan of US$214,650 and US$193,909 respectively. (2)On April 27, 2023, the Company entered into a loan agreement with Asian Prosperity Singapore Pte. Ltd., a Singapore corporation, in connection with working capital requirements of the Company, for a loan of S$250,000 (US$195,955) at an interest rate of 6%. The loan is repayable June 27, 2023. As of October 31, 2024 and April 30, 2024, we had an outstanding balance under this loan of principal amount of S$384,620 (US$290,214) and S$296,410 (US$217,756) respectively. The owner of Asian Prosperity Singapore Pte. Ltd. is a director of Serial System International Pte Ltd, a shareholder of the Company. (3) On January 1, 2023, the Company entered into an oral loan agreement with Mr. Ling Ting Ming, in connection with working capital requirements of the Company, for a loan of S$5,000,000 at an interest rate of 12% and due on demand. On March26, 2024, the Company and Mr.Ling Ting Ming agreed to increase the loan by S$2,000,000 to S$7,000,000 with the interest rate remaining unchanged and no maturity date specified. On December 16, 2024, the Company and Mr. Ling Ting Ming agreed to increase the loan by another S$2,000,000 to S$9,000,000 with the interest rate remaining unchanged and no maturity date specified. As