Company: OTSA
Filing Date: 2025-07-16
Form Type: F-1/A
Source: 0001213900-25-064434
Chunk: 143

Company: OTSAW Ltd
Filing Date: 2025-07-16
Form: F-1/A
Chunk 143
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$4.6 million for the years ended April 30, 2024 and 2023, respectively. We recorded net cash outflow in operating activities of US$1.5million and US$0.8million for the six months ended October31, 2024 and 2023, respectively.

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As of October31, 2024, we had working capital deficit of US$12million, US$78,336 in cash and cash equivalents, out of which US$59,659 was held in Singapore dollar (“SGD”), and the rest was held in U.S. dollar (“US$”) and Euro Dollar (“EUR”). As of April 30, 2024, we had working capital deficit of US$10.0 million, US$30,331 in cash and cash equivalents, out of which US$28,610 was held in Singapore dollar (“SGD”), and the rest was held in U.S. dollar (“US$”) and Euro Dollar (“EUR”). As of April 30, 2023, we had working capital deficit of US$12.7 million, US$34,982 in cash and cash equivalents, out of which US$15,945 was held in SGD, and the rest was held in US$ and EUR. Our cash and cash equivalents primarily consist of petty cash and balances maintained with banks in Singapore, United States and Germany. We also incurred a net loss before tax of USD 6,458,189 and net operating cash outflow of USD 2,304,590 for the year ended April 30, 2024, and a net loss before tax of USD 3,289,473 and net operating cash outflow of USD 1,545,967 for the six months ended October31, 2024. We have incurred recurring losses and have accumulated losses of $25,108,914 and $21,868,746 as of October31, 2024 and April 30, 2024 respectively. These factors indicate the existence of a material uncertainty which may cast significant doubt over our ability to continue as going concerns. In assessing our liquidity, we monitor and analyze our cash on -handand our operating and capital expenditure commitments. Our liquidity needs are to meet our working capital requirements, operating expenses and capital expenditure obligations. The availability of cash flow from operating activities and loans from our directors and related parties together provide us with sufficient liquidity to meet our ongoing working capital requirements. As of October31, 2024, the