Osteopore : Appendix 4E Preliminary Final Report

For personal use only

Osteopore Limited and Its Controlled Entities Appendix 4E

For the year ended 31 December 2021 1. Company Details

Name of entity:	Osteopore Limited
ABN:	65 630 538 957
Reporting period:	For the year ended 31 December 2021
Previous period:	For the year ended 31 December 2020

2. Results for Announcement to the Market
Revenues from ordinary activities	down	26%	to	$1,113,009
Loss from ordinary activities after tax
attributable to the owners of Osteopore	up	86%	to	$3,620,898
Limited
Loss for the year attributable to the owners	up	86%	to	$3,620,898
of Osteopore Limited

Dividends

No dividend has been declared or paid for the year ended 31 December 2021 (31 December 2020: $nil).

Brief Explanation of Results

The loss for the Group after providing for income tax amounted to $3,620,898 (31 December 2020: $1,945,886).

The net loss after tax from ordinary activities during the year ended 31 December 2021 is mainly attributable to:

• a decline in revenue due to the Group continuing to experience lower demand and market access from COVID-19 restrictions in its key markets in South Korea and Vietnam which was only partially offset by sales from the USA, Singapore, and Oman;
• due to impacts of COVID-19, elective surgery and procedures in many key markets were deferred, access to surgeons/distributors were impacted also resulting in reduced revenue.
• an increase in operational expenditure, including associated employee and marketing costs, to pursue the
  Company's global strategy to penetrate new markets.

The net loss after tax from ordinary activities during the year ended 31 December 2020 includes substantially higher grant and other income than that received in the current year.

3. Net Tangible Assets
	Reporting	Previous
	Period	Period
	(Cents)	(Cents)
Net tangible assets per ordinary security	4.49	7.67

Right-of-use assets recognized under AASB 16 Leases are classified as intangible assets for the purpose of determining the net tangible assets.

4. Details of Associates and Joint Venture Entities

There are no associates or joint venture entities.

Osteopore Limited and Its Controlled Entities

Appendix 4E

For the year ended 31 December 2021

5. Details of Entities over which Control has been Gained or Lost during the Period

Osteopore (Suzhou) Medical Technology Pte Ltd - incorporated 7 July 2021

$

Contribution of such entities to the Group's loss from ordinary activities

before income tax during the reporting period

-

Contribution of such entities to the Group's loss from ordinary activities

before income tax during the previous period

-

For personal use only

There are no other entities over which control has been gained or lost during the period.

6. Audit Qualification or Review

The financial statements are in the process of being audited.

7. Attachments

The Preliminary Financial Report of Osteopore Limited for the year ended 31 December 2021 is attached.

Signed

Mark Leong

Executive Chairman

Singapore

28 February 2022

For personal use only

OSTEOPORE LIMITED

AND ITS CONTROLLED ENTITIES

ACN 630 538 957

PRELIMINARY FINANCIAL REPORT

FOR THE YEAR ENDED 31 DECEMBER 2021

Osteopore Limited and its Controlled Entities

Consolidated Statement of Profit or Loss and Other Comprehensive Income For the year ended 31 December 2021

For personal use only

	Consolidated
Note	31 Dec 2021	31 Dec 2020
	$	$
Revenue	1,113,009	1,504,578
Cost of sales	(301,366)	(549,252)
Gross profit	811,643	955,326
Other income	291,453	724,474
Selling and distribution expenses	(504,686)	(327,184)
Administrative expenses	(4,203,005)	(3,280,900)
Operating loss	(3,604,595)	(1,928,284)
Finance costs	(16,303)	(17,602)
Loss before income tax	(3,620,898)	(1,945,886)
Income tax benefit	-	-
Loss after income tax	(3,620,898)	(1,945,886)
Other comprehensive income
Items that may be reclassified subsequently to profit or loss
Foreign currency translation	(86,039)	(64,625)
Total comprehensive loss attributable to the owners	(3,706,937)	(2,010,511)
Basic and diluted loss per share (cents)	(3.09)	(1.82)

The above consolidated statement of profit or loss and other comprehensive income should be read in

conjunction with the accompanying notes

Osteopore Limited and its Controlled Entities Consolidated Statement of Financial Position As at 31 December 2021

For personal use only

	Note
ASSETS
Current Assets
Cash and cash equivalents
Trade receivables
Other assets
Inventories
Total Current Assets
Non-Current Assets
Property, plant and equipment
Right-of-use asset
Total Non-Current Assets
TOTAL ASSETS
LIABILITIES
Current Liabilities
Trade and other payables
Employee provisions
Borrowings
Lease liabilities
Total Current Liabilities
Non-Current Liabilities
Lease liabilities
Total Non-Current Liabilities
TOTAL LIABILITIES
NET ASSET
EQUITY
Issued capital	3
Reserves	4
Accumulated losses
TOTAL EQUITY

Consolidated

31 Dec 2021	31 Dec 2020
$	$
4,530,175	9,027,016
400,737	305,189
285,925	258,094
201,625	151,382
5,418,462	9,741,681
483,383	483,538
104,446	22,715
587,829	506,253
6,006,291	10,247,934

450,795 741,221

75,896 56,375

• 427,359
  79,940 26,634

606,631 1,251,589

26,769-

26,769-

633,400 1,251,589

5,372,891 8,996,345

26,066,131 26,066,131

(12,744,115) (12,741,559)

(7,949,125) (4,328,227)

5,372,891 8,996,345

The above consolidated statement of financial position should be read in conjunction with the accompanying

notes