IX Biopharma : 2H (Unaudited)

iX Biopharma Ltd.

(Company Registration No. 200405621W)

UNAUDITED CONDENSED INTERIM FINANCIAL STATEMENTS FOR THE SIX MONTHS AND

FULL YEAR ENDED 30 JUNE 2021

Page 1

Unaudited Condensed Interim Consolidated Statement of Comprehensive Income

for six months and full year ended 30 June 2021

		Group
	Note	6 months ended
		30.06.21	30.06.20
		S$'000	S$'000
Revenue	5.3	915	691
Cost of sales		(1,140)	(883)
Gross Loss		(225)	(192)
Other income		651	608
Expenses
- Research and development		(1,456)	(1,262)
- Sales and marketing		(1,154)	(1,068)
- General and administrative		(2,786)	(3,253)
- Others		(359)	552
- Finance expense		(92)	(119)
Total expenses		(5,847)	(5,150)
Loss before income tax		(5,421)	(4,734)
Income tax expense		-	-
Loss for the financial period		(5,421)	(4,734)
Other comprehensive income:
Items that may be reclassified
subsequently to profit or loss:
Currency translation differences
arising from consolidation
- (Loss)/gain		274	(469)
Total comprehensive loss		(5,147)	(5,203)
Loss per share attributable to
equity holders of the Company
(cent per share)
Basic loss per share	7	(0.78)	(0.73)
Diluted loss per share	7	(0.78)	(0.73)

%

32

29

17

7

15

8

(14) nm (23) 14

15

15

nm

(1)

Group

12 months ended

30.06.21 30.06.20

S$'000 S$'000 %

1,745	985	77
(2,127)	(1,572)	35
(382)	(587)	(35)
1,575	1,046	51
(2,747)	(2,499)	10
(2,249)	(2,259)	-
(6,051)	(6,346)	(5)
1,795	384	367
(174)	(238)	(27)
(9,426)	(10,958)	(14)
(8,233)	(10,499)	(22)
(1)	-	nm
(8,234)	(10,499)	(22)

(1,400)

(370)

278

(9,634) (10,869) (11)

(1.20) (1.62)

(1.20) (1.62)

nm: not meaningful

The Unaudited Consolidated Interim Statement of Comprehensive Income should be read in conjunction with the 2020 Audited Financial Statements and the accompanying explanatory notes attached to this financial report.

iX Biopharma Ltd., Page 2

Unaudited Condensed Interim Balance Sheets

As at 30 June 2021

		Group		Company
	Note	30.06.21	30.06.20	30.06.21	30.06.20
		S$'000	S$'000		S$'000	S$'000
ASSETS
Current assets
Cash and cash equivalents	8	6,205	5,663	5,173	3,593
Trade and other receivables		1,816	1,300	19,105	15,816
Inventories		1,103	883	21	-
Other current assets		227	297		183	206
		9,351	8,143	24,482	19,615
Non-current assets
Deposits		148	105	83	-
Intangible assets	9	413	447	72	108
Property, plant and equipment	10	8,338	8,026	166	189
Right of use assets	11	607	261	594	230
Investments in subsidiaries		-	-		1,966	1,966
		9,506	8,839		2,881	2,493
Total assets		18,857	16,982	27,363	22,108
LIABILITIES
Current liabilities
Trade and other payables		2,808	2,824	1,740	1,709
Borrowings	12	421	216	25	25
Lease liabilities	12	375	245	361	226
Provision		63	12		-	-
		3,667	3,297	2,126	1,960
Non-current liabilities
Borrowings	12	3,201	3,438	30	55
Lease liabilities	12	238	19	238	6
Provision		40	60		-	-
		3,479	3,517		268	61
Total liabilities		7,146	6,814		2,394	2,021
NET ASSETS		11,711	10,168	24,969	20,087
EQUITY
Capital and reserves attributable to
equity holders of the Company
Share capital	13	83,337	72,251	83,337	72,251
Other reserves		344	1,653	411	320
Accumulated losses		(71,970)	(63,736)		(58,779)	(52,484)
Total equity		11,711	10,168		24,969	20,087

The Unaudited Consolidated Interim Balance Sheets should be read in conjunction with the 2020 Audited Financial Statements and the accompanying explanatory notes attached to this financial report.

iX Biopharma Ltd., Page 3

Unaudited Condensed Interim Statements of Changes in Equity

for six months and full year ended 30 June 2021

			Attributable to equity holders of the Company
			Share
			based	Currency
		Share	payment	translation Accumulated	Total
Group	capital	reserve	reserve	losses	equity
		S$'000	S$'000	S$'000	S$'000	S$'000
Balance as at 30 June 2020	72,251	320	1,333	(63,736)	10,168
Loss for the period	-	-	-	(8,234)	(8,234)
Other comprehensive loss for the period	-	-	(1,400)		(1,400)
Total comprehensive loss for the period	-	-	(1,400)	(8,234)	(9,634)
Share based payment scheme
- Value of employees' services	-	997	-	-	997
- Shares issued pursuant to iX Performance Share Plan	906	(906)	-	-	-
Shares issued pursuant to private placement, net of
transaction cost	10,180	-	-	-	10,180
Total transactions with owners, recognised directly in
equity	11,086	91	-	-	11,177
Balance as at 30 June 2021	83,337	411	(67)	(71,970)	11,711
Balance as at 30 June 2019	71,525	508	1,703	(53,237)	20,499
Loss for the period	-	-	-	(10,499)	(10,499)
Other comprehensive gain for the period	-	-	(370)	-	(370)
Total comprehensive gain/(loss) for the period	-	-	(370)	(10,499)	(10,869)
Share based payment scheme
- Value of employees' services	-	538	-	-	538
- Shares issued pursuant to iX Performance Share Plan	726	(726)	-	-	-
Total transactions with owners, recognised directly in
equity	726	(188)	-	-	538
Balance as at 30 June 2020	72,251	320	1,333	(63,736)	10,168
			Attributable to equity holders of the Company
			Share based
		Share	payment	Accumulated
Company	capital	reserve	losses	Total equity
		S$'000	S$'000	S$'000		S$'000
Balance as at 30 June 2020	72,251	320	(52,484)		20,087
Loss for the period	-	-	(6,295)		(6,295)
Total comprehensive loss for the period	-	-	(6,295)		(6,295)
Share based payment scheme
- Value of employees' services	-	997	-		997
- Shares issued pursuant to iX Performance Share Plan	906	(906)	-		-
Shares issued pursuant to private placement, net of
transaction cost	10,180	-	-		10,180
Total transactions with owners, recognised directly in
equity	11,086	91	-		11,177
Balance as at 30 June 2021	83,337	411	(58,779)		24,969
Balance as at 30 June 2019	71,525	508	(45,530)		26,503
Loss for the period	-	-	(6,954)		(6,954)
Total comprehensive loss for the period	-	-	(6,954)		(6,954)
Share based payment scheme
- Value of employees' services	-	538	-		538
- Shares issued pursuant to iX Performance Share Plan	726	(726)	-		-
Total transactions with owners, recognised directly in
equity	726	(188)	-		538
Balance as at 30 June 2020		72,251	320	(52,484)		20,087

The Unaudited Condensed Interim Statement of Changes in Equity should be read in conjunction with the 2020 Audited Financial Statements and the accompanying explanatory notes attached to this financial report.

iX Biopharma Ltd., Page 4

Unaudited Condensed Interim Consolidated Statement of Cash Flows

for full year ended 30 June 2021

Cash flows from operating activities

Total loss after tax

Adjustments for:

• Depreciation and amortisation expense
• Income tax expense
• Interest income
• Interest expense
• Inventory write-down
• Provision
• Disposal of property, plant and equipment
• Research and development tax incentive
• Share based payment expense
• Unrealised currency exchange gains - net

Changes in working capital:

• Trade and other receivables
• Other current assets
• Trade and other payables
• Inventories

Cash used in operations

Interest received

Research and development tax incentive received Income tax paid

Net cash used in operating activities

Cash flows from investing activities

Additions to property, plant and equipment

Additions to intangible assets

Disposal of property, plant and equipment

Net cash used in investing activities

Cash flows from financing activities

Decrease in fixed deposits pledged

Proceeds from issuance of ordinary shares

Repayment of borrowings

Principal payment of lease liabilities

Interest paid

Net cash from/(used in) financing activities

Net increase/(decrease) in cash and cash equivalents

Cash and cash equivalents

Beginning of financial period

Effects of currency translation on cash and cash equivalents End of financial period

Note

8

Group

12 months ended

30.06.21 30.06.20

S$'000 S$'000

(8,234) (10,499)

1,054	1,049
1	-
(7)	(87)

1. 238
2. 56

2726

1. 1

(1,230) (405)

997538

(1,708) (324)

(8,755)	(9,407)
18	(230)
73	67
(71)	504

1. (83)

(9,083) (9,149)

787

725742

1. -

(8,352) (8,320)

1. (984)

• (10)

46-

1. (994)

622-

10,180-

1. (213)

1. (375)

1. (238)
   10,024(826)

1,165 (10,140)

4,470 14,709

1. (99)
   5,585 4,470

The Unaudited Condensed Interim Consolidated Statement of Cash Flows should be read in conjunction with the 2020 Audited Financial Statements and the accompanying explanatory notes attached to this financial report.

iX Biopharma Ltd., Page 5