Spexis : Half Year Report 2023

Half-Year Report2023

Interim condensed consolidated financial statements as at June 30, 2023

Spexis Ltd and its subsidiaries

Interim condensed consolidated statement of financial position

in CHF	Notes	Unaudited	Audited
June 30, 2023	December 31, 2022
Assets
Current assets
Cash and cash equivalents	4	909'921	1'804'586
Other accounts receivable		417'807	1'057'911
Prepaid expenses and accrued income	6	1'965'579	225'408
Total current assets		3'293'307	3'087'905
Non-current assets
Property, plant and equipment		378'415	516'869
Right-of-use assets		1'073'530	1'199'827
Intangible assets (excl. goodwill)	7	9'820'819	10'045'747
Goodwill	8	14'653'983	14'653'983
Financial assets (rent deposit)		447'406	447'406
Total non-current assets		26'374'152	26'863'832
Total assets		29'667'459	29'951'737
Liabilities and shareholders' equity
Current liabilities
Trade accounts payable		1'676'803	1'455'921
Other accounts payable		70'335	74'713
Current lease liability		852'803	846'055
Current portion of debt	9	301'793	646'045
Accrued expenses		2'883'442	2'979'872
Total current liabilities		5'785'177	6'002'605
Non-current liabilities
Pension liabilities	10	-	-
Non-current lease liability		2'867'080	3'295'176
Non-current portion of debt	9	3'734'775	1'251'977
Total non-current liabilities		6'601'855	4'547'152
Total liabilities		12'387'032	10'549'758
Shareholders' equity
Share capital	11	1'048'448	975'709
Additional paid-in capital		53'240'753	51'192'811
Foreign exchange translation reserve		567'536	1'000'098
Accumulated deficit		-37'576'308	-33'766'639
Equity attributable to Spexis' shareholders		17'280'428	19'401'979
Non-controlling interest		-	-
Total shareholders' equity		17'280'428	19'401'979
Total liabilities and shareholders' equity		29'667'459	29'951'737

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Spexis Ltd and its subsidiaries

Interim condensed consolidated income statement for the six months ended June 30, 2023

In CHF	Notes	Unaudited	Unaudited
June 30, 2023	June 30, 2022
Other income	5	329'623	616'486
Research and development		-2'679'639	-6'757'515
Marketing and sales		-313'740	-420'139
General and administrative		-1'568'979	-2'984'516
Net operating expenses		-4'232'735	-9'545'684
Operating loss		-4'232'735	-9'545'684
Financial income		44'446	12'615
Financial expenses		-213'593	-87'110
Net foreign exchange gain/(loss)		492'852	-352'140
Net loss for the period		-3'909'030	-9'972'319
- of which attributable to Spexis' shareholders		-3'909'030	-9'972'319
- of which attributable to non-controlling interest		-	-
Net loss per share (basic)	14	-0.08	-0.21
Net loss per share (diluted)	14	-0.08	-0.21

Interim condensed consolidated statement of comprehensive income for the six months ended June 30, 2023

in CHF	Notes	Unaudited	Unaudited
June 30, 2023	June 30, 2022
Net loss for the period		-3'909'030	-9'972'319
Other comprehensive income/(loss) that may be
reclassified to profit or loss in subsequent periods
Cumulative translation differences		-432'562	786'627
Other comprehensive income/(loss) that will not be
reclassified to profit in subsequent periods
Remeasurement of pension liabilities	10	-75'979	3'826'272
Other comprehensive income/(loss)		-508'541	4'612'899
Total comprehensive loss		-4'417'572	-5'359'420
- of which attributable to Spexis' shareholders		-4'417'572	-5'359'420
- of which attributable to non-controlling interest		-	-

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Spexis Ltd and its subsidiaries

Interim condensed consolidated statement of cash flows for the six months ended June 30, 2023

in CHF	Notes	Unaudited	Unaudited
June 30, 2023	June 30, 2022
Net loss for the period		-3'909'030	-9'972'319
Adjustments for
- Other non-cash items		1'269'381	133'094
- Depreciation and amortization		489'680	733'557
- Net finance costs		169'148	74'494
- Share-based compensation	13	175'341	1'120'374
- Net foreign exchange loss/(gain)		-492'852	352'140
Changes in
- Other accounts receivable		658'230	270'230
- Prepaid expenses and accrued income	6	-1'749'566	1'635'360
- Trade and other accounts payable		285'652	-1'153'282
- Accrued expenses and employee benefits		-41'850	-389'990
- Interest received		44'446	12'615
Net cash from operating activities		-3'101'422	-7'183'726
Cash flow from investing activities
Net cash from investing activities		-	-
Cash flows from financing activities
Proceeds from convertible loans	9/12	1'375'800	-
Transaction costs of capital increases		-	-33'020
Proceeds from long term loans	9	1'516'647	-
Repayment of lease liabilities		-281'270	-424'509
Repayment of debt		-161'018	-156'265
Interest paid		-135'742	-87'110
Net cash from financing activities		2'314'417	-700'904
Net (decrease)/increase in cash equivalents		-787'005	-7'884'631
Cash and cash equivalents at January 1st		1'804'586	14'368'240
Effect of movements in exchange rates		-107'660	515'598
on cash and cash equivalents
Cash and cash equivalents as at end of period		909'921	6'999'208

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