G.D. Amplus Public Company Ltd

Interim / Quarterly Report • Sep 28, 2023

REPORT AND INTERIM FINANCIAL STATEMENTS Period from 1 January 2023 to 30 June 2023

REPORT AND INTERIM FINANCIAL STATEMENTS Period from 1 January 2023 to 30 June 2023

CONTENTS	PAGE
Board of Directors and other officers	1
Management Report	2 - 3
Declaration of the members of the Board of Directors and the company officials responsible for the preparation of the financial statements	4
Statement of profit or loss and other comprehensive income	5
Statement of financial position	6
Statement of changes in equity	7
Cash flow statement	8
Notes to the financial statements	9 - 12

BOARD OF DIRECTORS AND OTHER OFFICERS

Board of Directors:	Georgios Damanakis Ioannis Aravantinos
Company Secretary:	A.I.L Nominee Services Ltd
Independent Auditor:	Costas Miaoulis FCCA Certified Public Accountant and Registered Auditor Xenagora 10 2052 Strovolos Nicosia
Legal Advisers:	Angelides, Ioannides, Leonidou LLC
Registered office:	Agion Omologiton 15 1080 Nicosia Cyprus
Bankers:	Hellenic Bank Public Company Ltd
Registration number:	ΗΕ364416

MANAGEMENT REPORT

The Board of Directors presents its report and unaudited financial statements of the Company for the period from 1 January 2023 to 30 June 2023.

Incorporation

The Company G.D. AMPLUS PUBLIC COMPANY LTD was incorporated in Cyprus on 29 December 2016 as a private limited liability company under the provisions of the Cyprus Companies Law, Cap. 113.

On 17 February 2017 the Company submitted an application to the Cyprus Stock Exchange (CSE) for the listing of its securities in the Emerging Companies Market (E.C.M.).

On 19 January 2018 the Council of the Cyprus Stock Exchange accepted the application of the Company for listing in the Emerging Companies Market of the CSE 26,000 securities of nominal value €1 each, with a listing price of €1 each.The trading of the above securities commenced on Friday, 19 January 2018. The Cyprus Stock Exchange has undertaken to keep the register of the above company in the CSE Central Depository/Registry.

Principal activities and nature of operations of the Company

The Company is involved in trading and investing activities in the information technology industry, having as a target the performance of technical infrastructure projects and the computerization of businesses and organizations.

Review of current position, future developments and performance of the Company's business

The Company's development to date, financial results and position as presented in the financial statements are not considered satisfactory and the Board of Directors is making an effort to reduce the Company's losses.

Results

The Company's results for the period are set out on page 5. The net loss for the period is carried forward.

Dividends

The Company did not have any distributable profits as at 30 June 2023, thus the Board of Directors cannot recommend the payment of a dividend.

Research and development activities

The Company did not carry out any research and development activities during the period.

Share capital

There were no changes in the share capital of the Company during the period under review.

Treasury shares

The Company did not make any acquisitions of its own shares either itself directly or through a person acting in his own name or on the Company's behalf.

Implementation and compliance to the Code of Corporate Governance

The Company recognises the importance of implementing sound corporate governance policies, practices and procedures. As a company listed on the Cyprus Stock Exchange (CSE), G.D. AMPLUS PUBLIC COMPANY LTD has adopted CSE's Corporate Governance Code and applies its principles.

In March 2006 the CSE issued a revised Code of Corporate Governance. The Company complies with all the provisions of the revised Code

Board of Directors

The members of the Company's Board of Directors as at 30 June 2023 and at the date of this report are presented on page 1. Mr. Ioannis Aravantinos and Mr. Andreas Bekios were appointed directors on 17 February 2020 and on the same date Fine Life Services Ltd and Smell of Rain Ltd resigned from their position. On 4 January 2021 Mr. Andreas Bekios resigned from his position of director.

In accordance with the Company's Articles of Association all Directors presently members of the Board continue in office.

There were no significant changes in the assignment of responsibilities and remuneration of the Board of Directors.

MANAGEMENT REPORT

Events after the reporting period

There were no material events after the reporting period, which have a bearing on the financial statements.

Independent Auditor

The Independent Auditor, Costas Miaoulis FCCA, has expressed his willingness to continue in office and a resolution giving authority to the Board of Directors to fix his remuneration will be proposed at the Annual General Meeting.

By order of the Board of Directors,

N 4 ਫਰ 1 A.I. Nominee Services Ltd Secretary Nicosia, 27 September 2023

DECLARATION OF THE MEMBERS OF THE BOARD OF DIRECTORS AND THE COMPANY OFFICIALS RESPONSIBLE FOR THE PREPARATION OF THE FINANCIAL STATEMENTS

In accordance with Article 10 sections (3c) and (7) of the Transparency Requirements (Traded Securities in Regulated Markets) Law 2007 (N 190 (I)/2007) ("the Law") we, the members of the Board of Directors and the Company official responsible for the financial statements of G.D. AMPLUS PUBLIC COMPANY LTD (the "Company") for the period from 1 January 2023 to 30 June 2023, on the basis of our knowledge, declare that:

(a) The annual financial statements of the Company which are presented on pages 5 to 12:

(i) have been prepared in accordance with the applicable International Financial Reporting Standards as adopted by the European Union and the provisions of Article 10, section (4) of the law, and

(ii) provide a true and fair view of the particulars of assets and liabilities, the financial position and profit or loss of the Company and the entities included in the financial statements as a whole and

b) The management report provides a fair view of the developments and the performance as well as the financial position of the Company as a whole, together with a description of the main risks and uncertaintes which the face,

Members of the Board of Directors:

Nicosia, 27 September 2023

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME Period from 1 January 2023 to 30 June 2023

	01/01/2023- 30/06/2023	01/01/2022- 30/06/2022
Note	€	€
6		(5,889)
	(5,892)	(5,889)
7	(306)	(332)
	(6,198)	(6,221)
	-	-
	(6,198)	(6,221)
		(23.93)
	8	(5,892) (23.84)

The notes on pages 9 to 12 form an integral part of these financial statements.

STATEMENT OF FINANCIAL POSITION 30 June 2023

ASSETS			Note	30 June 2023 €	31 December 2022 €
Current assets Receivables Cash at bank and in hand			9 10	2,553 5,527	2,230 13,369
Total assets				8,080 8,080	15,599 15,599
EQUITY AND LIABILITIES
Equity Share capital Accumulated losses Total equity			11	26,000 (28,263) (2,263)	26,000 (22,065) 3,935
Current liabilities Trade and other payables Current tax liabilities			12 13	9,374 969	10,695 ਰਦਰ
Total equity and liabilities				10,343 8,080	11,664 15,599

On 27 September 2023 the Board of Directors of G.D. AMPLUS PUBLIC COMPANY LTD authorised these financial statements for issue.

SPUB Georgios Damarlakis
Georgios Damarrakis
Director Ioannis Aravantinos Director/ ar

The notes on pages 9 to 12 form an integral part of these financial statements.

6

STATEMENT OF CHANGES IN EQUITY Period from 1 January 2023 to 30 June 2023

	Share capital €	Retained earnings/ (accumulated losses) €	Total €
Balance at 1 January 2022 Net loss for the year	26,000 -	(10,737) (6,221)	15,263 (6,221)
Balance at 30 June 2022	26,000	(16,958)	9,042
Balance at 1 January 2023 Net loss for the period	26,000 -	(22,065) (6,198)	3,935 (6,198)
Balance at 30 June 2023	26,000	(28,263)	(2,263)

The notes on pages 9 to 12 form an integral part of these financial statements.

CASH FLOW STATEMENT

Period from 1 January 2023 to 30 June 2023

	01/01/2023- 30/06/2023 €	01/01/2022- 30/06/2022 €
CASH FLOWS FROM OPERATING ACTIVITIES
Loss before tax	(6,198)	(6,221)
	(6,198)	(6,221)
Changes in working capital:
(Increase)/decrease in receivables	(323)	21,347
Decrease in trade and other payables	(1,321)	(48,990)
Cash used in operations	(7,842)	(33,864)
CASH FLOWS FROM INVESTING ACTIVITIES	-	-
CASH FLOWS FROM FINANCING ACTIVITIES	-	-
Net decrease in cash and cash equivalents	(7,842)	(33,864)
Cash and cash equivalents at beginning of the period/year	13,369	52,210
Cash and cash equivalents at end of the period/year	5,527	18,346

The notes on pages 9 to 12 form an integral part of these financial statements.

NOTES TO THE FINANCIAL STATEMENTS Period from 1 January 2023 to 30 June 2023

1. Incorporation and principal activities

Country of incorporation

The Company G.D. AMPLUS PUBLIC COMPANY LTD (the ''Company'') was incorporated in Cyprus on 29 December 2016 as a private limited liability company under the provisions of the Cyprus Companies Law, Cap. 113. Its registered office is at Agion Omologiton 15, 1080 Nicosia, Cyprus.

On 19 January 2018 the Council of the Cyprus Stock Exchange accepted the application of the Company for listing in the Emerging Companies Market of the CSE 26,000 securities of nominal value €1 each, with a listing price of €1 each.The trading of the above securities commenced on Friday, 19 January 2018. The Cyprus Stock Exchange has undertaken to keep the register of the above company in the CSE Central Depository/Registry.

Unaudited financial statements

The financial statements for the six months ended on 30 June 2022 and 2023 respectively, have not been audited by the external auditors of the Company.

2. Basis of preparation

The financial statements have been prepared in accordance with International Financial Reporting Standards (IFRSs) as adopted by the European Union (EU) and the requirements of the Cyprus Companies Law, Cap. 113. The financial statements have been prepared under the historical cost convention.

The preparation of financial statements in conformity with IFRSs requires the use of certain critical accounting estimates and requires Management to exercise its judgment in the process of applying the Company's accounting policies. It also requires the use of assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Although these estimates are based on Management's best knowledge of current events and actions, actual results may ultimately differ from those estimates.

3. Adoption of new or revised standards and interpretations

During the current period the Company adopted all the new and revised International Financial Reporting Standards (IFRS) that are relevant to its operations and are effective for accounting periods beginning on 1 January 2023. This adoption did not have a material effect on the accounting policies of the Company.

4. Significant accounting policies

The financial statements, which are presented in Euro, have been prepared in accordance with international Financial Reporting Standards, including IAS 34 ''Interim Financial Reporting''

The accounting policies used in the preparation of the financial statements are in accordance with those used in the annual financial statements for the year ended 31 December 2022.

Costs that are incurred during the financial year are anticipated or deferred for interim reporting purposes if, and only if, it is also appropriate to anticipate or defer that type of cost at the end of the financial year.

Corporation tax is calculated based on the expected tax rates for the whole financial year.

These financial statements must be read in conjunction with the annual financial statements for the year ended 31 December 2022.

NOTES TO THE FINANCIAL STATEMENTS Period from 1 January 2023 to 30 June 2023

5. New accounting pronouncements

At the date of approval of these financial statements, standards and interpretations were issued by the International Accounting Standards Board which were not yet effective. Some of them were adopted by the European Union and others not yet. The Board of Directors expects that the adoption of these accounting standards in future periods will not have a material effect on the financial statements of the Company.

6. Administration expenses

	01/01/2023-	01/01/2022-
	30/06/2023	30/06/2022
	€	€
Annual levy	350	350
Auditors' remuneration - prior years	250	-
Accounting fees	-	200
Other professional fees	3,167	2,764
Cyprus Stock Exchange expenses	2,125	2,575
	5,892	5,889

7. Finance costs

	01/01/2023- 30/06/2023 €	01/01/2022- 30/06/2022 €
Sundry finance expenses	306	332
Finance costs	306	332

8. Loss per share attributable to equity holders of the parent

	01/01/2023- 30/06/2023	01/01/2022- 30/06/2022
Loss attributable to shareholders (€)	(6,198)	(6,221)
Weighted average number of ordinary shares in issue during the period	26,000	26,000
Loss per share attributable to equity holders of the parent (cent)	(23.84)	(23.93)

9. Receivables

		31 December
	30 June 2023	2022
	€	€
Refundable VAT	2,553	2,230
	2,553	2,230

The fair values of receivables due within one year approximate to their carrying amounts as presented above.

NOTES TO THE FINANCIAL STATEMENTS Period from 1 January 2023 to 30 June 2023

10. Cash at bank and in hand

Cash balances are analysed as follows:

		31 December
	30 June 2023	2022
Cash at bank and in hand	€	€
	5,527	13,369
	5,527	13,369

11. Share capital

	2023 Number of shares	2023 €	2022 Number of shares	2022 €
Authorised Ordinary shares of €1 each	26,000	26,000	26,000	26,000
Issued and fully paid Balance at 1 January	26,000	26,000	26,000	26,000
Balance at 30 June/31 December	26,000	26,000	26,000	26,000

Issued capital

Upon incorporation on 29 December 2016 the Company issued to the subscribers of its Memorandum of Association 26,000 ordinary shares of €1 each at par.

12. Trade and other payables

		31 December
	30 June 2023	2022
	€	€
Shareholders' current accounts - credit balances (Note 14.1)	8,696	8,696
Accruals	-	1,599
Other creditors	678	400
	9,374	10,695

The fair values of trade and other payables due within one year approximate to their carrying amounts as presented above.

13. Current tax liabilities

		31 December
	30 June 2023	2022
	€	€
Corporation tax	969	969
	969	969

NOTES TO THE FINANCIAL STATEMENTS Period from 1 January 2023 to 30 June 2023

14. Related party transactions

The following transactions were carried out with related parties:

14.1 Shareholders' current accounts - credit balances (Note 12)

		31 December
	30 June 2023	2022
	€	€
Shareholders' current accounts - credit balances	8,696	8,696
	8,696	8,696

The directors'/shareholders' current accounts are interest free, and have no specified repayment date.

15. Participation of Directors in the company's share capital

The percentage of share capital of the Company held directly or indirectly by each member of the Board of Directors (in accordance with Article (4) (b) of the Directive DI 190-2007-04), as at 30 June 2023 and 23 September 2023 (5 days before the date of approval of the financial statements by the Board of Directors) were as follows:

		23
		September
	30 June 2023	2023
	%	%
Georgios Damanakis	90	90
Ioannis Aravantinos	3	3

16. Shareholders holding more than 5% of share capital

The persons holding more than 5% of the share capital as at 30 June 2023 and 23 September 2023 (5 days before the date of approval of the financial statements by the Board of Directors) were as follows:

	23
	September
30 June 2023	2023
%	%
Georgios Damanakis 90	90

17. Significant agreements with management

At the end of the year, no significant agreements existed between the Company and its Management.

18. Contingent liabilities

The Company had no contingent liabilities as at 30 June 2023.

19. Commitments

The Company had no capital or other commitments as at 30 June 2023.

20. Events after the reporting period

There were no material events after the reporting period, which have a bearing on the understanding of the financial statements.

ADDITIONAL INFORMATION TO THE STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

CONTENTS	PAGE
Detailed income statement	1
Other operating expenses	2
Finance costs	3
Calculation of tax losses for the five-year period

DETAILED INCOME STATEMENT

Period from 1 January 2023 to 30 June 2023

		01/01/2023- 30/06/2023	01/01/2022- 30/06/2022
	Page	€	€
Revenue
Operating expenses
Administration expenses	2	(5,892)	(5,889)
Operating loss		(5,892)	(5,889)
Finance costs	3	(306)	(332)
Net loss for the period/year before tax		(6,198)	(6,221)

OTHER OPERATING EXPENSES Period from 1 January 2023 to 30 June 2023

	01/01/2023- 30/06/2023 €	01/01/2022- 30/06/2022 €
Administration expenses
Annual levy	350	350
Auditors' remuneration - prior years	250	-
Accounting fees	-	200
Other professional fees	3,167	2,764
Cyprus Stock Exchange expenses	2,125	2,575
	5,892	5,889

FINANCE COSTS

Period from 1 January 2023 to 30 June 2023

	01/01/2023- 30/06/2023 €	01/01/2022- 30/06/2022 €
Finance costs
Sundry finance expenses
Bank charges	306	332
	306	332