Earnings Release • Jun 10, 2022
Earnings Release
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Ad hoc announcement pursuant to Art. 53 LR
Achiko AG / Key word(s): Miscellaneous
Achiko AG – Publication of Annual Report and Annual Financial Statements 2021 to Occur by 20 June 2022
10-Jun-2022 / 23:15 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.
Achiko AG – Publication of Ann u al Report a nd Annual F inan c ia l S t a t emen t s 2021 t o Occur by 20 June 2022
Zurich, 10 J u ne 2022: Ad hoc an n o u ncement pu r su a nt to Art. 53 LR – Achiko AG (SIX: ACHI; OTCQB: ACHKF; ISIN CH0522213468) (“Achiko”, the “Company”) announces that Achiko will publish its annual report and its annual financial statements for the year 2021 on 20 June 2022 at the latest. As a company listed on SIX Swiss Exchange, Achiko is required to publish its annual report, together with the annual financial statements, within four months of the balance sheet date.
Due to the Covid-19 pandemic, new staffing and training under difficult conditions in consequence of measures taken by several countries required a lot of management capacity. As a result, the publication of the annual report 2021, together with the annual financial statements and the audit report, will occur in the month of June 2022. Achiko has filed an exemption request with SIX Exchange Regulation (SER) regarding the publication of the annual report and the annual financial statements 2021. On 28 April 2022, SER granted Achiko the requested extension. Achiko filed a second extension request with SER regarding the publication of the annual report and the annual financial statements 2021. On 30 May 2022, SER granted Achiko the second extension. Achiko filed a third extension request with SER regarding the publication of the annual report and the annual financial statements 2021. On 3 June 2022, SER granted Achiko the third extension. Achiko filed a fourth extension request with SER regarding the publication of the annual report and the annual financial statements 2021. On 10 June, SER granted Achiko the fourth extension.
The delay is a result of the matters previously announced including continuity of operations in the second half of the financial year as a result of the Covid-19 pandemic and the higher than expected manual administrative workload, in particular regarding the auditory reconciliation documentation.
Ahead of the Audited Financial Statements being published, the Company advises the following unaudited key financial figures:
2021 (USD$’000s) 2020 (USD’000s)
REVENUE 63 2,806
EBITDA LOSS 8,295 14,217
OPERATING LOSS 9,396 14,069
CURRENT LIABILITIES 6,144 5,496
TOTAL ASSETS 1,914 1,772
SHAREHOLDER’S EQUITY (4,647) (4,052)
In an earlier announcement on 19 May 2022, the Company reported an unaudited adjusted EBITDA loss of USD$5.258m and noted the adjustments of stock-based items had yet to be completed. The final unaudited stock-based payments (share options, interest, financing costs, etc.) is USD$2.711m and includes an interest component of USD$0.835m. The difference between the earlier reported adjusted EBITDA loss and the final unaudited EBITDA loss of USD$8,295m is attributable to: (1) USD$0.713m in costs associated with a Swiss subsidiary and a result of retrieval of accounting records; (2) re-inclusion of director's fees of USD$0.500m (the Board of Directors and Advisory Board fees are substantially outstanding, unpaid and majority subordinated); (3) USD$1.876m of non interest Stock based payments; and (4) other miscellaneous adjustments.
In all, the operating losses in 2021 compared to the prior year, reflect continued investment in bringing AptameX ™, to commercialisation in a challenging operating environment, and substantial cost reductions in the second half of 2021. Given the Company’s position at year end, it’s focus was on commercialising AptameX. To that goal, and subsequent to the end of the reporting period, the company has successfully reported in-vivo performance results of AptameX indicating a highly sensitive and highly specific test at low viral loads for Covid-19, sales and marketing agreements with the largest Islamic organisation in the world, Nahdlatul Ulama in Indonesia, updated production contracts with production partner Indofarma in Indonesia, obtaining a CE Mark enabling the Company to be able to sell AptameX in Europe, and has accepted USD$1.25m in financing in a range of equity and debt instruments.
As required by SER, Achiko hereby reprints para. I of SER’s respective decision:
"The exemption application of Achiko (Issuer) dated 10 June 2022 requesting a fourth extension of the deadline to publish its 2021 annual report and to file such report with SIX Exchange Regulation AG until 20 June 2022 at the latest is granted with the following reservation (lit. a) and under the following conditions (lit. b):
˗ the unaltered reproduction of the wording of para. I. of this decision, placed in a prominent position;
˗ the reasons for the application of the Issuer requesting a fourth extension of the deadline to publish its 2021 annual report and to file such report with SIX Exchange Regulation AG.
- the updated unaudited key figures such Net Revenues, EBITDA, EBIT, profits/loss, balance sheet total, equity etc. for the annual results 2021."
The date of the next annual general meeting will be announced in due course, once the Company has published its annual report and its annual financial statements for the year 2021.
ABOUT ACHIKO A G
Achiko AG (SIX: ACHI.SW; OTCQB: ACHKF; www.achiko.com ) is developing disruptive diagnostic
solutions that puts people first. The company’s lead product is a rapid, reliable Covid-19 test with a
companion app offering a user-friendly digital health passport. The test and companion app were
launched in Indonesia in mid-2021 and an application for CE Mark approval in Europe will be submitted in 2022.
Achiko creates and develops aptamer-based diagnostics through its biotechnology division, AptameX TM and companion health apps via its digital mobile health technology division, Teman Sehat TM . The AptameX DNA aptamer tests can be rapidly chemically synthesised, are cost-effective and have wide potential across multiple disease diagnostics. Leveraging AptameX and Teman Sehat, Achiko aims to deliver fast, accurate and affordable diagnostic testing for a range of pathogenic diseases and therapeutic indications in the rapidly evolving healthcare diagnostics field.
Headquartered in Zurich, Achiko has offices in Jakarta, and staff around the world.
M edia contacts:
ACHIKO A G
Switzer l and & G lo b al
Marcus Balogh
Farner Consulting Ltd.
T: +41 44 266 67 67
Disclaimer
T his communi c a tio n expressl y or i m plicitly c o nta i ns certa i n f or w ard-look i ng s tatem e nts c o ncernin g A chik o A G an d it s business . Suc h stat e ment s in v olv e certai n k n o w n a n d un k no w n risks, uncer t ainties a n d othe r f actors, w hi c h coul d cause the actua l results, f i n ancial c o nditi o n, per f or m ance or achi e vement s o f A chik o A G to be material l y di ff erent f rom any f u t ure results, pe r f ormance or achiev e ments expressed or implie d by such f or w ard-l o oki n g statem e nts. A chiko A G is providing this com m uni c ati o n as o f this date and d oe s not u nder t ake to u p d ate a n y f or w ard- l ooki n g stat e ments contain e d herein as a result o f ne w in f ormat i on , f uture eve n ts or o ther w ise.
End of ad hoc announcement
| Language: | English |
| Company: | Achiko AG |
| Tessinerplatz 7 | |
| 8002 Zurich | |
| Switzerland | |
| E-mail: | [email protected] |
| Internet: | https://www.achiko.com/ |
| ISIN: | CH0522213468 |
| Valor: | 48788430 |
| Listed: | SIX Swiss Exchange |
| EQS News ID: | 1373457 |
| End of Announcement | EQS News Service |
1373457 10-Jun-2022 CET/CEST
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