Interim Financial Statements June 2019

Name of Listed Issuer:Promisia Integrative Limited

FINANCIAL SUMMARY
For the six month period ended 30 June 2019

Half year% Up/(Down) Half yearFull year
30-Jun-19on period 30-Jun-1831-Dec-18
Unaudited30-Jun-18UnauditedAudited
$000 $000$000
Sales revenue91 -81%467 727


Operating loss before tax(1,728) 45%(1,195) (2,371)
Net Comprehensive Loss(1,748) 43%(1,222) (2,407)
Total Assets258 -66%764 798
Basic Earnings per share(0.001) (0.002) (0.004)
Diluted Earnings per share(0.001) (0.002) (0.004)
Tangible Asset backing per share0.0001 0.0030.001




Report of the Directors for the six months ended 30 June 2019
The Directors of Promisia Integrative Limited are reporting on the six months to 30 June 2019 for the
company and its subsidiaries.
Sales for the six months were $91,000 compared with sales of $468,000 in the same period in 2018.
The significantly lower sales reflects the damage to the Arthrem brand following the two Medsafe
Alerts in 2018. The operating loss for the period was $1,728,000 compared with a loss of $1,195,000
for the same period in 2018.
The operating loss includes significant provisions of $1,096,000 for the impairment of both raw
materials and stock. The impairment has been included due to the very low level of sales and the
high probability that this material will not be required in the foreseeable future. The company
intends to find buyers for raw material and extract stock but has taken a prudent approach in view
of the fundamental uncertainty of the outcome of the prosecution of the company by the Ministry
of Health.
As reported previously, the company has ceased all marketing activities in New Zealand and
Australia to conserve funds. Sales continue to be achieved in New Zealand to consumers obtaining
joint support from Arthrem. In Australia, sales of Arthrem to pharmacies have been very limited
over the last six months and wholesale distribution arrangements have ceased.
A hearing date for the charges laid against the company by the Ministry of Health has not been
finalised, despite three brief appearances in the District Court. The parties have agreed to set a

hearing date at the next court appearance set down for 13 September 2019. A five day trial is
expected to occur in early 2020 and the company intends to defend all charges rigorously.
Corporate expenses have been reduced significantly with all marketing staff leaving the company,
the office lease transferred to another party, and all operating costs minimised.
The Brankin Trust has been making progressive payments to the company to pay up its entitlement
to 250 million new shares as approved at a meeting of shareholders held on 4 December 2018 and
as advised to the market on 23 January 2019. When these are fully paid then an allotment of fully
paid shares will be made to the Brankin Trust. On behalf of shareholders the directors thank the
Brankin Trust for its ongoing support of the company.
These are testing times for the company but your directors, with the support of the Brankin Trust,
are working to achieve an acceptable outcome for shareholders.

On behalf of the Board


Stephen Underwood
Chairman
29 August 2019

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Promisia Integrative Limited

Unaudited Consolidated Interim Financial Statements

For the six months ended 30 June 2019

_____________________________________________________________

Page 2
Promisia Integrative Limited
Consolidated Interim Statement of Profit or Loss and Other Comprehensive Income
For the six month period ended 30 June 2019

UnauditedUnauditedAudited
6 months6 monthsYear
Notes30 June 201930 June 201831 Dec 2018
$000$000$000

Revenue 91 467 727
Cost of goods sold (26) (135) (218)
65 332 509
Other income 1 10 14
Expenses
Administration (476) (459) (800)
Operating (216) (1,002) (1,637)
Research - (64) (116)
Impairment of inventory3.5(1,096) - (313)
Amortisation and depreciation (6) (12) (28)
(1,794) (1,537) (2,894)
Loss before taxation and interest (1,728) (1,195) (2,371)


Finance cost - interest paid (21) (28) (42)
Finance income - interest received - 1 1
Net Loss for period before income tax (1,749) (1,222) (2,412)
Income tax expense - - -

Net Loss for period (1,749) (1,222) (2,412)
Other comprehensive income
Currency translation differences 1 - 5
Total comprehensive loss for period(1,748) (1,222) (2,407)
attributable to shareholders
Basic Earnings per share (0.001) (0.002) (0.004)
Diluted Earnings per share(0.001) (0.002) (0.004)














The accompanying notes form part of these financial statements

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Promisia Integrative Limited
Consolidated Interim Statement of Changes in Equity
For the six month period ended 30 June 2019
ShareForeignShareAccumulatedTotal
CapitalCurrencyOptionLosses
ReserveReserve
$000$000$000$000$000
Unaudited
At 1 January 201856,041 177 51 (55,250) 1,019
Net loss for period - - - (1,222) (1,222)
Other comprehensive income (loss)- - - - -
Share Issue 950 - - - 950
Expired/Retired options68 - (68) - -
Share based payment- - 17 - 17
At 30 June 201857,059 177 - (56,472) 764
Audited
At 1 January 201856,041 177 51 (55,250) 1,019
Net loss for year- - - (2,412) (2,412)
Other comprehensive income (loss)- 5 - - 5
Share Issue 2,169 - - - 2,169
Expired/Retired options68 - (68) - -
Share based payment- - 17 - 17
At 31 December 201858,278 182 - (57,662) 798

Unaudited
At 1 January 201958,278 182 - (57,662) 798
Net loss for period - - - (1,748) (1,748)
Other comprehensive income (loss)- 1 - - 1
At 30 June 201958,278 183 - (59,410) (949)


















The accompanying notes form part of these financial statements

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Promisia Integrative Limited
Consolidated Interim Statement of Financial Position
As at 30 June 2019

UnauditedUnauditedAudited
Notes6 months6 monthsYear
30 June 2019 30 June 201831 Dec 2018
$000$000$000
EQUITY
Share Capital3.458,278 57,059 58,278
Accumulated Losses(59,410) (56,472) (57,662)
Other Equity Reserves183 177 182

TOTAL EQUITY (949) 764 798
Represented by:
CURRENT ASSETS
Bank60 104 512
Receivables42 111 58
Prepayments4 212 4
Inventory3.538 1,291 1,156
144 1,718 1,730
NON-CURRENT ASSETS
Investments75 75 75
Intangible Assets10 125 11
Property, plant & equipment29 41 35
114 241121
TOTAL ASSETS258 1,959 1,851
less
CURRENT LIABILITIES
Payables and Accruals261 262 261
Employee benefits11 13 8
Loan293 97 188
Other advances3.4150 -
715 372 457
NON-CURRENT LIABILITIES
Loan491 724 596
Other advances - 100 -
491 824 596
TOTAL LIABILITIES1,206 1,1961,053
NET (LIABILITIES) ASSETS (949) 764 798













The accompanying notes form part of these financial statements

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Promisia Integrative Limited
Consolidated Interim Statement of Cash flows
For the six month period ended 30 June 2019
UnauditedUnauditedAudited
6 months6 monthsYear
Note30 June 201930 June 201831 Dec 2018
$000$000$000
Operating activities
Receipts from customers 92 556 741
Payments to suppliers and employees(673) (1,656) (2,500)
Interest (net)(21) (28) (40)
Net cash flows from (used in) operating activities(602) (1,128) (1,799)

Investing Activities
Purchase intangible assets- (7) (8)
Purchase property, plant & equipment - (38) (39)
Net cash flows from (used in) investing activities- (45) (47)
Financing activities
New share capital - 950 2,169
Advance - part settlement new share capital3.4150 - -
Other advances- 100 -
Repayment of loans- (97) (135)
Net cash flows from financing activities150 953 2,034

Net change in cash (452) (220) 188
Cash at Start of Period512 324 324
Cash at End of Period60 104 512
















The accompanying notes form part of these financial statements

Page 6
Promisia Integrative Limited
Notes to The Consolidated Interim Financial Statements
For six month period ended 30 June 2019
_________________________________________________________________________

1. Nature of operations
Promisia Integrative Limited (Company) and its subsidiaries (the Group) principal activities are
focused on developing and marketing unique natural products based on robust research.

2. General information and statement of compliance

The company is registered under the Companies Act 1993 and is a Financial Markets Conduct
2013 reporting entity in terms of the Financial Markets Conduct Act 2013. The group is profit-
oriented.
Promisia Integrative Limited is a company domiciled in New Zealand. The registered office of
the company is level 4, 22 Panama Street, Wellington 6011.
Basis of Preparation
The unaudited interim financial statements have been prepared in accordance with Generally
Accepted Accounting Practice in New Zealand, which is the New Zealand equivalent to
International Financial Reporting Standards (NZ IFRS). They comply with NZ IAS 34 Interim
Financial Reporting and should be read in conjunction with the 31 December 2018 annual
report.
The financial statements are presented in New Zealand dollars which is the group’s functional
and presentation currency and rounded to the nearest thousand dollars unless otherwise
stated.
These financial statements do not include all the information required for full financial statements
and consequently should be read in conjunction with the full financial statements of the Group for
the year ended 31 December 2018.

The accounting policies adopted are consistent with those of the previous financial year. All new
standards and amended standards issued during 2019 and applicable after 1 January 2020
have not been adopted. The impact in the initial period of application is expected to be minimal
at this stage.

3. Disclosures
3.1 Going Concern
The Promisia Group has generated sales of $91,000 and net losses of $1,749,000 for the six
months to 30 June 2019. (Full year to 31 December 2018 - Sales $727,000 and net loss
$2,412,000). At 30 June 2019 the consolidated statement of financial position records a
position of negative working capital and equity.
It is the continuing opinion of the board of directors that there are reasonable grounds to
believe that its revised operational and financial plans in place are achievable and accordingly
the group is able to continue as a going concern and meet its debts as and when they fall
due. Accordingly, use of the going concern assumption remains appropriate in these
circumstances.
In arriving at this position the directors have considered the following pertinent matters:

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Promisia Integrative Limited
Notes to The Consolidated Interim Financial Statements
For the six month period ended 30 June 2019
_________________________________________________________________________________
1. A further $250,000 of new capital will be raised in 2019 to be used to fund the Group’s
working capital requirements and restructuring plans.
2. The Group has put in place a restructuring programme which is continuing and has
achieved a significant reduction in operating costs and cash flows.
3. Considered the impact of the Ministry of Health prosecution.
3.2 Operating segments
The Group’s reportable segments are based on the geographic location of its activities which
reflect the type of activities undertaken and have been determined based on internal reporting
used by management and the Board of Directors to assist strategic decision making.

3.3 Financial risk management
The Group's activities are exposed to a variety of financial risks: market risk, credit risk, liquidity risk,
cash flow risk and fair value interest-rate risk. The condensed interim financial statements do not
include all financial risk management information and disclosures required in the annual financial
statements; they should be read in conjunction with the Group's annual financial statements as at
31 December 2018. There have been no changes in the management of risk or in any risk
management policies in the current period. The Group does not have any derivative financial
instruments or any other financial assets or liabilities that are classified as instruments at fair
value through profit and loss under NZ IFRS.
The fair value of assets and liabilities approximates their carrying value.

3.4 Share Capital
The Group’s share capital includes fully paid, subscribed and treasury shares.
Issued and paid capital
There were 1,901,797,451 ordinary shares on issue at 30 June 2019 (30 June 2018
556,708,971).

At 30 June 2019 issued and paid capital comprised:


UnauditedUnauditedAudited
6 months6 monthsYear
30 June 201930 June 201831 Dec 2018
$000$000$000
Opening balance58,278 56,041 56,041
Shares issued- 950 2,300
Expired/retired options- 68 67
Issue costs- - (130)
58,278 57,059 58,278

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Promisia Integrative Limited
Notes to The Consolidated Interim Financial Statements
For the six month period ended 30 June 2019
_________________________________________________________________________________
On 22 January 2019 the company’s major shareholder, Brankin Family Interest Trust, advised
that it wished to exercise its right to subscribe for an additional 250 million shares at a price of
$0.001 per share. This issue of additional shares was approved by a special meeting of
shareholders on 4 December 2018. The 250 million shares represent shortfall shares not taken
up by eligible shareholders in the rights issue that closed on 24 December 2018.
During the period to 30 June 2019, the Brankin Family Interest Trust advanced $150,000 to
the company as part settlement of this transaction. On receipt of the balance of $100,000
owing for the subscription of these shares, the 250 million shares will be allotted to the Brankin
Family Interest Trust.
Unpaid ordinary shares – Treasury shares
At 30 June 2019, 16,595,856 shares (31 December 2018 - 16,595,856) remain unallocated
and are held by a nominee company Promisia Trustee Limited.
3.5 Inventory
During the period inventory was impaired by $1,096,223 and written off in the statement of
comprehensive income (31 December 2018 $313,000).
3.6 Related party information
During the six months to 30 June 2019, director fees of $50,000 (31 December 2018:
$100,000) were accrued.
The Brankin Family Interest Trust advanced $150,000 to the Group of which T.D Brankin is a
related party to the Trust and a director of the Group - see note 3.4.
3.7. Contingent liabilities
There were no contingent liabilities at 30 June 2019 (31 December 2018:$nil).
3.8 Notice of prosecution
On 7 February 2019 the company was served with a notice of prosecution by the New Zealand
Ministry of Health for alleged breaches of the Medicines Act 1981. In these charges the
Ministry alleges that the company has sold an unlicensed medicine and that certain advertising
by the company is in breach of the Medicines Act.
The company has made three brief appearances in the District Court, and the next court
appearance has been set down for 13 September 2019. The company intends to defend all
charges.

3.9 Capital commitments
There were no capital commitments at 30 June 2019 ( 31 December 2018:$nil).

3.10 Unaudited Financial Statements
The interim financial statements to 30 June 2019 have not been audited.

3.11 Events subsequent to balance date
There have been no matters or circumstances since the end of the interim reporting date not
otherwise dealt with in these interim financial statements that have significantly or may
significantly affect the Group’s operations.