Me Today Limited/Announcement
Me Today Limited logo

Me Today results for the six months ended 30 September 2020

Half Year Results26 November 2020MEEConsumer Staples

27
th

November 2020


Me Today results for the six months ended 30 September 2020

Me Today Limited (NZX: MEE) has released its unaudited group results for the six months ended 30

th


September 2020.

Key Highlights:

• Net revenue grew by 132% on the same period last year from $183k to $424k.

• Operating loss of $1.26m versus $300k in the same period last year.

• Completion of successful capital raising of $4.3m net of capital raising costs.

• Cash reserves of $6.7m to support the planned growth strategy of the group.

• Stocked in 270 Unichem and Life Pharmacies through the Green Cross Health pharmacy

network nationwide.

• New product launches:

o Introduction of nine new supplements from April – August 2020.

o Launched six new skincare products in October 2020.

o Launched the Me Today Natural SPF30 Broad Spectrum Sunscreen in November

2020.

• Opening of the Me Today brand T-mall store in October 2020.

• Launched first Television campaign in October 2020, featuring Beauden Barrett and Sakura

Matches.

• Distribution discussions underway with potential partners in the United Kingdom, Ireland

and Japan.

Since listing on the NZX Main Board on 1

st

April 2020 the company has been implementing its

strategy of building the brand, market expansion, innovation, and channel development.

The six months to 30

th

September 2020 has seen a large amount of activity from the team, with

brand building highlights including:

• Growth of presence in the Green Cross Health network from 200 doors at 1

st

April 2020, to

270 now, a further 10 will be added prior to 31

st

December 2020.

• The signing of two global brand ambassadors: rugby star Beauden Barrett and Olympian

Sarah Walker.

• Development and implementation of radio, outdoor, digital and social media advertising

campaigns.

• Completion of the first brand television campaign airing on TVNZ during October and

November 2020.

During the six-month period the brand launched an additional 16 new products across skincare, sun

care and supplements. All 16 products are now stocked with the Green Cross Health group through

its Unichem and Life pharmacy stores..

Innovation and product development remain a key part of the brand’s strategy with further

development underway to assist the strategy of launching into international markets. Each market

has its own regulatory framework and the company has engaged with specialists in each market to

assist with product development.




The Group had revenue of $580k for the period before deducting the cost of marketing services

provided by a customer resulting in reported net revenue of $424k. The operating loss for the year

from the trading of both The Good Brand Company and Me Today divisions was $1.26m. The loss

arose as a result of ongoing investment in the brand, the sales team, and expansion into

international markets.

The strategy for the year ahead will be continued investment into growing the Me Today brand in

both New Zealand and international markets. As a result, the group will continue to be loss making

for the remainder of the FY21 year.

Me Today sales within stores in New Zealand continue to increase each month and together with

opportunities in international markets, the company is on track to deliver run rate annualised gross

revenue of $2m by March 2021.

The first steps have been completed to launch Me Today within the China market with listings on

both T-mall and Little Red Book. Investment around these platforms will increase in order to drive

sales and brand awareness in the online market in China.

The Me Today brand is in advanced discussion with distribution partners in the United Kingdom,

Ireland and Japan. The prospective partners have connections with large retail chains in these

markets and the company will provide further information as the negotiations in respect to these

partnerships are finalised.

The company is excited about the progress it has made in establishing, investing and growing the Me

Today brand during its first six months as a listed company and will update shareholders with

developments as the FY21 year progresses.

- ENDS -


For further information, please contact:

Michael Kerr

Chief Executive Officer, Me Today Limited

021 836 451

michael@metoday.com



About Me | Today

www.metoday.com


Me Today is a New Zealand owned and operated, health and wellness company with a nurturing

spirit. Encouraging positive change in the lives of its consumers through simple yet effective daily

self-care.

Based on science and tradition, Me Today’s range of supplements and skincare is thoughtfully

formulated in New Zealand using clean, high quality ingredients. Made effective and modern with

selfcare at its core, Me Today offers an efficacious cross-category product range that is clean, easy to

shop, and made with the environment in mind.

Created to help people put themselves first so that they are at their best to then look after the

people around them, Me Today is helping people unlock their best tomorrow.




--

Me Today supplements are made from premium quality formulas based on scientific and traditional

evidence, formulated for busy lifestyles. All products are encapsulated in easy to swallow vegetable

capsules and are packed in glass vessels for efficacy and environmental reasons.

The Me Today supplement range was launched in November 2019 with eight core complex products

to help with everything from general wellbeing to immune function, energy, mobility and relaxation.

The range has since grown to 17 supplements including high dose, targeted formulas such as B12 50,

Ashwagandha 3000, and Vitamin D3 1000.


Me Today Skincare is enriched with essential botanicals, antioxidants and vitamins blended specially

to hydrate, protect and comfort your skin. The entire Me Today skincare range is cruelty free, vegan

and/or vegetarian friendly, formulated without parabens, SLS/SLES, Phthalates, and is made from

93%+ naturally derived ingredients.

The Women’s Daily skincare range is enriched with botanical, antioxidants and vitamins from the Me

Today Women’s Daily supplement and spans the full spectrum from Micellar Gel, Cream Cleanser,

Mist Toner, Moisturiser and Serum to Eye Cream, Night Cream and a replenishing Face Mask.

The Protect skincare range is enriched with botanicals, antioxidants and vitamins from the Me Today

Protect supplement and includes a Lip Balm, Hand Wash, Hand Lotion, Hand Cream and the recently

added Mist Hand Sanitiser.

Most recently Me Today has expanded its skincare range to include four Vitamin Serums and two

Botanical Oils, enriched with active vitamins and supporting natural botanicals to provide targeted

treatment for skin.


Me Today Brand Roadmap


Vision – To be the leading wellness brand in pharmacy.

Mission – To help consumers live their best lives and feel good, both on the inside and outside.

Ambition – To be the ‘must have’ products to enhance consumers’ general wellbeing.



About The Good Brand Company Limited


Established in 2018 to grow agency brands. Specialists in the Health, Natural Skincare and Wellbeing

spaces. Currently selling products in Pharmacy (Green Cross Health, Chemist Warehouse, Independent

Pharmacy) and Health stores, with a dedicated national sales team. On behalf of its brand partners

currently The Good Brand Company has products in over 300 stores around New Zealand.


As part of the service provided, The Good Brand Company is also a commercial partner to brands,

offering services such as: key account management, supply and demand reviews, 4pl warehousing &

logistics options, go to market strategy input, trade marketing, brand marketing and ultimately a good

level of understanding of the New Zealand retail environment.





The Good Brand Company has positioned itself as the New Zealand sales partner for brands wanting

an effective yet efficient way to sell into New Zealand retailers.


The Good Brand Company believes in working with Good Brands, has Good people and offers Good

service.

---

27 November 2020
Unaudited results announcement for the 6 months ended

30 September 2020

Results for announcement to the market

Name of issuer Me Today Limited

Reporting Period Six months to 30 September 2020

Previous Reporting Period N/A

Currency NZD

Amount (000s) Percentage change

Revenue from continuing

operations

$424 N/A

Total Revenue $424 N/A

Net profit/(loss) from

continuing operations

($1,260) N/A

Total net profit/(loss) ($1,260) N/A

Interim/Final Dividend

Amount per Quoted Equity

Security

The Company does not propose to pay a dividend at this time

Imputed amount per Quoted

Equity Security

Not Applicable

Record Date Not Applicable

Dividend Payment Date Not Applicable

Current period Prior comparable period

Net tangible assets per

Quoted Equity Security

$0.01775 N/A

A brief explanation of any of

the figures above necessary

to enable the figures to be

understood

Refer to the market release attached.

Authority for this announcement

Name of person


authorised

to make this announcement

Stephen Sinclair

Contact person for this

announcement

Stephen Sinclair

Contact phone number 021 330053

Contact email address stephen@metoday.com

Date of release through MAP


27 November 2020

The unaudited interim financial statements accompany this announcement.

---

condensed consolidated
interim financial statements

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2020

contents
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

CONSOLIDATED STATEMENT OF CASH FLOWS

CONDENSED NOTES TO THE INTERIM

CONSOLIDATED FINANCIAL STATEMENTS

COMPANY DIRECTORY

4

5

6

7

9

22

Note
6 mths ended

30 Sep 2020

(unaudited)

NZ$000

6 mths ended

30 Sep 2019

(unaudited)

NZ$000

Revenue before marketing services

provided by customers

580 183

Less marketing services provided by customers(156) -

Revenue3424 183

Cost of sales(152) -

Selling and marketing expenses(870)(202)

Administrative expenses(707)(281)

Operating loss4(1,305)(300)

Finance expenses(1) -

Finance income46

Loss before tax(1,260)(300)

Income tax expense - -

Loss for the period(1,260)(300)

Other comprehensive income

Other comprehensive income for the period--


Total comprehensive loss for the period

attributable to owners of the company

(1,260)(300)

Earnings (loss) per share

Basic and diluted loss per share (NZ$)6(0.0033)(0.0036)

Consolidated Statement of

Comprehensive Income

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2020

Consolidated Statement of

Changes in Equity

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2020

These interim financial statements have not been audited, nor reviewed by the auditor.

The accompanying notes form part of these interim financial statements and should be read in

conjunction with them.

These interim financial statements have not been audited, nor reviewed by the auditor.

The accompanying notes form part of these interim financial statements and should be read in

conjunction with them.

Share

capital

NZ$000

Share based

payments

reserve

NZ$000

Accumulated

losses

NZ$000

Total

equity

NZ$000

Balance at 1 April 2019

(audited)

- - - -

Loss attributable to owners of

the company

- - (300)(300)

Balance at 30 September 2019

(unaudited)

- - (300)(300)

Balance at 1 April 2020

(audited)

9,350 - (5,027)4,323

Loss attributable to owners of

the company

- - (1,260)(1,260)

Ordinary shares issued4,500 - - 4,500

Less: share issue costs(181) (181)

Share options issued - 8 - 8

Balance at 30 September 2020

(unaudited)

13,669 8 (6,287)7, 3 9 0

5

interim financial statements | me | today

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Consolidated Statement
of Financial Position

AS AT 30 SEPTEMBER 2020

Consolidated Statement

of Cash Flows

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2020

Note

6 mths ended

30 Sep 2020

(unaudited)

NZ$000

6 mths ended

30 Sep 2019

(unaudited)

NZ$000

Cash flows from operating activities

Receipts from customers508 147

Payments to suppliers and employees(2,191)(590)

Interest received46 -

Interest paid(2) -

Income tax (paid)/refunded(3) -

Net cash used in operating activities13(1,642)(4 43)


Cash flow from investing activities


Payments for short term deposits(4,800) -

Payments for property, plant and equipment(64)(39)

Payments for intangibles(39)(32)

Net cash used in investing activities(4,903)(71)


Cash flow from financing activities


Proceeds from issue of share capital4,319 -

Payment of lease liabilities(13) -

Proceeds from shareholder advances - 500

Net cash flows from financing activities4,306 500


Net increase/(decrease) in cash and cash equivalents(2,239)(14)


Cash and cash equivalents at 1 April4,168 38

Cash and cash equivalents at 30 September1,929 24

Note

30 Sep 2020

(unaudited)

NZ$000

31 Mar 2020

(audited)

NZ$000

ASSETS

Current assets

Cash and cash equivalents1,929 4,168

Short term deposits4,800 -

Trade and other receivables517 247

Inventory830 341

Taxation receivable13 11

Total current assets

8,089 4,767


Non-current assets


Property, plant and equipment 98 23

Right-of-use asset8213 -

Intangible assets 74 62

Total assets 8, 474 4,852


LIABILITIES


Current liabilities


Trade payables and other liabilities 871 529

Lease liability959 -

Total current liabilities 930 529


Non-current liabilities

Lease liability9154 -

Total liabilities 1,084 529


Net assets

7, 3 9 0 4,323


EQUITY


Share capital1013,669 9,350

Share based payments reserve 8 -

Accumulated losses (6,287)(5,027)

Total equity

7, 3 9 0 4,323

These interim financial statements have not been audited, nor reviewed by the auditor. The accompanying

notes form part of these interim financial statements and should be read in conjunction with them.

For and on behalf of the Board:

These interim financial statements have not been audited, nor reviewed by the auditor. The accompanying

notes form part of these interim financial statements and should be read in conjunction with them.

Dated: 27 November 2020

Michael Kerr

CEO

Grant Baker

Chairman

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interim financial statements | me | today

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me | today | interim financial statements

1. General information
These financial statements are for Me Today Limited (‘MTL’ or ‘the Company’) and its subsidiaries, The

Good Brand Company Limited (TGBC) and Me Today NZ Limited (together ‘the Group’).

Me Today Limited, The Good Brand Company Limited and Me Today NZ Limited are limited liability

companies incorporated and domiciled in New Zealand. The address of their registered office is Level 1,

25 Broadway, Newmarket, Auckland 1141.

The Group produce, sell, and market health and wellbeing products or act as an agent on behalf of other

health and wellbeing suppliers.

2. Summary of Significant

Accounting Policies

REVERSE ACQUISITION

On 31 March 2020 the Company entered into

a reverse acquisition in which the Company

acquired 100% of the shares of the already

operating The Good Brand Company Limited

(‘TGBC’) and its 100% owned subsidiary Me Today

NZ Limited, in exchange for issuing 1.11 billion new

fully paid ordinary shares in the Company.

The reverse acquisition did not represent a

business combination in accordance with NZ IFRS

3: Business Combinations. The Board of Directors

therefore accounted for the reverse acquisition as

a share-based payment transaction, as an issue

of shares, in accordance with NZ IFRS 2 Share-

based Payment.

The appropriate accounting treatment for

recognising the new group structure was to treat

TGBC as the acquirer of MTL. The consolidated

financial statements prepared following the

reverse acquisition were issued under the name

of the legal parent (MTL) but describe the

continuation of the financial statements of the

acquirer, TGBC.

As a result of this accounting treatment, the

comparative information presented in the

consolidated financial statements for the six

months ended 30 September 2019 reflect the

trading of the TGBC and its subsidiary Me Today

NZ Limited.

BASIS OF PREPARATION

These unaudited interim consolidated

financial statements for the six months ended

30 September 2020 have been prepared in

accordance New Zealand Generally Accepted

Accounting Practice (“NZ GAAP”), with New

Zealand Equivalent to International Accounting

Standard 34: Interim Financial Reporting (“NZ IAS

34”) and with International Accounting Standard

34: Interim Financial Reporting (“IAS 34”).

Me Today Limited is a company registered under

the Companies Act 1993 and is an FMC reporting

entity under the Financial Markets Conduct Act

2013. The Company is listed on the NZX Market.

These financial statements have been prepared

in accordance with the requirements of the

Condensed Notes to the Interim

Consolidated Financial Statements

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2020

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Financial Markets Conduct Act 2013 and the NZX
Main Board Listing Rules.

The interim financial statements do not include

all of the notes of the type normally included

in an annual financial report. Accordingly, this

report should be read in conjunction with the

financial statements included in the annual report

for the year ended 31 March 2020 which have

been prepared in accordance with New Zealand

equivalents to International Financial Reporting

Standards (“NZ IFRS”) and International Financial

Reporting Standards (“IFRS”).

The interim financial statements are presented in

New Zealand dollars rounded, where necessary,

to the nearest thousand dollars.

The interim financial statements and the

comparative information as at 30 September 2019

are unaudited.

There are no seasonal or cyclical influences on

these interim results.

There have been no changes in accounting

policies since the last Annual Report except as

noted below.

SHARE BASED PAYMENT

TRANSACTIONS

For equity-settled share-based payments

where the goods or services acquired from

non-employees can be measured reliably, then

the goods or services are measured directly at

their fair value. If goods or services cannot be

measured reliably then the goods or services are

measured indirectly, i.e. with reference to the

fair value of equity instruments granted. Details

regarding the determination of the fair value of

equity-settled share-based transactions are set

out in note 12.

The fair value determined at the grant date of

the equity-settled share-based payments is

expensed on a straight-line basis over the vesting

period, based on the Group’s estimate of equity

instruments that will eventually vest, with a

corresponding increase in equity.

At the end of each reporting period, the Group

revises its estimate of the number of equity

instruments expected to vest. The impact of

the revision of the original estimates, if any,

is recognised in profit or loss such that the

cumulative expense reflects the revised estimate,

with a corresponding adjustment to the share-

based payments reserve.

COVID-19 PANDEMIC

In late March 2020, the New Zealand Government

ordered a four-week lockdown, during which

non-essential businesses and organisations were

not allowed to operate and individuals (other

than essential workers or those undertaking

essential business) were required to stay at home.

In late April 2020, the New Zealand Government

gradually started easing those restrictions.

In August 2020, Auckland again moved to a level

3 lockdown while the rest of the country moved

to level 2.

During the first four-week lockdown period the

Group had limited operations, which resulted

in revenue declines. Since the end of the first

lockdown period, the Group has been able to

operate, but the various levels of restrictions since

that time have impacted on the retail stores who

sell company product. As restrictions reduced

and retailers have become fully operational, the

Group has seen sales growth increase.

The Directors have concluded that the pandemic

has not had a material impact on the financial

statements, including trade debtors impairment

losses and inventory provisioning.

To date the Group has undertaken the following

steps to reduce the impact of COVID-19 on its

operations:

• reduced expenditure in areas of the

business, including removal of director fees

and reduction in key management personnel

remuneration until 1 June 2020

• taken advantage of the wage subsidies

made available by the New Zealand

Government.

Although the Group has been impacted by

COVID-19, the directors have concluded that the

Group will be able to continue operating for at

least 12 months from the date of signing these

financial statements. That conclusion has been

reached because the Group has substantial cash

reserves and it can further reduce expenditure if

it becomes necessary to do so.

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interim financial statements | me | today

6 mths ended
30 Sep 2020

(unaudited)

NZ$000

6 mths ended

30 Sep 2019

(unaudited)

NZ$000

Revenue from sale of goods before marketing services

provided by customers

314 -

Less marketing services provided by customers(156) -

Revenue from sale of goods158 -

Revenue from agency services266 183

Total revenue424 183

All revenue is generated in New Zealand.

3. Revenue

4. Expenses

The loss for the period includes the following expenses.

6 mths ended

30 Sep 2020

(unaudited)

NZ$000

6 mths ended

30 Sep 2019

(unaudited)

NZ$000

Salaries(505)(286)

Directors' fees(132) -

Depreciation and amortisation expenses(29)(5)

Employer kiwisaver contributions(14)(8)

Finance expenses:

Interest expense on lease liability(2) -

Fees paid to the auditor:

For the current year audit(26) -

For taxation services(11) -

Total fees paid to the auditor(37) -

6 mths ended

30 Sep 2020

6 mths ended

30 Sep 2019

Sale of

goods

NZ$’000

Agency

services

NZ$’000

Other /

un-

allocated

NZ$’000

Total

NZ$’000

Sale of

goods

NZ$’000

Agency

services

NZ$’000

Other /

un-

allocated

NZ$’000

Total

NZ$’000

Revenue before

marketing services

provided by customers

314 266 - 580 - 183 - 183

Less marketing services

provided by customers

(156) - - (156) - - - -

Total external revenue158 266 - 424 - 183 - 183

Total inter-segment

revenue

- - - - - - - -


Total EBITDA(799)(30)(443)(1,272) - (295) - (295)

Finance income - - 46 46 - - - -

Finance expenses(1)(1) - - - -

Depreciation and

amortisation

(26)(3)(4)(33)(1)(4) - (5)

Net loss before taxation(825)(33)(402)(1,260)(1)(299) - (300)

Income tax expense - - - - - - -

Net loss for the year(825)(33)(402)(1,260)(1)(299) - (300)

As at 30 Sep 2020As at 31 Mar 2020

Sale of

goods

NZ$’000

Agency

services

NZ$’000

Other /

un-

allocated

NZ$’000

Total

NZ$’000

Sale of

goods

NZ$’000

Agency

services

NZ$’000

Other /

un-

allocated

NZ$’000

Total

NZ$’000

Segment assets1,295 155 7, 0 2 4 8 , 474 538 102 4,212 4,852

Segment liabilities636 82 366 1,084 135 230 164 529

5. Segment information

The Group has identified its operating segments based on the internal reports reviewed and used by

the Chief Operating Decision Maker (CODM), being the Board of Directors, in assessing the Group’s

performance and in determining the allocation of resources.

Unallocated operating expenses include head office costs and costs related to the NZX listing.

All operations are carried out in New Zealand.

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6. Earnings per share
At 30 September 2020, the 3,000,000 share options on issue were not considered to be dilutive due to the

Group’s loss (30 September 2019: nil).

On 3 April 2020 the Company undertook a one for five share consolidation. The earnings per share

calculation reflects the impact of this share consolidation (refer to note 10).

The issued shares as at 31 March 2020 is before the share consolidation at 3 April 2020.

The losses and weighted average number of ordinary shares used in the calculation of loss per share are

as follows:

6 mths ended

30 Sep 2020

(unaudited)

6 mths ended

30 Sep 2019

(unaudited)

Basic earnings/(loss) per share (NZ$)(0.0033)(0.0036)

Diluted earnings/(loss) per share (NZ$)(0.0033)(0.0036)

6 mths ended

30 Sep 2020

(unaudited)

6 mths ended

30 Sep 2019

(unaudited)

Loss from continuing operations (NZ$000)(1,260)(300)

Weighted average number of ordinary shares used in the

calculation of basic and diluted earnings per share ('000)

386,314 82,910

7. Net tangible asset backing

30 Sep 2020

(unaudited)

31 Mar 2020

(audited)

Net tangible assets (NZ$000)7, 3 1 6 4,261

Issued shares at balance date ('000) 412,278 1,824,550

Net tangible assets per share (NZ$)0.01770.0023

8. Right-of-use asset

Premises

NZ$000

Total

NZ$000

Net carrying amount:

30 September 2020213 213

31 March 2020 - -

Depreciation expense for the 6 months ended:

30 September 202013 13

30 September 2019 - -

6 mths ended

30 Sep 2020

(unaudited)

6 mths ended

30 Sep 2019

(unaudited)

Additions to right-of-use assets226 -

Total cash outflows for leases14 -

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9. Lease liability
30 Sep 2020

(unaudited)

NZ$000

31 Mar 2020

(audited)

NZ$000

Maturity analysis

- contractual undiscounted cash flows

Up to one year68 -

One to two years87 -

Two to five years73 -

More than five years - -

Total undiscounted lease liabilities at period end228 -

Lease liabilities included in the statement of

financial position at balance date

Current59 -

Non-current154 -

213 -

10. Share capital

6 mths ended

30 Sep 2020

(unaudited)

‘000

6 mths ended

30 Sep 2019

(unaudited)

‘000

Number of ordinary shares

Ordinary shares as at 1 April1,824,550 414,550

Share consolidation(1,459,640) -

Ordinary shares issued during the period47,368 -

Ordinary shares as at 30 September412,278 414,550

11. Related party transaction

As at 30 September 2020, potential future cash outflows of $170,000 (undiscounted) relating to a two

year right of renewal, have not been included in the lease liability because it is not reasonably certain

that the Group will extend the lease.

On 3 April 2020 the Company undertook a one for five share consolidation.

On 15 June 2020 the Company entered into an Ambassador Agreement with BB Promotions Limited for

a term of three years. BB Promotions Limited is a related party to the Group, as the shareholder and

director of BB Promotions Limited, B Barrett, is married to H Barrett, a director of MTL.

Under the terms of the agreement, BB Promotions Limited agreed to provide promotional services to

the Company in exchange for the payment of $50,000 per annum, the issue by the Company of ordinary

shares to BB Promotions Limited to the value of $100,000 per annum, and the granting of 3,000,000

options to purchase ordinary shares in the Company (as detailed in note 12).

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12. Share options
6 mths ended 30 Sep 20206 mths ended 30 Sep 2019

Number of

Options

(unaudited)

Weighted

average

exercise price

(unaudited)

Number

of Options

(unaudited)

Weighted

average

exercise price

(unaudited)

Balance as at 1 April - - - -

Granted during the period3,000,000 $0.09 - -

Exercised during the period - - - -

Balance at 30 September3,000,000 $0.09 - -

6 mths ended

30 Sep 2020

(unaudited)

NZ$000

6 mths ended

30 Sep 2019

(unaudited)

NZ$000

Share based payments are included in:

Promotional costs8 -

Inputs into the model

Option series

Series 1Series 2Series 3

Grant date opening share

price

$0.082$0.082$0.082

Exercise price$0.09$0.09$0.09

Expected volatility0.35-0.450.35-0.450.35-0.45

Option life12.5 months24.5 months36.5 months

Dividend yield0%0%0%

Risk free interest rate0.18%0.25%0.32%

At 30 September 2020 BB Promotions Limited held options on 3,000,000 ordinary shares of the Company

(31 March 2020: nil). Each option coverts into one ordinary share of the Company on exercise. No

amounts are paid or payable by BB Promotions Limited on receipt of the options. The options carry no

rights to dividends and no voting rights. Options may be exercised at any time from the date of vesting to

the date of their expiry.

12.1. FAIR VALUE OF SHARE OPTIONS GRANTED IN THE PERIOD

The weighted average fair value of the share options granted during the financial period is $0.015.

Options were priced using the Black-Scholes option pricing model.

The expected volatility in the measure of fair value at grant date has been based on the volatility of the

Company’s share price from 6 April 2020 up to the Grant Date and for comparable companies, as a

proxy of the company’s future volatility.

At reporting date, 3,000,000 of the share options granted had not yet vested. These share options will

vest over the period to 30 June 2023 as detailed in the table below.

Option series

Number

Vesting

date

Expiry

date

Exercise

price

Fair value

at grant

date

30 Sept

2020

31 March

2020

Granted 15 June 2020

2021 options1,000,000 -

1 June

2021

30 June

2021

$0.09 $0.011

2022 options1,000,000 -

1 June

2022

30 June

2022

$0.09 $0.015

2023 options1,000,000 -

1 June

2023

30 June

2023

$0.09 $0.019

Balance at 30

September

3,000,000 -

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14. Contingent liabilities
There are no contingent liabilities as at 30 September 2020 (2019: nil).

15. Commitments

The Company had no commitments for future capital expenditure as at 30 September 2020 (2019: nil).

16. Events subsequent to reporting date

There have been no significant events after reporting date.

13. Reconciliation of loss after taxation

with cash flow from operating activities

6 mths ended

30 Sep 2020

(unaudited)

NZ$000

6 mths ended

30 Sep 2019

(unaudited)

NZ$000

Net loss after taxation(1,260)(300)

Adjustments for:

Depreciation and amortisation29 5

Share-based payments8 -

Movements in working capital

(Increase) / decrease in trade and other receivables(269)(61)

(Increase) / decrease in inventory(489)(312)

Increase / (decrease) in trade payables and other liabilities342 225

(Increase) / decrease in taxation receivable(3) -

Net cash outflows from operating activities(1,642)(4 43)

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Company Directory
REGISTERED OFFICE

Level 1, 25 Broadway,

Newmarket

Auckland 1141

New Zealand

POSTAL ADDRESS

PO Box 24421

Royal Oak

Auckland 1345

New Zealand

SHARE REGISTRY

Link Market Services

Level 11, Deloitte Centre

80 Queen Street

Auckland 1010

PO Box 91976

Auckland 1142

New Zealand

BANKERS

BNZ

Deloitte Building

80 Queens Street

Auckland 1010

New Zealand

AUDITOR

BDO Auckland

4 Graham Street

Auckland

New Zealand

22

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M E TO DAY.C O M

Data sourced from publicly available filings. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.

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