2024 Half Year Result and Interim Report

IPERION LIMITED
(FORMERLY SOUTHERN CHARTER
FINANCIAL GROUP LIMITED)


FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023

CONDENSED INTERIM
FINANCIAL STATEMENTS

Page 1 Interim Report 30 September 2023
Dear Shareholders

The Directors of Iperion Limited, formerly Southern Charter Financial Group Limited, (“the Company”) are
pleased to report its financial results for the six months ended 30 September 2023.

Financial Results
Iperion reports an unaudited net loss attributable to shareholders of $462,614 for the half year ended 30
September 2023. This compares with a net loss attributable to shareholders of $132,374 for the same period
last year.

The most notable change for the period is the establishment and commencement of the outsourced pilot
manufacturing plant, which added $300,000 to the expenses in the period. With the recent completion of the
plant setup and production trials, there was no production income in the period.

Compared to the prior period, administrative expenses incurred in the half year ended September 2023
increased by $40,767, much of which related to regulatory compliance costs, but also included a slight
increase in travel costs associated with management oversight of the overseas manufacturing plant.

Outlook
The Company remains in a position with a strong balance sheet which includes significant cash resources.
Having completed the establishment of the outsourced pilot scale production, the Company is currently in
the process of obtaining manufacturing and product certifications and engaging in sales and marketing
activities to move the Company into commercial production and sales. The Company will provide the market
with any updates as to material developments in due course.

The Directors of Iperion extend their thanks to the shareholders for their support of the Company.

Page 2 Interim Report 30 September 2023

CONTENTS

STATEMENT OF COMPREHENSIVE INCOME _____________________________________________ 3
STATEMENT OF FINANCIAL POSITION _________________________________________________ 4
STATEMENT OF CHANGES IN EQUITY __________________________________________________ 5
STATEMENT OF CASH FLOWS ________________________________________________________ 6
NOTES TO THE FINANCIAL STATEMENTS _______________________________________________ 7
BUSINESS DIRECTORY ____________________________________________________________ 10

Iperion Limited
(Formerly Southern Charter Financial Group Limited)
Page 3 Interim Report 30 September 2023
STATEMENT OF COMPREHENSIVE INCOME




These interim financial statements have not been audited, nor reviewed by the auditor and should be read in
conjunction with the accompanying notes and the annual financial statements for the year ended 31 March
2023.
For the period ended 30 September 2023
UnauditedUnaudited
Six monthsSix months
Sep-23Sep-22
$$
Interest Income20,789 10,289
Outsourced manufacturing plant expenses(300,000) -
Administrative expenses(183,404) (142,637)
Loss before income tax(462,614) (132,375)
Income tax expense- -
Net loss for the period attributable to shareholders(462,614) (132,375)
Other comprehensive income- -
(462,614) (132,375)
Earnings per share:centscents
Basic and diluted earnings/(loss) per share(0.090) (0.026)
Total comprehensive loss for the period, net of tax, attributable to
shareholders

Iperion Limited
(Formerly Southern Charter Financial Group Limited)
Page 4 Interim Report 30 September 2023
STATEMENT OF FINANCIAL POSITION



28 November 2023


Director: Bruce Dunlop Director: John Cilliers

These interim financial statements have not been audited, nor reviewed by the auditor and should be read in
conjunction with the accompanying notes and the annual financial statements for the year ended 31 March
2023.
As at 30 September 2023
UnauditedAudited
Six monthsYear
Sep-23Mar-23
$$
Assets
Current assets
Cash and cash equivalents441 382,113
Term Deposit1,222,696 1,211,811
Interest accrued on term deposits12,342 6,677
Prepayments- 100,000
GST receivable3,531 11,391
Income tax receivable (RWT)4,233 5,766
1,243,243 1,717,758
Non-current assets
NZX Deposit20,000 20,000
20,000 20,000
Total assets1,263,243 1,737,758
Equity and liabilities
Current liabilities
Trade and other payables99,518 111,418
Total liabilities99,518 111,418
Equity
Issued capital5,672,856 5,672,856
Accumulated loss(4,509,131) (4,046,516)
Total equity1,163,725 1,626,340
Total equity and liabilities1,263,243 1,737,758

Iperion Limited
(Formerly Southern Charter Financial Group Limited)
Page 5 Interim Report 30 September 2023
STATEMENT OF CHANGES IN EQUITY



These interim financial statements have not been audited, nor reviewed by the auditor and should be read in
conjunction with the accompanying notes and the annual financial statements for the year ended 31 March
2023.


For the period ended 30 September 2023
Issued
capital
Accumulated
Loss
Total equity
$$$
As at 1 April 20225,672,856 (3,766,409) 1,906,447
Loss for the period- (132,376) (132,376)
Total comprehensive loss- (132,376) (132,376)
Unaudited balance for the period ended 30 September 20225,672,856 (3,898,785) 1,774,071
As at 1 October 20225,672,856 (3,898,785) 1,774,071
Loss for the period- (147,731) (147,731)
Total comprehensive loss- (147,731) (147,731)
At 31 March 20235,672,856 (4,046,516) 1,626,340
As at 1 April 20235,672,856 (4,046,516) 1,626,340
Loss for the period- (462,615) (462,615)
Total comprehensive loss- (462,615) (462,615)
Unaudited balance for the period ended 30 September 20235,672,856 (4,509,131) 1,163,725

Iperion Limited
(Formerly Southern Charter Financial Group Limited)
Page 6 Interim Report 30 September 2023
STATEMENT OF CASH FLOWS



These interim financial statements have not been audited, nor reviewed by the auditor and should be read in
conjunction with the accompanying notes and the annual financial statements for the year ended 31 March
2023.
For the period ended 30 September 2023
UnauditedUnaudited
Six monthsSix months
Sep-23Sep-22
$$
Operating activities
15,124 6,510
Payments to suppliers(407,381) (152,732)
Interest paid- (31)
Net GST refunds received19,937 7,486
Income tax paid(4,233) (1,823)
Income tax refund received5,766 2,718
Net cash flows from operating activities(370,787) (137,872)
Investing activities
(10,885) 780,000
Net cash flows from investing activities(10,885) 780,000
Net increase / (decrease) in cash and cash equivalents(381,672) 642,128
Cash and cash equivalents at beginning of year382,113 21,749
Cash and cash equivalents at end of year441 663,877
Interest received
Cash received from/(invested in) maturity of term deposit

Page 7 Interim Report 30 September 2023
NOTES TO THE FINANCIAL STATEMENTS
1. STATEMENT OF ACCOUNTING POLICIES
Reporting entity
These unaudited interim financial statements and notes represent those of Iperion Limited (Formerly
Southern Charter Financial Group Limited ) (“IPR” or “the Company”).
Iperion Limited is a limited liability company incorporated and domiciled in New Zealand. The registered
office and principal place of business are disclosed in the directory to the annual report.
There are no seasonal or cyclical influences on these interim results.
Basis of preparation
These unaudited interim financial statements for the six months ended 30 September 2023 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”).
Iperion 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 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 2023 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 which is the Company’s functional
and presentation currency and are rounded to the nearest dollar.
The interim financial statements are unaudited. The comparative information as at 31 March 2023 is
audited.
Accounting policies
The interim financial statements have been prepared using the same accounting policies and methods of
computation detailed in the audited financial statements for the year ended 31 March 2023. For details
of the accounting policies please refer to the 2023 Annual Report.
These unaudited interim financial statements have been approved for issue by the Board of Directors on
28 November 2023.
2. SEGMENT INFORMATION
There have been no material change in the nature of operating segments since 31 March 2023.

Page 8 Interim Report 30 September 2023
3. ADMINISTRATIVE EXPENSES

4. FINANCIAL RISK MANAGEMENT
There have been no material changes in the management of risk or in any risk management policies in
the current period.

5. EARNINGS PER SHARE

There have been no changes in the estimated useful life of key items of plant and equipment.

6. NET TANGIBLE ASSET BACKING

Net tangible assets are calculated as total assets minus intangible assets, and less all liabilities.

UnauditedUnaudited
Six monthsSix months
Sep-23Sep-22
$$
Audi t fees - fi nanci al statements33,150 20,400
Contractors28,010 21,055
Di rectors' fees78,000 78,000
Travel and accommodati on15,536 4,685
Legal Fees5,920 6,355
NZX Li sti ng and regi stry costs19,518 11,444
Other3,270 698
183,404 142,637
UnauditedUnaudited
Six monthsSix months
Sep-23Sep-22
Total comprehensi ve l oss for the peri od, net of tax, attri butabl e to
sharehol ders
[ $ ]($462,614)($132,375)
Wei ghted average number of shares514,894,500 514,894,500
Basi c and di l uted earni ngs/(l oss) per share [ cents ](0.090) (0.026)
UnauditedAudited
Sep-23Mar-23
Net Tangi bl e Assets1,163,725 1,626,340
Issued shares at bal ance date514,894,500 514,894,500
Net Tangi bl e Asset per share (cents)0.226 0.316

Page 9 Interim Report 30 September 2023
7. RELATED PARTY TRANSACTIONS
Related party transactions for the period consisted of:
- Director fees of $18,000 each for KC Ng, Bruce Dunlop and John Cilliers and $24,000 for the
chairman Chang Ku EE.
- Included in administrative expenses is Management fees of $18,000 paid to Chang Ku EE and KC Ng
and $10,010 was paid to John Cilliers in relation to accounting services and preparation of the 2023
annual report.
8. COMMITMENTS AND CONTINGENT LIABILITIES
The antimicrobial license agreement contains minimum performance targets that set minimum royalty of
2.1% to be paid on revenue of SGD $150,000 within 2 years of the effective date and 2.1% on revenue of
SGD $1m from the third year on. The agreement became effective on 2 September 2022. The maximum
contingent liability arising in the event that no revenue has been earned by 2 September 2024 is
approximately $3,780 and $25,200 on 2 September 2025.
In accordance with the terms of the Pilot Outsourcing Agreement entered on 20 January 2023 for the
commercialization of antimicrobial coatings, the Company will pay fixed fees of NZD$400,000 per annum
towards the setup of the facility, engagement of core personnel and subsequent services, as well as
commission of 30% on gross profit. Invoices under the Pilot Outsourcing Agreement are payable in 30-
day instalments. However, the Company has the ability to terminate the Pilot Outsourcing Agreement at
any time, with prior notice to the Licensor, with no break fees.
There were no other capital commitments or contingent liabilities at 30 September 2023 (31 March
2023: $nil).
9. SIGNIFICANT EVENTS AFTER BALANCE DATE
There were no significant events subsequent to 30 September 2023.
On 28 November 2023 the company changed its name from Southern Charter Financial Group Limited to
Iperion Limited.
10. AUDIT
These interim financial statements are not required to be audited.

Page 10 Interim Report 30 September 2023

BUSINESS DIRECTORY

Company number:
4844319

Directors:
Chang Ku EE, Chairman
Kuan Chong NG
Bruce Dunlop
John Cilliers

Registered office:
Level 5 Tower Building,
50 Customhouse Quay,
Wellington, 6011

Share Registrar
Link Market Services Limited
Level 7, Zurich House
21 Queen Street
Auckland 1010

Bankers:
Westpac Bank Limited

Solicitors:
Duncan Cotterill
Wellington

Auditors:
BDO, Auckland
Auckland

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Results announcement



IPERION LIMITED
(Formerly Southern Charter Financial Group Limited)


Results for announcement to the market
Name of issuer Iperion Limited (Formerly Southern Charter Financial Group)
Reporting Period 6 months to 30 September 2023
Previous Reporting Period 6 months to 30 September 2022
Currency
Amount (000s) Percentage change
Revenue from continuing
operations
$0 0%
Total Revenue $0 0%
Net profit/(loss) from
continuing operations
($463) 250%
Total net profit/(loss) ($463) 250%
Interim/Final Dividend
Amount per Quoted Equity
Security
Not Applicable, it is not proposed to pay dividends
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
$0.0023
(as at 30 Sep 2023)
$0.0031
(as at 31 Mar 2023)
A brief explanation of any of
the figures above necessary
to enable the figures to be
understood
Please refer to the Unaudited Interim Report that accompany
this announcement.
Authority for this announcement
Name of person

authorised
to make this announcement
John Cilliers
Contact person for this
announcement
John Cilliers
Contact phone number +64 27 242-8485
Contact email address John.cilliers@outlook.co.nz
Date of release through MAP

29/11/2023

Unaudited financial statements accompany this announcement.