2024 Preliminary Full Year Result (Unaudited)

Results announcement

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IPERION LIMITED
(Formerly Southern Charter Financial Group Limited)

Results for announcement to the market
Name of issuer Iperion Limited (NZX: IPR)
Reporting Period 12 months to 31 March 2024
Previous Reporting Period 12 months to 31 March 2023
Currency NZD
Amount (000s) Percentage change
Revenue from continuing
operations
$0 0%
Total Revenue $0 0%
Net profit/(loss) from
continuing operations
$(812) (190%)
Total net profit/(loss) $(812) (190%)
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
$0.002 $0.003
A brief explanation of any of
the figures above necessary to
enable the figures to be
understood
Included with this report is the commentary from the Directors and
financial statements for the year ended 31 March 2024.
The financial statements are in the process of being audited.
Authority for this announcement
Name of person authorised to
make this announcement
John Cilliers
Contact person for this
announcement
John Cilliers
Contact phone number +6 27 242 8485
Contact email address john.cilliers@outlook.co.nz
Date of release through MAP 29 May 2024

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IPERION LIMITED
(Formerly Southern Charter Financial Group Limited)

Preliminary Full Year Result for the Year Ended 31 March 2024.

Dear Shareholders

The Directors of Iperion Limited, formerly Southern Charter Financial Group Limited, (“the
Company”) are pleased to report its financial results for the year ended 31 March 2024.

Financial Results
The Company reported a net loss attributable to shareholders of $812,259 for the year. This
compares with a net loss attributable to shareholders of $280,107 for the previous year.

A significant part of the cost for the year related to the establishment and operation of the
outsourced pilot manufacturing plant. The manufacturing plant expense for the year was $500,000,
of which $100,000 was for the establishment of the facility, with the balance of $400,000 being the
fixed annual facility and operating fees.

Administrative expenses for the year were $344,372 increasing by $38,175 on the prior year. The
expenses consist mostly of regulatory compliance costs, but increased during the year to include
expenditure on oversight of the manufacturing plant and in commencing product marketing
activities.

Operations
Since completing the setup of the manufacturing facility approximately halfway through the year,
the operations have been focused on completing production trials to validate the base product’s
manufacturing process and to obtain necessary certifications for the facility and products.

Product Development – Pathoglaze®
Iperion has registered the trademark name Pathoglaze for products using the licensed antimicrobial
compound. The base product compound will be sold as Pathoglaze Hyperion.

There was no sales income for the year. However, most of the plant operations, particularly in the
second half of the year, had been on undertaking development and trials applying Pathoglaze in
various applications. This work was undertaken predominantly in response to and in collaboration
with a number of large multinational commercial customers interested in applying Pathoglaze in
their product manufacturing processes. As a result of the development undertaken the possible
applications for Pathoglaze have significantly expanded from our initial expectations for the product
to mainly be used as a coating on glass and other surfaces. The possible applications of the
Pathoglaze antimicrobial product now also include; antimicrobial coatings for furniture and egg
cartons, kitchen chopping boards, applied to textiles to make odour combating clothing, or mixed in
plastics used in the automotive industry or in food containers to make them antimicrobial and as a
coating on curtains to reduce microbes in hospitals.

License agreement
Iperion has the exclusive worldwide licence for Pathoglaze. In recognition of the collaborative
efforts undertaken between the inventor of Pathoglaze and Iperion in the establishment of the pilot

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manufacturing facility and the ongoing product development, agreement was reached to extend the
minimum performance targets under the license agreement by a year. In accordance with the
variation, Iperion is to secure 5 customers for Pathoglaze with a total top line revenue of no less than
SGD150,000 for the 12 months ending 30 September 2025, increasing to SGD1,000,000 by 30
September 2026.

Future Growth Strategy
The Company remains in a position with a strong balance sheet. Having completed various product
trials the focus of the company is now on sales and marketing activities and converting the product
trials undertaken with potential customers into long term sales agreements.

On behalf of the Directors of Iperion the Company extends its thanks to the shareholders for their
support of the Company.

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Preliminary Statement of Comprehensive Income
For the year ended 31 March 2024
Unaudited Audited
Year Year
2024 2023
$$
Outsourced manufacturing plant expenses(500,000) -
Interest Income - financial asset at amortised cost41,396 26,121
Administrative expenses(344,372) (306,197)
(802,976) (280,076)
Depreciation, amortisation and impairment(9,283) -
Finance costs- (31)
Loss before income tax(812,259) (280,107)
Income tax expense- -
Net loss(812,259) (280,107)
Other comprehensive income- -
(812,259) (280,107)
Loss before interest
Total comprehensive income for the period attributable to
shareholders

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Preliminary Statement of Financial Position
As at 31 March 2024
Unaudited Audited
YearYear
20242023
$$
Assets
Current assets
Cash and cash equivalents168,647 382,113
Term Deposit691,074 1,211,811
Interest receivable on term deposit6,760 6,677
Prepaid production expenses- 100,000
GST receivable- 11,391
Income tax receivable (RWT)12,030 5,766
878,511 1,717,758
Non-current assets
NZX Deposit20,000 20,000
20,000 20,000
Total assets898,511 1,737,758
Equity and liabilities
Current liabilities
Trade and other payables84,430 111,418
Total liabilities84,430 111,418
Equity
Issued capital5,672,856 5,672,856
Accumulated loss(4,858,775) (4,046,516)
Total equity814,081 1,626,340
Total equity and liabilities898,511 1,737,758

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Preliminary Statement of Changes in Equity
For the year ended 31 March 2024
Issued
capital
Accumulated
Loss
Total equity
$$$
As at 1 April 20235,672,856 (4,046,516) 1,626,340
Loss for the year- (812,259) (812,259)
Total comprehensive income- (812,259) (812,259)
At 31 March 20245,672,856 (4,858,775) 814,081
As at 1 April 20225,672,856 (3,766,409) 1,906,447
Loss for the year- (280,107) (280,107)
Total comprehensive income- (280,107) (280,107)
At 31 March 20235,672,856 (4,046,516) 1,626,340
Unaudited

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Preliminary Statement of Cash Flows
For the year ended 31 March 2024
Unaudited Audited
Year Year
2024 2023
$$
Operating activities
41,313 22,265
Payments to suppliers(782,103) (444,164)
Interest paid- (31)
Net GST refunds received22,134 17,153
Income tax paid(12,030) (5,766)
Income tax refund received5,766 2,718
Net cash flows from operating activities(724,920) (407,825)
Investing activities
Purchase of intangible assets(9,284) -
520,737 768,189
Net cash flows from investing activities511,453 768,189
Net increase / (decrease) in cash and cash equivalents(213,467) 360,364
Cash and cash equivalents at beginning of year382,113 21,749
Cash and cash equivalents at end of year168,647 382,113
Interest received
Cash received from maturity of term deposit