2025 Half Year Result and Interim Report

Results announcement

IPERION LIMITED

Results for announcement to the market
Name of issuer Iperion Limited (NZX: IPR)
Reporting Period 6 months to 30 September 2024
Previous Reporting Period 6 months to 30 September 2023
Currency NZD
Amount (000s) Percentage change
Revenue from continuing
operations
$0 0%
Total Revenue $0 0%
Net profit/(loss) from
continuing operations
$(364) (21%)
Total net profit/(loss) $(364) (21%)
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
$0.0009
(as at 30 Sep 2024)
$0.0023
(as at 30 Sep 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 +6 27 242 8485
Contact email address john.cilliers@outlook.co.nz
Date of release through MAP 28 September 2024

---

IPERION LIMITED


FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2024

CONDENSED INTERIM
FINANCIAL STATEMENTS

Page 1 Interim Report 30 September 2024
Dear Shareholders

The Directors of Iperion Limited, (“the Company”) are pleased to report its financial results for the six months
ended 30 September 2024.

Financial Results
Iperion reports an unaudited net loss attributable to shareholders of $363,730 for the half year ended 30
September 2024. This compares with a net loss attributable to shareholders of $462,614 for the same period
last year.

There was no sales income in the period. The improvement in result compared to the same period last year
is mainly related to the establishment of the outsourced pilot manufacturing plant that increased costs by
$100,000 in the previous year.

Compared to the prior period, administrative expenses incurred in the half year ended September 2024
decreased by $14,715.

Operations and Product Development

Work is ongoing internationally to build awareness of Pathoglaze through direct contact with potential users
and through business trade exhibitions.

A number of potential users are currently conducting their own trials to identify the correct Pathoglaze mix to
suit their particular requirements. Ongoing Research and Development by Iperion’s outsourced
manufacturing provider continues to expand the range of applications for Pathoglaze and the potential size of
the market for the product.

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 2024

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
Page 3 Interim Report 30 September 2024
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
2024.
For the period ended 30 September 2024
Unaudited
Unaudited
Six months
Six months
Sep-24
Sep-23
$
$
Outsourced manufacturing plant expenses
(200,000)


(300,000)


Interest Income
8,123


20,790


Administrative expenses
(168,689)


(183,404)


Loss before income tax
(363,730)


(462,614)


Income tax expense
-


-


Net loss for the period attributable to shareholders
(363,730)


(462,614)


Other comprehensive income
-


-


(363,730)


(462,614)


Earnings per share:
cents
cents
Basic and diluted earnings/(loss) per share
(0.071)


(0.090)


Total comprehensive loss for the period, net of tax, attributable to
shareholders

Iperion Limited
Page 4 Interim Report 30 September 2024
STATEMENT OF FINANCIAL POSITION



28 November 2024


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
2024.
As at 30 September 2024
UnauditedAudited
Six monthsYear
Sep-24Mar-24
$$
Assets
Current assets
Cash and cash equivalents86,796 168,647
Term Deposit501,721 691,074
Interest accrued on term deposits75 6,760
GST receivable7,379 -
Income tax receivable (RWT)4,140 12,030
600,111 878,511
Non-current assets
NZX Deposit20,000 20,000
20,000 20,000
Total assets620,111 898,511
Equity and liabilities
Current liabilities
Trade and other payables179,761 93,105
GST Payable- 1,325
179,761 94,430
Non-current liabilities
Total liabilities179,761 94,430
Equity
Issued capital5,672,856 5,672,856
Accumulated loss(5,232,506) (4,868,775)
Total equity440,350 804,081
Total equity and liabilities620,111 898,511

Iperion Limited
Page 5 Interim Report 30 September 2024
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
2024.


For the period ended 30 September 2024
Issued
capital
Accumulated
Loss
Total equity
$$$
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 20225,672,856 (4,509,131) 1,163,725
As at 1 October 20235,672,856 (4,509,131) 1,163,725
Loss for the period- (359,644) (359,644)
Total comprehensive loss- (359,644) (359,644)
At 31 March 20245,672,856 (4,868,775) 804,081
As at 1 April 20245,672,856 (4,868,775) 804,081
Loss for the period- (363,731) (363,731)
Total comprehensive loss- (363,731) (363,731)
Unaudited balance for the period ended 30 September 20245,672,856 (5,232,506) 440,350

Iperion Limited
Page 6 Interim Report 30 September 2024
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
2024.
For the period ended 30 September 2024
Unaudited
Unaudited
Six months
Six months
Sep-24
Sep-23
$
$
Operating activities
14,808


15,124


Payments to suppliers
(294,836)


(407,381)


Net GST refunds received
4,098


19,937


Income tax paid
(4,140)


(4,233)


Income tax refund received
12,030


5,766


Net cash flows from operating activities
(268,040)


(370,787)


Investing activities
Purchase of intangible assets
(3,164)


-


189,353


(10,885)


Net cash flows from investing activities
186,189


(10,885)


Net decrease in cash and cash equivalents
(81,851)


(381,672)


Cash and cash equivalents at beginning of year
168,647


382,113


Cash and cash equivalents at end of year
86,796


441


Interest received
Cash received from/(invested in) maturity of term deposit

Page 7 Interim Report 30 September 2024
NOTES TO THE FINANCIAL STATEMENTS
1. STATEMENT OF ACCOUNTING POLICIES
Reporting entity
These unaudited interim financial statements and notes represent those of Iperion 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 2024 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 2024 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 2024 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 2024. For details
of the accounting policies please refer to the 2024 Annual Report.
These unaudited interim financial statements have been approved for issue by the Board of Directors on
28 November 2024.
2. SEGMENT INFORMATION
There have been no material change in the nature of operating segments since 31 March 2024.

Page 8 Interim Report 30 September 2024
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


UnauditedUnaudited
Six monthsSix months
Sep-24Sep-23
$$
Fees pai d to BDO Auckl and* - s tatutory audi t25,000 20,000
Fees pai d to BDO Auckl and* - s tatutory audi t pri or year14,190 13,150
Contractors24,095 28,010
Di rectors ' fees78,000 78,000
Travel and accommodati on7,130 15,536
Legal Fees890 5,920
NZX Li s ti ng and regi s try cos ts17,054 19,518
Other2,330 3,270
168,689 183,404
UnauditedUnaudited
Six monthsSix months
Sep-24Sep-23
Total comprehensi ve l oss for the peri od, net of tax, attri butabl e to
sharehol ders
[ $ ]($363,730)($462,614)
Wei ghted average number of shares514,894,500 514,894,500
Basi c and di l uted earni ngs/(l oss) per share [ cents ](0.071) (0.090)
UnauditedAudited
Sep-24Mar-24
Total Assets620,111 898,511
Less:
Total Li abi l i ti es(179,761) (94,430)
Net Tangi bl e Assets[ $ ]440,350 804,081
Issued shares at bal ance date514,894,500 514,894,500
Net Tangi bl e Asset per share (cents)[ cents ]0.086 0.156

Page 9 Interim Report 30 September 2024
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 $6,095 was paid to John Cilliers in relation to accounting services and preparation of the 2024
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 by 30 September 2025 and 2.1% on revenue of SGD $1m
annually from 30 September 2026. The maximum contingent liability arising in the event that no revenue
has been earned by 30 September 2025 is approximately $3,780 and $25,200 on 30 September 2026..
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 2024 (31 March
2024: $nil).
9. SIGNIFICANT EVENTS AFTER BALANCE DATE
There were no significant events subsequent to 30 September 2024.
10. AUDIT
These interim financial statements are not required to be audited.

Page 10 Interim Report 30 September 2024

BUSINESS DIRECTORY

Company number:
4844319

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

Registered office:
Level 2 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