TriptoBIO ApSAktiv

Description of key activities of the companyLike previous years, the activities are to conduct research, development, production and sale of bio-based chemicals. TriptoBIO is a development-stage company whose operations and R&D activities to date have, to a significant extent, been financed through grants and convertible loans. As the convertible loans are recognised for accounting purposes as debt until any potential conversion, while ongoing development costs are charged to the income statement, the company has negative equity in the period until conversion or another capital structure solution is implemented.

Significant changes in the company's activities and financial mattersThere have been no significant changes in activities and financial matters. Profit or loss from ordinary activities after tax totals DKK -4.176 thousand against DKK -4.449 thousand last year. Management considers the net profit or loss for the year not satisfactory. The company has lost more than half of its capital base and is therefore subject to section 119 of the Danish Companies Act regarding loss of capital. Management expects the capital structure to be addressed either through conversion of the convertible loans into equity in connection with a future financing round or through an extension/restructuring into loan financing. In a pure loan financing solution, equity would remain negative in the short term, but management and the lender would in that case expect equity to be restored through future cash flows as the company’s products are commercialised. The objective is therefore not to cover the negative equity separately here and now, but to manage it as a natural consequence of the company’s current startup financing and the expected future financing and commercialisation plan.

Uddrag af ledelsesberetningen i den seneste årsrapport.