INFUSER ApS

The company’s main activities is to develop, manufacture, promote and sell environmental friendly air purification technologies.

Description of material changes in activities and financesThe loss for the year after taxes is DKK (13,592) thousand. Last year’s loss was DKK (20,307) thousand. The total assets are DKK 23,388 thousand., and the equity is DKK (16,242) thousand.

Management are aware of the company’s financial situation and expects equity to be reconstructed in 2021 by capital from investors.

Completed development projects and acquired patents totals DKK 6,179k. The assets are measured at cost after depreciation and amortization. Since there has been no significant income related the mentioned projects and patents, the measurement is subject to material uncertainty. Management is confident that income and cash flow related to projects and patents will be significant and that the significant uncertainty primarily relates to the timing of income and cash flow. It is the opinion of Management that the net booked value of development projects and the related patents is not subject to impairment.

The repayment of the Company's receivables from group enterprises depends on these group enterprises’ ability to continue as going concerns. As material uncertainty is related to this fact, the valuation of the receivables from group enterprises is affected by the same uncertainty. Management expects that the receivables will be settled at the value recognized in the financial statements.

The outbreak of coronavirus has led to increased interest in the company’s technology and products, and this is expected to have a positive impact on the financial years to come.

The management is in dialogue with potential investors and expect new capital before the end of 2021. This capital will ensure both the capital structure of the company and group, and secure the cashflow needs to roll out the subsidiaries business plans. Management in the process of defining the investment terms with a potential new investors securing a significant capital injection, that will ensure both the capital structure as well as the cash flow needs for 2021.

No events other than above have occurred after the balance sheet date to this date, which would influence the evaluation of this report.

The Entity participates in a Danish joint taxation arrangement where Infuser Holding ApS serves as the administration company. According to the joint taxation provisions of the Danish Corporation Tax Act, the Entity is therefore liable for income taxes etc for the jointly taxed entities, and for obligations, if any, relating to the withholding of tax on interest, royalties and dividend for the jointly taxed entities. The jointly taxed entities' total known net liability under the joint taxation arrangement is disclosed in the administration company's financial statements.

17 Assets charged and collateralOther payables nom. DKK 7,500 thousand is secured with company charge. The security includes other fixtures and fittings, tools and equipment, intangible assets, inventories and trade recievables.

The company has provided customs duty guarantee for SEK 500,000.