Leap Materials ApS

The Company's main purpose is to develop, produce and sell a leather alternative material based on apple waste.

Description of material changes in activities and finances

The Company has implemented strategic optimisations to its operational cost base to enhance cash flow sustainability. Management continues to experience strong traction in the LEAP product. The Company has entered key development agreements, reflecting confidence in the product and market opportunity. ​ ​Management anticipates a significant improvement in revenue and cash flow, supported by a capital increase through debt conversion, entering new convertible loan notes, and entering new development agreements. ​For further details regarding going concern assessments, see note 1 to the financial statements.

The Company has recognised development projects at cost in the annual report. The recognition of development ​projects is subject to uncertainty, but Management firmly believes that the development projects give a true and ​fair view based on the expectations for the future. For more details, see note 3 to the financial statements.

The Company has recognised development projects at cost in the annual report. The recognition of development ​projects is subject to uncertainty, but Management firmly believes that the development projects give a true and ​fair view based on the expectations for the future.

In medio 2026, an extraordinary general meeting approved a capital increase through a debt conversion. Convertible debt of DKK 3,735k was converted at a conversion rate of DKK 701.25. Additionally, the Board was authorised to issue further convertible loan notes. Concurrently the Company entered into convertible loan note agreements totalling over DKK 4 million in cash supporting future operations.​​No other events have occurred after the balance sheet date to this date, which would influence the evaluation of this annual report.

In medio 2026, an extraordinary general meeting approved a capital increase through a debt conversion. Convertible debt of DKK 3,735k was converted at a conversion rate of DKK 701.25. Additionally, the Board was authorised to issue further convertible loan notes. Concurrently the Company entered into convertible loan note agreements totalling over DKK 4 million in cash supporting future operations. ​ ​No other events have occurred after the balance sheet date to this date, which would influence the evaluation of this annual report.

The Entity participates in a Danish joint taxation arrangement where Eydt Holding ApSserves as the administration company. According to the joint taxation provisions of the Danish Corporation Tax Act, the Entity is​therefore secondarily liable for income taxes etc. for the jointly taxed entities, which is limited to the equity interest by which the entity participates in the Group, and also secondarily liable 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.