MiWire Group ApS

Description of key activities of the companyThe principal activities have been to develop and commercialize a fully automated directional antenna, which in a mobile network can increase the effective data rate and range, and all business, which in the opinion of the Board of Directors, is related to this.

Significant changes in the company's activities and financial mattersThere have been no significant changes in activities and financial matters.

The loss from ordinary activities after tax totals DKK -1.356.371 against DKK -1.230.237 last year. Management considers the net loss for the year satisfactory according to expectations.

Uncertainties connected with recognition or measurementThe management has chosen to recognize externally paid project costs as well as internally held wage costs as development projects in progress and acquired rights in the balance sheet. The total value is respectively 2.976 t. DKK. and 186 t. DKK per. 31 December. The value is based on management's expectations of the products' market potential and is thus associated with uncertainty, as the value depends on the company achieving sufficient success with the commercialization.

Going ConcernThe company's ability to continue operations is conditioned on the management succeeding in providing additional financing, to be able to complete the development project for commercialization.

It is the management's expectation that the necessary financing will be provided, and on that basis the annual report has been prepared under the assumption of going concern.

Events occurring after the end of the financial yearAfter the end of the financial year, no events have occurred that will significantly upset the company's financial position.

9.Contractual obligations and contingencies, etc.

Rent liabilities:

The company has entered into two lease agreements with a combined annual rent of DKK 399.156. One lease has a one-month notice period, while the other has a three-month notice period. The total rent obligation amounts to DKK 82.733.