Rafarma Pharmaceuticals : RAFA Financials Q2

Company "Rafarma Pharmaceuticals Inc."

Combined Financial statements for the period ended,

June 30, 2022

Company Rafarma Pharmaceuticals Inc.

BALANCE SHEETS

ASSETS

Current assets:

Cash and cash equivalents

Accounts receivables

Short-term investments

VAT Recoverable

Inventories

Other current assets

Total current assets

Research and Development Property, plant, and equipment

Medical equipment for lease Long-term investments

Deferred tax assets

Other non-current assets

Total assets

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:

Accounts payables

Short-term borrowings

Other liabilities

Total current liabilities

Long-term borrowings

Deferred Tax Liabilities

Other long-term liabilities

Total liabilities

Stockholders' equity:

Common stock, $0.001 par value per share; 975,000,000 shares authorized; 87,766,999 shares issued and outstanding Preference share capital; $0.001 par value per share; 11,600,000 shares issued and outstanding

Retained earnings

Other Stockholder equity

Total liabilities and stockholders' equity

Notes

4

4

June 30,			December			December
2022	31, 2021	31, 2020
USD			USD ('000)			USD ('000)
('000)
17,118	13,596	5,440
23,134	20,268	23,681
83	27	677
20	50	77
33,922	21,302	13,617
-	-	217
74,277	55,243
1,413	881
49,931	28,468	22,243
-	-	-
3,435	2,396	2,300
635	403	283
2,622	1,953	1,689
132,313			89,344			70,634
18,828	17,224	17,499
1,055	1,612	30
419		219		-
20,302	19,054	17,529
663	89	466
2,544	696	544
-	0	0
3,207			784			1,010
88	88	88
12	12	12
76,908	47,509	29,961
31,796		21,900		22,035
108,804		69,506		52,095
132,313		89,344		70,634

The accompanying notes are an integral part of these financial statements.

Company Rafarma Pharmaceuticals Inc.

STATEMENTS OF INCOME

	Notes
Sales revenue
Cost of sales
Gross profit
Selling and marketing expenses
Operating expenses
Operating income
Net gain from interest
Net (loss) / gain from other sources
Income before taxes
Provision for income taxes
Net income (loss)
Net income per share - basic	4
Net income per share - diluted	4

Weighted average shares outstanding used in per common share computations:

Basic

Diluted

Period ended		Period ended
June 30, 2022		June 30, 2021
USD ('000)		USD ('000)
46,126	34,101
(29,896)	(21,401)
16,230		12,700
(3,069)	(3,402)
(7,785)	(2,744)
5,377		6,554
526	(5)
(0,129)	(161,000)
5,773		6,388
(1,207)	(1,298)
4,566		5,040
0.0520	0.0580
0.0520	0.0580

87,766,999 87,766,999

87,766,999 87,766,999

The accompanying notes are an integral part of these financial statements.

Company Rafarma Pharmaceuticals Inc.

STATEMENTS OF STOCKHOLDERS' EQUITY

				Share	Preference		Other Stockholder Equity		Retained	Total
				capital	share	Other	Revaluation of	Additional	Capital	earnings	equity
					capital	Equity	non-current	Capital	reserves
							assets
As	of	31					Amount in USD ('000)
December,	2020
(Un-audited)			88	12	8,857	665	12,198	315	29,961	52,095
Net income									11,573	11,573
Currency
revaluation reserve			(50)	(19)	(68)	(2)	9,395	9,258
Contributions to the
reserves				-	-	-	-	-	-	-	-
Dividends									(3,420)	(3,420)
As	of	31
December,	2021
(Un-audited)			87	12	8,807	645	12,130	313	47,509	69,504
Net income									4,566	4,566
Currency					3,983	291	5,485	142	24,834	34,734
revaluation reserve
Contributions to the
reserves				-	-	-	-	-	-	-	-
Dividends
As of 30 June,	87	12	12,790	936	17,615	455	76,909	108,804
2022 (Un-audited)

The accompanying notes are an integral part of these financial statements.

Company Rafarma Pharmaceuticals Inc.

STATEMENTS OF CASH FLOWS

(Unaudited)
	Period ended		Year Ended
	June 30,		December 31,
	2022	2021
Operating activities	USD ('000)		USD ('000)
Net income	4,566	11,573
Adjustments to net income:
Unrealized foreign exchange rate differences	36,774	12,304
Income Tax	(1,207)	(3,014)
Changes in operating assets and liabilities (net of
acquired assets and liabilities):
Changes in inventories	(12,621)	(7,685)
Changes in trade and other receivables	(2,866)	3,413
Changes in short term investments	(56)	650
Changes in VAT	30	27
Changes in trade and other payables	1,605	(275)
Changes in short term borrowings	(557)	1,582
Changes in other current assets	0	217
Changes in other liabilities	201	219
Net cash provided by operating activities
25,868	19,010
Investing Activities
Sale / purchase of property, plant, and equipment	(21,995)	(6,697)
Sale of asset subject finance lease		-
Disposal of other non-current assets	(669)	(264)
Net cash used in investing activities	(22,664)		(6,960)
Financing Activities
Disposal / (acquisition) of long-term investment	(1,039)	(96)
Payment of long-term borrowings	575	(377)
Payment of dividends	782	(3,420)
Net cash used in financing activities	318		(3,893)
Increase (decrease) in cash and cash equivalents	3,522	8,156
Cash and cash equivalents at beginning of year	13,596	5,440
Cash and cash equivalents at end of year	17,118		13,596

The accompanying notes are an integral part of these financial statements.