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Abridged unaudited consolidated financial statements for the 3 months and 9 months ended 30 Nov 2017
GO LIFE INTERNATIONAL LIMITED
(Incorporated in the Republic of Mauritius)
(Registration number: 098177 C1/GBL)
Primary Listing SEM share code: GOLI.N0000
Secondary Listing JSE share code: GLIISIN: MU0330N00004
(“the Company” or “Go Life International”)
ABRIDGED UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE MONTHS AND NINE MONTHS
ENDED 30 NOVEMBER 2017
DIRECTORS’ COMMENTARY
The Company was incorporated on 1 October 2010 as a public company limited by shares under the Mauritian
Companies Act and holds a Category 1 Global Business License (License No - C110009034) issued by the
Mauritius Financial Services Commission. Go Life International is registered in the Republic of Mauritius and was
listed on the Stock Exchange of Mauritius (SEM) on 07 July 2011. The Company was previously structured as a
PCC under the PCC Act and was converted into a limited company and changed its name to Go Life
International Limited by way of a shareholder resolution on 31 March 2015. The name change was approved
on 16 June 2015 in anticipation of the inward listing on the Alternative Exchange (“AltX”) of the Johannesburg
Stock Exchange (“JSE”) and the conversion to a limited company became effective on 03 June 2016.
The results for the third quarter ended 30 November 2017 show an 8.7% increase in revenue compared to the
comparable quarter but reflect a large increase of 281% in profit from operations. This is due to improved
business and lower expenses associated with the listing in the current period. The income from associate arises
from the 49% interest in associate from the frail care operations of Bon Health Operations. The year ending 28
February 2018 will be the first full year of operations since the various acquisitions were concluded in the year
ended 28 February 2017 and accordingly the results for the 9 months ended 30 November 2017 are not strictly
comparable to the prior 9 month period ended 30 November 2016, for this reason the comparative figures for
the 9 months ended 30 November 2016, were not included.
PRIMARY OBJECTIVE
Go Life International was established to leverage the strength of existing South African nutraceutical
companies, Go Life Healthcare (previously known as Go Life Health Products) and Gotha Health Products
(collectively Go Life SA), and to drive the presence of the South African products and brands across the global
nutraceutical market. Go Life product range prides itself on its natural products and supplements originated in
the womb of Africa which are scientifically developed for the world and enhanced through unique
technology. After the secondary listing on the AltX, new opportunities and strategic partners have come into
being which have now positioned Go Life International to be a full-fledged medical and healthcare services
company.
COMPANY OUTLOOK
Go Life Healthcare (previously known as Go Life Health Products) holds 100% of Go Life SA, Bon Health Properties
(100%) and 49% of Bon Health Operations. Go Life SA focuses on nutraceuticals which aims to promote good
health, aid in the prevention of certain diseases or helps with recovery from illness under two brands, namely
the Gotha and Go Life brands. The products are still primarily sold in the Eastern Cape but initiatives are being
pursued to expand distribution channels and areas. This will include appointing channel and other strategic
partners.
Bon Health Properties owns five properties, one being an office block and four frail care facilities. Bon Health
Properties has a frail care and retirement village focus which also includes Alzheimer’s and dementia centres.
There is an international need for such facilities and Bon Health Operations has a highly effective and successful
reputation and knowledge in managing such facilities.
On the 22nd of February 2017 the Company signed an agreement with Elysium Healthcare Africa, giving the
Company exclusive access to a full range of health products, generic medicines, services and equipment; and
also to 25 countries in which Elysium Healthcare Africa has access. This relationship has attracted significant
interest and a number of activities have commenced in order to progress various opportunities.
DIVIDENDS
No dividends were authorized or paid during the period under review.
STATEMENT OF FINANCIAL POSITION
GROUP GROUP GROUP COMPANY COMPANY
30 Nov 2017 30 Nov 2016 28 Feb 2017 30 Nov 2017 30 Nov 2016
USD USD USD USD USD
ASSETS
Non - Current Assets 36 658 985 29 651 073 36 517 190 34 921 774 25 744 246
Investments in
Associates/Subsidiary 998 538 957 205 849 095 34 921 774 25 744 246
Intangible Assets 28 857 769 22 312 860 28 857 769 - -
Property Plant and Machinery 6 802 678 6 381 008 6 810 326 - -
Current Assets 1 088 572 590 694 638 321 1831 13 221
Trade and other Receivables 489 287 363 285 249 120 451 10 687
Cash and Cash Equivalents 599 285 227 409 382 798 1 380 2 534
Income Tax 6 402
TOTAL ASSETS 37 747 557 30 241767 37 155 510 34 923 605 25 757 467
EQUITY
Capital and Reserves 34 482 637 29 184 219 33 937 521 34 874 149 25 690 455
Share Capital 34 965 300 33 765 570 34 965 300 34 965 300 33 765 570
Accumulated Deficit (482 663) (7 186 184) (1 027 779) (71 082) (8 303 073)
Non Distributable Reserves 2 376 875
Foreign Currency Translation Res 227 958 227 958
LIABILITIES
Non - Current Liabilities 2 988 122 898 304 2 988 122 - -
Loan - Shareholders 2 988 122 898 304 2 988 122 - -
Current Liabilities 276 798 159 244 229 867 29 387 67 012
Trade and other Payables 276 798 159 244 229 867 29 387 67 012
TOTAL EQUITY AND LIABILITIES 37 747 557 30 241 767 37 155 510 34 923 605 25 757 467
STATEMENT OF PROFIT / LOSS AND OTHER COMPREHENSIVE INCOME
GROUP GROUP GROUP COMPANY
9 months 3 months 3 months 3 months
30 Nov 2017 30 Nov 2017 30 Nov 2016 30 Nov 2017
USD USD USD USD
Revenue 1 568 463 786 564 722 443 -
Expenses (898 764) (425 047) (627 647) (36 451)
PROFIT FROM OPERATIONS 669 699 361 517 94 796 325 437
Share of profits - Associates 95 612 34 984 - -
Finance Income - 5 475 -
765 311 396 501 100 271 288 986
Finance costs 213 192 (71 064) (71) -
PROFIT BEFORE TAXATION 552 119 325 437 100 200 288 986
Taxation - - - -
TOTAL COMPREHENSIVE INCOME FOR THE
PERIOD 552 119 325 437 100 200 288 986
STATEMENT OF CASH FLOWS
GROUP GROUP COMPANY COMPANY
30 Nov 2017 30 Nov 2016 30 Nov 2017 30 Nov 2016
USD USD USD USD
Profit/ Loss for the Period 325 437 (14 023) 288 986 109 188
Share of profit of associate (34 984) 16 557 (34 984) (28 535)
Net Cash from Operating activities 290 453 2 534 254 002 80 653
Trade and other receivables (489 287) (278 450) - -
Trade and other payables 276 798 229 867 29 387 67 012
Cash movement for the period 212 489 32 826 224 615 13 641
Cash and cash equivalents - Start of
period 386 796 224 875 1 380 91
Cash and cash equivalents – End of
period 599 285 227 409 225 995 2 534
STATEMENT OF CHANGES IN EQUITY
Accumulated Total
THE GROUP Stated Capital Deficit Equity
USD USD USD
Consolidation adjustment on acquisition of
investment 34 965 300 - 34 965 300
Total Comprehensive Income for the period - 325 437 325 437
Consolidation adjustments (918 591) (918 591)
Balance as at 31 August 2017 34 965 300 (593 154) 34 372 146
Retained
Income/accum Total
THE COMPANY Stated capital ulated Deficit Equity
USD USD USD
34 789
Balance as at 01 March 2017 34 965 300 (176 250) 050
Total Comprehensive Income for the period - 227 189 227 189
Share Capital Issued - - -
Reclassification adjustment - - -
35 016
Balance as at 31 August 2017 34 965 300 50 939 239
35 016
Balance as at 01 September 2017 34 965 300 50 939 239
Total Comprehensive Income for the period - 288 986 288 986
35 305
Balance as at 31 August 2017 34 965 300 339 925 225
SEGMENTAL REPORTING – 3 MONTHS ENDED 30 November 2017
Frail care
Nutraceutical Property Total
Associate
USD USD USD USD
Statement of net profit/loss
Revenue 562 742 188 838 34 984 786 564
Interest expenses - (71 064) - (71 064)
Income Tax - - - -
Net profit/(loss) for the period 172 679 117 774 34 984 325 437
Statement of financial position
Total Assets 29 582 209 6 802 678 998 538 37 383 425
Total Borrowings - (2 988 122) - (2 988 122)
SEGMENTAL REPORTING – 3 MONTHS ENDED 30 November 2016
Frail care
Nutraceutical Property Total
Associate
USD USD USD USD
Statement of net profit/loss
Revenue 540 463 153 745 28 235 722 443
Interest expenses - (71 064) - (71 064)
Income Tax - - - -
Net profit/(loss) for the period (10 716) 82 681 28 235 100 200
Statement of financial position
Total Assets 29 497 923 6 806 400 957 205 37 261 528
Total Borrowings - (2 988 122) - (2 988 122)
SEGMENTAL REPORTING – 9 MONTHS ENDED 30 November 2017
Frail care
Nutraceutical Property Total
Associate
USD USD USD USD
Statement of net profit/loss
Revenue 926 717 546 134 95 612 1 568 463
Interest expenses 213 192 213 192
Income Tax
Net profit/(loss) for the period 136 189 320 822 95 612 552 623
Statement of financial position
Total Assets 29 582 209 6 802 678 998 538 37 383 425
Total Borrowings - (2 988 122) - (2 988 122)
RECONCILIATION OF BASIC EARNINGS TO HEADLINE EARNINGS
GROUP GROUP GROUP
9 months 3 months 3 months
30 Nov 2017 30 Nov 2017 30 Nov 2016
USD USD USD
Basic earnings 515 668 287 726 100 200
Headline earnings 515 668 287 726 100 200
Weighted average number of
shares 900 000 000 900 000 000 431 379 750
Basic and diluted earnings per
share (USD cents) 0.0572 0.0320 0.0232
Basic and diluted headline
earnings per share (USD cents) 0.0572 0.0320 0.0232
Adjusted headline earnings per
share (USD cents) 0.0572 0.0320 0.0232
Notes
The Company is required to publish financial results for the 3 months and 9 months ended 30 November
2017 in terms of the Listing Rule 12.19 of the SEM and the JSE Listings Requirements. The abridged
unaudited consolidated financial statements for the 3 months and 9 months ended 30 November 2017
(“financial statements”) have been prepared in accordance with the measurement and recognition
requirements of IFRS, the requirements of IAS 34: Interim Financial Reporting and the SEM Listing Rules and
the JSE Listing requirements. The accounting policies adopted in the preparation of the financial
statements are consistent with those applied in the preparation of the audited financial statements of
the year ended 28 February 2017.
Copies of the Abridged Unaudited Consolidated Financial Statements for the 3 Months and 9 Months
Ended 30 November 2017 and the Statement of direct and indirect interests of each officer of the
Company, pursuant to Rule 8(2)(m) of the Securities (Disclosure Obligations of Reporting Issuers) Rules
2007, are available free of charge, upon request to the Company Secretary at the Registered Office of
the Company at Beau Plan Business Park, Pamplemousses 21001, Mauritius.
This communiqué is issued pursuant to SEM Listing Rules 11.3 and 12.20 and section 88 of the Securities
Act of Mauritius 2005. The Board accepts full responsibility for the accuracy of the information contained
in these financial statements. The Directors are not aware of any matters or circumstances arising
subsequent to the period ended 30 November 2017 that require any additional disclosure or adjustment
to the financial statements.
By order of the Board
AceTer Global Limited
Company Secretary
11 January 2018
For further information please contact:
AceTer Global Limited Arbor Capital Sponsors
(230) 243 5825 +27 (0) 11 480 8500
SPONSOR
Arbor Capital Sponsors Proprietary Limited
Date: 11/01/2018 02:14:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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