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GO LIFE INTERNATIONAL LIMITED - Abridged Unaudited Consolidated Financials for the year ended 30 November 2016

Release Date: 24/01/2017 17:35
Code(s): GLI     PDF:  
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Abridged Unaudited Consolidated Financials for the year ended 30 November 2016

GO LIFE INTERNATIONAL LIMITED
(Incorporated in the Republic of Mauritius)
(Registration number: 098177 C1/GBL)
SEM share code: GOLI.N0000
JSE share code: GLI ISIN: MU0330N00004
(“the Company” or “Go Life International”)



ABRIDGED UNAUDITED CONSOLIDATED FINANCIAL; STATEMENTS FOR THE THREE MONTHS ENDED 30 NOVEMBER 2016



DIRECTORS’ COMMENTARY

The Company was incorporated on 01 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 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 Alternative Exchange 
(AltX) and the conversion to a limited company became effective on 03 June 2016.


PRIMARY OBJECTIVE

Go Life International was established to leverage the strength of existing South African Nutraceutical 
companies, 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’s 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.

COMPANY OUTLOOK

The Company successfully completed a dual listing on the Alternative Exchange of the JSE on 23 November 2016. 
This affected the share price depicted on SEM as it increased from $0.03 to $0.04. The Company’s market 
capitalization was ZAR385 million at the date of listing with an opening share price of ZAR0.50c. Since the 
date of listing the share price has increased to ZAR0.65c and subsequently the market capitalization has 
increased with 30%. During 2016, the Company increased its shareholding in Go Life Health Products from 22%
(directly held) to 100% (78% indirectly held through its wholly-owned subsidiary, Go Life Global). Go Life 
Health Products holds 100% of Gotha Health Products.


SEGMENT INFORMATION

Go Life International endeavours to set the trend in the global nutraceutical and cosmeceutical markets. The 
proprietary technology base allows the group to expedite the formulation or creation of novel products to 
extend current product lines and broaden the product. At present, Bon Health Frail Care operates four frail 
care centres. Bon Health has been a leading frail care operator in the Western Cape since 2004 and is in the 
process of securing additional retirement and frail care developments in the rest of South Africa. Bon Health 
Care has been invited to take over the management, against a management fee from a third party frail care 
facilities, both established and in the design phase.


COMMENTARY ON THE RESULTS FOR THE ELEVEN AND THREE MONTHS ENDED 30 NOVEMBER 2016

The Company’s sales recorded an increase of 21% on the previous period while the operating profit before tax 
recorded an increase of 76% from the previous period. Earnings before tax on issued shares projected on a yearly 
basis increased for the period to 10.01% from the previous period’s 5, 81%. The Company will proceed to focus on
increasing sales over the next financial year,but moreover to attract more activity on SEM which will subsequently
increase the market capitalization.


DIVIDENDS

No dividends were authorized or paid during the period under review.


By order of the board
AceTer Global Limited
Company Secretary

24 January 2017




STATEMENT OF FINANCIAL POSITION

                                         THE GROUP          THE GROUP         THE COMPANY       THE COMPANY
                                        30 Nov 2016       31 Aug 2016       30 Nov 2016       31 August 2016
                                           USD                USD               USD                USD

ASSETS

Non-Current Assets                      28,682,500         28,693,868        25,744,246         25,744,246
Investments in Associates/Subsidiary             0                  0        25,744,246         25,744,246
Intangible Assets                       22,312,860         22,312,860                 0                  0
Property, Plant and Machinery            6,379,640          6,381,008                 0                  0


Current Assets                             590,694            408,133            13,221             13,221
Trade and other Receivables                363,285            183,257            10,687             10,687
Cash and Cash Equivalents                  227,409            224,875             2,534              2,534

TOTAL ASSETS                            29,283,193         29,102,001        25,757,467         25,757,467



EQUITY

Capital and Reserves                    28,225,645         28,125,445        25,690,455         25,690,455
Share Capital                           33,765,570         33,765,570        33,765,570         33,765,570
Retained Income / (Accumulated Losses)  (8,144,757)       (8,244,957)        (8,303,073)        (8,303,073)

Non Distributable Reserves              2,376,875           2,376,875                  0                  0
Foreign Currency Translation Reserve      227,958             227,958            227,958            227,958



LIABILITIES

Non-Current Liabilities                      898,304           881,747                 0                  0
Loan - Shareholders                          898,304           881,747                 0                  0

Current Liabilities                          159,244            94,809             67,012             67,012
Trade and other Payables                     159,244            94,809             67,012             67,012
Tax Payable                                        0                 0

TOTAL EQUITY AND LIABILITIES              29,283,193         29,102,001        25,757,467          25,757,467



STATEMENT OF CASH FLOWS


                                                     THE GROUP         THE GROUP         THE COMPANY        THE COMPANY
                                                    30 Nov 2016       31 Aug 2016        30 Nov 2016       31 August 2016
                                                       USD               USD                USD                 USD


Net Cash from Operating activities                  (14,023)            (86,657)                  0                    0
Net Cash from Investing activities                    16,557        (24,673,219)                  0         (24,100,470)
Net Cash (used in)Financing activities                     0          24,982,217                  0           24,100,470
                                                       2,534             222,341                  0                    0
Foreign Exchange movement                                  0                   0
Cash and Cash equivalents - start of the period      224,875               2,534              2,534                2,534
Cash and Cash equivalents - end of the period        227,409             224,875              2,534                2,534



STATEMENT OF PROFIT / LOSS AND OTHER COMPREHENSIVE INCOME

                                          THE GROUP         THE GROUP         THE COMPANY        THE COMPANY
                                         30 Nov 2016       31 Aug 2016       30 Nov 2016         31 Aug 2016
                                            USD               USD                USD                 USD


Revenue                                      722,443           599,098                 0                  0
Expenses                                    (627,647)         (551,209)                0            (5,996)
PROFIT/ (LOSS) FROM OPERATIONS                94,796             47,889                0            (5,996)
Share of profits - Associates                      0                  0                0                  0
Finance Income                                 5,475              5,154                0                  0
Finance Cost                                    (71)              (922)                0                  0
PROFIT / (LOSS) BEFORE TAXATION              100,200             52,120                0            (5,996)
Taxation                                           0                  0                0                  0
PROFIT/ (LOSS) FOR THE PERIOD                100,200             52,120                0            (5,996)
Other Comprehensive Income                         0                  0                0                  0

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD     100,200            52,120                0            (5,996)



STATEMENT OF CHANGES IN EQUITY

THE GROUP                        

                                                 Share        Currency      Retained          Non             Total
                                               Capital      Translation     Earnings      Distributable
                                                            Difference                        Reserves
                                                   USD             USD          USD                USD          USD


Balance as at 01 June 2016                   9,665,100         227,958    -8,297,077                 0    1,595,981


Total Comprehensive Income for the period                                     52,120                 0       52,120

Share Capital Issued                        24,100,470                                               0   24,100,470
Share Capital Cost                                                                                   0            0
Revaluation of Properties                                                                    2,376,875    2,376,875


Balance as at 31 August 2016                33,765,570        227,958     (8,244,957)        2,376,875   28,125,445



Balance as at 01 September 2016             33,765,570       227,958      (8,244,957)        2,376,875   28,125,445

Total Comprehensive Income for the period                                    100,200                       100,200
Share Capital Issued
Share Capital Cost
Revaluation of Properties


Balance as at 30 November 2016              33,765,570       227,958       (8,144,757)       2,376,875    28,225,645



THE COMPANY                       


                                                     Share        Currency      Retained               Non           Total
                                                   Capital      Translation     Earnings      Distributable
                                                                 Difference                        Reserves
                                                       USD              USD          USD                USD           USD


Balance as at 01 June 2016                       9,665,100          227,958   (8,297,077)                0       1,595,981

Total Comprehensive Income for the period                                         (5,996)                0         (5,996)
Share Capital Issued                            24,100,470                                               0      24,100,470
Share Capital Cost                                                                                       0               0


Balance as at 31 August 2016                    33,765,570          227,958    -8,303,073                0      25,690,455

Balance as at 01 September 2016                 33,765,570          227,958    (8,303,073)               0      25,690,455
                                                                                               

Total Comprehensive Income for the period                                                0               0               0
Share Capital Issued                                                                                     0               0
Share Capital Cost                                                                                       0               0
Revaluation of Properties                                                                                0               0


Balance as at 30 November 2016                  33,765,570          227,958     (8,303,073)              0      25,690,455



NOTES


The company is required to publish financial results for the eleven and three months ended 30 November 2016
 in terms of the Listing Rule 12.19 of the SEM. The abridged unaudited consolidated financial statements for 
the eleven and three months ended 30 November 2016 (“financial statements”) has 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.

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 29 February 2016.

Copies of the abridged unaudited consolidated financial statements 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 2016 that require any additional disclosure or adjustment to the financial statement.

For further information, please contact:   Arbor Capital Sponsors       AceTer Global Limited
                                            +27 (0) 11 480 8500            (230) 204 080

Date: 24/01/2017 05:35:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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