Wrap Text
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').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.