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Abridged Unaudited Consolidated Financial Statements For The Quarter And Nine Months Ended 30 November 2018
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: GLI ISIN: MU0330N00004
(“the Company” or “the Group” or “Go Life”)
Abridged Unaudited Consolidated Financial Statements for The Quarter And Nine Months Ended
30 November 2018
DIRECTORS’ COMMENTARY
BACKGROUND
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 is registered in the Republic of Mauritius and was listed on the Stock Exchange of Mauritius
(“SEM”) on 7 July 2011. The Company successfully completed a secondary listing on the Alternative
Exchange (“AltX”) of the Johannesburg Stock Exchange (”JSE”) on 23 November 2016.
PRIMARY OBJECTIVE
The initial focus of the Company was to compete in the supplementary nutraceutical and cosmeceutical
markets by offering natural compounds that have been subjected to study and clinical trials. The focus
has shifted somewhat and Go Life is now a multi-faceted healthcare company, offering a comprehensive,
all-inclusive product range to address market needs in the pharmaceutical, generic, nutraceutical and
cosmeceutical markets. In addition, Go Life now offers a range of medicinal consumables and high end
sophisticated hospital equipment.
Being a nutraceutical company at heart, the advantages contained in medicinal cannabis could no longer
be ignored. Go Life has positioned itself strategically to enter the cannabis cultivation market and in
so doing, favourably positions itself to manufacture innovative and appropriate cannabis derived medicinal
products.
RESULTS COMMENTARY
Revenue grew by 87.29% for the three months ended 30 November 2018 (“Q3”) to USD 2 380 389 compared to,
USD 1 270 983 reported at the prior three-months ended 31 August 2018 (“Q2”). The growth in revenue is
attributed to the performance and the continuous popularity of the nutraceutical range offered in Gotha.
Pending negotiations on acquiring an elevated portion (currently 50%) is in process. An announcement in
this regard is anticipated shortly.
Profit from operations increased by 83.64% for Q3 to USD 894 716 from USD487 199 in Q2.
Income from associates increased by 46.16% to USD 114 839 (Q3) from USD 78 569 (Q2) and is derived
from the associate interest in Bon Health frail care operations.
COMPANY OUTLOOK
Go Life is currently in the process of incorporating medicinal cannabis into its nutraceutical products
range. To this end, Go Life is at an advanced stage of negotiating a settlement to acquire a majority
stake in Aziza Healthcare and the cultivating division known as Choice Organics. An announcement in
this regard will follow soon.
The potential acquisition of Aziza Healthcare favourably positions Go Life towards bringing innovative
ways of accurately administering medicinal cannabis.
Extensive research was conducted on developing channels for Gotha Health Products. To this end, Cosmetic
Connection has been identified as an excellent channel for the Gotha range of products. Cosmetic Connection
has 40 branches across South Africa and it is an ideal vehicle to introduce Gotha Health Products to a wider
South African market.
Go Life has also recently partnered with The Ingonyama Trust, which represents and manages King Goodwill
Zwelithini kaBhekuzulu’s land in KwaZulu Natal, with the aim of increasing the Gotha Health Products
preventative medical offering.
The transaction with Ascendis Health Direct, as announced on 4 September 2018, has been delayed due to
certain conditions precedent that have not yet been fulfilled. The parties are in the process of resolving
the outstanding matters, which are expected to be finalised imminently.
RELATED PARTY TRANSACTIONS
There were no transactions with related parties that are material to an understanding of these results.
DIVIDENDS
No dividends were authorized or paid during the period under review.
STATEMENT OF FINANCIAL POSITION
THE GROUP THE GROUP THE GROUP THE GROUP
Unaudited Unaudited Unaudited Audited
9 MONTHS 9 MONTHS 6 MONTHS 12 MONTHS
30 NOVEMBER 30 NOVEMBER 31 AUGUST 28 FEBRUARY
2018 2017 2018 2018
USD USD USD USD
ASSETS
Non - Current Assets 38 861 444 36 658 985 37 661 769 37 394 804
Investments in Associates 899 925 998 538 849 095 849 095
Intangible Assets 29 948 171 28 857 769 29 026 143 29 026 143
Property Plant and Machinery 8 013 348 6 802 678 7 786 531 7 519 566
Current Assets 1 286 729 1 088 572 1 313 558 856 012
Inventories 248 863 - 184 721 96 830
Trade and other Receivables 394 582 489 287 245 381 172 698
Cash and Cash Equivalents 643 284 599 285 883 456 572 724
Income taxes - - - 13 760
TOTAL ASSETS 40 148 173 37 747 557 38 975 327 38 250 816
EQUITY
Capital and Reserves 35 650 562 34 482 637 34 953 410 34 478 762
Share Capital 34 965 300 34 965 300 34 965 300 34 965 300
Accumulated Profit 685 262 (482 663) (11 890) (486 538)
Non Distributable Reserves - - - -
Foreign Currency Translation Reserve - - - -
LIABILITIES
Non - Current Liabilities 4 207 759 2 988 122 3 612 296 3 424 785
Loan - Shareholders 3 487 325 2 988 122 3 487 325 3 424 784
Loan – third party 720 434 - 124 971 -
Current Liabilities 289 852 276 798 409 623 347 269
Trade and other Payables 289 852 276 798 409 623 241 299
Income Tax - - - 105 970
TOTAL EQUITY AND LIABILITIES 40 148 173 37 747 557 38 975 327 38 250 816
STATEMENT OF PROFIT AND OTHER COMPREHENSIVE INCOME
THE GROUP THE GROUP THE GROUP THE GROUP THE GROUP
Unaudited Unaudited Unaudited Unaudited Audited
3 MONTHS 9 MONTHS 9 MONTHS 6 MONTHS 12 MONTHS
30 NOVEMBER 30 NOVEMBER 30 NOVEMBER 31 AUGUST 28 FEBRUARY
2018 2018 2017 2018 2018
USD USD USD USD USD
Revenue 1 109 406 2 380 389 1 568 463 1 270 983 1 819 213
Expenses (701 889) (1 485 673) (898 764) (783 784) (1 015 261)
PROFIT FROM OPERATIONS 407 517 894 716 669 699 487 199 803 952
Share of profits -Associates 36 270 114 839 95 612 78 569 190 565
Finance Income - - - - -
Finance costs (105 422) (312 403) (213 192) (206 981) (313 103)
PROFIT BEFORE TAXATION 338 365 697 152 552 119 358 787 681 414
Taxation - - - - (105 970)
NET PROFIT AFTER TAXATION 338 365 697 152 552 119 358 787 575 445
Other Comprehensive income - - - - -
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD 338 365 697 152 552 119 358 787 575 445
RECONCILIATION OF BASIC EARNINGS TO HEADLINE EARNINGS
THE GROUP THE GROUP THE GROUP THE GROUP
Unaudited Unaudited Unaudited Audited
9 MONTHS 9 MONTHS 6 MONTHS 12 MONTHS
30 NOVEMBER 30 NOVEMBER 31 AUGUST 28 FEBRUARY 2018
2018 2017 2018 2018
USD USD USD USD
Basic earnings 697 152 515 668 358 787 575 445
Headline earnings 697 152 515 668 358 787 575 445
Weighted average number of shares 900 000 000 900 000 000 900 000 000 900 000 000
Basic and diluted earnings per share (USD cents) 0.0775 0.0572 0.0399 0.0639
Headline earnings per share (USD cents) 0.0775 0.0572 0.0399 0.0639
STATEMENT OF CASH FLOWS
THE GROUP THE GROUP THE GROUP THE GROUP
Unaudited Unaudited Unaudited Audited
9 MONTHS 9 MONTHS 6 MONTHS 12 MONTHS
30 NOVEMBER 30 NOVEMBER 31 AUGUST 28 FEBRUARY
2018 2017 2018 2018
USD USD USD USD
Net Cash (used in)/ from other operating activities (68 054) 290 453 95 717 187 623
Cash from/(used in) investing activities
Property, plant and equipment 226 817 (77 964) 5 749 2 303
Movement in net cash resources 158 763 212 489 101 476 189 926
Balance at the start of the year 572 724 386 796 627 292 382 798
Balance at the end of the period 731 487 599 285 728 768 572 724
STATEMENT OF CHANGES IN EQUITY
Share Revenue Total
USD USD USD
Balance as at 31 August 2018 34 965 300 (11 890) 34 953 410
Balance as at 28 February 2018 34 965 300 (486 536) 34 478 764
Total Comprehensive Income for the period - 697 152 697 152
Balance as at 30 NOVEMBER 2018 34 965 300 210 616 35 175 916
SEGMENTAL REPORTING – 9 MONTHS ENDED 30 NOVEMBER 2018
Health Frail care
Products Property Associate Total
USD USD USD USD
Statement of net profit/loss
Revenue 1 857 712 522 677 114 839 2 495 228
Interest expenses - (312 403) - (312 403)
Income Tax - - - -
Net profit/(loss) for the period 372 039 210 274 114 839 697 152
Statement of financial position
Total Assets 29 945 837 7 519 566 849 095 38 314 498
Total Borrowings (720 434) (3 487 325) - (4 207 759)
SEGMENTAL REPORTING – 9 MONTHS ENDED 30 NOVEMBER 2017
Frail care
Nutraceutical Property Associate Total
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)
SEGMENTAL REPORTING – 6 MONTHS ENDED 31 AUGUST 2018
Frail care
Nutraceutical Property Associate Total
USD USD USD USD Frail care
Statement of net profit/loss
Revenue 848 453 343 961 78 569 1 270 983
Interest expenses (79 556) (127 425) - (206 981)
Income Tax
Net profit/(loss) for the period 768 897 216 536 78 569 1 064 002
Statement of financial position
Total Assets 29 882 155 7 519 566 849 095 38 250 816
Total Borrowings 1 212 348 2 212 436 - 3 424 784
SEGMENTAL REPORTING – 3 MONTHS ENDED 30 NOVEMBER 2018
Frail care
Nutraceutical Property Associate Total
USD USD USD USD
Statement of net profit/loss
Revenue 1 009 259 178 716 36 270 1 224 245
Interest expenses (79 556) (184 978) - (264 534)
Income Tax - - - -
Net profit/(loss) for the period 929 703 (6 202) 36 270 1 118 823
Statement of financial position
Total Assets 29 945 837 7 519 566 849 095 38 314 498
Total Borrowings (720 434) 3 487 325 - (4 207 759)
SEGMENTAL REPORTING – 12 MONTHS ENDED 28 FEB 2018
Frail care
Nutraceutical Property Associate Total
USD USD USD USD
Statement of net profit/loss
Revenue 887 097 741 551 190 565 1 819 213
Interest expenses - (71 064) - (71 064)
Income Tax - (105 970) - (105 970)
Net profit/(loss) for the period (179 637) 564 517 190 565 1 642 17
Statement of financial position
Total Assets 29 882 155 7 519 566 849 095 38 250 816
Total Borrowings - (3 424 784) - (3 424 784)
Notes
The Company is required to publish financial results for the 9 months ended 30 November 2018 in terms
of the Listing Rule 12.19 of the SEM. The abridged unaudited consolidated financial statements for the
3 months ended 30 November 2018 (“Financial Statements”) have been prepared in accordance with the
measurement and recognition requirements of International Financial Reporting Standards (“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 in terms of IFRS and
are consistent with those applied in the preparation of the audited financial statements of the year
ended 28 February 2018.
Copies of the abridged unaudited consolidated financial statements for the 9 months ended 30 November 2018
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 5th Floor, Atchia Building,
Cnr Suffren & Eugene Laurent Streets, Port Louis 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 2018 that require any additional disclosure or
adjustment to the Financial Statements.
Go Life has its primary listing on the Stock Exchange Mauritius and a secondary listing on the AltX of the
JSE.
By order of the Board
31 January 2019
For further information please contact:
FinAegis Ltd
(230) 213-2503
Executive Directors: Non-Executive Directors:
Gerhard Jacobus Naudè Mohamed Yusuf Sooklall
Marthinus Johannes Wolmarans Jean Daniel Laurent Paulin Marie
JSE Sponsor: Company Secretary:
Arbor Capital Sponsors (Pty) Ltd FinAegis Ltd
Date: 31/01/2019 03:35:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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