Brighter AB : Interim Report January - March 2014

|Brighter AB (publ) | |Interim Report January - March 2014 | | About Brighter AB (publ) Brighter One (TM) - the patented all-in-one solution that combines the five things that millions of diabetics need to use several times every day to survive and feel well. Brighter develops and commercializes innovative solutions for diabetes self- care. The Company's shares are listed on NASDAQOMX First North. More information is available at nasdaqomxnordic.com. Summary of the period January - March 2014 * Net turnover amounted to SEK 0 (0) * Profit after financial items amounted to KSEK -1 350 (-650) Significant events during the period * The Company executed two share issues, one Private Placement in the amount of SEK 24,999,996 and one Rights Issue in the amount of SEK 10,410,295, Whereby the Company raised a little over SEK 35,000,000 prior to deducting the issue related expenses. * The share capital was increased by SEK 252,930.65 and currently amounts to SEK 847,804.70. * On March 14(th) trading of the Brighter share was transferred to NASDAQOMX First North from AktieTorget. The aim, which the Company achieved, was to broaden the ownership of the Company's share and attract an international investor base. * During the period, the work to launch the product and achieve certification has elapsed as planned. Financial calendar Half-year report 2014: August 15(th) 2014 Report January - September 2014: November 14(th) 2014 Year-end Report 2014: February 20(th) 2015 Message from the CEO The first quarter of 2014 has been very positive for Brighter since capital raised in the private placement and the rights issue has both given the company long term capital and new investors. The work to close the issues required considerable resources but despite this, the company could continue to develop the production launch - developing tools, etc. - and proceed with the certification as planned. On a personal level it feels very positive to get proof, through interest of the investor community, that the Company and the staff are working toward the right goal - to help people with diabetes around the world with a better form of treatment. In the second quarter, we continue to work to get the product into production, but we will also strengthen the organization with relevant expertise and dedication. On June 18(th), we have scheduled our annual general shareholders meeting, during which we also intend to present and elect new board members - who each have relevant expertise and who have shown great interest in our company during the recruitment process. Truls Sjöstedt CEO Brighter AB (publ) The Share Brighter AB (publ) was listed on NASDAQOMX First North on March 14(th) 2014, following the move from AktieTorget on which the share was listed from February 3(rd) 2012. NASDAQOMX First North is a MTF (Multilateral Trading Facility) under the supervision of Finansinspektionen (Swedish financial markets authority). On March 31(st) 2014 there were 16,956,094 shares issued. All shares have equal rights to the company's profits and assets. Insiders' holdings Shares 03-31-2013 change 03-31-2014 ------------------------------------------------------------------------------- Truls Sjöstedt - CEO & Board Member 4,781,486 + 142,857 4,924,343 Michael Frantzén - Board Member 3,745,310 0 3,745,310 Gert Westergren - Chairman of the Board 237,526 + 142,860 380,386 Lars Flening - Board Member 16,862 + 10,107 26,969 Henrik Norström (related) - COO & Board Member 16,764 + 6,980 23,744 Stock options 03-31-2013 change 03-31-2014 ------------------------------------------------------------------------------- Truls Sjöstedt - CEO & Board Member 41,111 + 30,014 71,125 Michael Frantzén - Board Member 0 +30,014 30,014 Gert Westergren - Chairman of the Board 220,000 + 292,459 512,459 Lars Flening - Board Member 550,000 + 30,014 580,014 Henrik Norström (related) - COO & Board Member 0 0 0 Accounting principles This Interim Report January - March 2014 has been prepared following the K3 guidelines, unless otherwise stated. The report is prepared in accordance with the accounting council's recommendation. Auditor review This Interim Report has not been reviewed by the Company's auditors. Delivery of the Interim Report January - March 2014 Stockholm, May 9(th) 2014 Brighter AB (publ) The Board of Directors For further information, please contact: Truls Sjöstedt, CEO Telephone: +46 709 73 46 00 E-mail: truls.sjostedt@brightercompany.com Henrik Norström, COO/Controller Telephone: +46 733 40 30 45 E-mail: henrik.norstrom@brightercompany.com Gert Westergren, Chairman of the Board Telephone: + 46 705 55 77 99 E-mail: gert.westergren@brightercompany.com Income Statement in thousand SEK 01-01-2014 01-01-2013 03-31-2014 03-31-2013 Operating revenue 273 0 -------------------------------------------------------------------------------- Capitalization of development expenses, 271 0 Other operating revenue 2 0 Operating expenses -1,489 -637 -------------------------------------------------------------------------------- Other external expenses -745 -124 Staff expenses -386 -259 Depreciation and amortization of tangible and intangible fixed assets -358 -141 Other operating expenses 0 -113 -------------------------------------------------------------------------------- Operating income -1,216 -637 -------------------------------------------------------------------------------- Income from financial items -134 -22 -------------------------------------------------------------------------------- Interest income and similar items 0 0 Interest expense and similar items -134 -22 -------------------------------------------------------------------------------- Income after financial items -1,350 -659 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Earnings before tax -1,350 -659 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Calculated earnings -1,350 -659 -------------------------------------------------------------------------------- Balance Sheet in thousand SEK 03-31-2014 03-31-2013 ASSETS Fixed assets Intangible assets 10,571 5,392 Capitalized research and development and similar work 9,535 4,508 Concessions, patents , licenses, trademarks similar rights 1,036 884 Tangible fixed assets 610 112 Equipment, tools and installations 610 112 -------------------------------------------------------------------------------- Total fixed assets 11,181 5,504 -------------------------------------------------------------------------------- Current assets Current receivables 912 422 Receivables for subscribed unpaid share capital 0 0 Other receivables 912 422 Prepaid expenses Cash and bank balances 23,960 876 -------------------------------------------------------------------------------- Total current assets 24,872 1,298 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- TOTAL ASSETS 36,053 6,802 -------------------------------------------------------------------------------- EQUITY AND LIABILITIES Equity Restricted equity 848 595 Share Capital 848 595 Not registered share capital Undistributed earnings / accumulated loss 30,310 1,827 -------------------------------------------------------------------------------- Total equity 31,158 2,422 -------------------------------------------------------------------------------- Long-term liabilities 2,743 2,394 Credit line (limit 250,000 SEK ) 102 0 Other long-term liabilities 2,641 2,394 Current liabilities 2,152 1,985 Accounts payable 1,965 1,881 Other liabilities 69 104 Accrued expenses 118 0 -------------------------------------------------------------------------------- TOTAL EQUITY AND LIABILITIES 36,053 6,801 -------------------------------------------------------------------------------- Pledges Pledged bank deposits 53,054 52,814 Contingent liabilities Inga Inga [HUG#1784088]