Exhibit 99.2
Mobile Viewpoint Corporate B.V.
located, Alkmaar
Report on the financial
statements ending
June 30, 2021
Mobile Viewpoint Corporate B.V. Alkmaar |
Mobile Viewpoint Corporate B.V. Alkmaar |
Mobile Viewpoint Corporate
B.V. Alkmaar
Consolidated financial statements
Mobile Viewpoint Corporate B.V. Alkmaar |
Consolidated balance sheet as at 30 June 2021
(After proposal appropriation of result)
Assets
| | | | | 30-06-2021 | | | 31-12-2020 | |
| | | | | € | | | € | | | € | | | € | |
| Fixed assets | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
| Intangible assets | | 1 | | | | | | | | | | | | | | | | |
| Development costs | | | | | | | | | 166.509 | | | | | | | | 197.463 | |
| | | | | | | | | | | | | | | | | | | |
| Property, plant and equipment | | 2 | | | | | | | | | | | | | | | | |
| Other tangible assets | | | | | | | | | 104.847 | | | | | | | | 120.927 | |
| | | | | | | | | | | | | | | | | | | |
| Current assets | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
| Inventories and work in progress | | | | | | | | | | | | | | | | | | |
| Finished goods for resale and parts | | 3 | | | | | | | 1.949.427 | | | | | | | | 1.741.712 | |
| | | | | | | | | | | | | | | | | | | |
| Receivables | | | | | | | | | | | | | | | | | | |
| Trade receivables | | 4 | | | 690.947 | | | | | | | | 1.068.960 | | | | | |
| Taxes and social security charges | | 5 | | | 269.085 | | | | | | | | 208.968 | | | | | |
| Other accounts receivable | | 6 | | | 84 | | | | | | | | 15.991 | | | | | |
| Accruals and prepaid expenses | | 7 | | | 445.210 | | | | | | | | 226.515 | | | | | |
| | | | | | | | | | 1.405.326 | | | | | | | | 1.520.434 | |
| Cash and cash equivalents | | | | | | | | | | | | | | | | | | |
| Cash | | | | | 838 | | | | | | | | 838 | | | | | |
| ING Bank N.V. | | | | | 664.634 | | | | | | | | 1.861.560 | | | | | |
| | | | | | | | | | 645.472 | | | | | | | | 1.862.398 | |
| | | | | | | | | | 4.271.581 | | | | | | | | 5.442.934 | |
Mobile Viewpoint Corporate B.V. Alkmaar |
Liabilities
| | | | | 30-06-2021 | | | 31-12-2020 | |
| | | | | € | | | € | | | € | | | € | |
| Group equity | | 8 | | | | | | | 2.820.893 | | | | | | | | 2.730.452 | |
| | | | | | | | | | | | | | | | | | | |
| Provisions | | | | | | | | | | | | | | | | | | |
| Deferred tax liabilities | | 9 | | | | | | | 39.493 | | | | | | | | 39.493 | |
| | | | | | | | | | | | | | | | | | | |
| Current liabilities, accruals and deferred income | | | | | | | | | | | | | | | | | | |
| Trade payables | | 10 | | | 383.931 | | | | | | | | 272.542 | | | | | |
| Liabilities to group companies | | 11 | | | 694.264 | | | | | | | | 1.385.660 | | | | | |
| Payables relating to taxes and social security contributions | | 12 | | | 30.251 | | | | | | | | 34.994 | | | | | |
| Other payables | | 13 | | | 25.741 | | | | | | | | 722.053 | | | | | |
| Accruals and deferred income | | 14 | | | 273.008 | | | | | | | | 257.740 | | | | | |
| | | | | | | | | | 1.411.195 | | | | | | | | 2.672.989 | |
| | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | 4.271.581 | | | | | | | | 5.442.934 | |
Mobile Viewpoint Corporate B.V. Alkmaar |
Consolidated profit and loss account for the period 01-01 /30-06-2021
| | | | | 01-01 /30-06-2021 | | | 2020 | |
| | | | | € | | | € | | | € | | | € | |
| | | | | | | | | | | | | | | |
| Net Turnover | | 15 | | | | | | | 1.986.430 | | | | | | | | 5.603.035 | |
| Cost of raw materials | | 16 | | | 671.849 | | | | 2.086.659 | | | | | | | | | |
| Wages and salaries | | 17 | | | 535.368 | | | | 1.706.310 | | | | | | | | | |
| Social security charges | | 18 | | | 69.709 | | | | | | | | 138.970 | | | | | |
| Pension contributions | | 19 | | | 10.816 | | | | | | | | 18.495 | | | | | |
| Depreciation of intangible and tangible | | 20 | | | | | | | | | | | | | | | | |
| fixed assets | | | | | 94.515 | | | | | | | | 182.398 | | | | | |
| Other operating expenses | | 21 | | | 315.619 | | | | | | | | 767.074 | | | | | |
| | | | | | | | | | | | | | | | | | | |
| Total of sum of expenses | | | | | | | | | 1.697.876 | | | | | | | | 4.899.906 | |
Total of operating result | | | | | | | | | 288.554 | | | | | | | | 703.129 | |
| | | | | | | | | | | | | | | | | | | |
| Other interest and similar income | | 22 | | | 9.846 | | | | | | | | - | | | | | |
| Interest and similar expenses | | 23 | | | -188.108 | | | | | | | | -26.011 | | | | | |
| Currency exchange differences | | | | | - | | | | | | | | -39.357 | | | | | |
| | | | | | | | | | | | | | | | | | | |
| Financial income and expense | | | | | | | | | -178.262 | | | | | | | | -65.368 | |
Total of result of activities before tax | | | | | | | | | 110.292 | | | | | | | | 637.761 | |
| Income tax expense | | 24 | | | | | | | -19.850 | | | | | | | | -102.335 | |
| | | | | | | | | | | | | | | | | | | |
| Total of result after tax | | | | | | | | | 90.442 | | | | | | | | 535.426 | |
Mobile Viewpoint Corporate B.V. Alkmaar |
Notes to the consolidated financial statements
Entity information
Registered address and registration number trade register
The registered and actual address of Mobile Viewpoint Corporate B.V. is Keesomstraat 10 E, 1821 BS in Alkmaar Nederland. Mobile Viewpoint Corporate B.V. is registered at the Chamber of Commerce under number 59790989.
General notes
The most important activities of the entity
The activities of Mobile Viewpoint Corporate B.V. and its group companies consist mainly of developing services and products for mobile data transmission and commercial computer management services.
Disclosure of going concern
The accounting principles applied to the valuation of assets and liabilities and the determination of results in these financial statements are based on the assumption of continuity of the company. The financial impact of the Covid-19 pandemie is small. Although a few of our customers operate in an industry that initially became hard due to the consequences of the virus and as a result we have seen a slight decrease in turnover for a few months, this has manifested itself in the recovered during the year and new turnover was also generated as a result of the measures. Because of this, the continuity assumption used is therefore not affected.
Disclosure of group structure
Mobile Viewpoint Corporate B.V. is part of a group. The head of this group is Triple IT Corporate B.V. The financial statements of Mobile Viewpoint Corporate B.V. are included in the consolidated financial statements of Triple IT Corporate B.V.
Disclosure of estimates
In applying the principles and policies for drawing up the financial statements, the directors of Mobile Viewpoint Corporate B.V. make different estimates and judgments that may be essential to the amounts disclosed in the financial statements. If it is necessary in order to provide the transparency required under Book 2, article 362, paragraph 1, the nature of these estimates and judgments, including related assumptions, is disclosed in the notes to the relevant financial statement item.
The impact of the corona crises, wich is disclosed in the paragraph ‘Disclosure of going concern’, have not led to revision of estimates in the financial statement.
Disclosure of consolidation
The consolidation includes the financial information of Mobile Viewpoint Corporate B.V., its group companies and other entities in wich it exercises control or whose central management it conducts. Group companies are entities in wich Mobile Viewpoint Corporate B.V. exercises direct or indirect control based on a shareholding of more than one half of the voting rights, or of wich it has the authority to govern otherwise their financial and operating policies. Potential voting rights that can be exercised directly from the balance sheet date are also taken into account.
Group companies and other entities in wich Mobile Viewpoint Corporate B.V. exercises control or whose central management it conducts are consolidated in full. Participating interests in group equity and group result are disclosed seperately. Participating interests over wich no control can be exercised (associates) are not included in the consolidation.
Intercompany transactions, profits and balances among group companies and other consolidated entities are eliminated, unless these results are realised through transactions with third parties. Unrealised losses on intercompany transactions are also eliminated, unless such a loss qualifies as an impairment. The accounting policies of group companies and other consolidated entities have been changed when necessary, in order to align them to the prevailing group accounting policies.
Mobile Viewpoint Corporate B.V. Alkmaar |
The consolidated companies are listed below:
| - | Mobile Viewpoint B.V., Alkmaar, the Netherlands (100%) |
| - | IQ VideoSolutions B.V., Alkmaar, the Netherlands (100%) |
General accounting principles
The accounting standards used to prepare the financial statements
The consolidated financial statements are drawn up in accordance with the provisions of Title 9, Book 2 of the Dutch Civil Code and the Dutch Accounting Standards, as published by the Dutch Accounting Standards Board (‘Raad voor de Jaarverslaggeving’).
Assets and liabilities are generally valued at historical cost, production cost or at fair value at the time of acquisition. If no specific valuation principle has been stated, valuation is at historical cost.
The functional currency
Items included in the financial statements of group companies are measured using the currency of the primary economic environment in which the respective group company operates (the functional currency). The consolidated financial statements are presented in euros, which is the functional and presentation currency of Mobile Viewpoint Corporate B.V.
Foreign currency
Transactions, receivables and liabilities
Transactions in foreign currencies are stated in the financial statements at the exchange rate of the functional currency on the transaction date.
Monetary assets and liabilities in foreign currencies are converted to the closing rate on the balance sheet date of the functional currency. The translation differences resulting from settlement and conversion are credited or charged to the income statement.
Non-monetary assets measured at historical cost in a foreign currency are converted at the exchange rate on the transaction date.
Non-monetary assets (other than goodwill) measured at fair value in a foreign currency are converted at the exchange rate on the date on which the fair value was determined.
Operating leases
The corporation has lease contracts whereby a large part of the risks and rewards associated with ownership are not for the benefit of or incurred by the corporation. The lease contracts are recognised as operational leasing. Lease payments are recorded on a straight-line basis, taking into account reimbursements received from the lessor, in the consolidated profit and loss account for the duration of the contract.
Accounting principles
Intangible assets
Intangible fixed assets are stated at historical cost less amortisation. Impairments are taken into consideration; this is relevant in the event that the carrying amount of the asset (or of the cash-generating unit to which the asset belongs) is higher than its realisable value.
With regard to the determination as to whether an intangible fixed asset is subject to an impairment, please refer to the relevant section.
Mobile Viewpoint Corporate B.V. Alkmaar |
Research costs are recognised in the consolidated profit and loss account. Expenditure on development projects is capitalised as part of the production cost if it is likely from both a commercial and technical perspective that the project will be successful (i.e.: if it is likely that economic benefits will be realised) and the cost can be determined reliably. A legal reserve has been recognised within equity with regard to the recognised development costs for the capitalised amount. The amortisation of capitalised development costs commences at the time when the commercial production starts and takes place over the expected future useful life of the asset.
Property, plant and equipment
Other tangible fixed assets are valued at historical cost or production cost including directly attributable costs, less straight-line depreciation based on the expected future life and impairments.
Subsidies on investments will be deducted from the historical cost price or production cost of the assets to which the subsidies relate.
Inventories
Inventories (stocks) are valued at cost price based on the last known purchase price or lower realisable value.
The cost price consists of the historical cost or production cost and costs incurred in order to bring the stocks to their current location and current condition. The production cost includes direct labour and fixed and variable production overheads.
The realisable value is the estimated sales price less directly attributable sales costs. In determining the realisable value the obsolescence of the inventories is taken into account.
Receivables
Receivables are recorded initially at fair value and then at amortised cost, net of any provision for doubtful debts, determined individually. On initial recognition the fair value and the amortised cost are the same as the face value.
Cash and cash equivalents
Cash at banks and in hand represent cash in hand, bank balances and deposits with terms of less than twelve months. Overdrafts at banks are recognised as part of debts to lending institutions under current liabilities. Cash at banks and in hand is valued at nominal value.
Provisions
Provisions are measured at the best estimate of the amount that is necessary to settle the obligation as per the balance sheet date. Provisions are recognised at the present value of the expenditures expected to be required to settle the obligations, where the effect of the time value of money is material. If the period for which the expenditures are discounted is one year or less, other provisions are measured at undiscounted amounts. If a provision is measured at present value, any changes in the provision due to accrued interest are presented as interest expense.
Dutch pension schemes:
Mobile Viewpoint B.V. has a pension scheme to which the provisions of the Dutch Pension Act (`Pensioenwet’) are applicable. Mobile Viewpoint B.V. pays premiums based on (legal) requirements, a contractual or voluntary basis to an insurance companies. Premiums are recognised as employee cost when they are due. Prepaid contributions are recognised as deferred assets if these lead to a refund or reduction of future payments.
Contributions that are due but have not yet been paid are presented as liabilities.
Deferred tax liabilities
Deferred tax liabilities are recognised for temporary differences between the value of the assets and liabilities under tax regulations on the one hand and the book values applied in these financial statements on the other. The computation of the deferred tax liabilities is based on the tax rates prevailing at the end of the reporting year or the rates applicable in future years, to the extent that they have already been enacted by law.
Mobile Viewpoint Corporate B.V. Alkmaar |
Deferred tax balances are measured at undiscounted value.
Current liabilities
On initial recognition current liabilities are recognised at fair value. After initial recognition current liabilities are recognised at the amortised cost price, being the amount received taking into account premiums or discounts and minus transaction costs. This is usually the nominal value.
Accounting principles for determining the result
The result is the difference between the realisable value of the goods/services provided and the costs and other charges during the year. The results on transactions are recognised in the year in which they are realised.
Revenue recognition
Net turnover comprises the income from the supply of goods and services after deduction of discounts and such like and of taxes levied on the turnover.
Revenues from the goods supplied are recognised when all significant risks and rewards in respect of the goods have been transferred to the buyer.
Revenues from the services rendered are recognised in proportion to the services delivered, based on the services rendered up to the balance sheet date in proportion to the total of services to be rendered.
Gross operating result
The gross margin includes the net turnover, other operating income, costs of raw materials and consumables and costs of work contracted out, and other external costs.
Expenses of employee benefits
Short-term employee cost:
Salaries, wages and social security contributions are charged to the income statement based on the terms of employment, where they are due to employees and the tax authorities respectively.
Pension:
Mobile Viewpoint B.V. applies the liability approach for all pension schemes. The premium payable during the financial year is charged to the result. Changes in the pension provision are also charged to the result. We refer to the valuation principles for assets and liabilities, under Provision for pensions.
Amortisation of intangible assets
Intangible fixed assets are amortised from the date of initial use over the expected future economic life of the asset.
Future amortisation is adjusted if there is a change in estimated future useful life. Gains and losses from the occasional sale are included in depreciation.
Depreciation of property, plant and equipment
Tangible fixed assets are depreciated from the date of initial use over the expected future economic life of the asset, while taking into account any applicable restrictions from tangible fixed assets.
Future depreciation is adjusted if there is a change in estimated future useful life.
Gains and losses from the occasional sale of tangible fixed assets are included in depreciation. Financial income and expenses
Interest income and expenses are recognised on a pro rata basis, taking account of the effective interest rate of the assets and liabilities to which they relate. In accounting for interest expenses, the recognised transaction expenses for loans received are taken into consideration.
Exchange differences that arise from the settlement or translation of monetary items are recorded in the profit and loss account in the period in which they occur, unless hedge-accounting is applied.
Mobile Viewpoint Corporate B.V. Alkmaar |
Dividends to be received from participations and securities not carried at net asset value are recognised as soon as Mobile Viewpoint Corporate B.V. has acquired the right to them.
Income tax expense
Tax on the result is calculated based on the result before tax in the consolidated profit and loss account, taking account of the losses available for set-off from previous financial years and exempt profit components and after the addition of non-deductible costs. Due account is also taken of changes which occur in the deferred tax assets and deferred tax liabilities in respect of changes in the applicable tax rate.
In the financial statements of group companies a tax charge is calculated on the basis of the accounting result. The corporate income tax that is due by these group companies is charged into the current accounts with Mobile Viewpoint Corporate B.V.
| Mobile Viewpoint Corporate B.V. |
Alkmaar |
Notes to the consolidated balance sheet
Fixed assets
1 Intangible assets
| | | Development | |
| | | costs | |
| | | € | |
| | | | |
| Balance as at 1 January 2021 | | | | |
| | | | | |
| Cost or manufacturing price | | | 611.510 | |
| | | | | |
| Accumulated amortization | | | -414.047 | |
| | | | | |
| Book value as at 1 January 2021 | | | 197.463 | |
| | | | | |
| Movements | | | | |
| | | | | |
| Additions | | | 30.102 | |
| | | | | |
| Amortisations | | | -61.056 | |
| | | | | |
| Balance movements | | | 15.411 | |
| | | | | |
| Balance as at 30 June 2021 | | | | |
| | | | | |
| Cost or manufacturing price | | | 641.612 | |
| | | | | |
| Accumulated amortization | | | -475.103 | |
| | | | | |
| Book value as at 30 June 2021 | | | 166.509 | |
Amortisation and depreciation on intangible assets over a period of 3 years. This period equals the useful life.
| Mobile Viewpoint Corporate B.V. |
Alkmaar |
2 Property, plant and equipment
| | | Other tangible | |
| | | assets | |
| | | € | |
| | | | |
| Balance as at 1 January 2021 | | | | |
| | | | | |
| Cost or manufacturing price | | | 260.217 | |
| | | | | |
| Accumulated depreciation | | | -139.290 | |
| | | | | |
| Book value as at 1 January 2021 | | | 120.927 | |
| | | | | |
| Movements | | | | |
| | | | | |
| Additions | | | 8.145 | |
| | | | | |
| Depreciation | | | -24.069 | |
| | | | | |
| Disposals | | | -4.800 | |
| | | | | |
| Depreciation on disposals | | | 4.644 | |
| | | | | |
| Balance movements | | | -16.080 | |
| | | | | |
| Balance as at 30 June 2021 | | | | |
| | | | | |
| Cost or manufacturing price | | | 269.630 | |
| | | | | |
| Accumulated depreciation | | | -164.783 | |
| | | | | |
| Book value as at 30 June 2021 | | | 104.847 | |
Depreciation percentages used between 20%-33,3%
| Mobile Viewpoint Corporate B.V. |
Alkmaar |
Current assets
| | | 30-06-2021 | | | 31-12-2020 | |
| | | € | | | € | |
| 3 Finished goods for resale and parts | | | | | | | | |
| Finished goods for resale | | | 1.124.084 | | | | 954.428 | |
| Parts | | | 825.343 | | | | 787.284 | |
| | | | 1.949.427 | | | | 1.741.712 | |
| Receivables | | | | | | | | |
| 4 Trade receivables | | | | | | | | |
| Trade receivables | | | 690.947 | | | | 1.068.960 | |
| | | | | | | | | |
| 5 Taxes and social security charges | | | | | | | | |
| Value added tax | | | 143.672 | | | | 63.515 | |
| Company tax | | | 125.413 | | | | 145.263 | |
| Pension contributions | | | - | | | | 190 | |
| | | | 269.085 | | | | 208.968 | |
| | | | | | | | | |
| 6 Other amounts receivable | | | | | | | | |
| Other amounts receivable | | | 1.215 | | | | 10.182 | |
| Deposit | | | 5.809 | | | | 5.809 | |
| | | | 7.024 | | | | 15.991 | |
| | | | | | | | | |
| 7 Accruals and prepaid expenses | | | | | | | | |
| Prepaid expenses | | | 155.840 | | | | 155.816 | |
| Accruals | | | 282.346 | | | | 70.699 | |
| | | | 438.186 | | | | 226.515 | |
| Mobile Viewpoint Corporate B.V. |
Alkmaar |
Liabilities
8 Group equity
The shareholders’ equity is explained in the notes to the non-consolidated balance sheet.
Provisions
9 Deferred tax liabilities
| | | 30-06-2021 | | | 2020 | |
| | | € | | | € | |
| Balance as at 1 January | | | 39.493 | | | | 36.410 | |
| Addition | | | - | | | | 3.083 | |
| Balance as at 31 December | | | 39.493 | | | | 39.493 | |
Deferred tax liabilities are recognised for the taxable temporary differences between the tax base and the accounting base of intangible fixed assets, and it is probable that the temporary difference will not be reversed in the foreseeable future.
Current liabilities, accruals and deferred income
| 10 Trade payables | | | | | | | | |
| | | | | | | | | |
| Accounts payable | | | 383.931 | | | | 272.542 | |
| | | | | | | | | |
| 11 Liabilities to group companies | | | | | | | | |
| | | | | | | | | |
| Current account Triple IT B.V. | | | 698.264 | | | | 607.713 | |
| Current account Triple IT Corporate B.V. | | | - | | | | 777.947 | |
| | | | 698.264 | | | | 1.385.660 | |
An interest rate of 4% (2019: 4%) is applicable to the average intercompany balances. In respect of repayment and securities, no agreements have been made.
| 12 Payables relating to taxes and social security contributions | | | | | | | | |
| | | | | | | | | |
| Wage tax | | | 30.251 | | | | 34.994 | |
| | | | | | | | | |
| 13 Other payables | | | | | | | | |
| | | | | | | | | |
| Net wages | | | - | | | | - | |
| Audit and consultancy costs | | | 15.245 | | | | 6.370 | |
| Other amounts payable | | | 10.766 | | | | 715.683 | |
| | | | 26.010 | | | | 722.053 | |
Other amounts payable 2020 includes management bonus €600.000.
| Mobile Viewpoint Corporate B.V. |
Alkmaar |
| | | 30-06-2021 | | | 31-12-2020 | |
| | | € | | | € | |
| 14 Accruals and deferred income | | | | | | | | |
| Holiday allowance | | | 23.259 | | | | 62.631 | |
| Accruals and deferred income | | | 249.479 | | | | 195.109 | |
| | | | 272.738 | | | | 257.740 | |
Contingent assets and liabilities
Off-balance sheet commitments relating to guarantees
Mobile Viewpoint B.V. has provided performance Bond Guarantee for an amount of €30.621.
Disclosure of operating leases
As per year end the commitments relating with operating lease can be specified as follows:
Total Due €79.710, within one year €25.800, between one and five years €53.910, longer than five years €0 ..
| Mobile Viewpoint Corporate B.V. |
Alkmaar |
Notes to the consolidated profit and loss account
| | | 01-01/30-6-21 | | | 2020 | |
| | | € | | | € | |
| 15 Net Turnover | | | | | | | | |
| Turnover | | | 1.986.430 | | | | 5.603.035 | |
| | | | | | | | | |
| 16 Cost of raw materials | | | | | | | | |
| Cost of sales | | | 671.849 | | | | 2.086.659 | |
| | | | | | | | | |
| 17 Wages and salaries | | | | | | | | |
| Wages | | | 535.368 | | | | 1.113.455 | |
| Bonus | | | - | | | | 600.000 | |
| Sickness benefit | | | - | | | | -7.145 | |
| | | | 535.368 | | | | 1.706.310 | |
The bonus concerns bonus management due to settlements in the past. The bonus has been paid in 2021.
| 18 Social security charges | | | | | | | | |
| Social security charges | | | 85.909 | | | | 166.042 | |
| Tax credit WBSO | | | -16.200 | | | | -27.072 | |
| | | | 69.709 | | | | 138.970 | |
| | | | | | | | | |
| 19 Pension contributions | | | | | | | | |
| Pension charges | | | 10.816 | | | | 18.495 | |
| | | | | | | | | |
| 20 Depreciation of intangible and tangible fixed assets | | | | | | | | |
| Amortisation of intangible fixed assets | | | 61.056 | | | | 107.046 | |
| Depreciation of tangible fixed assets | | | 33.459 | | | | 75.352 | |
| | | | 94.515 | | | | 182.398 | |
| Mobile Viewpoint Corporate B.V. |
Alkmaar |
| | | 01-01/30-06-21 | | | 2020 | |
| | | € | | | € | |
| Depreciation of tangible fixed assets | | | | | | | | |
| Other fixed assets | | | 24.069 | | | | 51.712 | |
| Charged depreciation costs Triple IT B.V. | | | 9.390 | | | | 23.640 | |
| | | | 33.459 | | | | 75.352 | |
| 21 Other operating expenses | | | | | | | | |
| Other expenses of employee benefits | | | 80.348 | | | | 172.382 | |
| Housing expenses | | | 34.247 | | | | 65.181 | |
| Selling expenses | | | 75.750 | | | | 302.772 | |
| Car expenses | | | 15.487 | | | | 32.006 | |
| Office expenses | | | 79.608 | | | | 151.715 | |
| General expenses | | | 30.179 | | | | 43.018 | |
| | | | 315.619 | | | | 767.074 | |
| 22 Other interest and similar income | | | | | | | | |
| Interest of receivables from group companies | | | 9.846 | | | | - | |
| | | | | | | | | |
| 23 Interest and similar expenses | | | | | | | | |
| Interest liabilities to group companies | | | - | | | | 18.383 | |
| | | | | | | | | |
| Paid bank interest | | | 188.108 | | | | 7.628 | |
| | | | | | | | | |
| Interest liabilities to group companies | | | 188.108 | | | | 26.011 | |
| | | | | | | | | |
| Interest current account Triple IT Corporate B.V. | | | - | | | | 18.383 | |
| | | | | | | | | |
| 24 Income tax expense | | | | | | | | |
| | | | | | | | | |
| Tax on result | | | | | | | | |
| Corporate income tax current financial year | | | 19.850 | | | | 99.475 | |
| Corporate income tax previous financial year | | | - | | | | -223 | |
| Deferred corporate income tax | | | - | | | | 3.083 | |
| Total | | | 19.850 | | | | 102.335 | |
| Mobile Viewpoint Corporate B.V. |
Alkmaar |
25 Reconciliation to US GAAP
Certain transactions and account balances that will be recorded differently when prepared in accordance with generally accepted accounting principles in the United States of America. The following table reconciles certain items in the consolidated balance sheet as at 30 June 2021 and consolidated profit and loss accounts for 01-01/30-06-2021 to US GAAP:
-
| | | Reported under Dutch GAAP | | | Adjustment | | | US GAAP | |
| | | € | | | € | | | € | |
| Assets | | | | | | | | | | | | |
| Intangible fixed assets | | | 166.509 | | | | -166.509 | | | | - | |
| Tangible fixed assets | | | 104.847 | | | | - | | | | 104.847 | |
| Inventories | | | 1.949.427 | | | | - | | | | 1.949.427 | |
| Receivables | | | 1.405.326 | | | | - | | | | 1.405.326 | |
| Cash and cash equivalents | | | 645.472 | | | | - | | | | 645.472 | |
| Total | | | 4.271.581 | | | | -166.509 | | | | 4.105.072 | |
| Liabilities | | | | | | | | | | | | |
| Group equity | | | 2.820.893 | | | | -166.509 | | | | 2.654.384 | |
| Provisions | | | 39.493 | | | | - | | | | 39.493 | |
| Current liabilities, accruals and deferred income | | | 1.411.195 | | | | - | | | | 1.411.195 | |
| Total | | | 5.442.934 | | | | -166.509 | | | | 4.105.072 | |
| Profit and loss account | | | | | | | | | | | | |
| Net Turnover | | | 1.986.430 | | | | - | | | | 1.986.430 | |
| Cost of raw materials | | | 671.849 | | | | - | | | | -671.849 | |
| Wages and salaries | | | -535.368 | | | | - | | | | -535.368 | |
| Social security charges | | | -69.709 | | | | - | | | | -69.709 | |
| Pension contributions | | | -10.816 | | | | - | | | | -10.816 | |
| Depreciation/amortization | | | -94.515 | | | | 61.056 | | | | -33.459 | |
| Other operating expenses | | | -315.619 | | | | -30.102 | | | | -345.721 | |
| | | | 288.554 | | | | 30.954 | | | | 319.508 | |
| Interest and simulair income | | | -178.262 | | | | - | | | | -178.262 | |
| Currency exchange differences | | | - | | | | - | | | | - | |
| | | | 110.292 | | | | 30.954 | | | | 141.246 | |
| Income tax expense | | | -19.850 | | | | - | | | | -19.850 | |
| Total | | | 90.442 | | | | 30.954 | | | | 121.396 | |
26 Subsequent events
On August 16 2021, Triple IT Corporate B.V. entered into agreement with Vislink Limited to sell 100% of the outstanding capital of the Company, for an aggregate purchase price of €14.8 million plus the assumption and payment of €717.785 of intercompany indebtedness, all paid by Vislink Limited in cash, subject to certain routine closing adjustments in respect of working capital and net indebtedness. The transaction was closed on August 16, 2021.
