| Interim information January - March 2015 |
| About Brighter AB (publ).
By means of its intellectual property Brighter develops innovations for people who live with a medical condition. We develop the tools that improve the situation and every day lives of individuals. Half of Sweden's 4.6 million households will be "connected" for home care or through mobile units within five years. Brighter's objective is to simplify, streamline and strengthen the relationship between patients and healthcare professionals through the development of innovations in the area of digital health - a market that already today - 2015 - is valued at 160 Billion US dollars on a global basis.
The Company's shares are listed on NASDAQOMX First North/BRIG.
Visit our website and subscribe to press releases: www.brighter.se/en.
| Interim information January 1 - March 31 2015.
- Operating revenues totalled TSEK 3 (TSEK 273).
- Profit/loss after financial items totalled TSEK -2,597 (TSEK -1,216).
- Earnings per share before dilution:
SEK -0.15. - Earnings per share after dilution:
SEK -0.15.
| Financial calendar.
Annual general meeting: 2015-06-17 kl 10:00, Norgegatan 2, Kista.
Half-year report January-June 2015: 2015-08-28.
Interim information January-September 2015: 2015-11-30.
Year-end report for 2015: 2016-02-19
| Significant events during the period.
- 2015-01-15 - Remium Nordic assumes the role as Certified Adviser.
- 2015-01-26 - Brighter extends its network with Doc. Michael Alvarsson as an advisor.
- 2015-02-06 - Brighter cancels the launch of Brighter One. The Board is investigating the options available to recover development costs from its development partner.
- 2015-02-10 - Brighter presents damage claims against its earlier development partner.
- 2015-02-20 - Brighter selects Veryday as its industrial design partner.
- 2015-03-16 - Brighter selects Helbling as its design & development partner.
- The Board of Directors has taken steps to ensure the financing of the Company.
- 2015-03-26 - Brighter publishes press release about collaboration with Microsoft in e- and m-health.
- 2015-03-30 - Brighter secures loan of 3 MSEK.
- 2015-03-30 - Brighter decides to undertake a rights issue with an overallotment issue.
| Significant events after the end of the period.
- 2015-04-17 - Brighter publishes a memorandum regarding the upcoming rights issue totalling MSEK 16.3.
- 2015-04-24 - Brighter informs the market that PRV, The Swedish Patent and Registration Office, intends to grant Brighter patent for the unique injection technique that will be used in the next generation Brighter One(TM).
- 2015-04-27 - Brighter informs the market that the company is expanding its global protection.
- 2015-05-08 - Brighter informs the market that the rights issue has been oversubscribed with 1,219%. The company has raised a total of MSEK 19.3 before issue costs.
- 2015-05-27 - Brighter publishes the year end report for 2014.
| Message from the CEO.
The first quarter was hard on all of us at Brighter with the cancelled launch and the decision to raise new funds. My main focus has been fundraising and that work has been intense. But all of our efforts have returned a great result which brings us peace of mind again and we are very thankful for the support we have received from our shareholders.
One of the lessons we have learned from all contact with you shareholders has been that the increased communication from our side has been very much appreciated. One of our goals will therefore be to continue being active in communicating what we do. But as before we will still not be able to share information before agreements have been signed and joint decisions have been taken regarding what shall be communicated.
The collaboration with Veryday and Helbling has had a flying start and I feel very reassured having their amazing competences under our own quality assurance. Internally we are working hard with recruiting new competences, which is an exciting task considering that some parts have never been done by anyone before us.
I would like to finish this letter by saying how proud and happy I am to have such dedicated and ambitious people that help us reach our goals. Both coworkers and the board of directors have all done fantastic jobs with refocusing and working hard towards the next generation Brighter One in spite of this years start.
Truls Sjöstedt, CEO Brighter AB (publ).
We are passionate about
understanding people
| The share.
Brighter AB (publ) is listed on the NASDAQOMX First North exchange under the abbreviation BRIG. NASDAQOMX First North is a trading platform designated as an MTF (Multilateral Trading Facility). As of March 31 2015, 16,956,094 shares had been issued. All shares grant equal rights to the Company's profits and assets.
Brighter's Certified Advisor at Nasdaq OMX First North is Remium Nordic AB.
| Insiders' holdings [1].
| Shares. | 2014-03-31 | Change. | 2015-03-31 |
| Truls Sjöstedt - CEO | 4,924,343 | 0 | 4,924,343 |
| Michael Frantzén | 3,745,310 | 0 | 3,745,310 |
| Gert Westergren - Chairman | 380,386 | 0 | 380,386 |
| Lars Flening - Board member | 24,862 | + 4,607 | 29,469 |
| Henrik Norström - COO | 23,744 | + 29,194 | 52,938 |
| Nadezda Ershova - Manager QA/RA | 0 | + 5,889 | 5,889 |
| Afsaneh Ghatan Bauer - Board member | 0 | + 25,000 | 25,000 |
| Options. | 2014-03-31 | Change. | 2015-03-31 |
| Truls Sjöstedt - CEO | 71,125 | 0 | 71,125 |
| Michael Frantzén | 30,014 , | 0 | 30,014 |
| Gert Westergren - Chairman | 512,459 | +37,000 | 549,459 |
| Lars Flening - Board member | 580,014 | + 2,000 | 582,014 |
| Nadezda Ershova - Manager QA/RA | 0 | + 135,499 | 135,499 |
| Petra Kaur Ljungman - Board member | 0 | + 16,500 | 16,500 |
| Sara Murby Forste - Board member | 0 | + 12,500 | 12,500 |
| Income statement in thousands kronor in summary.
| Thousand SEK. | 2015-01-01 | 2014-01-01 | 2014-01-01 |
| 2015-03-31 | 2014-03-31 | 2014-12-31 | |
| Operating revenue. | 3 | 273 | 1,758 |
| Capitalization of development[2]. | 0 | 271 | 1,758 |
| Other operating revenue. | 3 | 2 | 0 |
| Operating expenses. | -2,599 | -1,489 | -24,192 |
| Other external expenses. | -1,139 | -745 | -4,024 |
| Staff expenses. | -1,420 | -386 | -4,544 4 544 |
| Depreciation and amortization of tangible and intangible fixed. | -40 | -358 | -15,624 |
| Operating income. | -2,596 | -1,216 | -22,434 22 434 |
| Income from financial items. | -1 | -134 | -7 |
| Income after financial items. | -2,597 | -1,350 | -22,441 |
| Calculated earnings. | -2,597 | -1,350 | -22,441 |
| Earnings per share, before dilution. | -0.15 | -0.08 | -1.32 |
| Earnings per share, after dilution. | -0.15 | -0.08 | -1.32 |
| Number of shares, before dilution. | 16,956,094 | 16,956,094 | 16,956,094 |
| Number of shares, after dilution. | 19,267,205 | 18,149,706 | 19,267,205 |
| Average number of shares, before dilution. | 16,312,117 | 16,312,117 | 16,312,117 |
| Average number of shares, after dilution. | 18,623,228 | 17,505,729 | 18,623,228 |
| Balance sheet in thousand kronor in summary.
| Thousand SEK. | 2015-03-31 | 2014-03-31 | 2014-12-31 | |||
| ASSETS. | ||||||
| Fixed assets. | ||||||
| Intangible assets. | 8,697 | 10,571 | 8,511 | |||
| Capitalized R&D and similar work. | 582 | 610 | 622 | |||
| Concessions, IP and similar rights. | 50 | 0 | 50 | |||
| Total fixed assets. | 9,329 | 11,181 | 9,183 | |||
| Current assets | ||||||
| Current receivables | 555 | 912 | 942 | |||
| Cash and bank balances. | 538 | 23,907 | 3,686 | |||
| Restricted funds[3]. | 206 | 53 | 256 | |||
| Total current assets. | 1,299 | 24,872 | 4,884 | |||
| TOTAL ASSETS. | 10,628 | 36,053 | 14,067 | |||
| EQUITY AND LIABILITIES. | ||||||
| Equity. | ||||||
| Share capital. | 848 | 848 | 848 | |||
| Undistributed earnings / accumulated loss. | 6,517 | 30,310 | 9,164 | |||
| Total equity. | 10,628 | 36,053 | 10,012 | |||
| Long term debt. | 0 | 2,743 | 0 | |||
| Credit line. (limit 250 000 kr)[4]. | 0 | 102 | 0 | |||
| Other long term debt. | 0 | 2,641 | 0 | |||
| Short term debt. | 0 | 2,152 | 0 | |||
| Accounts payable. | 1,155 | 1,965 | 2,090 | |||
| Other liabilities. | 152 | 69 | 249 | |||
| Accrued expenses. | 1,956 | 118 | 1,715 | |||
| TOTAL EQUITY AND LIABILITIES. | 10,628 | 36,053 | 14,067 | |||
| PLEDGES[5]. | 206 | 53 | 256 | |||
| CONTINGENT LIABILITIES. | None | None | None | |||
We believe simplicity and access
drive behavioral change.
| Cash flow analysis in summary.
| 2015-01-01 | 2014-01-01 | |||
| 2015-03-31 | 2014-03-31 | |||
| Cash flow from operating activities before changes in in working capital | -2,557 | -992 | ||
| Changes in working capital | ||||
| Decrease/increase in current receivables | 393 | -411 | ||
| Decrease/Increase in current liabilities | -797 | 995 | ||
| Cash flow from operating activities | -2,961 | -408 | ||
| Investment activities | ||||
| Acquisition of intangible fixed assets | -186 | -2,263 | ||
| Acquisition of tangible fixed assets | 0 | -240 | ||
| Cash flow from investment activities | -186 | -2,503 | ||
| Financing activities | ||||
| New share issue (net after issuing costs) | -50 | 32,198 | ||
| Loans taken | 0 | -5,381 | ||
| Amortering av lån | ||||
| Cash flow from financing activities | -3,198 | 26,818 | ||
| Cash flow for the period | -3,198 | 23,907 | ||
| Opening liquid funds | 3,942 | 53 | ||
| Closing liquid funds [6]. | 744 | 23,960 | ||
- Accounting principles.
The accounting principles applied in this interim information January - March 2015 are in accordance with BFNAR 2007:1.
Brighter AB (publ) is the parent company in a group of companies, but it does not prepare any consolidated financial statements, with reference to the exemption rule in Chapter 7 Section 3 of the Swedish Annual Accounts Act (smaller groups of companies).
- Auditors review.
This interim information has not been reviewed by the Company's auditors.
| Certified Advisor.
Brighter's Certified Advisor at Nasdaq OMX First North is Remium Nordic AB
Submission of interim information January - March 2015.
Stockholm 5 June 2015.
Brighter AB (publ).
Board of directors.
- For further information please contact:
Truls Sjöstedt, CEO
Telephone: +46 709 73 46 00
E-mail: truls.sjostedt@brighter.se
Henrik Norström, COO
Telephone: +46 733 40 30 45
E-mail: henrik.norstrom@brighter.se
[1] After the rights issues in April/May 2015 insiders' holdings has increased. Current holdings are published at http://brighter.se/en/investors/insiders/
[2] The company has chosen not to activate costs for individual work or otherwise bring up costs for research and development in this statement. An update with the activation of these costs will be made in connection with the interim information Jan - Jun 2015 which will be published 2015-08-28.
[3] Brostaden - SEK 205,900 & Euroclear SEK 50,000 (+accumulated interest)
[4] In 2014 the Company cancelled its overdraft facility
[5] Brostaden - SEK 205,900 & Euroclear SEK 50,000 (+accumulated interest)
[6] Whereof pledged funds SEK 205,900.
Brighter AB - Interim information Jan-Mar 2015 http://hugin.info/160464/R/1926562/691394.pdf
HUG#1926562
