|Brighter AB (publ)
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|Interim Report January - March 2014
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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
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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
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Capitalization of development expenses, 271 0
Other operating revenue 2 0
Operating expenses -1,489 -637
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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
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Operating income -1,216 -637
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Income from financial items -134 -22
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Interest income and similar items 0 0
Interest expense and similar items -134 -22
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Income after financial items -1,350 -659
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Earnings before tax -1,350 -659
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Calculated earnings -1,350 -659
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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
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Total fixed assets 11,181 5,504
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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
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Total current assets 24,872 1,298
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TOTAL ASSETS 36,053 6,802
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EQUITY AND LIABILITIES
Equity
Restricted equity 848 595
Share Capital 848 595
Not registered share capital
Undistributed earnings / accumulated loss 30,310 1,827
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Total equity 31,158 2,422
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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
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TOTAL EQUITY AND LIABILITIES 36,053 6,801
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Pledges
Pledged bank deposits 53,054 52,814
Contingent liabilities Inga Inga
[HUG#1784088]
