36901969 2024-01-01 2024-12-31 36901969 2024-01-01 2024-12-31 0 36901969 2024-01-01 2024-12-31 1 36901969 2023-01-01 2023-12-31 36901969 2024-12-31 36901969 2023-12-31 36901969 2024-01-01 2024-12-31 0 iso4217:DKK xbrli:pure 2024-01-01 2024-12-31 36901969 2025-06-24 Casper Hallas <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Management’s Statement on the Annual Report</td></tr><tr><td colspan="1">The Executive Board have today discussed and approved the Annual Report 2024 of CMC development ApS.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">The Annual Report was prepared in accordance with the Danish Financial Statements Act.</td></tr><tr><td colspan="1">In our opinion, the annual report gives a true and fair view of the Company’s financial position at 31 December 2024 and the results of the Company’s operations for the financial year 1 January - 31 December 2024.</td></tr><tr><td colspan="1">In our opinion, the Management’s review includes a fair review of the matters discussed in the Management review.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">We recommend that the Annual Report will be approved at the annual general meeting.</td></tr></table> Charlottenlund 2025-06-11 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">To the shareholders of CMC development ApS</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Opinion</td></tr><tr><td colspan="1">We have audited the Financial Statements of CMC development ApS for the financial year 1 January – 31 December 2024, which comprise income statement, balance sheet, statement of changes in equity and notes, including a summary of significant accounting policies, for the Company. The Financial Statements are prepared in accordance with the Danish Financial Statements Act.</td></tr><tr><td colspan="1">In our opinion, the Financial Statements give a true and fair view of the Company’s financial position at 31 December 2024 and of the results of the Company’s operations for the financial year 1 January – 31 December 2024 in accordance with the Danish Financial Statements Act.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Basis for Opinion</td></tr><tr><td colspan="1">We conducted our audit in accordance with International Standards on Auditing (ISAs) and the additional requirements applicable in Denmark. Our responsibilities under those standards and requirements are further described in the “Auditor’s Responsibilities for the Audit of the Financial Statements” section of our report. We are independent of the Company in accordance with the International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (including International Independence Standards) (IESBA Code), together with the ethical requirements that are relevant to our audit of the financial statements in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Management’s Responsibilities for the Financial Statements</td></tr><tr><td colspan="1">Management is responsible for the preparation of Financial Statements that give a true and fair view in accordance with the Danish Financial Statements Act, and for such internal control as Management determines is necessary to enable the preparation of Financial Statements that are free from material misstatement, whether due to fraud or error.</td></tr><tr><td colspan="1">In preparing the Financial Statements, Management is responsible for assessing the Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting in preparing the Financial Statements unless Management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Auditor’s Responsibilities for the Audit of the Financial Statements</td></tr><tr><td colspan="1">Our objectives are to obtain reasonable assurance about whether the Financial Statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users of accounting information taken on the basis of these Financial Statements.</td></tr><tr><td colspan="1">As part of an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark, we exercise professional judgment and maintain professional skepticism throughout the audit. We also</td></tr><tr><td colspan="1">Identify and assess the risks of material misstatement of the Financial Statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.</td></tr><tr><td colspan="1">Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control.</td></tr><tr><td colspan="1">Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by Management.</td></tr><tr><td colspan="1">Conclude on the appropriateness of Management’s use of the going concern basis of accounting in preparing the Financial Statements and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the Financial Statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Company to cease to continue as a going concern.</td></tr><tr><td colspan="1">Evaluate the overall presentation, structure and contents of the Financial Statements, including the disclosures, and whether the Financial Statements represent the underlying transactions and events in a manner that gives a true and fair view.</td></tr><tr><td colspan="1">We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Statement on Management’s Review</td></tr><tr><td colspan="1">Management is responsible for Management’s Review.</td></tr><tr><td colspan="1">Our opinion on the Financial Statements does not cover Management’s Review, and we do not express any form of assurance conclusion thereon.</td></tr><tr><td colspan="1">In connection with our audit of the Financial Statements, our responsibility is to read Management’s Review and, in doing so, consider whether Management’s Review is materially inconsistent with the Financial Statements or our knowledge obtained during the audit, or otherwise appears to be materially misstated.</td></tr><tr><td colspan="1">Moreover, it is our responsibility to consider whether Management’s Review provides the information required under the Danish Financial Statements Act.</td></tr><tr><td colspan="1">Based on the work we have performed, we conclude that Management’s Review is in accordance with the Financial Statements and has been prepared in accordance with the requirements of the Danish Financial Statement Act. We did not identify any material misstatement of Management’s Review.</td></tr></table> Elsinore 2025-06-11 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Accounting Policies</td></tr></table> Regnskabsklasse B <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Basis of accounting</td></tr><tr><td colspan="1">The Annual Report of CMC development ApS for 2024 has been prepared in accordance with the provisions of the Danish Financial Statements Act applying to enterprises of reporting class B. Management has chosen to follow certain rules from reporting class C.</td></tr><tr><td colspan="1">The accounting policies applied by the company are consistent with those of last year.</td></tr><tr><td colspan="1">Reporting currency</td></tr><tr><td colspan="1">The financial statements are presented in Danish kroner.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Recognition and measurement</td></tr><tr><td colspan="1">Revenues are recognized in the income statement as earned, which includes recognition of value adjustments of financial assets and liabilities. Furthermore, all expenses incurred, including depreciation, amortization and impairment losses, are recognized in the income statement.</td></tr><tr><td colspan="1">Assets are recognized in the balance sheet when it is probable that future economic benefits attributable to the asset will flow to the Company, and the value of the asset can be measured reliably.</td></tr><tr><td colspan="1">Liabilities are recognized in the balance sheet when it is probable that future economic benefits will flow out of the Company, and the value of the liability can be measured reliably.</td></tr><tr><td colspan="1">Assets and liabilities are initially measured at cost. Subsequently, assets and liabilities are measured as described for each item below.</td></tr><tr><td colspan="1">Certain financial assets and liabilities are measured at amortized cost, which involves the recognition of a constant effective interest rate over the maturity period. Amortized cost is calculated as original cost less any deductions and with addition/deduction of the cumulative amortization of any difference between cost and the nominal amount. In this way, capital losses and gains are allocated over the maturity period.</td></tr><tr><td colspan="1">Recognition and measurement take into account predictable losses and risks occurring before the presentation of the Annual Report, which confirm or invalidate affairs and conditions existing at the balance sheet date.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Translation policies</td></tr><tr><td colspan="1">Transactions in foreign currencies are translated at the exchanges rates at the dates of transaction. Exchange differences arising due to differences between the transaction date rates and the rates at the dates of payment, are recognized in financial income and expenses in the income statement. If foreign exchange positions are considered hedging of future cash flows, the value adjustments are recognized directly in equity.</td></tr><tr><td colspan="1">Receivables, payables and other monetary items in foreign currencies that have not been settled at the balance sheet date are translated at the exchange rates at the balance sheet date. The difference between the exchange rate at the balance sheet date and the rate at the time of origin of the receivable or debt is recognized in financial income and expenses in the income statement.</td></tr><tr><td colspan="1">Fixed assets purchased in foreign currencies are measured at the rate of exchange at the date of transaction.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Income Statement</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Gross profit</td></tr><tr><td colspan="1">With reference to section 32 of the Danish financial statements act, the items “Revenue”, “Direct expenses”, “Operating expenses” and “Other operating income” are consolidated into one item designated “Gross profit”.</td></tr><tr><td colspan="1">Net sales consist, among other things, of fees for loans delivered. Income from the rendering of services is recognised as revenue as the services are rendered, implying that revenue corresponds to the market value of the services rendered in the year (percentage-of-completion method). Revenue is measured at fair value of the agreed consideration exclusive of VAT and taxes charged on behalf of third parties. All discounts and rebates granted are recognised in revenue.</td></tr><tr><td colspan="1">Direct expenses include costs in the form of subscriptions directly linked to the business area.</td></tr><tr><td colspan="1">Operating expenses include the year’s expenses relating to the entity’s core activities, including expenses relating to sale, advertising, administration, premises, bad debts, etc.</td></tr><tr><td colspan="1">Other operating income</td></tr><tr><td colspan="1">Other operating income include financial statement items of a secondary nature in relation to the primary activity of the enterprise, including profit from sale of fixed assets, salary refunds and salaries classified as development expenditure.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Employee expenses</td></tr><tr><td colspan="1">Staff costs include wages and salaries, including compensated absence and pensions, as well as other social security contributions, etc. made to the entity’s employees.</td></tr><tr><td colspan="1">Research and development costs</td></tr><tr><td colspan="1">Research and development costs comprise costs, salaries, and wages and depreciation directly or indirectly attributable to the company’s research and development activities. Research costs are recognised in the income statement in the year incurred. Clearly defined and identifiable development projects are recognised as intangible assets provided that they are proven to be technically practicable, that sufficient resources and a potential market or development opportunity exist, and insofar as the intention is to produce, market or utilise the project. Furthermore, there must be a proven correlation between the costs incurred and future earnings. However, lack of official approvals, customer approvals, and other uncertainties will often imply that the requirements for recognition as assets are not met and that development costs are charged to the income statement as incurred.</td></tr><tr><td colspan="1">Other operating expenses</td></tr><tr><td colspan="1">Other operating expenses include financial statement items of a secondary nature in relation to the primary activity of the enterprise, including loss from sale of fixed assets, non-recurring legal proceedings and other contingencies.</td></tr></table><br><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td /><td>Employee expenses</td></tr><tr><td /><td /><td>Wages/saleries</td><td /><td /><td /><td /><td>2.548.239</td><td /><td>2.742.939</td></tr><tr><td /><td /><td>Pensions</td><td /><td /><td /><td /><td>73.959</td><td /><td>101.649</td></tr><tr><td /><td /><td>Other social security costs</td><td /><td /><td /><td /><td>18.413</td><td /><td>26.235</td></tr><tr><td /><td /><td>Employee expense total</td><td /><td /><td /><td /><td>2.640.611</td><td /><td>2.870.823</td></tr><tr><td /><td /><td>Average number of employees</td><td /><td /><td /><td /><td>4</td><td /><td>4</td></tr><tr><td /><td /><td>Financial expenses</td></tr><tr><td /><td /><td>Interest expenses, group entities</td><td /><td /><td /><td /><td>263.205</td><td /><td>209.882</td></tr><tr><td /><td /><td>Other financial expenses</td><td /><td /><td /><td /><td>502.475</td><td /><td>1.074</td></tr><tr><td /><td /><td /><td /><td /><td /><td /><td>765.680</td><td /><td>210.956</td></tr><tr><td /><td /><td>Tax expense on ordinary activities</td></tr><tr><td /><td /><td>Tax on the taxable income of the year</td><td /><td /><td /><td /><td>-394.438</td><td /><td>-97.548</td></tr><tr><td /><td /><td /><td /><td /><td /><td /><td>-394.438</td><td /><td>-97.548</td></tr><tr><td /><td /><td>Disclosure of liabilities under off-balance sheet leases</td></tr><tr><td /><td /><td colspan="8">The company has taken on a lease obligation concerning the lease of premises which can be terminated with three months' notice equivalent to DKK 70,750.</td></tr><tr><td /><td /><td>Contingent liabilities</td></tr><tr><td /><td /><td colspan="8">The company is jointly taxed with the parent company CMC Finans ApS as a management company and with other Danish affiliated companies. The company is jointly and severally liable with other jointly taxed companies in the Group for the payment of withholding tax and corporation tax.</td></tr><tr><td /><td /><td>Information about the assumptions for continued operations</td></tr><tr><td /><td /><td colspan="8">The company's equity is lost. The company's opportunities to continue operations depend on financial support from the parent company CMC Finans ApS. As a result, CMC Finans ApS has declared that it will resign with receivables of DKK 27,541,602 and has stated that they will provide financial support until the company's share capital amounts to DKK 50,000.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Financial income and expenses</td></tr><tr><td colspan="1">Financial income and expenses are recognised in the income statement with the amounts relating to the financial year. Financial income and expenses comprise interest income and expenses, realised and unrealised exchange gains and losses concerning debt and transactions in foreign currencies as well as extra payments and repayment under the on-account taxation scheme.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Corporation tax</td></tr><tr><td colspan="1">Tax for the year includes current tax on the year´s expected taxable income and the year´s deferred tax adjustments. The portion of the tax for the year that relates to the profit/loss for the year is recognised in the income statement, whereas the portion that relates to transactions taken to equity is recognised in equity.</td></tr><tr><td colspan="1">The entity is jointly taxed with its parent company. CMC Finans ApS acts as a management company. The tax effect of the joint taxation with the parent company is distributed to both profit-making and loss-making companies in relation to taxable income (full allocation method).</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Balance Sheet</td></tr><tr><td colspan="1">Intangible assets</td></tr><tr><td colspan="1">Completed development projects and development projects in progress are measured at cost price including accumulated depreciation. Completed development projects are amortized on a straight-line basis over the estimated economic useful life estimated at 8 years. The expected scrap value of completed development projects is 0%.</td></tr><tr><td colspan="1">The cost of development projects includes costs, including salaries that can be directly and indirectly attributed to the development projects.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Investments</td></tr><tr><td colspan="1">Rent deposits and investments are measured at cost.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Receivables</td></tr><tr><td colspan="1">Receivables are measured at amortized cost, which usually corresponds to the nominal value. Provisions are made for bad debts because of objective evidence that a receivable or a group of receivables are impaired. Write-downs are made to the lower of the net realizable value and the carrying amount.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Deferred income assets</td></tr><tr><td colspan="1">Deferred income assets recognized as assets include costs incurred relating to the subsequent financial year.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Cash and cash equivalents</td></tr><tr><td colspan="1">Cash and cash equivalents include bank deposits.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Corporation tax and deferred tax</td></tr><tr><td colspan="1">The company is jointly taxed with its parent company CMC Finans ApS. Current tax liabilities and current tax receivable are calculated tax on the taxable income for the year adjusted for tax on previous years’ taxable income as well as for taxes paid on account. Corporate income tax is recognized in the balance sheet under "Corporate income tax" or "Corporate income tax receivable".</td></tr><tr><td colspan="1">Deferred tax is measured under the balance sheet liability method in respect of all temporary differences between the carrying amount and the tax base of assets and liabilities. In cases concerning shares, where the computation of the tax base may be made according to alternative tax rules, deferred tax is measured based on the intended use of the asset or settlement of the liability, respectively.</td></tr><tr><td colspan="1">Deferred tax assets, including the tax base of tax loss carry-forwards, are measured at the value at which the asset is expected to be either realized, by elimination in tax on future earnings or by set-off against deferred tax liabilities within the same legal tax entity and jurisdiction. Any deferred net tax assets are measured at net realizable value.</td></tr><tr><td colspan="1">Deferred tax is measured based on the tax rules and tax rates that will be effective under the legislation at the balance sheet date when the deferred tax is expected to be crystallized as current tax.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Debt</td></tr><tr><td colspan="1">Other liabilities are measured at net realisable value.</td></tr></table> -81604 2640611 1026011 1661098 0 -5409324 765680 -6175004 -394438 -5780566 -4484910 -5780566 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="14%" colspan="1" align="center" valign="middle" ><b>CMC development ApS</b></td><td width="21%" colspan="1" align="center" valign="middle" ><b></b></td><td width="1%" colspan="1" align="center" valign="middle" ><b></b></td><td width="13%" colspan="1" align="center" valign="middle" ><b></b></td><td width="1%" colspan="1" align="center" valign="middle" ><b></b></td><td width="13%" colspan="1" align="center" valign="middle" ><b></b></td><td width="1%" colspan="1" align="center" valign="middle" ><b></b></td><td width="13%" colspan="1" align="center" valign="middle" ><b></b></td><td width="1%" colspan="1" align="center" valign="middle" ><b></b></td><td width="22%" colspan="1" align="center" valign="middle" ><b></b></td></tr><tr><td colspan="10"></td></tr><tr><td width="14%" colspan="1" align="center" valign="middle" ><b>Equity statement</b></td><td width="21%" colspan="1" align="center" valign="middle" ><b></b></td><td width="1%" colspan="1" align="center" valign="middle" ><b></b></td><td width="13%" colspan="1" align="center" valign="middle" ><b></b></td><td width="1%" colspan="1" align="center" valign="middle" ><b></b></td><td width="13%" colspan="1" align="center" valign="middle" ><b></b></td><td width="1%" colspan="1" align="center" valign="middle" ><b></b></td><td width="13%" colspan="1" align="center" valign="middle" ><b></b></td><td width="1%" colspan="1" align="center" valign="middle" ><b></b></td><td width="22%" colspan="1" align="center" valign="middle" ><b></b></td></tr><tr><td colspan="10"></td></tr><tr><td width="100%" colspan="10" align="left" valign="middle" >All amounts in DKK</td></tr><tr><td width="14%" ></td><td width="21%" ></td><td width="1%" ></td><td width="13%" ></td><td width="1%" ></td><td width="13%" colspan="1" align="center" valign="middle" ><b>Reserve for</b></td><td width="1%" colspan="1" align="center" valign="middle" ><b></b></td><td width="13%" colspan="1" align="center" valign="middle" ><b></b></td><td width="1%" colspan="1" align="center" valign="middle" ><b></b></td><td width="22%" colspan="1" align="center" valign="middle" ><b></b></td></tr><tr><td width="14%" ></td><td width="21%" ></td><td width="1%" ></td><td width="13%" colspan="1" align="center" valign="middle" ><b>Share</b></td><td width="1%" colspan="1" align="center" valign="middle" ><b></b></td><td width="13%" colspan="1" align="center" valign="middle" ><b>development</b></td><td width="1%" colspan="1" align="center" valign="middle" ><b></b></td><td width="13%" colspan="1" align="center" valign="middle" ><b>Retained</b></td><td width="1%" colspan="1" align="center" valign="middle" ><b></b></td><td width="22%" colspan="1" align="center" valign="middle" ><b>Equity</b></td></tr><tr><td width="14%" ></td><td width="21%" ></td><td width="1%" ></td><td width="13%" colspan="1" align="center" valign="middle" ><b>capital</b></td><td width="1%" colspan="1" align="center" valign="middle" ><b></b></td><td width="13%" colspan="1" align="center" valign="middle" ><b>expenditure</b></td><td width="1%" colspan="1" align="center" valign="middle" ><b></b></td><td width="13%" colspan="1" align="center" valign="middle" ><b>earnings</b></td><td width="1%" colspan="1" align="center" valign="middle" ><b></b></td><td width="22%" colspan="1" align="center" valign="middle" ><b>Total</b></td></tr><tr><td colspan="10"></td></tr><tr><td width="36%" colspan="3" align="left" valign="middle" >Equity 1 January 2023</td><td width="13%" align="right" valign="middle" >50.000</td><td width="1%" ></td><td width="13%" align="right" valign="middle" >7.390.940</td><td width="1%" ></td><td width="13%" align="right" valign="middle" >-15.725.966</td><td width="1%" ></td><td width="22%" align="right" valign="middle" >-8.285.026</td></tr><tr><td width="36%" colspan="3" align="left" valign="middle" >Profit of the year</td><td width="13%" align="right" valign="middle" >0</td><td width="1%" ></td><td width="13%" align="right" valign="middle" >-1.295.656</td><td width="1%" ></td><td width="13%" align="right" valign="middle" >-8.250.113</td><td width="1%" ></td><td width="22%" align="right" valign="middle" >-9.545.769</td></tr><tr><td colspan="10"></td></tr><tr><td width="36%" colspan="3" align="left" valign="middle" ><b>Equity 31 December 2023</b></td><td width="13%" align="right" valign="middle" ><b>50.000</b></td><td width="1%" ></td><td width="13%" align="right" valign="middle" ><b>6.095.284</b></td><td width="1%" ></td><td width="13%" align="right" valign="middle" ><b>-23.976.079</b></td><td width="1%" ></td><td width="22%" align="right" valign="middle" ><b>-17.830.795</b></td></tr><tr><td colspan="10"></td></tr><tr><td width="36%" colspan="3" align="left" valign="middle" >Equity 1 January 2024</td><td width="13%" align="right" valign="middle" >50.000</td><td width="1%" ></td><td width="13%" align="right" valign="middle" >6.095.284</td><td width="1%" ></td><td width="13%" align="right" valign="middle" >-23.976.079</td><td width="1%" ></td><td width="22%" align="right" valign="middle" >-17.830.795</td></tr><tr><td width="36%" colspan="3" align="left" valign="middle" >Profit of the year</td><td width="13%" align="right" valign="middle" >0</td><td width="1%" ></td><td width="13%" align="right" valign="middle" >-1.295.656</td><td width="1%" ></td><td width="13%" align="right" valign="middle" >-4.484.910</td><td width="1%" ></td><td width="22%" align="right" valign="middle" >-5.780.566</td></tr><tr><td colspan="10"></td></tr><tr><td width="36%" colspan="3" align="left" valign="middle" ><b>Equity 31 December 2024</b></td><td width="13%" align="right" valign="middle" ><b>50.000</b></td><td width="1%" ></td><td width="13%" align="right" valign="middle" ><b>4.799.628</b></td><td width="1%" ></td><td width="13%" align="right" valign="middle" ><b>-28.460.989</b></td><td width="1%" ></td><td width="22%" align="right" valign="middle" ><b>-23.611.361</b></td></tr><tr><td colspan="10"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Management’s review</td></tr><tr><td colspan="1">The Company’s business review and principal activities</td></tr><tr><td colspan="1">The Company’s principal activities have been to manage trade and industry within information technology.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Significant changes in the company’s activities and financial affairs</td></tr><tr><td colspan="1">There have been no significant changes in the activities and financial position during the financial year.</td></tr><tr><td colspan="1">Going Concern and Capital Situation</td></tr><tr><td colspan="1">The company’s equity is lost. As a fintech company undergoing rapid development, it requires substantial capital for continued growth, which is a significant contributing factor to its current financial situation. The company’s ability to continue operations is therefore dependent on financial support from its parent company, CMC Finans ApS.</td></tr><tr><td colspan="1">CMC Finans ApS has confirmed its commitment to support the company and, as part of this support, has waived receivables amounting to DKK 27,541,602. Furthermore, CMC Finans ApS has declared that it will continue to provide financial assistance until the company’s share capital reaches DKK 50,000.</td></tr></table> Årsrapport 33241763 Aaen & Co. Statsautoriserede revisorer p/s Kongevejen 3 3000 Helsingør xWizard version 1.1.1379.0, by EasyX Aps. www.easyx.eu 2023-01-01 2023-12-31 Revisionspåtegning Grundlag for konklusion Konklusion CMC development ApS 4 Casper Hallas Mathias Marstal Hoffmann 1442012 2870823 4325328 1683002 1995220 -9432361 210956 -9643317 -97548 -9545769 -8250113 -9545769 6748618 6748618 73753 73753 6822371 61034 6285 125063 394438 586820 35950 622770 7445141 50000 4799628 -28460989 -23611361 2087365 2087365 354207 28381857 233073 28969137 28969137 7445141 8409716 8409716 73753 73753 8483469 0 297077 78424 97548 473049 253888 726937 9210406 50000 6095284 -23976079 -17830795 1995220 1995220 688455 24105222 252304 25045981 25045981 9210406 Aaen & Co. statsautoriserede revisorer p/s 33241763 Jesper Fenger Smidt State Authorised Public Accountant mne31476