Gemcap Aps

The Company's principal activities GemCap ApS is a North-European, privately owned investment company, formed in 2018. The company's purpose is to directly or indirectly conduct development, production, trade, service, financing and investment activities with special emphasis on precious stones. Development in the activities and the financial situation of the Company Development in activities and the financial situation The Company's Income Statement of the financial year 1 July 2022 - 30 June 2023 shows a result of EUR -5.998.238 and the Balance Sheet at 30 June 2023 a balance sheet total of EUR 114.280.000 and an equity of EUR 113.636.524. With effect from 15 May 2023, the company has sold all inventories of precious stones to an external third party and received listed certificates as payment. The value of the certificates is linked to the precious stones, and is expected to increase in price as the gemstones are cut, polished and certified as individual stones. This process is expected to start early 2024. Investments GemCap has aquired minority share of an international company that deals with Artificial Intelligence within the financial sector. The Company's investments in the life sciences industry have been negatively affected by the Corona situation and continues to be so. This applies to the Company's interests within genetically modified treatments as well as the Company's participation in a herpes medicine project. In addition, external factors have been impacting investments and co-operation relations. Consequently, in 2020/2021 the management has decided to write down the Company's investments the life sciences industry with 50%. The management has assessed that previous write-down of 50% of the investments in life science industries has not been sufficient and has therefore written down the investments by a further 50%, so that the investments now is booked at Euro 0 in the accounts. Subsidaries All subsidaries have been reorganized and sold off. Audit: The conditions for not conducting an audit of the Financial Statements have been met.

Development in the activities and the financial situation of the Company Development in activities and the financial situation The Company's Income Statement of the financial year 1 July 2022 - 30 June 2023 shows a result of EUR -5.998.238 and the Balance Sheet at 30 June 2023 a balance sheet total of EUR 114.280.000 and an equity of EUR 113.636.524. With effect from 15 May 2023, the company has sold all inventories of precious stones to an external third party and received listed certificates as payment. The value of the certificates is linked to the precious stones, and is expected to increase in price as the gemstones are cut, polished and certified as individual stones. This process is expected to start early 2024. Investments GemCap has aquired minority share of an international company that deals with Artificial Intelligence within the financial sector. The Company's investments in the life sciences industry have been negatively affected by the Corona situation and continues to be so. This applies to the Company's interests within genetically modified treatments as well as the Company's participation in a herpes medicine project. In addition, external factors have been impacting investments and co-operation relations. Consequently, in 2020/2021 the management has decided to write down the Company's investments the life sciences industry with 50%. The management has assessed that previous write-down of 50% of the investments in life science industries has not been sufficient and has therefore written down the investments by a further 50%, so that the investments now is booked at Euro 0 in the accounts. Subsidaries All subsidaries have been reorganized and sold off. , Development in activities and the financial situation The Company's Income Statement of the financial year 1 July 2022 - 30 June 2023 shows a result of EUR -5.998.238 and the Balance Sheet at 30 June 2023 a balance sheet total of EUR 114.280.000 and an equity of EUR 113.636.524. With effect from 15 May 2023, the company has sold all inventories of precious stones to an external third party and received listed certificates as payment. The value of the certificates is linked to the precious stones, and is expected to increase in price as the gemstones are cut, polished and certified as individual stones. This process is expected to start early 2024. Investments GemCap has aquired minority share of an international company that deals with Artificial Intelligence within the financial sector. The Company's investments in the life sciences industry have been negatively affected by the Corona situation and continues to be so. This applies to the Company's interests within genetically modified treatments as well as the Company's participation in a herpes medicine project. In addition, external factors have been impacting investments and co-operation relations. Consequently, in 2020/2021 the management has decided to write down the Company's investments the life sciences industry with 50%. The management has assessed that previous write-down of 50% of the investments in life science industries has not been sufficient and has therefore written down the investments by a further 50%, so that the investments now is booked at Euro 0 in the accounts. Subsidaries All subsidaries have been reorganized and sold off.