The following discussion should be read in conjunction with our audited financial statements and notes thereto included herein. We caution readers regarding certain forward looking statements in the following discussion and elsewhere in this report and in any other statement made by, or on our behalf, whether or not in future filings with the Securities and Exchange Commission. Forward-looking statements are statements not based on historical information and which relate to future operations, strategies, financial results or other developments. Forward looking statements are necessarily based upon estimates and assumptions that are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control and many of which, with respect to future business decisions, are subject to change. These uncertainties and contingencies can affect actual results and could cause actual results to differ materially from those expressed in any forward looking statements made by, or our behalf. We disclaim any obligation to update forward-looking statements.

"Ionix", "the Company," "we,"or "our"are to Ionix Technology, Inc.a company incorporated in Nevada with limited liability on March 11, 2011.

And "the Group,"or "our Group," are to the Company, and, where the context requires ,its consolidated subsidiaries, including its variable interest entities and their subsidiaries, from time to time;

"variable interest entities,or"VIE" are to Changchun Fangguan Electronics Technology Co., Ltd. ("Fangguan Electronics"),a company incorporated under the laws of the PRC on June 28,2006, which has been controlled through VIE agreements by the Company since December 27, 2018. Fangguan Electronics is our variable interest entity, the financial results of which are consolidated into our consolidated financial statements as if it is our subsidiary.

Ionix is the entity in which investors are purchasing their interest.

The investors and the potential investors are advised to exercise causation when trading in the shares of Ionix Technology, Inc. because of the following factors:

The Company is not a Chinese operating company but a Nevada holding company with operations conducted by the subsidiaries of the Company and through contractual arrangements with a variable interest entity (VIE) based in China. This structure involves unique risks to investors. Even for the Group the VIE structure is not used to replicate foreign investment in Chinese-based companies where Chinese law prohibits direct foreign investment in the operating companies, investors of the Company may still never directly hold equity interests in the VIE. Chinese regulatory authorities could disallow this structure, which would likely result in a material change in the Company's operations and/or value of the common stock of the Company, including that it could cause the value of such securities to significantly decline or become worthless.

See "Risks associated with the VIE structure" in the footnotes section entitled "NOTE 3 - VARIABLE INTEREST ENTITY of this 10Q for a discussion of certain risk factors that should be considered by the potential investors or the investors of the Company.

Legal And Operational Risks Associated with being Based In China

Risks Related to new laws,or regulations of PRC

The constant developments in the political and economic policies of the PRC government which may materially and adversely affect the Group's business, financial condition and results of operations

All of the Group's operations are conducted in the PRC, and are governed by PRC laws, rules and regulations.

Our PRC subsidiaries are subject to laws, rules and regulations applicable to foreign investment in China.

Uncertainties in the interpretation and enforcement of PRC laws and regulations could limit the legal protections available to the Company and its shareholders.

The PRC legal system is based on written statutes .Its court decisions have limited precedential value. The PRC legal system is evolving rapidly, and the interpretations of many laws, regulations and rules may contain inconsistencies and enforcement of these laws, regulations and rules involves uncertainties.

From time to time, the Group may have to resort to administrative and court proceedings to enforce the legal rights of the Group. However, since PRC judicial and administrative authorities have significant discretion in interpreting and implementing statutory and contractual terms, it may be more difficult to predict the outcome of a judicial or administrative proceeding than in more developed legal systems. Furthermore, the PRC legal system is based, in part, on government policies and internal rules, some of which are not published in a timely manner, or at all, but which may have retroactive effect. As a result, the Group may not always be aware of any potential violation of these policies and rules. Such unpredictability towards the Group's contractual, property (including intellectual property) and procedural rights could adversely affect the Group 's business and impede its ability to continue the operations.





  34








The relevant new laws,or regulations of PRC issued recently are listed as below:

a.The Opinions on Intensifying Crack Down on Illegal Securities Activities issued on July 6, 2021 called for:

• tightening oversight of data security, crossborder data flow and administration of classified information, as well as amendments to relevant regulation to specify responsibilities of overseas listed Chinese companies with respect to data security and information security;

• enhanced oversight of overseas listed companies as well as overseas equity fundraising and listing by Chinese companies; and

• extraterritorial application of China's securities laws

These laws and regulations can be complex and stringent, and are subject to change and uncertain interpretation, which may affect the Group's business.

b. On December 19, 2020, Chinese government promulgated the Foreign Investment Security Review Measures, which took effect on January 18, 2021. Under the Foreign Investment Security Review Measures, investments in military, national defense related areas or in locations in proximity to military facilities, or investments that would result in acquiring the actual control of assets in certain key sectors, such as critical agricultural products, energy and resources, equipment manufacturing, infrastructure, transport, cultural products and services, IT, Internet products and services, financial services and technology sectors, are required to be approved by designated governmental authorities in advance. Although the term "investment through other means" is not clearly defined under the Foreign Investment Security Review Measures, we cannot rule out the possibility that control through contractual arrangement may be regarded as a form of actual control and therefore require approval from the competent governmental authority. If the VIE structure of the Group were to be deemed as a method of foreign investment under any future laws, regulations and rules, and because the VIE business operations in our Group were not to fall under the "negative list" for foreign investment, it would not materially adversely affect the Group's current corporate structure, business, financial condition and results of operations.

c. In April 2021, the PRC government released the second draft of the personal information protection law, or the Draft Personal Information Protection Law for public comment. The Draft Personal Information Protection Law provides for various requirements on personal information protection, including legal bases for data collection and processing, requirements on data localization and cross-border data transfer, and requirements for consent and requirements on processing sensitive personal information.

d. In January 2020, the PRC government published the draft amendments to the PRC Anti-monopoly Law, to propose to increase legal liability for certain violations by introducing higher penalties and criminal liabilities for monopolistic behaviors.

The Group (including the VIE whose business are not subject to foreign investment restrictions ) neither involved any IT, Internet products or services , nor had concerns on the monopolistic behaviors and the unauthorized use, loss or leak of user data.

Hence neither the amended PRC Anti-monopoly Law nor the Data Security Law have any impact on the Group's ability to conduct its business, accept foreign investments, or list on an U.S. or other foreign exchange.

e.In light of recent events indicating greater oversight by the Cyberspace Administration of China over data security, particularly for companies seeking to list on a foreign exchange, based on the fact that the Group neither possesses any personal information of any users nor makes any procurement of network product, this oversight barely have any impacts on its business. The Group has been fully compliant with the regulations and policies that have been issued by the CAC to date.





Issues on foreign exchange

Ionix is a holding company with no material operations of its own. The Group did conduct our operations primarily through our PRC subsidiaries and the VIE in China. As a result, the Company's ability to pay dividends depends upon dividends paid by our PRC subsidiaries. If our existing PRC subsidiaries or the VIE incur debt on their own behalf in the future, the instruments governing their debt may restrict their ability to pay dividends to the Company. In addition, these PRC subsidiaries are permitted to pay dividends to the Company only out of its retained earnings, if any, as determined in accordance with PRC accounting standards and regulations. Under PRC law, all the PRC subsidiaries and the VIE in China are required to set aside at least 10% of their after-tax profits each year, if any, to fund certain statutory reserve funds until such reserve funds reach 50% of their registered capital. In addition, the PRC subsidiaries may allocate a portion of their after-tax profits based on PRC accounting standards to enterprise expansion funds and staff bonus and welfare funds at their discretion, and the VIE may allocate a portion of its after-tax profits based on PRC accounting standards to a surplus fund at their discretion. The statutory reserve funds and the discretionary funds are not distributable as cash dividends. Remittance of dividends by a wholly foreign-owned company out of China is subject to examination by the banks designated by State Administration of Foreign Exchange of the PRC ("SAFE").Neither the PRC subsidiaries nor VIE have paid any dividends.





  35

PRC regulations relating to investments in offshore companies by PRC residents may limit the Company's ability to inject capital in the PRC subsidiaries or limit our PRC subsidiaries' ability to increase their registered capital or distribute profits. These risks may have a material adverse effect on the Group's business, financial condition and results of operations.

The Group primarily generate the cash flow directly through the VIE and subsidiaries. The Group have not relied on VIE agreements to transfer cash flow from the VIE to the whole-owned subsidiaries. The Company funded the strategic acquisitions and investments primarily from cash generated from the Group's operations and through debt and equity financing.

We expect to fund additional investments through cash generated from our operations and through debt and equity financing when opportunities arise in the future.

Restrictions on currency exchange or outbound capital flows may limit the Group's ability to utilize the PRC revenue effectively.

All of the Group's revenue is denominated in Renminbi. The Renminbi is currently convertible under the "current account," which includes dividends, trade and service-related foreign exchange transactions, but requires approval from or registration with appropriate government authorities or designated banks under the "capital account," which includes foreign direct investment and loans, including loans the Group may secure from the PRC subsidiaries or variable interest entities. Currently, the PRC subsidiaries, that are foreign invested enterprises, may purchase foreign currency for settlement of "current account transactions," including payment of dividends to the Company, without the approval of SAFE by complying with certain procedural requirements. However, the relevant PRC governmental authorities may limit or eliminate the Group's ability to purchase foreign currencies in the future for current account transactions.

In light of the various requirements imposed by PRC regulations on loans to and direct investment in PRC entities by investment in PRC entities by offshore holding companies, it is possible that the Company is not able to complete the necessary government registrations or obtain the necessary government approvals on a timely basis, if at all, with respect to future loans by the Company to the PRC subsidiary or with respect to future capital contributions by the Company to the PRC subsidiary. If we fail to complete such registrations or obtain such approvals, the Group's ability to use the proceeds received from the equity offering and notes offering and to capitalize or otherwise fund our PRC operations may be negatively affected, which could materially and adversely affect the Group's liquidity and ability to fund and expand business.

Governmental control of currency conversion may limit the Group's ability to utilize the revenues effectively and affect the value of the company shareholders' investment.

The PRC government imposes controls on the convertibility of the Renminbi into foreign currencies and, in certain cases, the remittance of currency out of China. The Group receive substantially all of our revenues in Renminbi.

Under existing PRC foreign exchange regulations, payments of current account items, including profit distributions, interest payments and trade and service-related foreign exchange transactions, can be made in foreign currencies without prior approval of SAFE by complying with certain procedural requirements. Specifically, under the existing exchange restrictions, without prior approval of SAFE, cash generated from the operations of PRC subsidiaries in China may be used to pay dividends to the company. However, approval from or registration with appropriate government authorities is required where Renminbi is to be converted into foreign currency and remitted out of China to pay capital expenses such as the repayment of loans denominated in foreign currencies. As a result, the Company will need to obtain SAFE approval or registration to use cash generated from the operations of the PRC subsidiaries and VIEs to pay off their respective debt in a currency other than Renminbi owed to entities outside China, or to make other capital expenditure if any.

In light of the flood of capital outflows of China in 2016 due to the weakening RMB, the PRC payments outside China in a currency other than Renminbi, PRC government has imposed more restrictive foreign exchange policies and stepped up scrutiny of major outbound capital movement including overseas direct investment.

More restrictions and substantial vetting process are put in place by SAFE to regulate cross-border transactions falling under the capital account.

The PRC government may at its discretion further restrict access in the future to foreign currencies for current account transactions. If the foreign exchange control system prevents the Group from obtaining sufficient foreign currencies to satisfy Group's foreign currency demands, the Company may not be able to pay dividends in foreign currencies to the shareholders of the Company.





Within the Group structure



  36

During the term of the equity pledge agreements, the Company has the right to receive all of the dividends and profits distributed from the VIE on the pledged equity interests. The pledge will remain binding until the VIE and the Shareholders of the VIE discharge all their obligations under the contractual arrangements. The Company believes that the each of the contractual arrangements (including the equity pledge agreement ) constitutes valid and legally binding obligations of each party to such contractual arrangements under PRC laws.

However, the interpretation and implementation of the laws and regulations in the PRC and their application on the legality, binding effect and enforceability of contracts are subject to the discretion of competent PRC authorities, and therefore there is no assurance that relevant PRC authorities will take the same position as the Company herein in respect of the legality, binding effect and enforceability of each of the contractual arrangements. Meanwhile, since the PRC legal system continues to evolve, the interpretations of many laws, regulations and rules are not always uniform and enforcement of these laws, regulations and rules involve uncertainties, which may limit legal protections available to the Company to enforce the contractual arrangements should the VIE or the shareholders of the VIE fail to perform their obligations under those arrangements.

The Company currently intend to retain most, if not all, of the Group's available funds and any future earnings to fund the development and growth of the Group's business. As a result, the Company does not expect to pay any cash dividends in the foreseeable future.

Under the exclusive technology support services agreement between the Company and the VIE, the Company does have the exclusive right through the relevant subsidiaries to provide the VIE the consulting and services related to, among other things, research and development, system operation, advertising, internal training and technical support. These VIE shall pay the Company an annual service fee, which are subject to the adjustment by the Company at its sole discretion. This agreement will remain effective with no express expiration unless as earlier terminated in writing by the Company (or through the relevant subsidiary if applicable) and the VIE.

The Group primarily generate the cash flow directly through our VIE and subsidiaries, and does not rely on the VIE agreements to transfer cash flow from the VIE to the whole-owned subsidiaries or the Company.The Group funded our strategic acquisitions and investments primarily from cash generated from the operations and through debt and equity financing.

And the Group does expect to fund additional investments through cash generated from the operations and through debt and equity financing when opportunities arise in the future. And none of any transfers, dividends, or distributions have been made to date.

Results of Operation For the Six Months Ended December 31, 2021 and 2020

The calendar year of 2021 and 2020 were challenging and disruptive for the world, with the COVID-19 pandemic adding to the headwind of an already challenging global economy. Almost no industry was unaffected by the pandemic. The unprecedentedly adverse global operating environment had a major impact on the Group's business.

Nevertheless, the Group survived and thrived against all odds. With the gradual stabilization of the domestic photoelectric display industry, the Group especially the VIE would anticipate a steady increase in the sales.

Based on the Group's well-established reputation in the market, management of the Company believes that the demand for the Group products would increase during the economic rebounding and the overall financial and business positions of the Company would remain sound, and the Company is well positioned to take advantage of any upturn in the market.

Considering that such effects of COVID-19 is temporary and will not have major impact on the long-term performance , the Group believes that the increase in turnover of the VIE as caused by the gradual recovery of the economy of PRC , would maintain in the future. As such, the Group remains cautiously optimistic about its sustainable development.

Given the dynamic nature of the COVID-19 outbreak, it is not practicable to provide a reasonable estimate of its impacts on the Group's financial position, cash flows and operating results at the present.





Revenues

During the three months and six months ended December 31, 2021, as COVID-19 pandemic in PRC eased, the Group fully resumed business, accompanied with the gradual recovery of revenue.

During the three months ended December 31, 2021 and 2020, total revenues were $3,943,301 and $2,982,883 respectively. The total revenues increased by $960,418 or 32% from the three months ended December 31, 2020 to the three months ended December 31, 2021.





  37

During the six months ended December 31, 2021 and 2020, total revenues were $8,493,688 and $5,941,348, respectively. The total revenues increased by $2,552,340 or 43% from the six months ended December 31, 2020 to the six months ended December 31, 2021.

Among the significant increase of $960,418 and $2,552,340 in total revenues for the three and six months ended December 31, 2021, the increase of $1,039,614 and $2,708,757 came from the increase in revenue of Fangguan Electronics which was acquired on December 27, 2018,and partially offset by the decrease of $306 and $1,046 in service contract and smart energy segments.

In addition, the increases in total revenues for the three and six months ended December 31, 2021 were partially lattributed to the increase in revenues of $4,468 and $4,468 sourced from lithium battery - related business which was the new business segment established by the Company in 2021.

The increase in total revenues during the three and six months ended December 31, 2021 was attributed to the fact that the impact of COVID-19 pandemic has alleviated, resulting in the rebound of the economy and the

increased operating revenue of the Group.





Cost of Revenue

Cost of revenues included the cost of raw materials, labor, depreciation, overhead and finished products purchased.

During the three months ended December 31, 2021 and 2020, the total cost of revenues was $3,553,167 and $2,588,055 respectively. The total cost of revenues increased by $965,112 or 37% from the three months ended December 31, 2020 to the three months ended December 31, 2021.

During the six months ended December 31, 2021 and 2020, the total cost of revenues was $7,739,803 and $5,269,444 , respectively. The total cost of revenues increased by $2,470,359 or 47% from the six months ended December 31, 2020 to the six months ended December 31, 2021.

Among the significant increase of $965,112 and $2,470,359 in total cost of revenues for the three and six months ended December 31, 2021, $965,112 and $2,557,674 increases were due to the increase of the cost of revenues from Fangguan Electronics which was acquired on December 27, 2018.

The increase in cost of revenues can be directly attributed to the increase of revenues.





Gross Profit

During the three months ended December 31, 2021 and 2020, the gross profit was $390,134 and $394,828 , respectively.

The gross profit decreased by 1% from the three months ended December 31, 2020 to the three months ended December 31, 2021.

Our gross profit margin was at 10% during the three months ended December 31, 2021 as compared to 13% for the three months ended December 31, 2020. Such decrease is mainly due to the severe competition that led to slightly lower gross margin during the three months ended December 31, 2021

During the six months ended December 31, 2021 and 2020, the gross profit was $753,885 and $671,904 , respectively.

The gross profit increased by 12% from the six months ended December 31, 2020 to the six months ended December 31, 2021.

Our gross profit margin was at 9% during the six months ended December 31, 2021 as compared to 11% for the six months ended December 31, 2020. Such decrease is mainly due to the severe competition that led to slightly lower gross margin during the six months ended December 31, 2021.

Selling, General and Administrative Expenses

Our selling, general and administrative expenses are mainly comprised of payroll expenses, transportation, office expense, professional fees, freight and shipping costs, rent, and other miscellaneous expenses.

During the three months ended December 31, 2021 and 2020, selling, general and administrative expenses were $216,900 and $349,398 , respectively.The decrease in selling, general and administrative expenses can be attributed to the stricter cost control during the three months ended December 31, 2021.





  38

During the six months ended December 31, 2021, and 2020, selling, general and administrative expenses were $796,446 and $657,901 , respectively.The increase in selling, general and administrative expenses can be attributed to the fact that the Group ,especially Fangguan Electronics ,devoted greater efforts on market development to secure more business opportunities in the severe competition during the six months ended December 31, 2021.

Research and Development Expenses

Our research and development expenses are mainly comprised of payroll expenses of research staff, costs of materials used for research and other miscellaneous expenses.

During the three months ended December 31, 2021 and 2020, research and development expenses were $99,845 and $131,055, respectively. The decrease in research and development expenses can be attributed to the stricter cost control during the three months ended December 31, 2021.

During the six months ended December 31, 2021 and 2020, research and development expenses were $397,619 and $277,240 respectively. All research and development expenses were incurred by Fangguan Electronics (a variable interest entity of the Company since December 27, 2018). The increase in research and development expenses can be attributed to the increase of materials expenditures used for research during the six months ended December 31, 2021.





Other Incomes (Expenses)

Other expenses consisted of interest expense, net of interest income. Other incomes consisted primarily of subsidy income and gain on extinguishment of debt, net of loss on extinguishment of debt.

During the three months ended December 31, 2021 and 2020, other incomes (expenses) were $(136,441) and $(279,738) respectively. The other expense decreased by $143,297 or 51% from the three months ended December 31, 2020 to the three months ended December 31, 2021.

During the six months ended December 31, 2021 and 2020, other incomes (expenses) were $ (130,068) and $(650,691) respectively. The other expense decreased by $520,623 or 80% from the six months ended December 31, 2020 to the six months ended December 31, 2021.

The subsidy income was government subsidies received by Fangguan Electronics and Baileqi Electronic during the three and six months ended December 31, 2021 and 2020.

The change in fair value of derivative liability can be attributed to the fact that there were convertible notes during the three and six months ended December 31, 2020 while there is no any convertible note during the three and six months ended December 31, 2021.

The loss on extinguishment of debt of $15,000 during the three and six months ended December 31, 2021 can be primarily attributed to the loss from settlement of a self-amortization promissory note , during the three and six months ended December 31, 2021.

The gain on extinguishment of debt of $351,819 during the three months ended December 31, 2020 can be primarily attributed to the gain of $443,881 from settlement of three convertible notes (including warrants and all accrued and unpaid interests), offset by loss of $92,062 from the conversion of convertible notes to 7,143,978 common shares in the principal amount of $97,701 for the three months ended December 31, 2020.

The gain on extinguishment of debt of $202,588 during the six months ended December 31, 2020 can be primarily attributed to the gain of $459,227 from settlement of four convertible notes (including warrants and all accrued and unpaid interests), offset by loss of $256,639 from the conversion of convertible notes to 9,470,630 common shares in the principal amount of $273,200 for the six months ended December 31, 2020.





Net Income (Loss)

During the three months ended December 31, 2021 and 2020, the net income (loss) of the Group was $(97,745) and $(356,188), respectively. The total net loss decreased by $258,373 or 73% from the three months ended December 31, 2021 to the three months ended December 31, 2021.The decrease in net loss is primarily attributed to the fact that the impact of COVID-19 pandemic has alleviated, resulting in the rebound of the economy and the increased operating revenue of the Group.

During the six months ended December 31, 2021 and 2020, our net income (loss) was $(637,944) and $(888,424) , respectively. The total net loss was decreased by $250,480 or 28% from the six months ended December 31, 2020 to the six months ended December 31, 2021.The decrease in net loss is primarily attributed to the fact that the impact of COVID-19 pandemic has alleviated, resulting in the rebound of the economy and the increased operating revenue of the Group.





  39

Liquidity and Capital Resources

Cash Flow from Operating Activities

During the six months ended December 31, 2021, net cash used in operating activities was $1,236,614 compared to the cash used in operating activities of $473,941 for the six months ended December 31, 2020. The change was mainly due to a decrease in accounts payable and an increase in accounts receivable,partially offset by a decrease in inventory during the six months ended December 31, 2021 as compared to the six months ended December 31, 2020.

Cash Flow from Investing Activities

During the six months ended December 31, 2021, net cash used in investing activities was $96,074 compared to net cash used in investing activities of $192,962 the six months ended December 31, 2020. The change was primarily due to the fact that there were fewer purchase of equipments during the six months ended December 31, 2021 as compared to the six months ended December 31, 2020.

Cash Flow from Financing Activities

During the six months ended December 31, 2021, cash provided by financing activities was $1,861,069 compared to net cash provided by financing activities of $407,705 during the six months ended December 31, 2020. The change was primarily due to the further advances from the major shareholders of the Company, the proceeds from issuance of promissory notes ,the proceeds from capital injection in regard with the Registered Capital Increase

of Fangguan Electronics , and the proceeds from bank loans during the six months ended December 31, 2021.

As of December 31, 2021, we have a working capital of $4,077,760.

Our total current liabilities as of December 31, 2021 were $9,169 ,976 and mainly consisted of $1,568,455 for short-term bank loans, $3,278,316 in accounts payable, the amount due to related parties of $3,027,297, advance from customers of $283,893 and the self-amortized promissory notes of $780,166. The Company's major shareholder is committed to providing for our minimum working capital needs for the next 12 months, and we do not expect the previous related party loan be payable for the next 12 months. However, we do not have a formal agreement that states any of these facts. The remaining balance of our current liabilities relates to audit and consulting fees and such payments are due on demand and we expect to settle such amounts on a timely basis based upon shareholder loans to be granted to us in the next 12 months.





Going Concern

The accompanying consolidated financial statements have been prepared assuming that the Group will continue as a going concern. The Group had an accumulated deficit of $782,353 as of December 31, 2021. The Group incurred loss from operation and did not generate sufficient cash flow from its operating activities for the six months ended December 31, 2021. These factors, among others, raise substantial doubt about the Group's ability to continue as a going concern. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.

The Group plans to rely on the proceeds from loans from both unrelated and related parties to provide the resources necessary to fund the development of the business plan and operations. The Group is also pursuing other revenue streams which could include strategic acquisitions or possible joint ventures of other business segments. However, no assurance can be given that the Group will be successful in raising additional capital.





Future Financings

The Group considers taking on any long-term or short-term debt from financial institutions in the immediate future. Besides for the bank funding, the Group are dependent upon the directors and the major shareholders of the Company to provide continued funding and capital resources. If continued funding and capital resources are unavailable at reasonable terms, the Group may not be able to implement our plan of operations. The financial statements do not include any adjustments related to the recoverability of assets and classification of liabilities that might be necessary should the Group be unable to continue in operation.

Off-Balance Sheet Arrangements





  40

The Group does not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on the Group's financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to investors.





Critical Accounting Policies

The critical accounting policies of the Group are disclosed Note 2 to the consolidated financial statements.

Recently Issued Accounting Pronouncements

There were no recent accounting pronouncements that have or will have a material effect on the Group's financial position or results of operations.





Contractual Obligations

We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.

© Edgar Online, source Glimpses