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's activity report 2022

Onoffapp OÜ is 100% owned by the French company Onoff Telecom SAS. The parent company operates through the invested capital, which was used to establish Onoffapp OÜ in 2014 with the aim of developing a mobile application called OnoffApp.

In January 2021, Onoffapp OÜ sold all its intangible assets (source code, database, patents, trademarks, etc.) for 5.6 million euros to the parent company Onoff Telecom SAS. As a result, all contracts concluded with Apple and Google and all telecommunications revenue were transferred to the parent company Onoff Telecom SAS.

As a result, Onoffapp OÜ started providing IT development services to the parent company from January 2021.

The OnoffApp application environment is cloud-based, so the company has no other hardware than computers purchased for developers.

Onoffapp OÜ does not engage in any research and development projects for its own benefit, but the company may do so if the parent company orders it.

Onoffapp OÜ is responsible for the development of all new software functions required and specified by the parent company and also for the maintenance of existing applications and the production environment. As a result, the company's operations are very stable. The main customer of Onoffapp OÜ is the parent company and since the invoices are in euros, there is no currency risk and the credit risk depends on the parent company's solvency. Onoffapp OÜ invoices the parent company on a cost-based method by adding an agreed markup to the company's costs. Therefore, the company's operations are profitable regardless of the general economic environment.

Significant events during the reporting year: (cid:127) Technical development and stabilization of the OnoffApp application. The Onoff application is the best-developed communication application on the market.

(cid:127) Continuing the development of the OnoffApp application's B2B web platform, which allows companies to manage their numbers.

(cid:127) Continue developing the B2B product OnoffApp Business.

(cid:127) Integration of the OnoffApp Business product into the Microsoft Office 365 environment (specifically the Microsoft Teams environment).

(cid:127) Hiring new employees for the development team in all departments (Java, front-end, iOS, Android, Q&A).

Key economic indicators 2022 2021

Sales revenue 7 097 872 6 163 166

Profit (loss) for the reporting year 872 939 2 628 144

Equity 5 350 657 4 477 718

Total assets 5 859 797 4 973 876

Average number of employees 67 56

General level of solvency (current assets/ short-term 11.38 9.84 obligations)

Esther Perez

Board Member