OPENX SOFTWARE LIMITED

1. OPENX SOFTWARE LIMITED 2008-02-29 → present
2. OPENADS LIMITED 2007-06-11 → 2008-02-29
3. CLEARGRADE LIMITED 2007-01-02 → 2007-06-11

Accounting basis

FRS 102

Reporting scope

Consolidated group

Auditor

Ernst & Young LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“Management regularly prepares and updates financial forecasts. The group has prepared long-range forecasts that include cash flow, borrowing, and covenant compliance forecasts for the period to 31 December 2026. These updated forecasts demonstrate that the group's cash on hand, future cash generation, and availability under its current line of credit will be more than sufficient to ensure the group and parent company is a going concern for the period to 31 December 2026, which is for at least the next 12 months. The group's line of credit, is set to mature in January 31, 2027. In addition, the group's current forecasts demonstrate that it will have ample headroom under its covenant requirements to ensure it will not trigger any defaults under its line of credit. Additionally, management prepares various downside sensitivity analyses, as well as a worst-case scenario that would result in a breach of financial covenant compliance, and management and the directors deem those scenarios implausible. Based on this, the directors are satisfied that there are no going concern issues, and they continue to adopt the going concern basis of accounting in preparing the financial statements.”

Group structure

1. OPENX SOFTWARE LIMITED · parent
   1. OpenX Limited 100% · England · Software services
   2. OpenX Technologies, Inc. 100% · CA · Software services
   3. OpenX Japan KK 100% · Tokyo · Software services
   4. OpenX GmbH 100% · Germany · Software services
   5. Rhodes Merger Sub II, Inc. 100% · DE · Software services
   6. OpenX Poland sp. z.o.o. 100% · Poland · Software services
   7. OpenX Pte. Limited 100% · Singapore · Software services
   8. OpenX Australia PTY Limited 100% · NSW · Software services

Significant events

• “On 28 Feb 2025 and 02 May 2025 the Company granted 0.8 million and 0.7 million, respectively, options to purchase ordinary shares with a weighted average exercise price of $0.26 per share. In addition, on 1 March 2025, the Company issued 0.6 million restricted stock units with a weighted-average grant date fair value of $0.26 per share. The vesting of the restricted stock units is contingent upon both a service vesting component and a liquidity event vesting component.”
• “On 1 April 2025, the Company established a wholly-owned subsidiary, OpenX Mexico S.A. de C.V., incorporated in Mexico. The new entity was formed to support the Company's planned expansion into the Latin American market and will initially focus on providing sales and customer support services to regional clients.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

20

last 12 months

Capital events

14

last 24 months

Officers appointed

2

last 12 months

Officers resigned

2

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.