Commex Technology Ltd. - Quarterly/Annual Result Disclosures and Notes dated 30 Jun 2019

l) The Company follows Indian Accounting Standards ('lnd AS') notified by the Ministry of Coporate Affairs and

accordingly results (inenlding conrparatives for all periods presented) Mire been prepared in accordance with the

ind AS effective on the date ofadoption ofthe resniis by the Board.

2) The above audited financial results were reviewed by the Audit Committee and approved by the Board of

Directors at their meeting held on 9th August, 2019.

3 Disclosure of Segment-wise information is not applicable as Sofiware Development is the Company's only

business segment.

4)ITl1e consolidated financial statements for the yearemMarch 31, 20l8 are prepared in accordance with AS-Zl

and AS—27 notified under setion 133 ofThe Companies Act. 2013.

5) Corresponding figures of the previous quarter-[year have been regronped, reeasted and reclassified to make them

comparable Wherever necessary.

6)

Although as per the Audited Balance Sheet of the Company for the year ending on 31—3—2019 the Share Capital

and General Reserves offlie Company are fully eroded due to past losses and write offofali the obsolete assets

daring the ear-tier years mo Net Current Assets are in the negative, due to short term tiabilities being heavy, the

Company intends to revive its business and continue its market activities as a Software fieveloper. The Company

is in talks with few strategic investors who are keen on making long term investments in the form of Equity. The

talks with the investors are fin'riy at. an advanced stage and the Management is confident that fire proposed

investments are likely to frnctify in tire third or fonrfli quarter of the current Financial Year 2019—20. The

Company also intends to moive various issues with the current investors & lenders and come to an amicable

settlement witir them, paving way for the revival of the Company very soon. Hence, in the opinion of the

Management ofthe Company, the Company can be neared as Going Concern