Review of financial reporting – Hofseth Biocare ASA

03 Feb 2025 16:35 CET

Finanstilsynet has reviewed certain matters related to the financial reporting
of Hofseth Biocare ASA ("the company"). The review comprised disclosures in the
annual report for 2023 regarding future lease payments, interest expense, trade
payables, classification of an investment in Hofseth Biocare Immunology Inc. and
recognition of foreign exchange contracts. Finanstilsynet takes note the
company's assessments and expects identified deficiencies and inconsistencies to
be rectified in future financial reporting. Furthermore, the review comprised
the company's accounting policies for revenue recognition in previous accounting
periods. Finanstilsynet takes note of the company's explanation of events and
assessment in this matter.
The review is hereby considered closed.
Finanstilsynet´s letter is available in Norwegian only.

If you have any questions, please contact:
Lars Jacob Braarud, Head of section, +47 22 93 97 53/+47 91 34 52 73 (mobile).

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637635_Kontroll av finansiell rapportering - Hofseth Biocare ASA.pdf