Dato for ledelsens godkendelse af årsrapporten:2023-05-12
Ledelsespåtegning:Management Statement
Beskrivelse af usikkerhed ved indregning eller måling:Uncertainty related to recognition and measurementThe company has capitalized development costsamounting to DKK 35. 7 million. The capitalization isbased on the management team’s assessment thatfuture earnings can be obtained and that the facility isexpected to significantly increase the EBITDA of thecompany by offering a consistent supply ofmedical cannabis products. The company has capitalized the goodwill amounting toDKK 11. 2 million related to the acquisition of CannGros. The capitalization is based on the management’sassessment that continuous development of the existingbusiness through strategic diversification of the productportfolio from partnerships will increase the cash flowfrom the operations. Recognition and measurement of tax-credit are subject to uncertaintyIt should be noted that the recognition and measurement oftax credits are subject to uncertainty. This uncertainty arisesfrom the interpretation of the tax law regarding the contentand use of the tax-credit system. As a result, the recognitionamount for 2022, 1. 492 T. DKK, and 2021, 2. 919 T. DKK, is sub-ject to some uncertainty. The company faces the possibility that SKAT may take adifferent view of the development costs, leading to furtheruncertainty.
Statement by Management on the annual report
Identifikation af den godkendte årsrapport:Today the Board of Directors and Executive Board havediscussed and approved the Annual Report of DanCannPharma A/S for the financial year 1 January - 31 December 2022.
Management's review
Beskrivelse af virksomhedens væsentligste aktiviteter:Primary activitiesDanCann Pharma makes and distributes prescription(Rx-pharmaceuticals) cannabinoid-based pharmaceuticals(both approved and non-approved) primarily as of todayfocused on pain patients with alternative needs concerningthe treatment of their illness – with future targets for furtherand new patient groups and segments. HistoryDanCann Pharma was established to revolutionize healthcarefor pain patients and relatives to ensure no one gets leftbehind. Due to the limited access to cannabinoid-baseddrugs and pharmaceuticals, people currently search forproducts on the uncontrolled, illegal market. Therefore, DanCann Pharma strives to secure treatmentaccess to quality-assured cannabinoid substances. DanCann Pharma creates and makes solutions for tomor-row’s tough challenges using cannabis- and cannabinoids forpharmaceutical and therapeutic purposes. DanCann Pharmais built from a foundation of care, with a passion for improvinghealth and the quality of life for patients with challenges. Theproducts are an alternative for those who have not achievedthe desired quality of life with conventional medicine. Based on knowledge, insight, and innovation,DanCann Pharma innovates life-changing science. Treatment alternatives are not only limited to medicalcannabis or cannabinoids – but everything that potentiallyhelps the world to become a better place by improvingthe quality of life for patients. DanCann Pharma’s workrevolves around giving new hope to patients and relativesleft behind by the conventional healthcare industry. DanCann Pharma strives to make tomorrow better than yesterday. Driven by a passion for reliefDanCann Pharma’s mission is to improve thewell-being of patients and their relatives. The company wants to revolutionize health care foreveryone and ensure that no one experiencing painor trauma gets left behind. DanCann Pharma is all about challenging the status quo,seeing an issue in the health care system, and nowworking with determination to challenge it. Based on knowledge, insight, and innovation,DanCann Pharma innovates life-changing science,going face-to-face with traditional conventions with anapproach built on cannabinoid therapeutics. Cannabinoidsare active substances that affect brain and human bodyreceptors when consumed. DanCann Pharma wants todemocratize the use of these cannabinoids by discovering,developing, manufacturing and commercializing novelcannabinoid therapeutics in various disease areas. Built from a foundation of careDanCan Pharma’s reason to be lies in what was previouslypoor and limited access to cannabinoid-based drugs andpharmaceuticals. Patients were forced to search for productsin uncontrolled, illegal markets. For such reason, DanCannPharma today works to improve accessibility to treatmentswith quality-assured cannabinoid substances. The company develops and produces solutions fortomorrow’s tough challenges and therefore døs notlimit itself to treatments with medical cannabis orcannabinoids in the future. DanCann Pharma wantsto work with everything that potentially improves thequality of life for patients – and, subsequently, their relatives. OUR VISIONWe want to revolutionize health and qualityof life for patients with challengesOUR MISSIONWe enhance access to medicines inspired bynature for the benefit of patients and relativesOUR CORPORATE VALUESInspired by patients• Improve quality of life• Deliver best-in-class innovation• Supply medicines inspired by natureActing with empathy• Perform as a team• Stay trustworthy and fair• Embrace different opinionsExecuting with passion• Work with resolute determination• Maintain the highest standards of excellence• Grow our business responsiblyA strong platform to support the journeyStrong brands create expectations. As DanCann Pharma works to optimize care and well-beingfor those with little hope, the brand must reflect that. In 2022,DanCann Pharma did a complete makeover to ensure thatthe brand platform is perceived at the same standard as thetechnology, science, and care that is the company’s bedrock. DanCann Pharma thrives on the challenge of makingexcellent treatment available through alternative medicine,enabling a brighter future for everyone. To do so, a stableflow of medication is needed to meet patients’ needswhile creating alternatives to the conventional treatmentsavailable in the healthcare system. The business model is shaped around democratizingcannabinoid therapeutics and a long-term category impact. As such, the brand identity needs to communicate the same. The brand positioning embodies a passion for helpingpatients and their relatives while improving their quality of life. The distinct value position tells a story to the stakeholders. It shows the unique selling points embedded in the DanCannPharma brand while making the company a relevantmedical supplier in the patient base. ” The new brandpositioning embodiesa passion for helpingpatients and theirrelatives while improvingtheir quality of life.
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