06 Oct 2021

Xref - First quarter Appendix 4C - September 2021

Xref Limited - September Quarter 202 1 Appendix 4C Page 1 Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B Name of entity Xref Limited ABN Quarter ended (“current quarter”) 34 122 404 666 30 September 2021 Consolidated statement of cash flows Current quarter $A’000 Year to date ( 3 months) $A’000 1. Cash flows from operating activities 5,770 5,770 1.1 Receipts from customers 1.2 Payments for - - (a) research and development (b) product manufacturing and operating costs ( 739 ) ( 739 ) (c) advertising and marketing ( 142 ) ( 142 ) (d) leased assets ( 66 ) ( 66 ) (e) staff costs ( 2,099 ) ( 2,099 ) (f) administration and corporate costs ( 343 ) ( 343 ) 1.3 Dividends received (see note 3) - - 1.4 Interest received 1 1 1.5 Interest and other costs of finance paid - - 1.6 Income taxes paid - - 1.7 Government grants and tax incentives 20 20 1.8 Other (provide details if material) - Upfront annual subscriptions paid - GST for the period - Net foreign exchange ( 113 ) ( 540 ) 6 ( 113 ) ( 540 ) 6 1.9 Net cash from / (used in) operating activities 1,755 1,755 Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B Xref Limited - September Quarter 202 1 Appendix 4C Page 2 2. Cash flows from investing activities - - 2.1 Payments to acquire: (a) entities (b) businesses - - (c) property, plant and equipment ( 8 ) ( 8 ) (d) investments - - (e) intellectual property - - (f) other non - current assets - Website ( 441 ) ( 441 ) 2.2 Proceeds from disposal of: - - (a) entities (b) businesses - - (c) property, plant and equipment - - (d) investments - - (e) intellectual property - - (f) other non - current assets - - 2.3 Cash flows from loans to other entities - - 2.4 Dividends received (see note 3) - - 2.5 Other (provide details if material) 3 3 2.6 Net cash from / (used in) investing activities ( 446 ) ( 446 ) 3. Cash flows from financing activities - - 3.1 Proceeds from issues of equity securities (excluding convertible debt securities) 3.2 Proceeds from issue of convertible debt securities - - 3.3 Proceeds from exercise of options - - 3.4 Transaction costs related to issues of equity securities or convertible debt securities - - 3.5 Proceeds from borrowings - - 3.6 Repayment of borrowings - - 3.7 Transaction costs related to loans and borrowings - - 3.8 Dividends paid - - 3.9 Other ( I nter est paid PURE Asse t Mgt Loan ) (125) (125) 3.10 Net cash from / (used in) financing activities ( 125 ) (125) Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B Xref Limited - September Quarter 202 1 Appendix 4C Page 3 4. Net increase / (decrease) in cash and cash equivalents for the period 8,185 8,185 4.1 Cash and cash equivalents at beginning of period 4.2 Net cash from / (used in) operating activities (item 1.9 above) 1,755 1,755 4.3 Net cash from / (used in) investing activities (item 2.6 above) ( 446) ( 446 ) 4.4 Net cash from / (used in) financing activities (item 3.10 above) (125) (125) 4.5 Effect of movement in exchange rates on cash held - - 4.6 Cash and cash equivalents at end of period 9,369 9,369 5. Reconciliation of cash and cash equivalents at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts Current quarter $A’000 Previous quarter $A’000 5.1 Bank balances 9,335 8,151 5.2 Call deposits 34 34 5.3 Bank overdrafts - - 5.4 Other (provide details) - - 5.5 Cash and cash equivalents at end of quarter (should equal item 4.6 above) 9,369 8,185 6. Payments to related parties of the entity and their associates Current quarter $A'000 6.1 Aggregate amount of payments to related parties and their associates included in item 1 189 6.2 Aggregate amount of payments to related parties and their associates included in item 2 - Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B Xref Limited - September Quarter 202 1 Appendix 4C Page 4 7. Financing facilities Note: the term “facility’ includes all forms of financing arrangements available to the entity. Add notes as necessary for an understanding of the sources of finance available to the entity. Total facility amount at quarter end $A’000 Amount drawn at quarter end $A’000 7.1 Loan facilities 5,000 5,000 7.2 Credit standby arrangements - - 7.3 Other (please specify) - - 7.4 Total financing facilities 5,000 5,000 7.5 Unused financing facilities available at quarter end - 7.6 Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or unsecured. If any additional financing facilities have been entered into or are proposed to be entered into after quarter end, include a note providing details of those facilities as well. $5m fully drawn facility with PURE Asset Management. 4 - year term. 8.5% interest rate from 19 August 2021 (previously 9.95%), interest to be paid every 3 months. No principal amortisation, repayable at maturity. Secured against assets of Xref Limited & subsidiaries. Refer ASX release 31 July 2020 & 2021 Annual Report subsequent events 8. Estimated cash available for future operating activities $A’000 8.1 Net cash from / (used in) operating activities (Item 1.9) 1,755 8.2 Cash and cash equivalents at quarter end (Item 4.6) 9,369 8.3 Unused finance facilities available at quarter end (Item 7.5) - 8.4 Total available funding (Item 8.2 + Item 8.3) 9,369 8.5 Estimated quarters of funding available (Item 8.4 divided by Item 8.1) N/A Note: if the entity has reported positive net operating cash flows in item 1.9, answer item 8.5 as “N/A”. Otherwise, a figure for the estimated quarters of funding available must be included in item 8.5. 8.6 If Item 8.5 is less than 2 quarters, please provide answers to the following questions: 8.6.1 Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not? Answer: Not Applicable 8.6.2 Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful? Answer: Not Applicable Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B Xref Limited - September Quarter 202 1 Appendix 4C Page 5 8.6.3 Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis? Answer: Not Applicable Note: where item 8.5 is less than 2 quarters, all of questions 8.6.1, 8.6.2 and 8.6.3 above must be answered. Compliance statement 1 This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A. 2 This statement gives a true a nd fair view of the matters disclosed. Date: 5 October 2021 Authorised by: The Board of Directors of Xref Limited
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