ADSLOT LIMITED Cash receipts from customers for the December quarter were $3.345 million, an increase of 28% or
$0.741 million versus the September quarter, and a fifth consecutive quarter of growth in cash receipts.
As previously communicated via our Trading Updates and our Quarterly cashflow reports, cash receipts growth trails Trading Technology revenue growth, with larger agency clients billed only when the campaign activity they purchase commences, and monthly in arrears. Cash receipts are therefore geared to the timing of payments from larger agency customers.
The 28% increase in cash receipts reflects recent growth in Trading Technologies revenues.
Net operating cash flows showed an outflow of $0.75 million for the December quarter compared to an inflow of $0.21 million for the September quarter (the September quarter included receipt of the annual R&D Tax Incentive payment for the FY2015 year of $2.18 million). Excluding the R&D Tax Incentive receipt, net cash outflow for the September quarter would have been $1.98 million, making the December quarter net cash outflow of $0.75 million an improvement of $1.23 million, or 62%.
The reduction in underlying cash outflows from $1.98 million to $0.75 million is primarily due to increased Trading Technology revenues but also reflects lower than expected Publisher payments in the December quarter.
The seasonal softening of media buying in the March quarter combined with an expected increase in Publisher payments means the Company expects net cash outflows will moderately increase in the next quarter (March 2016) but then continue to reduce in future quarters, as Trading Technology revenues continue to grow and operating costs remain flat.
Cash at the end of the December 2015 quarter was $3.84 million.
Appendix 4C Quarterly report for entities admitted on the basis of commitmentsName of entity
ADSLOT LTD
ABN Quarter ended ("current quarter")
70 001 287 510
31 December 2015
Cash flows related to operating activities
Net operating cash flows | Current quarter $A'000 | Year to date (6 months) $A'000 |
3,345 (1,776) (22) (912) (1) (540) (276) (625) - 17 0 0 40 | 5,949 (3,661) (27) (1,856) (2) (1,361) (503) (1,365) - 49 0 9 2,225 | |
(750) | (543) |
Current quarter $A'000 | Year to date (6 months) $A'000 | ||
1.8 | Net operating cash flows (carried forward) | (750) | (543) |
Cash flows related to investing activities | - | - | |
1.9 | Payment for acquisition of: | ||
(a) businesses | |||
(b) equity investments | - | - | |
(c) intellectual property | - | - | |
(d) physical non-current assets | - | - | |
(e) other non-current assets | (27) | (52) | |
1.10 | Proceeds from disposal of: | ||
(a) businesses | - | - | |
(b) equity investments | - | - | |
(c) intellectual property | - | - | |
(d) physical non-current assets | - | - | |
(e) other non-current assets | - | - | |
1.11 | Loans to other entities | - | - |
1.12 | Loans repaid by other entities | - | - |
1.13 | Other (provide details if material) | - | - |
Net investing cash flows | (27) | (52) | |
1.14 | Total operating and investing cash flows | (777) | (595) |
Cash flows related to financing activities | - | - | |
1.15 | Proceeds from issues of shares, options, etc. | ||
1.16 | Proceeds from sale of forfeited shares | - | - |
1.17 | Proceeds from borrowings | - | - |
1.18 | Repayment of borrowings | - | - |
1.19 | Dividends paid | - | - |
1.20 | Other - Costs relating to issues of shares | - | - |
Net financing cash flows | - | - | |
Net increase (decrease) in cash held | (777) | (595) | |
1.21 | Cash at beginning of quarter/year to date | 4,650 | 4,441 |
1.22 | Exchange rate adjustments - Note 2 | (38) | (11) |
1.23 | Cash at end of quarter | 3,835 | 3,835 |
Current quarter $A'000 | ||
1.24 | Aggregate amount of payments to the parties included in item 1.2 | 72 |
1.25 | Aggregate amount of loans to the parties included in item 1.11 | - |
1.26 | Explanation necessary for an understanding of the transactions Directors Fees of $72k. | |
Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows
N/A
Details of outlays made by other entities to establish or increase their share in businesses in which the reporting entity has an interest
N/A
Add notes as necessary for an understanding of the position. (See AASB 1026 paragraph 12.2).
Amount available $A'000 | Amount used $A'000 | ||
3.1 | Loan facilities | - | - |
3.2 | Credit standby arrangements | - | - |
Adslot Ltd. issued this content on 2016-01-21 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2016-01-21 00:19:42 UTC
Original Document: https://www.adslot.com/wp-content/uploads/2016/01/1517517.pdf
