WATER RESOURCES GROUP LTD Water Resources Group Limited Appendix 4E - Preliminary Final
Report
For the 12 months ended 30 June 2016
Principal Activities and Review of OperationsResults for Announcement to Market | $ Change | % Change | 12 months to 30 June 2016 $ | 12 months to 30 June 2015 $ |
Revenue from ordinary activities | (877,975) | 100% | Nil | 877,975 |
Profit/(loss) after tax from ordinary activities attributable to members | (599,350) | (169%) | (246,067) | 353,283 |
Profit/(loss) attributable to members | (599,350) | (169%) | (246,067) | 353,283 |
Dividend Information | Amount per share | Franked Amount per share |
Dividend - current reporting period | Nil | Nil |
Dividend - previous reporting period | Nil | Nil |
Net Tangible Asset Backing per Ordinary Share | Cents |
Net tangible asset backing per ordinary share - current reporting period | -0.02 |
Net tangible asset backing per ordinary share - previous reporting period | -0.02 |
The group has reported a net loss for the 12 months to the year ending 30 June 2016 of $677,110. The loss results from normal operating expenses of the company.
Loss of control over entitiesDuring the year the company formally wound-up its fully owned subsidiaries. The subsidiaries were dormant. The windup process began in 2014 and was reported in the 31 December 2014 Annual Report.
AttachmentsThe following documents are attached:
Explanation of Principal Activities and Review of Operations
The Preliminary Final Report of Water Resources Group Limited for the year ended 30 June 2016
This Preliminary Final Report is based on the Annual Financial Report which is in the process of being audited.
Steven Morris Chairman
Dated at Melbourne this 31st day of August 2016.
Principal activities and review of operations Water Resources GroupLimited
Appendix 4E - Preliminary Final
Report
For the 12 months ended 30 June 2016
The principal activities of the Company during the 12 month period were to focus on the commercial development opportunities in the water treatment sector provided by the Company's rights to the AiR2O3 generator.
The Company is also working with Somnio Global on the possibility of commercialisation of other technology opportunities being developed and evaluated by Somnio.
P a g e | 2
Statement of Comprehensive Income For the 12 months ended 30 June 2016 | |||
30 June 2016 | 30 June 2015 | ||
Note | $ | $ | |
Revenue | |||
Other income | 2 | - | 877,975 |
Total revenue | - | 877,975 | |
Consulting expenses | (170,425) | (385,900) | |
Loss from reclassification of reserves | 3 | (431,043) | - |
Other expenses | (75,365) | (155,060) | |
Finance cost | (277) | (9,732) | |
Profit/(loss) before income tax | (677,110)) | 353,283 | |
Income tax expense | - | - | |
Net profit/(loss) for the year | (677,110) | 353,283 | |
Other Comprehensive Income Reclassification adjustment relating to foreign operations disposed of during the year | 431,043 | - | |
Total Comprehensive Income/(Loss) for the year | (246,067) | 353,283 | |
Basic earnings/(loss) per share (cents) | (0.016) | 0.008 | |
Diluted earnings/(loss) per share (cents) | (0.016) | 0.008 |
The Statement of Comprehensive Income above should be read in conjunction with the accompanying notes.
STATEMENT OF FINANCIAL POSITION As at 30 June 2016 | |||
Note | 30 June 2016 $ | 30 June 2015 $ | |
Assets | |||
Current Assets | |||
Cash and cash equivalents | 19,535 | 21,996 | |
Trade and other receivables | 3,119 | 5,009 | |
Prepayments | 6,256 | 7,863 | |
Total Current Assets | 28,910 | 34,868 | |
Non-Current Assets | |||
Plant and equipment | - | - | |
Total Non-Current Assets | - | - | |
Total Assets | 28,910 | 34,868 | |
Liabilities | |||
Current Liabilities | |||
Trade and other payables | 415,564 | 401,605 | |
Financial liabilities | 4 | 509,234 | 283,084 |
Total Current Liabilities | 924,798 | 684,689 | |
Total Liabilities | 924,798 | 684,689 | |
Net Assets/(Liabilities) | (895,888) | (649,821) | |
Equity/ (S hare holde r s ' De ficit) | |||
Contributed equity | 5 | 73,270,517 | 73,270,517 |
Reserves | - | 1,172,510 | |
Accumulated losses | (74,166,405) | (75,092,848) | |
Total Equity/ (Shareholders' Deficit) | (895,888) | (649,821) |
The Statement of Financial Position above should be read in conjunction with the accompanying notes.
Water Resources Group Limited published this content on 31 August 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 06 September 2016 00:28:03 UTC.
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