For personal use only
28 January 2022
Appendix 4C - December 2021 Quarter
Attached is the 4C for the December 2021 Quarter. We would like to draw your attention to the cash flow from operations set out in the 4C and specifically part 1.8 relating to the transfer of funds available for redraw by NHF under the terms of the PFG funding facility, to an account under PFG's control.
In previous periods the balance of the redraw account was recorded, in the 4C reports, as NHF cash held and included in the balances of trapped cash as detailed in note 8.6. During this reporting period the Redraw Account of $2.2m was transferred to a PFG Controlled account, in accordance with the terms of the facility. In this current reporting period the balance of the PFG Redraw Account has been offset against the PFG debt balance in note 7.
Authorised by:
The Board of Directors
For enquiries:
Phil Smith
Chief Financial Officer
LawFinance Limited
Tel: + 61 2 9696 0220
Email: phil.smith@lawfinance.com.au
T +61 (0) 2 9696 0220 | E enquiries@lawfinance.com.au | W lawfinance.com.au
For personal use only
Rule 4.7B
Appendix 4C
Quarterly cash flow report for entities subject to Listing Rule 4.7B
Name of entity | ||
LawFinance Limited | ||
ABN | Quarter ended ("current quarter") | |
72 088 749 008 | 31 December 2021 | |
Consolidated statement of cash flows | Current quarter | Year to date |
$USD'000 | (12 months) | |
$USD'000 |
1. Cash flows from operating activities
1.1 | Receipts from customers | 2,139 | 14,866 | |
1.2 | Payments for | |||
(a) | research and development | - | - | |
(b) | product manufacturing and operating | - | - | |
costs | ||||
(c) | advertising and marketing | (122) | (200) | |
(d) | leased assets | - | - | |
(e) | staff costs | (1,094) | (4,991) | |
(f) administration and corporate costs | (683) | (5,470) | ||
1.3 | Dividends received (see note 3) | - | - | |
1.4 | Interest received | - | 3 | |
1.5 | Interest and other costs of finance paid | - | (5) | |
1.6 | Income taxes paid | - | - | |
1.7 | Government grants and tax incentives | - | - | |
1.8 | Payments for disbursement reports and | (998) | (3,577) | |
medical liens | ||||
1.8 | Movements in Working Capital Facilities | (1,553) | (10,515) | |
(including interest) | ||||
1.8 | Transfer of Redraw Account balance to PFG | (2,206) | (2,206) | |
controlled account - Working Capital | ||||
Facilities | ||||
1.9 | Net cash from / (used in) operating | (4,517) | (12,095) | |
activities |
ASX Listing Rules Appendix 4C (01/12/19) | Page 1 |
+ See chapter 19 of the ASX Listing Rules for defined terms. |
For personal use only
Appendix 4C
Quarterly cash flow report for entities subject to Listing Rule 4.7B
Consolidated statement of cash flows | Current quarter | Year to date | ||
$USD'000 | (12 months) | |||
$USD'000 | ||||
2. | Cash flows from investing activities | |||
2.1 | Payments to acquire: | |||
(a) | entities | - | - | |
(b) | businesses | - | - | |
(c) | property, plant and equipment | - | (154) | |
(d) | investments | - | - | |
(e) | intellectual property | - | - | |
(f) | other non-current assets | - | - | |
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 - Payments for Litigation Case | - | (200) | |
Funding (net of co-funders contribution) | ||||
2.5 | Other - Cash balance transfers associated | - | (194) | |
with the sale of the Disbursement Funding | ||||
and Litigation Case Funding businesses | ||||
2.6 | Net cash from / (used in) investing | (0) | (548) | |
activities |
3. Cash flows from financing activities
3.1 Proceeds from issues of equity securities
(excluding convertible debt securities) | - | 13,321 | |
3.2 | Proceeds from issue of convertible debt | - | - |
securities | |||
3.3 | Proceeds from exercise of options | - | - |
3.4 | Transaction costs related to issues of | - | (584) |
equity securities or convertible debt | |||
securities | |||
3.5 | Proceeds from borrowings - corporate | - | 2,943 |
3.6 | Repayment of borrowings - corporate | (195) | (565) |
3.7 | Transaction costs related to loans and | (4) | (1,217) |
borrowings (including interest) | |||
3.8 | Dividends paid | - | - |
ASX Listing Rules Appendix 4C (01/12/19) | Page 2 |
+ See chapter 19 of the ASX Listing Rules for defined terms. |
For personal use only
Appendix 4C
Quarterly cash flow report for entities subject to Listing Rule 4.7B
Consolidated statement of cash flows | Current quarter | Year to date | |
$USD'000 | (12 months) | ||
$USD'000 | |||
3.9 | Other - Repayment of Lease Liabilities | (8) | (263) |
3.10 | Net cash from / (used in) financing | (207) | 13,635 |
activities |
4. Net increase / (decrease) in cash and cash equivalents for the period
4.1 Cash and cash equivalents at beginning of
period | 10,174 | 5,351 | |
4.2 | Net cash from / (used in) operating | (4,517) | (12,095) |
activities (item 1.9 above) | |||
4.3 | Net cash from / (used in) investing activities | (0) | (548) |
(item 2.6 above) | |||
4.4 | Net cash from / (used in) financing activities | (207) | 13,635 |
(item 3.10 above) | |||
4.5 | Effect of movement in exchange rates on | 58 | (835) |
cash held | |||
4.6 | Cash and cash equivalents at end of | 5,508 | 5,508 |
period |
5. | Reconciliation of cash and cash | Current quarter | Previous quarter |
equivalents | $USD'000 | $USD'000 | |
at the end of the quarter (as shown in the | |||
consolidated statement of cash flows) to the | |||
related items in the accounts | |||
5.1 | Bank balances | 4,783 | 9,347 |
5.2 | Call deposits | - | - |
5.3 | Bank overdrafts | - | - |
5.4 | Other - term deposits for Bank Guarantees | 725 | 827 |
5.5 | Cash and cash equivalents at end of | 5,508 | 10,174 |
quarter (should equal item 4.6 above) |
6. | Payments to related parties of the entity and their | Current quarter |
associates | $USD'000 | |
6.1 | Aggregate amount of payments to related parties and their | (141) |
associates included in item 1 | ||
6.2 | Aggregate amount of payments to related parties and their | - |
associates included in item 2 |
Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments
ASX Listing Rules Appendix 4C (01/12/19) | Page 3 |
+ See chapter 19 of the ASX Listing Rules for defined terms. |
Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B
only
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.
- Loan facilities
- Credit standby arrangements
- Other (please specify)
Total facility | Amount drawn at |
amount at quarter | quarter end |
end | $USD'000 |
$USD'000 | |
70,981 | 57,121 |
- | - |
- | - |
For personal use
7.4 | Total financing facilities | 70,981 | 57,121 |
7.5 | Unused financing facilities available at quarter end | 13,860 |
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.
Refer to Attachment 'A' at the end of this Appendix 4C for details of the above financing facilities, and the 'unused financing facilities available at quarter end'.
8. | Estimated cash available for future operating activities | $USD'000 |
8.1 | Net cash from / (used in) operating activities (Item 1.9) | (4,517) |
8.2 | Cash and cash equivalents at quarter end (Item 4.6) | 5,508 |
8.3 | Unused finance facilities available at quarter end (Item 7.5) | 13,860 |
8.4 | Total available funding (Item 8.2 + Item 8.3) | 19,368 |
8.5 | Estimated quarters of funding available (Item 8.4 divided by | 4.29 |
Item 8.1) |
8.6 If Item 8.5 is less than 2 quarters, please provide answers to the following questions:
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: If unavailable/trapped cash of $0.782m is excluded from Item 8.2, then the estimated quarters of funding available reduces to 4.11.
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: n/a
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: n/a
ASX Listing Rules Appendix 4C (01/12/19) | Page 4 |
+ See chapter 19 of the ASX Listing Rules for defined terms. |
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Lawfinance Ltd. published this content on 28 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 January 2022 03:25:08 UTC.