For personal use only
ASX Announcement (ASX:LAW) | 29 July 2022 |
Correction to Appendix 4C
LawFinance Limited (ASX:LAW) (Company) advises that the Appendix 4C for the quarter ended 30 June 2022, released to the ASX on 27 July 2022, contained a typographical error at section 3.
Under item 3.10 (net cash from / (used in) financing activities), the figure, although correct, was inadvertently included within parentheses.
A corrected version of the Appendix 4C is attached to this notice.
Authorised by:
Andrew Palfreyman
Company Secretary
335, 49-51 Queens Road, Five Dock NSW 2046
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 | 30 June 2022 | |
Consolidated statement of cash flows | Current quarter | Year to date |
$USD'000 | (6 months) | |
$USD'000 |
1. Cash flows from operating activities
1.1 Receipts from customers
(a) | PFG book - Medical Liens Settled | 2,326 | 4,026 | |
(b) | PFG book - Lines of Credit | |||
- Interest / Returns Received | - | - | ||
- Principal Repaid | 3 | 3 | ||
(c) | EFI book - Medical Liens Settled | 1,423 | 2,341 | |
1.2 | New origination payments | |||
(a) Medical Lien Claims acquired | (938) | (2,242) | ||
(b) Lines of Credit Funding | (5,353) | (5,954) | ||
1.3 | Payments for | |||
(a) | research and development | - | - | |
(b) | product manufacturing and operating | - | - | |
costs | ||||
(c) | advertising and marketing | (9) | (27) | |
(d) | leased assets | - | - | |
(e) | staff costs | (1,321) | (2,376) | |
(f) administration and corporate costs | (608) | (1,221) | ||
1.4 | Dividends received (see note 3) | - | - | |
1.5 | Income taxes paid | - | - | |
1.6 | Government grants and tax incentives | - | - | |
1.7 | PFG Working Capital Facility | |||
(a) Interest Payments | (510) | (1,006) | ||
(b) Net Debt Movement | 3,454 | 2,648 | ||
1.8 | EFI Working Capital Facility | |||
(a) Interest Payments | (750) | (1,502) | ||
(b) Principal Payments | (303) | (303) |
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 | (6 months) | |||
$USD'000 | ||||
1.9 | Net cash from / (used in) operating | (2,586) | (5,613) | |
activities | ||||
2. | Cash flows from investing activities | |||
2.1 | Payments to acquire: | |||
(a) | entities | - | - | |
(b) | businesses | - | - | |
(c) | property, plant and equipment | (4) | (5) | |
(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 | - | - | |
Funding (net of co-funders contribution) | ||||
2.5 | Other - Cash balance transfers associated | - | - | |
with the sale of the Disbursement Funding | ||||
and Litigation Case Funding businesses | ||||
2.6 | Net cash from / (used in) investing | (4) | (5) | |
activities |
3. Cash flows from financing activities
3.1 Proceeds from issues of equity securities
(excluding convertible debt securities) | 4,502 | 4,502 | |
3.2 | Proceeds from issue of convertible debt | - | - |
securities | |||
3.3 | Proceeds from exercise of options | - | - |
3.4 | Transaction costs related to issues of | (522) | (522) |
equity securities or convertible debt | |||
securities | |||
3.5 | Proceeds from borrowings - corporate | 71 | 71 |
3.6 | Repayment of borrowings - corporate | (119) | (302) |
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 | (6 months) | ||
$USD'000 | |||
3.7 | Transaction costs related to loans and | (3) | (7) |
borrowings (including interest) | |||
3.8 | Dividends paid | - | - |
3.9 | Other - Repayment of Lease Liabilities | (9) | (18) |
3.10 | Net cash from / (used in) financing | 3,920 | 3,724 |
activities |
4. Net increase / (decrease) in cash and cash equivalents for the period
4.1 Cash and cash equivalents at beginning of
period | 2,631 | 5,509 | |
4.2 | Net cash from / (used in) operating | (2,586) | (5,613) |
activities (item 1.9 above) | |||
4.3 | Net cash from / (used in) investing activities | (4) | (5) |
(item 2.6 above) | |||
4.4 | Net cash from / (used in) financing activities | 3,920 | 3,724 |
(item 3.10 above) | |||
4.5 | Effect of movement in exchange rates on | (90) | 256 |
cash held | |||
4.6 | Cash and cash equivalents at end of | 3,870 | 3,870 |
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 | 1,937 | 955 |
5.2 | Call deposits | - | - |
5.3 | Bank overdrafts | - | - |
5.4 Other:
(a) | Term Deposits for Bank Guarantees | 687 | 751 | |
(b) | Third Party LockBox Accounts | 1,246 | 925 | |
5.5 | Cash and cash equivalents at end of | 3,870 | 2,631 | |
quarter (should equal item 4.6 above) |
ASX Listing Rules Appendix 4C (01/12/19) | Page 3 |
+ See chapter 19 of the ASX Listing Rules for defined terms. |
only
Appendix 4C
Quarterly cash flow report for entities subject to Listing Rule 4.7B
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 | (322) |
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
use
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 financing facilities
Total facility | Amount drawn at |
amount at quarter | quarter end |
end | $USD'000 |
$USD'000 | |
72,477 | 59,057 |
- | - |
- | - |
72,477 | 59,057 |
For personal
7.5 | Unused financing facilities available at quarter end | 13,420 |
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) | (2,586) |
8.2 | Cash and cash equivalents at quarter end (Item 4.6) | 3,870 |
8.3 | Unused finance facilities available at quarter end (Item 7.5) | 13,420 |
8.4 | Total available funding (Item 8.2 + Item 8.3) | 17,290 |
8.5 | Estimated quarters of funding available (Item 8.4 divided by | 6.68 |
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 $1.933m is excluded from Item 8.2, then the estimated quarters of funding available reduces to 5.94.
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?
ASX Listing Rules Appendix 4C (01/12/19) | Page 4 |
+ See chapter 19 of the ASX Listing Rules for defined terms. |
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Lawfinance Ltd. published this content on 29 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 July 2022 04:53:04 UTC.