Ann: Half Year Financial Report 31 December 2015, page-7

First 7 Last

Share
Profile

Follow
False9

1,257 Posts.

26

01/04/16

12:21

Post #: 17400196
Share

Originally posted by wilcox ↑

The $2.3m rebate is certainly fantastic news for APG shareholders – but I don’t think all Hotcopper readers appreciate how close APG was to going over the edge.

Dom wrote “Wow we get $2.3mil in the kitty now for the R&D refund plus the $600k from capital easing.. That's circa $3mil..... This definately buys us another 12-18 months..”

But nobody should harbour the misconception that APG has $3m in the bank.

The $600k from the capital raising is already all gone.
The H1 Statement of Cash Flows shows the $602,640 for the capital raising that was recieved in November, as all spent by end of December.
APG shows it only had $51,554 in cash remaining at 31 Dec 15. On the edge !!

So with so little cash remaining, how was APG paying the bills. They probably were not paying all their bills on time.
The H1 Statement of Financial Position shows that the Current Liabilites have increased by $0.5m to $2,298,660. Current Liabilities are Debts & Obligations that are due within 1 year.
So now APG has recieved the R&D Rebate of $2,337,175 these unpaid debts will need to be paid. Also don’t forget to add in the bills that APG will have run up over the last quarter.

If you want an more accurate idea of APG’s cash - it might be best to look at the cash held as at the end of Q3 ie 31 March 16.
This Quarterly Report should come out at the end of this month – maybe.
Wilcox

Expand

Thank God your not at the helm Wilcox! You would have closed the doors years ago stating we had no money and claiming insolvency!

leave the finances to those who know understand and stop scare mongering!!

APG Price at posting: 0.3¢ Sentiment: None Disclosure: Held
7 Upvote

0 Great analysis

Reply

Top Stories

Breaking news: New opportunities for investors & companies - HotCopper opens to capital raising!

WC8

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

ACW

This biotech stock raised $11M in a risk-off environment. Its Alzheimer's drug could change the game

MIN

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

There are more pages in this discussion • 5 more messages in this thread...

First 7 Last

Add APG (ASX) to my watchlist

Ann: Half Year Financial Report 31 December 2015, page-7

Top Stories

Breaking news: New opportunities for investors & companies - HotCopper opens to capital raising!

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

This biotech stock raised $11M in a risk-off environment. Its Alzheimer's drug could change the game

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

Featured News