Icon Energy Annual Report 2019

Consolidated Statement of Cash Flows for the year ended 30 June 2019 ICON ENERGY LIMITED AND ITS CONTROLLED ENTITIES FOR THE YEAR ENDED 30 JUNE 2019 NOTES 30 June 2019 30 June 2018 $ $ Inflows Inflows (Outflows) (Outflows) CASH FLOWS FROM OPERATING ACTIVITIES Cash receipts from customers 569,998 949,795 Cash payments to suppliers and employees (3,794,603) (5,213,466) Interest received 228,445 203,027 Net cash used in operating activities 14 (2,996,160) (4,060,644) CASH FLOWS FROM INVESTMENT ACTIVITIES Payments for property, plant & equipment (8,462) (26,075) Payments for deferred exploration and evaluation expenditure (427,328) (434,917) Proceeds from sale of property, plant and equipment 2(b) - 7,129,321 Net cash provided used from investment activities (435,790) 6,668,329 CASH FLOWS FROM FINANCING ACTIVITIES Payment for buy-back of shares - - Net cash used in financing activities - - Net increase in cash and cash equivalents held (3,431,950) 2,607,685 Cash and cash equivalents at beginning of the financial year 12,266,962 9,659,397 Effect of movements in exchange rates on cash held (307) (120) Cash and cash equivalents at the end of the financial year 5 8,834,705 12,266,962 The accompanying notes form part of these financial statements. CONSOLIDATED STATEMENT OF CASH FLOWS 48 44 Icon Energy Annual Report 2019