46 Icon Energy Annual Report 2023 ICON ENERGY LIMITED AND ITS CONTROLLED ENTITIES FOR THE YEAR ENDED 30 JUNE 2023 NOTES 30 June 2023 30 June 2022 $ $ Inflows Inflows (Outflows) (Outflows) CASH FLOWS FROM OPERATING ACTIVITIES Cash receipts from customers 4,268 21,078 Cash payments to suppliers and employees (1,124,202) (837,512) Interest received 35,409 1,836 Tenement expenditure (415,997) (301,366) Interest expense (1,226) (5,877) Net cash used in operating activities 14 (1,501,747) (1,121,841) CASH FLOWS FROM INVESTMENT ACTIVITIES Payments for property, plant & equipment - (5,091) Net cash used in investment activities - (5,091) CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from issue of share capital 662,184 1,572,141 Capital raising costs (3,639) (98,867) Repayments of lease liabilities 8 (41,315) (82,579) Proceeds from borrowings 4d 520,000 - Net cash from financing activities 1,137,230 1,390,695 Net increase/(decrease) in cash and cash equivalents held (364,517) 263,763 Cash and cash equivalents at beginning of the financial year 1,845,450 1,581,687 Cash and cash equivalents at the end of the financial year 5 1,480,933 1,845,450 The accompanying notes form part of these financial statements. CONSOLIDATED STATEMENT OF CASH FLOWS Consolidated Statement of Cash Flows for the year ended 30 June 2023
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