ABN 61 058 454 569
ICON ENERGY LIMITED
2015 Annual Report
53
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JUNE 2015
ICON ENERGY LIMITED AND ITS CONTROLLED ENTITIES
FOR THE YEAR ENDED 30 JUNE 2015
NOTES
30 June 2015 30 June 2014
$
$
Inflows
Inflows
(Outflows)
(Outflows)
CASH FLOWS FROM OPERATING ACTIVITIES
Cash receipts from customers
7,957
29,881
Cash payments to suppliers and employees
(7,324,749)
(5,540,996)
Interest received
762,850
755,471
Finance costs
-
(26,337)
Income from research and development tax incentive
4,897,215
-
Net Cash used in operating activities
(1,656,727)
(4,781,981)
CASH FLOWS FROM INVESTMENT ACTIVITIES
Redemption\(Investment) in financial assets
7,000,000
(637,662)
Payments for property, plant & equipment
(111,785)
(17,673)
Payments for deferred exploration and evaluation expenditure
(18,543,012)
(23,040,100)
Prepayments for deferred exploration and evaluation expenditure
1,197,920 (1,197,920)
Research and development tax incentive
13,971,362
Proceeds from sale of property, plant and equipment
46,800
38,500
Proceeds from joint venture contributions
-
423,594
Net Cash from/(used in) investment activities
3,561,286 (24,431,260)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issue of share capital
-
18,874,823
Capital raising costs
-
(467,196)
Payment for buy-back of shares
(761,499)
-
Repayment of borrowings
-
(3,429,500)
Net cash from/(used in) financing activities
(761,499)
14,978,127
Net increase/(decrease) in cash and cash equivalents held
1,143,059 (14,235,113)
7,605,461 21,840,575
4
8,748,520 7,605,461
The accompanying notes form part of these financial statements.
CONSOLIDATED STATEMENT OF CASH FLOWS
Cash and cash equivalents at beginning of the financial year
Cash and cash equivalents at the end of the
financial year
53
FOR THE YEAR ENDED 30 JUNE 2015
NOTES
30 June 2015 30 June 2014
$
$
Inflows
Inflows
(Outflows)
(Outflows)
CASH FLOWS FROM OPERATING ACTIVITIES
Cash receipts from customers
7,957
29,881
Cash payments to suppliers and employees
(7,324,749)
(5,540,996)
Interest received
762,850
755,471
Finance costs
-
(26,337)
Income from research and development tax incentive
4,897,215
-
Net Cash used in operating activities
(1,656,727)
(4,781,981)
CASH FLOWS FROM INVESTMENT ACTIVITIES
Redempti n\(Inv stment) in financial assets
7,000,000
(637,662)
Payments for property, plant & equipment
(111 85
(17 673)
Payments for deferred exploration and evaluation expenditure
(18,543,012)
(23,040,100)
Prepayments for deferred exploration and evaluation expenditure
1,197,920 (1,197,920)
Research and development tax incentive
13,971,362
Proceeds from sale of property, plant and equipment
46 8
38,500
roce d from joint venture contributions
-
423,594
Net Cash from/(used in) investment activities
3,561,286 (24,431,260)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds f
is ue of share capital
-
18 874,823
Capital raising costs
-
(467,196)
Payment for buy-back of shares
(761,499)
-
Repayment of borrowings
-
(3,429,500)
Net cash from/(used in) financing activities
(761,499)
14,978,127
Net increase/(decrease) in cash and cash equivalents held
1,143,05 (14,235,113)
7,605,461 21,840,575
4
8 7 8 520 7 60 461
The accompanying notes form part of these financial statements.
CONSOLIDATED STATEMENT OF CASH FLOWS
Cash and cash equivalents at beginning of the financial year
Cash and cash equivalents at the end of the
financial year
(
8 205
53
FOR THE YEAR ENDED 30 JUNE 2015
NOTES
30 June 2015 30 June 2014
$
$
Inflows
Inflows
(Outflows)
(Outflows)
CASH FLOWS FROM OPERATING ACTIVITIES
Cash receipts from customers
7,957
29,881
ash payments to suppliers and employees
(7,324,749)
(5,540,996)
Interest received
762,850
755,471
Finance costs
-
(26,337)
Income from research and development tax incentive
4,897,215
-
Net Cash used in operating activities
(1,656,727)
(4,781,981)
CASH FLOWS FROM INVESTMENT ACTIVITIES
Redemption\(Investment) in financial assets
7,000,000
(637,662)
Payments for property, plant & equipment
(111,785)
(17,673)
ay ents for deferred exploration and evaluation expenditure
(18,543,012)
(23,040,100)
repayments for deferred exploration and evaluation expenditure
1,197,920 (1,197,920)
Research and development tax incentive
13,971,362
Proceeds from sale of property, plant and equipment
46,800
38,500
Proceeds fro joint venture contributions
-
423,594
Net Cash from/(used in) investment activities
3,561,286 (24,431,260)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issue of share capital
-
18,874,823
Capital raising costs
-
( 67,196)
Payment for buy-back of shares
(761,499)
-
Repayment of borrowings
-
(3,429,500)
Net cash from/(used in) financing activities
(761,499)
14,978,127
Net increa e/(decrease) in cash and cash equivalents held
1,143,059 (14,235, 13
7,605,461 21,840,575
4
8,748,520 7,605,461
The accompanying notes form part of these financial statements.
CONSOLIDATED STATEMENT OF CASH FLOWS
Cash and cash equivalents at beginning of the financial year
Cash and cash equivalents at the end of the
financial year
