11 Jan 2017 07:05
BOS GLOBAL Holdings Limited
ACN 009 087 852
AIM Release
11 January 2017
ANNUAL REPORT
BOS GLOBAL Holdings Limited ("BOS" or "the Company") (AIM: BOS) advises that it has today published the annual accounts for Forte Energy NL for the period to 30 June 2016 ("Annual Report"). The report has been forwarded to those shareholders who have elected to receive it and is available electronically in pdf format for downloading at the Company's website (www.bosglobal.com).
The summary financial statements are shown below. The Company notes that the audit opinion in relation to the Annual Report included an emphasis of matter in relation to going concern.
Following the publication of the Annual Report, the Company expects that trading in its securities on AIM will be restored today.
……………………..
Murray Wylie
Company Secretary
For further information please visit www.bosglobal.com or contact:
Michael Travia Managing Director | BOS GLOBAL Holdings Limited | Tel: +61 (0) 8 9322 4071 E: shareholder@bosglobal.com |
Oliver Morse NOMAD | RFC Ambrian Limited | Tel: +61 (0) 8 9480 2500 |
Charles Goodfellow / Lucy Williams Joint Broker | Peterhouse Corporate Finance Limited | Tel: +44 (0) 20 7220 9791 |
Elisabeth Cowell / Charlotte Page Financial PR | St Brides Partners Ltd | Tel: +44 (0) 20 7236 1177 |
About BOS GLOBAL
BOS GLOBAL is a software company focused on creating enterprise productivity solutions for the global workforce market. It does this through a blend of business process automation, intelligence gathering and advanced analytics to drive efficient business practices and workplace engagement.
The Company is currently developing the BOS360 Work Patterns Platform based upon its existing and international patent pending research and development, and to provide businesses with a comprehensive platform through which they can capture, manage and measure efficiency in real time at the individual, team and organisational level.
BOS GLOBAL Holdings Limited
ABN 59 009 087 852
SUMMARY FINANCIAL STATEMENTS
30 JUNE 2016
BOS GLOBAL Holdings Limited
(Formerly Forte Energy NL)
Suite 3, Level 3
1292 Hay Street
West Perth WA 6005
BOS GLOBAL Holdings Limited
(ABN 59 009 087 852)
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 JUNE 2016
|
| Consolidated |
| Consolidated |
|
Notes | 2016 $ |
| 2015 $ |
|
|
|
|
|
Revenue | 6 | 827 |
| 940 |
Expenses | 7 | (2,355,333) |
| (34,662,396) |
Loss before income tax |
|
(2,354,506) |
|
(34,661,456) |
Income tax expense | 8 | - |
| - |
Net loss for the year |
|
(2,354,506) |
|
(34,661,456) |
|
|
|
|
|
Other comprehensive income |
|
|
|
|
Items that may be reclassified subsequently to profit or loss |
|
|
|
|
Net gain on available for sale investments |
| 13,764 |
| - |
Exchange differences on translation of foreign operations |
| 2,293 |
| 37,628 |
Other comprehensive profit for the year net of tax |
| 16,057 |
| 37,628 |
TOTAL COMPREHENSIVE LOSS FOR THE YEAR |
| (2,338,449) |
| (34,623,828) |
|
|
|
|
|
|
|
|
|
|
Loss per share (dollars per share) attributable to ordinary equity holders of the Company |
|
|
|
|
- basic loss for the year | 9 | (0.77) |
| (45.38) |
- diluted loss for the year | 9 | (0.77) |
| (45.38) |
|
|
|
|
|
The above statement of comprehensive income should be read in conjunction with the accompanying notes.
BOS GLOBAL Holdings Limited
(ABN 59 009 087 852)
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2016
|
| Consolidated |
| Consolidated |
| Notes | As at 30 June 2016 |
| As at 30 June 2015 |
|
| $ |
| $ |
ASSETS |
|
|
|
|
Current Assets |
|
|
|
|
Cash and cash equivalents | 10 | 11,862 |
| 215,095 |
Trade and other receivables | 11 | 2,278 |
| 261,736 |
Prepayments |
| - |
| 23,615 |
Available-for-sale investments | 12 | 25,378 |
| 106,578 |
Total Current Assets |
| 39,518 |
| 607,024 |
|
|
|
|
|
Non-Current Assets |
|
|
|
|
Available-for-sale investments | 12 | 489 |
| 12,892 |
Exploration and evaluation expenditure | 13 | - |
| 444,383 |
Plant and equipment | 14 | 6,849 |
| 29,036 |
Total Non-Current Assets |
| 7,338 |
| 486,311 |
|
|
|
|
|
TOTAL ASSETS |
| 46,856 |
| 1,093,335 |
|
|
|
|
|
LIABILITIES |
|
|
|
|
Current Liabilities |
|
|
|
|
Trade and other payables | 15 | 456,391 |
| 630,284 |
Income tax payable |
| 3,624 |
| 37,218 |
Provisions | 16 | 12,821 |
| 45,976 |
Loans from related parties | 23(f) | 45,962 |
| 23,839 |
Convertible loan notes | 17 | 404,400 |
| - |
Derivative financial liability relating to convertible notes |
17 |
361,869 |
|
620,886 |
Total Current Liabilities |
| 1,285,867 |
| 1,358,203 |
|
|
|
|
|
Non-Current Liabilities |
|
|
|
|
Convertible loan notes | 17 | 164,412 |
| 743,565 |
Derivative financial instruments-Warrants | 18 | 8,994 |
| 132,085 |
Provisions | 16 | 26,750 |
| 24,119 |
Total Non-Current Liabilities |
| 200,156 |
| 899,769 |
|
|
|
|
|
TOTAL LIABILITIES |
| 1,485,223 |
| 2,257,972 |
|
|
|
|
|
NET LIABILITIES |
| (1,438,367) |
| (1,164,637) |
|
|
|
|
|
SHAREHOLDERS' DEFICIT |
|
|
|
|
Issued capital | 19 | 95,545,441 |
| 93,480,722 |
Reserves | 20 | 2,220,076 |
| 2,204,019 |
Accumulated losses | 20 | (99,203,884) |
| (96,849,378) |
TOTAL SHAREHOLDERS' DEFICIT |
|
(1,438,367) |
|
(1,164,637) |
The above statement of financial position should be read in conjunction with the accompanying notes.
BOS GLOBAL Holdings Limited
(ABN 59 009 087 852)
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2016
Contributed | Accumulated | Available | Equity | Foreign | Total | ||
equity | losses | for sale | benefits | currency | equity | ||
investments | reserve | translation | |||||
reserve | |||||||
$ | $ | $ | $ | $ | $ | ||
Consolidated | |||||||
At 1 July 2015 | 93,480,722 | (96,849,378) | - | 2,521,606 | (317,587) | (1,164,637) | |
Loss for the period | - | (2,354,506) | - | - | - | (2,354,506) | |
Other comprehensive income | - | - | 13,764 | - | 2,293 | 16,057 | |
Total comprehensive income for the year net of tax | - | (2,354,506) | 13,764 | - | 2,293 | (2,338,449) | |
Equity transactions: | |||||||
Issue of ordinary shares | 2,075,503 | - | - | - | - | 2,075,503 | |
Transaction costs | (10,784) | - | - | - | - | (10,784) | |
Balance at30 June 2016 | 95,545,441 | (99,203,884) | 13,764 | 2,521,606 | (315,294) | (1,438,367) | |
Contributed | Accumulated | Equity | Foreign | Total | |
equity | losses | benefits | currency | equity | |
reserve | translation | ||||
$ | $ | $ | $ | $ | |
Consolidated | |||||
At 1 July 2014 | 89,160,792 | (62,187,922) | 2,521,606 | (355,215) | 29,139,261 |
Loss for the period | - | (34,661,456) | - | - | (34,661,456) |
Other comprehensive income | - | - | - | 37,628 | 37,628 |
Total comprehensive income for the year net of tax | - | (34,661,456) | - | 37,628 | (34,623,828) |
Equity transactions: | |||||
Issue of ordinary shares | 4,364,439 | - | - | - | 4,364,439 |
Transaction costs | (44,509) | - | - | - | (44,509) |
Balance at30 June 2015 | 93,480,722 | (96,849,378) | 2,521,606 | (317,587) | (1,164,637) |
The above statement of changes in equity should be read in conjunction with the accompanying notes.
BOS GLOBAL Holdings Limited
(ABN 59 009 087 852)
CONSOLIDATED sTATEMENT OF cASH fLOWS
For The Year Ended 30 June 2016
|
| Consolidated |
| Consolidated |
| Notes | 2016 |
| 2015 |
|
| $ |
| $ |
|
|
|
|
|
Cash flows from operating activities |
|
|
|
|
|
|
|
|
|
Payments to suppliers and employees |
| (636,613) |
| (1,394,383) |
Income tax paid |
| - |
| 14,339 |
Interest and other income received |
| 827 |
| 940 |
Net cash flows used in operating activities |
21 |
(635,786) |
|
(1,379,102) |
|
|
|
|
|
Cash flows from investing activities
|
|
|
|
|
Payment for 75% equity investment in Copper Range |
| - |
| (300,000) |
Payment for 50% equity investment in Slovak entities |
| - |
| (980,780) |
Payment for exploration and evaluation expenditure |
| (8,611) |
| (198,618) |
Proceeds from sale of held-for-trading investment |
| 41,152 |
| 169,311 |
Payment for property, plant and equipment |
| - |
| (774) |
Net cash flows used in investing activities |
|
32,541 |
|
(1,310,861) |
|
|
|
|
|
Cash flows from financing activities
|
|
|
|
|
Proceeds from issue of shares |
| - |
| 320,000 |
Proceeds from borrowings |
| 410,092 |
| 2,895,714 |
Repayment of related party loans |
| - |
| (267,646) |
Net cash from financing activities |
|
410,092 |
|
2,948,068 |
|
|
|
|
|
Net decrease in cash and cash equivalents |
| (193,153) |
| 258,105 |
Cash and cash equivalents at the beginning of the financial year |
|
215,095 |
|
92,467 |
Effects of exchange rate changes on cash and cash equivalents |
|
(10,080) |
|
(135,477) |
Cash and cash equivalents at the end of financial year |
10 |
11,862 |
|
215,095 |
The above cash flow statement should be read in conjunction with the accompanying notes.
Please note that the complete Annual Report is available at the Company's website: www.bosglobal.com