Ceramic Fuel Cells Regulatory News (CFU)

23 Apr 2007 07:00

Ceramic Fuel Cells Limited23 April 2007 Rule 4.7B Appendix 4C Quarterly report for entities admitted on the basis of commitments Introduced 31/3/2000. Amended 30/9/2001 Name of entityCERAMIC FUEL CELLS LIMITED ABN Quarter ended ("current quarter")82 055 736 671 31 MARCH 2007 Consolidated statement of cash flows Cash flows related to operating activities Current Year to quarter date $A'000 (9 months) $A'000 1.1 Receipts from customers 3 1471.2 Payments for (2,288) (7,236) (a) staff costs 1 (332) (746) (b) advertising and marketing 2 (1,069) (3,407) (c) research and product development 3 - - (d) leased assets (1,199) (3,658) (e) other working capital 1.3 Dividends received - -1.4 Interest and other items of a similar nature 1,290 2,970 received1.5 Interest and other costs of finance paid - -1.6 Income taxes paid - -1.7 Other 266 721 - Net GST Received/(Paid) - - - Export Market Development Grant received 1 5 - Sundry income received Net operating cash flows (3,328) (11,204) Notes 1. 'Staff costs' includes all company labour and associated headcountcosts, and therefore incorporates all Research & Product Development (R&PD)staff, Sales & Marketing (S&M) staff and General & Administrative (G&A) staff. 2. 'Advertising and marketing' excludes all S&M staff costs (as per note 1above). 3. 'Research and product development' costs includes all R&PD costs asdefined in Note 1(e) to the Financial Statements for the year ended 30 June2006, but excludes all R&PD staff costs (as per note 1 above). Current Year to quarter date $A'000 (9 months) $A'000 1.8 Net operating cash flows (carried forward) (3,328) (11,204) Cash flows related to investing activities 1.9 Payment for acquisition of: - - businesses (item 5) - - equity investments - - intellectual property (2,203) (5,177) physical non-current assets - - other non-current assets 1.10 Proceeds from disposal of: - - businesses (item 5) - - equity investments - - intellectual property - - physical non-current assets - - other non-current assets 1.11 Loans to other entities - -1.12 Loans repaid by other entities - -1.13 Other - - Net investing cash flows (2,203) (5,177) 1.14 Total operating and investing cash flows (5,531) (16,381) Cash flows related to financing activities 1.15 Proceeds from issues of shares, options, etc. - -1.16 Proceeds from sale of forfeited shares - -1.17 Proceeds from borrowings - -1.18 Repayment of borrowings - -1.19 Dividends paid - -1.20 Other - Financial assets: Net proceeds/(Net 5,569 8,753 payments) 1 Other - Share issue costs - (31) Net financing cash flows 5,569 8,722 Net increase (decrease) in cash held 38 (7,659) 1.21 Cash at beginning of quarter/year to date 3,313 11,3671.22 Exchange rate adjustments on foreign currency (92) (449) cash balances1.23 Cash at end of quarter 3,259 3,259 Funds held in Financial Assets 64,836 64,836Total Cash and Financial Assets 68,095 68,095 1. The net proceeds/(payments) from the disposal and purchase of thecompany's investments are at item 1.20. Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the relatedentities Current quarter $A'000 1.24 Aggregate amount of payments to the parties included in 136 item 1.21.25 Aggregate amount of loans to the parties included in item - 1.111.26 Explanation necessary for an understanding of the transactions Directors' fees. Non-cash financing and investing activities 2.1 Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows -------------------------------------------- NIL -------------------------------------------- 2.2 Details of outlays made by other entities to establish or increase their share in businesses in which the reporting entity has an interest -------------------------------------------- NIL -------------------------------------------- Financing facilities available Add notes as necessary for an understanding of the position. (See AASB 1026paragraph 12.2). Amount available Amount used $A'000 $A'000 3.1 Loan facilities - -3.2 Credit standby arrangements - - Reconciliation of cash Reconciliation of cash at the end of the quarter (as shown in Current Previousthe consolidated statement of cash flows) to the related items quarter quarterin the accounts is as follows. $A'000 $A'000 4.1 Cash on hand and at bank 3,075 31294.2 Deposits at call - -4.3 Bank overdraft - -4.4 Other 184 184 - Security deposits Total: cash at end of quarter (item 1.23) 3,259 3,313 Financial Assets 64,836 71,763Total Cash and Financial Assets at end of quarter 68,095 75,076 Acquisitions and disposals of business entities Acquisitions Disposals (Item 1.9(a)) (Item 1.10(a)) 5.1 Name of entity Not applicable Not applicable5.2 Place of incorporation or registration 5.3 Consideration for acquisition or disposal 5.4 Total net assets 5.5 Nature of business Compliance statement 1 This statement has been prepared under accounting policies which comply withaccounting standards as defined in the Corporations Act (except to the extentthat information is not required because of note 2) or other standardsacceptable to ASX. 2 This statement does give a true and fair view of the matters disclosed. Sign here: ....................................... Date: 19 April 2007 Print name: David Carruthers Director Notes 1. The quarterly report provides a basis for informing the market how theentity's activities have been financed for the past quarter and the effect onits cash position. An entity wanting to disclose additional information isencouraged to do so, in a note or notes attached to this report. 2. The definitions in, and provisions of, AASB 1026: Statement of Cash Flowsapply to this report except for the paragraphs of the Standard set out below. • 6.2 - reconciliation of cash flows arising fromoperating activities to operating profit or loss • 9.2 - itemised disclosure relating to acquisitions • 9.4 - itemised disclosure relating to disposals • 12.1(a) - policy for classification of cash items • 12.3 - disclosure of restrictions on use of cash • 13.1 - comparative information 3. Accounting Standards. ASX will accept, for example, the use of InternationalAccounting Standards for foreign entities. If the standards used do not addressa topic, the Australian standard on that topic (if any) must be complied with. This information is provided by RNS The company news service from the London Stock Exchange