Rule 4.7B, Appendix 4C

29 Jan 2008 07:01

Ceramic Fuel Cells Limited29 January 2008 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 DECEMBER 2007------------------- ------------------ Consolidated statement of cash flows Cash flows related to operating activities Current quarter Year to date (6 months) ------------ ------------ $A'000 $A'000 ------------ ------------ 1.1 Receipts from customers 38 421.2 Payments for (a) staff costs 1 (2,655) (5,323) (b) advertising and marketing 2 (147) (430) (c) research and product development 3 (2,049) (3,011) (d) leased assets - - (e) other working capital (834) (2,469) 1.3 Dividends received - -1.4 Interest and other items of a similar nature received 656 1,2711.5 Interest and other costs of finance paid - -1.6 Income taxes paid - -1.7 Other ------------ ------------ - Net GST Received/(Paid) 268 611 - Export Market Development Grant received - - - Sundry income received 33 34 ----- ----------------------- ------------ ------------ Net operating cash flows (4,690) (9,275) ----- ----------------------- ------------ ------------ 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 June2007, but excludes all R&PD staff costs (as per note 1 above). Current quarter Year to date (6 months) ------------- ------------- $A'000 $A'000 ------------- -------------1.8 Net operating cash flows (carried (4,690) (9,275) forward) ------------- ------------- Cash flows related to investing activities 1.9 Payment for acquisition of: (a) businesses (item 5) - - (b) equity investments - - (c) intellectual property - - (d) physical non-current assets (1,302) (3,716) (e)other non-current assets - - 1.10 Proceeds from disposal of: (a) businesses (item 5) - - (b) equity investments - - (c) intellectual property (d) physical non-current assets - - (e)other non-current assets - - 1.11 Loans to other entities - - 1.12 Loans repaid by other entities - - 1.13 Other - Security deposits decreased 1 1 (increased) ------------- ------------- Net investing cash flows (1,301) (3,715) ------------- -------------1.14 Total operating and investing cash flows (5,991) (12,990)------ ----------------------- ------------- ------------- Cash flows related to financing activities1.15 Proceeds from issues of shares, options, 2 2 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 ------------- ------------- payments) (1) 4,258 11,215 ------------- ------------- Other - Share issue costs - - ------------- ------------- Net financing cash flows 4,260 11,217 ------ ----------------------- ------------- ------------- Net increase (decrease) in cash held (1,731) (1,773)1.21 Cash at beginning of quarter/year to date 3,325 3,658 Reclassification of security deposits 2 (174)1.22 Exchange rate adjustments on foreign 33 (84) currency cash balances ------------- -------------1.23 Cash at end of quarter 1,627 1,627------ ----------------------- ------------- ------------- Funds held in Financial Assets 45,440 45,440 ------------- -------------Total Cash and Financial Assets 47,067 47,067 ============= ============= 1. The net proceeds from/(payments for) the disposal and purchase ofthe company's investments are at item 1.20. 2. Under AIFRS cash deposits held as security do not meet thedefinition of cash and cash equivalents. 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 114 item 1.2 --------------------------------------------------------------------------------1.25 Aggregate amount of loans to the parties included in - item 1.11 -------------------------------------------------------------------------------- 1.26 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 Current quarter Previous quarterquarter (as shown in the consolidated statementof cash flows) to the related items in the $A'000 $A'000accounts is as follows. ------------ -------------------------------------- -------------4.1 Cash on hand and at bank 1,627 3,325 ------------ -------------4.2 Deposits at call - - ------------ -------------4.3 Bank overdraft - - ------------ -------------4.4 Other - ------ ---------------------- ------------ ------------- Total: cash at end of quarter (item 1,627 3,325 ----- 1.23) ------------ ------------- ---------------------- Financial Assets 45,440 49,379 ------------ -------------Total Cash and Financial Assets at end of quarter 47,067 52,704 ============ ============= 1. Under AIFRS cash deposits held as security do not meet the definitionof cash and cash equivalents. Acquisitions and disposals of business entities ----------------- ------------------ Acquisitions Disposals (Item 1.9(a)) (Item 1.10(a)) ----------------- ------------------ ------------------5.1 Name of entity Not applicable Not applicable ----------------- ------------------5.2 Place of incorporation or registration ----------------- ------------------5.3 Consideration for ----------------- ------------------ acquisition or disposal5.4 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: (24) January 2008 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