Simavita Annual Report 2018

Consolidated Notes June 30, 2018 $ June 30, 2017 $ Cash flows from/(used in) operating activities Loss for the year (4,942,295) (7,752,516) Non-cash items Depreciation and amortization 50,670 108,027 Bad debts written-off – 483 Share-based payments expenses 84,510 1,053,326 Net (Gain)/Loss on sale of plant and equipment – (150) Unrealized foreign exchange movements (10,497) (3,015) Accrued interest on borrowings and convertible notes 172,619 – Changes in working capital (Increase)/decrease in receivables 544,495 576,458 (Increase)/decrease in inventories 283,620 (8,605) (Increase)/decrease in prepayments (61,210) 24,777 Increase/(decrease) in payables (160,594) (236,886) Increase/(decrease) in provisions (41,321) (9,084) Net cash flows from/(used in ) operating activities (4,080,003) (6,247,185) Cash flows from/(used in) investing activities Purchases of plant and equipment (177) (2,690) Purchases of intangible assets (224) – Proceeds from the sale of plant and equipment – 150 Net cash flows from/(used in ) investing activities (401) (2,540) Cash flows from/(used in) financing activities Proceeds from the issue of shares by the Company – 2,348,109 Proceeds from the borrowings 1,305,461 – Proceeds from the issue of convertible notes 2,750,000 – Repayment of the borrowings (695,039) – Cancellation of fractional shares – (24) Equity transaction costs – (188,853) Net cash flows from/(used in ) financing activities 3,360,422 2,159,232 Net increase/(Decrease) in cash and cash equivalents held (719,982) (4,090,493) Cash and cash equivalents at the beginning of period 2,072,353 6,172,770 Net foreign exchange differences on cash and cash equivalents 9,113 (9,924) Cash and cash equivalents at the end of period 10 1,361,484 2,072,353 The accompanying notes form an integral part of these consolidated financial statements Consolidated Statement of Cash Flows for the year ended June 30, 2018 21

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