Urbanise.com Annual Report 2019

Consolidated Statement of Cash Flows for the year ended 30 June 2019 Notes 2019 $ 2018 $ Cash flows from operating activities Receipts from customers 9,511,493 7,958,871 Payments to suppliers and employees (12,028,313) (16,579,089) Interest received 14,673 11,592 R&D Tax refund – 549,467 Tax (paid)/received – 61,222 Interest paid (27) (1,231) Net cash used in operating activities 22 (2,502,174) (7,999,168) Cash flows from investing activities Payments for property, plant & equipment 13 (70,953) – Receipts on sale of Devices business and Intellectual Property 8 86,711 350,000 Payments for intangible assets 14 (696,367) (1,161,688) Net cash used in investing activities (680,609) (811,688) Cash flows from financing activities Proceeds from issue of shares 19 4,084,282 7,077,754 Payments for share issue costs 19 (271,364) (429,067) Net cash provided by financing activities 3,812,918 6,648,687 Net increase/(decrease) in cash and cash equivalents 630,135 (2,162,169) Cash and cash equivalents at the beginning of the period 22 3,072,206 5,240,989 Effect of movement in exchange rates on cash balances – (6,614) Cash and cash equivalents at the end of the period 22 3,702,341 3,072,206 The consolidated statement of cash flows should be read in conjunction with the accompanying notes. 37