Environmental Clean Technologies Limited (ASX:ESI) attaches the Company’s Financial Report for the year ended 30 June 2015.
In the attached Financial Report, you will find a wealth of detail outlining the Company’s status; financial results, governance status, remuneration detail and so on.
The document is important, and the Board of ECT encourages you to read it in its entirety.
Highlights within the report that should be noted are:
- Positive NTA from 2014
- Decreased underlying cash expenditure of more than $400k year over year (nearly 20% of current expenditures) – a result of continued strong cost management focus and operational discipline
- A significant increase in the asset base of the Company, associated with the acquisition of the Matmor process equipment
- A corresponding increase in the depreciation expense (non-cash) associated with the Matmor equipment acquisition
- The successful conclusion of the issue of new Options series (ESIOA and ESIOB), as well as subsequent conversion of a portion of those options, supporting the Company’s cash flow needs
- The continued importance of the R&D tax rebate in supporting the Company’s on-going activities, including value from unclaimed Matmor depreciation balance, via the R&D rebate, in excess of $1.6 million
Download (PDF): ECT Financial Report 2015
For further information, contact:
Ashley Moore – Managing Director firstname.lastname@example.org