Cellmid 2018 Annual Report 33
CONSOLIDATED STATEMENT
OF CASH FLOWS
The above Statement of Cashflows should be read in conjunction with the accompanying notes.
FOR THE YEAR ENDED 30 JUNE 2018
2018 2017
Note $ $
CASH FLOWS FROM OPERATING ACTIVITIES:
Receipts from customers 5,038,814 5,001,390
Payments to suppliers and employees (10,293,029) (9,823,291)
Interest received 33,599 56,956
Grant income 1,056,963 831,408
Finance costs (357,981) (126,982)
Net cash used in operating activities 21 (4,521,634) (4,060,519)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of non-current assets (107,167) (35,877)
Net cash used in investing activities (107,167) (35,877)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issue of shares 1,326,000 4,190,559
Share issue costs, net of tax (26,952) (116,455)
Proceeds from loans and borrowings 903,477 1,867,960
Repayments of loans and borrowings - (498,277)
Net cash provided by financing activities 2,202,525 5,443,787
Net (decrease) / increase in cash and cash equivalents held (2,426,276) 1,347,391
Cash and cash equivalents at beginning of financial year 3,994,641 2,686,329
Effect of exchange rate changes 39,418 (39,079)
Cash and cash equivalents at end of financial year 9 1,607,783 3,994,641
Consolidated