ASC 6.67% 1.6¢ adultshop.com limited

AdultShop - Reports tomorrow, page-2

  1. 3,567 Posts.
    re: AdultShop - Result The result was well below my personal estimates but still a good out come.

    At 20c ASC is valued at approx 60m, they have no debt and $11.9m cash in the bank.

    With operating cashflow running at $5.8m i.e. annualised rate of $23.2m, this equates to 7.6cps.

    Here is the announcement. Again the growth is from online entertainment business.

    ASX Code: ASC
    Announcement: Commitments Test Entity - Third Quarter Report

    Date: 30 April 2002 - 12:59:06
    Market Sensitive: Yes

    ADULTSHOP.COM LIMITED 2002-04-30 ASX-SIGNAL-G

    HOMEX - Perth

    +++++++++++++++++++++++++
    APPENDIX 4C
    QUARTERLY REPORT FOR ENTITIES
    ON BASIS OF COMMITMENTS

    Name of entity
    Adultshop.Com Limited

    ACN or ARBN Quarter ended ("current quarter")
    92 009 147 924 31/03/2002

    CONSOLIDATED STATEMENT OF CASH FLOWS

    Cash flows related to Current Year to date
    operating activities Quarter (9 months)
    AUD'000 AUD'000

    1.1 Receipts from customers 32,479 69,324
    1.2 Payments for
    (a) staff costs (1,985) (5,890)
    (b) advertising & marketing (870) (3,018)
    (c) research & development - -
    (d) leased assets (85) (85)
    (e) other working capital (23,813) (47,944)
    1.3 Dividends received - -
    1.4 Interest and other items of
    a similar nature received 83 194
    1.5 Interest and other costs of
    finance paid (37) (165)
    1.6 Income taxes paid - -
    1.7 Other (provide details if material) - -

    1.8 Net Operating Cash Flows 5,772 12,416

    Cash flows related to investing activities
    1.9 Payment for acquisition of:
    (a) businesses (item 5) (60) (1,120)
    (b) equity investments - -
    (c) intellectual property (391) (541)
    (d) physical non-current assets (207) (452)
    (e) other non-current assets - -
    1.10 Proceeds from disposal of:
    (a) businesses - -
    (b) equity investments - -
    (c) intellectual property - -
    (d) physical non-current assets 26 36
    (e) other non-current assets - -
    1.11 Loans to other entities - -
    1.12 Loans repaid by other entities 87 217
    1.13 Other (provide details if material) - -

    Net investing cash flows (545) (1,860)

    1.14 Total operating and
    investing cash flows 5,227 10,556

    Cash flows related to financing activities
    1.15 Proceeds from issues of
    shares, options, 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 (provide details if material) - -

    Net financing cash flows - -

    Net increase (decrease) in cash held 5,227 10,556

    1.21 Cash at beginning of quarter/
    year to date 6,661 1,332

    1.22 Exchange rate adjustments to item 1.20 - -

    1.23 Cash at end of quarter 11,888 11,888


    PAYMENTS TO DIRECTORS OF THE ENTITY AND ASSOCIATES OF THE DIRECTORS
    PAYMENTS TO RELATED ENTITIES AND ASSOCIATES OF THE RELATED ENTITIES

    Current Quarter
    AUD'000

    1.24 Aggregate amount of payments to
    the parties included in item 1.2 156

    1.25 Aggregate amount of loans to the
    parties included in item 1.11 -

    1.26 Explanation necessary for an understanding
    of the transactions

    Item 1.24 Fees and remuneration paid to executive and non-executive
    directors and payments to director related entities for the provision
    of accounting, company secretarial, legal and management services.

    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

    N/A

    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

    N/A


    FINANCING FACILITIES AVAILABLE
    Add notes as necessary for an understanding of the position.

    Amount Amount
    available used
    AUD'000 AUD'000

    3.1 Loan facilities - -
    3.2 Credit standby arrangements 1,000 -



    RECONCILIATION OF CASH

    Reconciliation of cash at the end Current Previous
    of the quarter (as shown in the quarter quarter
    consolidated statement of cash flows) AUD'000 AUD'000
    to the related items in the accounts
    is as follows.

    4.1 Cash on hand and at bank 8,975 4,656
    4.2 Deposits at call 2,913 2,005
    4.3 Bank overdraft - -
    4.4 Other (provide details) - -

    Total: cash at end of quarter (item 1.22) 11,888 6,661




    ACQUISITIONS AND DISPOSALS OF BUSINESS ENTITIES

    Acquisitions Disposals
    (item 1.9(a)) (Item 1.10(a))

    5.1 Name of entity Mail Order N/A
    Direct (MOD)

    5.2 Place of incorporation
    or registration
    Information has been
    5.3 Consideration for previously provided
    acquisition or disposal in the Appendix 4C
    for the quarter ended
    31/12/2001.
    5.4 Total net assets

    5.5 Nature of business

    The amount disclosed at 1.9(a) of $60,000 relates to the MOD
    acquistion as disclosed above.

    NOTE 1: NET OPERATING CASH FLOWS

    The net operating cash inflow for the quarter of $5,772,000 is a
    significant improvement from the December quarter net operating cash
    inflow of $4,905,000 (a positive movement of $867,000). The increase
    in net operating cash inflow is a result of:

    * the successful implementation of various growth opportunities at the
    online entertainment business, Today's Success Pty Ltd;

    * the general improvement in business trading conditions across the
    whole AdultShop group.

    NOTE 2: NET INVESTING CASH FLOWS:

    Investing cash outflows include the three monthly payments of $20,000
    for the purchase of Mail Order Direct (MOD).

    NOTE 3: CASH FLOW FORECAST:

    This is the third consecutive quarter of strong positive cash flows
    generated by Today's Success Pty Ltd to continue and this will enable
    the Company to review acquisitions and allocated cash resources to
    internal growth opportunities particularly in the area of on-line
    adult entertainment.


    COMPLIANCE STATEMENT

    1. This statement has been prepared under accounting policies which
    comply with accounting standards as defined in the Corporations Law
    or other standards acceptable to ASX.

    2. This statement does give a true and fair view
    of the matters disclosed.

    M Day
    DIRECTOR Date: 30/04/2002

 
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