Commitments Test Entity - Second Quarter Report
Document date:
Thu 31 Jan 2002
Published:
Thu 31 Jan 2002 00:00:00
Document No:
186629
Document part:
A
Market Flag:
Y
Classification:
ANTISENSE THERAPEUTICS LIMITED 2002-01-31 ASX-SIGNAL-G
HOMEX - Melbourne
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APPENDIX 4C
QUARTERLY REPORT FOR ENTITIES
ON BASIS OF COMMITMENTS
Name of entity
Antisense Therapeutics Limited
ACN or ARBN Quarter ended ("current quarter")
41 095 060 745 31/12/2001
CONSOLIDATED STATEMENT OF CASH FLOWS
Cash flows related to Current Year to date
operating activities Quarter (6 months)
AUD'000 AUD'000
1.1 Receipts from customers - -
1.2 Payments for
(a) staff costs (25) (49)
(b) advertising & marketing - -
(c) research & development (391) (625)
(d) leased assets - -
(e) other working capital (88) (160)
1.3 Dividends received - -
1.4 Interest and other items of
a similar nature received 2 7
1.5 Interest and other costs of
finance paid - -
1.6 Income taxes paid - -
1.7 Other (provide details if material)
GST received from ATO 15 34
1.8 Net Operating Cash Flows (487) (793)
Cash flows related to investing activities
1.9 Payment for acquisition of:
(a) businesses (item 5) - -
(b) equity investments - -
(c) intellectual property - -
(d) physical non-current assets (7) (8)
(e) other non-current assets - -
1.10 Proceeds from disposal of:
(a) businesses - -
(b) equity investments - -
(c) intellectual property - -
(d) physical non-current assets - -
(e) other non-current assets - -
1.11 Loans to other entities - -
1.12 Loans repaid by other entities - -
1.13 Other (provide details if material) -
Net investing cash flows (7) (8)
1.14 Total operating and
investing cash flows (494) (801)
Cash flows related to financing activities
1.15 Proceeds from issues of
shares, options, etc. 16,974 16,974
1.16 Proceeds from sale of
forfeited shares - -
1.17 Proceeds from borrowings 100 100
1.18 Repayment of borrowings (100) (138)
1.19 Dividends paid - -
1.20 Other (provide details if material) - -
Net financing cash flows 16,974 16,936
Net increase (decrease) in cash held 16,480 16,135
1.21 Cash at beginning of quarter/
year to date 290 635
1.22 Exchange rate adjustments to item 1.20 - -
1.23 Cash at end of quarter 16,770 16,770
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 (31)
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 above mostly comprises salaries paid to executive directors.
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
* 30 million shares were issued to Isis Pharmaceuticals Inc in
exchange for certain rights granted to the company by Isis
Pharmaceuticals Inc (which give rise to an intangible asset -
intellectual property). These shares are escrowed for a period of two
years. The directors estimated the fair value to be attributed to
the shares of 15 cents each, which represents a 25% discount to the
initial public offer price. The discount was determined after
consideration of the conditions and restrictions attached to these
shares, specifically the price effect of the escrow conditions. In
addition to the share issue, 20 million options were issued to Isis
Pharmaceuticals Inc for a consideration of 1 cent per option.
* 11.25 million shares were issued to the Murdoch Childrens Research
Institute in exchange for certain rights granted to the company by
the Murdoch Childrens Research Institute (which gave rise to an
intangible asset - intellectual property). The fair value attributed
to the shares issued was determined on the same basis as above.
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 - -
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 5,770 140
4.2 Deposits at call 11,000 150
4.3 Bank overdraft - -
4.4 Other (provide details) - -
Total: cash at end of quarter (item 1.22) 16,770 290
ACQUISITIONS AND DISPOSALS OF BUSINESS ENTITIES
Acquisitions Disposals
(item 1.9(a)) (Item 1.10(a))
5.1 Name of entity N/A N/A
5.2 Place of incorporation
or registration - -
5.3 Consideration for
acquisition or disposal - -
5.4 Total net assets - -
5.5 Nature of business - -
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.
N Korchev
COMPANY SECRETARY Date: 31/01/2002