Updated Statement of Financial Position
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19 December 2016
UPDATED PRO FORMA STATEMENT OF FINANCIAL POSITION
The following is an updated statement of financial position for Ausnet Financial Services Limited (formerly Namibian
Copper Limited) (the Company) based on actual funds raised $5,800,000 under the prospectus issued by the Company
dated 29 July 2016 and updated for 30 June 2016 balances:
Unaudited
Pro Forma
Actual Actual After Acquisition
30 June 2016 30 June 2016 and Capital
Ausnet Company Raising
$ $ $
Current assets
Cash and cash equivalents 153,978 583,146 6,189,124
Trade and other receivables 1,092,550 17,724 1,110,274
Other current assets - 3,679 3,679
Total current assets 1,246,528 604,549 7,303,077
Non-current assets
Property, plant and equipment 22,613 - 22,613
Deferred tax assets 346,821 - 346,821
Total non-current assets 369,434 - 369,434
Total assets 1,615,962 604,549 7,672,511
Current liabilities
Trade and other payables 2,060,905 149,611 2,174,516
Borrowings 449,473 - 449,473
Provisions 441,693 - 441,693
Total current liabilities 2,952,071 149,611 3,065,682
Non-current liabilities
Provisions 94,371 - 94,371
Total non-current liabilities 94,371 - 94,371
Total liabilities 3,046,442 149,611 3,160,053
Net assets (1,430,480) 454,938 4,512,458
Equity
Issued capital 2,509,890 8,203,866 9,129,169
Reserves - 8,021 -
Accumulated losses (3,940,370) (7,740,444) (3,940,370)
Less: Corporate transaction accounting expense - - (676,341)
Non-controlling interest - (16,505) -
Total equity (1,430,480) 454,938 4,512,458
Jay Stephenson
COMPANY SECRETARY
Ausnet Financial Services Limited ABN 118 913 232
Registered Office
Suite 12, Level 1, 11 Ventnor Avenue
PO Box 52, West Perth WA 6872
Tel: +61 8 6141 3500 | Fax: + 61 8 6141 3599