Press Release: Locafy Reports Fiscal First Quarter 2025 Results

Dow Jones11-13

This press release contains "forward-looking statements" that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as "subject to", "believe," "anticipate," "plan," "expect," "intend," "estimate," "project," "may," "will," "should," "would," "could," "can," the negatives thereof, variations thereon and similar expressions, or by discussions of strategy, although not all forward-looking statements contain these words. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, they do involve assumptions, risks, and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors and risk factors, including those discussed in the Company's filings with the Securities and Exchange Commission (the "SEC"), including the Company's Annual Report on Form 20-F filed with the SEC on November 12, 2024, and available on its website . All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

Investor Relations Contact

Matt Glover or Matt Szot

Gateway Investor Relations

(949) 574-3860

LCFY@gateway-grp.com

 
 
                 -Financial Tables to Follow- 
 
                        Locafy Limited 
       Consolidated Statement of Profit or Loss and Other 
                      Comprehensive Income 
                          (Unaudited) 
 
                                    3 months to    3 months to 
                                     30 Sep 2024    30 Sep 2024 
                                        AUD $          AUD $ 
Revenue                                  785,166        785,166 
Other income                             661,516        661,516 
Technology expense                      (312,484)      (312,484) 
Employee benefits expense               (454,422)      (454,422) 
Occupancy expense                        (27,761)       (27,761) 
Advertising expense                      (21,021)       (21,021) 
Consultancy expense                     (151,547)      (151,547) 
Depreciation and amortization 
 expense                                (452,072)      (452,072) 
Other expenses                           (67,114)       (67,114) 
Operating loss                           (39,739)       (39,739) 
Financial cost                           (15,713)       (15,713) 
                                    ------------   ------------ 
Loss before income tax                   (55,452)       (55,452) 
Income tax expense                             -              - 
                                    ------------   ------------ 
Loss for the period after tax            (55,452)       (55,452) 
                                    ------------   ------------ 
 
Other comprehensive income 
Items that will be 
reclassified subsequently to 
profit and loss 
Exchange differences on 
 translating foreign operations           22,320         22,320 
                                    ------------   ------------ 
Total comprehensive loss for the 
 period                                  (33,132)       (33,132) 
                                    ------------   ------------ 
 
Earnings per share 
Basic loss per share                       (0.04)         (0.04) 
Diluted loss per share                     (0.04)         (0.04) 
 
 
 
                          Locafy Limited 
            Consolidated Statement of Financial Position 
 
                            As at          As at          As at 
                          30 Sep 2024    30 Jun 2024    30 Jun 2023 
                             AUD $          AUD $          AUD $ 
                          (unaudited)     (audited)      (audited) 
Assets 
Current assets 
Cash and cash 
 equivalents                  409,379        275,875      3,174,700 
Trade and other 
 receivables                1,493,217        904,564      1,288,513 
Other assets                  271,900        294,355        356,782 
                         ------------   ------------   ------------ 
Total current assets        2,174,496      1,474,794      4,819,995 
                         ------------   ------------   ------------ 
Non-current assets 
Property, plant and 
 equipment                    171,759        196,929        380,018 
Right of use assets           251,760        280,810        314,596 
Intangible assets           4,162,493      4.204,966      3,720,272 
                         ------------   ------------   ------------ 
Total non-current 
 assets                     4,586,012      4,682,705      4,414,886 
                         ------------   ------------   ------------ 
Total assets                6,760,508      6,157,499      9,234,881 
                         ------------   ------------   ------------ 
 
Liabilities 
Current liabilities 
Trade and other 
 payables                   1,229,033      1,252,503      2,507,573 
Borrowings                    271,600        271,600        301,600 
Provisions                    187,130        211,300        214,465 
Accrued expenses              380,283        496,749        512,611 
Lease liabilities             131,162        128,669         85,165 
Contract and other 
 liabilities                  153,192        147,640        152,211 
                         ------------   ------------   ------------ 
Total current 
 liabilities                2,352,400      2,508,461      3,773,625 
                         ------------   ------------   ------------ 
Non-current liabilities 
Lease liabilities             170,183        203,909        332,578 
Provisions                    132,234        133,399        138,721 
Total non-current 
 liabilities                  302,417        337,308        471,299 
                         ------------   ------------   ------------ 
Total liabilities           2,654,817      2,845,769      4,244,924 
                         ------------   ------------   ------------ 
Net assets                  4,105,691      3,311,730      4,989,957 
                         ------------   ------------   ------------ 
 
Equity 
Issued capital             49,366,644     48,588,888     47,930,486 
Reserves                    2,997,336      2,925,679      2,404,933 
Accumulated losses        (48,258,288)   (48,202,837)   (45,345,462) 
                         ------------   ------------   ------------ 
Total equity                4,105,692      3,311,730      4,989,957 
                         ------------   ------------   ------------ 
 
 
 
                         Locafy Limited 
               Consolidated Statement of Cash Flows 
 
                           3 months to 
                            30 Sep 2024     FY2024       FY2023 
                               AUD $         AUD $        AUD $ 
                            (unaudited)    (audited)    (audited) 
Cash flows from 
operating activities 
Receipts from customers 
 (inclusive of GST)             640,786    3,098,793    4,463,725 
Payments to suppliers and 
 employees (inclusive of 
 GST)                          (916,112)  (4,658,997)  (7,005,510) 
R&D Tax Incentive and 
 government grants                    -      561,501      386,181 
Financial cost                  (15,713)    (114,199)    (105,367) 
                           ------------   ----------   ---------- 
Net cash used by 
 operating activities          (291,039)  (1,112,902)  (2,260,971) 
                           ------------   ----------   ---------- 
 
Cash flows from 
investing activities 
Purchase of intellectual 
 property                      (355,381)  (2,166,587)  (1,617,446) 
Purchase of property, 
 plant and equipment                  -            -       (2,170) 
Maturity of term deposit              -       40,000            - 
                           ------------   ----------   ---------- 
Net cash used by 
 investing activities          (355,381)  (2,126,587)  (1,619,616) 
                           ------------   ----------   ---------- 
 
Cash flows from 
financing activities 
Proceeds from issue of 
 shares                         821,814      769,936    3,295,822 
Payment for share issue 
 costs                          (29,492)    (313,643)    (403,373) 
Repayment of borrowings               -      (30,000)      (6,500) 
Leasing liabilities             (31,233)     (85,165)     (32,673) 
                           ------------                ---------- 
Net cash from financing 
 activities                     761,089      341,128    2,853,276 
                           ------------   ----------   ---------- 
 
Net increase/(decrease) 
 in cash and cash 
 equivalents                    114,669   (2,898,361)  (1,027,311) 
Net foreign exchange 
 difference                      18,835         (464)     118,276 
Cash and cash equivalents 
 at the beginning of the 
 period                         275,875    3,174,700    4,083,735 
                           ------------   ----------   ---------- 
Cash and cash equivalents 
 at the end of the 
 period                         409,379      275,875    3,174,700 
                           ------------   ----------   -- 

(MORE TO FOLLOW) Dow Jones Newswires

November 12, 2024 16:15 ET (21:15 GMT)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment