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EDEN INNOVATIONS LTD — Interim / Quarterly Report 2016
Mar 14, 2016
64820_rns_2016-03-14_2b8f3282-5860-41d4-940c-16e0e236296f.pdf
Interim / Quarterly Report
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ACN 109 200 900
Appendix 4D Half Year Ending 31 December 2015
1. The current reporting period is the half year ended 31 December 2015. The previous corresponding period is the half year ended 31 December 2014.
2. Results for announcement to the market:
| 31 December2015$000’s | 31 December2014$000’s | %Change | Up /Down | |
|---|---|---|---|---|
| 2.1Revenue from ordinary activities | 344 | 1,449 | 76.3 | Down |
| 2.2Loss from ordinary activitiesafter tax attributable to shareholders | (1,426) | (630) | 126.3 | Up |
| 2.3Loss for the half year attributableto shareholders | (1,426) | (630) | 126.3 | Up |
2.4 & 2.5 No dividends are proposed and no dividends were declared or paid during the current or prior period.
2.6 Revenues decreased due to reduced OptiBlend[TM] sales following a drop in oil prices compared to the previous corresponding period. The loss for the half year increased due to decreased revenues and additional expenses relating to the promotion and marketing of EdenCrete[TM] in the US, particularly in Colorado and Georgia. These costs include costs of engagement of a number of consultants particularly in Georgia and the expansion of the workforce in Colorado.
For the full review of operations please refer to the Half Year Accounts to 31 December 2015 released to market on 14 March 2016.
3. Net tangible assets per share
| Net tangible assets per share | ||
|---|---|---|
| 31 December2015 | 31 December2014 | |
| Net tangible* assets per share | -$0.0012 | -$0.0007 |
***** - This does not include any value for Eden’s investment in its pyrolysis technology, EdenCrete[TM] , Optiblend[TM] or Exploration and Development costs in relation to it 50% interest in 9 PEDLs in the UK as these are intangible assets.
Level 15, 197 St Georges Terrace, Perth, Western Australia 6000 Telephone: (08) 9282 5889 Facsimile: (08) 9282 5866 Email: [email protected]
4. Gain or loss of control over entities
Eden Energy Ltd did not gain or lose control over any entities during the period.
Subsequent to the end of the period, on 25 February 2016, the Company completed the sale of its subsidiary Adamo Energy (UK) Ltd in consideration for an earn out arrangement.
5. Dividends
No dividends are proposed and no dividends were declared or paid during the current or prior period.
6. Dividend Reinvestment Plans
The Company does not have a dividend reinvestment plan.
7. Details of associates/joint ventures
As at 31 December 2015 Eden Energy Ltd through its 100% subsidiary Adamo Energy (UK) Ltd had a 50% interest 9 PEDLs in the UK. A loss of $21,417 (2014: $78,178) was recorded in the consolidated statement profit or loss of Eden Energy Ltd.
Subsequent to the end of the period, on 25 February 2016, the Company completed the sale of its subsidiary Adamo Energy (UK) Ltd in consideration for an earn out arrangement.
8. Foreign Entities Accounting Standards
N/A
9. Status of review of accounts
The half year report is based on accounts which have been subject to an independent review and were announced to the market on 14 March 2016. The Eden Energy Ltd accounts are not subject to dispute or qualification.