ELSIGHT LIMITED — Capital/Financing Update 2017

Jun 6, 2017

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- UPDATED PRO FORMA STATEMENT OF FINANCIAL POSITION

Elsight Limited (ACN 616 435 753) ( Company ) sets out below the updated pro-forma statement of financial position based on the actual funds raised under the Prospectus of $5,000,000 as follows:

		Company	Elsight Israel
		Audited as at	Audited as at	Subsequent	Pro forma Pro forma
		28-Feb-17	31-Dec-16	events	adjustments after Offer
	Notes	A$	A$	A$	A$ A$
CURRENT ASSETS
Cash and cash equivalents	2	151,345	9,687	499,900	3,796,565 4,457,497
Short term deposits		-	47,052	-	- 47,052
Trade and other receivables		5,924	109,327	-	- 115,251
Loan receivable	3	499,900	-	-	(499,900) -
Inventory		-	429,006	-	- 429,006
Other current assets		-	51,204	-	- 51,204
Pledged deposits		-	60,891	-	- 60,891
TOTAL CURRENT ASSETS		657,169	707,169	499,900	3,296,665 5,160,903
NON CURRENT ASSETS
Fixed assets		-	81,650	-	- 81,650
TOTAL NON CURRENT ASSETS		-	81,650	-	- 81,650
TOTAL ASSETS		657,169	788,818	499,900	3,296,665 5,242,552
CURRENT LIABILITIES
Loans and credit from banks		-	152,228	-	- 152,228
Trade payables		59,276	466,371	-	- 525,647
Other payables	4	-	1,069,748	499,900	(1,122,651) 446,997
Convertible loans	5	700,000	923,056	-	(1,623,056) -
TOTAL CURRENT LIABILITIES		759,276	2,611,403	499,900	(2,745,707) 1,124,873
NON CURRENT LIABILITIES
Employee provisions		-	49,820	-	- 49,820
Loans from banks		-	89,953	-	- 89,953
TOTAL NON CURRENT LIABILITIES		-	139,773	-	- 139,773
TOTAL LIABILITIES		759,276	2,751,176	499,900	(2,745,707) 1,264,646
NET ASSETS		(102,107)	(1,962,358)	-	6,042,372 3,977,907
EQUITY
Contributed equity	6	1	6,919	-	6,529,796 6,536,716
Reserves	7	-	44,285	-	1,696,973 1,741,258
Accumulated losses	8	(102,108)	(2,013,562)	-	(2,184,397) (4,300,067)
TOTAL EQUITY		(102,107)	(1,962,358)	-	6,042,372 3,977,907

Elsight Israel balances have been converted at an exchange rate of A$1:US$0.7226

The above table is a statement of current intentions as of the date of this announcement. As with any budget, intervening events and new circumstances have the potential to affect the manner in which the funds are ultimately applied. The Board reserves the right to alter the way funds are applied on this basis.

For and on behalf of Elsight Limited

Stephen Buckley Company Secretary

Elsight Limited ACN 616 435 753

T: +61 8 6189 1155 | A: C/- Platinum Corporate Secretariat, Level 2, 46-50 Kings Park Road, West Perth WA 6005