FLEXIROAM LIMITED — Capital/Financing Update 2015

Jun 10, 2015

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UPDATED PROFORMA

Following the closure of Flexiroam Limited’s Replacement Prospectus dated 15[th] April 2015, the Company’s updated pro-forma statement of financial position is as follows.

FLEXIROAM LIMITEDSTATEMENT OF FINANCIAL POSITIONAS AT 31 MAY 2015	Audited Historical(1)ConsolidatedProforma
CURRENT ASSETSCash and cash equivalentsTrade receivablesDevelopment expenditureOther receivablesTOTAL CURRENT ASSETSNON-CURRENT ASSETSAvailable for sale assetsIntangible assetsIntellectual propertyPlant and equipmentTOTAL NON-CURRENT ASSETSCURRENT LIABILITIESTrade and other payablesTOTAL CURRENT LIABILITIESNON-CURRENT LIABILITIESDeferred taxLoans from related partiesLoans from shareholdersTOTAL NON-CURRENT LIABILITIESTOTAL LIABILITIESNET ASSETSEQUITYIssued capitalAccumulated lossesReservesTOTAL EQUITY	213,3758,994,253156,610158,610158,576158,57629,68030,530
	558,2419,341,969
	-117,000706,73321,029,75721,029,757706,73352,97452,974
	21,789,46421,906,464
	(6,847) (6,847)
	(6,847)(6,847)
	(917)(917)(175,248)-(1,344,539)- (1,520,704) (917)
	(1,527,551)(7,764)
	20,820,15431,240,669
	21,029,75731,447,272(219,136)(219,136)9,53312,533
	20,820,15431,240,669

(1) The historical balances represent the balances of Flexiroam Sdn Bhd which will be the accounting parent entity of Flexiroam Limited in future financial reporting periods.

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The Company’s updated proposed use of funds is as follows:

PROPOSED APPLICATION OF FUNDS RAISED	PROPOSED APPLICATION OF FUNDS RAISED
	Funds Raised$9,259,500
Expenses of the Offer	$945,740
Flexiroam Tracking System (FTS) – product development	$1,000,000
Flexiroam websites – product development and marketing	$900,000
Flexiroam Mobile App –product development, marketing anddistribution	$2,000,000
Flexiroam Roaming Device – technological advancement (researchand development)	$800,000
SIM Paste – technological advancement (research and development)	$700,000
International Expansion – Singapore, Thailand and Indonesia (if FullSubscription of the Offer is achieved, the Company also plans toexpand its operations into China, Hong Kong and India)	$1,998,930
Working Capital	$915,000
Funds Raised under the Replacement Prospectus	$9,259,500