JAYRIDE GROUP LIMITED — Annual Report 2018

Aug 29, 2018

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PRELIMINARY FINAL REPORT AND APPENDIX 4E For the FY18 financial year ended 30 June 2018

Lodged with the ASX under listing Rule 4.3A. Jayride Group Limited ABN 49 155 285 528

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Jayride Group Limited Appendix 4E Preliminary final report

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1. Company details

Name of entity: Jayride Group Limited ABN: 49 155 285 528 Reporting period: For the year ended 30 June 2018 Previous period: For the year ended 30 June 2017

2. Results for announcement to the market

				$
Revenue from commissions and fees booked	up	109.2%	to	2,315,659
Total earnings from ordinary activities	up	110.5%	to	2,451,060
Loss from ordinary activities after tax attributable to the owners of
Jayride Group Limited	up	150.9%	to	(5,762,692)
Loss for the year attributable to the owners of Jayride Group Limited	up	150.9%	to	(5,762,692)

Dividends

There were no dividends paid, recommended or declared during the current financial period.

Comments

The loss for the Company after providing for income tax amounted to $5,762,692 (30 June 2017: $2,296,594). Commentary on the results for the period is included in the Investor Presentation attached.

3. Net tangible assets

Net tangible assets per ordinary security	Reporting period Cents 8.09	Previous period Cents 1.56

4. Control gained over entities

Not applicable.

5. Loss of control over entities

Not applicable.

6. Dividends

Current period

There were no dividends paid, recommended or declared during the current financial period.

Previous period

There were no dividends paid, recommended or declared during the previous financial period.

Jayride Group Limited Appendix 4E Preliminary final report

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7. Dividend reinvestment plans

Not applicable.

8. Details of associates and joint venture entities

Not applicable.

9. Foreign entities

Details of origin of accounting standards used in compiling the report:

Not applicable.

10. Audit qualification or review

Details of audit/review dispute or qualification (if any):

The financial statements are in the process of being audited and an unqualified opinion is expected to be issued.

11. Attachments

Details of attachments (if any):

The Preliminary Financial Report of Jayride Group Limited for the year ended 30 June 2018 is attached.

12. Signed

Signed _________

Date: 29 August 2018

Rod Bishop Managing Director Sydney

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Jayride Group Limited

(Formerly known as Jayride Technology Pty Ltd)

ABN 49 155 285 528

Preliminary Financial Report - 30 June 2018

Jayride Group Limited Contents 30 June 2018 Statement of profit or loss and other comprehensive income 2 Statement of financial position 3 Statement of changes in equity 4 Statement of cash flows 5 Notes to the financial statements 6

1

Jayride Group Limited Statement of profit or loss and other comprehensive income For the year ended 30 June 2018

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Note Revenue and other income Commission and fees booked Refunded commission and fees booked Other income Total income Advertising and marketing costs Advertising and marketing costs Operational costs Employee and contractor costs Other operational costs Total operational costs Corporate costs Corporate costs Growth costs Engineering costs not capitalised Employee and contractor costs Share-based payments expense Other growth costs Total growth costs not capitalised Other costs Depreciation and amortisation Currency movements Interest expense Total other costs Total operating costs Loss before income tax expense Income tax expense Loss after income tax expense for the year attributable to the owners of Jayride Group Limited Other comprehensive income for the year, net of tax Total comprehensive income for the year attributable to the owners of Jayride Group Limited Basic earnings per share 7 Diluted earnings per share 7	2018 $ 2,315,659 (402,115) 537,516	2017 $ 1,107,114 (184,302) 241,445 1,164,257 (845,270) (573,892) (522,528) (1,096,420) - (130,976) (959,522) (180,770) (158,224) (1,429,492) (13,526) (2,836) (73,307) (89,669) (3,460,851) (2,296,594) - (2,296,594) - (2,296,594) Cents (5.12) (5.12)
	2,451,060
	(1,413,195)
	(989,557) (943,573)
	(1,933,130)
	(432,046)
	(239,040) (1,924,840) (1,162,198) (570,348)
	(3,896,426)
	(515,021) (18,139) (5,795)
	(538,955)
	(8,213,752)
	(5,762,692) -
	(5,762,692) -
	(5,762,692)
	Cents (8.41) (8.41)

The above statement of profit or loss and other comprehensive income should be read in conjunction with the accompanying notes

2

Jayride Group Limited Statement of financial position As at 30 June 2018

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Note Assets Current assets Cash and cash equivalents Trade and other receivables 1 Goods and services tax receivable Research and development receivable Prepayments Total current assets Non-current assets Deposits and bank guarantees Plant and equipment 2 Capitalised technology costs 3 Total non-current assets Total assets Liabilities Current liabilities Trade and other payables 4 Short-term loan 5 Employee benefits Future transport payments Total current liabilities Non-current liabilities Convertible notes - liability component Employee benefits Total non-current liabilities Total liabilities Net assets Equity Issued capital 6 Convertible notes reserve - equity component Share-based payments reserve Accumulated losses Total equity	2018 $ 3,560,216 628,080 31,877 853,544 74,956	2017 $ 767,190 264,388 15,338 355,640 -
	5,148,673	1,402,556
	323,890 211,785 2,201,726	37,530 65,381 2,080,461
	2,737,401	2,183,372
	7,886,074	3,585,928
	1,092,134 - 140,278 498,834	759,482 424,728 88,057 358,873
	1,731,246	1,631,140
	- 44,530	1,235,385 17,846
	44,530	1,253,231
	1,775,776	2,884,371
	6,110,298	701,557
	15,902,025 - 1,724,634 (11,516,361)	5,694,278 168,400 592,548 (5,753,669)
	6,110,298	701,557

The above statement of financial position should be read in conjunction with the accompanying notes

3

Jayride Group Limited Statement of changes in equity

For the year ended 30 June 2018

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Balance at 1 July 2016 Loss after income tax expense for the year Other comprehensive income for the year, net of tax Total comprehensive income for the year Transactions with owners in their capacity as owners: Share-based payments Convertible notes - equity component Balance at 30 June 2017 Balance at 1 July 2017 Loss after income tax expense for the year Other comprehensive income for the year, net of tax Total comprehensive income for the year Transactions with owners in their capacity as owners: Contributions of equity, net of transaction costs (note 6) Share-based payments Convertible notes issued Balance at 30 June 2018	Issued capital $ 5,694,278 - -	Convertible notes reserve $ - - -	Share-based payments reserve $ 411,778 - -	Accumulated losses $ (3,457,075) (2,296,594) -	Total equity $ 2,648,981 (2,296,594) - (2,296,594) 180,770 168,400 701,557 Total equity $ 701,557 (5,762,692) - (5,762,692) 10,207,747 1,132,086 (168,400) 6,110,298
	- - -	- - 168,400	- 180,770 -	(2,296,594) - -
	5,694,278	168,400	592,548	(5,753,669)
	Issued capital $ 5,694,278 - -	Convertible notes reserve $ 168,400 - -	Share-based payments reserve $ 592,548 - -	Accumulated losses $ (5,753,669) (5,762,692) -
	- 10,207,747 - -	- - - (168,400)	- - 1,132,086 -	(5,762,692) - - -
	15,902,025	-	1,724,634	(11,516,361)

The above statement of changes in equity should be read in conjunction with the accompanying notes

4

Jayride Group Limited Statement of cash flows For the year ended 30 June 2018

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Cash flows from operating activities Receipts from customers (inclusive of GST) Payments to suppliers and employees (inclusive of GST) Grants received Interest received Interest and other finance costs paid Net cash used in operating activities Cash flows from investing activities Payments for property, plant and equipment Payments for intangibles Payments for security deposits Proceeds from release of security deposits Net cash used in investing activities Cash flows from financing activities Proceeds from issue of shares Share issue transaction costs Loans from/(to) related parties Movements in equity - other Net cash from financing activities Net increase in cash and cash equivalents Cash and cash equivalents at the beginning of the financial year Effects of exchange rate changes on cash and cash equivalents Cash and cash equivalents at the end of the financial year	2018 $ 1,991,342 (6,490,066) 521,891 93,741 (5,795)	2017 $ 1,082,938 (2,727,903) 101,082 166,448 (73,307) (1,450,742) (29,022) (305,519) - 29,119 (305,422) - - 1,660,113 168,400 1,828,513 72,349 692,037 2,804 767,190
	(3,888,887)
	(191,713) (1,166,996) (286,360) -
	(1,645,069)
	10,533,104 (355,470) (1,660,113) (168,400)
	8,349,121
	2,815,165 767,190 (22,139)
	3,560,216

The above statement of cash flows should be read in conjunction with the accompanying notes

5

Jayride Group Limited Notes to the financial statements 30 June 2018

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Note 1. Current assets - trade and other receivables

Trade receivables Less: Provision for impairment of receivables	2018 $ 686,009 (57,929)	2017 $ 279,477 (15,089)
	628,080	264,388

Note 2. Non-current assets - plant and equipment

Fixtures and fittings - at cost Less: Accumulated depreciation Computer equipment - at cost Less: Accumulated depreciation Office equipment - at cost Less: Accumulated depreciation	2018 $ 129,036 (11,203)	2017 $ 17,483 (1,595)
	117,833	15,888
	146,301 (54,285)	70,158 (20,813)
	92,016	49,345
	2,646 (710)	165 (17)
	1,936	148
	211,785	65,381

Reconciliations

Reconciliations of the written down values at the beginning and end of the current and previous financial year are set out below:

Balance at 1 July 2016 Additions Depreciation expense Balance at 30 June 2017 Additions Depreciation expense Balance at 30 June 2018	Fixtures and fittings $ 11,831 5,459 (1,402)	Computer equipment $ 38,054 23,398 (12,107)	Office equipment $ - 165 (17)	Total $ 49,885 29,022 (13,526)
	15,888 111,553 (9,608)	49,345 77,679 (35,008)	148 2,481 (693)	65,381 191,713 (45,309)
	117,833	92,016	1,936	211,785

Note 3. Non-current assets - capitalised technology costs

Capitalised technology costs Less: Accumulated amortisation	2018 $ 2,671,438 (469,712)	2017 $ 2,080,461 -
	2,201,726	2,080,461

6

Jayride Group Limited Notes to the financial statements 30 June 2018

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Note 3. Non-current assets - capitalised technology costs (continued)

Reconciliations

Reconciliations of the written down values at the beginning and end of the current and previous financial year are set out below:

Balance at 1 July 2016 Additions Research and development tax offset Balance at 30 June 2017 Additions Research and development tax offset Amortisation expense Balance at 30 June 2018	Capitalised technology costs $ 1,774,942 521,640 (216,121)
	2,080,461 1,076,313 (485,336) (469,712)
	2,201,726

Note 4. Current liabilities - trade and other payables

Trade payables Other payables	2018 $ 926,054 166,080	2017 $ 640,544 118,938
	1,092,134	759,482

Note 5. Current liabilities - short-term loan

Loan - Research and development advance Note 6. Equity - issued capital Ordinary shares - fully paid	2018 Shares 75,575,283	2017 Shares 44,870,772	2018 $ -	2017 $ 424,728
			2018 $ 15,902,025	2017 $ 5,694,278

Note 6. Equity - issued capital

7

Jayride Group Limited Notes to the financial statements 30 June 2018

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Note 6. Equity - issued capital (continued)

Movements in ordinary share capital

Details Date Shares Balance 1 July 2016 44,870,772 Balance 30 June 2017 44,870,772 Issue of shares to new investors 18 August 2017 4,463,292 Issue of shares to new investors 18 August 2017 18,119,904 Issue of shares to employees on exercise of Employee Options 18 December 2017 4,798,512 Issue of shares to promoters 21 December 2017 247,520 Issue of shares under Initial Public Offer 17 January 2018 3,000,000 Issue of shares to employees 28 May 2018 75,283 Share issue costs Balance 30 June 2018 75,575,283 Note 7. Earnings per share Loss after income tax attributable to the owners of Jayride Group Limited Weighted average number of ordinary shares used in calculating basic earnings per share Weighted average number of ordinary shares used in calculating diluted earnings per share Basic earnings per share Diluted earnings per share	Shares 44,870,772	Issue price $0.32 $0.42 $0.50 $0.50 $0.40 2018 $ (5,762,692)	$ 5,694,278 5,694,278 1,408,796 7,624,309 - 123,760 1,500,000 30,113 (479,231) 15,902,025 2017 $ (2,296,594) Number 44,870,772 44,870,772 Cents (5.12) (5.12)
	44,870,772 4,463,292 18,119,904 4,798,512 247,520 3,000,000 75,283
	75,575,283
		Number 68,541,091
		68,541,091
		Cents (8.41) (8.41)

16,334,738 (2017: 221,514) options have been excluded from the above calculation as their inclusion would be antidilutive.

8

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Jayride Group Limited

ACN 155 285 528

Suite 1101, Level 11 55 Clarence Street Sydney NSW 2000 Australia corporate@jayride.com http://www.jayride.com