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MEEKA METALS LIMITED — Interim / Quarterly Report 2004
Feb 26, 2004
65312_rns_2004-02-26_d8868303-4ff4-47a4-a2b1-bd0a6e6798f6.pdf
Interim / Quarterly Report
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Half Yearly Report
Introduced 01/01/2003
Name of entity
ABN
Half-year ended
INTEGRATED INVESTMENT GROUP LIMITED
23 080 939 135
31 December 2003
For announcement to the market
| SA'000 | ||||
|---|---|---|---|---|
| Revenues from ordinary activities (item 1.1) | Down | 36% | to | 776 |
| Loss from ordinary activities after tax attributable to members (item 1.22) |
Down | 81% | to | (636) |
| Loss from extraordinary items after tax attributable to members (item $ 2.5(d)\rangle$ |
gain (loss) of | |||
| Loss for the period attributable to members (item 1.11) | Down | 85% | to | (514) |
| Dividends (distributions) | Amount per security |
lFranked amountl per security |
||
| Final dividend (Preliminary final report only - item 15.4) | NIL e | NIL c | ||
| Interim dividend (Half yearly report only - item 15.6) | NIL ¢ | NIL ¢ | ||
| Previous corresponding period (Preliminary final report - item 15.5; half yearly report - item 15.7) |
NIL e | NIL c | ||
| +Record date for determining entitlements to the dividend, (in the case of a trust, distribution) (see item 15.2) |
N/A | |||
This half yearly report is to be read in conjunction with the most recent annual financial report.
7
Condensed consolidated statement of financial performance
| Current period - \$A'000 |
Previous corresponding period - \$A'000 |
|
|---|---|---|
| 1.1 Revenues from ordinary activities (see items 1.23 -1.25) | 776 | 1,217 |
| 1.2 Expenses from ordinary activities (see items 1.26 & 1.27) 1.3 Borrowing costs 1.4 Share of net profits (losses) of associates and joint venture entities (see item 16.7) |
(1, 342) (70) |
(4, 497) (75) (75) |
| 1.5 Loss from ordinary activities before tax | (636) | (3,430) |
| 1.6 Income tax on ordinary activities (see note 4) | ||
| 1.7 Loss from ordinary activities after tax | (636) | (3, 430) |
| 1.8 Profit (loss) from extraordinary items after tax (see item 2.5) | ||
| 1.9 Net loss | (636) | (3,430) |
| 1.10 Net (profit) / loss attributable to outside +equity interests | 122 | |
| 1.11 Net loss for the period attributable to members | (514) | (3, 430) |
| Non-owner transaction changes in equity | ||
| 1.12 Increase (decrease) in revaluation reserves 1.13 Net exchange differences recognised in equity 1.14 Other revenue, expense and initial adjustments recognised directly in equity (attach details) |
||
| 1.15 Initial adjustments from UIG transitional provisions 1.16 Total transactions and adjustments recognised directly in equity |
||
| (items 1.12 to 1.15) | ||
| 1.17 Total changes in equity not resulting from transactions with owners as owners |
(514) | (3, 430) |
| Earnings/(Loss) per security (EPS) | Current period ¢ | Previous corresponding period ¢ |
| 1.18 Basic EPS | (0.35) | (2.71) |
| 1.19 Diluted EPS | (0.35) | (2.71) |
Notes to the condensed consolidated statement of financial performance
| Profit (loss) from ordinary activities attributable to members |
Current period \$A'000 |
Previous corresponding period A\$'000 |
|---|---|---|
| 1.20 Loss from ordinary activities after tax (item 1.7) | (636) | (3,430) |
| 1.21 Less (plus) outside +equity interests | ||
| 1.22 Profit (loss) from ordinary activities after tax, attributable to members |
(636) | (3,430) |
| Revenue and expenses from ordinary activities (see note 15) |
Current period \$A'000 |
Previous corresponding period A\$'000 |
| 1.23 Revenue from sales or services | 219 | 1,161 |
| 1.24 interest revenue | 6 | ŧ |
| 1.25 Other relevant revenue | 550 | (20) |
| 1.26 Details of relevant expenses | ||
| Cost of goods sold Distribution costs |
(180) | (3) (319) |
| Marketing costs | (55) | (13) |
| Occupancy costs Administration expenses |
(6) (661) |
(72) (1,079) |
| Borrowing costs | (70) | (75) |
| Other expenses from ordinary activities | (250) | (96) |
| Goodwill written off Written down value of distribution business sold |
(188) | (2,498) (411) |
| 1.27 Depreciation and amortisation excluding amortisation of intangibles (see item 2.3) |
(2) | (6) |
| (637) | (3, 430) | |
| Capitalised outlays | ||
| 1.28 Interest costs capitalised in asset values | ||
| 1.29 Outlays capitalised in intangibles (unless arising from an +acquisition of a business) |
||
| Consolidated retained profits | Current period \$A'000 |
Previous corresponding period A\$'000 |
| 1.30 Accumulated losses at the beginning of the financial period | (18,785) | (15,697) |
| 1.31 Loss attributable to members (item 1.11) | (514) | (3, 430) |
| 1.32 Net transfers from (to) reserves (details if material) | ||
| 1.33 Net effect of changes in accounting policies | ||
| 1.34 Dividends and other equity distributions paid or payable | ||
| 1.35 Accumulated losses at end of financial period | (19, 299) | (19,127) |
Half Yearly Report
| Intangible and extraordinary items | Consolidated - current period \$A'000 | |||
|---|---|---|---|---|
| Before tax (a) | Related tax (b) | Related outside +equity interests ${C}$ |
Amount (after tax) attributable to members (d) |
|
| 2.1 Amortisation of goodwill | 188 | 188 | ||
| 2.2 Amortisation of other intangibles | ||||
| 2.3 Total amortisation of intangibles | 188 | ٠ | 188 | |
| 2.4 Extraordinary items (details) | ||||
| 2.5 Total extraordinary items | ٠ | |||
| Comparison of half year profits (Preliminary final report only) | Current period \$A'000 |
Previous corresponding period A\$'000 |
||
| 3.1 Consolidated loss from ordinary activities after tax attributable to members reported for the 1st half year (item 1.22 in the half yearly report) |
(636) | (3,430) | ||
| 3.2 Consolidated loss from ordinary activities after tax attributable to members for the 2nd half year |
Half Yearly Report
÷,
Condensed consolidated statement of financial position
| At end of | As shown in last | As in last half | |
|---|---|---|---|
| current period | annual report | yearly report | |
| \$A'000 | \$A'000 | \$A'000 | |
| Current assets | |||
| 4.1 Cash | 89 | 163 | 247 |
| 4.2 Receivables | 120 | 26 | |
| 4.3 Investments | 525 | 250 | $\sim$ |
| 4.4 Inventories | 9 | ||
| 4.5 Tax assets | |||
| 4.6 Other | 5 | 11 | 58 |
| 4.7 Total current assets | 748 | 424 | 331 |
| Non-current assets | |||
| 4.8 Receivables | 8 | 18 | |
| 4.9 Investments (equity accounted) 4.10 Other investments |
2,268 | 250 | 559 167 |
| 4.11 Inventories | ÷, | $\overline{\phantom{m}}$ | |
| 4.12 Exploration and evaluation expenditure capitalised (see para .71 of | |||
| AASB 1022) | ٠ | ٠ | |
| 4.13 Development properties (+mining entities) | |||
| 4.14 Other property, plant and equipment (net) | 465 | 51 | |
| 4.15 Intangibles (net) | $\overline{\phantom{m}}$ | $\blacksquare$ | |
| 4.16 Tax assets | |||
| 4.17 Other (provide details if material) | 8 | ||
| 4.18 Total non-current assets | 2,741 | 258 | 795 |
| 4.19 Total assets | 3,489 | 682 | 1,126 |
| Current liabilities | |||
| 4.20 Payables | 327 | 271 | 897 |
| 4.21 Interest bearing liabilities | 1,588 | 283 | 151 |
| 4.22 Tax liabilities | $\overline{\phantom{a}}$ | ||
| 4.23 Provisions exc. tax liabilities | 91 | 11 | 60 |
| 4.24 Other (provide details if material) | 62 | ||
| 4.25 Total current liabilities | 2,068 | 565 | 1,108 |
| Non-current liabilities 4.26 Payables |
1,783 | ||
| 4.27 Interest bearing liabilities | 291 | 1,500 | 58 2,463 |
| 4.28 Tax liabilities | |||
| 4.29 Provisions exc. tax liabilities | |||
| 4.30 Other (provide details if material) | |||
| 4.31 Total non-current liabilities | 2,074 | 1,500 | 2,521 |
Condensed consolidated statement of financial position continued
| At end of current period \$A'000 |
As shown in last annual report \$A'000 |
As in last half yearly report \$A'000 |
|
|---|---|---|---|
| 4.32 Total liabilities | 4,142 | 2,065 | 3,629 |
| 4.33 Net assets | (653) | (1, 383) | (2,503) |
| Equity | |||
| 4.34 Capital/contributed equity 4.35 Reserves |
18,729 | 17,402 | 16,624 |
| 4.36 Accumulated losses | (19, 301) | (18, 785) | (19, 127) |
| 4.37 Equity attributable to members of the parent entity 4.38 Outside +equity interests in controlled entities |
(572) (80) |
(1, 383) | (2,503) |
| 4.39 Total equity | (652) | (1, 383) | (2,503) |
| 4.40 Preference capital included as part of 4.37 |
Half Yearly Report
Notes to the condensed consolidated statement of financial position
Exploration and evaluation expenditure capitalised
(To be completed only by entities with mining interests if amounts are material. Include all expenditure incurred.)
| Current period SA'000 |
Previous corresponding period A\$'000 |
|
|---|---|---|
| 5.1 Opening balance | ||
| 5.2 Expenditure incurred during current period | ||
| 5.3 Expenditure written off during current period | ||
| 5.4 Acquisitions, disposals, revaluation increments, etc. | ||
| 5.5 Expenditure transferred to Development Properties | ||
| 5.6 Closing balance as shown in the consolidated balance sheet | ||
| (item $4.12$ ) | $\ddot{\phantom{0}}$ |
Development properties
(To be completed only by entities with mining interests if amounts are material)
| Current period \$A'000 |
Previous corresponding period A\$'000 |
|
|---|---|---|
| 6.1 Opening balance | ||
| 6.2 Expenditure incurred during current period | ||
| 6.3 Expenditure transferred from exploration and evaluation | ||
| 6.4 Expenditure written off during current period | ||
| 6.5 Acquisitions, disposals, revaluation increments, etc. | ||
| 6.6 Expenditure transferred to mine properties | ||
| 6.7 Closing balance as shown in the consolidated balance sheet | ||
| $($ item 4.13 $)$ |
Condensed consolidated statement of cash flows
| Current period \$A'000 |
Previous corresponding period A\$'000 |
|
|---|---|---|
| Cash flows related to operating activities | ||
| 7.1 Receipts from customers | 199 | 1,292 |
| 7.2 Payments to suppliers and employees | (913) | (1,781) |
| 7.3 Dividends received from associates | 22 | |
| 7.4 Other dividends received | ||
| 7.5 Interest and other items of similar nature received | 6 | |
| 7.6 Interest and other costs of finance paid | (15) | (65) |
| 7.7 Income taxes paid | ||
| 7.8 Other (provide details if material) | 111 | |
| 7.9 Net operating cash flows | (612) | (531) |
| Cash flows related to investing activities | ||
| 7.10 Payment for purchases of property, plant and equipment | (156) | (6) |
| 7.11 Proceeds from sale of property, plant and equipment | 511 | |
| 7.12 Payment for purchases of equity investments | (775) | |
| 7.13 Proceeds from sale of equity investments | 549 | |
| 7.14 Loans to other entities | (69) | |
| 7.15 Loans repaid by other entities | 50 | |
| 7.16 Other (Cash balances of controlled entities). | (17) | |
| 7.17 Net investing cash flows | (418) | 505 |
| Cash flows related to financing activities | ||
| 7.18 Proceeds from issues of +securities (shares, options, etc.) | 3 | |
| 7.19 Proceeds from borrowings | 958 | 58 |
| 7.20 Repayment of borrowings | (2) | (279) |
| 7.21 Dividends paid | ||
| 7.22 Other (provide details if material) | ||
| 7.23 Net financing cash flows | 956 | (218) |
| 7.24 Net increase (decrease) in cash held | (74) | (244) |
| 7.25 Cash at beginning of period (see Reconciliation of cash) | 163 | 491 |
| 7.26 Exchange rate adjustments to item 7.25. | ||
| 7.27 Cash at end of period (see Reconciliation of cash) | 89 | 247 |
Non-cash financing and investing activities
Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve
cash flows are as follows. (If an amount is quantified, show comparative amount.)
NIL
Reconciliation of cash
| Reconciliation of cash at the end of the period (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows. |
Current period \$A'000 |
Previous corresponding period A\$'000 |
|---|---|---|
| 8.1 Cash on hand and at bank | 89 | 247 |
| 8.2 Deposits at call | ||
| 8.3 Bank overdraft | ||
| 8.4 Other (provide details) | ||
| 8.5 Total cash at end of period (item 7.27) | 89 | 247 |
Half Yearly Report
Other notes to the condensed financial statements
| Ratios | Current period | Previous corresponding period |
|---|---|---|
| Profit before tax / revenue (%) 9.1 Consolidated profit (loss) from ordinary activities before tax (item 1.5) as a percentage of revenue (item 1.1) |
(82) | (282) |
| Profit after tax / $\star$ equity interests (%) | 90 | 137 |
| 9.2 Consolidated net profit (foss) from ordinary activities after (ax attributable to members (item 1.11) as a percentage of equity (similarly attributable) at the end of the period (item 4.37 |
||
| Earnings per security (EPS) (cents) | (0.35) | (2.71) |
| 10 Details of basic and diluted EPS reported separately in accordance with paragraph 9 and 18 of AASB 1027: Earnings Per Share are as follows: |
||
|---|---|---|
| Earnings (A\$'000) | (3.430) | |
| Weighted average number of ordinary shares for the period | 147.627.158 | 126.355.793 |
| NTA backing (see note 7) | Current period | Previous corresponding period |
|---|---|---|
| 11.1 Net tangible asset backing per +ordinary security | (0.004) | (0.020) |
Discontinuing Operations
(Entities must report a description of any significant activities or events relating to discontinuing operations in accordance with paragraph
7.5 (g) of AASB 1029: Interim Financial Reporting, or, the details of discontinu
12.1 Discontinuing Operations
None
Half Yearly Report
| Control gained over entities having material effect | ||
|---|---|---|
| 13.1 Name of entity (or group of entities) | All Australian Adventures Pty Ltd and Controlled entities |
|
| 13.2 Consolidated profit (loss) from ordinary activities and extraordinary items after tax of the controlled entity (or group of entities) since the date in the current period on which control was +acquired |
(304) | |
| 13.3 Date from which such profit has been calculated | 7 July 2003 | |
| 13.4 Profit (loss) from ordinary activities and extraordinary items after tax of the controlled entity (or group of entities) for the whole of the previous corresponding period |
NIL | |
| Loss of control of entities having material effect | ||
| 14.1 Name of entity (or group of entities) | NONE | |
| 14.2 Profit (loss) from ordinary activities and extraordinary items after tax of the controlled entity (or group of entities) for the current period to the date of loss of control |
N/A | |
| 14.3 Date to which the profit (loss) in item 14.2 has been calculated | N/A | |
| 14.4 Profit (loss) from ordinary activities and extraordinary items after tax of the controlled entity (or group of entities) while controlled during the whole of the previous corresponding period |
N/A | |
| 14.5 Contribution to consolidated profit (loss) from ordinary activities and extraordinary items from sale of interest leading to loss of control |
NIL |
Half Yearly Report
$N/A$
N/A
$N/A$
Dividends (in the case of a trust, distributions)
15.1 Date the dividend (distribution) is payable
15.2 +Record date to determine entitlements to the dividend (distribution) (ie, on the basis of proper instruments of transfer received by 5.00 pm if +securities are not +CHESS approved, or security holding balances established by 5.00 pm or such later time permitted by SCH Business Rules if +securities are +CHESS approved)
15.3 If it is a final dividend, has it been declared? (Preliminary final report $only$
Amount per security
| Amount per security |
Franked amount per security at % tax (see note 4) |
Amount per security of foreign source dividend |
|
|---|---|---|---|
| (Preliminary final report only) | |||
| 15.4 Final dividend: Current year | NIL ¢ | NIL ¢ | $NIL$ $\phi$ |
| 15.5 Previous year |
NIL ¢ | NIL ¢ | NIL ¢ |
| (Half yearly and preliminary final reports) | |||
| 15.6 Interim dividend: Current year | NIL ¢ | NIL ¢ | NIL ¢ |
| 15.7 Previous year |
NIL ¢ | NIL ¢ | NIL ¢ |
Total dividend (distribution) per security (interim plus final)
(Preliminary final report only)
| Current year | Previous year | |
|---|---|---|
| 15.8 Ordinary +securities | NIL ¢ | NIL ¢I |
| 15.9 Preference +securities | NIL ¢ | NIL el |
Half yearly report - interim dividend (distribution) on all securities or Preliminary final report - final dividend (distribution) on all securities
| Current period \$A'000 |
Previous corresponding period A\$'000 |
|
|---|---|---|
| 15.10 +Ordinary securities (each class separately) | NIL | NIL |
| 15.11 Preference +securities (each class separately) | NIL | NIL |
| 15.12 Other equity instruments (each class separately) | NIL | NIL |
| 15.13 Total | NIL | NIL. |
The +dividend or distribution plans shown below are in operation.
| NIL | ||
|---|---|---|
| The last date(s) for receipt of election notices for the +dividend or distribution plans | N/A |
Any other disclosures in relation to dividends (distributions). (For half yearly reports, provide details in accordance with paragraph 7.5(d) of AASB 1029 Interim Financial Reporting)
APPENDIX 4D Half Yearly Report
Details of aggregate share of profits (losses) of associates and joint venture entities
| Group's share of associates' and joint venture entities': | Current period \$A'000 |
Previous corresponding period A\$'000 |
|---|---|---|
| 16.1 Profit (loss) from ordinary activities before tax 16.2 Income tax on ordinary activities |
||
| 16.3 Profit (loss) from ordinary activities after tax | ||
| 16.4 Extraordinary items net of tax | ||
| 16.5 Net profit (loss) | ||
| 16.6 Adjustments | ||
| 16.7 Share of net profit (loss) of associates and joint venture entities |
Material interests in entities which are not controlled entities
The economic entity has an interest (that is material to it) in the following entities. (If the interest was acquired or disposed of during either the current or previous corresponding period, indicate date of acquisition
| Name of entity | Percentage of ownership interest held at end of period or date of disposal |
Contribution to net profit (loss) $($ item $1.9)$ |
||
|---|---|---|---|---|
| 17.1 Equity accounted associates and joint venture entities | Current period | Previous corresponding period |
Current period - SA'000 |
Previous corresponding period - \$A'000 |
| 17.2 Total | NIL | NIL | NIL | NIL. |
| 17.3 Other material interests | ||||
| 17.4 Total | NIL | NIL | NIL | NIL |
Issued and quoted securities at end of current period
(Description must include rate of interest and any redemption or conversion rights fogether with prices and dates)
| Category of +securities | Total number | Number quoted | Issue price per security (see note 14) (cents) |
Amount paid up per security (see note 14) (cents) |
|---|---|---|---|---|
| 18.1 Preference +securities (description) | NIL | NIL | NIL | NIL |
| 18.2 Changes during current period (a) Increases through issues (b) Decreases through returns of capital, buybacks, redemptions |
NIL NIL |
NIL NIL |
NIL NIL |
NIL NIL |
| 18.3 Ordinary securities | 261,644,806 | 261,644,806 | ||
| 18.4 Changes during current period (a) Increases through issues (b) Decreases through returns of capital, buybacks |
132,748,400 NIL |
132,748,400 NIL |
Fully Paid NIL |
Fully Paid NIL |
| 18.5 +Convertible debt securities (description and conversion factor) | 1,500,000 | NIL | 10 Cents | NIL |
| 18.6 Changes during current period (a) Increases through issues (b) Decreases through securities matured, converted |
NIL NIL |
NIL NIL |
NIL NIL |
NIL NIL |
| 18.7 Options (description and conversion factor) | NIL | NIL | Exercise price | Expiry date (if any) |
| NIL NIL |
NIL NIL |
NIL NIL |
NIL | |
| 18.8 Issued during current period | NIL | NIL | NIL | NIL |
| 18.9 Exercised during current period | NIL | NIL | NIL | NIL |
| 18.10 Expired during current period | NIL | NIL | NIL | NIL |
| 18.11 Debentures (description) | ||||
| 18.12 Changes during current period (a) Increases through issues (b) Decreases through securities matured, converted |
NIL NIL |
NIL NIL |
NIL NIL |
NIL NIL |
| 18.13 Unsecured notes (description) | ||||
| 18.14 Changes during current period (a) Increases through issues (b) Decreases through securities matured, converted |
NIL NIL |
NIL NIL |
NIL NIL |
NIL NIL |
Segment reporting
(Information on the business and geographical segments of the entity must be reported for the current period in accordance with AASB 1005: Segment Reporting and for half year reports, AASB 1029: Interim Financial Reporting. Because entities employ different structures a pro forma cannot be provided. Segment information in the layout employed in the entity's +accounts should be reported separately and attached to this report.) See annexed segmental report.
Comments by directors
NONE
Basis of financial report preparation
19.1 This report is a half yearly report and is a general purpose financial report prepared in accordance with the listing rules and AASB 1029: Interim Financial Reporting. It should be read in conjunction with the last annual report and any announcements to the market made by the entity during the period. The financial statements in this report are "condensed financial statements" as defined in AASB 1029: Interim Financial Reporting. This report does not include all the notes of the type normally included in an annual financial report.
19.2 Material factors affecting the revenues and expenses of the economic entity for the current period. In a half yearly report, provide explanatory comments about any seasonal or irregular factors affecting operations.
NONE
19.3 A description of each event since the end of the current period which has had a material effect and which is not already reported elsewhere in this Appendix or in attachments, with financial effect quantified (if possible).
-IIG is proposing to issue a maximum of 261,644,806 shares by way of prospectus and partly underwritten by Synergene Technologies Limited, in order to increase its share in Photolibrary and fund other strategic investment initiatives. The time limit for this issue being 9 March 2004.
'-On 7 February 2004, IIG acquired an additional 20% in the issued share capital of All Australian Adventures Pty Ltd following a restructuring of AAA equity holders and a change in the management team. This brings the total investment in AAA to 80%.
19.4 Franking credits available and prospects for paying fully or partly franked dividends for at least the next year.
NONE
APPENDIX 4D Half Yearly Report
Appendix 4D Half yearly report Under Listing Rule 4.2A.3
19.5 Unless disclosed below, the accounting policies, estimation methods and measurement bases used in this report are the same as those used in the last annual report. Any changes in accounting policies, estimation methods and measurement bases since the last annual report are disclosed as follows. (Disclose changes and differences in the half yearly report in accordance with AASB 1029: Interim Financial Reporting. Disclose changes in accounting policies in the preliminary final report in accordance with AASB 1001: Accounting Policies-Disclosure).
No changes
19.6 Revisions in estimates of amounts reported in previous interim periods. For half yearly reports the nature and amount of revisions in estimates of amounts reported in previous +annual reports if those revisions have a material effect in this half year.
| NONE | |
|---|---|
| 19.7 Changes in contingent liabilities or assets. For half yearly reports, changes in contingent liabilities and contingent assets |
since the last $\epsilon$ annual report.
| No changes | |
|---|---|
Additional disclosure for trusts
20.1 Number of units held by the management company or responsible entity or their related parties.
20.2 A statement of the fees and commissions payable to the management company or responsible entity.
Identify: *initial service charges *management fees *other fees
Annual meeting
(Preliminary final report only)
| The annual meeting will be held as follows: | |
|---|---|
| Place | |
| Date |
Date Time
Approximate date the +annual report will be available
| N/A | |
|---|---|
| N/A | |
| N/A | |
| N/A |
N/A
NONE
Compliance statement
1 This report has been prepared in accordance with AASB Standards, other AASB authoritative pronouncements and Urgent Issues Group Consensus Views or other standards acceptable to ASX (see note 12).
Identify other standards used
NONE
2 This report, and the +accounts upon which the report is based (if separate), use the same accounting policies.
3 This report does/deee net* (delete one) give a true and fair view of the matters disclosed (see note 2).
4 This report is based on +accounts to which one of the following applies.
(Tick one) The +accounts have been audited. The +accounts have been subject to review. $\overline{\mathbf{x}}$ The +accounts are in the process of being audited or subject to review. The +accounts have not yet been audited or reviewed.
5 If the audit report or review by the auditor is not attached, details of any qualifications are attached / will follow immediately they are available* (delete one). (Half yearly report only - the audit report or review by the auditor must be attached to this report if this report is to satisfy the requirements of the Corporations Act.)
6 The entity has / does not have* (delete one) a formally constituted audit committee.
Date:
27 February 2004
Sign here: ................................... (Director / Company Secretary)
Print name: Mr Lyall Gorman
Integrated Investment Group Limited and Controlled Entities
ABN 23 080 939 135
SEGMENT REPORTING (Attachment to Appendix 4D Half-year report 31 December 2003)
Primary reporting - Business segments
| 2003 | |||||
|---|---|---|---|---|---|
| Licensing and Distribution |
Advisory | Travel | Other | Total | |
| Revenue from sales to external customers | 42 | 176 | 218 | ||
| Revenue from sales to other segments | |||||
| Total segment revenue | 42 | 176 | $\sim$ | 218 | |
| Unallocated revenue | 557 | 557 | |||
| Total revenue | 775 | ||||
| Depreciation and amortisation expense | (190) | (190) | |||
| Other expenses | (21) | (297) | (654) | (972) | |
| Unallocated expenses net of unallocated revenue | (250) | (250) | |||
| Segment result | 21 | (311) | (404) | (637) | |
| Loss from ordinary activities before income tax expense | (637) | ||||
| 2002 | |||||
| Licensing and Distribution |
Advisory | Travel | Other | Total | |
| Revenue from sales to external customers | 511 | 650 | (19) | 1,142 | |
| Revenue from sales to other segments | |||||
| Total segment revenue | 511 | 650 | ٠ | (19) | 1,142 |
| Depreciation and amortisation expense | (2,504) | ٠ | (2, 504) | ||
| Other expenses | (335) | (1,733) | (2,068) | ||
| Segment result | 176 | (3.587) | $\overline{\phantom{a}}$ | (19) | (3,430) |
| Loss from ordinary activities before income tax expense | (3,430) |
Independent review report to the members of Integrated Investment Group Limited and Controlled Entities
Scope
We have reviewed the financial report of Integrated Investment Group Limited and Controlled Entities for the half-year ended 31 December 2003 as set out on pages 1 to 11. The financial report includes the consolidated financial statements of the consolidated entity comprising the company and the entities it controlled at the end of the half-year or from time to time during the half-year. The company's directors are responsible for the financial report. We have performed an independent review of the financial report in order to state whether, on the basis of the procedures described, anything has come to our attention that would indicate that the financial report is not presented fairly in accordance with Accounting Standard AASB 1029: Interim Financial Reporting and other mandatory professional reporting requirements and statutory requirements, so as to present a view which is consistent with our understanding of the company's financial position, and performance as represented by the results of its operations and its cash flows, and in order for the company to lodge the financial report with the Australian Securities and Investments Commission/Australian Stock Exchange Limited.
Our review has been conducted in accordance with Australian Auditing Standards applicable to review engagements. A review is limited primarily to inquiries of company personnel and analytical procedures applied to the financial data. These procedures do not provide all the evidence that would be required in an audit, thus the level of assurance provided is less than given in an audit. We have not performed an audit and, accordingly, we do not express an audit opinion.
Statement
We draw your attention to note 1 which states that the accounts have been prepared on a going concern basis which contemplates the realisation of assets in the ordinary course of business and as stated in note 1 the company is dependent upon continued financial support from members and financiers.
Based on our review, which is not an audit, we have not become aware of any matter that makes us believe that the half-year financial report of Integrated Investment Group Limited and Controlled Entities is not in accordance with:
- the Corporations Act 2001, including: $\ddot{a}$ .
- ì. giving a true and fair view of the company's financial position at 31December 2003 and of its performance for the half-year ended on that date; and
- complying with Accounting Standard AASB 1029: Interim Financial Reporting and the ii. Corporations Regulations 2001; and
- other mandatory professional reporting requirements in Australia. h.
. . . . . . . . . . . . . . . . . . . .
BCS Advantage Pty Ltd
Jund M
David Lamb, CA- Partner Level 6, 68 Alfred Street Milsons Point, GPO Box 3789 Sydney NSW 2001
Date 27 February 2004