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PHARMX TECHNOLOGIES LIMITED — Interim / Quarterly Report 2021
Apr 21, 2021
65560_rns_2021-04-21_1103fb7e-7dfd-45f4-bf8f-56232d91d479.pdf
Interim / Quarterly Report
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Corum Group Limited ABN 25 000 091 305 Level 3, 120 Sussex Street, Sydney NSW 2000 www.corumgroup.com.au
22 April 2021
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Market Release
ASX Announcement
Quarterly Activity Report and Appendix 4C 31 March 2021
Principal Activities
Corum Group Limited (ASX:COO) is a technology and software development company. The key business activities relate to Corum Health which develops and distributes business software for the pharmacy industry with emphasis on point-of-sale and pharmaceutical dispensing software, multi-site retail management, support services and computer hardware. Corum Health now also includes PharmX, an electronic gateway that links pharmacies, pharmaceutical wholesalers and direct suppliers within the pharmacy market. Corum eCommerce operates a payment gateway primarily for the real estate and pharmacy sectors.
Key Activities during the March 2021 Quarter
Quarter review
Development has continued on the new cloud-based Head Office system, Corum Clear Enterprise, during the quarter and this is now progressing towards pilot stage. Enhancements have also continued on Corum Clear Dispense and it continues to gain market traction. Additionally we have focused on improving the efficiencies of our back-office technologies and processes. This has focused on our support and deployment teams.
Further development work on the PharmX platform has also continued this quarter. Additional technology, security and integration upgrades are being rolled out and further developments to improve invoice processing and enhance throughput capabilities have been undertaken. All enhancements and development upgrades continue to be undertaken with no platform down-time.
Corum recorded a positive operating cash flow of $562,000 for the quarter. This is an increase of $26,000 compared to the prior quarter.
Corum ended the quarter with a cash balance of $7.1 million.
Payments to related parties of the entity and their associates
During the quarter, $171,000 was paid in fees and salaries to Directors, Key Management Personnel and their related entities.
- ENDS -
This notice has been authorised for release to the ASX by the Board of the Company.
For further information contact:
Julian Sallabank, Managing Director
Investor email: [email protected]
About Corum Group
Corum Group Limited [ASX:COO] (Corum) is an Australian company limited by shares that owns businesses in technology and software development.
For more than 30 years Corum has been using its deep industry expertise and extensive relationships to develop PointOf-Sale, Dispensing and Management software for pharmacy head offices and retail stores and a range of eCommerce and ordering solutions throughout Australia.
Corum is determined to offer the best solutions to its customers through the products, services and processes of each of its businesses.
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Corum Group | Corum Health | Corum eCommerce | PharmX corumgroup.com.au
Sydney | Melbourne | Perth | Brisbane | Adelaide
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Rule 4.7B
Appendix 4C
Quarterly cash flow report for entities subject to Listing Rule 4.7B
Name of entity
Corum Group Limited
| ABN | Quarter ended (“current quarter”) | Quarter ended (“current quarter”) | |
|---|---|---|---|
| 25 000 091 305 | 31 March 2021 | ||
| Consolidated statement of cash flows | Current quarter | Year to date (9 | |
| $A’000 | months) | ||
| $A’000 | |||
| 1. | Cash flows from operating activities | ||
| 1.1 | Receipts from customers | 3,688 | 10,288 |
| 1.2 | Payments for | ||
| (a) research and development | - | - | |
| (b) product manufacturing and operating | (613) | (1,817) | |
| costs | |||
| (c) advertising and marketing | (77) | (155) | |
| (d) leased assets | - | - | |
| (e) staff costs | (1,808) | (5,390) | |
| (f) administration and corporate costs |
(431) | (1,145) | |
| 1.3 | Dividends received (see note 3) | - | - |
| 1.4 | Interest received | 9 | 25 |
| 1.5 | Interest and other costs of finance paid | - | - |
| 1.6 | Income taxes paid | - | (272) |
| 1.7 | Government grants and tax incentives | - | 1,973 |
| 1.8 | Other (provide details if material) | (206) | (686) |
| 1.9 | Net cash from / (used in) operating | 562 | 2,821 |
| activities | |||
| 2. | Cash flows from investing activities | ||
| 2.1 | Payments to acquire or for: | ||
| (a) entities | - | - | |
| (b) businesses | - | - | |
| (c) property, plant and equipment | (77) | (255) | |
| (d) investments | - | (8,072) | |
| (e) intellectual property | (887) | (2,986) | |
| (f) other non-current assets |
(8) | (8) |
ASX Listing Rules Appendix 4C (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.
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Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B
| Consolidated statement of cash flows | Consolidated statement of cash flows | Current quarter | Year to date (9 |
|---|---|---|---|
| $A’000 | months) | ||
| $A’000 | |||
| 2.2 | Proceeds from disposal of: | ||
| (a) entities | - | - | |
| (b) businesses | - | - | |
| (c) property, plant and equipment | - | - | |
| (d) investments | - | - | |
| (e) intellectual property | - | - | |
| (f) other non-current assets |
- | - | |
| 2.3 | Cash flows from loans to other entities | - | - |
| 2.4 | Dividends received (see note 3) | - | - |
| 2.5 | Other (provide details if material) | - | 5,975 |
| 2.6 | Net cash from / (used in) investing | (972) | (5,346) |
| activities | |||
| 3. | Cash flows from financing activities | ||
| 3.1 | Proceeds from issues of equity securities | ||
| (excluding convertible debt securities) | - | 8,544 | |
| 3.2 | Proceeds from issue of convertible debt | - | - |
| securities | |||
| 3.3 | Proceeds from exercise of options | - | - |
| 3.4 | Transaction costs related to issues of | - | - |
| equity securities or convertible debt | |||
| securities | |||
| 3.5 | Proceeds from borrowings | - | - |
| 3.6 | Repayment of borrowings | - | - |
| 3.7 | Transaction costs related to loans and | - | - |
| borrowings | |||
| 3.8 | Dividends paid | - | (896) |
| 3.9 | Other (provide details if material) | (118) | (351) |
| 3.10 | Net cash from / (used in) financing | (118) | 7,297 |
| activities | |||
| 4. | Net increase / (decrease) in cash and | ||
| cash equivalents for the period | |||
| 4.1 | Cash and cash equivalents at beginning of | ||
| period | 7,623 | 2,323 | |
| 4.2 | Net cash from / (used in) operating | 562 | 2,821 |
| activities (item 1.9 above) | |||
| 4.3 | Net cash from / (used in) investing activities | (972) | (5,346) |
| (item 2.6 above) |
ASX Listing Rules Appendix 4C (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.
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Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B
| Consolidated statement of cash flows | Consolidated statement of cash flows | Current quarter | Year to date (9 |
|---|---|---|---|
| $A’000 | months) | ||
| $A’000 | |||
| 4.4 | Net cash from / (used in) financing activities | (118) | 7,297 |
| (item 3.10 above) | |||
| 4.5 | Effect of movement in exchange rates on | - | - |
| cash held | |||
| 4.6 | Cash and cash equivalents at end of | 7,095 | 7,095 |
| period | |||
| 5. | Reconciliation of cash and cash | Current quarter | Previous quarter |
| equivalents | $A’000 | $A’000 | |
| at the end of the quarter (as shown in the | |||
| consolidated statement of cash flows) to the | |||
| related items in the accounts | |||
| 5.1 | Bank balances | 482 | 666 |
| 5.2 | Call deposits | 6,613 | 6,957 |
| 5.3 | Bank overdrafts | - | - |
| 5.4 | Other (provide details) | - | - |
| 5.5 | Cash and cash equivalents at end of | 7,095 | 7,623 |
| quarter (should equal item 4.6 above) | |||
| 6. | Payments to related parties of the entity and their | Current quarter | |
| associates | $A'000 | ||
| 6.1 | Aggregate amount of payments to related parties and their | 171 | |
| associates included in item 1 | |||
| 6.2 | Aggregate amount of payments to related parties and their | - | |
| associates included in item 2 | |||
| Note: if any amounts are shown in items 6.1 or 6.2, your quarterly | activity report must include a | description of, and an | |
| explanation for, such payments. |
ASX Listing Rules Appendix 4C (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.
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Appendix 4C
Quarterly cash flow report for entities subject to Listing Rule 4.7B
| 7. | Financing facilities | Total facility | Amount drawn at |
|---|---|---|---|
| Note: the term “facility’ includes all forms of financing arrangements available to the entity. Add notes as necessary for an understanding of the sources of finance available to the entity. |
amount at quarter end $A’000 |
quarter end $A’000 |
|
| 7.1 | Loan facilities | - | - |
| 7.2 | Credit standby arrangements | - | - |
| 7.3 | Other (please specify) | - | - |
| 7.4 | Total financing facilities | - | - |
| 7.5 | Unused financing facilities available at quarter end | N/A |
- 7.6 Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or unsecured. If any additional financing facilities have been entered into or are proposed to be entered into after quarter end, include a note providing details of those facilities as well.
N/A
| 8. | Estimated cash available for future operating activities | $A’000 | |
|---|---|---|---|
| 8.1 | Net cash from / (used in) operating activities (item 1.9) | 562 | |
| 8.2 | Cash and cash equivalents at quarter end (item 4.6) | 7,095 | |
| 8.3 | Unused finance facilities available at quarter end (item 7.5) | - | |
| 8.4 | Total available funding (item 8.2 + item 8.3) | 7,095 | |
| 8.5 | Estimated quarters of funding available (item 8.4 divided by item 8.1) |
N/A |
Note: if the entity has reported positive net operating cash flows in item 1.9, answer item 8.5 as “N/A”. Otherwise, a figure for the estimated quarters of funding available must be included in item 8.5.
-
8.6 If item 8.5 is less than 2 quarters, please provide answers to the following questions: 8.6.1 Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not?
-
Answer: N/A 8.6.2 Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful?
Answer: N/A
- 8.6.3 Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis?
Answer: N/A
Note: where item 8.5 is less than 2 quarters, all of questions 8.6.1, 8.6.2 and 8.6.3 above must be answered.
ASX Listing Rules Appendix 4C (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.
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Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B
Compliance statement
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1 This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A.
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2 This statement gives a true and fair view of the matters disclosed.
Date: ..............22 April 2021.....................................................................
Authorised by: ................By the board...................................................................
(Name of body or officer authorising release – see note 4)
Notes
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This quarterly cash flow report and the accompanying activity report provide a basis for informing the market about the entity’s activities for the past quarter, how they have been financed and the effect this has had on its cash position. An entity that wishes to disclose additional information over and above the minimum required under the Listing Rules is encouraged to do so.
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If this quarterly cash flow report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 107: Statement of Cash Flows apply to this report. If this quarterly cash flow report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standard applies to this report.
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Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity.
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If this report has been authorised for release to the market by your board of directors, you can insert here: “By the board”. If it has been authorised for release to the market by a committee of your board of directors, you can insert here: “By the [ name of board committee – eg Audit and Risk Committee ]”. If it has been authorised for release to the market by a disclosure committee, you can insert here: “By the Disclosure Committee”.
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If this report has been authorised for release to the market by your board of directors and you wish to hold yourself out as complying with recommendation 4.2 of the ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations , the board should have received a declaration from its CEO and CFO that, in their opinion, the financial records of the entity have been properly maintained, that this report complies with the appropriate accounting standards and gives a true and fair view of the cash flows of the entity, and that their opinion has been formed on the basis of a sound system of risk management and internal control which is operating effectively.
ASX Listing Rules Appendix 4C (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.
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