POINTERRA LIMITED — Annual Report 2012

Aug 30, 2012

Appendix 4E

PRELIMINARY FINAL REPORT FOR THE YEAR ENDED 30 JUNE 2012

SOIL SUB TECHNOLOGIES LIMITED ABN 39 078 388 155

1. Company details

Soil Sub Technologies Limited

ABN or equivalent company reference 39 078 388 155	Financial year ended (‘current period’) 30 June 2012	Financial year ended (‘previous period’)
39 078 388 155	30 June 2012	30 June 2011

2.	Results for announcement to the market
2.1.	Revenue	From	$31,236 to	$16,751
2.2.	Profit (loss) after tax	Down	57% to	$(424,437)
2.3.	Net profit (loss) for the period attributable to members	Down	57% to	$(424,437)
2.4.	Dividends
	It is not proposed to pay dividends.
2.5.	Record date for determining entitlements to the final dividend.			N/A
2.6.	Brief explanation of any of the figures in 2.1 to 2.4 above necessary to enable the figures to be
	understood.
	The Company has been actively assessing the Nutrimix and soil substitute technologies as its principal activity.
	.

3. Statement of Comprehensive Income

3. Statement of Comprehensive Income
	Note	Company 2012 $	Company 2011 $
Revenue Other income Finance costs Depreciation and amortisation expense Employee benefits expense Directors Fees Accounting and administration	3.1	16,751 - - (25,294) - (192,000) (22,438)	31,236 1,538 - (25,000) - (134,000) (28,950)

SOIL SUB TECHNOLOGIES LIMITED ABN 39 078 388 155

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Appendix 4E

PRELIMINARY FINAL REPORT FOR THE YEAR ENDED 30 JUNE 2012

	Note	Company 2012 $	Company 2011 $
Consulting and contracting cost Travel and accommodation Compliance and regulatory Other expenses from ordinary activities Profit/ (Loss) before income tax expense Income tax expense Net profit/(loss) for the year Other comprehensive income Total comprehensive income		(109,800) (10,876) (50,223) (30,557)	(283,633) (23,148) (36,479) (279,342)
		(424,437) -	(777,778) -
		(424,437) - (424,437)	(777,778) - (777,778)
Basic earnings /(loss) per share		(0.001)	(0.002)

Notes to the Statement of Comprehensive Income

3.1 Other Income Refund of tax from ATO Total Other Income	Note	Company 2012 $ -	Company 2011 $ 1,538
		-	1,538

4. Statement of Financial Position

	Note	Company 2012 $	Company 2011 $
CURRENT ASSETS Cash and cash equivalents Trade and other receivables Project costs TOTAL CURRENT ASSETS		204,132 18,026 -	783,303 31,451 42,267
		222,158	857,021
NON CURRENT ASSETS Intangible Assets Plant & Equipment TOTAL NON CURRENT ASSETS TOTAL ASSETS		632,906 1,383	225,000 -
		634,289	225,000
		856,447	1,082,021

SOIL SUB TECHNOLOGIES LIMITED ABN 39 078 388 155

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Appendix 4E

PRELIMINARY FINAL REPORT FOR THE YEAR ENDED 30 JUNE 2012

	Note	Company 2012 $	Company 2011 $
CURRENT LIABILITIES Trade and other payables Short–term provisions TOTAL CURRENT LIABILITIES TOTAL LIABILITIES NET ASSETS/(DEFICIENCY)		25,000 30,279	112,646 18,247
		55,279	130,893
		55,279	130,893
		801,168	908,860
EQUITY Issued capital Accumulated losses TOTAL EQUITY		2,478,864 (1,677,696)	2,162,119 (1,253,259)
		801,168	908,860

SOIL SUB TECHNOLOGIES LIMITED ABN 39 078 388 155

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Appendix 4E

PRELIMINARY FINAL REPORT FOR THE YEAR ENDED 30 JUNE 2012

5. Statement of Cash Flows

5. Statement of Cash Flows
	Note	Company 2012 $	Company 2011 $
CASH FLOWS FROM OPERATING ACTIVITIES Payments to suppliers and employees Interest received		(479,760) 16,751	(705,241) 31,236
Net Cash Used In Operating Activities		(463,009)	(674,005)
CASH FLOW FROM INVESTING ACTIVITIES Payments for intangible assets Net Cash Used In Investing Activities CASH FLOW FROM FINANCING ACTIVITIES Proceeds from Issue of Shares Proceeds from oversubscriptions Return proceeds from oversubscriptions Payment of share issue costs		(432,906)	-
		(432,906)	-
		337,500 - - (20,756)	- - 10,000 -
Net Cash Provided By Financing Activities		316,744	10,000
Net increase/(decrease) in cash held Cash and Cash Equivalents at beginning of financial year Cash and Cash Equivalents at end of financialyear		(579,171) 783,303	(664,005) 1,47,308
		204,132	783,303

SOIL SUB TECHNOLOGIES LIMITED ABN 39 078 388 155

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Appendix 4E

PRELIMINARY FINAL REPORT FOR THE YEAR ENDED 30 JUNE 2012

6. Individual and Total Dividends Per Security

	Date dividend is payable	Amount per security	Franked amount per security at 30% tax	Amount per security of foreign source dividend
Final dividend: Current year Previousyear	Nil Nil	Nil Nil	Nil Nil	Nil Nil
Interim dividend: Current year Previousyear	Nil Nil	Nil Nil	Nil Nil	Nil Nil
Total: Current year Previousyear	Nil Nil	Nil Nil	Nil Nil	Nil Nil

7. Dividend Reinvestment Plans

The company does not have a dividend reinvestment plan.

SOIL SUB TECHNOLOGIES LIMITED ABN 39 078 388 155

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Appendix 4E

PRELIMINARY FINAL REPORT FOR THE YEAR ENDED 30 JUNE 2012

Statement of Changes in Equity

	Issued Capital	Accumulated Losses	Total
Company BALANCE AT 1 JULY 2011 (Loss) for the year Total comprehensive income for the year Transactions with owners, directly in equity Other transactions	2,162,119 -	(1,253,259) (424,437)	908,860 (424,437)
	- -	(424,437) -	(424,437) -
BALANCE AT 30 JUNE 2012	2,162,119	(1,677,696)	801,168

SOIL SUB TECHNOLOGIES LIMITED ABN 39 078 388 155

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Appendix 4E

PRELIMINARY FINAL REPORT FOR THE YEAR ENDED 30 JUNE 2012

8. NTA backing

8. NTA backing
	30 June 2012	30 June 2011
Net tangible asset backing per ordinary security	$0.002	$0.002

9. Details of associates and joint venture entities

There are no associates or joint venture entities.

10. Commentary on results for the period

During the year, the Company’s consultants have been trialling raw inputs to ascertain the composting time frame required to produce soil supplements, potting mixes and potentially a low cost organic fertiliser as part of the newly developed range of Nutrimix products.

Some 24 treatments have been established using the organic waste material from several agricultural industries and based on analysis of nutrients, combinations of these wastes form the basis of the materials tested during the trials.

The initial visual changes observed by the testing team appear to be very encouraging as the compost treatments are rolled over to accelerate the breakdown of raw material into a finer component.

The waste materials chosen for these trials are those that are readily available adjacent to all major rural centres around Australia to enable any future manufacturing facility to be established close to source supply thereby minimising freight. This selective and simple approach to logistics will enhance the potential future manufacturing and sale of Nutrimix products and improve the potential franchising/ licensing opportunities in these centres.

During the trials special additives are also being used to augment some treatments to ascertain the changes in nutrient values when developing a product to meet the needs of different soil types.

The Company is also assessing the application of IEM (waste to clean food) waste technologies using alternative sub strait material for Nutrimix and will inform the market further as this progresses.

SOIL SUB TECHNOLOGIES LIMITED ABN 39 078 388 155

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Appendix 4E

PRELIMINARY FINAL REPORT FOR THE YEAR ENDED 30 JUNE 2012

11. Statement of compliance in regards to audit

This report is based on accounts to which one of the following applies.

The accounts have been audited.	The accounts have been subject to review.
	The accounts are in the process of being reviewed.
The accounts are in the process of being audited.	The accounts have not yet been audited or reviewed.

If the accounts have been audited or subject to review and are subject to dispute or qualification, details are described below

Intangibles

The Company has recorded intangible assets related to Licences and Patents with a carrying value of $200,000 which relates to the Company’s Nutrimix products which can be used as a soil substitute. The Company has recorded capitalised development cost with a carrying value of $432,906 which relates to the Company’s Nutrimix products which can be used as a soil substitute. The reasonableness of the carrying value of intangibles is intrinsically linked to the continued operation of the Company into the future and primarily dependent on the economic benefits associated with these assets being realised. Should the Company be able to successfully commercialise this product and derive a sufficient level of income, then the carrying value of the asset may be supported. However, at the date of my report the eventual outcome of these events remains uncertain. As such, I have not been able to obtain sufficient evidence to support the Company’s assessment of the carrying value of these assets.

Going Concern

The financial report has been prepared on the going concern basis, which contemplates the continuity of normal business activity and the realisation of assets and the settlement of liabilities in the ordinary course of business. The Company incurred a loss from ordinary activities of $424,437 for the year ended 30 June 2012 (2010: $777,778 loss).

The ability of the Company to continue to pay its debts as and when they fall due is dependent upon successfully raising sufficient working capital, the successful commercialisation of the soil substitute product, and the continued support of its Board.

Management is currently in the process of raising working capital, however as at the date of this report, these negotiations remain on going, and the ultimate outcome of these negotiations remains uncertain.

Should the Company not be successful in its above initiatives, it may be necessary to sell some of its assets, and reduce expenditure by various methods. Although the Directors believe that they will be successful in these measures, if they are not, the Company may be unable to continue as a going concern and therefore may be unable to realise its assets and extinguish its liabilities in the normal course of business and at the amounts stated in the financial report.

As a result of these matters, a material uncertainty exists which may cast significant doubt on the Company’s ability to continue as a going concern and therefore it may be unable to realise its assets and discharge its liabilities in the normal course of business, as described above. The financial report does not include any adjustments relating to the recoverability and classification of recorded asset amounts nor to the amounts and classification of liabilities that might be necessary should the Company not continue as a going concern.

Sign here:

---

Date: 31 August 2012

Executive Chairman – Guy T. Le Page

SOIL SUB TECHNOLOGIES LIMITED ABN 39 078 388 155

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