POINTERRA LIMITED — Interim / Quarterly Report 2011

Feb 27, 2011

SOIL SUB TECHNOLOGIES LIMITED A.C.N. 078 388 155

Interim Report December 2010

Soil Sub Technologies Limited

A.C.N. 078 388 155

Interim Report December 2010

Table of Contents

Corporate Directory ............................................................................................................. 1 Directors’ Report .................................................................................................................. 2 Independent Auditor's Declaration ...................................................................................... 3 Statement of Comprehensive Income ................................................................................. 4 Statement of Financial Position ........................................................................................... 5 Statement of Changes in Equity .......................................................................................... 6 Statement of Cash Flows ..................................................................................................... 7 Notes to the Financial Statements ....................................................................................... 8 Directors' Declaration........................................................................................................... 9 Independent Auditor's Review Report .............................................................................. 10

Corporate Directory

DIRECTORS

Mr Guy Le Page (Chairman) Mr Simon Mitchell (Non Executive Director) Mr Keong Chan (Non Executive Director)

COMPANY SECRETARY

Mr Keong Chan

REGISTERED OFFICE

1175 Hay Street West Perth WA 6005 Telephone: (07) 9321 3277 Facsimile: ( 07) 9321 3277

AUDITORS

Bentleys Level 1 12 Kings Park Road West Perth WA 6000 Telephone: (08) 9226 4500 Facsimile: (08) 9226 4300

STOCK EXCHANGE LISTING

Australian Securities Exchange (Home Exchange: Perth, Western Australia) Code: SOI

SHARE REGISTRY

Advanced Share Registry Services 150 Stirling Highway Nedlands WA 6009 Telephone: (08) 9389 8033 Facsimile: (08) 9389 7871

SOLICITORS

Steinpreis Paganin Level 4, the Read Building 16 Milligan Street Perth WA 6000 Telephone: (08) 9321 4000 Facsimile: (08) 9321 4333

Soil Sub Technologies Limited A.C.N. 078 388 155 1

Directors’ Report

Your directors submit the financial report of the Company for the half-year ended 31 December 2010.

The names of the directors in office at any time during or since the end of the year are:-

NAME OF PERSON

POSITION

Guy Le Page Director Simon Mitchell Non Executive Director Keong Chan Non Executive Director

Keong Chan Company Secretary

Results

The operating loss after income tax for the half year amounted to $221,692 (31 December 2009: $934,618).

Review of Operations

The principal activities of the Company during the year has been investigating the Nutrimix IP, reviewing other soil substitute technologies and assessing other investment opportunities.

Auditor’s Independence Declaration

The lead auditor’s independence declaration under section 307C of the Corporations Act 2001 is set out on page 3 for the half-year ended 31 December 2010.

This report is signed in accordance with a resolution of the Board of Directors.

On behalf of the Board of Directors.

Guy Le Page Director

DATED this 24[th] day of February 2011

Soil Sub Technologies Limited A.C.N. 078 388 155 2

To The Board of Directors

Auditor’s Independence Declaration under Section 307C of the Corporations Act 2001

This declaration is made in connection with our review of the financial report of Soil Sub Technologies Limited for the half year ended 31 December 2010 and in accordance with the provisions of the Corporations Act 2001.

We declare that, to the best of our knowledge and belief, there have been:

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• no contraventions of the auditor independence requirements of the Corporations Act 2001 in relation to the review;

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• no contraventions of the Code of Professional Conduct of the Institute of Chartered Accountants in Australia in relation to the review.

Yours faithfully

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BENTLEYS Chartered Accountants

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CHRIS WATTS CA Director

DATED at PERTH this 24[th] day of February 2011

Statement of Comprehensive Income

for the half-year ended 31 December 2010

Note Revenue Depreciation and amortisation expense Directors fees Accounting, administration and audit expense 2 Administrators expense Consulting and contracting expense Financing expense Travel expense Compliance and regulatory Project evaluation costs Other expenses Profit/(Loss) from ordinary activities before income tax expense Income tax (expense)/credit relating to ordinary activities Other comprehensive income Net Loss and total comprehensive income for the period Net Loss and total comprehensive income attributable to members of company Basic loss per share (cents per share)	31.12.2010 $ 31.12.2009 $ 19,082 - (25,000) (25,000) (67,178) - (17,600) - (54,900) (295,708) - (55,430) (567) (564,899) (2,969) - (22,380) - (42,777) - (7,403) 6,419
	(221,692) (934,618) - -
	- -
	(221,692) (934,618)
	(221,692) (934,618)
	(0.06) (0.01)

The accompanying notes form part of these financial accounts

Soil Sub Technologies Limited A.C.N. 078 388 155

4

Statement of Financial Position

as at 31 December 2010

CURRENT ASSETS Cash and cash equivalents Trade and other receivables TOTAL CURRENT ASSETS NON CURRENT ASSETS Intangible assets TOTAL NON-CURRENT ASSETS TOTAL ASSETS CURRENT LIABILITIES Trade and other payables Short-term provisions TOTAL CURRENT LIABILITIES TOTAL LIABILITIES NET ASSETS EQUITY Issued capital Accumulated losses TOTAL EQUITY	31.12.2010 $ 30.6.2010 $ 1,288,479 1,447,308 - 20,080
	1,288,479 1,467,388
	225,000 250,000
	225,000 250,000
	1,513,479 1,717,388
	38,533 30,750 10,000 -
	48,533 30,750
	48,533 30,750
	1,464,946 1,686,638
	2,162,119 2,162,119 (697,173) (475,481)
	1,464,946 1,686,638

The accompanying notes form part of these financial accounts

Soil Sub Technologies Limited A.C.N. 078 388 155 5

Statement of Changes in Equity

for the half-year ended 31 December 2010

BALANCE AT 1 JULY 2009 Loss for the year Other comprehensive income Total comprehensive income for the period Transactions with owners directly in equity Other transactions SUB-TOTAL Distributions to members paid or provided for BALANCE AT 31 DECEMBER 2009 BALANCE AT 1 JULY 2010 Loss for the year Other comprehensive income Total comprehensive income for the period Transactions with owners directly in equity Other transactions SUB-TOTAL Distributions to members paid or provided for BALANCE AT 31 DECEMBER 2010	Issued Capital Accumulated Losses Total $ $ $
	28,684,679 (34,684,540) (5,999,861) - (934,618) (934,618) - - -
	- (934,618) (934,618) - - -
	- - (6,934,479) - - -
	28,684,679 (35,619,158) (6,934,479)
	2,162,119 (475,481) 1,686,638 - (221,692) (221,692) - - -
	- (221,692) (221,692) - - -
	2,162,119 (697,173) 1,464,946 - - -
	2,162,119 (697,173) 1,464,946

The accompanying notes form part of these financial accounts

Soil Sub Technologies Limited A.C.N. 078 388 155

6

Statement of Cash Flows

for the half-year ended 31 December 2010

CASH FLOWS FROM OPERATING ACTIVITIES Payments to suppliers and employees Interest received Net Cash Provided by Operating Activities Net decrease in cash held Cash at beginning of the period Cash at end of the period	31.12.2010 $ 31.12.2009 $ (177,911) - 19,082 -
	(158,829) -
	(158,829) - 1,447,308 -
	1,288,479 -

The accompanying notes form part of these financial accounts

Soil Sub Technologies Limited A.C.N. 078 388 155

7

Notes to the Financial Statements

for the half-year ended 31 December 2010

NOTE 1. STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Preparation

These general purpose financial statements for the interim half-year reporting period ended 31 December 2010 have been prepared in accordance with requirements of the Corporations Act 2001 and Australian Accounting Standards including AASB 134: Interim Financial Reporting. Compliance with Australian Accounting Standards ensures that the financial statements and notes also comply with International Financial Reporting Standards.

This interim financial report is intended to provide users with an update on the latest annual financial statements of Soil Sub Technologies Limited. As such, it does not contain information that represents relatively insignificant changes occurring during the half-year within the Company. It is therefore recommended that this financial report be read in conjunction with the annual financial statements of the Company for the year ended 30 June 2010, together with any public announcements made during the half year.

The same accounting policies and methods of computation have been followed in this interim financial report as were applied in the most recent annual financial statements except for the adoption of the following new and revised Accounting Standards.

NOTE 2. EVENTS AFTER THE BALANCE SHEET DATE

There have been no events subsequent to balance date.

NOTE 3. OPERATING SEGMENTS

The Company has identified its operating segments based on the internal reports that are reviewed and used by the Board of Directors (chief operating decision makers) in assessing performance and determining the allocation of resources. The information presented in the financial report is the same information that is reviewed by the directors’.

The Company completed a recapitalisation for the financial year ended 30 June 2010. The Company is currently operative in one geographic region being Australia. The Company has identified its operating segments based on the internal reports that are reviewed and used by the Board of Directors (chief operating decision makers) in assessing performance and determining the allocation of resources.

NOTE 4. CONTINGENT ASSETS AND LIABILITIES

There are no contingent assets and liabilities.

Soil Sub Technologies Limited A.C.N. 078 388 155 8

Directors' Declaration

The directors of the company declare that:

1. The financial statements and notes, as set out on pages 4 to 8, are in accordance with the Corporations Act 2001, including:

2. (a) complying with Accounting Standard AASB 134: Interim Financial Reporting and the Corporations Regulations 2001; and

3. (b) giving a true and fair view of the consolidated entity’s financial position as at 31 December 2010 and of the performance for the half-year ended on that date.

4. In the directors' opinion there are reasonable grounds to believe that the company will be able to pay its debts as and when they become due and payable.

This declaration is made in accordance with a resolution of the Board of Directors.

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Guy Le Page Director

DATED at PERTH this 24[th] day of February 2011

.

Soil Sub Technologies Limited A.C.N. 078 388 155 9

Independent Auditor’s Review Report

To the Members of Soil Sub Technologies Limited

We have reviewed the accompanying half-year financial report of Soil Sub Technologies Limited (“the Company”) which comprises the statement of financial position as at 31 December 2010, and the statement of comprehensive income, statement of changes in equity and statement of cash flows for the half-year ended on that date, a statement of accounting policies, other selected explanatory notes and the directors’ declaration.

Directors Responsibility for the Half-Year Financial Report

The directors of the Company are responsible for the preparation of the half-year financial report that gives a true and fair view in accordance with Australian Accounting Standards and the Corporations Act 2001 and for such control as the directors determine is necessary to enable the preparation of the half-year financial report that is free from material misstatement, whether due to fraud or error.

Auditor’s Responsibility

Our responsibility is to express a conclusion on the half-year financial report based on our review. We conducted our review in accordance with Auditing Standard on Review Engagements ASRE 2410 Review of a Financial Report Performed by the Independent Auditor of the Entity, in order to state whether, on the basis of the procedures described, we have become aware of any matter that makes us believe that the financial report is not in accordance with the Corporations Act 2001 including: giving a true and fair view of the Company’s financial position as at 31 December 2010 and its performance for the half-year ended on that date; and complying with Accounting Standard AASB 134 Interim Financial Reporting and the Corporations Regulations 2001. As the auditor of Soil Sub Technologies Limited, ASRE 2410 requires that we comply with the ethical requirements relevant to the audit of the annual financial report.

A review of a half-year financial report consists of making enquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Australian Auditing Standards and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Independence

In conducting our review, we have complied with the independence requirements of the Corporations Act 2001.

10

Independent Auditor’s Review Report To the Members of Soil Sub Technologies Limited (Continued)

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Qualification Regarding the Carrying Value of Intangible Assets

The Company has recorded intangible assets related to Licences and Patents with a carrying value of $225,000 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 carry value of these assets.

Qualified Conclusion

Based on our review, which is not an audit, with the exception of the matter described in the preceding paragraph, we have not become aware of any matter that makes us believe that the half-year financial report of Soil Sub Technologies Limited is not in accordance with the Corporations Act 2001 including:

• a. Giving a true and fair view of the Company’s financial position as at 31 December 2010 and of its performance for the half-year ended on that date; and

• b. Complying with Accounting Standard AASB 134: Interim Financial Reporting and Corporations Regulations 2001.

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BENTLEYS Chartered Accountants

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CHRIS WATTS CA Director

DATED at PERTH this 24[th] day of February 2011