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POINTERRA LIMITED — Regulatory Filings 2012
Nov 12, 2012
64255_rns_2012-11-12_d246fdf6-1e6e-44a9-8340-b34738708b70.pdf
Regulatory Filings
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ASX:SOI
13 November 2012
Wade Baggott Senior Adviser Listings (Perth) ASX Limited Exchange Plaza 2 The Esplanade Perth, WA. 6000
Dear Wade,
RE: Appendix 4C response – Soil Sub Technologies Limited (the “Company”)
Please find below the Company’s responses to ASX’s queries regarding the Company’s Appendix 4C in a letter dated 12 November 2012.
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The Company will have sufficient cash to fund its activities taking into account the following factors:
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a. Reduction in corporate overheads;
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b. The Company’s tax consultants are currently preparing the Company’s tax return including R&D tax refund which may be substantial due to R&D expenditure incurred in the 2011/12 financial year;
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c. Due to warmer weather conditions, the Company will initiate re-trialling of crops to confirm trial results to ensure consistency for the Nutrimix formula. The re-trialling activities, whilst required, will not be as cash flow intensive as those activities undertaken in the last financial year.
The Company will decide on an appropriate strategy regarding the progress of the Nutrimix products and financing options available. These financing options include the Company’s right to raise further funds under the 15% capacity available under ASX Listing Rule 7.1, a rights issue, debt financing etc.
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Please refer to response at (1) above.
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Please refer to response at (1) above.
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The Company is currently in compliance with Listing Rule 3.1. If a material transaction where to occur, the Company will disclose this to the market immediately.
Soil Sub Technologies Limited ACN: 078 388 155 Postal Address: PO Box 154 Perth WA 6872 Contact Number: 08 9321 3277 Fax Number: 08 9321 8399
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- The Company is currently in compliance with Listing Rule 12.2. The Company’s last set of financial statements 30 June 2012 demonstrated a positive net asset position in addition to the Company’s ability to raise further funds as described in (1) above.
Regards
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Keong Chan Company Secretary
Soil Sub Technologies Limited ACN: 078 388 155 Postal Address: PO Box 154 Perth WA 6872 Contact Number: 08 9321 3277 Fax Number: 08 9321 8399
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ASX Compliance Pty Limited ABN 26 087 780 489 Level 8 Exchange Plaza 2 The Esplanade PERTH WA 6000
GPO Box D187 PERTH WA 6840
Telephone 61 8 9224 0000 Facsimile 61 8 9221 2020 www.asx.com.au
12 November 2012
Mr Keong Chan Company Secretary Soil Sub Technologies Limited Level 2, 6 Kings Park Road WEST PERTH WA 6005
By e-mail: [email protected]
Dear Keong
Soil Sub Technologies Limited (the “Company”)
I refer to the Company’s Quarterly Report for the period ended 30 September 2012 , released to ASX Limited ("ASX") on 30 October 2012 (the “Appendix 4C”).
ASX notes that the Appendix 4C reported the following as at 30 September 2012:
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Receipts from customers of $0
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Negative operating cash flow expenditure of $127,000.
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Cash balance of $77,000.
In light of the information contained in the Appendix 4C, please respond to each of the following questions.
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Is it possible to conclude on the basis of the information provided that if the Company were to continue to expend cash at the rate for the quarter indicated by the Appendix 4C, the Company may not have sufficient cash to fund its activities? Is this the case, or are there other factors that should be taken into account in assessing the Company’s position?
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Does the Company expect that in the future it will have negative operating cash flows similar to that reported in the Appendix 4C for the quarter and, if so, what steps has it taken to ensure that it has sufficient funds in order to continue its operations at that rate?
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What steps has the Company taken, or what steps does it propose to take, to enable it to continue to meet its business objectives?
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Can the Company confirm that it is in compliance with the listing rules, and in particular, listing rule 3.1?
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Please comment on the Company’s compliance with listing rule 12.2, with reference to the matters discussed in the note to the rule.
Listing rule 3.1
Listing rule 3.1 requires an entity to give ASX immediately any information concerning it that a reasonable person would expect to have a material effect on the price or value of the entity’s securities. The exceptions to this requirement are set out in the rule.
In responding to this letter you should consult listing rule 3.1 and the guidance note titled “Continuous disclosure: listing rule 3.1”.
If the information requested by this letter is information required to be given to ASX under listing rule 3.1 your obligation is to disclose the information immediately.
Your responsibility under listing rule 3.1 is not confined to, or necessarily satisfied by, answering the questions set out in this letter.
This letter and your response will be released to the market. If you have any concerns about your response being released, please contact me immediately. Your response should be sent to me on facsimile number (08) 9221 2020 . It should not be sent to the Company Announcements Office.
Unless the information is required immediately under listing rule 3.1, a response is requested as soon as possible and, in any event, not later than 5:00 p.m. W.S.T. on Wednesday 14 November 2012 .
If you are unable to respond by the time requested you should consider a request for a trading halt in the Company’s securities.
If you have any queries please let me know.
Yours sincerely,
[sent electronically without signature]
Wade Baggott Senior Adviser, Listings (Perth)
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