QUESTE COMMUNICATIONS LIMITED — Interim / Quarterly Report 2020

Jan 13, 2020

December 2019 Monthly Cash Flow Report

Name of entity:

QUESTE COMMUNICATIONS LTD and controlled entity

	ACN or ARBN	Month Ended
	081 688 164	31 December 2019
Consolidated statement of cash flows		CompanyConsolidated
Cash flows related to operating activities		Current MonthDec-19$' 000	Year to Date6 months$' 000	Current MonthDec-19$' 000	Year to Date6 months$' 000
1.1	Receipts from customers	-	-	12	19
1.2	Payments forstaff costs(a)advertising and marketing(b)research and development(c)leased assets(d)other working capital(e)	(44)---(1)	(77)---(34)	(85)---(7)	(399)---(139)
1.31.41.51.61.7	Dividends receivedInterest and other items of a similar nature receivedInterest and other costs of finance paidIncome taxes (paid)/refundOther (provide details if material)	-----	-1--28	-----	-3--28
	Net operating cash flows	(45)	(82)	(80)	(488)

Notes:

The Company currently has a 59.86% (30 November 2019: 59.86%) interest in ASX listed investment company, Orion Equities Limited ("OEQ"). OEQ is a controlled entity of the Company under the Accounting Standards. Therefore, the Consolidated columns in this Monthly Cash Flow Report takes into account the cash flows of the Company and its controlled entity, including OEQ.

		Company		Consolidated
		Current Month	Year to Date	Current Month	Year to Date
		Dec-19	6 months	Dec-19	6 months
		$' 000	$' 000	$' 000	$' 000
1.8	Net operating cash flows (carried forward)	(45)	(82)	(80)	(488)
	Cash flows related to investing activities
1.9	Payment for acquisition of:
	businesses (item 5)(a)	-	-	-	-
	equity investments(b)	-	-	-	-
	intellectual property(c)	-	-	-	-
	physical non-current assets
	(d)	-	-	-	-
	other non-current assets(e)	-	-	-	-
1.10	Proceeds from disposal of:
	businesses (item 5)(a)	-	-	-	-
	equity investments
	(b)	-	-	-	-
	intellectual property(c)	-	-	-	-
	physical non-current assets(d)	-	-	-	-
	other non-current assets(e)	-	-	-	-
	Loans to other entities
1.11	Loans repaid by other entities	-	-	-	-
1.12	Other (provide details if material)	-	-	-	-
1.13
	Net investing cash flows	-	-	-	-
1.14	Total operating and investing cash flows	(45)	(82)	(80)	(488)
	Cash flows related to financing activities
1.15	Proceeds from issues of shares, options, etc.	-	-	-	-
1.16	Proceeds from sale of forfeited shares	-	-	-	-
1.17	Proceeds from borrowings	-	50	-	-
1.18	Repayment of borrowings	-	-	-	-
1.19	Dividends paid	-	-	-	-
1.20	Other (provide details if material)	-	-	-	-
	Net financing cash flows	-	50	-	-
	Net increase (decrease) in cash held	(45)	(32)	(80)	(488)
1.21	Cash at beginning of month/year to date
1.22	Exchange rate adjustments to item 1.20	72	59-	464	872
		-		-	-
1.23	Cash at end of month	27	27	384	384

Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the related entities

		Current MonthDec-19$' 000
1.24	Aggregate amount of payments to the parties included in item 1.2	41
1.25	Aggregate amount of loans to the parties included in item 1.11	-

1.26 Explanation necessary for an understanding of the transactions

Payments for Item 1.24 includes: (2) Attributable to Controlled Entity, OEQ. (1) Attributable to the Company; and

Non-cash financing and investing activities

2.1 Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows

None.

2.2 Details of outlays made by other entities to establish or increase their share in businesses in which the reporting entity has an interest

None.

Financing facilities available

Add notes as necessary for an understanding of the position. (See AASB 1026 paragraph 12.2).

		Amt available	Amount used
		$' 000	$' 000
3.1	Loan facilities	150	50
3.2	Credit standby arrangements	-	-

Note: OEQ and QUE have entered into a Loan Agreement for OEQ to advance up to $150,000 to QUE. The loan is unsecured and matures on 30 June 2020 and accrues interest at 10% pa.

Reconciliation of cash		Company		Consolidated
	Reconciliation of cash at the end of the month (as shown in	Current	Previous	Current	Previous
the consolidated statement of cash flows) to the related items		Month	Month	Month	Month
in the accounts is as follows:		$' 000	$' 000	$' 000	$' 000
4.1	Cash on hand and at bank	3	48	360	440
4.2	Deposits at call	24	24	24	24
4.3	Bank overdraft	-	-	-	-
4.4	Other (Bank Bills)	-	-	-	-
	Total: cash at end of month (item 1.23)	27	72	384	464

Acquisitions and disposals of business entities

		Acquisitions(Item 1.9(a))		Disposals(Item 1.10(a))
5.1	Name of entity	-	-	-	-
5.2	Place of incorporation or registration	-	-	-	-
5.3	Consideration for acquisition or disposal	-	-	-	-
5.4	Total net assets	-	-	-	-
5.5	Nature of business	-	-	-	-

Compliance statement

1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act or other standards acceptable to ASX.

2 This statement does give a true and fair view of the matters disclosed.

Victor Ho Company Secretary

Date: 14 January 2020

The Company currently holds the following listed share investments.

	31-Dec-19
	No Shares/Units	% Interest	Last Bid Price	Market Value
Shares in Orion Equities Limited (OEQ)	9,367,653	59.86 %	$0.074	$693,206
Shares in Bentley Capital Limited (BEL)	1,225,752	1.61 %	$0.040	$49,030
				$742,236

The above investments are regarded as liquid assets to supplement the Company's cash reserves.

FOR FURTHER INFORMATION

Victor Ho Company Secretary T| (08) 9214 9777 E| cosec@queste.com.au