FINANCIAL REPORT ist da....
RealDOJO : FINANCIAL REPORT ist da....
GENERAL PURPOSE FINANCIAL REPORT
FOR THE YEAR ENDED 30 JUNE 2005
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Whilst pursuing its online media strategy, the Consolidated Entity, will continue to access new capital as and when required. Since the end of the reporting period, new capital of $230,000 has been raised by way of the placement of 2,300,000 shares, adding to working capital and to finance a number of major projects. The Consolidated Entity has also just received a notice from Mobile Media Services S.A. exercising options for 4,750,000 ordinary shares at 7 cents each. The new shares will be issued after the proceeds of $332,500, being remitted, is received.
The Consolidated Entity experienced operating losses and negative operating cash flows during the period ended 30 June 2005. The continuing viability of the Consolidated Entity and its ability to continue as a going concern and meet its debts and commitments as they fall due is dependent on it being successful in achieving cash inflow from media revenue including from various video subscription channels, advertising, sponsorships, and licensing of its technologies. If required, the Consolidated Entity should be able to access new capital to finance its operations until it is operationally cash positive. The directors believe that the Consolidated Entity will be successful in the above matters and have prepared the financial report on a going concern basis.
The adoption of Australian International Financial Reporting Pronouncements (AIFRPs) will be first reflected in the Consolidated Entity?s financial statements for the half-year 31 December 2005 and year ending 30 June 2006. Changes in accounting policies resulting from the adoption of AIFRPs are not expected to result in any material impact to future operating results to be reported. During the period under review the consolidated.