Quarterly Activities Report
Group Cash Flow Activities Report
- Cash at the end of the quarter was $3.4 million, following a net cash outflow of $0.7 million as part of continuing operations.
- During the quarter $0.2 million in cash receipts were received from customers. The cash receipts in the June quarter were in line with March and December quarter but down $0.2 million on the previous corresponding period (pcp), the Company receives most of its annual revenue (on a cash basis) in the September quarter.
- Cash payments for administration costs for the period are $0.6 million up $0.3 million on the previous quarter. This increase is due to ASIC Industry Levy paid in April 2021.
- Cash payments to staff, corporate and the board for the period were $0.5 million in line with the previous quarter.
- Cash payment for intellectual property is $0.3 million on June quarter as part of ongoing NASDAQ trading engine upgrade.
- On 10 and 11 June 2021 NSX completed a placement to unrelated Security Holders of 17,857,151 shares at an issue price of 14 cents raising $2.4 million (net of cash costs).
- As announced on 5 July 2021, the Company will hold a General Meeting on 5 August 2021, the purpose of which is seeking shareholder approval to raise an additional $1 million in capital from related parties of the company as part of the previously completed capital raising in June 2021.
Quarterly Business Activities Report
NSX Limited Activities
- The Company continues with its activities concerning the ClearPay joint venture.
- Directors being related parties of the Company, for the purposes of this report, were paid remuneration in the amount of $118k during the June quarter. No other related party payments were made.
Quarterly Business Activities Report (Cont.) - NSXL
ClearPay Joint Venture
- Preliminary engagement with regulators has commenced regarding licensing requirements;
- DvP platform software development continues; and
- DESS Digital Ledger Technology system operational with no downtime.
National Stock Exchange (NSXA) Activities
- The activities of the Company's wholly owned subsidiary, National Stock Exchange of Australia ("NSXA"), involved business as usual processing of new admission applications and market operations. NSXA admitted 3 new issuers during the quarter from April 2021 to June 2021.
- In conjunction with ClearPay, submitted a RFEOI to operate the Carbon Exchange of Australia.
- Continues to engage with prospective issuers for fast-track, compliance, direct entry and IPO's.
- The NSXA continues to position itself as the venture and emerging companies exchange, creating a clear differentiation from other Australian markets. The NSXA:
o Has updated admissions guidance on Direct Entry, Compliance and Capital Raising listings1; and
o Has commenced regulatory engagement to extend its product suite to include Exchange Traded Products (ETP's)
- Has new admissions scheduled before end of next quarter being One broker participant; and 1-3 new issuers.
First Online Broker Launch on NSXA
From Monday 26 July the trading platform Marketech (marketech.com.au) will be the first online retail broking platform in Australia to offer direct market access to retail investors for companies listed on NSXA.
The partnership represents a significant step in improving liquidity for emerging Australian companies listed on the tier 1 licensed exchange, allowing active traders to have real time visibility of the NSX market via the Marketech platform.
This partnership brings the NSXA investment universe to online retail investors, with an affordable, high tech trading solution, connected to the CHESS settlement process, something that was previously only available through advice brokers.
The NSXA has made a number of very significant technology upgrades in the last 12 months, with the connection to the Trade Acceptance Service (TAS) last November allowing fully automated trading and novated settlement on the NSX for the first time.
The addition of the Marketech online trading platform will improve liquidity and is another step towards the NSXA's goal to become Australia's leading emerging and venture company exchange.
A joint press release will be made available from Monday 26 July 2021.
About Marketech (www.marketech.com.au)
Marketech has been building online market and trading platforms in Australia for 20 years, with a focus on empowering traders through access to market leading data and tools. Marketech gives serious and active investors many of the premium features professional institutions rely on, through an easy-to-use interface combined with ultra low cost brokerage.
Marketech trading and settlement is facilitated by OpenMarkets Australia Limited ABN 38 090 472 012, an Australian Financial Services Licensee (ASFL 246705) and Market Participant of ASX, ChiX and NSX. OpenMarkets is also an ASX Clear and Settlement Participant.
To view the cashflow report, please visit:
About NSX Limited
NSX Limited (ASX:NSX) via its wholly owned subsidiary National Stock Exchange of Australia Limited (NSXA) operates the Tier 1 Licensed stock exchange facility for the listing of equity securities, corporate debt and investment scheme units. The company is also involved in trading and settlement activities.