Quarterly Activities Report
Sydney, Jan 30, 2023 AEST (ABN Newswire) - NSX Limited (ASX:NSX) is pleased to provide its Activities Report and ASX Appendix 4C Cashflow Statement for the period ended 31 December 2022 (2Q23).
Group Cash Flow Activities Report
- Cash at the end of the quarter was $5.06 million.
- During the quarter $0.3 million in cash receipts were received from customers noting the Company receives most of its annual revenue (on a cash basis) in the September quarter.
- Cash payments for administration costs for the quarter are:
o $1 million, up from $0.5 million in September quarter (Increase in the quarter is mainly due to $200K payments to a supplier for DESS cloud hosting services received in the current quarter but relating to previous periods; and the impact of a re-classification of $125K software development invoices which were booked to intangibles in the previous quarter however now reversed in this quarter.); and
o Other administration and corporate costs up $0.2 million on the previous corresponding period (pcp) associated with the capital raise, the KSA mining exchange Joint Venture project and business development expenses.
- Cash payments to staff, corporate and the board for the period were $0.4 million in line with the previous quarter.
- Cash received from capital raise of $1.7 million in this quarter exclusive of costs.
NSX Limited Activities
- Directors being related parties of the Company, for the purposes of this report, were paid remuneration in the amount of $81k during the December quarter. No other related party payments were made.
- On 13 October 2022 the Company executed a term sheet with Ajlan & Bros Mining Co., Ltd which is a precursor to move to a Joint Venture arrangement to create a mining and minerals exchange in Saudi Arabia.
- In December 2022 the Company raised $1.7 million excluding costs from a placement from the shortfall of shares in the previous capital raise to FinTech HQ Pty Ltd. Combined with on-market and off-market purchase from other shareholders FinTech became a substantial shareholder and holds 19.88% of the issued capital.
KSA Mining and Minerals Exchange Activities
On 13 October 2022 the Company announced that Ajlan & Bros Mining Co., Ltd. and NSX Limited, had signed a Term Sheet for a Joint Venture Agreement for the purpose of establishing the Kingdom of Saudi Arabia Metal and Mining Exchange.
In summary the following key points are of note:
- The parties continue to negotiate the Joint Venture agreement.
- Once finalised, NSX will receive a purchase order to provide services in the form of exchange expertise to the Joint Venture. It is expected that the fees received for these services will contribute to revenue over the period up to the launch of the mining exchange.
ClearPay Joint Venture Activities
- DESS Digital Ledger Technology system continues to operate 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.
- One new Issuer commenced trading during the period.
- The NSXA continues to position itself as the venture and emerging companies exchange, creating a clear differentiation from other Australian markets and marketing to issuer advisers and relevant capital raising groups.
*To view the full quarterly 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.