End of Quarter Update

 

TIDMMVH 
 
RNS Number : 7157B 
Medic Vision Limited 
30 October 2009 
 

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|              |              Appendix 4C               |                          |             | 
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|              |                                        |                          |             | 
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|              |           Quarterly report             |                          |             | 
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|              |        for entities admitted           |                          |             | 
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|              |      on the basis of commitments       |                          |             | 
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|              |                                        |                          |             | 
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|              |                                        |                          |             | 
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|              |                                        |                          |             | 
+--------------+----------------------------------------+--------------------------+-------------+ 
|              |                                        |                          |             | 
+--------------+----------------------------------------+--------------------------+-------------+ 
|              | Name of entity                         |                          |             | 
+--------------+----------------------------------------+--------------------------+-------------+ 
|              | Medic Vision Limited                   |                          |             | 
+--------------+----------------------------------------+--------------------------+-------------+ 
|              |                                        |                          |             | 
+--------------+----------------------------------------+--------------------------+-------------+ 
|              | ABN                                    | Quarter ended ("current quarter")      | 
+--------------+----------------------------------------+----------------------------------------+ 
|              | 67 099 084 143                         | 30 September 2009 |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              |                                        |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              | Consolidated statement of cash flows   |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              |                                        | YTD               |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              |                                        |   Current quarter |       Year to date | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              |                                        |                   |         (3 months) | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              | Cash flows related to operating        |            $A'000 |             $A'000 | 
|              | activities                             |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              |                                        |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
| 1.1          | Receipts from customers                |               11  |                11  | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              |                                        |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
| 1.2          | Payments for                           |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              | (a) staff costs                        |              (32) |               (32) | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              | (b) advertising and marketing          |              (75) |               (75) | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              | (c) research and development           |                -  |                 -  | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              | (d) leased assets                      |                -  |                 -  | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              | (e) other working capital              |             (478) |              (478) | 
+--------------+----------------------------------------+-------------------+--------------------+ 
| 1.3          | Dividends received                     |                -  |                 -  | 
+--------------+----------------------------------------+-------------------+--------------------+ 
| 1.4          | Interest and other items of a similar  |                4  |                 4  | 
|              | nature received                        |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
| 1.5          | Interest and other costs of finance    |               (2) |                (2) | 
|              | paid                                   |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
| 1.6          | Income taxes paid                      |                -  |                 -  | 
+--------------+----------------------------------------+-------------------+--------------------+ 
| 1.7          | Other (provide details if material)    |                -  |                 -  | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              |                                        |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              | Net operating cash flows               |             (572) |              (572) | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              |                                        |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              |                                        |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              |                                        |   Current quarter |       Year to date | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              |                                        |                   |         (3 months) | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              |                                        |            $A'000 |             $A'000 | 
+--------------+----------------------------------------+-------------------+--------------------+ 
| 1.8          | Net operating cash flows (carried      |                   |                    | 
|              | forward)                               |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              |                                        |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              | Cash flows related to investing        |                   |                    | 
|              | activities                             |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
| 1.9          | Payment for acquisition of:            |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              | (a) businesses (item 5)                |                -  |                 -  | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              | (b) equity investments                 |                -  |                 -  | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              | (c)   intellectual property            |                -  |                 -  | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              | (d) physical non-current assets        |                -  |                 -  | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              | (e) other non-current assets           |                -  |                 -  | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              |                                        |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
| 1.10         | Proceeds from disposal of:             |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              | (a) businesses (item 5)                |                -  |                 -  | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              | (b) equity investments                 |                -  |                 -  | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              | (c)   intellectual property            |                -  |                 -  | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              | (d) physical non-current assets        |                -  |                 -  | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              | (e) other non-current assets           |                -  |                 -  | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              | (f) Cash received on acquisition of    |                -  |                 -  | 
|              | subsidiary                             |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
| 1.11         | Loans to other entities                |                -  |                 -  | 
+--------------+----------------------------------------+-------------------+--------------------+ 
| 1.12         | Loans repaid by other entities         |                -  |                 -  | 
+--------------+----------------------------------------+-------------------+--------------------+ 
| 1.13         | Other (provide details if material)    |                -  |                 -  | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              |                                        |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              | Net investing cash flows               |                -  |                 -  | 
+--------------+----------------------------------------+-------------------+--------------------+ 
| 1.14         | Total operating and investing cash     |             (572) |              (572) | 
|              | flows                                  |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              |                                        |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              | 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 (Return of    |                -  |                 -  | 
|              | Capital)                               |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
| 1.17a        | Proceeds from borrowings               |                -  |                 -  | 
+--------------+----------------------------------------+-------------------+--------------------+ 
| 1.17b        | Proceeds from Pre Acquision Loan       |                -  |                 -  | 
+--------------+----------------------------------------+-------------------+--------------------+ 
| 1.17c        | Proceeds from Convertible Notes        |              175  |               175  | 
+--------------+----------------------------------------+-------------------+--------------------+ 
| 1.18         | Repayment of borrowings                |                -  |                 -  | 
+--------------+----------------------------------------+-------------------+--------------------+ 
| 1.19         | Dividends paid                         |                -  |                 -  | 
+--------------+----------------------------------------+-------------------+--------------------+ 
| 1.20         | Other (provide details if material)    |                -  |                 -  | 
+--------------+----------------------------------------+-------------------+--------------------+ 
| 1.21         | Capital Raising Costs                  |                -  |                 -  | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              | Net financing cash flows               |              175  |               175  | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              |                                        |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              | Net increase (decrease) in cash held   |             (397) |              (397) | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              |                                        |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
| 1.21         | Cash at beginning of quarter/year to   |              737  |               737  | 
|              | date                                   |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
| 1.22         | Exchange rate adjustments to item 1.20 |                -  |                 -  | 
+--------------+----------------------------------------+-------------------+--------------------+ 
| 1.23         | Cash at end of quarter                 |              340  |               340  | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              |                                        |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              |                                        |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
| 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 quarter |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              |                                        |            $A'000 |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
| 1.24         | Aggregate amount of payments to the    |               35  |                    | 
|              | parties included in item 1.2           |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
| 1.25         | Aggregate amount of loans to the parties included in item  |                    | 
|              | 1.11                                                       |                    | 
+--------------+------------------------------------------------------------+--------------------+ 
|              |                                        |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
| 1.26         | Explanation necessary for an understanding of the          |                    | 
|              | transactions                                               |                    | 
+--------------+------------------------------------------------------------+--------------------+ 
|              | Salaries and Directors' fees                                                    | 
+--------------+---------------------------------------------------------------------------------+ 
|              |                                        |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              |                                        |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              |                                        |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              |                                        |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              | 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         |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              |                                        |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              |                                        |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              |                                        |  Amount available |        Amount used | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              |                                        |           $A'000  |             $A'000 | 
+--------------+----------------------------------------+-------------------+--------------------+ 
| 3.1          | Loan facilities                        |                -  |                 -  | 
+--------------+----------------------------------------+-------------------+--------------------+ 
| 3.2          | Credit standby arrangements            |                -  |                 -  | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              |                                        |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              | Reconciliation of cash                 |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              |                                        |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              | Reconciliation of cash at the end of the quarter (as shown in the consolidated  | 
|              | statement of cash flows) to the related items in the accounts is as follows.    | 
+--------------+---------------------------------------------------------------------------------+ 
|              |                                        |  Current quarter  |   Previous quarter | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              |                                        |            $A'000 |             $A'000 | 
+--------------+----------------------------------------+-------------------+--------------------+ 
| 4.1          | Cash on hand and at bank               |              340  |               737  | 
+--------------+----------------------------------------+-------------------+--------------------+ 
| 4.2          | Deposits at call                       |                -  |                 -  | 
+--------------+----------------------------------------+-------------------+--------------------+ 
| 4.3          | Bank overdraft                         |                -  |                 -  | 
+--------------+----------------------------------------+-------------------+--------------------+ 
| 4.4          | Other (provide details)                |                -  |                 -  | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              | Total: cash at end of quarter (item    |              340  |               737  | 
|              | 1.23)                                  |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              |                                        |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              | Acquisitions and disposals of business |                   |                    | 
|              | entities                               |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              |                                        |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              |                                        | Acquisitions      | Disposals          | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              |                                        |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
| 5.1          | Name of entity                         | None              | None               | 
+--------------+----------------------------------------+-------------------+--------------------+ 
| 5.2          | Place of incorporation or registration | None              | None               | 
+--------------+----------------------------------------+-------------------+--------------------+ 
| 5.3          | Consideration for acquisition or       | None              | None               | 
|              | disposal                               |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
| 5.4          | Total net assets                       | None              | None               | 
+--------------+----------------------------------------+-------------------+--------------------+ 
| 5.5          | Nature of business                     | None              | None               | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              |                                        |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              | Compliance statement                   |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              |                                        |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
| 1            | This statement has been prepared under accounting policies which comply with    | 
|              | accounting standards as defined in the Corporations Act (except to the extent   | 
|              | that information is not required because of note 2) or other standards          | 
|              | acceptable to ASX.                                                              | 
+--------------+---------------------------------------------------------------------------------+ 
|              |                                        |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
| 2            | This statement does give a true and fair view of the       |                    | 
|              | matters disclosed.                                         |                    | 
+--------------+------------------------------------------------------------+--------------------+ 
|              |                                        |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              | Sign here: .......................................................         | Date: 30 October 2009                  | 
+--------------+----------------------------------------+----------------------------------------+ 
|              | Chief Executive Officer                |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              | Vince Leone                            |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              | Notes                                  |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              |                                        |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
| 1            | The quarterly report provides a basis for informing the market how the entity's | 
|              | activities have been financed for the past quarter and the effect on its cash   | 
|              | position. An entity wanting to disclose additional information is encouraged to | 
|              | do so, in a note                                                                | 
+--------------+---------------------------------------------------------------------------------+ 
|              |                                        |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
| 2            | The definitions in, and provisions of, AASB 1026: Statement of Cash Flows apply | 
|              | to this report except for the paragraphs of the Standard set out below.         | 
+--------------+---------------------------------------------------------------------------------+ 
|              |                                        |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
| · 6.2        | - reconciliation of cash flows arising from operating      |                    | 
|              | activities to operating profit or loss                     |                    | 
+--------------+------------------------------------------------------------+--------------------+ 
| · 9.2        | - itemised disclosure relating to      |                   |                    | 
|              | acquisitions                           |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
| · 9.4        | - itemised disclosure relating to      |                   |                    | 
|              | disposals                              |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
| · 12.1 (a)   | - policy for classification of cash    |                   |                    | 
|              | items                                  |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
| · 12.3       | - disclosure of restrictions on use of |                   |                    | 
|              | cash                                   |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
| · 13.1       | - comparative information              |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              |                                        |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
| 3.           | Accounting Standards.                  |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              | ASX will accept, for example, the use of International Accounting Standards for | 
|              | foreign entities.                                                               | 
+--------------+---------------------------------------------------------------------------------+ 
|              | If the standards used do not address a topic, the Australian standard on that   | 
|              | topic (if any) must be complied with.                                           | 
+--------------+---------------------------------------------------------------------------------+ 
|              |                                        |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              |                                        |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              |                                        |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              |                                        |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              |                                        |                   |                    | 
+--------------+----------------------------------------+-------------------+--------------------+ 
|              |                                        |                   |                    | 
+--------------+----------------------------------------+-------------------+------+-------------+ 
 
 
 
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   END 
 
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