Latest Company News

Shareholder and statutory information

the company is listed on the new Zealand Alternative exchange. Largest Shareholders (As At 13 July 2016) (listing rule 10.5.5(B))   rank Shareholder holding % 1 nZ silveray group limited 1,717,273,584 46.87 2 g A sego limited 285,156,618 7.78 3 lin Fang 200,000,000 5.46 4 e Way holdings group limited 200,000,000 5.46 5 lei Chen 180,000,000 4.91 6 yinrui shen 180,000,000 4.91 7 Zhongsheng yao 100,000,000 2.73 8 snowdon peak investments limited 94,824,602 2.59 9 Wei Fang 80,000,000 2.18 10 Fei yao 80,000,000 2.18 11 mingbao Zhang 80,000,000 2.18 12 … Continue reading

August 30, 2016

Note to the consolidated financial statements

For the year ended 31 march 2016 revenue notes 2016 nZ$ 2015 nZ$ operating revenue sale of goods   20   1,421,795   – distribution fees 20, 21 150,000 – total operating revenue 1,571,795 – other income 1,386 – gain on forgiveness of debt recovery on liquidation group subsidiaries 19 1,071,677 –   12,058 recovery of loans receivable – 2961 1,073,063 15,019 total Income 2,644,858 15,019 Expenses 2016 nZ$ 2015 nZ$ Profit / (loss) before income tax has been determined after: Accounting … Continue reading

August 30, 2016

Consolidated statement of cash flows

For the year ended 31 march 2016 notes 2016 nz$ 2015 nz$ Cash Flows From operating activites Cash was received from: receipts from customers   877,427   12,058 interest income 18,141 811 other receipts 1,386 – Cash was applied to: payments to suppliers and employees   (3,334,581)   (78,687) interest costs (4) (51) net cash outflow from operating activities 19 (2,437,631) (65,869) Cash Flows From investing activities Cash was received from: proceeds from loans receivable   –   100,839 Cash was applied to: purchase of property, plant and equipment   13   (66,676)   – purchase of national dairy group distribution right Agreement … Continue reading

August 30, 2016

Consolidated statement of financial position

For the year ended 31 march 2016 notes 2016 nZ$ 2015 nZ$ ShArEholdErS EQuItY issued share capital 6 25,540,835 23,288,552 Accumulated loss (23,810,182) (24,284,288) total Equity attributable to shareholders of the company 1,730,653 (995,736) non-controlling interest 7 1,151,152 – total shareholders funds / (deficit) 2,881,805 (995,736) Represented  by: CurrEnt ASSEtS Cash and cash equivalents   8   688,988   81,601 trade and other receivables 9 655,685 14,936 related parties receivable 10 380,683 – inventories 11 896,924 – prepayments and other current assets 12 913,244 20,118 total current assets 3,535,524 116,655 non-CurrEnt ASSEtS … Continue reading

August 30, 2016

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

For the year ended 31 march 2016 Group   notes Share Capital nZ$ Accumulated loss nZ$ Equity holders nZ$ non-controlling Interest nZ$ total Equity nZ$ Balance at 31 march 2014   23,244,376 (24,165,435) (921,059) – (921,059) net loss / comprehensive income for the year   – (118,853) (118,853) – (118,853) transactions with owners ordinary shares issued   6   150,000   –   150,000   –   150,000 share issue costs 6 (105,824) – (105,824) – (105,824) … Continue reading

August 30, 2016

Consolidated statement of comprehensive income

For the year ended 31 march 2016 notes 2016 nZ$ 2015 nZ$ Income operating revenue 2 1,571,795 – Cost of sales (1,367,500) – Gross profit 204,295 – other income 2 1,073,063 15,019 Expenses selling and distribution expenses 3 (26,816) – Administration expenses 3 (690,335) (71,871) Amortisation of intangible assets 15 (113,624) – total expenses (830,775) (71,871) operating profit / (loss) before financing costs and taxation benefit 446,583 (56,852) Finance income 3 18,141 1,742 Finance expense 3 (15,466) (63,743) 2,675 … Continue reading

August 30, 2016

Corporate Governance Statement

The Board of Directors (“the Board”) of Australasian Food Corporation Limited (“AFC”, “the Company”) recognises the need for strong corporate governance practices and has adopted a comprehensive corporate governance code The Board believes that the corporate governance structures and practices encourage the creation of value for AFC shareholders whilst ensuring the highest standards of ethical … Continue reading

August 29, 2016