Quarterly Activities Report
Sydney, July 31, 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 30 June 2023 (4Q23).
Group Cash Flow Activities Report
- Cash at the end of the quarter was $2.426 million (with $0.212 million restricted).
- During the quarter $0.115 million in cash receipts were received from customers. The company receives most of its annual revenue (on a cash basis) in the September quarter.
- Cash payments for administration costs for the quarter:
o $0.591 million, which is less as compared with $1.064 million in the March quarter that included annual and once off cash payments. The administration expenses in the March quarter included significant payments for:
- ASIC industry funding levy fees approximately $300K;
- KG Capital (placement fee) of approximately $97K.
- Supplier payments of $65K
- Cash payments to staff, corporate and the Board for the period were $0.44 million which represents a small increase compared to the previous quarter due to pay increases to employees in current quarter.
NSX Limited Corporate Activities
- Directors, being related parties of the Company, for the purposes of this report, were paid remuneration in the amount of $88.4K during the June quarter. No other related party payments were made. This is an increase from the last quarter payment of 85k due to the timing of cash payments.
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 during the period:
- The parties completed the review of a draft Joint Venture agreement, and scope of works included in the purchase order and related documents. The draft remains unsigned as the agreements and associated documents are under review by relevant ministers in the Kingdom.
- When the agreement is finalised and executed, 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 up until the launch of the mining exchange.
ClearPay Joint Venture Activities
- DESS Digital Ledger Technology system continues to operate with no downtime.
National Stock Exchange 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.
- The market environment for new listings has been challenging including increased competition, availability of funds to Issuers for public offerings and general economic conditions.
- NSXA is increasing its business development activities and marketing personnel.
- NSXA receives enquiries and suitability for listing submissions and these activities can take time to progress depending on the applicant and the documentation submitted.
- 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.
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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.