| Notes |
KNEOMEDIA LIMITED
(formerly Entellect Limited)
(ASX:KNM)
ASX and Media Release
28 August 2015
Appendix 4E – Preliminary Final Results
KNeoMedia Limited (formerly Entellect Limited) (KNeoMedia or the Company) advises shareholders of
its preliminary final results for the Company and its controlled entities (the Group) in respect of the
financial year ended 30 June 2015 (FY15 or the year) as follows:
Preliminary FY15 results
The Group’s results for the year ended 30 June 2015 reflect the continued investment by the Group in
developing and commercialising its KNeoWORLD Games Portal and in expanding its sales and marketing
activities. During the year, the Group continued to raise funds from existing and new shareholders to fund
these activities.
The Group incurred a loss for the year of $1,630,948 (2014: Loss $1,764,265) primarily attributable to the
receipt of other income $607,456 under the Australian Government’s Research and Development Tax
Incentive Program and the containment of employee benefits cost and operating cost. Included in the
result was a non-cash loss on movement in the fair value of embedded derivatives option of $221,665.
Whilst the Group did not have any revenue for FY15, during the year, the Company took steps to improve
its cash flow position by streamlining corporate costs, raising further equity capital, and successfully
applying for Government grants for its research and development activities.
In FY15, KNeoMedia received significant support from existing shareholders and new investors for its
capital raising activities, and raised a total of $1,250,000 via share placement and issue of convertible
notes which allowed the Group to fund its business development objectives.
During the year, the Company continued as a participant in the Australian Government’s Research and
Development Tax Incentive Program and as a result a tax refund of $483,000 is expected to be received
from ATO by end of August 2015 for the research and development activities undertaken in FY15. |