Cirrus : App 4D - H1 FY22 Financials

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Cirrus

Networks

APPENDIX 4D

ENTITY NAME	Cirrus Networks Holdings Limited (CNW)
ABN	98 103 348 947
INTERIM REPORTING PERIOD	31 December 2021

CONTENTS

1. Results for announcement to the market
2. Net tangible assets per ordinary share
3. Details of entities over which control has been gained during the period
4. Details of entities over which control has been lost during the period
5. Dividends
6. Details of associates and joint venture entities
7. Audit qualification or review
8. Attachments
9. Signature

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1. Results for announcement to the market

				UP/(DOWN)			TO
				(%)			($)
	Revenues from ordinary activities	(17%)	44,534,523
	Profit / (Loss) from ordinary activities before tax attributable to the owners			(319%)			(2,210,676)
	of Cirrus Networks Holdings Limited

The net profit/(loss) for the Group before income tax amounted to a loss of $2,210,676 (31 December 2020: $1,008,358 Profit).

		Q1 HY22			Q2 HY22			HY ENDED			HY ENDED
		Pre restructure			Post restructure			31 DEC 2021			31 DEC 2020
		($)			($)			($)			($)
NORMALISED EBITDA		(789,508)			445,935			(343,573)			1,225,288
Foreign exchange	(46,417)	10,880	(35,537)		(12,646)
EBITDA (PRE-OPTIONS)		(835,925)			456,815			(379,110)			1,212,642
JobKeeper incentive	-		-		-		1,634,800
One off corporate transaction fees		(561,364)			(46,689)			(608,053)			-
Redundancy and business restructure costs	(513,775)	-		(513,775)		(99,152)
Amortisation and depreciation		(183,374)			(185,724)			(369,098)			(357,689)
Amortisation - Right-of-use asset	(194,259)	(194,259)	(388,518)		(371,769)
Net Interest		(35,522)			(73)			(35,595)			(611,137)
Share based options expensed	99,983	(16,510)	83,473		(399,337)
STATUTORY NET PROFIT/(LOSS) AFTER TAX		(2,224,236)			13,560			(2,210,676)			1,008,358

2. Net tangible assets per ordinary share

		31-Dec-21			30-Jun-21
		($)			($)
Net tangible assets per ordinary share		0.027			0.042

3. Details of entities over which control has been gained during the period

Gain of control of entities during the period - Nil.

4. Details of entities over which control has been lost during the period

Loss of control of entities during the period - Nil.

5. Dividends

There were no dividends paid, recommended, or declared during the current financial period.

6. Details of associates and joint venture entities

Equity accounted Associates and Joint Venture Entities - Nil.

7. Audit qualification or review

Details of audit/review dispute or qualification (if any):

The financial statements have been audited and an unqualified review opinion has been issued.

Cirrus Networks Holdings Limited - ABN 98 103 348 947	1
Appendix 4D and Half Year Report

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8. Attachments

Details of attachments (if any):

The Interim Financial Report of Cirrus Networks Holdings Limited for the half year ended 31 December 2021 is attached.

9. Signed

DATE: 28th February 2022

Christopher McLaughlin

Signature:

CEO & Managing Director

Cirrus Networks Holdings Limited - ABN 98 103 348 947	2
Appendix 4D and Half Year Report

For personal use only

Cirrus

Networks

INTERIM FINANCIAL REPORT - 31 DECEMBER 2021

Cirrus Networks Holdings Limited

ABN: 98 103 348 947

For personal use only

Contents

DESCRIPTION		PAGE
Directors' Report		5
Auditor's Independence Declaration		7
Consolidated Statement of Profit or Loss and Other Comprehensive Income		8
Consolidated Statement of Financial Position		9
Consolidated Statement of Changes in Equity		10
Consolidated Statement of Cash Flows		11
Notes to the Consolidated Financial Statements		12
Directors' Declaration		17
Independent Auditor's Review Report		18

This interim financial report does not include all the notes of the type normally included in an annual financial report. Accordingly, this report is

to be read in conjunction with the annual report for the year ended 30 June 2021 and any public announcements made by Cirrus Networks Holdings Limited during the interim reporting period in accordance with the continuous disclosure requirements of the Corporations Act 2001.

Cirrus Networks Holdings Limited - ABN 98 103 348 947	4
Appendix 4D and Half Year Report