Property Connect : Quarterly Activities/Appendix 4C Cash Flow Report

Property Connect Holdings Limited (ABN 27 091 320 464) | propertyconnect.com Suite 3 Level 8 20 Bridge St, Sydney NSW 2000 | PO Box 3003, Parramatta NSW 2124

For personal use only

7 February 2022

ASX Announcement

Appendix 4C for the quarter ended 30 September 2021

Property Connect Holdings Limited (ASX:PCH) ('Property Connect' or 'the Company') today lodged its Appendix 4C quarterly report of cash flows for the quarter ended 30 September 2021 with the Australian Securities Exchange (ASX).

Property Connect reported a cash balance of $58,000 at 30 September 2021.

Net operating cash flow for the quarter was ($31,000) representing the Company's ongoing operational activities. There were no related party payments during the period. Shareholders advanced $50,000 by way of a loans on 16 July 2021 and 20 July 2021to assist with ongoing support for the business' operations.

There were no substantial business activities during the period. Operational costs continued to be kept to a minimum during the period while the Company continued to seek a transaction which will satisfy Chapters 1 and 2 of the Listing Rules and the ASX's requirement for reinstatement to the Official List. Whilst the Company continues to seek a transaction which will satisfy these requirements, there is no guarantee that the securities of the Company will be reinstated and if so, when.

This announcement has been authorised for release by the Board.

Yours faithfully,

Gerardo Incollingo

Company Secretary

For personal use only

Rule 4.7B

Appendix 4C

Quarterly cash flow report for entities subject to Listing Rule 4.7B

Name of entity

PROPERTY CONNECT HOLDINGS LIMITED

ABN	Quarter ended ("current quarter")
22 091 320 464	30 September 2021
Consolidated statement of cash flows	Current quarter	Year to date
	$A'000	(12 months)
		$A'000

1. Cash flows from operating activities

1.1 Receipts from customers

1.2 Payments for

(a) research and development

1. product manufacturing and operating costs

	(c)	advertising and marketing
	(d)	leased assets
	(e)	staff costs
	(f)	administration and corporate costs	(30)	(30)
1.3	Dividends received (see note 3)
1.4	Interest received
1.5	Interest and other costs of finance paid	(1)	(1)
1.6	Income taxes paid
1.7	Government grants and tax incentives

1.8 Other (provide details if material) - fines & penalties

1.9 Net cash from / (used in) operating	(31)	(31)
activities

1.2 (f) Includes GST Refunds of three quarters.

2. Cash flows from investing activities

2.1 Payments to acquire:

(a) entities

(b) businesses

(c) property, plant and equipment

(d) investments

ASX Listing Rules Appendix 4C (01/12/19)	Page 1
+ See chapter 19 of the ASX Listing Rules for defined terms.

For personal use only

Appendix 4C

Quarterly cash flow report for entities subject to Listing Rule 4.7B

Consolidated statement of cash flows	Current quarter	Year to date
			$A'000	(12 months)
				$A'000
	(e)	intellectual property
	(f)	other non-current assets
2.2	Proceeds from disposal of:
	(a)	entities
	(b)	businesses
	(c)	property, plant and equipment
	(d)	investments
	(e)	intellectual property
	(f)	other non-current assets
2.3	Cash flows from loans to other entities
2.4	Dividends received (see note 3)
2.5	Other (provide details if material)
2.6	Net cash from / (used in) investing	0	0
	activities

3. Cash flows from financing activities

1. Proceeds from issues of equity securities (excluding convertible debt securities)
2. Proceeds from issue of convertible debt securities

3.3 Proceeds from exercise of options

3.4 Transaction costs related to issues of equity securities or convertible debt securities

3.5	Proceeds from borrowings	50	50
3.6	Repayment of borrowings	(11)	(11)

3.7 Transaction costs related to loans and borrowings

3.8 Dividends paid

3.9 Other (provide details if material)

3.10 Net cash from / (used in) financing	39	39
activities

4. Net increase / (decrease) in cash and cash equivalents for the period

4.1 Cash and cash equivalents at beginning of

	period	50	50
4.2	Net cash from / (used in) operating	(31)	(31)
	activities (item 1.9 above)

ASX Listing Rules Appendix 4C (01/12/19)	Page 2
+ See chapter 19 of the ASX Listing Rules for defined terms.

Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B

For personal use only

Consolidated statement of cash flows	Current quarter	Year to date
		$A'000	(12 months)
			$A'000
4.3	Net cash from / (used in) investing activities	0	0
	(item 2.6 above)
4.4	Net cash from / (used in) financing activities	39	39
	(item 3.10 above)
4.5	Effect of movement in exchange rates on	0	0
	cash held
4.6	Cash and cash equivalents at end of	58	58
	period
5.	Reconciliation of cash and cash	Current quarter	Previous quarter
	equivalents	$A'000	$A'000
	at the end of the quarter (as shown in the
	consolidated statement of cash flows) to the
	related items in the accounts
5.1	Bank balances	58	58
5.2	Call deposits
5.3	Bank overdrafts
5.4	Other (provide details)
5.5	Cash and cash equivalents at end of	58	58
	quarter (should equal item 4.6 above)

6.	Payments to related parties of the entity and their	Current quarter
	associates	$A'000
6.1	Aggregate amount of payments to related parties and their	0
	associates included in item 1

6.2 Aggregate amount of payments to related parties and their associates included in item 2

Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments

ASX Listing Rules Appendix 4C (01/12/19)	Page 3
+ See chapter 19 of the ASX Listing Rules for defined terms.

Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B

only

7. Financing facilities

Note: the term "facility' includes all forms of financing arrangements available to the entity.

Add notes as necessary for an understanding of the sources of finance available to the entity.

1. Loan facilities
2. Credit standby arrangements
3. Other (please specify)
4. Total financing facilities

Total facility	Amount drawn at
amount at quarter	quarter end
end	$A'000
$A'000

5050

5050

For personal use

7.5

Unused financing facilities available at quarter end

0

7.6 Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or unsecured. If any additional financing facilities have been entered into or are proposed to be entered into after quarter end, include a note providing details of those facilities as well.

Loans advanced:

$25,000 Loan advanced by JGM Property Investments Pty Ltd $25,000 Loan advanced by Sixty Two Capital Pty Ltd

8.	Estimated cash available for future operating activities	$A'000
8.1	Net cash from / (used in) operating activities (Item 1.9)	(31)
8.2	Cash and cash equivalents at quarter end (Item 4.6)	58
8.3	Unused finance facilities available at quarter end (Item 7.5)	0
8.4	Total available funding (Item 8.2 + Item 8.3)	58
8.5	Estimated quarters of funding available (Item 8.4 divided by	1.87
	Item 8.1)

8.6 If Item 8.5 is less than 2 quarters, please provide answers to the following questions:

1. Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not?

Answer: Operating cash flow for the September quarter includes the annual ASX Listing Fee of $25,000 license for 2022 year, therefore expected operating cash flow requirement for the next two quarters is $65,000.

2. Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful?

Answer: The Shareholders advanced $50,000 by way of a loan 23rd December 2021 and a further $25,000 13th January 2022 to assist with ongoing support for the business's operations. Further refunds from GST are also expected. Shareholders will provide further support if required.

3. Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis?

Answer: The business is confident it will continue to meet its objectives as optimistic business opportunities are in the pipeline.

ASX Listing Rules Appendix 4C (01/12/19)	Page 4
+ See chapter 19 of the ASX Listing Rules for defined terms.