ISignthis : Appendix 4E and 2021 Financial Statements

For personal use only

Full Year 2021 Appendix 4E and Financial Statements

Melbourne, 28th February 2022: iSignthis Ltd (the Company), and its subsidiaries (the Group) are pleased to present their full year 2021 financial statements and Appendix 4E.

During the period the Group incurred a loss of circa $2.5 million, due to increased legal and advisory costs during the period (up $1.7 million to $3.8 million) as a result of costs due to the demerger and the ongoing costs related to both the ASX and ASIC legal cases, combined with a lower profit from discontinued operations.

The loss for the year from continuing operations was $5.6 million, whilst separately discontinued operations, which includes the results of ISX Financial EU Plc and its subsidiaries, made a profit of $3.1 million for the ten and a half months to the demerger date.

Business Update

With the demerger completed in 2021, the Company continues to focus on its ongoing legal action against the Australian Securities Exchange (ASX).

As previously announced, the Company holds principal membership licenses from several major card schemes. The Group is in the early stages of rebuilding its Australian strategy and will now look as to how it can monetise these licenses for future growth.

ASIC and ASX Federal Court Cases

Shareholders may receive updates regarding the Federal Court timetable by accessing the court orders and subscribing to notifications from the Court at https://www.comcourts.gov.au/using reference numbers VID773/2020 and VID1315/2019.

Authorised by the Board of Directors

iSignthis Ltd, ABN 93 075 419 715, Level 7, 232 Victoria Pde, East Melbourne, 3002, Victoria, Australia [e-mail]

iSignthis Ltd

Appendix 4E Preliminary final report

1. Company details

	Name of entity:	iSignthis Ltd
	ABN:	93 075 419 715
	Reporting period:	For the year ended 31 December 2021
	Previous period:	For the year ended 31 December 2020
	2. Results for announcement to the market
only					$
	R v nues from ordinary activities (continuing operations)				Nil
	Loss from ordinary activities after tax attributable to the owners of iSignthis
	Ltd (continuing operations)		down	25%	to	(5,644,652)
	Profit from discontinued operations after tax attributable to the owners of
	iSignthis Ltd		down	51%		3,127,762
use
	Loss for the year attributable to the owners of iSignthis Ltd	down	unfavourable	to	(2,516,890)
	Dividends
	There were no dividends paid, recommended or declared during the current financial period.
personal

Comments

The loss for the consolidated entity after providing for income tax and non-controlling interest amounted to $2,530,615 (31 December 2020: profit $1,360,728). During the period the Group incurred a loss due to the demerger of ISX Financial EU Plc on 18 October 2021. C mbined with increased corporate expenses due to the demerger of ISX Financial EU Plc during the year and the Company's ongoing legal cases.

3. N t tangible assets

		Reporting		Previous
		period		period
		Cents		Cents
	Net tangible assets per ordinary security	0.86	1.69
For
	4. Control gained over entities

Not applicable.

5. Loss of control over entities

Effective 18 October 2021, the Company completed the demerger of ISX Financial EU Plc and its subsidiaries, which included Authenticate Pty Ltd, Authenticate BV, ClearPay Pty Ltd, ISX IP Ltd, ISX Technologies Inc., ISX Financial UK Ltd, iSignthis BV, ISX Holdings Ltd, Authenticate Solutions Pty Ltd, Probanx Information Systems Ltd and UAB Probanx Solutions. The results of ISX Financial EU Plc and its subsidiaries form the 'discontinued operations' of the Group. Discontinued operations contributed a profit after tax of $3.1 million for the year ended 31 December 2021 and $5.9m for the year ended 31 December 2020.

iSignthis Ltd

Appendix 4E Preliminary final report

	6. Dividends
	Current period
	There were no dividends paid, recommended or declared during the current financial period.
	Previous period
	There were no dividends paid, recommended or declared during the previous financial period.
only
	7. Dividend reinvestment plans
	Not applicable.
	8. Details of associates and joint venture entities
use		Ownership	Ownership	Investment in	Investment in
	Name of	Principal	interest	interest	Associate	Associate
	Company	activity	31 Dec 21	31 Dec 20	31 Dec 21	31 Dec 20
			%	%
	NSX Limited	Tier1 Securities Exchange	-	19.22%	-	5,512,073
personal

Effective 18 October 2021, the Company completed the demerger of ISX Financial EU Plc, the investment in NSX Limited was owned by the demerged Group.

9. Foreign entities

Details of origin of accounting standards used in compiling the report:

Not applicable.

10. Audit qualification or review

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

ForThe Company's auditors BDO Audit Pty Ltd are yet to finalise the audit for the financial year ended 31 December 2021.

11. Attachments

Details of attachments (if any):

The Annual Report of iSignthis Ltd for the year ended 31 December 2021 is attached.

iSignthis Ltd

Appendix 4E Preliminary final report

12. Signed

only	Date: 28 February 2022
Sig ed ___________________________
Tim thy Hart
Executive Chairman
For personal use

For personal use only

iSignthis Ltd

Financial Statements

31 December 2021