TTA HOLDINGS LIMITED For personal use only
ASX ANNOUNCEMENT 29 July 2022
Appendix 4C and Quarterly Activities
Report
The Board of Directors of TTA Holdings Limited (ASX: TTA or "Company") releases its cash flow report (Appendix 4C) for the quarter ending 30 June 2022 ("the quarter") and provides an update on activities during the quarter.
QUARTERLY ACTIVITIES REPORT
Principal Activities
The principal activity of the Company in the course of the quarter was the distribution of TEAC branded audio and visual consumer electronics products in Australia. There have been no significant changes in the principal activities of the Company during the quarter.
Summary of revenue and expenditure incurred
For the June quarter, sales revenue of $109.9k was lower than the previous quarter; ($177.9K in Mar 2022). Stock purchased arrived last week of June 2022.
Of the cash outflow of $1.8 million for the quarter ended June 2022, $1.5 million was full payment to suppliers for Smart TVs and other audio products.
Inventory on hand increased from $0.37 million in March 2022 to $2.04 million in the reporting period. For the past four months, E-commerce system specialists were engaged to install and implement the system. To date, system upgrades and enhancements are an ongoing process. TEAC products are currently marketed to various online digital platforms in addition to the TEAC website store. The new business model adopted by the Company began trading on 1 July 2022.
Related party payments made during the quarter
The payments to, or to an associate of, a related party of the Company during the quarter amounted to $95k which consists of the shipment inspection fee, restructure fee, and Director fees.
TTA HOLDINGS LIMITED A.B.N.18 110 475 799 | Page 1 |
For personal use only
The release of this announcement was authorised by the Board of Directors of the Company.
About TTA HOLDINGS LIMITED
TTA HOLDINGS LIMITED (ASX: TTA) is a company incorporated and domiciled in Australia. The operating subsidiary of the Company is solely TEAC Australia Pty Ltd that has been around since 1978. The main activity is wholesale of Consumer Electronic products.
TEAC continues to focus on lifestyle Digital Audio products targeting the younger, youth, and millennial market segment. TEAC introduced the innovative premium TEAC QLED 4k UHD Smart television and is the first Premium AV brand to introduce the Smart Android DVD combo LED Television targeting the 12V "Caravan" market segment. These TVs come equipped with DVB-S Satellite connectivity, wide viewing angle, and Bluetooth.
For further enquiries please contact:
Ahamad Abdullah - Chief Executive Officer
Ahamad@teac.com.au
- END -
TTA HOLDINGS LIMITED A.B.N.18 110 475 799 | Page 2 |
Appendix 4C
For personal use only
Quarterly cash flow report for entities subject to Listing Rule 4.7B
Name of entity
TTA HOLDINGS LIMITED
ABN | Quarter ended ("current quarter") |
18 110 475 799 | 30 June 2022 |
Consolidated statement of cash flows | Current quarter | Year to date | ||
$A '000 | (3 months) | |||
$A '000 | ||||
1. | Cash flows from operating activities | |||
1.1 | Receipts from customers | 282 | 282 | |
1.2 | Payments for | |||
(a) | research and development | - | - | |
(b) product manufacturing and operating | (1,492) | (1,492) | ||
costs | ||||
(c) | advertising and marketing | (26) | (26) | |
(d) | leased assets | (21) | (21) | |
(e) | staff costs | (134) | (134) | |
(f) | administration and corporate costs | (118) | (118) | |
1.3 | Dividends received (see note 3) | - | - | |
1.4 | Interest received | 30 | 30 | |
1.5 | Interest and other costs of finance paid | (7) | (7) | |
1.6 | Income taxes paid | - | - | |
1.7 | Government grants and tax incentives | - | - | |
1.8 | Other (Cost of staff re-structuring) | (27) | (27) | |
1.9 | Net cash from / (used in) operating | (1,513) | (1,513) | |
activities | ||||
2. | Cash flows from investing activities | |||
2.1 | Payments to acquire: | |||
(a) | entities | - | - | |
(b) | businesses | - | - | |
(c) | property, plant and equipment | - | - | |
(d) | investments | - | - | |
(e) | intellectual property | - | - |
TTA HOLDINGS LIMITED A.B.N.18 110 475 799 | Page 3 |
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Consolidated statement of cash flows | Current quarter | Year to date | ||
$A'000 | (3 months) | |||
$A'000 | ||||
(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 | - | - | |
activities | ||||
3. | Cash flows from financing activities | |||
3.1 | Proceeds from issues of equity securities | - | - | |
(excluding convertible debt securities) | ||||
3.2 | 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 | - | - | |
3.6 | Repayment of borrowings | - | - | |
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 | - | - | |
activities |
4. Net increase / (decrease) in cash and cash equivalents for the period
4.1 | Cash and cash equivalents at beginning of | 1,993 | 1,993 | ||
period | |||||
4.2 | Net cash from / (used in) operating | (1,513) | (1,513) | ||
activities (item 1.9 above) | |||||
TTA HOLDINGS LIMITED | A.B.N.18 110 475 799 | Page 4 |
For personal use only
Consolidated statement of cash flows | Current quarter | Year to date | |
$A'000 | (3 months) | ||
$A'000 | |||
4.3 | Net cash from / (used in) investing activities | - | - |
(item 2.6 above) | |||
4.4 | Net cash from / (used in) financing activities | - | - |
(item 3.10 above) | |||
4.5 | Effect of movement in exchange rates on | - | - |
cash held | |||
4.6 | Cash and cash equivalents at end of | 480 | 480 |
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 | 479 | 1,993 |
5.2 | Call deposits | - | - |
5.3 | Bank overdrafts | - | - |
5.4 | Other (petty cash) | 1 | - |
5.5 | Cash and cash equivalents at end of | 480 | 1,993 |
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 | 95 | |
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
TTA HOLDINGS LIMITED A.B.N.18 110 475 799 | Page 5 |
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TTA Holdings Limited published this content on 29 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 July 2022 05:13:06 UTC.
