TIDMFTE
Half-year Report
Forte Energy NL
ACN 009 087 852
AIM Release
10 June 2016
HALF-YEAR REPORT
Forte Energy NL ("Forte Energy" or "The Company") (ASX/AIM: FTE) advises that it has released its Half-Year
Financial Report for 2015. The report is available electronically in pdf format for downloading at the
Company's website (www.forteenergy.com.au).
..........
Murray Wylie
Company Secretary
For further information contact:
Mark Reilly, Managing Director
Forte Energy NL Tel: +61 (0) 8 9322 4071
Oliver Morse
RFC Ambrian Ltd Tel: +61 (0) 8 9480 2500
(AIM Nominated Adviser to the Company)
Forte Energy NL
Suite 3, Level 3
1292 Hay Street
West Perth WA 6005
Ph: +61 (0)8 9322 4071
Fax: +61 (0)8 9322 4073
Email: info@forteenergy.com.au
Web: www.forteenergy.com.au
Forte Energy NL
ABN 59 009 087 852
SUMMARY FINANCIAL STATEMENTS
HALF-YEAR FINANCIAL REPORT
31 DECEMBER 2015
Forte Energy NL
Suite 3 Level 3
1292 Hay Street
West Perth WA 6005
AUSTRALIA
FORTE ENERGY NL
(ABN 59 009 087 852)
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE HALF-YEARED 31 DECEMBER 2015
Notes 2015 2014
$ $
Revenue 4 808 504
Other income 5 - 144
Expenses 6 (1,777,415) (2,627,152)
Loss before income tax (1,776,607) (2,626,504)
Income tax expense - -
Loss after income tax (1,776,607) (2,626,504)
Net loss for the period (1,776,607) (2,626,504)
Other comprehensive profit/(loss)
Items that may be reclassified subsequently to profit and loss:
Foreign currency translation 4,037 (8,371)
Other comprehensive profit/(loss) for the period net of tax 4,037 (8,371)
(1,772,570) (2,634,875)
TOTAL COMPREHENSIVE LOSS FOR THE PERIOD ATTRIBUTABLE TO
MEMBERS OF FORTE ENERGY NL
Loss per share attributable to the ordinary equity
holders of the Company (cents per share)
- basic loss per share (0.04) (0.15)
- diluted loss per share (0.04) (0.15)
This statement of comprehensive income should be read in conjunction with the accompanying notes.
FORTE ENERGY NL
(ABN 59 009 087 852)
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2015
Notes 31 December 2015 30 June 2015
$ $
ASSETS
Current Assets
Cash and cash equivalents 7 80,650 215,095
Trade and other receivables 9 67,280 261,736
Prepayments 6,972 23,615
Held for trading 16 46,291 106,578
Total Current Assets 201,193 607,024
Non-current assets
Available-for-sale financial assets 16 11,644 12,892
Exploration and evaluation expenditure 10 - 444,383
Plant and equipment 11 8,624 29,036
Total Non-Current Assets 20,268 486,311
TOTAL ASSETS 221,461 1,093,335
LIABILITIES
Current Liabilities
Trade and other payables 224,401 630,284
Income tax payable 36,768 37,218
Provisions 45,576 45,976
Loan from related party 18 45,962 23,839
Derivative financial liability 13 217,694 620,886
Total Current Liabilities 570,401 1,358,203
Non-Current Liabilities
Convertible loan notes 13 490,134 743,565
Derivative financial instruments - Warrants 17 4,799 132,085
Provisions 25,920 24,119
Total Non-Current Liabilities 520,853 899,769
TOTAL LIABILITIES 1,091,254 2,257,972
NET LIABILITIES (869,793) (1,164,637)
EQUITY
Issued capital 14 95,548,136 93,480,722
Reserves 2,208,056 2,204,019
Accumulated losses (98,625,985) (96,849,378)
TOTAL DEFICIENCY (869,793) (1,164,637)
This statement of financial position should be read in conjunction with the accompanying notes.
FORTE ENERGY NL
(ABN 59 009 087 852)
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE HALF -YEARED 31 DECEMBER 2015
Contributed Accumulated Equity Foreign Total
equity losses benefits currency equity
reserve translation
$ $ $ $ $
At 1 July 2015 93,480,722 (96,849,378) 2,521,606 (317,587) (1,164,637)
- (1,776,607) - - (1,776,607)
Loss for the period
Other comprehensive income - - - 4,037 4,037
Total comprehensive income for the - (1,776,607 - 4,037 (1,772,570)
half-year net of tax )
Equity transactions:
Issue of ordinary shares 2,075,503 - - - 2,075,503
Transaction costs (8,089) - - - (8,089)
Balance at 95,548,136 (98,625,985) 2,521,606 (313,550) (869,793)
31 December 2015
At 1 July 2014 89,160,792 (62,187,922) 2,521,606 (355,215) 29,139,261
- (2,626,504) - - (2,626,504)
Loss for the period
Other comprehensive income - - - (8,371) (8,371)
Total comprehensive income for the - (2,626,504 - (8,371) (2,634,875)
half-year net of tax )
Equity transactions:
Issue of ordinary shares 3,316,830 - - - 3,316,830
Transaction costs (37,753) (37,753)
Balance at 92,439,869 (64,814,426) 2,521,606 (363,586) 29,783,463
31 December 2014
This statement of changes in equity should be read in conjunction with the accompanying notes.
FORTE ENERGY NL
(ABN 59 009 087 852)
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE HALF-YEAR ENDED 31 DECEMBER 2015
2015 2014
$ $
Cash flows from operating activities
Payments to suppliers and employees (307,792) (417,735)
Interest and other income received 808 489
Interest and other costs of finance paid - (73,169)
Net cash flows used in operating activities (306,984) (490,415)
Cash flows from investing activities
Payment for 50% equity investment in Slovak entities - (639,630)
Payment for exploration and evaluation expenditure (6,738) (32,607)
Proceeds from sale of held for trading investments - 397,577
Net cash flows used in investing activities (6,738) (274,660)
Cash flows from financing activities
Proceeds from borrowings 174,458 1,160,140
Repayment of borrowings - (2,213)
Proceeds from issue of shares - 320,000
Transaction costs on issue of shares - (14,658)
Net cash flows from financing activities 174,458 1,463,269
Net increase in cash and cash equivalents (139,264) 698,194
Effects of exchange rate changes on cash and cash equivalents 4,819 3,957
Cash and cash equivalents at beginning of the period 215,095 92,467
Cash and cash equivalents at end of period 80,650 794,618
This statement of cash flow should be read in conjunction with the accompanying notes.
Please note that the complete Half-Year Report is available at the Company's website:
www.forteenergy.com.au
Forte Energy NL
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