Accelerate Resources Limited (ASX:AX8) Annual Report 2021



The latest annual report of Accelerate Resources Limited (AX8) was published on 30 Jun 2021. An annual report is a document that public corporations must provide annually to shareholders that describes their operations and financial conditions. Typically, an annual report will contain sections such as General corporate information, Operating and Financial highlights, Letter to shareholders from the CEO, Financial statements etc.

Key Statistics - AX8 Annual Results

Amounts in AUD

Total Revenue
110.32k
Gross Profit
110.32k
EBIT
-3.45M
Net Tangible Assets
3.64M
Net Income
-3.37M
Capital Expenditures
-401.48k

AX8 Income Statement 2021 Annual Report

As per the latest Income Statement of AX8, the Net revenue increased by $43494 (65%) compared to the previous period. The operating income in 2021 decreased by $-2.00M (-139%). The net income as per the annual report was -3.37M which decreased by $-1.87M (-124%) compared to previous year.

Income Statement Report (2021/2020)

20212020
Total Revenue110.32k66.83k
Gross Profit110.32k66.83k
Operating Income-3.45M-1.45M
Income Before Tax-3.37M-1.51M
Net Income-3.37M-1.51M

Balance Sheet - AX8 2021 Annual Report

Read further: AX8 Balance Sheet Detailed Analysis

The latest balance sheet from annual result of Accelerate Resources Limited showed the company increased the cash on balance sheet by $1.08M (687%). The Net tangible assets of AX8 on the balance sheet were at 3.64M which is $296999 (9%) more than previous annual report. The total stockholder equity also increased by $296999 (9%) compared to previous reporting period.

Balance Sheet Statement Report (2021/2020)

20212020
Cash1.23M156.61k
Total Assets3.78M 3.53M
Long Term Debt--
Total Liabilities143.87k 186.15k
Total Shareholder Equity3.64M3.34M
Net Tangible Assets3.64M3.34M

Cash Flow Statement - AX8 2021 Annual Report

The 2021 annual cash flow statement of Accelerate Resources Limited showed that the net income decreased by $-1.87M (-124%) compared to previous reporting period. Also the capital expenditure of AX8 decreased by $-60225 (-18%).

As of 2021, the total cash from investing activities was -816.05k and total cash from financing activities was 2.53M.

Cash Flow Statement Report (2021/2020)

20212020
Net Income-3.37M-1.51M
Capital Expenditures-401.48k-341.25k
Dividends Paid--
Total Cash From From Investing Activities-816.05k-136.58k
Total Cash From From Financing Activities2.53M283.27k

Accelerate Resources Limited Annual Report History

Income Statement

Income Statement history of Accelerate Resources Limited (ASX:AX8)

30 Jun 202130 Jun 202030 Jun 201930 Jun 2018
Total Revenue110.32k66.83k--
Cost Of Revenue----
Gross Profit110.32k66.83k--
Research Development----
Selling General Administrative833.26k693.67k966.72k726.39k
Non Recurring----
Other Operating Expenses158.55k218.09k127.63k89.68k
Total Operating Expenses3.56M1.51M1.76M816.3k
Operating Income-3.45M-1.45M-1.76M-816.3k
Total Other Income Expense Net74.21k-60.11k46.04k-51.45k
Ebit-3.45M-1.45M-1.76M-816.3k
Interest Expense----
Income Before Tax-3.37M-1.51M-1.72M-867.75k
Income Tax Expense----
Minority Interest----
Net Income From Continuing Ops-3.37M-1.51M-1.72M-867.75k
Discontinued Operations----
Extraordinary Items----
Effect Of Accounting Charges----
Other Items----
Net Income-3.37M-1.51M-1.72M-867.75k
Net Income Applicable To Common Shares-3.37M-1.51M-1.72M-867.75k

Balance Sheet Statement

Balance Sheet Statement history of Accelerate Resources Limited (ASX:AX8)

30 Jun 202130 Jun 202030 Jun 201930 Jun 2018
Cash1.23M156.61k683.24k3.43M
Short Term Investments60k27.38k86.38k51k
Net Receivables9.26k19.26k19.77k83.17k
Other Current Assets1M-200k-
Total Current Assets2.31M213.02k989.38k3.57M
Property Plant Equipment917.81k3.31M3.29M2.71M
Other Assets549.57k---
Total Assets3.78M3.53M4.28M6.28M
Accounts Payable11.48k76.9k27.51k211.74k
Other Current Liab55.66k46.65k42.2k32.24k
Total Current Liabilities143.87k186.15k79.71k367.64k
Total Liab143.87k186.15k79.71k367.64k
Common Stock9.09M6.23M5.66M5.66M
Retained Earnings-7.82M-4.45M-2.95M-1.23M
Treasury Stock2.37M1.56M1.49M1.48M
Other Stockholder Equity2.37M1.56M1.49M1.48M
Total Stockholder Equity3.64M3.34M4.2M5.91M
Net Tangible Assets3.64M3.34M4.2M5.91M
Long Term Debt----

Cash Flow Statement

Cash Flow Statement history of Accelerate Resources Limited (ASX:AX8)

30 Jun 202130 Jun 202030 Jun 201930 Jun 2018
Net Income-3.37M-1.51M-1.72M-867.75k
Depreciation1.71M594.9k666.78k224
Change To Netincome1.02M141.55k6.61k320k
Change To Liabilities-34.53k66.53k-287.93k90.4k
Change To Operating Activities33.66k29.55k28.03k-1.06M
Total Cash From Operating Activities-637.22k-673.32k-1.3M-1.52M
Capital Expenditures-401.48k-341.25k-1.45M-12.81k
Other Cashflows From Investing Activities-549.57k-549.57k-549.57k-549.57k
Total Cashflows From Investing Activities-816.05k-136.58k-1.45M-12.81k
Other Cashflows From Financing Activities-170.9k-54.09k-54.09k-421.32k
Total Cash From Financing Activities2.53M283.27k283.27k4.83M
Change In Cash1.08M-526.62k-2.75M3.3M
Issuance Of Stock2.7M358.52k358.52k5.25M
Dividends Paid----