Accelerate Resources Limited (ASX:AX8) Annual Report 2020



The latest annual report of Accelerate Resources Limited (AX8) was published on 30 Jun 2020. 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
66.83k
Gross Profit
66.83k
EBIT
-1.45M
Net Tangible Assets
3.34M
Net Income
-1.51M
Capital Expenditures
-341.25k

AX8 Income Statement 2020 Annual Report

As per the latest Income Statement of AX8, the Net revenue increased by $NaN (NaN%) compared to the previous period. The operating income in 2020 increased by $315402 (18%). The net income as per the annual report was -1.51M which increased by $209255 (12%) compared to previous year.

Income Statement Report (2020/2019)

20202019
Total Revenue66.83k-
Gross Profit66.83k-
Operating Income-1.45M-1.76M
Income Before Tax-1.51M-1.72M
Net Income-1.51M-1.72M

Balance Sheet - AX8 2020 Annual Report

Read further: AX8 Balance Sheet Detailed Analysis

The latest balance sheet from annual result of Accelerate Resources Limited showed the company reduced the cash on balance sheet by $-526624 (-77%). The Net tangible assets of AX8 on the balance sheet were at 3.34M which is $-860974 (-20%) less than previous annual report. The total stockholder equity also decreased by $-860974 (-20%) compared to previous reporting period.

Balance Sheet Statement Report (2020/2019)

20202019
Cash156.61k683.24k
Total Assets3.53M 4.28M
Long Term Debt--
Total Liabilities186.15k 79.71k
Total Shareholder Equity3.34M4.2M
Net Tangible Assets3.34M4.2M

Cash Flow Statement - AX8 2020 Annual Report

The 2020 annual cash flow statement of Accelerate Resources Limited showed that the net income increased by $209255 (12%) compared to previous reporting period. Also the capital expenditure of AX8 increased by $1.11M (76%).

As of 2020, the total cash from investing activities was -136.58k and total cash from financing activities was 283.27k.

Cash Flow Statement Report (2020/2019)

20202019
Net Income-1.51M-1.72M
Capital Expenditures-341.25k-1.45M
Dividends Paid--
Total Cash From From Investing Activities-136.58k-1.45M
Total Cash From From Financing Activities283.27k283.27k

Accelerate Resources Limited Annual Report History

Income Statement

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

30 Jun 202030 Jun 201930 Jun 201830 Jun 2017
Total Revenue66.83k---
Cost Of Revenue----
Gross Profit66.83k---
Research Development----
Selling General Administrative693.67k966.72k726.39k79.62k
Non Recurring----
Other Operating Expenses218.09k127.63k89.68k29.8k
Total Operating Expenses1.51M1.76M816.3k1.09M
Operating Income-1.45M-1.76M-816.3k-1.09M
Total Other Income Expense Net-60.11k46.04k-51.45k-
Ebit-1.45M-1.76M-816.3k-1.09M
Interest Expense----
Income Before Tax-1.51M-1.72M-867.75k-1.09M
Income Tax Expense----
Minority Interest----
Net Income From Continuing Ops-1.51M-1.72M-867.75k-1.09M
Discontinued Operations----
Extraordinary Items----
Effect Of Accounting Charges----
Other Items----
Net Income-1.51M-1.72M-867.75k-1.09M
Net Income Applicable To Common Shares-1.51M-1.72M-867.75k-1.09M

Balance Sheet Statement

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

30 Jun 202030 Jun 201930 Jun 201830 Jun 2017
Cash156.61k683.24k3.43M133.96k
Short Term Investments27.38k86.38k51k-
Net Receivables19.26k19.77k83.17k6.97k
Total Current Assets213.02k989.38k3.57M153.23k
Property Plant Equipment3.31M3.29M2.71M30k
Total Assets3.53M4.28M6.28M183.23k
Accounts Payable76.9k27.51k211.74k27.39k
Other Current Liab46.65k42.2k32.24k-
Total Current Liabilities186.15k79.71k367.64k27.39k
Total Liab186.15k79.71k367.64k27.39k
Common Stock6.23M5.66M5.66M192.31k
Retained Earnings-4.45M-2.95M-1.23M-364.88k
Treasury Stock1.56M1.49M1.48M328.41k
Other Stockholder Equity1.56M1.49M1.48M328.41k
Total Stockholder Equity3.34M4.2M5.91M155.84k
Net Tangible Assets3.34M4.2M5.91M155.84k
Long Term Debt----

Cash Flow Statement

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

30 Jun 202030 Jun 201930 Jun 201830 Jun 2017
Net Income-1.51M-1.72M-867.75k-1.09M
Depreciation594.9k666.78k224224
Change To Netincome141.55k6.61k320k985.22k
Change To Liabilities66.53k-287.93k90.4k82.16k
Change To Operating Activities29.55k28.03k-1.06M-147.82k
Total Cash From Operating Activities-673.32k-1.3M-1.52M-175.07k
Capital Expenditures-341.25k-1.45M-12.81k-12.81k
Total Cashflows From Investing Activities-136.58k-1.45M-12.81k-12.81k
Net Borrowings-21.16k-21.16k-21.16k-21.16k
Other Cashflows From Financing Activities-54.09k-54.09k-421.32k-29.06k
Total Cash From Financing Activities283.27k283.27k4.83M576.94k
Change In Cash-526.62k-2.75M3.3M401.87k
Issuance Of Stock358.52k358.52k5.25M606k
Dividends Paid----