For personal use only
Appendix 4D
Half year report
Period ending 31 December 2021
ASX Appendix 4D
Financial Statements for the half-year ended 31 December 2021
1. Details of reporting period
The directors of My Foodie Box Limited (the Company) hereby present the Company's first Appendix 4D and Half Year report following the listing of the Company on the Australian Securities Exchange (ASX).
Name of Entity | My Foodie Box Limited |
ABN | 62 622 021 265 |
Reporting Period | 31 December 2021 |
Previous Corresponding Period | 31 December 2020 |
2. Results for announcement to the market
31 December | 31 | Increase/ | Amount | |
Key information | 2021 | December | (decrease) | change $ |
2020 | ||||
Revenue from ordinary activities | 2,482,421 | 1,589,973 | 56% | 892,447 |
Net loss for the half-year | (1,023,196)1 | (95,301) | (970%) | (927,895) |
Total comprehensive loss for the half- | (1,023,196)1 | (95,301) | (970%) | (927,895) |
year attributable to members | ||||
1Commentary on Results: |
The half year loss for the period ended 31 Decemeber 2021 is inclusive of non-cash expenses related to Share Based Payment expenses and one off cash expenes associated with the listing of My Foodie Box on the ASX.
3. Net tangible asset backing
31 December 2021 | 31 December 2020 | |
Net tangible backing per ordinary security | 6 cents | (3) cents |
4. Details of entities over which control has been gained or lost during the period
N/A
5. Details of Dividends
No dividend has been paid or recommended to be paid for the half-year ended 31 December 2021.
6. Details of dividend reinvestment plans
N/A
Appendix 4D Page 2
For personal use only
Appendix 4D
Half year report
Period ending 31 December 2021
7 Details of associate and joint venture entities
N/A
8. Foreign entities
N/A
9. Audit
This report is based on the financial statements for the half-year ended 31 December 2021 which have been reviewed by RSM Australia Partners. The review report is attached as part of the Interim Report.
This information should be read in conjunction with the 2021 Annual Report.
Additional information supporting the Appendix 4D disclosure requirements can be found in Director's Report and the financial statements for the half-year ended 31 December 2021.
Mai Hughes
Chief Executive Officer and Director
28 February 2022
Appendix 4D Page 2
For personal use only
MY FOODIE BOX LIMITED
ABN 62 622 021 265
INTERIM FINANCIAL REPORT
for the half-year ended 31 December 2021
For personal use only
INTERIM FINANCIAL REPORT
FOR THE HALF YEAR ENDED 31 DECEMBER 2021
CONTENTS | |||
Corporate directory | 1 | ||
Directors' report | 2 | ||
Auditor's independence declaration | 4 | ||
Statement of profit or loss and other comprehensive income | 5 | ||
Statement of financial position | 6 | ||
Statement of changes in equity | 7 | ||
Statement of cash flows | 8 | ||
Notes to the interim financial statements | 9 | ||
Directors' declaration | 20 | ||
Independent auditor's review report to the members of My Foodie Box Limited | 21 | ||
CORPORATE DIRECTORY | |||
Directors | |||
Bryan Hughes | Executive Chairman | ||
Mai (Parisrat) Hughes | Executive Director and CEO | ||
Guy Perkins | Non-Executive Director | ||
Shane Wee | Non-Executive Director | ||
Company Secretary | |||
Kyla Garic | |||
Registered Office | Principal Place of Business | ||
Level 11, 12-14 The Esplanade, | 9 Foundry Street | ||
Perth WA 6000 | Maylands WA 6051 | ||
Ph: +61 8 6363 9222 | Ph: +61 8 6363 9222 |
Auditor
RSM Australia Partners
Level 32, Exchange Tower
2 The Esplanade
Perth WA 6000
Share Registry
Automic Registry Services
Level 5, 191 St Georges Terrace
Perth WA 6000
Securities Exchange Listing
ASX Limited
Level 40, Central Park 152-158 St Georges Terrace
Perth WA 6000
ASX Code - MBX
1I My Foodie Box Limited ABN 62 622 021 265 - Interim Financial Report 31 December 2021
For personal use only
DIRECTORS' REPORT
FOR THE HALF YEAR ENDED 31 DECEMBER 2021
The Directors of My Foodie Box Limited (Company) present their report, together with the financial statements for the half-year ended 31 December 2021.
Directors
The names of the Directors in office at any time during the half year and to the date of this report are:
Name | Position | Appointed |
Bryan Hughes | Executive Chairman | 2 October 2017 |
Mai (Parisrat) Hughes | Executive Director and CEO | 2 October 2017 |
Guy Perkins | Non-Executive Director | 8 September 2021 |
Shane Wee | Non-Executive Director | 10 November 2021 |
Company Secretary
The following person held the position of Company Secretary during and to the date of this report:
Name | Position | Appointed |
Kyla Garic | Company Secretary | 8 September 2021 |
Principal Activity
The Company's principal activity of the company during the year was the development, preparation and delivery of meal kits to WA households, specialising in locally sourced, pre-portioned ingredients.
REVIEW OF OPERATIONS
The company continued to engage in its principal activity, the results of which are disclosed in the attached financial statements.
Initial Public Offering (IPO)
Preparations for an Initial Public Offering (IPO) on the Australian Securities Exchange (ASX) continued during the half year, culminating in the filing of a final approved Replacement Prospectus (Prospectus) with ASIC on 30 November 2021. During the offer period the Company received an investment from Magnet Investments Pty Ltd (Magnet) of $2 million. The strategic cornerstone investment from Magnet resulted in a holding of 14.92%. The Company lodged a supplementary prospectus on 16 December 2021 with ASIC.
The Prospectus offered 30 million shares at $0.20 per share, for a maximum raising of $6 million. Under the prospectus, a number of secondary offers were also offered. They were as follows:
- the offer of 6,999,990 Shares and 13,999,980 Convertible Loan Options to be issued on conversion of convertible loans (Convertible Loan Offer);
- the offer of 11,600,000 Options to be issued to Directors (Director Options) or their respective nominees;
- the offer of a total of 4,500,000 Options (Performance Management Options) to be issued to certain senior members of staff (Senior Staff) (or their respective nominees); and
- the offer of a total of 4,000,000 Lead Manager Options (Lead Manager Options) to be issued to the joint lead managers.
Operational Matters
At 31 December 2021, My Foodie Box held A$32,000 in cash reserves as the $6m proceeds from the oversubscribed capital raising were held in the Company's share registry trust account and transferred into the Company's bank account subsequent to the 31st of December. As detailed in the quarterly cash flow the Company's unaudited receipts from Customers for the 6 months ending 31 December 2021 was $2,570,000 (increase of 57% year on year). MBX used the December quarter to ensure the Company's operational (including customer service), marketing, administration and finance capabilities are prepared for the expected growth this quarter. Company growth and performance can be tracked through revenue and the number of Active Subscribers. Active Subscribers are directly related to, and drive, revenue. Active
2I My Foodie Box Limited ABN 62 622 021 265 - Interim Financial Report 31
December 2021
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My Foodie Box Ltd. published this content on 28 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 February 2022 08:21:03 UTC.