SenterpriSys : Half Year Accounts - 31 December 2021

SenterpriSys Limited

ABN 14 146 845 123

Interim Financial Statements

For the Half Year Ended 31 December 2021

ABN 14 146 845 123

NSX Code: SPS

SenterpriSys Limited

ABN 14 146 845 123

Contents

For the Half Year Ended 31 December 2021

	Page
Executive Chairman's Letter	1
Directors' Report	2
Auditor's Independence Declaration	3
Interim Statement of Profit or Loss and Other Comprehensive Income	4
Interim Statement of Financial Position	5
Interim Statement of Changes in Equity	6
Interim Statement of Cash Flows	7
Notes to the Financial Statements	8
Directors' Declaration	12
Independent Auditor's Review Report	13

SenterpriSys Limited

ABN 14 146 845 123

Executive Chairman's Letter

For the Half Year Ended 31 December 2021

The Company recorded a net loss of $56,541 (31 December 2020: net profit $126,984). The Company has a negative

working capital position of $22,057 (30 June 2021: $212,244 positive). We can confirm that 75% of Project DeRisk (formerly BuilderSYS) has been completed and is being used by Tamawood Limited in its daily operations. The balance of Project DeRisk is expected to be completed by June 2022.

The Company has employed a new staff member to focus on business development and generating sales for Project DeRisk. Target markets and geographical locations are being identified.

The knowledge database software has been provided to two companies to beta test. It is anticipated this will be fully operational before December 2022. This software will form the basis for the first version of "QANOTIX" (ISO:9001 quality assurance software) which will be available in FY23 and suitable for use by a number of industries.

Following the recent capital raising, the Company has sufficient working capital to meet its obligations for the next 12 months. In addition, Rainrose Pty Ltd, an entity I control, has signed a letter of support guaranteeing the Company's obligations.

Lev Mizikovsky

Executive Chairman

Dated: 14 March 2022

SenterpriSys Limited
Interim Financial Statements 31 December 2021	1

SenterpriSys Limited

ABN 14 146 845 123

Directors' Report

For the Half Year Ended 31 December 2021

The directors submit the interim financial report of the Company for the half year ended 31 December 2021.

Directors

The names of the directors in office at any time during, or since the end of, the half year are:

Names	Position
Lev Mizikovsky	Executive Chairman
Rade Dudurovic	Non-executive Director and Chair of the Audit Committee
Laurie Lefcourt	Non-executive Director
Michael Fennell	Managing Director
Company secretary
Mr Geoff Acton	(B.Com, ACA, GAICD)
Miss Narelle Lynch	("Cert Gov Prac")

Operating results and review of operations for the year

The Company achieved an operating loss after tax of $56,541 for the half year ended 31 December 2021 (31 December 2020: $126,984 profit). The revenue of $495,300 was derived from continuing to provide support and maintenance for IT systems of Tamawood Limited, AstiVita Limited and Advance ZincTek Limited as well as licensing fees for the use of the Company's software ("Software") by Tamawood Limited.

There are no contracts in place and this revenue is derived on a month-by-month basis as the services of SenterpriSys are required by these companies. SenterpriSys is working with Tamawood Limited to finalise the Software ready for commercial release. It is anticipated the Software will be finalised by June 2022 and commercial release will happen shortly thereafter.

Significant changes in state of affairs

There have been no significant changes in the state of affairs of entities in the Company during the half year.

Matters or circumstances arising after the end of half year

No matters or circumstances have arisen since the end of the financial half year which significantly affected or could significantly affect the operations of the Company, the results of those operations or the state of affairs of the Company in future financial years.

Auditor's independence declaration

The auditor's independence declaration in accordance with section 307C of the Corporations Act 2001 for the half year ended 31 December 2021 has been received and can be found on page 3 of the interim financial report.

This report is signed in accordance with a resolution of the Board of Directors.

Lev Mizikovsky

Executive Chairman

Dated: 14 March 2022

SenterpriSys Limited
Interim Financial Statements 31 December 2021	2

AUDITOR'S INDEPENDENCE DECLARATION UNDER SECTION 307C OF THE CORPORATIONS ACT 2001 TO THE DIRECTORS OF SENTERPRISYS LIMITED

I declare that, to the best of my knowledge and belief during the half-year ended 31 December 2021 there have been:

• no contraventions of the auditor independence requirements as set out in the Corporations Act 2001 in relation to the review; and
• no contraventions of any applicable code of professional conduct in relation to the review.

William Buck Audit (Vic) Pty Ltd

ABN 59 116 151 136

J. C. Luckins

Director

Melbourne, 14 March 2022