As reported to the ASX on 27 April 2018.
Please find attached the Gooroo Ventures Limited (ASX:GOO, “Company” or “Gooroo”) Appendix 4C cash flow report (unaudited) for the quarter ending 31 March 2018.
- Cash and cash equivalents increased by $358k in Q3 FY18 to $2.254m
- Sales revenue in Q3 FY18 increases by 172% to $125k
Customer cash receipts for the quarter were $56k, leaving an accounts receivable balance of $82k as at 31 March to be receipted in Q4.
During the quarter the Company also successfully completed the second tranche of the share placement announced in November last year. The government grant (EMDG) anticipated last quarter has not yet been receipted and is expected this quarter (June 2018).
The Company remains laser-focused on building out its partner network and signing enterprise contracts. Investors should be encouraged by the acceptance Gooroo is receiving considering the platform is in early stages of commercialisation. The team is managing a number of material local and international commercial deals and will inform the market as they crystalise over the coming quarters.
The Company anticipates continued growth in sales revenue in Q4 FY18.
Click here to access the Q3 FY18 4C report delivered to the ASX on 27 April 2018.
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