Cellmid 2017 Annual Report 55

21. CASH FLOW INFORMATION

22. EVENTS AFTER THE REPORTING PERIOD

No matters or circumstances have arisen since the end of the ﬁnancial year which signiﬁcantly affected or could signiﬁcantly

affect the operations of the Group, the results of those operations, or the state of affairs of the Group in future ﬁnancial years.

23. RELATED PARTY TRANSACTIONS

(a) The Group’s main related parties are as follows:

Parent entities

Cellmid Limited is the ultimate parent entity.

Subsidiaries

For details of disclosures relating to subsidiaries, refer to Note 25. Transactions and balances between subsidiaries and the

parent have been eliminated on consolidation of the Group.

Key management personnel

For details of disclosures relating to key management personnel, refer to the remuneration report contained within the

Director’s report.

Transactions with related parties

During the year ending, the remuneration for Ms Halasz has been restructured to more accurately reﬂect the management

costs incurred by each wholly owned subsidiary of the Consolidated Entity. As a result, Direct Capital Group Pty Ltd, a related

party to Ms Halasz, was paid $188,538 for management services. No amount was outstanding as at 30 June 2017.

2017 2016

$ $

Reconciliation of loss after income tax to net cash used in operating activities

Loss after income tax for the year (4,470,136) (3,498,916)

Adjustments for:

- depreciation and amortisation 156,386 161,613

- share based payments 16,107 176,123

- bad and doubtful debts 8,485 6,411

- interest expense 231,997 48,063

- ﬁnance income (76,952) (40,000)

Changes in operating assets and liabilities

- (increase)/decrease in trade and other receivables (79,945) 320,308

- decrease in prepayments 26,590 107,966

- increase in inventories (69,531) (282,332)

- increase in trade and other payables 179,225 430,100

- increase in provisions 17,255 21,952

Net cash used in operating activities (4,060,519) (2,548,712)

Consolidated