Ann: Quarterly Activities Report and Appendix 4C, page-2

Nuheara Limited (ASX: NUH) (“Nuheara” or the “Company” is pleased to provide the Company update and quarterly report for the quarter ended 31 December 2018.
Nuheara’s cash balance as at 31 December 2018 was $8.09 million. There was an improvement of 72% in net operating cash outflows for Q2 FY2019 of $657k compared to last quarter, Q1 FY2019, of $2.34 million.
Receipts from customers of $725k were 10% higher than previous quarter (Q1 FY2019: $661k). Unit sales were 51% higher than the previous quarter, which will then flow into subsequent quarter receipts.
At the end of the previous quarter, and influencing this quarter’s results, was the decision by the Company to consolidate product sales to a more focused, exclusive and dedicated retail channel in. This decision to provide access to retailers that have a consultative sales process, such as Optical Retailers (refer further in the update that follows), is designed to ensure that the customer journey is more focused, educated and fit for purpose.