Financial Snapshot The Company’s net cashflow used in operations for the quarter was $274,000. The Company’s operational expenses mainly comprised of administration and corporate costs ($279,000) and staff costs ($76,000). Listing Rule 4.7C.3 In item 6 of the attached Appendix 4C, payments to related parties of approximately $2,000 comprising of Non-Director Services – office rent of $2,000 was paid during the quarter. The Company closed the quarter with a cash position of $294,000. Outlook The Company intends to utilize the funds raised from the sale of its divested assets to explore other project and business acquisition opportunity, which may not be in the technology sector. This announcement has been approved by the Board of Syntonic. About Syntonic Syntonic Ltd (SYT.ASX) in an Australian listed company currently exploring project and business opportunities. To learn more about Syntonic, visit www.syntoniclimited.com.
Good luck.
SYT Price at posting:
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