more cash

APPENDIX 4C – SEPTEMBER 2007
FIRST QUARTER CASH FLOW REPORT
For the quarter ending 30th September 2007, Solco Ltd sales
revenue from ordinary operations increased by a healthy 27% to
$3.3m compared with the corresponding period for 2006.
Although net operating cash flow for the period was negative $195k
this is accounted for by the timing delay of cash receipts from the
increased sales and the increased working capital needs to support
the expanded business (receivables up by $459k with inventories
down by $295k and payables also down by $43k for the quarter).
Cash at bank as at 30 September 2007 was $3.38m, up by
$2.575m since 1 July 2007 due largely to the capital raisings by
way of options conversion, pro-rata rights issue and placements
already reported to shareholders.
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