FY17 Cashflow Statement Reclassification
Pacific Edge Limited wishes to advise of a classification change within the FY17 Statement of Cash Flows on page 36 of the Pacific Edge Limited 2017 Annual Report. The net effect of the reclassification on Net Cash Flows to Operating Activities is nil. The reclassification of expenses impacts the line items of "Receipts from Customers and Grant Providers" and "Payments to Suppliers and Employees". Each line item was incorrectly overstated by $3,247,945 and the corrected numbers are outlined in the table below.
The Board wishes to emphasise that this reclassification of expenses has no impact on the underlying trading results or cash position of Pacific Edge Limited. This reclassification does not affect the Statement of Comprehensive Income, Statement of Changes in Equity or Statement of Financial Position and is purely a reclassification in Operating Cash Flow within the Statement of Cash Flows.
A revised Statement of Cash Flows is included with this announcement.« Back