ASX Announcements

The half yearly report for the six months ended 31 December 2020 is attached.

The consolidated loss after tax for the half year amounted to $643,439 (2019 loss: $225,985).

Research and development cost are significantly down on last year due to COVID-19 and the resulting lockdowns affecting the projects undertaken in conjunction with the University of Auckland. The migraine project milestones were renegotiated due to the delays caused by the lockdowns and the obesity project was put on hold, while resources were focused on progressing the migraine project.

Notice of change of interests of substantial holder.

Notice of change of interests of substantial holder.

LCT responds to Price Query from ASX

The company ended the quarter with a cash balance of $2,308,702 compared to $2,524,461 in the previous quarter.

Net operating cash flow in the quarter was $(213,704) compared to ($ 440,109) in the previous quarter. Receipts from grants and tax incentives were $472,159 higher than the previous quarter $79,153 due to receipt of NZ$472,000 from the New Zealand Inland Revenue department for R & D tax credits.

Operating payments this quarter of $690,100 are higher than last quarter $536,712 but do not include any milestone payments to the University of Auckland.