Company: COOT
Filing Date: 2025-02-10
Form Type: 10-Q
Source: 0001493152-25-005620
Chunk: 4

Company: Australian Oilseeds Holdings Ltd
Filing Date: 2025-02-10
Form: 10-Q
Item: Item 8
Chunk 4
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    Australian
    Oilseeds Pty Ltd.

    100%

    100%
     
    Australia
     
    Investment

    Cootamundra
    Oilseeds Pty Ltd.

    82.7%

    82.7%
     
    Australia
     
    Oilseeds
    crushing business

    Cowcumbla
    Investments Pty Ltd.

    82.7%

    82.7%
     
    Australia
     
    Investment

    Good
    Earth Oils Pty Ltd.

    100%

    100%
     
    Australia
     
    Marketing
    and Distribution

    EDOC
    Acquisition Limited

    100%

    100%
     
    Cayman
    Islands
     
    SPAC

The
carrying amount of the Company’s investment in the subsidiary and the equity of the subsidiary is eliminated on consolidation.

(c)
Substantial doubt regarding Going Concern 

The
Company incurred a loss after income tax of AUD$646,333 for the three months ended 30 September 2024 and for the three months ended 30
September 2023 incurred profit of AUD$1,410,531. The Company was in a net current liability position of AUD$13,156,247 as at 30 September
2024 and a net current liability position of AUD$6,965,530 as at 30 June 2024. Net cash inflows from operating activities were AUD$588,341
for the three months ended 30 September 2024 and net cash outflows from operating activities were AUD$1,537,163 for the three months
ended 30 September 2023.

As
at 30 September 2024 and 30 June 2024, the consolidated entity had cash in hand and at bank of AUD$2,127,738 and AUD$514,140, respectively.

Despite
the breaching of the bank covenant with the Commonwealth Bank of Australia (abbreviated as “CBA”) on 5th December
2024 due to overstock of inventory balance, CBA has advised the Company that they will not exercise its right relating to the breach
given the Company holds excessive canola seeds as inventory for the commission of expanded crushing plant in the quarter of September
2024. However, CBA reserves the right to exercise its rights relating to any breaches in the future. Loans relating to CBA have been
reclassed as current.

     7