Company: COOT
Filing Date: 2025-02-10
Form Type: 10-Q
Source: 0001493152-25-005620
Chunk: 45

Company: Australian Oilseeds Holdings Ltd
Filing Date: 2025-02-10
Form: 10-Q
Item: Item 8
Chunk 45
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.4 million or 338.8% to AUD$0.5 million for the three months ended 30 September 2024 compared to AUD$0.1 million
for the three months ended on 30 September 2023, primarily due to the fact that the Company began to repay the AUD$4m asset finance provided
by Commonwealth Bank of Australia to expand the existing Cootamundra Oilseeds factory plant, the amortization of the convertible note
discount of AUD$0.1 million and the interest accrual on the promissory notes with American Physicians LLC.

Liquidity
and Capital Resources

As
of 30 September 2024, our principal sources of liquidity were net proceeds received related to the Business Combination and cash received
from customers.

We
incurred a loss after income tax of AUD$646,333 for the three months ended 30 September 2024 and incurred profit after tax of AUD$1,410,531
for the three months ended 30 September 2023. We were in a net current liability position of AUD$8,271,654 for the three months ended
30 September 2024 and a net current liability position of AUD$6,965,530 for the three months ended 30 September 2023. 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.

 36 

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.

The
financial statements have been prepared on a going concern basis, which contemplates continuity of normal activities and realization
of assets and settlement of liabilities in the normal course of business.

We
conducted a reverse acquisition of EDOC Acquisition Limited “ADOC” through the deSPAC on 21 March 2024, the consolidated
entity assumed AUD$5,248,824 of previously unpaid transaction costs charged by service providers of “ADOC”, AUD$1,216,928
promissory notes to American Physicians LLC and an AUD$1,533,742 convertible note to PIPE Investor ARENA as of 30 June 2024.

In
addition to the above unpaid costs incurred by ADOC,