| Cash generated from operations |
16. Cash generated from operations
|
|
|
|
|
|
|
|
|
2021 |
|
2020 |
|
2019 |
|
|
$ |
|
$ |
|
$ |
(Loss) / profit before tax |
|
(271,729,101) |
|
(1,136,853) |
|
783,847 |
Adjustments for: |
|
|
|
|
|
|
Depreciation |
|
52,550 |
|
4,787 |
|
308 |
Change in trade and other receivables |
|
(6,131,559) |
|
(173,204) |
|
(57,608) |
Change in trade and other payables |
|
(1,289,125) |
|
(1,283,887) |
|
3,632,800 |
Share option charge |
|
165,570 |
|
121,597 |
|
11,392 |
Finance income |
|
— |
|
(64,902) |
|
(510,252) |
Interest payable |
|
1,078,070 |
|
392,783 |
|
88,466 |
Change in fair value of warrants |
|
98,090,070 |
|
— |
|
— |
IFRS 2 adjustment relating to reverse acquisition |
|
155,459,939 |
|
— |
|
— |
Cash (used in)/generated from operations |
|
(24,303,586) |
|
(2,139,679) |
|
3,948,953 |
Reconciliation of net cashflow to movements in net debt: |
|
|
|
|
|
|
Opening net cash/(debt) |
|
(5,265,371) |
|
929,056 |
|
310,479 |
Convertible facilities received |
|
(14,147,700) |
|
(1,679,652) |
|
(3,706,686) |
Borrowings received |
|
(5,041,971) |
|
— |
|
— |
Net interest charge |
|
(99,904) |
|
332,124 |
|
409,218 |
Facilities converted |
|
18,863,600 |
|
— |
|
— |
Repayment of borrowings |
|
6,119,891 |
|
— |
|
— |
Movement in cash |
|
86,765,376 |
|
(4,225,118) |
|
3,916,045 |
Movement on foreign exchange |
|
(228,132) |
|
42,468 |
|
— |
Movement in net cash/ (debt) |
|
92,231,160 |
|
(6,194,427) |
|
618,577 |
Closing net cash/(debt) |
|
86,965,789 |
|
(5,265,371) |
|
929,056 |
Composition of closing net cash/(debt) |
|
|
|
|
|
|
Cash |
|
86,965,789 |
|
194,602 |
|
4,226,524 |
Bank loans |
|
— |
|
(1,033,632) |
|
— |
Convertible loans |
|
— |
|
(4,426,340) |
|
(3,297,468) |
Net cash/(debt) |
|
86,965,789 |
|
(5,265,371) |
|
929,056 |
|