On 14 December 2019, Fertoz Limited (ASX: FTZ) announced that it was able to secure a Bulk sample permit for the Fernie claims located in Alberta, Canada.
The company has plans to develop organic N-P-K fertilizer products for local farmers from the initial 5,000 bulk sample. Through this plan, the company would be able to save at least 15% relative to its existing stockpiles. Its Marten and Barnes Lake Bulk Sample Permit Applications in British Columbia is in progress. A draft copy of Marten permit is in the final stages of negotiation where they are targeting the get the sample permit for Marten in this quarter. The target in the Q2 will be towards the Barnes Lake. In 2019, the company has further planned to expand by developing new products, lease holding expansions and further optimization of distribution and logistics.
The official listing date of Fertoz Limited on ASX is 2 September 2013 where the performance of the company was -33.33%. In 5 years, the performance of FTZ was -48.72%. Its one-year performance was 163.16%.
By the closure of the fiscal year 2018, which got ended on 30 June 2018, the company made a loss of $1,432,712. The balance sheet of Fertoz Limited appears healthy with a strong net asset base of $6,723,824 and a debt to equity ratio of 0.037. It shows FTZ is financially sound to manage its long-term obligations. A lower debt-equity ratio indicates that the company has used its resources to meet any financial requirement during the period. Fertoz Limited has a total current asset of $2,225,690 and a total current liabilities of $253,877 which indicates that the company can efficiently manage its working capital as well as clear its short-term obligations. The total shareholder’s equity is worth $6,723,824.
There was a net cash outflow of $1,093,589 from the operating activities of the company where the primary source of cash outflow was in the form of payment made to the suppliers and the employees.
There was a net cash outflow of 491,687 from the investing activities of the company where the primary reason of cash outflow was due to the payment made for the exploration and evaluation of the asset. There was an additional cash outflow of $61,422 in the form of environment bond.
From the financing activities of Fertoz Limited, there was a cash inflow of $1,864,965 which has gone down as compared to its previous financial year.
However, by the end of the financial year 2018, there was a decrease in the net cash and cash equivalent worth during the period as compared to the previous fiscal year.
The shares of FTZ traded last on 14 January 2019 at A$0.200 with the market capitalization of A$25.61 million.