On 5 December 2018, ICollege Limited (ASX: ICT) shares an update with its investors about the strong enrollment results at its Sero Institute in November. This month, the number of CoE (Confirmation of Enrolment) was 112. The CCEV (Confirmed CRICOS Enrolment Value) was reported to be $1,349,860. The terminology CCEV refers to the booked dollar value which is attributed to each student taking up the course at the SERO institute for a specified duration.
It was reported that in November, there was only 24 confirmation of enrollment at the new Perth Campus which resulted in CCEV of $370,404.
Since February 2018, the total Confirmed CRICOS Enrolment Value is $6,112,046.
Since the inception, the company gave a negative performance which is -92.47%. Within five years duration of the company, the performance of the company is 272.22%. Since last one year, the performance of the company remains negative which is -18.29%.
For the financial year ended 30 June 2018, the company incurred a net loss of $4,415,875. The company holds a total asset of the company is $19,849,586 and total liabilities of $10,113,953 which indicates that the company is in a position to clear long-term obligations. The company holds a total current asset of $992,562 and the total current liabilities of $6,150,255 which implies that the company is facing difficulty in meeting its short-term obligations as well as the net working capital. Further, it was reported that the accumulated loss of the company increased in FY2018 as compared to the previous year which signifies that the shareholder’s wealth got eroded in the period.
The net cash outflow through the operating activities of the company was $633,992. Here, the main source of cash outflow was due to the payment made to employees and the suppliers as well as other finance costs.
The net cash inflow through the investing activities of the company was $463,832. Here, the main source of cash inflow was due to the acquisition of subsidiaries. Simultaneously, there was cash outflow in the form of deferred consideration from the acquisition of a subsidiary and payment made for plant and equipment.
The net cash inflow from the financing activities of the company was $497,374. Here, the main source of cash inflow was due to the income from borrowings. The other source of cash inflow includes income from share issues received in advance. Simultaneously there were cash outflow as well in the form of repayment of borrowings and share issue cost.
By the end of the year, the net cash available with the company was $339,214. After the announcement, the share price of ICT increased by 5.97% which is equivalent to 0.004 points. By the end of the trading on 05 December 2018, the market price of the share was A$0.071 where the stock holds a market capitalization of A$31.42 million.
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