0001437749-17-005664.txt : 20170331 0001437749-17-005664.hdr.sgml : 20170331 20170331061249 ACCESSION NUMBER: 0001437749-17-005664 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20170331 FILED AS OF DATE: 20170331 DATE AS OF CHANGE: 20170331 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VivoPower International PLC CENTRAL INDEX KEY: 0001681348 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC & OTHER SERVICES COMBINED [4931] IRS NUMBER: 000000000 STATE OF INCORPORATION: X0 FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-37974 FILM NUMBER: 17727903 BUSINESS ADDRESS: STREET 1: 140 BROADWAY STREET 2: 28TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10005 BUSINESS PHONE: 7182304580 MAIL ADDRESS: STREET 1: 140 BROADWAY STREET 2: 28TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10005 6-K 1 vpip20170330_6k.htm FORM 6-K vpip20170330_6k.htm

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM 6-K

 

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16

under the Securities Exchange Act of 1934

 

March 31, 2017

 

Commission File Number 001-37974

 

VivoPower International PLC

(Translation of registrant’s name into English)

 

91 Wimpole Street

London W1G

+44 20 3714 8881

 (Address of principal executive office)

 

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F:      Form 20-F  Form 40-F 

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): 

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): 

 

 
 

 

   

In compliance with NASDAQ Rule 5250(c)(2), VivoPower International PLC hereby publishes its Unaudited Condensed Financial Statements, including a Condensed Consolidated Statement of Financial Position as of September 30, 2016 and its Condensed Consolidated Statement of Comprehensive Income, Condensed Consolidated Statement of Changes in Equity and Condensed Consolidated Cash Flow Statement for the six months ended September 30, 2016. It should be noted that the financial information set forth in this report is unaudited and subject to adjustment in connection with the audit of the Company’s financial statements for the year ending March 31, 2017. The financial information set forth herein has been prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB).

  

 
 

 

  

VIVOPOWER INTERNATIONAL PLC

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

As of March 31, 2016 and September 30, 2016

 (Unaudited)

  

(U.S. dollars)

 

   

March 31,

   

September 30,

 
   

2016

   

2016

 

ASSETS

               
                 

Non-Current Assets

               

Property, plant and equipment

    2,899       63,730  

Asset under construction

    -       7,185,488  

Other receivable

    7,875,938       -  

Investments

    -       7,586,477  
                 

Total non-current assets

    7,878,837       14,835,695  
                 

Current Assets

               

Cash and cash equivalents

    28,038       916,170  

Accrued income

    -       2,425,500  

Prepaid expenses

    -       175,765  
                 

Total current assets

    28,038       3,517,435  
                 

Total Assets

    7,906,875       18,353,130  
                 

LIABILITIES

               
                 

Current Liabilities

               

Trade and other payables

    177,977       780,150  

Accrued expenses and other payables

    8,336       28,698  

HP finance lease payables

    -       6,984  

Interest payable

    -       404,526  

Related party loan

    7,929,098       17,060,729  
                 

Total current liabilities

    8,115,411       18,281,087  
                 

Long term liabilities

               

HP finance lease payables

    -       22,323  

Total liabilities

    8,115,411       18,303,410  
                 

NET ASSETS

    (208,536 )     49,720  
                 

Equity and reserves

               
                 
                 

Share Capital

    72,125       68,627  

Other reserves

            948  

Retained earnings

    (280,661 )     (19,855 )

TOTAL EQUITY AND RESERVES

    (208,536 )     49,720  

 

 
 

 

 

VIVOPOWER INTERNATIONAL PLC

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

For the Six Months Ended September 30, 2016

(Unaudited)

  

(U.S. dollars)

 

   

Six Months

 
   

ended

 
   

September 30,

 
   

2016

 
         

Revenue

    2,425,500  
         

Gross profit

    2,425,500  
         

General and administrative expenses

    (2,093,507 )
         

Operating Profit

    331,993  
         

Interest expense

    (68,970 )

Foreign exchange losses

    (2,217 )
         

Profit before taxation

    260,806  
         

Taxation

    -  
         

Profit after taxation

    260,806  
         

Comprehensive Income

       

Change in cumulative translation adjustment

    948  
         

Total comprehensive income

    261,754  

  

 

VIVOPOWER INTERNATIONAL PLC

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

(Unaudited)

(U.S. dollars)

 

   

Ordinary Shares

   

Retained

   

Cumulative

         
   

Number

   

Amount

   

Earnings

   

translation reserve

   

Total

 
                                         

March 31, 2016

    5,514,375     $ 72,125     $ (280,661 )   $ -     $ (208,536 )

Subscription paid

    204,504       2,454       -             $ 2,454  

Redenomination of share capital in USD

          $ (5,952 )                   $ (5,952 )

Current earnings

                    260,806       948     $ 261,754  

September 30, 2016

    5,718,879     $ 68,627     $ (19,855 )   $ 948     $ 49,720  

 

 
 

 

 

VIVOPOWER INTERNATIONAL PLC

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

(Unaudited)

(U.S. dollars)

 

   

Six Months ended

 
   

September 30, 2016

 
         

CASH FLOW FROM OPERATING ACTIVITIES

       

Operating profit

  $ 261,754  
         

Increase in prepaid expenses

    (175,765 )

Increase in accrued income

    (2,425,500 )

Increase in trade and other payables

    602,172  

Increase in accrued expenses and other payables

    20,363  

Increase in interest payable

    404,526  

Net cash used in operating activities

    (1,312,450 )
         

CASH FLOW FROM INVESTING ACTIVITIES

       

Project investment

    (6,896,026 )

Purchase of fixed assets

    (31,524 )

Net cash used by investing activities

    (6,927,550 )
         

CASH FLOW FROM FINANCING ACTIVITIES

       

Proceeds from related party borrowings

    9,059,505  

Capital contributions

    68,627  

Net cash provided by financing activities

    9,128,132  
         

Net increase in cash

    888,132  
         

Cash at beginning of period

    28,038  
         

Cash at end of period

  $ 916,170  

 

 
 

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

 

Date: March 31, 2017

VivoPower International PLC

 

(Registrant)

 

 

 

 

 

 

 

By:

/s/ Carl Weatherley-White

  Name: Carl Weatherley-White
  Title: Chief Financial Officer

 

 

 

 

 

[SIGNATURE PAGE TO FORM 6-K]