A: (SEA) : SeaDragon Limited Reporting Period Previous Reporting Period Results for announcement to the market 12 months to 31 March 2013 12 months to 31 March 2012 Revenue from continuing ordinary activities Loss from continuing activities after tax attributable to security holders Loss from discontinued activities after tax attributable to security holders Net loss attributable to security holders Amount ($NZ'000) Percentage change $8,999 59893% ($296) (43.1%) $0 $3,354 (751.3%) Interim Dividend Amount per security Imputed amount per security No dividend has been declared for this reporting period. SEA has no dividend reinvestment plan currently in operation. $0.0000 $0.00000 Record Date Dividend Payment Date Comments: See market announcement attached B: SeaDragon Limited Preliminary announcement for the year ended 31 March 2013 Preliminary full year report on consolidated results (including the results for the previous corresponding full year) in accordance with Listing Rule 10.4.2. This report has been prepared in a manner which complies with generally accepted accounting practice and gives a true and fair view of the matters to which the report relates and is based on unaudited financial results. The accounting policies used in the preparation of these financial statements are consistent with those used in the interim financial statements for the six months ended 30 September 2012 and in the audited financial statements for the year ended 31 March 2012. The Listed Issuer has a formally constituted Audit & Risk Committee of the Board of Directors.
C: Consolidated Statement of Financial Performance Revenue Cost of sales Gross profit 8,999 15 (7,829) - 1,170 7700.0% 15 Sales and marketing expenses General and administrative expenses Operating loss (267) - (1,142) (554) (239) (55.7%) (539) Finance income 9 20 Finance costs (66) (1) Net finance costs (57) (400.0%) 19 Loss before taxation from continuing operations (296) (43.1%) (520) Income tax benefit/(expense) (Loss)/profit from continuing operations (296) (43.1%) (520) Loss from discontinued operations (after tax) - 5 Loss for the year Other comprehensive income Net change in fair value of available for sale financial assets 3,650 - Other comprehensive income for the year, net of tax 3,650 - Profit/(loss) attributable to equity holders of the Company 3,354 (751.3%) (515) Total number of shares on issue Weighted average number of shares on issue No. No. 1,231,733,227 306,733,227 723,627,109 276,405,358 Earnings Per Share: Basic Diluted (0.04) (0.19) (0.04) (0.19)
D: Consolidated Statement of Financial Position Assets Property, plant and equipment 3,740 - Inventory 1,375 - Current tax assets - 15 Trade and other receivables 4,680 70 Other financial assets 193 - Cash and short term deposits 418 595 Assets classified as held for sale 3,875 225 Total tangible assets 14,281 1478.0% 905 Intangible assets 118 - Total assets 14,399 1491.0% 905 Liabilities Loans and borrowings Trade and other payables Total liabilities 1,403 16 4,975 93 6,378 5751.4% 109 Net assets Equity Share capital 19,745 15,972 Accumulated loss (15,472) (15,176) Share options reserve 98 - Available-for-sale reserve Total equity attributable to equity holders of the Company Non-controlling interests Total equity 3,650 - Net tangible assets per share 0.64 0.26 E: Statement of Changes in Equity Loss for the period Increase in issued share capital 3,773 255 Transaction costs - (19) Share options reserve 98 - Other comprehensive income for the year Movements in equity for the year Equity at start of the year Equity at end of the year 3,650-7,225 (279) 796 1,075
F: Consolidated Statement of Cash Flows Loss for the period Add/(Less): Depreciation of property, plant and equipment Impairment of property, plant and equipment Amortisation of discontinued consideration receivable Employee share benefits 267 - - 1 - (5) 98 - (Increase)/decrease in inventory 57 Decrease/(increase) in accounts receivable and other assets (4,341) 13 (Decrease)/increase in accounts payable and other liabilities 3,036 (6) (Increase)/decrease in current tax assets Increase in deferred tax asset Net cash flow from operating activities 15 40 (1,164) 146.6% (472) Net cash flow from investing activities (255) (1120.0%) 25 Net cash flow from financing activities 1,242 392.9% 252 Net decrease in cash held Cash acquired on purchase of subsidiary Opening bank balance Closing bank balance (177) (9.2%) (195) 595 (24.7%) 790 418 (29.7%) 595 Made up as follows: Cash and cash equivalents 418 (29.7%) 595 G: Material Acquisition of Subsidiaries (a) Name of subsidiary Sea Dragon Marine Oils Limited (b) Date of gain of control 15/10/2012 (c) Contribution to revenue for the period $ 8,999,024 (d) Contribution to consolidated profit/(loss) for the period $ 257,000 (e) Date from which such contribution has been calculated 15/10/2012 (f) Contribution to consolidated loss for the previous corresponding period ((g))date from which such contribution has been calculated On 15 October 2012, the Company completed the acquisition of selected business assets and liabilities of SeaDragon Marine Oil amounting to $1.056m. In satisfaction of the payment of the purchase price the Company issued 600,000,000 new ordinary fully paid shares to the vendor of the SeaDragon business, SeaDragon Marine Oils Limited ( SDMO ), at an issue price of 0.367 cents per share ( Consideration Shares ). Reverse acquisition accounting has been applied to this transaction. H: Material Disposal of Subsidiaries
I: Material Investment in Jointly Controlled Entity J: Issued and Quoted Securities at End of Current Period Category of Securities Issued Number Quoted ORDINARY SHARES: Total number of shares in issue 1,226,233,227 1,226,233,227 Issued during the current period 925,000,000 - K: Comments by Directors If no report in any section, state NIL. If insufficient space below, provide details in the form of notes to be attached to this report. (a) Material factors affecting the revenues and expenses of the group for the current full year or half year (b) Significant trends or events since the end of the current full year or half year (c) Changes in accounting policies since last Annual Report and/or last Half Yearly to be disclosed None. (d) Critical Accounting Policies - Management believes the following to be critical accounting policies. That is they are both important to the portrayal of the Issuer's financial condition and results, as they require management to make judgments and estimates about matters that they are inherently uncertain (e) Management's discussion and analysis of financial condition, result and/or operations (optional) - this section should contain forward looking statements that should outline where these involve risk and uncertainty 30-May-13 (signed by) Authorised Officer of Listed Issuer (date)