view - Western Desert Resources

NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS
for the year ended 30 June 2008
Consolidated
Company
2008 2007 2008 2007
$ $ $ $
11 CURRENT LIABILITIES –
TRADE AND OTHER PAYABLES
Trade payables and accruals 379,139 80,266 379,139 80,266
12 CURRENT LIABILITIES – PROVISIONS
Employee benefits 7,525 - 7,525 -
13 ISSUED CAPITAL
2008 2007
No. $ No. $
Issued share capital:
69,720,000 fully paid ordinary shares (2007 : 16,000,000) 69,720,000 11,159,766 16,000,000 630,394
Movement in issued shares for the year:
Balance at beginning of financial period 16,000,000 630,394 - -
Issued on incorporation - - 400 400
Issued at 1 cent - - 8,999,780 89,998
Issued at 2 cents - - 1,999,820 39,996
Issued at 10 cents - - 5,000,000 500,000
Issued at 12.5 cents 320,000 40,000 - -
Issued at 20 cents 47,500,000 9,500,000 - -
Issued at 25 cents 5,900,000 1,475,000 - -
Costs associated with the issue of shares - (689,486) - -
Tax effect of transaction costs - 203,858 - -
Balance at end of financial period 69,720,000 11,159,766 16,000,000 630,394
Capital management
Management controls the capital of the group in order to
maintain a good debt to equity ratio, provide the shareholders
with adequate returns and ensure the group continues as a
going concern.
There are no externally imposed capital requirements.
Management effectively manages the group’s capital by
assessing the financial risks and adjusting the capital structure
in response to those risks. These responses include share issues.
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