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Hi All,


Thanks Helz for supplying the report.


I've had a look at it, I'm no expert in finance or the like, but I can offer a bit more

Below is the full financial summary (apologies for the formatting)

Revenue is in fact, $3,904,829 (down from $4,308,189)

The quoted number from Helz is the final income (or loss to be more accurate), a loss for 2018 of $1,319,254

Loss after income tax was $992,750


A few things to note from the report

Total assets are around the $6 million mark, Liablities around the $5 million, so net assets are about $1 million.

However I obviously don't know how to read this properly because the auditor flags the Group's current liabilities exceed it's current assets by $1,502,690 and states it is an ongoing concern.

(this may be due to all the borrowings? though that seems to be included in the liabilities already)


Thare was a borrowing of $1,000,00 for the year: "Non-current borrowings comprise unsecured loans from the Executive Chairman and his related entities. The loans are interest free and repayable not earlier than 2020. $1,000,000 in current borrowings (2017: $nil) relate to funds receipted

from an external investor under a Letter of Offer that are expected to either be converted into either hybrid debt or equity at

a future date and as at report date were unsecured, non-interest bearing and repayable at call."

There are also borrowings of $1.6 million from Vagif.



Issued shares have not changed for the FY (95,210,356)


Vagif and Alexander Kurganov are the current directors

Ian Nisbet resigned April 2019 (but did attend all 3 directors meetings)


What I'm taking out of this, mostly, is that they are still going, and they are actually still producing financial reports, which went missing for a while.

They are making close to $4 million a year (no real change from the previous year)

I think it will be a while before any shareholders see anything based on the current situation. But I certainly don't know everything. I just hope there's something more on the horizon.





Prenolica Limited

Statement of profit or loss and other comprehensive income

For the year ended 31 December 2018


2018 2017


Revenue 3,904,829 4,308,189

Other income 481,526 323,071


Research and development costs (443,687) (491,525)

Contract research and development by SEVDA (853,028) -

Impairment expense (60,216) (195,856)

Employee benefits expense (724,512) (980,716)

Depreciation and amortisation expense (389,449) (209,091)

Other expenses (428,611) (181,446)

Corporate administration expense (603,551) (669,470)

Cost of sales (1,781,362) (1,634,088)

Finance costs (60,814) (27,287)

Profit/(loss) before income tax expense (958,875) 241,781

Income tax expense (33,875) (57,916)

Profit/(loss) after income tax expense for the year attributable to the owners of

Prenolica Limited (992,750) 183,864

Other comprehensive income for the year, net of tax (326,504) (230,021)

Total comprehensive income for the year attributable to the owners of

Prenolica Limited (1,319,254) (46,157)



Current assets

Cash and cash equivalents 213,974 250,871

Trade and other receivables 1,060,750 980,812

Inventories 689,922 996,173

Total current assets 1,964,646 2,227,856

Non-current assets

Financial assets 1,968 34,437

Property, plant and equipment 4,332,136 4,210,392

Intangible assets 16,432 27,373

Total non-current assets 4,350,536 4,272,202

Total assets 6,315,182 6,500,058


Current liabilities

Trade and other payables 2,211,170 1,854,662

Borrowings 1,000,000 -

Provisions 94,068 104,470

Deferred revenue 162,098 342,494

Total current liabilities 3,467,336 2,301,626

Non-current liabilities

Borrowings 10 1,697,879 1,711,881

Other - 17,330

Total non-current liabilities 1,697,879 1,729,211

Total liabilities 5,165,215 4,030,837

Net assets 1,149,967 2,469,221


Issued capital 103,363,880 103,363,880

Reserves (1,267,099) (940,595)

Accumulated losses (100,946,814) (99,954,064)

Total equity 1,149,967 2,469,221






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Who is SVEDA? R&D cost with them almost double company normal R&D cost of about $0.5m p.a . Must be a very important R&D cost as it almost offset the Income loss. Anyone think this is a highly unusual expense for R&D at a time when cashflow is paramount?
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Cash flows for the year:


As for who SEVDA is - no idea. limited googling skill doesn't turn up anything. You're right though - that's a big investment there.





Prenolica Limited

Statement of cash flows

For the year ended 31 December 2018


2018 2017

$ $


Cash flows from operating activities

Receipts from customers (inclusive of sales taxes) 4,443,451 4,733,297

Payments to suppliers and employees (inclusive of sales taxes) (4,635,649) (4,788,549)

Finance costs (28,345) (27,287)

Research and development rebate 80,913 244,188

Income tax expense paid (33,875) (57,916)

(173,505) 103,733

Interest received 1,441 6,848

Net cash from operating activities (172,064) 110,581

Cash flows from investing activities

Payments for property, plant and equipment (719,372) (502,012)

Net cash from investing activities (719,372) (502,012)

Cash flows from financing activities

(Advances to)/ proceeds from loans with to related parties (14,002) 385,561

Proceeds from shareholder to be converted into debt or equity 1,000,000 -

Repayments of financial liabilities (131,459) -

Net cash from financing activities 854,539 385,561-

Net increase in cash and cash equivalents (36,897) (5,870)

Cash and cash equivalents at the beginning of the financial year 250,871 256,741

Cash and cash equivalents at the end of the financial year 213,974 250,871




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  • 3 weeks later...

Well Prenolica has very limited product advertising which is at total contrast to MLM company VILAVI.


VILAVI Is aggressively promoting Tayga8 product line which as stated below utilises Solagift as one of their exclusive partners.




Being a MLM the 'pyramid' franchising areas means pushing for more representation to sell product lines. Some very lucrative commission structures up to 56% are on offer along with free cars - Mercedes and even Bentleys!


VILAVI has just received Patent coverage for the product in Russia and there are European sales just being expanded into now.


How successful will they be, who knows, but they do have a slick promotions department.


About the only thing going for this model is that it is a consumable product line such as Avon & to an extent Amway but unlike one off purchases such as Tupperware.

It is also very appealing offer to the younger generation with the marketing claims around extra stamina and maintaining ones youthfulness!


Will be interesting to see growth in VILAVI which obviously will mean extra sales for Solagift.



Production company VILAVI

Is there a certificate for the EU?

Certification for the EU is a complex and multilateral procedure. Currently we have the official permission to sell the Tayga8 line in Bulgaria and the EU. This document certifies that the Tayga8 can be sold in Europe, but only from the territory of Bulgaria. Currently, we are preparing to launch a European warehouse, from where the product will be delivered to the EU countries. Of course, we can provide you with a copy of the permit, but it will be useful only to those who live in the European Union and distribute Tayga8 products there.


The type of certificates in Europe differs from certificates issued in the territory of the Russian Federation.

Does the Tayga8 GMP standard?

GMP standard is an international manufacturerâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢s certificate. VILAVI is not a manufacturer, so we did not issue it.

Tayga8 certified?

Tayga8 are quality tested products. Products are certified and have already begun! She underwent a large number of clinical studies, and they also proved the effectiveness of each ingredient. Confirmed by its food safety. You can see all certificates and clinical studies below on the website , they can also be printed.

Where are raw materials purchased? Who is provided? What kind of experts check the raw materials? In which laboratory is the quality control of raw materials carried out?

The quality of the raw materials used for the production of SibXP Complex and drinks based on it is an important condition for the effectiveness and safety of these products. The entire T8 line is made only from natural, environmentally friendly natural raw materials that Siberian taiga provides. All three components of SibXP Complex we get from the needles of taiga trees - mainly from fir. At the same time, we do not cut trees specifically - coniferous paws are purchased from Russian logging companies that use only tree trunks for their needs. Before processing, experts carefully check each twig for mold, the presence of impurities, the thickness of the foot and other indicators. As a result, all raw materials comply with GOST 21769-84 "Woody greens. Technical conditions. " For the production of direct-squeezed juices that make up the T8 Blend , wild-growing berries are used, collected in different regions of the Siberian taiga. The control of raw materials is carried out by the production laboratory in accordance with the rules for the acceptance of berries, and its quality is confirmed by the Declaration of Conformity TR CU 021/2011 "On Food Safety".


Raw materials for Extra are produced by the company "Solagift". The company "Solagift", established in Tomsk in 2008, is a resident of the Special Economic Zone of the technology-innovative type in the city of Tomsk. The company was created to implement the project âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“Development of green waste processing technologiesâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’‚ in the territory of the Tomsk SEZ TVT.


For Blend, an additional annual berry picking takes place every year. Their quality is checked and monitored at all stages.

Who is the Tayga8 manufacturer?

To make a truly high-quality product, the scientists of the Novosibirsk Academgorodok created a unique production line that has virtually no analogues and is used exclusively for the production of T8 Stone .


T8 was created on the basis of joint research by the Institute of Evolutionary Physiology and Biochemistry I.M. Sechenov at the Russian Academy of Sciences and the Australian company Solagran Limited (Melbourne) invested $ 50,000,000 in research to verify the properties of polyprenols from the needles and to get the technology of mass inexpensive production - Tayga8. The only company in the world that receives polyprenols from needles in Siberia. Result: the cost of the daily norm is 50 times less than that of Japanese and other analogues.


The Solagift plant (Tomsk) is an official partner of VILAVI and produces for us the finished T8 Extra, as well as SibXP Complex for the further production of T8 Blend and T8 Splash .

Can I come to production and see how Tayga8 products are made?

No, it wonâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢t work out. The territory of production, like most in our country, is closed to visitors and third parties. As for the production process itself, it is protected by trade secrets.




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Sleek promotion but sales in russia to date very disappointing base on the Dec 2018 financial. maybe it is because reveneu has to be shared between Vilavi, SAVA and maybe also ARTLIFE. Another reason could be the ruskies can't afford it. Europe could be a different matter.Let's hope so.
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The implementation of our project will allow to get about 70,000 tons of berries annually from an area of about 7,000 hectares, which is about 2 hundredths percent of the Tomsk region area (up to 47 times more efficient than picking wild plants).


\We conducted an analysis of global demand in the market for wild berries. The total volume of the world market for wild berries in 2018 was 8 million tons. 1,470 tons of wild berries were harvested throughout the Tomsk region for the 2018 season.


The total budget of the project is 5 billion rubles, and we have already found the main investor: the TISK Group of Companies - 20%, and the Agricultural Bank, under the program of lending to agricultural enterprises, will finance another 80% on concessional terms.


The potential consumers of the berries can become the enterprises processing wild plants for their products in the Tomsk region. (Sava, Artlife, Biolit, Eskimo, Kakheti). According to interviews with representatives of some Tomsk companies, 60% of them are ready to purchase our products. The remaining 40% is supposed to be exported.


In addition, there is a growing demand for plant waste (branches, leaves) not only in the food industry, but also in the medical, cosmetic and pharmacological industry. (Example: Sava, Tomsk Medical / Pharmacological Company)


The risks of the project are connected with the difficulties of interaction between the state, business and the scientific community. The project team has elaborated a set of measures to minimize this risk. The project is already included in the federal program for the development of organic farming using the potential of the peat cluster of the Tomsk region. The project involves the rehabilitation of up to 7,000 hectares, the creation of plantations for the cultivation of wild berries, without pests, diseased forests with the use of innovative technologies for the protection of the territory and harvest. 5000 jobs will be created for the residents of the Tomsk region, while the employees of the enterprise will be able to apply the acquired farming skills for the development of private farms.


Implementation of the project will change the face of Tomsk region, making it an attractive place for comfortable living and working.



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  • 6 months later...
I guess that gives the shareholders a real feel good factor when they are wondering whatever happened to the money they put into this company. I use the term shareholders loosely because they are shareholders no longer. Calling them thin air evaporator-ees is a bit of a mouthful.
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  • 1 month later...

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