Financial Statement and Notes to the Financial Statements CONSOLIDATED STATEMENT OF CASH FLOWS For the Year Ended 30 June 2014 This statement should be read in conjunction with the notes to the financial statements. Note 2014 2013 $ $ CASH FLOWS FROM OPERATING ACTIVITIES  Receipts from customers  260,310  566,754 Research and development grants  775,833  824,333 Interest received  321,116  133,011 Income tax benefit  454,365  Payments to suppliers and employees (11,081,963)  (4,256,694) Net cash used in operating activities  8  (9,270,339)  (2,732,596) CASH FLOWS FROM INVESTING ACTIVITIES Business acquisition  26  -  143,603 Purchase of property, plant and equipment  (32,365)  (9,889) Net cash provided by investing activities  (32,365)  133,714 CASH FLOWS FROM FINANCING ACTIVITIES Net proceeds from issue of shares  39,075,618  1,086,844 Net cash provided by financing activities  39,075,618  1,086,844 Net decrease in cash held  29,772,914  (1,512,038) Exchange differences on cash and cash equivalents  (1,014)  23,457 Cash and cash equivalents, beginning of year 1,587,299  3,075,880 Cash and cash equivalents, end of year  8  31,359,199  1,587,299 Benitec Biopharma Ltd  Annual Report 2014 Page 21