XML 37 R26.htm IDEA: XBRL DOCUMENT v3.23.3
Equity - Reserves and Retained Earnings
 12 Months Ended
Jun. 30, 2023
Statement [LineItems]  
Equity - Reserves and Retained Earnings
NOTE 21. EQUITY – RESERVES AND RETAINED EARNINGS
 
 
  
Consolidated
 
 
  
June 30, 2023
 
  
June 30, 2022
 
 
  
A$
 
  
A$
 
(a) Reserves
  
  
Options issued reserve
  
 
19,116,205
 
  
 
19,116,205
 
Conversion feature of convertible note reserve
  
 
2,589,486
 
  
 
5,178,972
 
Foreign currency translation reserve
  
 
3,844,507
 
  
 
252,005
 
Share-based payment reserve
  
 
4,577,520
 
  
 
4,457,636
 
    
 
 
     
 
 
  
 
  
 
30,127,718
 
  
 
29,004,818
 
    
 
 
     
 
 
  
Movement in options issued reserve were as follows:
  
 
 
 
  
 
 
 
Opening balance and closing balance
  
 
19,116,205
 
  
 
19,116,205
 
    
 
 
     
 
 
  
Movements in conversion feature of convertible note reserve:
  
 
 
 
  
 
 
 
Opening balance
  
 
5,178,972
 
  
 
10,357,944
 
Transfer to accumulated losses on conversion of Convertible Notes
  
 
(2,006,280
) 
  
 
(4,012,560
) 
Transfer to contributed equity on conversion of Convertible Notes
  
 
(583,206
) 
  
 
(1,166,412
) 
    
 
 
     
 
 
  
Ending balance
  
 
2,589,486
 
  
 
5,178,972
 
    
 
 
     
 
 
  
Movement in foreign currency translation reserve were as follows:
  
 
 
 
  
 
 
 
Opening balance
  
 
252,005
 
  
 
1,174,332
 
Currency translation differences arising during the year
  
 
3,592,502
 
  
 
(922,327
) 
    
 
 
     
 
 
  
Ending balance
  
 
3,844,507
 
  
 
252,005
 
    
 
 
     
 
 
  
Movement in share-based payment reserve were as follows:
  
 
 
 
  
 
 
 
Opening balance
  
 
4,457,636
 
  
 
3,843,045
 
Option and Performance rights expensed during the year
  
 
2,001,572
 
  
 
1,486,841
 
Exercise of vested performance rights transferred to contributed equity
  
 
(1,881,688
) 
  
 
(872,250
) 
    
 
 
     
 
 
  
Ending balance
  
 
4,577,520
 
  
 
4,457,636
 
    
 
 
     
 
 
  
(b) Accumulated losses
  
 
 
 
  
 
 
 
Movement in accumulated losses were as follows:
  
 
 
 
  
 
 
 
Opening balance
  
 
(302,335,209
) 
  
 
(274,642,220
) 
Net loss for the year
  
 
(39,896,348
) 
  
 
(32,210,826
) 
Conversion of Convertible Notes*
  
 
2,301,025
 
  
 
4,517,837
 
Exercise of warrants
  
 
—
 
 
  
 
—
 
 
    
 
 
     
 
 
  
Ending Balance
  
 
(339,930,532
) 
  
 
(302,335,209
) 
    
 
 
     
 
 
  
 
*
The conversion of convertible notes to accumulated losses amounted to $2,301,025 (FY2022: 4,517,837). This amount is comprised of: $2,006,280 (FY2022: $4,012,560 ) related to the fair value feature of the converted convertible notes and $294,745 (FY2022: $505,277 ) related to the unwinding of the discount (fair value adjustment).
Nature and purpose of reserves
(i) Conversion feature of convertible note reserve
This amount relates to the conversion feature of the convertible note issued to Ridgeback Capital Investments which has been measured at fair value as required by AASB 2 (IFRS 2).
(ii) Foreign currency translation reserve
Exchange differences arising on translation of the foreign controlled entity are recognized in other comprehensive loss as described in note 1(d) and accumulated in a separate reserve within equity. The cumulative amount is reclassified to profit or loss when the net investment is disposed of.
(iii) Share-based payments reserve
The share-based payments reserve is used to recognize the grant date fair value of options and performance rights issued to employees but not exercised. For a reconciliation of movements in the share-based payment reserves refer to note 32.