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Equity - Reserves and Retained Earnings

12 Months Ended

Jun. 30, 2024

NOTE 21. EQUITY – RESERVES AND RETAINED EARNINGS


	Consolidated
	June 30, 2024			June 30, 2023
	A$			A$
(a) Reserves
Options issued reserve		19,116,205			19,116,205
Conversion feature of convertible note reserve		2,589,486			2,589,486
Foreign currency translation reserve		2,423,316			3,844,507
Share-based payment reserve		5,934,705			4,577,520

		30,063,712			30,127,718

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		2,589,486			5,178,972
Transfer to accumulated losses on conversion of Convertible Notes		—			(2,006,280	)
Transfer to contributed equity on conversion of Convertible Notes		—			(583,206	)

Ending balance		2,589,486			2,589,486

Movement in foreign currency translation reserve were as follows:
Opening balance		3,844,507			252,005
Currency translation differences arising during the year		(1,421,191	)		3,592,502

Ending balance		2,423,316			3,844,507

Movement in share-based payment reserve were as follows:
Opening balance		4,577,520			4,457,636
Option and Performance rights expensed during the year		1,796,286			2,001,572
Exercise of vested performance rights transferred to contributed equity		(439,101	)		(1,881,688	)

Ending balance		5,934,705			4,577,520

(b) Accumulated losses
Movement in accumulated losses were as follows:
Opening balance		(339,930,532	)		(302,335,209	)
Net loss for the year		(42,716,625	)		(39,896,348	)
Conversion of Convertible Notes*		—			2,301,025

Ending Balance		(382,647,157	)		(339,930,532	)

*	The contribution of conversion of convertible notes to accumulated losses is nil (FY2023: $2,301,025).

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 at the time of issue 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 and other parties but not exercised. For a reconciliation of movements in the share-based payment reserves refer to note 32.