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Financial Liabilities
 12 Months Ended
Jun. 30, 2024
Financial Liabilities

Note 21. Financial Liabilities

Schedule of Financial Liabilities

  

2024

($)

  

2023

($)

 
Convertible note payable - Current   -    25,331,307 
Convertible note payable – Non Current   -    10,273,278 
Total Financial Liabilities   -    35,604,585 
           
Host Liability - Current   -    16,567,450 
Host Liability – Non Current   -    342,406 
Derivative liability -Current   -    8,763,857 
Derivative liability - Non Current   -    9,930,872 
Total Convertible Notes Payable   -    35,604,585 

 

The convertible notes issued by the Company have been split into the debt liability and a derivative component. The fair value of the Financial Liabilities for the host liability and the derivative liability has been determined using a combination of Monte Carlo Simulation (MCS) and Black-Scholes model (BSM).

 

During the reporting period Series A – July 21 matured and converted to equity on 7 July 2023, while Series A, Series A – Aug 21, Series B1, Series B2 and Series A Extension matured and converted to equity on 31 December 2023. During the reporting period the Company issued two additional Convertible Notes for the acquisition of Mixed Martial Arts LLC and Steppen. Mixed Martial Arts LLC, Steppen, Reach and Private Placement convertible notes converted to equity or were redeemed for cash on March 28, 2024, on successful listing on the NYSE by the Company, as per the conversion date in the table below.

 

Convertible notes held by investors in the reporting period are summarized below:

Schedule of Convertible Notes held by Investors

Series A

Key Terms of this Series A convertible notes are as follows

    
     
Issue date   23-Dec-20 
Pre Modification Maturity Date   23-Dec-22 
Modification Date   1-Dec-22 
Modified Maturity Date   31-Dec-23 
Conversion Date   31 -Dec 23  
Term (Years)   2.0 
Face Value   7,319,818 
Interest Rate   8.5%
Conversion Discount (Qualified Equity Investment)   20.0%

 

 

Note 21. - Financial Liabilities - continued

 

Series A – July 21

    
Key Terms of this Series A convertible notes are as follows    
     
Issue Date   7-Jul-21 
Maturity Date   7-Jul-23 
Conversion Date   7-Jul-23 
Term (Years)   2.0 
Face Value   525,000 
Interest Rate   8.5%
Conversion Discount (Qualified Equity Investment)   20.0%

 

Series A – August 21    
Key Terms of this Series A convertible notes are as follows    
     
Issue Date   20-Aug-21 
Pre Modification Maturity Date   9 -Dec-22 
Modification Date   1-Dec-22 
Modified Maturity Date   31-Dec-23 
Conversion Date   31-Dec-23 
Term (Years)   1.3 
Face Value   172,000 
Interest Rate   8.5%
Conversion Discount (Qualified Equity Investment)   20.0%

 

Series B1

    
Key Terms of this Series B1 convertible notes are as follows    
     
Issue Date   15-Dec-21 
Pre Modification Maturity Date   15-Dec-23 
Modification Date   1-Dec-22 
Modified Maturity Date   31-Dec-23 
Conversion Date   31.Dec-23 
Term (Years)   2.0 
Face Value   4,982,652 
Interest Rate   8.5%
Conversion Discount (Qualified Equity Investment)   20.0%

 

 

Note 21. Financial Liabilities - continued

 

Series B2

    
Key Terms of this Series B2 convertible notes are as follows    
     
Issue Date   1-July-22 
Pre Modification Maturity Date   30-June-24 
Modification Date   1-Dec-22 
Modified Maturity Date   31-Dec-23 
Conversion Date   31-Dec-23 
Term (Years)   2.0 
Face Value   671,284 
Interest Rate   10%
Conversion Discount (Qualified Equity Investment)   20.0%

 

A Extension

    
Key Terms of this Series A Extension convertible notes are as follows    
     
Issue Date   16-Nov-22 
Maturity Date   31-Dec-23 
Conversion Date   31-Dec-23 
Term (Years)   1.1 
Face Value   1,571,873 
Interest Rate   15%
Conversion Discount (Qualified Equity Investment)   25%

 

Reach

    
Key Terms of this Reach convertible notes are as follows    
     
Issue Date   13-Feb-23 
Maturity Date   13-Feb-25 
Conversion Date **   28-Mar-24 
Term (Years)   2.0 
Face Value*   3,195,000 
Interest Rate   15%
Conversion Discount (Qualified Equity Investment)   20%

 

* $3,025,841 of Reach convertible notes, inclusive of accrued interest, were rolled into the Private Placement on June 9, 2023.
** $1,029,617 was redeemed for cash, the remaining Reach notes were converted to equity.

 

 

Note 21. Financial Liabilities - continued

 

Private Placement

    
Key Terms of this Private Placement convertible notes are as follows    
     
Issue Date   9-June-23 
Maturity Date   9-June-25 
Conversion Date   28-Mar-24 
Term (Years)   2.0 
Face Value   9,215,591 
Interest Rate   10%
Conversion Discount (Qualified Equity Investment)   30%

 

Mixed Martial Arts LLC    
Key Terms of this Mixed Martial Arts LLC convertible note are as follows    
     
Issue Date   26-Oct-23 
Maturity Date   9-June-25 
Conversion Date   28-Mar-24 
Term (Years)   1.6 
Face Value   384,750 
Interest Rate   10%
Conversion Discount (Qualified Equity Investment)   25%

 

Steppen

    
Key Terms of this Steppen convertibles note are as follows    
     
Issue Date   20-Sept-23 
Maturity Date   9-June-25 
Conversion Date   28-Mar-24 
Term (Years)   1.7 
Face Value   100,00 
Interest Rate   10%
Conversion Discount (Qualified Equity Investment)   25%