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Share-based payments (Tables)
 12 Months Ended
Jun. 30, 2024
Notes and other explanatory information [abstract]  
Schedule of Details of Expense from Performance Rights, Options and Warrants

Details of the expense arising from performance rights, options and warrants:

 

   2024
$		   2023
$		  

2022

$

 
             
ESOP   1,851,329    1,052,245    914,682 
Advisor Options (1)   1,086,938    1,164,524    632,301 
Reach   46,584    148,615    - 
Warrants (2)   253,391    -    - 
Over allotment Option (3)   163,794    -    - 
RSU   1,119,562    -    - 
Total Share based payments*   4,521,598    2,365,384    1,546,983 

 

1.Note that 327,142 Advisor Options vested and were exercised into Shares between July 2023 and December 2023 and 16,193 Advisor Options were forfeited. At June 30, 2024, nil remaining Advisor Options were on issue.

 

 

Note 22. Share-based payments - continued

 

2.Note that this expense is pertaining to the issuance of warrants (equating to 65,000 Ordinary Shares on exercise) to the Underwriter as part of the underwriting agreement. These Warrants will be exercisable at any time and from time to time, in whole or in part, during the four and a half year period commencing 180 days from the commencement of sales of the securities in the Offering, at a price per share equal to 125.0% of the public offering price per share of common stock at the Offering. The issuance acts as additional compensation for ThinkEquity services that would be rendered over a 24 month period from the Closing of the initial public offering. As these services vary and are not for a specific service, the fair value of this allocation cannot be estimated reliably. Thereby, the fair value of these warrants at grant date were calculated by applying the Black-Scholes model. The Company used valuations specialists to perform these valuations.

 

3.Note that this expense is pertaining to the option granted to the underwriter, exercisable within 45 days after the closing of the Offering, to acquire up to an additional 15% of the total number of Shares to be offered by the company in the offering, solely for the purpose of covering over-allotments. This over-allotment option essentially granted the underwriter the right to sell more shares than originally planned if the demand for a security issue proves higher than expected. The fair value of this service cannot be estimated reliably as the exercise was subjective on share price performance and/or timing. Thereby, the fair value of these options at grant date were calculated using the Black-Scholes model. The Company used valuations specialists to perform these valuations. In addition, please note that these options have not been exercised and the 45-day limit has expired.

 
Schedule of Share Options Outstanding

Details of the number of share options outstanding during the year, adjusted to account for the 4-for-5 reverse share split, are as follows:

 

   2024   2023   2022 
ESOP        
   2024   2023   2022 
Beginning of period   784,098    556,074    - 
Granted during the period   -    312,886    556,074 
Forfeited/expired during the period   -    (84,862)   - 
Exercised during the period   -    -    - 
End of the period   784,098    784,098    556,074 

 

   2024   2023   2022 
Advisor        
   2024   2023   2022 
Beginning of period   344,055    312,362    - 
Granted during the period   -    31,693    312,362 
Forfeited/expired during the period   (16,913)   -    - 
Exercised during the period   (327,142)   -    - 
End of the period   -    344,055    312,362 

 

   2024   2023   2022 
Reach    
   2024   2023   2022 
Beginning of period   45,794    -    - 
Granted during the period   -    45,794    - 
Forfeited/expired during the period   -    -    - 
Exercised during the period   -    -    - 
End of the period   45,794    45,794    - 

 

   2024   2023   2022 
RSU        
   2024   2023   2022 
Beginning of period   -    -    - 
Granted during the period   630,729    -    - 
Forfeited/expired during the period   -    -    - 
Exercised during the period   -    -    - 
End of the period   630,729    -    - 

 

   2024   2023   2022 

Over Allotment Option

        
   2024   2023   2022 
Beginning of period   -    -    - 
Granted during the period   195,000    -    - 
Forfeited/expired during the period   (195,000)   -    - 
Exercised during the period   -    -    - 
End of the period   -    -    - 

 

   2024   2023   2022 
Warrants            
   2024   2023   2022 
Beginning of period   -    -    - 
Granted during the period   65,000    -    - 
Forfeited/expired during the period   -    -    - 
Exercised during the period   -    -    - 
End of the period   65,000    -    - 

 

-  2024   2023   2022 
Total  2024   2023   2022 
Total beginning of period   1,173,947    868,436    - 
Total granted during the period   890,729    390,373    868,436 
Total forfeited/expired during the period   (211,913)   (84,862)   - 
Total exercised during the period   (327,142)   -    - 
Total end of the period   1,525,621    1,173,947    868,436 
 
Schedule of Model Inputs For Options Granted

The model inputs for options granted during the reporting periods include:

 

Grant Date  Exercise price   Term   Spot Price   Share price volatility   Expected Dividend yield   Risk free interest rate 
ESOP                        
31 Aug 2021  $0.62    3 years   $5.72    67.3%   0.0%   0.2%
31 Aug 2021  $5.72    3 years   $5.72    67.3%   0.0%   0.2%
1 March 2022  $0.62    3 years   $18.51    66.4%   0.0%   1.5%
23 Feb 2023  $0.23    3.0 years   $5.72    64.5%   0.0%   3.6%
ADVISOR                              
21 Aug 2021  $0.62    2.86 years   $5.72    66.6%   0.0%   0.5%
21 Aug 2021  $0.01    2.86 years   $5.72    66.6%   0.0%   0.5%
21 Aug 2022  $0.01    4.90 years   $10.80    65.4%   0.0%   3.0%

 

 

Note 22. Share-based payments - continued
 

REACH                              
13 Feb 2023  $5.72    3.30 years   $5.72    65.4%   0.0%   3.5%
9 June 2023  $6.73    3.15 years   $6.12    60.1%   0.0%   3.8%

 

RSUs

                              
10 Oct 2023   -    3 years    $7.64    N/A    0%   N/A 
1 Mar 2024   -    3 years   $7.52    N/A    0%   N/A 
                               

 

Warrants                              
27 March 2024
Over allotment		   US$6.25    5 years   $5.00    62.9%   0%   3.7%
27 March 2024  $5.00    0.12 years   $5.00    46%   0%   3.7%