CASH AND CASH EQUIVALENTS

12 Months Ended

Jun. 30, 2024

Cash And Cash Equivalents

CASH AND CASH EQUIVALENTS

11. CASH AND CASH EQUIVALENTS

	2024 A$			2023 A$			2022 A$
Reconciliation of cash and cash equivalents
Cash at bank and on hand		1,020,608			7,851,197			11,731,325
Total cash and cash equivalents		1,020,608			7,851,197			11,731,325
Reconciliation of loss for the year
Reconciliation of loss for the year after income tax to net cash flows used in operating activities is as follows:
Loss for the year after income tax		(12,017,219	)		(11,750,923	)		(7,130,998	)
Tax credit		-			158,329			32,125
Loss for the year before income tax		(12,017,219	)		(11,909,252	)		(7,163,123	)
Adjust for non-cash items and non-operational items
Amortization and depreciation expenses		237,108			380,409			343,427
Depreciation of right-of-use of assets		297,780			296,174			235,241
Impairment of receivables		-			280,725			564,161
Impairment of goodwill		1,332,000			1,845,000			-
Share-based payments expense		124,177			125,500			437,508
Inventory written-off		-			-			30,214
Finance costs		51,622			29,515			15,215
Finance income		(119,511	)		(220,161	)		(36,256	)
Net foreign exchange (gains) / losses		139,540			(152,963	)		(244,762	)
		(9,954,504	)		(9,325,053	)		(5,818,375	)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (cont.)

11. CASH AND CASH EQUIVALENTS (cont.)

	2024 A$			2023 A$			2022 A$
Reconciliation of cash and cash equivalents (cont.)
Adjust for changes in assets and liabilities
Decrease / (Increase) in trade and other receivables		(262,796	)		256,213			(1,889,124	)
(Increase) / Decrease in other operating assets		57,302			(232,961	)		16,493
Decrease / (Increase) in inventories		119,425			72,257			(351,437	)
Decrease / (Increase) in other non-current assets		-			-			97,868
(Decrease) / Increase in trade and other payables		306,845			(432,361	)		2,178,301
(Decrease) / Increase in provisions		54,680			(61,190	)		106,818
Net cash flows used in operating activities		(9,679,048	)		(9,723,095	)		(5,659,456	)
Financing facilities available
As at June 30, 2024, the following financing facilities had been negotiated and were available:
Total facilities
Credit cards		188,500			188,630			190,020
Facilities used as at reporting date
Credit cards		(56,750	)		(16,029	)		-
Facilities unused as at reporting date
Credit cards		131,750			172,601			190,020

The Company’s main interest rate risk arises in relation to its short-term deposits with various financial institutions. If rates were to decrease, the Company may generate less interest revenue from such deposits. However, given the relatively short duration of such deposits, the associate risk is relatively minimal.

The Company has a Short-Term Investment Policy which was developed to manage the Company’s surplus cash and cash equivalents. In this context, the Company adopts a prudent approach that is tailored to cash forecasts rather than seeking high returns that may compromise access to funds as and when they are required. Under the policy, the Company deposits its surplus cash in a range of deposits over different time frames and with different institutions in order to diversify its portfolio and minimize risk.