Note 10. Equity - issued capital Consolidated 2025 2024 2025 2024 Shares Shares $ $ Ordinary shares - fully paid 292,237,950 292,237,950 74,635,721 74,635,721 Movements in ordinary share capital Details Date Shares $ Balance 1 July 2023 292,237,950 74,635,721 Balance 1 July 2024 292,237,950 74,635,721 Balance 30 June 2025 292,237,950 74,635,721 Note 11. Equity - Convertible note reserve Consolidated 2025 2024 $ $ Convertible note reserve 15,000 - Note 12. Equity - Option reserve Consolidated 2025 2024 $ $ Option reserve 685,062 929,766 Option reserve The reserve is used to recognise the value of equity benefits provided to employees and directors as part of their remuneration, and other parties as part of their compensation for services. Note 13. Equity - dividends There were no dividends paid, recommended or declared during the current or previous financial year. Note 14. Financial instruments Financial risk management objectives The Board is responsible for overseeing the establishment and implementation of the risk management system, and reviews and assesses the effectiveness of the consolidated entity’s implementation of that system on a regular basis. The consolidated entity’s activities cause no material exposure to market risk (including currency risk and interest rate risk) and credit risk. The only material exposure is liquidity risk and price risk. The consolidated entity’s overall risk management program focuses on the unpredictability of financial markets and seeks to minimise potential adverse effects on the financial performance of the consolidated entity. The consolidated entity uses different methods to measure different types of risk to which it is exposed. The consolidated entity’s financial instruments consist of cash and cash equivalents, financial assets held at fair value through profit and loss and trade and other payables. Annual Report 2025 36
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