Note 22. Matters subsequent to the end of the financial year During September 2025, the existing Convertible Note holders agreed to extend the maturity date of the convertible notes to 2 January 2027, on the same terms and conditions. Accrued interest will be paid to Noteholders for the period ending 2 January 2026 in cash. Interest will be accrued for the remaining life of the Notes. The Note holders will receive a total of 520,000 additional unlisted options for their ongoing financial support on the same terms as the original options issued to the Note holders (50,000 options for each $250,000 in Notes held, exercise price $0.1488, expiring 10 September 2027). In addition, during September 2025, 4F Investments Pty Limited (a company controlled by Fred Bart, Chairman) indicated its intention to subscribe to a secured Convertible Note for $1.25 million on the same terms and conditions as the $2.6 million in Notes issued to sophisticated investors in September 2024, subject to approval by shareholders at the upcoming AGM. In the interim 4F Investments has entered into a unsecured loan agreement with the Company whereby it will provide a $1.25M unsecured loan to the Company at 12% p.a. interest. Once shareholder approval has been obtained under sections 10.1 and 10.11 of the ASX Listing Rules, the unsecured loan facility will be rolled into a Convertible Note. Subsequent to shareholder approval being obtained for the issue of the Note to 4F Investments, 4F investments Pty Limited will receive as an incentive for participating in the Note 250,000 unlisted options (50,000 per $250,000 invested) at a strike price of $0.1488, with a three year term expiring on 10 September 2027 (on the same terms as issued to the existing Note holders). Except as noted above, no matter or circumstance has arisen since 30 June 2025 that has significantly affected, or may significantly affect the consolidated entity’s operations, the results of those operations, or the consolidated entity’s state of affairs in future financial years. Note 23. Reconciliation of loss after income tax to net cash used in operating activities Consolidated 2025 2024 $ $ Loss after income tax expense for the year (4,884,170) (3,578,117) Adjustments for: Depreciation and amortisation 1,743 1,743 Share-based payments 63,990 - Foreign exchange differences 16,341 4,437 Fair value (gain)/ loss on investment in Nyrada Inc. (465,361) (1,047,771) Fair value movement of derivative liability (532,000) - Non-cash finance costs - convertible notes 426,164 - Change in operating assets and liabilities: Decrease/(increase) in trade and other receivables (574,968) 3,701,973 Decrease in trade and other payables 80,864 200,663 Decrease in employee entitlements 42,799 32,762 Net cash used in operating activities (5,824,598) (684,310) Annual Report 2025 42
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