Annual financial statement
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2 November 2026 CAP-XX Limited ("CAP-XX" or the "Company") Audited Results for the Year Ended 30 June 2026 New orders up 35% and EBITDA losses down 33% CAP-XX Limited (AIM: CPX), a global leader in the design and manufacture of supercapacitors and energy management systems, announces its audited results for the year ended 30 June 2026 ("FY26") and provides an update on trading for the three months ended 30 September 2026 ("Q1 FY27"). FY26 Financial Highlights Revenue increased by approximately 11% to A$5.21 million (FY25: A$4.70 million) EBITDA loss reduced by approximately 33% to A$2.03 million (FY25: A$3.04 million loss) Loss after tax reduced by approximately 28% to A$2.82 million (FY25: A$3.93 million loss) Orders received increased 35% to A$6.71 million Total order backlog increased 26% to A$3.42 million Cash of A$0.87 million at 30 June 2026 (FY25: A$3.96 million), since strengthened by a A$4.4 million (£2.3 million) capital raise in July 2026 and an A$1.93 million R&D tax incentive (FY25: A$1.75 million) expected to be received before the end of the calendar year FY26 Commercial Highlights EMEA revenue increased 51% to A$3.05 million Expanded global distribution network, including RS Group plc, Premier Farnell and Waldom UK SCHURTER AG partnership progressed with white-label products launched Strategic partnership established with Würth Elektronik Major global customer design-ins progressed towards recurring revenues FY26 Operational Highlights Significant reduction in the Group's operating cost base Implementation of the Warehouse Management System at Seven Hills, integrated with CRM, MYOB and Power BI, improving visibility across procurement, manufacturing, inventory and order fulfilment Continued development of CAP-XX's ultra-thin DMH platform, SMT supercapacitor technology and higher- capacity Module products Post Year End: Q1 FY27 Trading (1 July to 30 September 2026) Q1 FY27 Revenue increased by approximately 25% to A$1.30 million (Q1 FY26: A$1.04 million) Q1 FY27 Orders increased by 66% to A$2.07 million (Q1 FY26: A$1.25 million) Q1 FY27 Backlog increased by 23% to A$4.20 million from 1 July to 30 September 2026 In summary, having materially reduced losses and strengthened demand, our focus in FY27 is to increase revenue and continue our progress towards break-even. Investor presentation Lars Stegmann, Chief Executive Officer, and Tony Guarna, Interim CFO will provide a live presentation relating to the FY26 results via the Investor Meet Company platform on 3 November 2026 at 10:00 a.m. GMT. Management will address questions submitted in advance of the meeting only. Questions can be submitted via your Investor Meet Company dashboard until 17:00 GMT on 2 November 2026. Investors can sign up to Investor Meet Company for free and add to meet CAP-XX via: https://www.investormeetcompany.com/cap-xx-limited/register-investor Investors who already follow CAP-XX Limited on the Investor Meet Company platform will automatically be invited. For further information, please contact:
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CAP-XX Limited Graham Cooley (Chairman) Lars Stegmann (Chief Executive Officer) +61 (2) 9157 0000 Allenby Capital (Nominated Adviser and Sole Bookrunner) David Hart / David Asquith (Corporate Finance) Tony Quirke / Jos Pinnington (Sales and Corporate Broking) +44 (0) 20 3328 5656 Notes to Editors: CAP-XX (LSE: CPX) is a leader in the design and manufacture of thin, flat supercapacitors and energy management systems used in portable and small-scale electronic devices, and to an increasing extent, in larger applications such as automotive and renewable energy. The unique feature of CAP-XX supercapacitors is their very high-power density and high energy storage capacity in a space-efficient prismatic package. These attributes are essential in power-hungry consumer and industrial electronics and deliver similar benefits in automotive and other transportation applications. For more information about CAP-XX, visit www.cap-xx.com Chairman's Statement The financial year ended 30 June 2026 was a year of significant progress for CAP-XX. Most importantly, itdemonstrated that the actions taken over the past two years to strengthen the business are translating intosubstantially improved financial performance and growing commercial momentum. Sale of goods revenue increased approximately 11% to A$5.21 million from A$4.70 million, and totaloperating revenue in FY26 was A$5.29 million. EBITDA loss improved by approximately 33% to A$2.03million and the loss after tax improved by approximately 28% to A$2.82 million. This improvement in performance is particularly important because it was achieved while maintaininginvestment in research and product development. It demonstrates the operational leverage within thebusiness as we increase revenue, improve margins and maintain disciplined control of our cost base. Demand for CAP-XX products also strengthened during the year. Orders received increased 35% to A$6.71million and CAP-XX finished FY26 with an order backlog of A$3.42 million, 26% higher than thecorresponding prior-year position. Our strategy is focused on converting this growing demand, together with customer design-ins and oursubstantially broader global routes to market, into repeatable revenues. Our relationship with SCHURTERAG continued to progress during the year, with commercial and engineering agreements in place, white-labelproducts launched and an expanding project pipeline. We also continued to progress design-ins with majorglobal customers, which have the potential to generate multi-year recurring revenues. Following the year end, CAP-XX successfully raised approximately £2.3 million (A$4.4 million) gross througha placing, subscription and oversubscribed retail offer. I would particularly like to thank our existingshareholders for their continued support and welcome the new investors who have chosen to back CAP-XX.We also expect to receive a A$1.93 million R&D tax incentive (FY25: A$1.75 million) before the end of thiscalendar year. These funds will support the next stage of the Company’s development. The majority of the proceeds willsupport increased manufacturing capability, including upgrades to the DMF/DMT production line, expansionof DMH capacity and investment in coating capability, alongside working capital, customer acquisition anddistributor growth. Our objective remains clear: to build CAP-XX into a sustainably profitable and cash-generative globalbusiness. FY26 represents substantial progress towards that objective. Having materially reduced lossesand strengthened demand, our focus in FY27 is to increase revenues, improve margins and continue ourprogress towards break-even. CAP-XX enters FY27 with a larger order book, broader global routes to market, improving financialperformance and the capital required to support growth. The task now is execution: converting thesestronger foundations into sustainable profitable growth and positive cash flow. On behalf of the Board, I would like to thank Lars and the entire CAP-XX team for their commitmentthroughout the year, together with our customers, partners and shareholders for their continued support. Chief Executive Officer's Review During FY26, CAP-XX operated amid significant geopolitical and supply-chain disruption. Conflict affectingthe Red Sea, Suez Canal and global energy routes, the continuing war in Ukraine, and intensifying US-
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China trade restrictions increased energy, freight, and insurance costs, constrained transport capacity andextended lead times. Against this backdrop, CAP-XX maintained disciplined operations, diversified its routesto market and invested selectively to strengthen the foundations for sustainable growth and long-termshareholder value. Orders received increased 35% to A$6.71 million, while the year-end order backlog rose by 26% to A$3.42million, providing greater revenue visibility entering FY27. Our objective is to convert design-ins, distributionrelationships and technology partnerships into recurring revenue, manage costs and sustainable cashgeneration. Commercial development During FY26, CAP-XX expanded its international customer base and distribution network through partnersincluding RS Group plc, DigiKey, Premier Farnell Limited and TME. The network now serves customers inmore than 30 countries, supporting projects from initial design and prototyping through to full-scaleproduction. Our relationship with SCHURTER AG advanced through commercial and engineering agreements, white-label product launches and a coordinated go-to-market strategy. We also progressed design wins with majorglobal customers, where successful qualification can generate recurring production revenue over multipleyears. European revenue increased by approximately 51% to A$3.05 million, making Europe CAP-XX's largestmarket and contributing approximately 58% of Group operating revenue. Operational execution Efficient, reliable and scalable manufacturing is essential to converting commercial momentum into strongermargins and sustainable cash generation. During FY26, we further implemented and optimised ourWarehouse Management System across Seven Hills and our Malaysian contract manufacturing partner,improving visibility and control across procurement, production, inventory and fulfilment. Following year-end, the approximately A$4.4 million gross capital raising provided funding to expand DMHcapacity, upgrade the DMF/DMT production line, enhance coating capability and support working capital. Wewill deploy this capital with discipline, focusing on margin improvement and operational returns. Products and technology Innovation remains central to CAP-XX’s long-term competitive position. During FY26, we advanced the ultra-thin DMH platform, the SMT supercapacitor range and higher-capacity Module products for applicationsincluding industrial equipment, data centres and grid stabilisation. R&D investment remains focused on product performance, manufacturability, new applications and theprotection of proprietary know-how. Priority will be given to opportunities with a credible path to commercialscale and sustainable returns. Outlook CAP-XX enters FY27 with a larger order backlog, broader access to global customers, major customerdesign-ins progressing towards production and additional capital to expand manufacturing capability. Ourpriority is to convert these strengths into sustained revenue growth, manage cost, cash generation and long-term shareholder value. We will execute the order book, convert design-ins and partnerships into recurring revenue, expand capacityin line with demonstrated demand, improve margins, and maintain rigorous control of costs, capitalexpenditure and working capital. Our focus for FY27 and beyond is clear: to build a sustainably profitable, cash-generative global energy-storage business. On behalf of the Board, I thank our customers, partners and shareholders for their continued confidence andsupport, and the CAP-XX team for its commitment and contribution throughout FY26. Business Review Review of Operations and Activities During FY26, CAP-XX Limited continued the transformation of its operations towards a more commerciallyfocused, scalable and financially sustainable business. The Group's principal activities remained the development, manufacture and sale of supercapacitors. CAP-XX's strategy is focused on increasing adoption of its high-performance supercapacitor technologies throughdirect sales, global distribution partnerships, customer design wins and strategic commercial relationships. Financial performance
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Sale of goods revenue increased to $5.21 million in FY26 compared to $4.70 million in FY25, an increase ofapproximately 11% and total operating revenue for FY26 increased to $5.29 million, compared with $4.94million in FY25, an increase of approximately 7%. The Group recorded a loss after tax of $2.82 million, compared with a loss of $3.93 million in FY25, animprovement of approximately 28%. A reconciliation of the loss attributable to the owners of CAP-XX Limited as reported in the consolidatedstatement of profit or loss through to EBITDA and Adjusted EBITDA is set out below. EBITDA and Adjusted EBITDA improved materially during the year: 2026 2025 $ $ EBITDA and Adjusted EBITDA Calculation Loss before income tax (2,815,870) (3,925,922)Depreciation and Amortisation expense 650,229 716,959Interest Expense 172,924 240,902 Interest Income (33,640) (73,993) EBITDA (2,026,357) (3,042,054) Share based payments-options expense 170,146 397,968 Add back: Non-recurring restructuring costs 100,258 - Adjusted EBITDA (1,755,953) (2,644,086) The improvement in EBITDA reflects higher revenue, together with tighter control of the Group's operating costbase. General and administrative expenses reduced materially compared with FY25, while employee benefitsexpense reduced to $2.96 million from $3.13 million. Other income included an R&D Tax Incentive Grant of $1.93 million (2025: $1.75 million). Cash and cash equivalents at 30 June 2026 were $0.87 million, compared with $3.96 million at 30 June 2025.The Group has also recognised an R&D tax credit receivable of $1.93 million expected to be received beforethe end of the calendar year (2025: $1.75 million). Commercial performance Commercial activity strengthened during FY26. The Group closed FY26 with bookings of $6.71 million (an increase of 35% over the corresponding prior year)and a backlog order book of $3.42 million (an increase of 26% compared with the corresponding prior year). This performance reflects increasing customer engagement, the development of CAP-XX's global distributionnetwork and progress in converting design-in opportunities into commercial orders. The Group's revenue mix also became increasingly international. EMEA revenue increased approximately 51%from $2.02 million to $3.05 million and represented approximately 58% of the total Group revenue. APACgenerated $1.80 million and the Americas $0.43 million. Customer concentration reduced during the year with one customer contributing more than 10% of Grouprevenue in FY26, compared with three customers each contributing 10% of FY25 Group revenue. Distribution and strategic partnerships CAP-XX continued to expand its routes to market through a combination of direct customer engagement andglobal distribution relationships. The distribution agreement with RS Group plc expanded the availability of CAP-XX's prismatic, cylindrical andhybrid supercapacitors through RS Group plc's international distribution and logistics infrastructure. Togetherwith Farnell (Avnet), Digi-Key and Waldom UK Limited, these relationships provide CAP-XX with access tocustomers from early-stage engineering and prototyping through to commercial production. The Group's white-label relationship with SCHURTER AG also progressed during FY26. Commercial andengineering contracts have been entered into, products launched and a go-to-market strategy established, withan initial project pipeline under development. Manufacturing and operational performance During FY26, CAP-XX continued to improve the efficiency, visibility and scalability of its manufacturingoperations. A significant milestone was the implementation of the Datapel Warehouse Management System at the SevenHills facility. The system provides greater control over procurement, manufacturing tracking, sales-orderfulfilment and inventory, while integration with Pipeliner CRM, MYOB and Power BI has improved managementreporting and operational visibility.
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Inventory levels have remained stable, as at 30 June 2026 inventory holdings were $1.02 million compared to$0.99 million as at the prior year end. The Group continued to manufacture electrode material and selected supercapacitor products at Seven Hillswhile utilising outsourced production for larger-volume product lines. Research, development and product strategy CAP-XX continued to invest in research and product development during FY26, with research expenditure ofapproximately $4.44 million, compared with $3.76 million in FY25. Development activities included CAP-XX's ultra-thin DMH platform, the continued development and commercialassessment of SMT supercapacitors and development of higher-capacity Module products. The SMT programme is intended to broaden the applications in which CAP-XX products can be incorporatedby enabling compatibility with conventional automated electronics assembly processes. The Group continues toevaluate the commercial applications, customer demand and revenue opportunities associated with thetechnology. The Module product range represents an extension of CAP-XX's technology into customised higher-energy andhigher-power systems, with potential applications including industrial equipment, data centres and gridstabilisation. During FY26 the Group also continued to develop technical content supporting customers and engineers,including publication of an application white paper explaining methods for measuring supercapacitorcapacitance, Equivalent Series Resistance and leakage current. People, quality and sustainability CAP-XX continued to invest in its organisational capabilities during FY26. The Group was recognised as one ofAustralia's Best Places to Work 2026, reflecting the importance placed on employee engagement andorganisational culture. The Group continues to maintain quality and environmental management systems supporting its manufacturingactivities. No breaches of applicable environmental regulatory requirements were reported during FY26. Subsequent events and outlook On 30 July 2026, CAP-XX announced a placing and subscription to raise gross proceeds of GBP£2.2 million,together with a retail offer of up to GBP£0.1 million, at an issue price of 0.15 pence per share. On 3 August2026 the capital raise concluded, raising total gross proceeds (before expenses) of $4.4 million (GBP£2.3million). The proceeds are intended principally to fund manufacturing expansion, including upgrading the existingDMF/DMT line, increasing DMH production capacity and developing a clean coating room applicable acrossthe Group's product lines. The Group also intends to support customer acquisition, distributor growth andgeneral working capital. CAP-XX enters FY27 with an increased order backlog, broader global distribution network, improving operatingperformance and a growing portfolio of customer design-in opportunities. The Board's priorities for FY27 are to convert the existing backlog and commercial pipeline into revenue,increase manufacturing capacity, improve margins, maintain disciplined control of operating expenditure andworking capital, and progress the Group towards sustainable positive operating cash flow.
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Consolidated statement of profit or loss and other comprehensive income for the year ended 30 June 2026 Note 2026 2025 $ $ Revenue Revenue from contracts with customers 5 5,288,096 4,939,728Cost of sales (2,179,505) (2,931,104) Gross profit 3,108,591 2,008,624 Other income 6 1,947,716 2,141,349Finance income 6 33,640 73,993 Expenses Process and engineering expenses (528,202) (865,717)Research expenses (4,439,352) (3,764,945)Other expenses (255,575) (24,711)Finance costs 7 (172,924) (240,902)Selling and marketing expenses (790,682) (540,056)General and administrative expenses (1,719,082) (2,713,557) Loss before income tax expense 7 (2,815,870) (3,925,922) Income tax expense - - Loss after income tax expense for the year attributableto the owners of CAP-XX Limited (2,815,870) (3,925,922) Other comprehensive income Items that may be reclassified subsequently to profit or loss Exchange differences on translation of foreign operations (746) (56,640) Other comprehensive income for the year, net of tax (746) (56,640) Total comprehensive loss for the year attributableto the owners of CAP-XX Limited (2,816,616) (3,982,562) Earnings per share for loss attributable to theOrdinary equity holders of the Company Basic loss per share (cents per share) 32 (0.05) (0.08)Diluted loss per share (cents per share) 32 (0.05) (0.08) The above consolidated statement of profit or loss and other comprehensive income should be read in conjunction with theaccompanying notes
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Consolidated statement of financial position as at 30 June 2026 Note 2026 2025 $ $ Assets Current assets Cash and cash equivalents 9 872,968 3,956,163Trade and other receivables 10 2,776,722 2,471,775Inventories 11 1,023,688 991,017Other assets 12 68,152 65,937 Total current assets 4,741,530 7,484,892 Non-current assets Property, plant and equipment 13 1,507,612 1,699,718Intangibles 14 182,069 149,715Right-of-use assets 15 1,184,581 1,515,161Other assets 16 307,360 204,808 Total non-current assets 3,181,622 3,569,402 Total assets 7,923,152 11,054,294 Liabilities Current liabilities Trade and other payables 17 1,078,100 1,297,348Lease liabilities 18 340,813 442,561 Employee benefit obligations 19 385,276 466,563 Total current liabilities 1,804,189 2,206,472 Non-current liabilities Lease liabilities 18 1,102,566 1,300,036Employee benefit obligations 19 76,159 63,102Provisions 20 785,863 785,863 Total non-current liabilities 1,964,588 2,149,001 Total liabilities 3,768,777 4,355,473 Net assets 4,154,375 6,698,821 Equity Contributed equity 21 128,938,954 128,836,930Reserves 22 8,842,497 8,673,097Accumulated losses 22 (133,627,076) (130,811,206) Total equity 4,154,375 6,698,821 The above consolidated statement of financial position should be read in conjunction with the accompanying notes Consolidated statement of changes in equity for the year ended 30 June 2026 Note Issuedcapital Reserves AccumulatedLosses TotalEquity $ $ $ $ Balance at 1 July 2024 122,900,813 8,437,602 (126,885,284) 4,453,131 Loss after income tax expense for theyear - - (3,925,922) (3,925,922)Other comprehensive income for theyear,net of tax (56,640) - (56,640) Total comprehensive income for theyear - (56,640) (3,925,922) (3,982,562) Transactions with owners in theircapacity as owners: Contributions of equity, net oftransaction costs and tax 21(b) 5,830,284 - - 5,830,284Employee share options - share basedpayments 22(a) - 397,968 - 397,968Warrants exercised 105,833 (105,833) - -
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Note Issuedcapital Reserves AccumulatedLosses TotalEquity $ $ $ $ 21(b) Balance at 30 June 2025 128,836,930 8,673,097 (130,811,206) 6,698,821 Note Issuedcapital Reserves AccumulatedLosses TotalEquity $ $ $ $ Balance at 1 July 2025 128,836,930 8,673,097 (130,811,206) 6,698,821 Loss after income tax expense for theyear - - (2,815,870) (2,815,870)Other comprehensive income for theyear,net of tax - (746) - (746) Total comprehensive income for theyear - (746) (2,815,870) (2,816,616) Transactions with owners in theircapacity as owners: Contributions of equity, net oftransaction costs and tax 21(b) 102,024 - - 102,024Employee share options - sharebased payments 22(a) - 170,146 - 170,146 Balance at 30 June 2026 128,938,954 8,842,497 (133,627,076) 4,154,375 The above consolidated statement of changes in equity should be read in conjunction with the accompanying notes Consolidated statement of cash flows for the year ended 30 June 2026 Note 2026 2025 $ $ Cash flows from operating activities Receipts from customers (inclusive of GST) 5,312,664 5,017,105Payments to suppliers and employees (inclusive of GST) (9,443,858) (9,157,248) (4,131,194) (4,140,143) R&D Tax incentive received 1,749,696 1,953,159Interest received 33,640 73,993Interest and other finance costs paid (172,924) (240,902) Net cash used in operating activities (2,520,782) (2,353,893) Cash flows from investing activities Payments for property, plant and equipment (127,543) (40,885)Payments for intangibles (32,354) (149,714)Additional security deposit paid (102,552) - Net cash used in investing activities (262,449) (190,599) Cash flows from financing activities Proceeds from issue of shares - 6,321,132Costs associated with the issue of shares - (490,846) Proceeds from borrowings - 814,464 Repayment of borrowings - (1,582,638)Principal repayment of lease liabilities (299,218) (265,567) Net cash (used in) / provided by financing activities (299,218) 4,796,545 Net (decrease) / increase in cash and cash equivalents (3,082,449) 2,252,053Cash and cash equivalents at the beginning of the financial year 3,956,163 1,760,750Effects of exchange rate changes on cash and cash equivalents (746) (56,640) Cash and cash equivalents at the end of the financial year 9 872,968 3,956,163 The above consolidated statement of cash flows should be read in conjunction with the accompanying notes
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Notes to the consolidated financial statements for the year ended 30 June 2026 Note 1. Material Accounting Policy Information The material accounting policy information relating to the preparation of these consolidated financialstatements is set out below. These policies have been consistently applied to all the years presented, unlessotherwise stated. The consolidated financial statements are for the consolidated entity consisting of CAP-XXLimited and its controlled entities. All amounts shown are in Australian dollars, rounded to the nearest dollar, unless otherwise stated. (a) Basis of preparationThese general purpose financial statements have been prepared in accordance with Australian AccountingStandards and Interpretations issued by the Australian Accounting Standards Board and the CorporationsAct 2001. CAP-XX Limited is a for-profit entity for the purpose of preparing the consolidated financialstatements. Note 5. Revenue 2026 2025 $ $Sales revenue Sale of goods (recognised at a point in time) 5,214,480 4,704,719Other services provided (recognised at a point in time) 73,616 235,009 5,288,096 4,939,728 Note 6. Other income and finance income 2026 2025 $ $ Other IncomeR&D Tax Incentive Grant 1,926,458 1,749,696Other income 21,258 -Net foreign exchange gains - 391,653 Other income 1,947,716 2,141,349 Finance Income Interest income 33,640 73,993 Note 7. Result for the yearThe result for the year includes the following specific expenses: 2026 2025 $ $ Depreciation and amortisation 650,229 716,959 Net foreign exchange losses 255,575 - Legal expenses 22,090 28,848 Share based payments 170,146 397,968 Employee benefits expense 2,957,244 3,126,923 Finance costs Interest – lease liabilities 143,343 164,104 Other interest costs incurred 29,581 76,798 172,924 240,902
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Note 9. Current assets - cash and cash equivalents 2026 2025 $ $ Cash at bank 872,968 1,384,081 Cash on deposit - 2,572,082 872,968 3,956,163 Note 10. Current assets - trade and other receivables 2026 2025 $ $ Trade receivables 866,671 845,918Less: Allowance for expected credit losses (16,407) (154,645) Research & development tax credit 1,926,458 1,780,502 2,776,722 2,471,775 Note 11. Current assets - inventories 2026 2025 $ $ Raw materials and stores 778,621 681,849Work in progress - 64,135Finished goods 305,361 279,514 Obsolescence provision (60,294) (34,481) 1,023,688 991,017 Note 12. Current assets - other 2026 2025 $ $ Prepayments 61,275 65,804 Other 6,877 133 68,152 65,937 Note 13. Non-current assets - property, plant and equipment 2026 2025 $ $ Leasehold improvements - at cost 507,376 505,776 Less: Accumulated depreciation (476,858) (473,207) 30,518 32,569 Fixtures and fittings - at cost 69,394 69,394 Less: Accumulated depreciation (67,915) (67,653) 1,479 1,741 Plant and equipment - at cost 20,208,083 20,176,426 Less: Accumulated depreciation (18,826,754) (18,511,018) 1,381,329 1,665,408 Capital works in progress 94,286 - 1,507,612 1,699,718 Total property, plant and equipment 20,879,139 20,751,597 Total accumulated depreciation (19,371,527) (19,051,879) Total net book amount 1,507,612 1,699,718
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Note 14. Non-current assets - intangible assets 2026 2025 $ $ Intangible asset – at cost 182,069 149,715 Note 15. Non-current assets – right-of-use assets 2026 2025 $ $ Land and buildings - right-of-use 3,407,991 3,407,991 Less: Accumulated amortisation (2,223,410) (1,892,830) 1,184,581 1,515,161 Note 16. Non-current assets - other 2026 2025 $ $ Rental bond 307,360 204,808 Note 17. Current liabilities - trade and other payables 2026 2025 $ $ Trade payables 813,334 942,138 Other payables 264,766 355,210 1,078,100 1,297,348 Note 18. Current liabilities - lease liabilities 2026 2025 $ $ Lease liability - current 340,813 442,561 Lease liability - non - current 1,102,566 1,300,036 1,443,379 1,742,597 Note 19. Employee benefit obligations 2026 2025 $ $Current Annual leave 287,497 306,176 Long service leave 97,779 160,387 385,276 466,563 2026 2025 $ $Non-Current Long service leave 76,159 63,102 Note 20. Non-current liabilities - Provisions 2026 2025 $ $ Make good provision 785,863 785,863 Note 21. Equity - Contributed Equity 2026 2025 (a) Share capital Number ofshares Number ofshares Fully paid ordinary shares (no par value) 5,797,326,778 5,775,571,289
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Note 22. Equity - Reserves and accumulated losses (a) Reserves 2026 2025 $ $ Foreign currency reserve (459,601) (458,855) Share-based payments reserve 9,302,098 9,131,952 8,842,497 8,673,097 b) Accumulated losses 2026 2025Movements in accumulated losses were as follows: $ $ Balance 1 July (130,811,206) (126,885,284) Net (loss) for the year (2,815,870) (3,925,922) Balance 30 June (133,627,076) (130,811,206) Note 32. Earnings per share Earnings per share for (loss) attributable to the ordinary equity holders of the Group. 2026Cents 2025Cents (a) Basic earnings per share (Loss) attributable to the ordinary equity holders of the Company (0.05) (0.08) (b) Diluted earnings per share (Loss) attributable to the ordinary equity holders of the Company (0.05) (0.08) (c) Weighted average number of shares used as the denominator Weighted average number of ordinary shares used as thedenominator in calculating basic earnings per share 5,794,598,175 4,774,041,692 Weighted average number of ordinary shares and potential ordinaryshares used as the denominator in calculating diluted earnings pershare 5,794,598,175 4,774,041,692 Options are considered to be potential ordinary shares. The options are not included in the calculation ofdiluted earnings per share because they are anti-dilutive. These options could potentially dilute basicearnings per share in the future.
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