Document And Entity Information
Document And Entity Information | 12 Months Ended |
Jun. 30, 2023 shares | |
Document Information Line Items | |
Entity Registrant Name | ALTERITY THERAPEUTICS LIMITED |
Trading Symbol | ATHE |
Document Type | 20-F |
Current Fiscal Year End Date | --06-30 |
Entity Common Stock, Shares Outstanding | 2,439,897,618 |
Amendment Flag | false |
Entity Central Index Key | 0001131343 |
Entity Current Reporting Status | Yes |
Entity Voluntary Filers | No |
Entity Filer Category | Non-accelerated Filer |
Entity Well-known Seasoned Issuer | No |
Document Period End Date | Jun. 30, 2023 |
Document Fiscal Year Focus | 2023 |
Document Fiscal Period Focus | FY |
Entity Emerging Growth Company | false |
Entity Shell Company | false |
ICFR Auditor Attestation Flag | false |
Document Registration Statement | false |
Document Annual Report | true |
Document Transition Report | false |
Document Shell Company Report | false |
Entity File Number | 000-49843 |
Entity Incorporation, State or Country Code | C3 |
Entity Address, Address Line One | Level 14, 350 Collins Street |
Entity Address, City or Town | Melbourne |
Entity Address, Postal Zip Code | 3000 |
Entity Address, Country | AU |
Title of 12(b) Security | American Depositary Shares, each representing 600 Ordinary Shares |
Security Exchange Name | NASDAQ |
Entity Interactive Data Current | Yes |
Document Financial Statement Error Correction [Flag] | false |
Document Accounting Standard | International Financial Reporting Standards |
Auditor Name | PricewaterhouseCoopers |
Auditor Location | Australia |
Auditor Firm ID | 1379 |
Business Contact | |
Document Information Line Items | |
Entity Address, Address Line One | Level 14, 350 Collins Street |
Entity Address, City or Town | Melbourne |
Entity Address, Postal Zip Code | 3000 |
Entity Address, Country | AU |
Contact Personnel Name | David Stamler |
City Area Code | 61 |
Local Phone Number | 3 9349 4906 |
Consolidated Statements of Fina
Consolidated Statements of Financial Position | Jun. 30, 2023 AUD ($) | Jun. 30, 2022 AUD ($) |
Current Assets | ||
Cash and cash equivalents | $ 15,773,783 | $ 34,806,799 |
Trade and other receivables | 8,665,704 | 4,725,361 |
Other current assets | 2,609,286 | 1,611,929 |
Total Current Assets | 27,048,773 | 41,144,089 |
Non-Current Assets | ||
Property and equipment, net of accumulated depreciation of A$181,681 and A$202,380 respectively | 61,776 | 102,551 |
Right-of-use assets net of accumulated depreciation of A$278,245 and A$312,156 respectively | 207,087 | 115,971 |
Total Non-Current Assets | 268,863 | 218,522 |
Total Assets | 27,317,636 | 41,362,611 |
Current Liabilities | ||
Trade and other payables | 3,517,708 | 5,079,587 |
Provisions | 729,202 | 656,267 |
Lease liabilities | 107,177 | 57,632 |
Current tax liabilities | 27,930 | 26,924 |
Total Current Liabilities | 4,382,017 | 5,820,410 |
Non-Current Liabilities | ||
Provisions | 19,503 | 13,753 |
Lease liabilities | 103,207 | 59,857 |
Total Non-Current Liabilities | 122,710 | 73,610 |
Total Liabilities | 4,504,727 | 5,894,020 |
Net Assets | 22,812,909 | 35,468,591 |
Equity | ||
Issued capital 2023: 2,439,897,618 fully paid ordinary shares Nil options over fully paid ordinary shares2022: 2,406,874,578 fully paid ordinary shares Nil options over fully paid ordinary shares | 213,971,323 | 213,787,061 |
Reserves | 3,972,475 | 3,565,918 |
Accumulated deficit during the development stage | (195,130,889) | (181,884,388) |
Total Equity | $ 22,812,909 | $ 35,468,591 |
Consolidated Statements of Fi_2
Consolidated Statements of Financial Position (Parentheticals) - AUD ($) | Jun. 30, 2023 | Jun. 30, 2022 |
Property and equipment,accumulated depreciation | $ 181,681 | $ 202,380 |
Right-of-use assets accumulated depreciation | $ 278,245 | $ 312,156 |
Ordinary shares (in Shares) | 2,439,897,618 | 2,406,874,578 |
Consolidated Statements of Prof
Consolidated Statements of Profit or Loss and Other Comprehensive Loss - AUD ($) | 12 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2021 | |
Profit or loss [abstract] | |||
Interest income | $ 16,436 | $ 2,504 | $ 20,676 |
Other income | 3,916,333 | 5,123,525 | 4,485,225 |
Intellectual property expenses | (285,067) | (364,665) | (360,026) |
General and administration expenses | (5,056,571) | (5,513,915) | (6,937,842) |
Research and development expenses | (13,198,583) | (14,745,776) | (12,283,848) |
Other operating expenses | (29,404) | (1,156) | (2,227) |
Other gains and losses | 917,650 | 2,722,430 | (297,111) |
Forfeited options from reserves | 17,150 | 65,800 | |
Loss before income tax expense | (13,702,056) | (12,777,053) | (15,309,353) |
Income tax expense | (104,459) | (70,008) | |
Loss for the year | (13,806,515) | (12,847,061) | (15,309,353) |
Other comprehensive loss | |||
Total comprehensive loss for the year | $ (13,806,515) | $ (12,847,061) | $ (15,309,353) |
Loss per share (Basic - cents per share) (in Dollars per share) | $ (0.57) | $ (0.53) | $ (0.9) |
Weighted average number of ordinary shares used in computing basic net loss per share (in Shares) | 2,427,841,917 | 2,405,990,036 | 1,696,876,324 |
Consolidated Statements of Pr_2
Consolidated Statements of Profit or Loss and Other Comprehensive Loss (Parentheticals) - $ / shares | 12 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2021 | |
Profit or loss [abstract] | |||
Loss per share (Diluted - cents per share) (in Dollars per share) | $ (0.57) | $ (0.53) | $ (0.90) |
Weighted average number of ordinary shares used in computing diluted net loss per share (in shares) | 2,427,841,917 | 2,405,990,036 | 1,696,876,324 |
Consolidated Cash Flow Statemen
Consolidated Cash Flow Statements - AUD ($) | 12 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2021 | |
Cash Flows from Operating Activities | |||
Payments to suppliers and employees | $ (19,943,617) | $ (16,875,144) | $ (17,720,622) |
Interest received | 15,798 | 2,755 | 20,491 |
R&D tax refund | 4,126,364 | ||
Interest paid | (4,565) | (2,285) | (1,299) |
Other grant received | 454,120 | 213,235 | |
COVID-19 government relief | 158,126 | ||
Income tax paid | (103,453) | (43,084) | |
Net cash flows used in operating activities | (20,035,837) | (12,337,274) | (17,330,069) |
Cash Flows from Investing Activities | |||
Payments for rental security deposits | (29,150) | ||
Payments for purchase of plant and equipment | (7,311) | (89,147) | (10,472) |
Net cash flows used in investing activities | (36,461) | (89,147) | (10,472) |
Cash Flows from Financing Activities | |||
Proceeds from issue of securities and other equity securities | 316,675 | 17,176,040 | 39,236,886 |
Payment of share issue costs | (132,413) | (836,969) | (2,492,650) |
Principal elements of lease payments | (59,922) | (34,513) | (58,289) |
Net cash flows generated from financing activities | 124,340 | 16,304,558 | 36,685,947 |
Net (decrease)/increase in cash and cash equivalents | (19,947,958) | 3,878,137 | 19,345,406 |
Opening cash and cash equivalents brought forward | 34,806,799 | 28,115,516 | 9,196,892 |
Exchange rate adjustments on cash and cash equivalents held in foreign currencies | 914,942 | 2,813,146 | (426,782) |
Closing cash and cash equivalents carried forward | $ 15,773,783 | $ 34,806,799 | $ 28,115,516 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity - AUD ($) | Issued Capital | Reserves | Accumulated Deficit During Development Stage | Total |
Balance at Jun. 30, 2020 | $ 160,703,754 | $ 866,121 | $ (154,419,061) | $ 7,150,814 |
Balance (in Shares) at Jun. 30, 2020 | 1,037,358,032 | |||
Transactions with owners in their capacity as owners: | ||||
Issuance of shares | $ 39,236,886 | 39,236,886 | ||
Issuance of shares (in Shares) | 1,046,658,646 | |||
Non-cash issuance of options to directors and employees | 1,950,563 | 1,950,563 | ||
Non-cash issuance of options to consultants | ||||
Issuance of shares in connection with exercise of options, net of costs | ||||
Transaction costs from issuance of shares | (2,492,650) | (2,492,650) | ||
Forfeited options reversed to profit or loss | (65,800) | (65,800) | ||
Total transactions with owners in their capacity as owners | $ 36,744,236 | 1,884,763 | 38,628,999 | |
Total transactions with owners in their capacity as owners (in Shares) | 1,046,658,646 | |||
Net loss | (15,309,353) | (15,309,353) | ||
Total comprehensive loss for the year | (15,309,353) | (15,309,353) | ||
Balance at Jun. 30, 2021 | $ 197,447,990 | 2,750,884 | (169,728,414) | 30,470,460 |
Balance (in Shares) at Jun. 30, 2021 | 2,084,016,678 | |||
Transactions with owners in their capacity as owners: | ||||
Issuance of shares | $ 17,176,040 | 17,176,040 | ||
Issuance of shares (in Shares) | 322,857,900 | |||
Non-cash issuance of options to directors and employees | 1,179,577 | 1,179,577 | ||
Non-cash issuance of options to consultants | 326,544 | 326,544 | ||
Transaction costs from issuance of shares | (836,969) | (836,969) | ||
Expired options | (240,310) | 240,310 | ||
Forfeited options of vested options reversed to accumulated deficit | (450,777) | 450,777 | ||
Total transactions with owners in their capacity as owners | $ 16,339,071 | 815,034 | 691,087 | 17,845,192 |
Total transactions with owners in their capacity as owners (in Shares) | 322,857,900 | |||
Net loss | (12,847,061) | (12,847,061) | ||
Total comprehensive loss for the year | (12,847,061) | (12,847,061) | ||
Balance at Jun. 30, 2022 | $ 213,787,061 | 3,565,918 | (181,884,388) | $ 35,468,591 |
Balance (in Shares) at Jun. 30, 2022 | 2,406,874,578 | 2,406,874,578 | ||
Transactions with owners in their capacity as owners: | ||||
Issuance of shares | $ 316,675 | $ 316,675 | ||
Issuance of shares (in Shares) | 33,023,040 | |||
Non-cash issuance of options to directors and employees | 983,721 | 983,721 | ||
Non-cash issuance of options to consultants | ||||
Issuance of shares in connection with exercise of options, net of costs | ||||
Transaction costs from issuance of shares | (132,413) | (132,413) | ||
Expired options | (560,014) | 560,014 | ||
Forfeited options reversed to profit or loss | (17,150) | (17,150) | ||
Total transactions with owners in their capacity as owners | $ 184,262 | 406,557 | 560,014 | 1,150,833 |
Total transactions with owners in their capacity as owners (in Shares) | 33,023,040 | |||
Net loss | (13,806,515) | (13,806,515) | ||
Total comprehensive loss for the year | (13,806,515) | (13,806,515) | ||
Balance at Jun. 30, 2023 | $ 213,971,323 | $ 3,972,475 | $ (195,130,889) | $ 22,812,909 |
Balance (in Shares) at Jun. 30, 2023 | 2,439,897,618 | 2,439,897,618 |
Background and Summary of Signi
Background and Summary of Significant Accounting Policies | 12 Months Ended |
Jun. 30, 2023 | |
Background and Summary of Significant Accounting Policies [Abstract] | |
BACKGROUND AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 1. BACKGROUND AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Background Alterity Therapeutics Limited and its controlled subsidiaries, Alterity Therapeutics Inc. and Alterity Therapeutics UK Limited (referred to collectively as “Alterity” or the “Group”), is a development stage enterprise engaged in the research and development of therapeutic drugs designed to treat the underlying cause of degeneration of the brain focusing on Alzheimer’s disease, Huntington disease, Parkinson’s disease and other neurological disorders. Alterity Therapeutics Limited, the parent entity, was incorporated on November 11, 1997 in Melbourne, Australia and the UK and U.S. subsidiaries were incorporated in August 2004. Financial Reporting Framework The financial report of Alterity Therapeutics Limited for the year ended June 30, 2023 was authorized for issue on August 31, 2023. Alterity Therapeutics Limited is a for-profit entity for the purpose of preparing the financial statements. The consolidated financial statements of the Group comply with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (IASB) and Australian equivalent International Financial Reporting Standards, as issued by the Australian Accounting Standards Board. These financial statements have been prepared under the historical cost convention, as modified by the revaluation of financial liabilities at fair value through profit or loss. Accounting policies are selected and applied in a manner which ensures that the resulting financial information satisfies the concepts of relevance and reliability, thereby ensuring that the substance of the underlying transactions or other events is reported. The accounting policies set out below have been applied in preparing the financial statements for the year ended June 30, 2023 and the comparative information presented in these financial statements for the years ended June 30, 2022 and 2021. Critical accounting estimates, judgments and assumptions Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that may have a financial impact on the entity and that are believed to be reasonable under the circumstances. The Group makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below. Share-based Payments The value attributed to share options and remuneration shares issued is an estimate calculated using an appropriate mathematical formula based on an option pricing model. The choice of models and the resultant option value require assumptions to be made in relation to the likelihood and timing of the conversion of the options to shares and the value and volatility of the price of the underlying shares. R&D Tax Incentives The Australian Government replaced the research and development tax concession with the research and development tax incentive from July 1, 2011. The provisions provide refundable or non-refundable tax offsets. The research and development tax incentive applies to expenditure incurred and the use of depreciating assets in an income year commencing on or after July 1, 2011. A 43.5% refundable tax offset will be available to eligible small companies with an annual aggregate turnover of less than $20 million. Management has assessed these activities and expenditure to determine which are likely to be eligible under the incentive scheme. For the period to June 30, 2023 the Group has recorded an item in other income of A$3.9 million (2022: A$4.7 million, 2021: A$4.1 million) to recognize this amount which relates to this period. Going Concern Basis The Group is a development stage medical biotechnology company and as such expects to be utilizing sources of cash funding until its research activities have become marketable. The Group has incurred recurring losses since inception including an operating loss of $13,806,515 in the year ended 30 June 2023 (2022: $12,847,061) and an operating cash outflow of $20,035,837 in the year ended 30 June 2023 (2022: $12,337,274). The Group expects to continue incurring losses into the foreseeable future and will need to raise additional capital to continue the development of its planned research and development programs. The continuing viability of the Group is subject to its ability to raise additional capital to finance the continuation of its planned research and development programs, maintaining implemented cost containment and deferment strategies, and successfully commercializing its initiatives. The Group intends to raise new equity funding within six months of the financial year end to enable progression of its planned research and development programs, however there is uncertainty associated with its ability to successfully raise such funds in the time and amounts needed to meet its requirements. The inability to obtain funding, as and when needed, would have a negative impact on the Group’s financial condition and ability to pursue its business strategies. If the Group is unable to obtain the required funding to operate and to develop and commercialize its product candidates, it could be forced to delay, reduce or eliminate some or all of its research and development programs, which would adversely affect its business prospects. As a result, there is a material uncertainty that may cast significant doubt (or raises substantial doubt as contemplated by Public Company Accounting Oversight Board (“PCAOB”) standards) on the Group’s ability to continue as a going concern and that it may be unable to realize its assets and liabilities in the normal course of business. However, the directors believe that it will be successful in the above matters and accordingly have prepared the financial report on a going concern basis. Use of Estimates The preparation of these consolidated financial statements requires the Group to make estimates and judgments that affect the reported amounts of assets, liabilities, income and expenses and related disclosures. On an ongoing basis, the Group evaluates its significant accounting policies and estimates. Estimates are based on historical experience and on various market-specific and other relevant assumptions that the Group believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Estimates are assessed each period and updated to reflect current information. Development Stage – Risks and Uncertainties As a development stage enterprise, the Group’s prospects are subject to the risks, expenses and uncertainties frequently encountered by companies which have not yet commercialized any applications of their technology, particularly in new and evolving markets. Alterity’s operating results may fluctuate significantly in the future as a result of a variety of factors, including capital expenditure and other costs relating to establishing, maintaining and expanding the operations, the number and mix of potential customers, potential pricing of future products by the Group and its competitors, new technology introduced by the Group and its competitors, delays or expense in obtaining necessary equipment, economic and social conditions in the biotechnology industry and general economic conditions. The Group cannot be certain that it will be able to raise any required funding or capital, on favorable terms or at all, or that it will be able to establish corporate collaborations on acceptable terms, if at all. If the Group is unable to obtain such additional funding or capital, it may be required to reduce the scope of its development plans. The Group’s experience in exploiting its technology is limited and it cannot be certain that its operations will be profitable in the short-term, or at all. If the Group fails in its efforts to establish or expand its business, the results of operations, financial condition and liquidity of the Group could be materially adversely affected. The Group cannot be certain that it will be able to sell and deliver its technology or to obtain or retain any permits required in the market in which it operates. Any of these factors could result in the reduction or cessation of the Group’s operations. Significant Accounting Policies Accounting policies are selected and applied in a manner which ensures that the resulting financial information satisfies the concepts of relevance and reliability, thereby ensuring that the substance of the underlying transactions or other events is reported. The following significant accounting policies have been adopted in the preparation and presentation of the financial report. (a) Principles of Consolidation The consolidated financial statements are prepared by combining the financial statements of all the entities that comprise the Group, being Alterity Therapeutics Limited and its subsidiaries as defined in Accounting Standard IFRS10: Consolidated Financial Statements Subsidiaries are all those entities (including special purpose entities) over which the Group has control. The group controls an entity where the group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power to direct the activities of the entity. The existence and effect of potential voting rights that are currently exercisable or convertible are considered when assessing whether the Group controls another entity. Subsidiaries are fully consolidated from the date on which control is transferred to the Group. They are de-consolidated from the date that control ceases. In preparing the consolidated financial statements, all inter-company balances and transactions, and unrealized profits/losses arising within the Group are eliminated in full. Investments in subsidiaries are accounted for at cost in the individual financial statements of Alterity Therapeutics Limited. (b) Segment Reporting Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision maker. The chief operating decision maker, who is responsible for allocating resources and assessing performance of the operating segments, has been identified as the Chief Executive Officer of Alterity Therapeutics Limited. For the current and previous reporting periods, the Group operated in one segment, being research and development into Parkinsonian and other neurodegenerative disorders. (c) Income Tax Current tax Current tax is calculated by reference to the amount of income taxes payable or recoverable in respect of the taxable profit or loss for the period. It is calculated using tax rates and tax laws that have been enacted or substantively enacted by reporting date. Current tax for current and prior periods is recognised as a liability (or asset) to the extent that it is unpaid (or refundable). Deferred tax Deferred tax is accounted for using the liability method in respect of temporary differences arising from differences between the carrying amount of assets and liabilities in the financial statements and the corresponding tax base of those items. In principle, deferred tax assets and liabilities are recognised for all taxable temporary differences. Deferred tax assets are recognised to the extent that it is probable that sufficient taxable amounts will be available against which deductible temporary differences or unused tax losses and tax offsets can be utilized. However, deferred tax assets and liabilities are not recognised if the temporary differences giving rise to them arise from the initial recognition of assets and liabilities (other than as a result of a business combination) which affects neither taxable income nor accounting profit or loss. Deferred tax liabilities are recognised for taxable temporary differences arising on investments in subsidiaries except where the Group is able to control the reversal of the temporary differences and it is probable that the temporary differences will not reverse in the foreseeable future. Deferred tax assets arising from deductible temporary differences associated with these investments are only recognised to the extent that it is probable that there will be sufficient taxable profits against which to utilize the benefits of the temporary differences and they are expected to reverse in the foreseeable future. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the period(s) when the asset and liability giving rise to them are realized or settled, based on tax rates (and tax laws) that have been enacted or substantively enacted by reporting date. The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the manner in which the Group expects, at the reporting date, to recover or settle the carrying amount of its assets and liabilities. Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets and liabilities and when the deferred tax balances relate to the same taxation authority. Current tax assets and tax liabilities are offset when the entity has a legally enforceable right to offset and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. Current and deferred tax for the period Current and deferred tax is recognised as an expense or income in the Statement of Profit or Loss and Other Comprehensive Income, except when it relates to items credited or debited directly to equity, in which case the deferred tax is also recognised directly in equity, or where it arises from the initial accounting for a business combination, in which case it is taken into account in the determination of goodwill. The Group has significant unused tax losses and as such a significant deferred tax asset; however, the deferred tax asset has not been recognised, as it is not probable that future taxable profit will be available against which the unused losses and unused tax credits can be utilized, given the nature of the Group’s business (research and development) and its history of losses. (d) Property and Equipment Property and equipment is measured at historical cost less accumulated depreciation and impairment and consists of laboratory equipment, computer equipment, furniture and fittings and leasehold improvements attributable to the Group’s premises at Melbourne, Victoria, Australia and San Francisco, USA. Historical cost includes expenditure that is directly attributable to the acquisition of the item. Subsequent costs are included in the asset’s carrying amount or recognised as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably. The carrying amount of any component accounted for as a separate asset is derecognised when replaced. All other repairs and maintenance are charged to the income statement during the reporting period in which they are incurred. Depreciation Depreciation is provided on property and equipment. Depreciation is calculated on a straight-line method to allocate their cost, net of their residual values, over their estimated useful lives. The following estimated useful lives, ranging from 3 to 20 years are used in the calculation of depreciation: Class of Fixed Asset Depreciation Rate Furniture and fittings 5-33% Computer equipment 33% Plant and equipment 10-33% Leasehold improvements 33% Leasehold improvements are depreciated over the shorter of the lease term and useful life. The depreciation method, residual values and useful lives are reviewed, and adjusted if appropriate, at each annual reporting period. (e) Leases The accounting policies for the Group’s lease recognition are explained in note 13. (f) Investments and other financial assets Classification From July 1, 2019, the Group classifies its financial assets in the following measurement categories: ● those to be measured subsequently at fair value (either through OCI or through profit or loss), and ● those to be measured at amortized cost. The classification depends on the entity’s business model for managing the financial assets and the contractual terms of the cash flow. For assets measured at fair value, gains and losses will either be recorded in profit or loss or OCI. For investments in equity instruments that are not held for trading, this will depend on whether the Group has made an irrevocable election at the time of initial recognition to account for the equity investment at fair value through other comprehensive income (FVOCI). Recognition and derecognition Regular way purchases and sales of financial assets are recognised on trade-date, the date on which the Group commits to purchase or sell the asset. Financial assets are derecognised when the rights to receive cash flows from the financial assets have expired or have been transferred and the Group has transferred substantially all the risks and rewards of ownership. Measurement At initial recognition, the Group measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss (FVPL), transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at FVPL are expensed in profit or loss. Assets that are held for collection of contractual cash flows where those cash flows represent solely payments of principal and interest are measured at amortised cost. Interest income from these financial assets is included in finance income using the effective interest rate method. Any gain or loss arising on derecognition is recognised directly in profit or loss and presented in other gains/(losses) together with foreign exchange gains and losses. Impairment losses are presented as separate line item in the consolidated statement of profit or loss. Equity instruments The Group subsequently measures all equity investments at fair value. Where the Group’s management has elected to present fair value gains and losses on equity investments in OCI, there is no subsequent reclassification of fair value gains and losses to profit or loss following the derecognition of the investment. Dividends from such investments continue to be recognised in profit or loss as other income when the Group’s right to receive payments is established. Impairment From July 1, 2019, the Group assesses on a forward looking basis the expected credit losses associated with its debt instruments carried at amortized cost and FVOCI. The impairment methodology applied depends on whether there has been a significant increase in credit risk. For trade receivables, the Group applies the simplified approach permitted by IFRS 9, which requires expected lifetime losses to be recognised from initial recognition of the receivables, see note 5 for further details. (g) Impairment of Assets At each reporting date, the Group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have been impaired. If any such indication exists, the recoverable amount of the asset is estimated to determine the extent of the impairment loss (if any). Where the asset does not generate cash flows that are independent from other assets, the Group estimates the recoverable amount of the cash-generating unit to which the asset belongs. Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised in the consolidated statement of profit or loss and other comprehensive income immediately. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is reversed to the revised estimate of its recoverable amount, but only to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised in the consolidated statement of profit or loss and other comprehensive income immediately. No impairment charges were incurred during the three years ended June 30, 2023, 2022 and 2021. (h) Intangible Assets - Research and Development Expenditure during the research phase of a project is recognised as an expense when incurred. Where no internally generated intangible assets can be recognised, development expenditure is recognised as an expense in the period as incurred. Development costs are capitalised if and only if, all of the following are demonstrated: ● the technical feasibility of completing the intangible asset so that it will be available for use or sale; ● the intention to complete the intangible asset and use or sell it; ● the ability to use or sell the intangible asset; ● how the intangible asset will generate probable future economic benefits; ● the availability of adequate technical, financial and other resources to complete the development and to use or sell the intangible asset; and ● the ability to measure reliably the expenditure attributable to the intangible asset during its development. Internally-generated intangible assets (capitalised development costs) are stated at cost less accumulated amortisation and impairment, and are amortised on a straight-line basis over their useful lives over a maximum of five years. As of June 30, 2023, 2022 and 2021, the Group had no capitalized research and development costs. (i) Foreign Currency Transactions and Balances Functional and Presentation Currency Items included in the financial statements of each of the Group’s entities are measured using Australian dollars, which is the currency of the primary economic environment in which the Group operates (the functional currency). The consolidated financial statements are presented in Australian dollars ($), which is Alterity Therapeutics Limited’s functional and presentation currency. Foreign currency transactions All foreign currency transactions during the financial year are brought to account using the exchange rate in effect at the date of the transaction. Foreign currency monetary items at each reporting date are translated at the exchange rate existing at each reporting date. Non-monetary assets and liabilities carried at fair value that are denominated in foreign currencies are translated at the rates prevailing at the date when the fair value was determined. Exchange differences are recognised in profit or loss in the period in which they arise except for exchange differences on monetary items receivable from or payable to a foreign operation for which settlement is neither planned or likely to occur, which form part of the net investment in a foreign operation, are recognised in the foreign currency translation reserve and recognised in profit or loss on disposal of the net investment. Subsidiaries The results and financial position of all the Group’s entities that have a functional currency difference from the presentation currency are translated into the presentation currency as follows: ● assets and liabilities for each balance sheet presented are translated at the closing rate at the date of that balance sheet, and ● income and expenses for each income statement are translated at average exchange rates (unless this is not a reasonable approximation of the cumulative effect of the rates prevailing on the transaction dates, in which case income and expenses are translated at the dates of the transactions), and ● all resulting exchange differences are recognised as a separate component of equity. On consolidation, the assets and liabilities of the Group’s overseas operations are translated at exchange rates prevailing at the reporting date. Income and expense items are translated at the average exchange rates for the period unless exchange rates fluctuate significantly. Exchange differences arising, if any, are recognised in the foreign currency translation reserve, and recognised in profit or loss on disposal of the foreign operations. (j) Employee Benefits Short-term obligations Short-term employee benefits are benefits (other than termination benefits) that are expected to be settled wholly before 12 months after the end of the annual reporting period in which the employees render the related service, including wages, and salaries. Short-term employee benefits are measured at the (undiscounted) amounts expected to be paid when the obligation is settled. The Group’s obligations for short-term employee benefits such as wages and salaries are recognised as a part of current trade and other payables in the statement of financial position. The Group’s obligations for annual leave are presented as part of provisions in the Statement of Financial Position. The obligations are presented as current liabilities in the Statement of Financial Position if the Group does not have an unconditional right to defer settlement for at least twelve months after the reporting period regardless of when the actual settlement is expected to occur. Other long-term obligations The liability for long service leave is not expected to be settled wholly within twelve months after the end of the period in which the employees render the related service. The liability is therefore recognised in the provision for employee benefits and measured as the present value of expected future payments to be made in respect of services provided by employees up to the end of the reporting period using the projected unit credit method. Consideration is given to expected future wage and salary levels, experience of employee departures and periods of service. Expected future payments are discounted using market yields at the end of the reporting period of high quality corporate bonds with terms and currencies that match, as closely as possible, the estimated future cash outflows. Re-measurements as a result of experience adjustments and changes in actuarial assumptions are recognised in profit or loss. The obligations are presented as current liabilities in the balance sheet if the entity does not have an unconditional right to defer settlement for at least twelve months after the reporting period, regardless of when the actual settlement is expected to occur. (k) Provisions Provisions are recognised when the Group has a present obligation, the future sacrifice of economic benefits is probable, and the amount of the provision can be measured reliably. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at reporting date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows. When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, the receivable is recognised as an asset if it is virtually certain that recovery will be received and the amount of the receivable can be measured reliably. (l) Cash and Cash Equivalents Cash and cash equivalents include cash on hand, deposits held at call with banks and other short-term highly liquid investments with original maturities of three months or less. (m) Interest income Other income is made up of interest income which is recognised on a time proportion basis using the effective interest method. (n) Grants Grants are recognised when there is reasonable assurance that the grant will be received and all grant conditions will be complied with. When the grant relates to an expense item, it is recognised as income over the periods necessary to match the grant on a systematic basis to the costs that it is expected to compensate. (o) Goods and Services Tax (“GST”) Revenues, expenses and assets are recognised net of the amount of GST, except where the amount of GST incurred is not recoverable from the taxation authority. In these circumstances the GST is recognised as part of the cost of acquisition of the asset or as part of an item of expense. Receivables and payables in the Balance Sheet are shown inclusive of GST. The net amount of GST recoverable from, or payable to, the taxation authority is included as part of receivables or payables. Cash flows are included in the Cash Flow Statement on a gross basis. The GST component of cash flows arising from investing and financing activities which is recoverable from, or payable to, the taxation authority is classified as operating cash flows. (p) Trade and Other Payables These amounts represent liabilities for goods and services provided to the Group prior to the end of financial year which are unpaid. The amounts are unsecured and are usually paid within 30 days of recognition. Trade and other payables are presented as current liabilities unless payment is not due within 12 months from the reporting date. They are recognised initially at their fair value and subsequently measured at amortized cost using the effective interest method. (q) Share-Based Payments The measurement date is determined for share-based payments issued to directors, employees and consultants as follows: Directors The issuance of share-based payments to directors is subject to approval by shareholders as per ASX Listing Rule 10.11. The measurement date for share-based payments issued to directors is the grant date, being the date at which the share-based payments are approved by shareholders. Employees The issuance of share-based payments to employees may be subject to shareholder approval per ASX Listing Rule 7.1 which prohibits the issuance of more than 15% of the Group’s shares in a 12 month period without shareholder approval. The measurement date for share-based payments issued to employees is the grant date, being the date at which a shared understanding of the terms and conditions of the arrangement is reached. However, if an issuance to an employee is subject to shareholder approval because it exceeds the 15% threshold per ASX Listing Rule 7.1, then the measurement date of these share-based payments is the date at which the share-based payments are approved by shareholders. Consultants The issuance of share-based payments to consultants may be subject to shareholder approval per ASX Listing Rule 7.1 which prohibits the issuance of more than 15% of the Group’s shares in a 12 month period without shareholder approval. The measurement date for share-based payments issued to consultants who provide services considered to be similar to employees is deemed to be the date at which a shared understanding of the terms and conditions of the arrangement is reached. The measurement date for share-based payments issued to consultants who provide services considered to be differentiated from those provided by employees is deemed to be the date at which the entity obtains the goods or the counterparty renders the service. If a service period applies and the work is continually provided over the service period, and if the share price of the Group does not change significantly during the service period, then the average share price, volatility and risk-free rate over the service period are used in calculating the value of the share-based payments issued. However, if the underlying share price of the Group does change significantly during the service period, then the value of share-based payments are calculated at each individual date that goods and services are provided, using the actual valuation inputs at that date. Shares issued to consultants for services are recorded as non-cash compensation and are recognised at either the fair value of the services rendered, or if this cannot be reasonably estimated, the |
Interest and Other Income from
Interest and Other Income from Continuing Operations | 12 Months Ended |
Jun. 30, 2023 | |
Interest and Other Income from Continuing Operations [Abstract] | |
INTEREST AND OTHER INCOME FROM CONTINUING OPERATIONS | 2. INTEREST AND OTHER INCOME FROM CONTINUING OPERATIONS Years Ended June 30, 2023 2022 2021 Interest income Interest income 16,436 2,504 20,676 Total interest income 16,436 2,504 20,676 Other income R&D Tax Incentive (1) 3,914,230 4,669,405 4,126,364 COVID-19 relief (2) - - 145,626 Other grant (3) - 454,120 213,235 Miscellaneous Income 2,103 - - Total other income 3,916,333 5,123,525 4,485,225 Total interest and other income from continuing operations 3,932,769 5,126,029 4,505,901 (1) A 43.5% R&D Tax incentive refundable tax offset, will be available to eligible small companies with an annual aggregate turnover of less than $20 million. For the years ended June 30, 2023, June 30, 2022 and June 30, 2021, the Group is eligible to receive the refundable tax offset, the management with input from an independent expert, has applied judgement when assessing activities and expenditures that are likely to be eligible under the incentive scheme and therefore recorded $3,914,230, $4,669,405 and $4,126,364 in other income, respectively. (2) The COVID-19 relief relates to government assistance received during the year, from the Australian Governments (at both federal and state level), in response to the economic and financial challenges in the current economy. This COVID-19 relief consists of the eligible cash flow boost grants and state level payroll tax refund and waivers. The Group has recognised this relief as part of government grants in line with IAS 20. (3) Other grant relates to the receipt of grant funding awarded by Michael J. Fox Foundation for Parkinson’s Research during the year ended June 30, 2022 and June 30, 2021. |
Expenses from Ordinary Activiti
Expenses from Ordinary Activities | 12 Months Ended |
Jun. 30, 2023 | |
Expenses from Ordinary Activities [Abstract] | |
EXPENSES FROM ORDINARY ACTIVITIES | 3. EXPENSES FROM ORDINARY ACTIVITIES Years Ended June 30, 2023 2022 2021 Research and Development Expenses (1) Employee expenses 2,720,345 2,517,516 2,169,420 Other research and development expenses 10,478,238 12,228,260 10,114,428 General and Administration Expenses Depreciation on fixed assets 37,854 17,848 18,662 Depreciation on leased assets 64,409 36,366 56,707 Employee expenses (non R&D related) 926,314 705,541 1,556,078 Consultant and director expenses 320,500 390,896 852,369 Audit, internal control and other assurance expenses 238,728 220,798 220,198 Corporate compliance expenses 457,215 401,741 692,895 Insurance expenses 721,732 655,990 531,877 Office rental 68,634 79,329 87,612 Other administrative and office expenses 1,032,843 911,347 718,520 Share based payment expenses 966,571 1,506,122 1,950,563 Corporate advisory expenses 204,621 587,937 252,361 Other gains and losses Foreign exchange (gain)/loss (917,650 ) (2,722,430 ) 297,111 (1) Research and development expenses mainly consist of expenses paid for contracted research and development activities conducted by third parties on behalf of the Group. |
Income Tax
Income Tax | 12 Months Ended |
Jun. 30, 2023 | |
Income Tax [Abstract] | |
INCOME TAX | 4. INCOME TAX Years Ended June 30, 2023 2022 2021 (a) Income tax expense: Current tax 33,808 50,072 - Adjustment for current tax of prior periods 70,651 19,936 - Deferred tax - - - (b) Numerical reconciliation of income tax expense to prima facie tax payable: Prima facie tax on net loss before income tax at 25% (2022: 25%, 2021: 26%) (3,446,718 ) (3,194,263 ) (3,980,432 ) Effect of lower tax rates of tax on overseas income (6,440 ) (9,712 ) (11,344 ) Add tax effect of: Under/(Over) provision of income tax in previous year relating to a revision of estimates 70,651 19,936 - Research and development expenditure (net of tax incentive) 1,267,940 1,516,215 1,393,478 Research and development tax offset (1) - - (2,976,920 ) Adjustments for current tax of prior periods (1) - - 1,764,370 Other 413,976 529,075 628,535 Deferred tax asset not recognised 1,805,050 1,208,757 3,182,313 Income tax expense attributable to loss before income tax 104,459 70,008 - (c) Potential deferred tax asset as of June 30, 2023, 2022 and 2021 in respect of: tax losses not brought to account is (1)(2): 44,056,899 41,204,149 41,223,341 Temporary differences 3,675,742 2,903,797 4,549,151 (1) As of June 30, 2023, the Group had a potential tax benefit related to gross tax losses carried forward of $164,311,376 (2022: $153,026,530) and a non-refundable R&D tax offset of $2,976,920 (2022: $2,976,920). The non-refundable tax offset and the adjustment for current tax of prior periods in 2021 relates to the 2020 R&D tax incentive claim which was submitted in 2021. (2) Unused tax loss amounts are only attributable to the Group’s operations in Australia, as the subsidiary in the United States has no carryforward tax losses as of June 30, 2023. Tax losses can be carried forward indefinitely subject to continuity of ownership and same business test rules. |
Trade and Other Receivables
Trade and Other Receivables | 12 Months Ended |
Jun. 30, 2023 | |
Trade and Other Receivables [Abstract] | |
TRADE AND OTHER RECEIVABLES | 5. TRADE AND OTHER RECEIVABLES Years Ended June 30, 2023 2022 Accrued interest income 656 18 R&D tax incentive receivable (1) 8,583,635 4,669,405 Goods and services tax receivable 16,184 55,938 Accounts receivable 65,229 - Total Trade and Other Receivables 8,665,704 4,725,361 R&D tax incentive receivable represents the amount of the financial years 2023 and 2022 R&D tax incentive the Group expects to recover. For further details, see note 2. (1) Subsequent to the end of the period, on 15 August 2023 $4,725,361, representing the R&D tax incentive for the 2022 year was received. |
Other Current Assets
Other Current Assets | 12 Months Ended |
Jun. 30, 2023 | |
Other Current Assets [Abstract] | |
OTHER CURRENT ASSETS | 6. OTHER CURRENT ASSETS Years Ended June 30, 2023 2022 Prepayments 2,569,522 1,601,697 Other 39,764 10,232 Total 2,609,286 1,611,929 |
Trade and Other Payables
Trade and Other Payables | 12 Months Ended |
Jun. 30, 2023 | |
Trade and Other Payables [Abstract] | |
TRADE AND OTHER PAYABLES | 7. TRADE AND OTHER PAYABLES Years Ended June 30, 2023 2022 Trade creditors 1,716,135 2,689,098 Accrued research and development expenses 1,458,310 2,066,500 Accrued professional fees 222,126 185,362 Other accrued expenses 87,223 107,929 Other payables 33,914 57,622 Total 3,517,708 5,106,511 |
Provisions
Provisions | 12 Months Ended |
Jun. 30, 2023 | |
Provisions [Abstract] | |
PROVISIONS | 8. PROVISIONS Years Ended June 30, 2023 2022 Current Annual leave (1) 420,380 371,877 Long service leave (1)(2) 308,822 284,390 Total 729,202 656,267 Non-Current Long service leave (2) 19,503 13,753 A provision has been recognised for employee entitlements relating to long service leave. In calculating the present value of future cash flows in respect of long service leave, the probability of long service leave being taken is based on historical data. The measurement and recognition criteria relating to employee benefits have been included in Note 1 to this report. (1) Movements in provisions Movements in each class of provision during the financial year are set out below: Years Ended June 30, 2023 2022 2021 Annual leave Carrying amount at start of year 371,877 273,876 285,360 Charged/(credited) to profit or loss -additional provisions recognised 272,502 242,532 231,981 Amounts used during the year (232,747 ) (158,968 ) (231,061 ) Change in foreign exchange 8,748 14,437 (12,404 ) Carrying amount at end of year 420,380 371,877 273,876 Long service leave Carrying amount at start of year 298,143 273,260 368,193 Charged/(credited) to profit or loss -additional provisions recognised 30,182 25,210 31,725 Amounts used during the year - (327 ) (126,658 ) Carrying amount at end of year 328,325 298,143 273,260 TOTAL 748,705 670,020 547,136 (2) Amounts not expected to be settled within the next 12 months The current provision for long service leave includes all unconditional entitlements where employees have completed the required period of service and also those where employees are entitled to pro-rata payments in certain circumstances. The entire amount is presented as current, since the Group does not have an unconditional right to defer settlement. However, based on past experience, the Group does not expect all employees to take the full amount of accrued long service leave or require payment within the next 12 months. The following amounts reflect leave that is not expected to be taken or paid within the next 12 months. Years Ended June 30, 2023 2022 Long service leave obligation expected to be settled after 12 months 19,503 13,753 |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Jun. 30, 2023 | |
Commitments and Contingencies [Abstract] | |
COMMITMENTS AND CONTINGENCIES | 9. COMMITMENTS AND CONTINGENCIES R&D Tax Incentive In the year ended June 30, 2020, the Group was unsuccessful in obtaining a Commissioner’s Discretion pursuant to subsection 328-126(6) of the Income Tax Assessment Act 1997 There are no contingent liabilities at the date of this report. The Group is not involved in any legal or arbitration proceedings and, so far as management is aware, no such proceedings are pending or threatened against the Group. In respect of expenditure commitments, refer to Note 15. |
Issued Capital
Issued Capital | 12 Months Ended |
Jun. 30, 2023 | |
Issued Capital [Abstract] | |
ISSUED CAPITAL | 10. ISSUED CAPITAL Years Ended June 30, Notes 2023 2022 2021 (a) Issued Capital 2,439,897,618 (2022: 2,406,874,578) fully paid ordinary shares 10(b) 213,971,323 213,787,061 197,447,990 Nil (2022: Nil) options for fully paid ordinary shares 10(c) - - - 213,971,323 213,787,061 197,447,990 (b) Movements in Issued Shares June 30, 2023 2022 2021 No. of shares A$ No. of shares A$ No. of shares A$ Beginning of the year 2,406,874,578 213,787,061 2,084,016,678 197,447,990 1,037,358,032 160,703,754 Movement during the year 33,023,040 184,262 322,857,900 16,339,071 1,046,658,646 36,744,236 End of the year 2,439,897,618 213,971,323 2,406,874,578 213,787,061 2,084,016,678 197,447,990 Details of share issuances are as follows: Date Details Notes Number Issue Price $ Year end June 30, 2020 176,520,600 4,071,118 July 2, 2020 Issue of shares under ATM Facility 47,646,000 0.033 1,562,055 October 23, 2020 Issue of shares to sophisticated and professional investors 271,251,007 0.037 10,036,287 November 24, 2020 Issue of shares to sophisticated and professional investors 674,694,939 0.037 24,963,713 February 11, 2021 Issue of shares under ATM Facility 53,066,700 0.050 2,674,831 June 30, 2021 Security issuance costs (2,492,650 ) Year end June 30, 2021 1,046,658,646 36,744,236 July 2, 2021 Issue of shares under ATM Facility 322,857,900 0.053 17,176,040 June 30, 2022 Security issuance costs (836,969 ) Year end June 30, 2022 322,857,900 16,339,071 September 21, 2022 Issue of shares under ATM Facility 9,543,840 0.0135 128,842 March 15, 2023 Issue of shares under ATM Facility 23,479,200 0.0080 187,834 June 30, 2023 Security issuance costs (132,413 ) Year end June 30, 2023 33,023,040 184,262 (c) Terms and Conditions of Issued Capital Ordinary shares Ordinary shares have the right to receive dividends as declared and, in the event of a winding up of the Group, to participate in the proceeds from the sale of all surplus assets in proportion to the number of and amounts paid up on shares held. Ordinary shares entitle their holder to vote, either in person or by proxy, at a meeting of the Group’s shareholders. Options Option holders do not have the right to receive dividends and are not entitled to vote at a meeting of the Group’s shareholders. Options may be exercised at any time from the date they vest to the date of their expiration. Share options convert into ordinary shares on a one for one basis on the date they are exercised. (d) Shares Issued after Reporting Date No shares have been issued after the reporting date. |
Reserves
Reserves | 12 Months Ended |
Jun. 30, 2023 | |
Reserves [Abstract] | |
RESERVES | 11. RESERVES Years Ended June 30, Notes 2023 2022 2021 (a) Share Based Payments 170,042,720 (2022: 184,692,720, 2021: 160,542,720) options for fully paid ordinary shares 11(c) 3,972,475 3,565,918 2,750,884 3,972,475 3,565,918 2,750,884 The share-based payment reserve is used to recognize the fair value of options issued to directors, executives, employees and consultants but not exercised. Amounts are transferred out of the reserve and into issued capital when the options are exercised. When options expire, the amount is transferred from reserve to accumulated losses. Years Ended June 30, Notes 2023 2022 2021 (b) Warrants/Free-attaching options 674,694,939 free-attaching options (2022: 674,694,939 free-attaching options, 2021: 674,694,939) for fully paid ordinary shares (1) 11(c) - - - - - - 1. On November 24, 2020 as part of a two tranche placement to sophisticated and professional investors the Group issued a total of 674,694,939 free attaching warrants with an exercise price of A$0.07, expiring on November 23, 2023. These warrants were assessed to have immaterial value at the time of issue. (c) Movements in Options for Fully Paid Ordinary Shares Years Ended June 30, 2023 2022 2021 Number of (A$) Number of (A$) Number of (A$) Beginning of the year 184,692,720 3,565,918 160,542,720 2,750,884 21,550,000 866,121 Options issued during the year - - 45,150,000 - 140,392,720 - Expired during the year (13,150,000 ) (560,014 ) (7,000,000 ) (240,310 ) - - Forfeited during the year (1,500,000 ) (17,150 ) (14,000,000 ) (450,777 ) (1,400,000 ) (65,800 ) Share Based Payment expense - 983,721 - 1,506,121 - 1,950,563 End of the year 170,042,720 3,972,475 184,692,720 3,565,918 160,542,720 2,750,884 Details of option grants are summarized as follows. Year ended June 30, 2021: ● On September 18, 2020, 49,000,000 options were issued to the Directors under the 2004 ASX Plan and 2018 ADS Plan. The options are exercisable at A$0.09 and expire on September 17, 2025. The fair value of the options is A$0.032 per option. ● On March 31, 2021, 1,400,000 options were forfeited upon resignation of an employee. ● On April 20, 2021, 91,392,720 options were issued to the Group’s newly appointed Chief Executive Office under the 2018 ADS Plan. The options are exercisable at A$0.032 and expire on January 6, 2026. The fair value of the options is A$0.028 per option. Year ended June 30, 2022: ● On December 8, 2021, 13,900,000 options were issued to the Group’s employees and consultants based in the United States under the 2018 ADS Plan. The options are exercisable at A$0.0238 and expire on November 29, 2026. The fair value of the options is A$0.021 per option. ● On December 8, 2021, 19,250,000 options were issued to the Group’s employees and consultants based in Australia under the 2004 ASX Plan. The options are exercisable at A$0.0375 and expire on November 29, 2026. The fair value of the options is A$0.021 per option. ● On December 8, 2021, 12,000,000 options were issued to a consultant under the 2004 ASX Plan. The options are exercisable at A$0.07 and expire on July 31, 2024. The fair value of the options is A$0.027 per option. ● On January 4, 2022, 14,000,000 options were forfeited upon resignation of two Non-Executive Directors. ● On June 6, 2022, 7,000,000 options expired. Year ended June 30, 2023: ● On December 14, 2022, 12,450,000 options expired. ● On January 31, 2023, 700,000 options expired. ● On April 3, 2023, 1,500,000 options were forfeited upon resignation of an employee. (d) Terms and Conditions of Reserves Options and warrants Option holders and warrant holders do not have the right to receive dividends and are not entitled to vote at a meeting of the Group’s shareholders. Options and warrants may be exercised at any time from the date they vest to the date of their expiration. Share options are exercisable into ordinary shares on a one for one basis on the date they are exercised. Options granted under the 2018 ADS Plan are exercisable into ADRs, being one option for one ADR, which equals 600 ordinary shares, on the date they are exercised. Expired options are reclassified into accumulated losses. Options forfeited due to failure of a vesting condition result in a reversal of the accumulated expense through the statement of profit or loss and other comprehensive loss. In Australia, there is not a set number of authorized shares, shares are not reserved for the exercise of options, and shares do not have a par value. (e) Options and Warrants Issued after Reporting Date No options were issued after reporting date. |
Accumulated Deficit During Deve
Accumulated Deficit During Development Stage | 12 Months Ended |
Jun. 30, 2023 | |
Accumulated Deficit During Development Stage [Abstract] | |
ACCUMULATED DEFICIT DURING DEVELOPMENT STAGE | 12. ACCUMULATED DEFICIT DURING DEVELOPMENT STAGE Years Ended June 30, 2023 2022 2021 Balance at beginning of year 181,884,388 169,728,414 154,419,061 Net loss for the year 13,806,515 12,847,061 15,309,353 Reclassify expired options from reserves (560,014 ) (240,310 ) - Reclassify forfeited options from reserves - (450,777 ) - Balance at end of year 195,130,889 181,884,388 169,728,414 |
Leases
Leases | 12 Months Ended |
Jun. 30, 2023 | |
Disclosure of Leases Text Block [Abstract] | |
LEASES | 13. LEASES (i) Amounts recognised in the statement of financial position The statement of financial position shows the following amounts relating to leases: Years Ended June 30, Right-of-use assets 2023 2022 2021 Right-of-use assets 207,087 115,971 65,495 Lease liabilities Current 107,177 57,632 27,746 Non-current 103,207 59,857 37,903 210,384 117,489 65,649 Additions to the right-of-use assets during the current financial year were $152,817 (2022: $86,353, 2021: $90,336). (ii) Amounts recognised in the statement of profit or loss The statement of profit or loss shows the following amounts relating to leases: Years Ended June 30, 2023 2022 2021 Depreciation of right-of-use assets 64,409 36,366 56,707 Interest expense 4,565 2,285 1,299 Expenses relating to short-term leases (included in general and administration expenses) 68,634 79,309 87,131 Expenses relating to variable lease payments not included in lease liabilities (included in general and administration expenses) - - - The total cash outflow for leases in 2023 was $133,121 (2022: $116,107, 2021: $146,719). (iii) The Group’s leasing activities and how these are accounted for The Group has adopted IFRS 16 Leases during the year ended June 30, 2020 using the modified retrospective approach. The modified approach does not require restatement of comparative periods. Instead the cumulative impact of applying IFRS 16 is accounted for as an adjustment to equity at the start of the current financial year in which it was first applied, known as the ‘date of initial application’. Refer to note 1(v) for further details. Leases are recognised as a right-of-use asset and a corresponding liability at the date at which the leased asset is available for use by the Group. Each lease payment is allocated between the liability and finance cost. The finance cost is charged to profit or loss over the lease year so as to produce a constant periodic rate of interest on the remaining balance of the liability for each year. The right-of-use asset is depreciated over the shorter of the asset’s useful life and the lease term on a straight-line basis. Assets and liabilities arising from a lease are initially measured on a present value basis. Lease liabilities include the net present value of the following lease payments: ● fixed payments (including in-substance fixed payments), less any lease incentives receivable ● variable lease payment that are based on an index or a rate ● amounts expected to be payable by the lessee under residual value guarantees ● the exercise price of a purchase option if the lessee is reasonably certain to exercise that option, and ● payments of penalties for terminating the lease, if the lease term reflects the lessee exercising that option. The lease payments are discounted using the interest rate implicit in the lease, if that rate can be determined, or the Group’s incremental borrowing rate applied at the commencement date. Right-of-use assets are measured at cost comprising the following: ● the amount of the initial measurement of lease liability ● any lease payments made at or before the commencement date, less any lease incentives received ● any initial direct costs, and ● restoration costs. Payments associated with short-term leases and leases of low-value assets are recognised on a straight-line basis as an expense in profit or loss. Short-term leases are leases with a lease term of 12 months or less. |
Cash Flow Information
Cash Flow Information | 12 Months Ended |
Jun. 30, 2023 | |
Cash Flow Information [Abstract] | |
CASH FLOW INFORMATION | 14. CASH FLOW INFORMATION Years Ended June 30, 2023 2022 2021 (a) Reconciliation of Net Loss to Net Cash Flows Used In Operations Net loss (13,806,515 ) (12,847,061 ) (15,309,353 ) Non-cash items Depreciation of property and equipment 37,854 17,848 18,662 Depreciation on leased assets 64,409 36,366 56,707 Others - 61 (145 ) Share-based payment expenses 966,571 1,506,122 1,884,763 Foreign exchange (gain)/loss (917,650 ) (2,813,635 ) 426,782 Fixed Asset Write Off 10,232 - - Changes in assets and liabilities (Increase)/Decrease in trade and other receivables (3,940,343 ) (447,684 ) (4,216,356 ) (Increase)/Decrease in other current assets (968,207 ) (516,176 ) (517,617 ) Increase/(Decrease) in trade and other payables (1,560,873 ) 2,604,001 432,905 (Decrease) in other current liabilities - - - Increase/(Decrease) in provision for employee entitlements 78,685 122,884 (106,417 ) Net cash flows used in operating activities (20,035,837 ) (12,337,274 ) (17,330,069 ) (b) Reconciliation of Cash and Cash Equivalents Cash and cash equivalents balance comprises: - cash and cash equivalents on hand 15,773,783 34,806,799 28,115,516 Closing cash and cash equivalents balance 15,773,783 34,806,799 28,115,516 (c) Non-Cash Financing and Investing Activities There were no non-cash financing and investing activities during the years ended June 30, 2023, 2022 and 2021. |
Expenditure Commitments
Expenditure Commitments | 12 Months Ended |
Jun. 30, 2023 | |
Expenditure Commitments [Abstract] | |
EXPENDITURE COMMITMENTS | 15. EXPENDITURE COMMITMENTS As of June 30, 2023, the Group no longer has short term leases contracted for but not capitalized in the financial statements. As of June 30, 2022, the Group had a short-term lease commitments within one year of A$9,857. The majority of our contracts for research and development programs have a termination notice period of 30 days. As of June 30, 2023, we had research and development termination commitments approximating A$3.7 million. No liability has been recognised within our financial statements for this period. In addition, we have the ability to scale down our operations and prioritise our research and development programs to reduce expenditures. Details in relation to commitments under employee service agreements with Directors and Key Management Personnel are outlined in Note 21. |
Share Based Payments
Share Based Payments | 12 Months Ended |
Jun. 30, 2023 | |
Share Based Payments [Abstract] | |
SHARE BASED PAYMENTS | 16. SHARE BASED PAYMENTS At the Annual General Meeting held on November 17, 2004, the shareholders approved the establishment of employee and consultant plans designed to reward directors, employees and consultants for their contributions to the Group. The plans are to be used as a method of retaining key personnel for the growth and development of the Group. Due to Alterity’s U.S. presence, a U.S. plan (the 2018 ADS Plan) and an Australian plan (the 2004 ASX Plan) were developed. As of June 30, 2023, equity had been issued to 4 Directors, 2 Key Management Personnel, 9 employees and 3 consultants under the 2004 ASX Plan and 2018 ADS Plan. As of June 30, 2022, equity had been issued to 4 Directors, 2 former Directors, 2 Key Management Personnel, 10 employees and 4 consultants under the 2004 ASX Plan and 2018 ADS Plan. As of June 30, 2021, equity had been issued to 6 Directors, 2 former Directors, 2 Key Management Personnel, 8 employees and 5 consultants under the 2004 ASX Plan and 2018 ADS Plan. At the 2004 Annual General Meeting, shareholders authorized the Group to issue in the aggregate up to 12 million ordinary shares under the two plans. This was increased to 22 million ordinary shares at the 2005 Annual General Meeting and further increased to 30 million ordinary shares at the 2007 Annual General Meeting, 45 million ordinary shares at the 2008 Annual General Meeting and 60 million ordinary shares at the 2009 Annual General Meeting. At the September 2020 General Meeting, shareholders authorized the Group to issue up to 157.5 million securities. At the 2020 Annual General Meeting, shareholders authorized the Group to issue up to 200 million ordinary shares. At the 2022 Annual General Meeting, shareholders authorized the Group to issue up to 240 million ordinary shares. The Share Plan Committee, a sub-committee of the Remuneration Committee administers the two plans and is able to change the terms of the equity issued under them from the default terms . Under the 2018 ADS Plan, the exercise price must equal or exceed the fair value of the ADS on the date the options are awarded. The option expiration date cannot exceed ten years from the date the options were awarded. The default vesting conditions are 25% per year on the date the options were awarded. Under the 2004 ASX Plan, the exercise price must be equal or be less than the market value of the ordinary shares on ASX on the date of grant. The option expiration date cannot exceed ten years from the date the options were granted. The default vesting conditions are 25% per year on the date the options were granted. Information with respect to the number of options granted under the 2004 ASX Plan and 2018 ADS Plan as follows: Years Ended June 30, 2023 2022 2021 Number of Options Weighted Number of Weighted Number of Weighted Beginning of the year 184,692,720 0.05 160,542,720 0.09 21,550,000 0.10 Issued during the year - - 45,150,000 0.04 140,392,720 0.05 Exercised during the year - - - - - - Expired during the year (13,150,000 ) 0.11 (7,000,000 ) 0.07 - Forfeited during the year (1,500,000 ) 0.02 (14,000,000 ) 0.09 (1,400,000 ) 0.11 Outstanding at year end 170,042,720 0.05 184,692,720 0.05 160,542,720 0.06 Vested and Exercisable at year end 87,280,755 0.06 60,150,000 0.09 69,150,000 0.09 Options outstanding at the end of the year have the following expiry date and exercise prices: Series Grant Date Expiry Date Exercise Share options Share options $A 2023 2022 PBTAAA December 18, 2017 December 14, 2022 0.11 - 12,450,000 PBTAI February 1, 2018 January 31, 2023 0.08 - 700,000 ATHAAB September 18, 2020 September 17, 2025 0.09 35,000,000 35,000,000 ATHAAD January 7, 2021 January 6, 2026 0.03 91,392,720 91,392,720 ATHAAE November 29, 2021 November 29, 2026 0.04 19,250,000 19,250,000 ATHAAF July 31, 2021 July 31, 2024 0.07 12,000,000 12,000,000 ATHAAG November 21, 2021 November 29, 2026 0.02 12,400,000 13,900,000 Total 170,042,720 184,692,720 Weighted average remaining contractual life of options outstanding at end of period. 2.53 years 3.32 years Risk free interest rate Dividend yield Expected volatility Expected life Model inputs – The model inputs for the valuations of options approved and issued during the current and previous financial years are as follows: Series Grant Date Exercise Price Share Price Expected Share Years to Dividend Risk-free Fair Value A$ A$ A$ PBTAS June 7, 2017 0.07 0.05 100.00 % 5.00 0 % 1.97 % 0.034 PBTAAA December 18, 2017 0.11 0.07 100.00 % 5.00 0 % 2.38 % 0.047 PBTAI February 1, 2018 0.08 0.06 100.00 % 5.00 0 % 2.24 % 0.038 ATHAAB September 18, 2020 0.09 0.05 98.00 % 5.00 0 % 0.43 % 0.032 ATHAAD January 7, 2021 0.03 0.032 139.52 % 5.00 0 % 0.38 % 0.028 ATHAAE November 29, 2021 0.04 0.025 138.47 % 5.00 0 % 1.35 % 0.021 ATHAAF July 31, 2021 0.07 0.034 169.42 % 3.00 0 % 0.13 % 0.027 ATHAAG November 29, 2021 0.02 0.024 138.47 % 5.00 0 % 1.35 % 0.021 Information with respect to the number of shares issued under the stock option plan as follows: Years Ended June 30, 2023 2022 2021 Number of Shares Number of Shares Number of Shares Beginning of the year 13,277,715 13,277,715 13,277,715 Issued during the year - - - End of the financial year 13,277,715 13,277,715 13,277,715 No shares were granted during the year ended June 30, 2023, 2022 and 2021. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Jun. 30, 2023 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | 17. SUBSEQUENT EVENTS As announced on August 15, 2023, the Group received $4.74 million cash refund from the Australian Taxation Office under the Australian Government’s Research and Development Tax Incentive (R&DTI) Scheme. The cash refund relates to the costs of eligible research and development activities that occurred during the financial year ended 30 June 2022. Refer to Note 5. No other matter or circumstance has occurred subsequent to year end that has significantly affected, or may significantly affect, the operations of the Group, the results of those operations or the state of affairs of the Group or economic entity in subsequent financial years, |
Loss Per Share
Loss Per Share | 12 Months Ended |
Jun. 30, 2023 | |
Loss Per Share [Abstract] | |
LOSS PER SHARE | 18. LOSS PER SHARE Years Ended June 30, 2023 2022 2021 Basic and diluted loss per share (cents per share) (0.57 ) (0.53 ) (0.90 ) Weighted average number of ordinary shares on issue used in the calculation of basic and diluted loss per share 2,427,841,917 2,405,990,036 1,696,576,324 The options and warrants in place do not have the effect of diluting the loss per share. Therefore, they have been excluded from the calculation of diluted loss per share. Please refer to Note 11 and Note 16 for options and warrants on issue which were assessed to be antidilutive. |
Key Management Personnel Compen
Key Management Personnel Compensation | 12 Months Ended |
Jun. 30, 2023 | |
Key Management Personnel Compensation [Abstract] | |
KEY MANAGEMENT PERSONNEL COMPENSATION | 19. KEY MANAGEMENT PERSONNEL COMPENSATION Years Ended June 30, 2023 2022 2021 Short-term employee benefits 1,727,020 1,641,015 1,891,777 Post-employment benefits 42,444 44,121 45,180 Long-term benefits 7,215 6,711 (110,285 ) Termination benefits - - 1,000,000 Share-based payments 764,175 998,164 1,950,565 2,540,854 2,690,011 4,777,237 |
Auditors' Remuneration
Auditors' Remuneration | 12 Months Ended |
Jun. 30, 2023 | |
Auditors' Remuneration [Abstract] | |
AUDITORS' REMUNERATION | 20. AUDITORS’ REMUNERATION Years Ended June 30, 2023 2022 2021 - Audit and review of financial statements (1) 246,400 216,400 202,400 - Other audit services (2) 52,000 - 130,000 298,400 216,400 332,400 1. Audit and review of financial statements consist of fees billed for assurance and related services that generally only the statutory auditor could reasonably provide to a client. 2. Included in the balance are amounts related to additional regulatory filings during the 2023 and 2021 financial years. All services provided are considered audit services for the purpose of SEC classification. PricewaterhouseCoopers was appointed as the Group’s principal independent registered public accounting firm on November 30, 2006. Australian law does not require the Group’s Auditors to be appointed at the Group’s annual general meeting of shareholders. There is an annual engagement letter which is signed, subject to the Group’s audit committee approval, with PricewaterhouseCoopers for audit and review work. No non-audit services were provided by PricewaterhouseCoopers during the 2023, 2022 and 2021 financial years. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Jun. 30, 2023 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | 21. RELATED PARTY TRANSACTIONS a. Equity Interests in Subsidiaries Alterity Therapeutics Limited owns 100% of its subsidiaries, Alterity Therapeutics Inc. and Alterity Therapeutics UK Ltd. b. Key Management Personnel Remuneration The Directors of Alterity during the year: Mr. Geoffrey Kempler, Chairman Mr. Brian Meltzer, Independent Non-Executive Director Mr. Peter Marks, Independent Non-Executive Director Mr. Lawrence Gozlan, Non-Executive Director The Key Management Personnel of the Group during the year: Dr. David Stamler Chief Executive Officer Ms. Kathryn Andrews Chief Financial Officer Remuneration of all key management personnel of the Group is determined by the Board of Directors following recommendation by the Remuneration Committee. The Group is committed to remunerating senior executives in a manner that is market competitive and consistent with ‘best practice’ including the interests of shareholders. Remuneration packages are based on fixed and variable components, determined by the executive’s position, experience and performance, and may be satisfied via cash or equity. Non-executive Directors are remunerated out of the aggregate amount approved by shareholders and at a level that is consistent with industry standards. Non-executive Directors do not receive performance based bonuses and prior shareholder approval is required to participate in any issuance of equity. No retirement benefits are payable other than statutory superannuation, if applicable. The Group’s remuneration policy is not solely based on the Group’s performance, but also on industry practice. The Group’s primary focus is research activities with a long term objective of developing and commercializing its research and development results. The Group envisages its performance in terms of earnings will remain negative whilst the Group continues in the research and clinical trials. Shareholder wealth reflects this speculative and volatile market sector. This pattern is indicative of the Group’s performance over the past four years. The purpose of a performance bonus is to reward individual performance in line with Group objectives. Consequently, performance based remuneration is paid to an individual where the individual’s performance clearly contributes to a successful outcome for the Group. This is regularly measured in respect of performance against key performance indicators (“KPI’s”). The Group uses a variety of KPI’s to determine achievement, depending on the role of the executive being assessed. Post-Employment Long Term Benefits 2023 Short Term Benefits Superannuation Long-service Termination Equity Base Fee Bonus Contribution Leave Benefit Options Total Directors’ remuneration A$ A$ A$ A$ A$ A$ A$ Mr. Geoffrey Kempler (2) 302,800 - 10,500 - - - 313,300 Mr. Brian Meltzer 63,348 - 6,652 - - - 70,000 Mr. Peter Marks 70,000 - - - - - 70,000 Mr. Lawrence Gozlan 70,000 - - - - - 70,000 506,148 - 17,152 - - - 523,300 Other key management personnel Dr. David Stamler (1) 731,381 194,570 - - - 724,047 1,649,998 Ms. Kathryn Andrews (1) 294,921 - 25,292 7,215 - 40,128 367,556 1,026,302 194,570 25,292 7,215 - 764,175 2,017,554 Total 1,532,450 194,570 42,444 7,215 - 764,175 2,540,854 (1) Base Fee includes movements in the annual leave provision for Ms. Kathryn Andrews and Dr. David Stamler in accordance with their employment contracts. (2) Includes A$202,800 in corporate advisory fees paid to an associated entity of Mr. Geoffrey Kempler for business advisory services including investor relations, marketing and business development. Post-Employment Long Term Benefits 2022 Short Term Benefits Superannuation Long-service Termination Equity Base Fee Bonus Contribution Leave Benefit Options Total Directors’ remuneration A$ A$ A$ A$ A$ A$ A$ Mr. Geoffrey Kempler (2) 377,800 - 10,000 - - - 387,800 Mr. Brian Meltzer 63,636 - 6,359 - - - 69,995 Mr. Peter Marks 70,000 - - - - - 70,000 Mr. Lawrence Gozlan (3) 107,500 - - - - - 107,500 Dr. David Sinclair (4) 34,888 - - - - - 34,888 Mr. Tristan Edwards (4) 31,819 - 4,194 - - - 36,013 685,643 - 20,553 - - - 706,196 Other key management personnel Dr. David Stamler (1) 658,393 - - - - 965,633 1,624,026 Ms. Kathryn Andrews (1) 296,979 - 23,568 6,711 - 32,531 359,789 955,372 - 23,568 6,711 - 998,164 1,983,815 Total 1,641,015 - 44,121 6,711 - 998,164 2,690,011 (1) Base Fee includes movements in the annual leave provision for Ms. Kathryn Andrews and Dr. David Stamler in accordance with their employment contracts. (2) Includes A$277,800 in corporate advisory fees paid to an associated entity of Mr. Geoffrey Kempler for business advisory services including investor relations, marketing and business development. (3) Includes A$37,500 in corporate advisory fees paid to an associated entity of Mr. Lawrence Gozlan for corporate advisory services including seeking and advancing opportunities to expand the Group’s product pipeline and other sources of funding to commence and continue the Group’s clinical trials. (4) David Sinclair and Tristan Edwards resigned on January 4, 2022. Post-Employment Long Term Benefits 2021 Short Term Benefits Superannuation Long-service Equity Base Fee Bonus Contribution Leave Termination Options Total Directors’ remuneration A$ A$ A$ A$ A$ A$ Mr. Geoffrey Kempler (2) 487,292 - 16,184 (121,542 ) 1,000,000 450,777 1,832,711 Mr. Brian Meltzer 66,209 - 6,290 - 225,389 297,888 Mr. Peter Marks 68,333 - - - 225,389 293,722 Mr. Lawrence Gozlan (3) 218,333 - - - 225,389 443,722 Dr. David Sinclair 65,800 - - - 225,389 291,189 Mr. Tristan Edwards 64,774 - 1,012 - 225,389 291,175 970,741 - 23,486 (121,542 ) 1,000,000 1,577,722 3,450,407 Other key management personnel Dr. David Stamler (1)(4) 606,058 - - - - 372,843 978,901 Ms. Kathryn Andrews (1) 314,978 - 21,694 11,257 - - 347,929 921,036 - 21,694 11,257 372,843 1,326,830 Total 1,891,777 - 45,180 (110,285 ) 1,000,000 1,950,565 4,777,237 (1) Base Fee includes movements in the annual leave provision for Ms. Kathryn Andrews and Dr. David Stamler in accordance with their employment contracts. (2) Upon termination of employment as Chief Executive Officer on January 7, 2021 Mr. Geoffrey Kempler received the sum of A$1 million in accordance with his employment agreement dated September 21, 2007 and accrued leave entitlements. His remuneration includes A$102,361 in corporate advisory fees paid to an associated entity of Mr. Geoffrey Kempler for business advisory services including investor relations, marketing and business development. (3) Includes A$150,000 in corporate advisory fees paid to an associated entity of Mr. Lawrence Gozlan for corporate advisory services including seeking and advancing opportunities to expand the Group’s product pipeline and other sources of funding to commence and continue the Group’s clinical trials. (4) Remuneration of Dr. David Stamler covered his previous role as Chief Medical Officer and Senior Vice President Clinical Development from July 1, 2020 to January 6. 2021 and CEO effective January 7, 2021. The following Senior Executives were under contract during the year ended June 30, 2022: Key management personnel Duration Notice Requirements Termination Kathryn Andrews Until termination by either party. Signed November 11, 2014 Ms Andrews may terminate with 30 days’ notice, or Accrued entitlements including all unreimbursed business expenses. Without Cause the Group may terminate with 30 days’ notice, or With Cause the Group may terminate without notice Permitted to keep and/or exercise options that have vested at the time of termination. David Stamler Until termination by either party. Signed January 6, 2021. Each party will be required to provide 6 months’ notice of termination unless otherwise agreed to in writing. Accrued entitlements including all unreimbursed business expenses. Vested but unexercised options shall be exercisable within 30 days after the date of termination. Unvested options will terminate automatically without further notice. For good reason, Dr Stamler may terminate at any time upon written notice. Payment equivalent to one hundred percent of current annualized salary. Accrued entitlements including all unreimbursed business expenses. Vested but unexercised options shall be exercisable within 30 days after the date of termination. Unvested options will terminate automatically without further notice. With Cause, the Group may terminate at any time upon written notice Payment limited to accrued salary, accrued but unused vacation pay and approved but unreimbursed expenses that are owed to date of termination All options shall be canceled upon date of termination c. Key Management Personnel Equity Holdings Balance Received as Received on Net Change Balance Fully Paid Ordinary Shares of the Group No. No. No. No. No. Mr. Geoffrey Kempler 18,011,000 - - - 18,011,000 Mr. Lawrence Gozlan - - - - - Mr. Brian Meltzer 326,666 - - - 326,666 Mr. Peter Marks 43,111 - - - 43,111 Ms. Kathryn Andrews - - - - - Dr. David Stamler - - - 3,555,000 3,555,000 18,380,777 - - 3,555,000 21,935,777 Balance Received as Received on Net Change Balance Fully Paid Ordinary Shares of the Group No. No. No. No. No. Mr. Geoffrey Kempler 18,011,000 - - - 18,011,000 Mr. Lawrence Gozlan - - - - - Mr. Brian Meltzer 326,666 - - - 326,666 Mr. Peter Marks 43,111 - - - 43,111 Dr. David Sinclair (1) - - - - - Mr. Tristan Edwards (1) - - - - - Ms. Kathryn Andrews - - - - - Dr. David Stamler - - - - - 18,380,777 - - - 18,380,777 (1) David Sinclair and Tristan Edwards resigned on January 4, 2022. Balance Received as Received on Net Change Balance Fully Paid Ordinary Shares of the Group No. No. No. No. No. Mr. Geoffrey Kempler 18,011,000 - - - 18,011,000 Mr. Lawrence Gozlan - - - - - Mr. Brian Meltzer 326,666 - - - 326,666 Mr. Peter Marks 43,111 - - - 43,111 Dr. David Sinclair - - - - - Mr. Tristan Edwards - - - - - Ms. Kathryn Andrews - - - - - Dr. David Stamler - - - - - 18,380,777 - - - 18,380,777 Share Options of the Group Balance Granted as Remuneration Options Exercised Options Expired Options Forfeited Net Change Options Vested During the year Balance Total Vested and Exercisable Total Unvested Mr. Geoffrey Kempler 19,000,000 - - (5,000,000 ) - - - 14,000,000 14,000,000 - Mr. Lawrence Gozlan 8,250,000 - - (1,250,000 ) - - - 7,000,000 7,000,000 - Mr. Brian Meltzer 8,250,000 - - (1,250,000 ) - - - 7,000,000 7,000,000 - Mr. Peter Marks 8,250,000 - - (1,250,000 ) - - - 7,000,000 7,000,000 - Ms. Kathryn Andrews 5,000,000 - - - - - - 5,000,000 1,250,000 3,750,000 Dr. David Stamler 91,392,720 - - - - - - 91,392,720 32,368,255 59,024,465 140,142,720 - - (8,750,000 ) - - - 131,392,720 68,618,255 62,774,465 Share Options of the Group Balance Granted as Remuneration Options Exercised Options Expired Options Forfeited Net Change Options Vested During the year Balance Total Total Mr. Geoffrey Kempler 19,000,000 - - - - - - 19,000,000 19,000,000 - Mr. Lawrence Gozlan 8,250,000 - - - - - - 8,250,000 8,250,000 - Mr. Brian Meltzer 8,250,000 - - - - - - 8,250,000 8,250,000 - Mr. Peter Marks 8,250,000 - - - - - - 8,250,000 8,250,000 - Dr. David Sinclair (1) 7,000,000 - - - (7,000,000 ) - - - - - Mr. Tristan Edwards (1) 7,000,000 - - - (7,000,000 ) - - - - - Ms. Kathryn Andrews 500,000 5,000,000 - (500,000 ) - - - 5,000,000 - 5,000,000 Dr. David Stamler 95,392,720 - - (4,000,000 ) - - - 91,392,720 - 91,392,720 153,642,720 5,000,000 - (4,500,000 ) (14,000,000 ) - - 140,142,720 43,750,000 96,392,720 (1) David Sinclair and Tristan Edwards resigned on January 4, 2022. Share Options of the Group Balance Granted as Remuneration Options Exercised Options Expired Options Forfeited Net Change Options Vested During the year Balance Total Total Mr. Geoffrey Kempler 5,000,000 14,000,000 - - - - 14,000,000 19,000,000 19,000,000 - Mr. Lawrence Gozlan 1,250,000 7,000,000 - - - - 7,000,000 8,250,000 8,250,000 - Mr. Brian Meltzer 1,250,000 7,000,000 - - - - 7,000,000 8,250,000 8,250,000 - Mr. Peter Marks 1,250,000 7,000,000 - - - - 7,000,000 8,250,000 8,250,000 - Dr. David Sinclair - 7,000,000 - - - - 7,000,000 7,000,000 7,000,000 - Mr. Tristan Edwards - 7,000,000 - - - - 7,000,000 7,000,000 7,000,000 - Ms. Kathryn Andrews 500,000 - - - - - - 500,000 500,000 - Dr. David Stamler 4,000,000 91,392,720 - - - - - 95,392,720 4,000,000 91,392,720 13,250,000 140,392,720 - - - - 49,000,000 153,642,720 62,250,000 91,392,720 |
Segment Information
Segment Information | 12 Months Ended |
Jun. 30, 2023 | |
Segment Information [Abstract] | |
SEGMENT INFORMATION | 22. SEGMENT INFORMATION The Group’s Chief Executive Officer (Chief Operating Decision Maker) examines internal reports to assess the Group’s performance and determine the allocation of resources. The Group’s has identified one reportable segment as a whole and cover research into Parkinsonian movement disorders, Alzheimer’s disease, Huntington disease, and other neurodegenerative disorders. |
Financial Instruments
Financial Instruments | 12 Months Ended |
Jun. 30, 2023 | |
Financial Instruments [Abstract] | |
FINANCIAL INSTRUMENTS | 23. FINANCIAL INSTRUMENTS The Group’s activities expose it to a variety of financial risks including market risk, credit risk and liquidity risk. The Group’s overall risk management program focuses on the unpredictability of financial markets and seeks to minimize potential adverse effects on the financial performance of the Group. Risk management is carried out under policies approved by the Board of Directors and overseen by the Audit Committee. (a) Market Risk (i) Foreign Currency Risk The Group engages in international purchase transactions and is exposed to foreign currency risk arising from various currency exposures, primarily with respect to the Australian dollar. The parent entity also has exposure to foreign exchange risk in the currency cash reserves it holds to meet its foreign currency payments. The Group does not make use of derivative financial instruments to hedge foreign exchange risk. The following financial assets and liabilities are subject to foreign currency risk, the currency of the original amounts are displayed in brackets, all the amounts in the table below are displayed in A$ at year-end spot rates: Consolidated Entity 2023 2022 A$ A$ Cash and cash equivalents (USD) 15,473,231 29,361,393 Cash and cash equivalents (€EUR) - - Cash and cash equivalents (£GBP) - 423 Trade and other payables (USD) (1,611,223 ) (2,088,037 ) Trade and other payables (€EUR) - - Trade and other payables (£GBP) (17,444 ) (102,637 ) Total exposure 13,844,564 27,171,142 As shown in the table above, the Group is primarily exposed to changes in USD/AUD exchange rates. The sensitivity of profit or loss to changes in the exchange rates arises mainly from US-dollar denominated financial instruments and there is no impact on other components of equity. Based on the financial instruments held as of June 30, 2023, had the Australian dollar weakened/strengthened by 3.60% (2022: 8.19%) against the USD with all other variables held constant, the Group’s post-tax loss for the year would have been A$499,159 lower/higher (2021: A$2,233,871 lower/higher). (ii) Interest Rate Risk The Group’s exposure to interest rate risk, which is the risk that a financial instruments value will fluctuate as a result of changes in market interest rates and the effective weighted average interest rates on classes of financial assets and financial liabilities. The Group’s exposure to interest rate risk has not changed since the prior year. At June 30, 2023, the Group had the following cash accounts: ● A$27,457 in an Australian dollar cash maximiser account at an interest rate of 1.44% as of June 30, 2023; ● A$61,518 in an Australian dollar transaction account at an interest rate of 0.00% as of June 30, 2023; ● A$18,864 in an Australian dollar transaction account at an interest rate of 0.00% as of June 30, 2023; ● U.S.$10,279,099 (A$15,473,231) in U.S. checking accounts at an interest rate of 0.00% as of June 30, 2023; ● A$42,713 in a 90 days term deposit at a fixed interest rate of 3.85% which matures on August 28, 2023; ● A$150,000 in a 90 days term deposit at a fixed interest rate of 3.85% which matures on September 2, 2023; At June 30, 2022, the Group had the following cash accounts: ● A$4,863,883 in an Australian dollar cash maximiser account at an interest rate of 0.29% as of June 30, 2022; ● A$106,224 in an Australian dollar transaction account at an interest rate of 0.00% as of June 30, 2022; ● A$281,415 in an Australian dollar transaction account at an interest rate of 0.00% as of June 30, 2022; ● U.S.$20,233,747 (A$29,361,393) in U.S. checking accounts at an interest rate of 0.00% as of June 30, 2022; ● A$42,713 in a 90 days term deposit at a fixed interest rate of 0.15% which matures on September 2, 2022; ● A$150,000 in a 90 days term deposit at a fixed interest rate of 0.15% which matures on September 7, 2022; At June 30, 2021, the Group had the following cash accounts: ● A$3,231,661 in an Australian dollar transaction account at an interest rate of 0.01% as of June 30, 2021; ● A$46,862 in an Australian dollar transaction account at an interest rate of 0.00% as of June 30, 2021; ● A$119,340 in an Australian dollar transaction account at an interest rate of 0.00% as of June 30, 2021; ● U.S.$16,159,039 (A$21,523,678) in U.S. checking accounts at an interest rate of 0.00% as of June 30, 2021; ● A$42,713 in a three month term deposit at a fixed interest rate of 0.10% which matures on September 7, 2021; ● A$150,000 in a three month term deposit at a fixed interest rate of 0.10% which matures on September 11, 2021; ● A$3,000,000 in a 90 days term deposit at a fixed interest rate of 0.05% which matures on July 27, 2021. The weighted average interest rate is 0.05% for cash and cash equivalents and 3.85% for terms deposits for 90 days and apart from usual variances in general rates of interest the Group is not exposed to any significant interest rate risk. Receivables and payables are non-interest bearing. The Group’s exposure to interest rates and the effective weighted average interest rate for classes of financial assets and liabilities is set out below: June 30, 2023 Floating Fixed Interest Non-Interest Total Average 1 year 1-5 years Financial Assets Cash and cash equivalents 27,457 192,713 - 15,553,613 15,773,783 0.050 % Trade and other receivables - - - 8,665,704 8,665,704 Other current assets - 29,150 - - - 4.4 % Total Financial Assets 27,457 192,713 - 24,219,317 24,439,487 Financial Liabilities Trade and other payables - - - (3,517,708 ) (3,517,708 ) Lease liabilities - (107,177 ) (103,207 ) - (210,384 ) Total Financial Liabilities - (107,177 ) (103,207 ) (3,517,708 ) (3,728,092 ) June 30, 2022 Floating Fixed Interest Non-Interest Total Average 1 year 1-5 years Financial Assets Cash and cash equivalents 4,863,883 192,713 - 29,750,203 34,806,799 0.002 % Trade and other receivables - - - 4,725,361 4,725,361 Total Financial Assets 4,863,883 192,713 - 34,475,564 39,532,160 0.002 % Financial Liabilities Trade and other payables - - - (5,106,511 ) (5,106,511 ) Lease liabilities - (57,632 ) (59,857 ) - (117,489 ) Total Financial Liabilities - (57,632 ) (59,857 ) (5,106,511 ) (5,224,000 ) (b) Credit Risk Credit risk refers to the risk that a counterparty will default on its contractual obligations resulting in financial loss to the Group. The Group has no significant concentration of credit risk and it is not the Group’s policy to hedge credit risk. The Group ensures that surplus cash is invested with financial institutions of appropriate credit worthiness and limits the amount of credit exposure to any one counter party. There has been no significant change in the Group’s exposure to credit risk since the previous year. The carrying amount of the Group’s financial assets represents the maximum credit exposure. (c) Liquidity Risk Prudent liquidity risk management implies maintaining sufficient cash and the availability of funding through an adequate amount of committed credit facilities. The Group manages liquidity risk by maintaining sufficient bank balances to fund its operations and the availability of funding through committed credit facilities. Management monitors rolling forecasts of the Group’s liquidity reserve on the basis of expected cash flows. See Note 1 (Going Concern Basis) of our accompanying financial statements. Maturities of Financial Liabilities 2023 Less than 6-12 Greater Total Carrying Trade and other payables (3,517,708 ) - - (3,517,708 ) (3,517,708 ) Lease liabilities (53,589 ) (53,588 ) (103,207 ) (210,384 ) (210,384 ) Total (3,571,297 ) (53,588 ) (103,207 ) (3,728,092 ) (3,728,092 ) 2022 Less than 6-12 Greater Total Carrying Trade and other payables (5,106,511 ) - - (5,106,511 ) (5,106,511 ) Lease liabilities (57,746 ) - (59,857 ) (117,489 ) (117,489 ) Total (5,164,143 ) - (59,857 ) (5,224,000 ) (5,224,000 ) (d) Capital Risk Management The Group’s objectives when managing capital are to safeguard the Group’s ability to continue as a going concern and to maintain an optimal capital structure so as to maximize shareholder value. In order to maintain or achieve an optimal capital structure, the Group may issue new shares or reduce its capital, subject to the provisions of the Group’s constitution. The capital structure of the Group consists of equity attributed to equity holders of the Group, comprising contributed equity, reserves and accumulated losses disclosed in Notes 10, 11 and 12. By monitoring undiscounted cash flow forecasts and actual cash flows provided to the Board by the Group’s Management the Board monitors the need to raise additional equity from the equity markets. (e) Fair Value Estimation The carrying amount of financial assets and financial liabilities recorded in the financial statements represents their respective fair values, determined in accordance with the accounting policies disclosed in Note 1 to the financial statements. Financial Instruments measured at Fair Value The financial instruments recognised at fair value in the Statement of Financial Position have been analysed and classified using a fair value hierarchy reflecting the significance of the inputs used in making the measurements. The fair value hierarchy consists of the following levels: - quoted prices in active markets for identical assets or liabilities (Level 1); - inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (as prices) or indirectly (derived from prices) (Level 2); and - inputs for the asset or liability that are not based on observable market data (unobservable inputs) (Level 3). In 2023 and 2022, none of the Group’s assets and liabilities had their fair value determined using the fair value hierarchy. No transfers between the levels of the fair value hierarchy occurred during the current or previous years. |
Parent Entity Financial Informa
Parent Entity Financial Information | 12 Months Ended |
Jun. 30, 2023 | |
Background and Summary of Significant Accounting Policies [Abstract] | |
PARENT ENTITY FINANCIAL INFORMATION | 24. PARENT ENTITY FINANCIAL INFORMATION The individual financial statements for the parent entity show the following aggregate amounts: June 30, 2023 2022 Statement of financial position Current Assets 27,048,773 41,144,089 Non-current Assets 229,103 137,128 Total assets 27,277,876 41,281,217 Current liabilities (4,993,949 ) (6,270,879 ) Non-current liabilities (122,710 ) (32,450 ) Total liabilities (5,116,659 ) (6,303,329 ) Shareholders’ equity Contributed equity 213,971,323 213,787,061 Reserves 3,972,475 3,565,918 Accumulated losses (195,782,581 ) (182,375,091 ) Total equity 22,161,217 34,977,888 Statement of profit or loss and other comprehensive income Loss for the year (13,967,504 ) (13,019,855 ) Total comprehensive loss for the year (13,967,504 ) (13,019,855 ) |
Accounting Policies, by Policy
Accounting Policies, by Policy (Policies) | 12 Months Ended |
Jun. 30, 2023 | |
Accounting Policies [Abstract] | |
Principles of Consolidation | (a) Principles of Consolidation The consolidated financial statements are prepared by combining the financial statements of all the entities that comprise the Group, being Alterity Therapeutics Limited and its subsidiaries as defined in Accounting Standard IFRS10: Consolidated Financial Statements Subsidiaries are all those entities (including special purpose entities) over which the Group has control. The group controls an entity where the group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power to direct the activities of the entity. The existence and effect of potential voting rights that are currently exercisable or convertible are considered when assessing whether the Group controls another entity. Subsidiaries are fully consolidated from the date on which control is transferred to the Group. They are de-consolidated from the date that control ceases. In preparing the consolidated financial statements, all inter-company balances and transactions, and unrealized profits/losses arising within the Group are eliminated in full. Investments in subsidiaries are accounted for at cost in the individual financial statements of Alterity Therapeutics Limited. |
Segment Reporting | (b) Segment Reporting Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision maker. The chief operating decision maker, who is responsible for allocating resources and assessing performance of the operating segments, has been identified as the Chief Executive Officer of Alterity Therapeutics Limited. For the current and previous reporting periods, the Group operated in one segment, being research and development into Parkinsonian and other neurodegenerative disorders. |
Income Tax | (c) Income Tax Current tax Current tax is calculated by reference to the amount of income taxes payable or recoverable in respect of the taxable profit or loss for the period. It is calculated using tax rates and tax laws that have been enacted or substantively enacted by reporting date. Current tax for current and prior periods is recognised as a liability (or asset) to the extent that it is unpaid (or refundable). Deferred tax Deferred tax is accounted for using the liability method in respect of temporary differences arising from differences between the carrying amount of assets and liabilities in the financial statements and the corresponding tax base of those items. In principle, deferred tax assets and liabilities are recognised for all taxable temporary differences. Deferred tax assets are recognised to the extent that it is probable that sufficient taxable amounts will be available against which deductible temporary differences or unused tax losses and tax offsets can be utilized. However, deferred tax assets and liabilities are not recognised if the temporary differences giving rise to them arise from the initial recognition of assets and liabilities (other than as a result of a business combination) which affects neither taxable income nor accounting profit or loss. Deferred tax liabilities are recognised for taxable temporary differences arising on investments in subsidiaries except where the Group is able to control the reversal of the temporary differences and it is probable that the temporary differences will not reverse in the foreseeable future. Deferred tax assets arising from deductible temporary differences associated with these investments are only recognised to the extent that it is probable that there will be sufficient taxable profits against which to utilize the benefits of the temporary differences and they are expected to reverse in the foreseeable future. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the period(s) when the asset and liability giving rise to them are realized or settled, based on tax rates (and tax laws) that have been enacted or substantively enacted by reporting date. The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the manner in which the Group expects, at the reporting date, to recover or settle the carrying amount of its assets and liabilities. Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets and liabilities and when the deferred tax balances relate to the same taxation authority. Current tax assets and tax liabilities are offset when the entity has a legally enforceable right to offset and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. Current and deferred tax for the period Current and deferred tax is recognised as an expense or income in the Statement of Profit or Loss and Other Comprehensive Income, except when it relates to items credited or debited directly to equity, in which case the deferred tax is also recognised directly in equity, or where it arises from the initial accounting for a business combination, in which case it is taken into account in the determination of goodwill. The Group has significant unused tax losses and as such a significant deferred tax asset; however, the deferred tax asset has not been recognised, as it is not probable that future taxable profit will be available against which the unused losses and unused tax credits can be utilized, given the nature of the Group’s business (research and development) and its history of losses. |
Property and Equipment | (d) Property and Equipment Property and equipment is measured at historical cost less accumulated depreciation and impairment and consists of laboratory equipment, computer equipment, furniture and fittings and leasehold improvements attributable to the Group’s premises at Melbourne, Victoria, Australia and San Francisco, USA. Historical cost includes expenditure that is directly attributable to the acquisition of the item. Subsequent costs are included in the asset’s carrying amount or recognised as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably. The carrying amount of any component accounted for as a separate asset is derecognised when replaced. All other repairs and maintenance are charged to the income statement during the reporting period in which they are incurred. Depreciation Depreciation is provided on property and equipment. Depreciation is calculated on a straight-line method to allocate their cost, net of their residual values, over their estimated useful lives. The following estimated useful lives, ranging from 3 to 20 years are used in the calculation of depreciation: Class of Fixed Asset Depreciation Rate Furniture and fittings 5-33% Computer equipment 33% Plant and equipment 10-33% Leasehold improvements 33% Leasehold improvements are depreciated over the shorter of the lease term and useful life. The depreciation method, residual values and useful lives are reviewed, and adjusted if appropriate, at each annual reporting period. |
Leases | (e) Leases The accounting policies for the Group’s lease recognition are explained in note 13. |
Investments and other financial assets | (f) Investments and other financial assets Classification From July 1, 2019, the Group classifies its financial assets in the following measurement categories: ● those to be measured subsequently at fair value (either through OCI or through profit or loss), and ● those to be measured at amortized cost. The classification depends on the entity’s business model for managing the financial assets and the contractual terms of the cash flow. For assets measured at fair value, gains and losses will either be recorded in profit or loss or OCI. For investments in equity instruments that are not held for trading, this will depend on whether the Group has made an irrevocable election at the time of initial recognition to account for the equity investment at fair value through other comprehensive income (FVOCI). Recognition and derecognition Regular way purchases and sales of financial assets are recognised on trade-date, the date on which the Group commits to purchase or sell the asset. Financial assets are derecognised when the rights to receive cash flows from the financial assets have expired or have been transferred and the Group has transferred substantially all the risks and rewards of ownership. Measurement At initial recognition, the Group measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss (FVPL), transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at FVPL are expensed in profit or loss. Assets that are held for collection of contractual cash flows where those cash flows represent solely payments of principal and interest are measured at amortised cost. Interest income from these financial assets is included in finance income using the effective interest rate method. Any gain or loss arising on derecognition is recognised directly in profit or loss and presented in other gains/(losses) together with foreign exchange gains and losses. Impairment losses are presented as separate line item in the consolidated statement of profit or loss. Equity instruments The Group subsequently measures all equity investments at fair value. Where the Group’s management has elected to present fair value gains and losses on equity investments in OCI, there is no subsequent reclassification of fair value gains and losses to profit or loss following the derecognition of the investment. Dividends from such investments continue to be recognised in profit or loss as other income when the Group’s right to receive payments is established. Impairment From July 1, 2019, the Group assesses on a forward looking basis the expected credit losses associated with its debt instruments carried at amortized cost and FVOCI. The impairment methodology applied depends on whether there has been a significant increase in credit risk. For trade receivables, the Group applies the simplified approach permitted by IFRS 9, which requires expected lifetime losses to be recognised from initial recognition of the receivables, see note 5 for further details. |
Impairment of Assets | (g) Impairment of Assets At each reporting date, the Group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have been impaired. If any such indication exists, the recoverable amount of the asset is estimated to determine the extent of the impairment loss (if any). Where the asset does not generate cash flows that are independent from other assets, the Group estimates the recoverable amount of the cash-generating unit to which the asset belongs. Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised in the consolidated statement of profit or loss and other comprehensive income immediately. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is reversed to the revised estimate of its recoverable amount, but only to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised in the consolidated statement of profit or loss and other comprehensive income immediately. No impairment charges were incurred during the three years ended June 30, 2023, 2022 and 2021. |
Intangible Assets - Research and Development | (h) Intangible Assets - Research and Development Expenditure during the research phase of a project is recognised as an expense when incurred. Where no internally generated intangible assets can be recognised, development expenditure is recognised as an expense in the period as incurred. Development costs are capitalised if and only if, all of the following are demonstrated: ● the technical feasibility of completing the intangible asset so that it will be available for use or sale; ● the intention to complete the intangible asset and use or sell it; ● the ability to use or sell the intangible asset; ● how the intangible asset will generate probable future economic benefits; ● the availability of adequate technical, financial and other resources to complete the development and to use or sell the intangible asset; and ● the ability to measure reliably the expenditure attributable to the intangible asset during its development. Internally-generated intangible assets (capitalised development costs) are stated at cost less accumulated amortisation and impairment, and are amortised on a straight-line basis over their useful lives over a maximum of five years. As of June 30, 2023, 2022 and 2021, the Group had no capitalized research and development costs. |
Foreign Currency Transactions and Balances | (i) Foreign Currency Transactions and Balances Functional and Presentation Currency Items included in the financial statements of each of the Group’s entities are measured using Australian dollars, which is the currency of the primary economic environment in which the Group operates (the functional currency). The consolidated financial statements are presented in Australian dollars ($), which is Alterity Therapeutics Limited’s functional and presentation currency. Foreign currency transactions All foreign currency transactions during the financial year are brought to account using the exchange rate in effect at the date of the transaction. Foreign currency monetary items at each reporting date are translated at the exchange rate existing at each reporting date. Non-monetary assets and liabilities carried at fair value that are denominated in foreign currencies are translated at the rates prevailing at the date when the fair value was determined. Exchange differences are recognised in profit or loss in the period in which they arise except for exchange differences on monetary items receivable from or payable to a foreign operation for which settlement is neither planned or likely to occur, which form part of the net investment in a foreign operation, are recognised in the foreign currency translation reserve and recognised in profit or loss on disposal of the net investment. Subsidiaries The results and financial position of all the Group’s entities that have a functional currency difference from the presentation currency are translated into the presentation currency as follows: ● assets and liabilities for each balance sheet presented are translated at the closing rate at the date of that balance sheet, and ● income and expenses for each income statement are translated at average exchange rates (unless this is not a reasonable approximation of the cumulative effect of the rates prevailing on the transaction dates, in which case income and expenses are translated at the dates of the transactions), and ● all resulting exchange differences are recognised as a separate component of equity. On consolidation, the assets and liabilities of the Group’s overseas operations are translated at exchange rates prevailing at the reporting date. Income and expense items are translated at the average exchange rates for the period unless exchange rates fluctuate significantly. Exchange differences arising, if any, are recognised in the foreign currency translation reserve, and recognised in profit or loss on disposal of the foreign operations. |
Employee Benefits | (j) Employee Benefits Short-term obligations Short-term employee benefits are benefits (other than termination benefits) that are expected to be settled wholly before 12 months after the end of the annual reporting period in which the employees render the related service, including wages, and salaries. Short-term employee benefits are measured at the (undiscounted) amounts expected to be paid when the obligation is settled. The Group’s obligations for short-term employee benefits such as wages and salaries are recognised as a part of current trade and other payables in the statement of financial position. The Group’s obligations for annual leave are presented as part of provisions in the Statement of Financial Position. The obligations are presented as current liabilities in the Statement of Financial Position if the Group does not have an unconditional right to defer settlement for at least twelve months after the reporting period regardless of when the actual settlement is expected to occur. Other long-term obligations The liability for long service leave is not expected to be settled wholly within twelve months after the end of the period in which the employees render the related service. The liability is therefore recognised in the provision for employee benefits and measured as the present value of expected future payments to be made in respect of services provided by employees up to the end of the reporting period using the projected unit credit method. Consideration is given to expected future wage and salary levels, experience of employee departures and periods of service. Expected future payments are discounted using market yields at the end of the reporting period of high quality corporate bonds with terms and currencies that match, as closely as possible, the estimated future cash outflows. Re-measurements as a result of experience adjustments and changes in actuarial assumptions are recognised in profit or loss. The obligations are presented as current liabilities in the balance sheet if the entity does not have an unconditional right to defer settlement for at least twelve months after the reporting period, regardless of when the actual settlement is expected to occur. |
Provisions | (k) Provisions Provisions are recognised when the Group has a present obligation, the future sacrifice of economic benefits is probable, and the amount of the provision can be measured reliably. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at reporting date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows. When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, the receivable is recognised as an asset if it is virtually certain that recovery will be received and the amount of the receivable can be measured reliably. |
Cash and Cash Equivalents | (l) Cash and Cash Equivalents Cash and cash equivalents include cash on hand, deposits held at call with banks and other short-term highly liquid investments with original maturities of three months or less. |
Interest income | (m) Interest income Other income is made up of interest income which is recognised on a time proportion basis using the effective interest method. |
Grants | (n) Grants Grants are recognised when there is reasonable assurance that the grant will be received and all grant conditions will be complied with. When the grant relates to an expense item, it is recognised as income over the periods necessary to match the grant on a systematic basis to the costs that it is expected to compensate. |
Goods and Services Tax (“GST”) | (o) Goods and Services Tax (“GST”) Revenues, expenses and assets are recognised net of the amount of GST, except where the amount of GST incurred is not recoverable from the taxation authority. In these circumstances the GST is recognised as part of the cost of acquisition of the asset or as part of an item of expense. Receivables and payables in the Balance Sheet are shown inclusive of GST. The net amount of GST recoverable from, or payable to, the taxation authority is included as part of receivables or payables. Cash flows are included in the Cash Flow Statement on a gross basis. The GST component of cash flows arising from investing and financing activities which is recoverable from, or payable to, the taxation authority is classified as operating cash flows. |
Trade and Other Payables | (p) Trade and Other Payables These amounts represent liabilities for goods and services provided to the Group prior to the end of financial year which are unpaid. The amounts are unsecured and are usually paid within 30 days of recognition. Trade and other payables are presented as current liabilities unless payment is not due within 12 months from the reporting date. They are recognised initially at their fair value and subsequently measured at amortized cost using the effective interest method. |
Share-Based Payments | (q) Share-Based Payments The measurement date is determined for share-based payments issued to directors, employees and consultants as follows: Directors The issuance of share-based payments to directors is subject to approval by shareholders as per ASX Listing Rule 10.11. The measurement date for share-based payments issued to directors is the grant date, being the date at which the share-based payments are approved by shareholders. Employees The issuance of share-based payments to employees may be subject to shareholder approval per ASX Listing Rule 7.1 which prohibits the issuance of more than 15% of the Group’s shares in a 12 month period without shareholder approval. The measurement date for share-based payments issued to employees is the grant date, being the date at which a shared understanding of the terms and conditions of the arrangement is reached. However, if an issuance to an employee is subject to shareholder approval because it exceeds the 15% threshold per ASX Listing Rule 7.1, then the measurement date of these share-based payments is the date at which the share-based payments are approved by shareholders. Consultants The issuance of share-based payments to consultants may be subject to shareholder approval per ASX Listing Rule 7.1 which prohibits the issuance of more than 15% of the Group’s shares in a 12 month period without shareholder approval. The measurement date for share-based payments issued to consultants who provide services considered to be similar to employees is deemed to be the date at which a shared understanding of the terms and conditions of the arrangement is reached. The measurement date for share-based payments issued to consultants who provide services considered to be differentiated from those provided by employees is deemed to be the date at which the entity obtains the goods or the counterparty renders the service. If a service period applies and the work is continually provided over the service period, and if the share price of the Group does not change significantly during the service period, then the average share price, volatility and risk-free rate over the service period are used in calculating the value of the share-based payments issued. However, if the underlying share price of the Group does change significantly during the service period, then the value of share-based payments are calculated at each individual date that goods and services are provided, using the actual valuation inputs at that date. Shares issued to consultants for services are recorded as non-cash compensation and are recognised at either the fair value of the services rendered, or if this cannot be reasonably estimated, the fair value of the underlying equity instruments issued. Equity-based compensation benefits are provided to directors, employees and consultants under the 2004 ASX Plan (the “2004 ASX Plan”) and the 2018 American Depository Share (ADS) Option Plan (the “2018 ADS Plan”). Information relating to this plan is set out in Note 16. The fair value of options granted under these plans is recognised as an expense with a corresponding increase in equity. The fair value is measured at grant date and recognised over the period during which the recipients become unconditionally entitled to the options. The fair value at grant date is independently determined using a Black-Scholes (for options without market condition) and Barrier Pricing (for options with market conditions) model that takes into account the exercise price, the term of the option, the impact of dilution, the share price at grant date and expected price volatility of the underlying share, the expected dividend yield and the risk free interest rate for the term of the option. The expected life used in the model has been adjusted, based on management’s best estimate, for the effects of non-transferability, exercise restrictions, and behavioral considerations. The fair value determined at the grant date of the equity-settled share-based payments is expensed on a straight-line basis over the vesting period, based on the Group’s estimate of shares that will eventually vest. |
Loss Per Share | (r) Loss Per Share Basic loss per share is determined by dividing the net loss after income tax expense by the weighted average number of ordinary shares outstanding during the financial period. For all periods presented, diluted loss per share is equivalent to basic loss per share as the potentially dilutive securities are excluded from the computation of diluted loss per share because the effect is anti-dilutive. |
Share Capital | (s) Share Capital Ordinary share capital is recognised as the fair value of the consideration received by the Group. Any transaction costs arising on the issue of ordinary shares are recognised directly in equity as a reduction of the share proceeds received. |
Trade and Other Receivables | (t) Trade and Other Receivables Trade and other receivables are recognised initially at fair value and subsequently measured at amortized cost using the effective interest rate method less provision for impairment. |
Comparative Figures | (u) Comparative Figures Comparative figures, are, where appropriate, reclassified to be comparable with figures presented in the current financial year. |
New Accounting Standards And Interpretations | (v) New Accounting Standards and Interpretations The Group has adopted all of the new or amended Accounting Standards and Interpretations issued by the International Accounting Standards Board ‘IASB’ that are mandatory for the current reporting period. The adoption of these standards has not had any material impact on the disclosures or amounts reported in these financial statements. The Directors have also reviewed all the new and revised Standards and Interpretations in issue not yet adopted for the year ended June 30, 2023. As a result of this review, the Directors have determined that there is no material impact of the Standards and Interpretations in issue not yet adopted on the Group and, therefore, no change is considered necessary to the Group’s accounting policies. |
Background and Summary of Sig_2
Background and Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Background and Summary of Significant Accounting Policies [Abstract] | |
Schedule of Estimated Useful Lives | The following estimated useful lives, ranging from 3 to 20 years are used in the calculation of depreciation: Class of Fixed Asset Depreciation Rate Furniture and fittings 5-33% Computer equipment 33% Plant and equipment 10-33% Leasehold improvements 33% |
Interest and Other Income fro_2
Interest and Other Income from Continuing Operations (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Interest and Other Income from Continuing Operations [Abstract] | |
Schedule of Interest and Other Income from Continuing Operations | Years Ended June 30, 2023 2022 2021 Interest income Interest income 16,436 2,504 20,676 Total interest income 16,436 2,504 20,676 Other income R&D Tax Incentive (1) 3,914,230 4,669,405 4,126,364 COVID-19 relief (2) - - 145,626 Other grant (3) - 454,120 213,235 Miscellaneous Income 2,103 - - Total other income 3,916,333 5,123,525 4,485,225 Total interest and other income from continuing operations 3,932,769 5,126,029 4,505,901 (1) A 43.5% R&D Tax incentive refundable tax offset, will be available to eligible small companies with an annual aggregate turnover of less than $20 million. For the years ended June 30, 2023, June 30, 2022 and June 30, 2021, the Group is eligible to receive the refundable tax offset, the management with input from an independent expert, has applied judgement when assessing activities and expenditures that are likely to be eligible under the incentive scheme and therefore recorded $3,914,230, $4,669,405 and $4,126,364 in other income, respectively. (2) The COVID-19 relief relates to government assistance received during the year, from the Australian Governments (at both federal and state level), in response to the economic and financial challenges in the current economy. This COVID-19 relief consists of the eligible cash flow boost grants and state level payroll tax refund and waivers. The Group has recognised this relief as part of government grants in line with IAS 20. (3) Other grant relates to the receipt of grant funding awarded by Michael J. Fox Foundation for Parkinson’s Research during the year ended June 30, 2022 and June 30, 2021. |
Expenses from Ordinary Activi_2
Expenses from Ordinary Activities (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Expenses from Ordinary Activities [Abstract] | |
Schedule of Expenses from Ordinary Activities | Years Ended June 30, 2023 2022 2021 Research and Development Expenses (1) Employee expenses 2,720,345 2,517,516 2,169,420 Other research and development expenses 10,478,238 12,228,260 10,114,428 General and Administration Expenses Depreciation on fixed assets 37,854 17,848 18,662 Depreciation on leased assets 64,409 36,366 56,707 Employee expenses (non R&D related) 926,314 705,541 1,556,078 Consultant and director expenses 320,500 390,896 852,369 Audit, internal control and other assurance expenses 238,728 220,798 220,198 Corporate compliance expenses 457,215 401,741 692,895 Insurance expenses 721,732 655,990 531,877 Office rental 68,634 79,329 87,612 Other administrative and office expenses 1,032,843 911,347 718,520 Share based payment expenses 966,571 1,506,122 1,950,563 Corporate advisory expenses 204,621 587,937 252,361 Other gains and losses Foreign exchange (gain)/loss (917,650 ) (2,722,430 ) 297,111 (1) Research and development expenses mainly consist of expenses paid for contracted research and development activities conducted by third parties on behalf of the Group. |
Income Tax (Tables)
Income Tax (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Income Tax [Abstract] | |
Schedule of Income Tax | Years Ended June 30, 2023 2022 2021 (a) Income tax expense: Current tax 33,808 50,072 - Adjustment for current tax of prior periods 70,651 19,936 - Deferred tax - - - (b) Numerical reconciliation of income tax expense to prima facie tax payable: Prima facie tax on net loss before income tax at 25% (2022: 25%, 2021: 26%) (3,446,718 ) (3,194,263 ) (3,980,432 ) Effect of lower tax rates of tax on overseas income (6,440 ) (9,712 ) (11,344 ) Add tax effect of: Under/(Over) provision of income tax in previous year relating to a revision of estimates 70,651 19,936 - Research and development expenditure (net of tax incentive) 1,267,940 1,516,215 1,393,478 Research and development tax offset (1) - - (2,976,920 ) Adjustments for current tax of prior periods (1) - - 1,764,370 Other 413,976 529,075 628,535 Deferred tax asset not recognised 1,805,050 1,208,757 3,182,313 Income tax expense attributable to loss before income tax 104,459 70,008 - (c) Potential deferred tax asset as of June 30, 2023, 2022 and 2021 in respect of: tax losses not brought to account is (1)(2): 44,056,899 41,204,149 41,223,341 Temporary differences 3,675,742 2,903,797 4,549,151 (1) As of June 30, 2023, the Group had a potential tax benefit related to gross tax losses carried forward of $164,311,376 (2022: $153,026,530) and a non-refundable R&D tax offset of $2,976,920 (2022: $2,976,920). The non-refundable tax offset and the adjustment for current tax of prior periods in 2021 relates to the 2020 R&D tax incentive claim which was submitted in 2021. (2) Unused tax loss amounts are only attributable to the Group’s operations in Australia, as the subsidiary in the United States has no carryforward tax losses as of June 30, 2023. Tax losses can be carried forward indefinitely subject to continuity of ownership and same business test rules. |
Trade and Other Receivables (Ta
Trade and Other Receivables (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Trade and Other Receivables Table [abstract] | |
Schedule of Trade and Other Receivables | Years Ended June 30, 2023 2022 Accrued interest income 656 18 R&D tax incentive receivable (1) 8,583,635 4,669,405 Goods and services tax receivable 16,184 55,938 Accounts receivable 65,229 - Total Trade and Other Receivables 8,665,704 4,725,361 (1) Subsequent to the end of the period, on 15 August 2023 $4,725,361, representing the R&D tax incentive for the 2022 year was received. |
Other Current Assets (Tables)
Other Current Assets (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Other Current Assets [Abstract] | |
Schedule of Other Current Assets | Years Ended June 30, 2023 2022 Prepayments 2,569,522 1,601,697 Other 39,764 10,232 Total 2,609,286 1,611,929 |
Trade and Other Payables (Table
Trade and Other Payables (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Trade and Other Payables [Abstract] | |
Schedule of Trade and Other Payables | Years Ended June 30, 2023 2022 Trade creditors 1,716,135 2,689,098 Accrued research and development expenses 1,458,310 2,066,500 Accrued professional fees 222,126 185,362 Other accrued expenses 87,223 107,929 Other payables 33,914 57,622 Total 3,517,708 5,106,511 |
Provisions (Tables)
Provisions (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Provisions Table [abstract] | |
Schedule of Provisions | Years Ended June 30, 2023 2022 Current Annual leave (1) 420,380 371,877 Long service leave (1)(2) 308,822 284,390 Total 729,202 656,267 Non-Current Long service leave (2) 19,503 13,753 (1) Movements in provisions (2) Amounts not expected to be settled within the next 12 months |
Schedule of Movements in Provisions | Movements in each class of provision during the financial year are set out below: Years Ended June 30, 2023 2022 2021 Annual leave Carrying amount at start of year 371,877 273,876 285,360 Charged/(credited) to profit or loss -additional provisions recognised 272,502 242,532 231,981 Amounts used during the year (232,747 ) (158,968 ) (231,061 ) Change in foreign exchange 8,748 14,437 (12,404 ) Carrying amount at end of year 420,380 371,877 273,876 Long service leave Carrying amount at start of year 298,143 273,260 368,193 Charged/(credited) to profit or loss -additional provisions recognised 30,182 25,210 31,725 Amounts used during the year - (327 ) (126,658 ) Carrying amount at end of year 328,325 298,143 273,260 TOTAL 748,705 670,020 547,136 |
Schedule of Amounts not Expected to be Settled within the Next 12 Months | The following amounts reflect leave that is not expected to be taken or paid within the next 12 months. Years Ended June 30, 2023 2022 Long service leave obligation expected to be settled after 12 months 19,503 13,753 |
Issued Capital (Tables)
Issued Capital (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Issued Capital [Abstract] | |
Schedule of Issued Capital | ISSUED CAPITAL Years Ended June 30, Notes 2023 2022 2021 (a) Issued Capital 2,439,897,618 (2022: 2,406,874,578) fully paid ordinary shares 10(b) 213,971,323 213,787,061 197,447,990 Nil (2022: Nil) options for fully paid ordinary shares 10(c) - - - 213,971,323 213,787,061 197,447,990 |
Schedule of Movements in Issued Shares | Movements in Issued Shares June 30, 2023 2022 2021 No. of shares A$ No. of shares A$ No. of shares A$ Beginning of the year 2,406,874,578 213,787,061 2,084,016,678 197,447,990 1,037,358,032 160,703,754 Movement during the year 33,023,040 184,262 322,857,900 16,339,071 1,046,658,646 36,744,236 End of the year 2,439,897,618 213,971,323 2,406,874,578 213,787,061 2,084,016,678 197,447,990 |
Schedule of Share Issuances | Details of share issuances are as follows: Date Details Notes Number Issue Price $ Year end June 30, 2020 176,520,600 4,071,118 July 2, 2020 Issue of shares under ATM Facility 47,646,000 0.033 1,562,055 October 23, 2020 Issue of shares to sophisticated and professional investors 271,251,007 0.037 10,036,287 November 24, 2020 Issue of shares to sophisticated and professional investors 674,694,939 0.037 24,963,713 February 11, 2021 Issue of shares under ATM Facility 53,066,700 0.050 2,674,831 June 30, 2021 Security issuance costs (2,492,650 ) Year end June 30, 2021 1,046,658,646 36,744,236 July 2, 2021 Issue of shares under ATM Facility 322,857,900 0.053 17,176,040 June 30, 2022 Security issuance costs (836,969 ) Year end June 30, 2022 322,857,900 16,339,071 September 21, 2022 Issue of shares under ATM Facility 9,543,840 0.0135 128,842 March 15, 2023 Issue of shares under ATM Facility 23,479,200 0.0080 187,834 June 30, 2023 Security issuance costs (132,413 ) Year end June 30, 2023 33,023,040 184,262 |
Reserves (Tables)
Reserves (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Reserves Table [abstract] | |
Schedule of Reserves of Share Based Payments | Years Ended June 30, Notes 2023 2022 2021 (a) Share Based Payments 170,042,720 (2022: 184,692,720, 2021: 160,542,720) options for fully paid ordinary shares 11(c) 3,972,475 3,565,918 2,750,884 3,972,475 3,565,918 2,750,884 Years Ended June 30, Notes 2023 2022 2021 (b) Warrants/Free-attaching options 674,694,939 free-attaching options (2022: 674,694,939 free-attaching options, 2021: 674,694,939) for fully paid ordinary shares (1) 11(c) - - - - - - 1. On November 24, 2020 as part of a two tranche placement to sophisticated and professional investors the Group issued a total of 674,694,939 free attaching warrants with an exercise price of A$0.07, expiring on November 23, 2023. These warrants were assessed to have immaterial value at the time of issue. |
Schedule of Movements in Options for Fully Paid Ordinary Shares | Movements in Options for Fully Paid Ordinary Shares Years Ended June 30, 2023 2022 2021 Number of (A$) Number of (A$) Number of (A$) Beginning of the year 184,692,720 3,565,918 160,542,720 2,750,884 21,550,000 866,121 Options issued during the year - - 45,150,000 - 140,392,720 - Expired during the year (13,150,000 ) (560,014 ) (7,000,000 ) (240,310 ) - - Forfeited during the year (1,500,000 ) (17,150 ) (14,000,000 ) (450,777 ) (1,400,000 ) (65,800 ) Share Based Payment expense - 983,721 - 1,506,121 - 1,950,563 End of the year 170,042,720 3,972,475 184,692,720 3,565,918 160,542,720 2,750,884 |
Accumulated Deficit During De_2
Accumulated Deficit During Development Stage (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Accumulated Deficit During Development Stage Table [abstract] | |
Schedule of Accumulated Deficit During Development Stage | Years Ended June 30, 2023 2022 2021 Balance at beginning of year 181,884,388 169,728,414 154,419,061 Net loss for the year 13,806,515 12,847,061 15,309,353 Reclassify expired options from reserves (560,014 ) (240,310 ) - Reclassify forfeited options from reserves - (450,777 ) - Balance at end of year 195,130,889 181,884,388 169,728,414 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Disclosure of Leases Text Block [Abstract] | |
Schedule of Financial Position Shows the Following Amounts Relating to Leases | The statement of financial position shows the following amounts relating to leases: Years Ended June 30, Right-of-use assets 2023 2022 2021 Right-of-use assets 207,087 115,971 65,495 Lease liabilities Current 107,177 57,632 27,746 Non-current 103,207 59,857 37,903 210,384 117,489 65,649 |
Schedule of Profit or Loss Shows the Following Amounts Relating to Leases | The statement of profit or loss shows the following amounts relating to leases: Years Ended June 30, 2023 2022 2021 Depreciation of right-of-use assets 64,409 36,366 56,707 Interest expense 4,565 2,285 1,299 Expenses relating to short-term leases (included in general and administration expenses) 68,634 79,309 87,131 Expenses relating to variable lease payments not included in lease liabilities (included in general and administration expenses) - - - |
Cash Flow Information (Tables)
Cash Flow Information (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Cash Flow Information [Abstract] | |
Schedule of Cash Flow Information | Years Ended June 30, 2023 2022 2021 (a) Reconciliation of Net Loss to Net Cash Flows Used In Operations Net loss (13,806,515 ) (12,847,061 ) (15,309,353 ) Non-cash items Depreciation of property and equipment 37,854 17,848 18,662 Depreciation on leased assets 64,409 36,366 56,707 Others - 61 (145 ) Share-based payment expenses 966,571 1,506,122 1,884,763 Foreign exchange (gain)/loss (917,650 ) (2,813,635 ) 426,782 Fixed Asset Write Off 10,232 - - Changes in assets and liabilities (Increase)/Decrease in trade and other receivables (3,940,343 ) (447,684 ) (4,216,356 ) (Increase)/Decrease in other current assets (968,207 ) (516,176 ) (517,617 ) Increase/(Decrease) in trade and other payables (1,560,873 ) 2,604,001 432,905 (Decrease) in other current liabilities - - - Increase/(Decrease) in provision for employee entitlements 78,685 122,884 (106,417 ) Net cash flows used in operating activities (20,035,837 ) (12,337,274 ) (17,330,069 ) (b) Reconciliation of Cash and Cash Equivalents Cash and cash equivalents balance comprises: - cash and cash equivalents on hand 15,773,783 34,806,799 28,115,516 Closing cash and cash equivalents balance 15,773,783 34,806,799 28,115,516 |
Share Based Payments (Tables)
Share Based Payments (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Share Based Payments [Abstract] | |
Schedule of Options Granted | Information with respect to the number of options granted under the 2004 ASX Plan and 2018 ADS Plan as follows: Years Ended June 30, 2023 2022 2021 Number of Options Weighted Number of Weighted Number of Weighted Beginning of the year 184,692,720 0.05 160,542,720 0.09 21,550,000 0.10 Issued during the year - - 45,150,000 0.04 140,392,720 0.05 Exercised during the year - - - - - - Expired during the year (13,150,000 ) 0.11 (7,000,000 ) 0.07 - Forfeited during the year (1,500,000 ) 0.02 (14,000,000 ) 0.09 (1,400,000 ) 0.11 Outstanding at year end 170,042,720 0.05 184,692,720 0.05 160,542,720 0.06 Vested and Exercisable at year end 87,280,755 0.06 60,150,000 0.09 69,150,000 0.09 |
Schedule of Options Outstanding | Options outstanding at the end of the year have the following expiry date and exercise prices: Series Grant Date Expiry Date Exercise Share options Share options $A 2023 2022 PBTAAA December 18, 2017 December 14, 2022 0.11 - 12,450,000 PBTAI February 1, 2018 January 31, 2023 0.08 - 700,000 ATHAAB September 18, 2020 September 17, 2025 0.09 35,000,000 35,000,000 ATHAAD January 7, 2021 January 6, 2026 0.03 91,392,720 91,392,720 ATHAAE November 29, 2021 November 29, 2026 0.04 19,250,000 19,250,000 ATHAAF July 31, 2021 July 31, 2024 0.07 12,000,000 12,000,000 ATHAAG November 21, 2021 November 29, 2026 0.02 12,400,000 13,900,000 Total 170,042,720 184,692,720 Weighted average remaining contractual life of options outstanding at end of period. 2.53 years 3.32 years |
Schedule of Valuations of Options Approved and Issued | The model inputs for the valuations of options approved and issued during the current and previous financial years are as follows: Series Grant Date Exercise Price Share Price Expected Share Years to Dividend Risk-free Fair Value A$ A$ A$ PBTAS June 7, 2017 0.07 0.05 100.00 % 5.00 0 % 1.97 % 0.034 PBTAAA December 18, 2017 0.11 0.07 100.00 % 5.00 0 % 2.38 % 0.047 PBTAI February 1, 2018 0.08 0.06 100.00 % 5.00 0 % 2.24 % 0.038 ATHAAB September 18, 2020 0.09 0.05 98.00 % 5.00 0 % 0.43 % 0.032 ATHAAD January 7, 2021 0.03 0.032 139.52 % 5.00 0 % 0.38 % 0.028 ATHAAE November 29, 2021 0.04 0.025 138.47 % 5.00 0 % 1.35 % 0.021 ATHAAF July 31, 2021 0.07 0.034 169.42 % 3.00 0 % 0.13 % 0.027 ATHAAG November 29, 2021 0.02 0.024 138.47 % 5.00 0 % 1.35 % 0.021 |
Schedule of Shares Issued under Stock Option Plan | Information with respect to the number of shares issued under the stock option plan as follows: Years Ended June 30, 2023 2022 2021 Number of Shares Number of Shares Number of Shares Beginning of the year 13,277,715 13,277,715 13,277,715 Issued during the year - - - End of the financial year 13,277,715 13,277,715 13,277,715 |
Loss Per Share (Tables)
Loss Per Share (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Loss Per Share [Abstract] | |
Schedule of Earning Loss Per Share | Years Ended June 30, 2023 2022 2021 Basic and diluted loss per share (cents per share) (0.57 ) (0.53 ) (0.90 ) Weighted average number of ordinary shares on issue used in the calculation of basic and diluted loss per share 2,427,841,917 2,405,990,036 1,696,576,324 |
Key Management Personnel Comp_2
Key Management Personnel Compensation (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Key Management Personnel Compensation [Abstract] | |
Schedule of Key Management Personnel Compensation | Years Ended June 30, 2023 2022 2021 Short-term employee benefits 1,727,020 1,641,015 1,891,777 Post-employment benefits 42,444 44,121 45,180 Long-term benefits 7,215 6,711 (110,285 ) Termination benefits - - 1,000,000 Share-based payments 764,175 998,164 1,950,565 2,540,854 2,690,011 4,777,237 |
Auditors' Remuneration (Tables)
Auditors' Remuneration (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Auditors' Remuneration [Abstract] | |
Schedule of Audit and Review of Financial Statements | Years Ended June 30, 2023 2022 2021 - Audit and review of financial statements (1) 246,400 216,400 202,400 - Other audit services (2) 52,000 - 130,000 298,400 216,400 332,400 1. Audit and review of financial statements consist of fees billed for assurance and related services that generally only the statutory auditor could reasonably provide to a client. 2. Included in the balance are amounts related to additional regulatory filings during the 2023 and 2021 financial years. All services provided are considered audit services for the purpose of SEC classification. |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Disclosure of transactions between related parties [Abstract] | |
Schedule of Directors Remuneration | Post-Employment Long Term Benefits 2023 Short Term Benefits Superannuation Long-service Termination Equity Base Fee Bonus Contribution Leave Benefit Options Total Directors’ remuneration A$ A$ A$ A$ A$ A$ A$ Mr. Geoffrey Kempler (2) 302,800 - 10,500 - - - 313,300 Mr. Brian Meltzer 63,348 - 6,652 - - - 70,000 Mr. Peter Marks 70,000 - - - - - 70,000 Mr. Lawrence Gozlan 70,000 - - - - - 70,000 506,148 - 17,152 - - - 523,300 Other key management personnel Dr. David Stamler (1) 731,381 194,570 - - - 724,047 1,649,998 Ms. Kathryn Andrews (1) 294,921 - 25,292 7,215 - 40,128 367,556 1,026,302 194,570 25,292 7,215 - 764,175 2,017,554 Total 1,532,450 194,570 42,444 7,215 - 764,175 2,540,854 (1) Base Fee includes movements in the annual leave provision for Ms. Kathryn Andrews and Dr. David Stamler in accordance with their employment contracts. (2) Includes A$202,800 in corporate advisory fees paid to an associated entity of Mr. Geoffrey Kempler for business advisory services including investor relations, marketing and business development. Post-Employment Long Term Benefits 2022 Short Term Benefits Superannuation Long-service Termination Equity Base Fee Bonus Contribution Leave Benefit Options Total Directors’ remuneration A$ A$ A$ A$ A$ A$ A$ Mr. Geoffrey Kempler (2) 377,800 - 10,000 - - - 387,800 Mr. Brian Meltzer 63,636 - 6,359 - - - 69,995 Mr. Peter Marks 70,000 - - - - - 70,000 Mr. Lawrence Gozlan (3) 107,500 - - - - - 107,500 Dr. David Sinclair (4) 34,888 - - - - - 34,888 Mr. Tristan Edwards (4) 31,819 - 4,194 - - - 36,013 685,643 - 20,553 - - - 706,196 Other key management personnel Dr. David Stamler (1) 658,393 - - - - 965,633 1,624,026 Ms. Kathryn Andrews (1) 296,979 - 23,568 6,711 - 32,531 359,789 955,372 - 23,568 6,711 - 998,164 1,983,815 Total 1,641,015 - 44,121 6,711 - 998,164 2,690,011 (1) Base Fee includes movements in the annual leave provision for Ms. Kathryn Andrews and Dr. David Stamler in accordance with their employment contracts. (2) Includes A$277,800 in corporate advisory fees paid to an associated entity of Mr. Geoffrey Kempler for business advisory services including investor relations, marketing and business development. (3) Includes A$37,500 in corporate advisory fees paid to an associated entity of Mr. Lawrence Gozlan for corporate advisory services including seeking and advancing opportunities to expand the Group’s product pipeline and other sources of funding to commence and continue the Group’s clinical trials. (4) David Sinclair and Tristan Edwards resigned on January 4, 2022. Post-Employment Long Term Benefits 2021 Short Term Benefits Superannuation Long-service Equity Base Fee Bonus Contribution Leave Termination Options Total Directors’ remuneration A$ A$ A$ A$ A$ A$ Mr. Geoffrey Kempler (2) 487,292 - 16,184 (121,542 ) 1,000,000 450,777 1,832,711 Mr. Brian Meltzer 66,209 - 6,290 - 225,389 297,888 Mr. Peter Marks 68,333 - - - 225,389 293,722 Mr. Lawrence Gozlan (3) 218,333 - - - 225,389 443,722 Dr. David Sinclair 65,800 - - - 225,389 291,189 Mr. Tristan Edwards 64,774 - 1,012 - 225,389 291,175 970,741 - 23,486 (121,542 ) 1,000,000 1,577,722 3,450,407 Other key management personnel Dr. David Stamler (1)(4) 606,058 - - - - 372,843 978,901 Ms. Kathryn Andrews (1) 314,978 - 21,694 11,257 - - 347,929 921,036 - 21,694 11,257 372,843 1,326,830 Total 1,891,777 - 45,180 (110,285 ) 1,000,000 1,950,565 4,777,237 (1) Base Fee includes movements in the annual leave provision for Ms. Kathryn Andrews and Dr. David Stamler in accordance with their employment contracts. (2) Upon termination of employment as Chief Executive Officer on January 7, 2021 Mr. Geoffrey Kempler received the sum of A$1 million in accordance with his employment agreement dated September 21, 2007 and accrued leave entitlements. His remuneration includes A$102,361 in corporate advisory fees paid to an associated entity of Mr. Geoffrey Kempler for business advisory services including investor relations, marketing and business development. (3) Includes A$150,000 in corporate advisory fees paid to an associated entity of Mr. Lawrence Gozlan for corporate advisory services including seeking and advancing opportunities to expand the Group’s product pipeline and other sources of funding to commence and continue the Group’s clinical trials. (4) Remuneration of Dr. David Stamler covered his previous role as Chief Medical Officer and Senior Vice President Clinical Development from July 1, 2020 to January 6. 2021 and CEO effective January 7, 2021. |
Schedule of Key Management Personnel Equity Holdings | Key Management Personnel Equity Holdings Balance Received as Received on Net Change Balance Fully Paid Ordinary Shares of the Group No. No. No. No. No. Mr. Geoffrey Kempler 18,011,000 - - - 18,011,000 Mr. Lawrence Gozlan - - - - - Mr. Brian Meltzer 326,666 - - - 326,666 Mr. Peter Marks 43,111 - - - 43,111 Ms. Kathryn Andrews - - - - - Dr. David Stamler - - - 3,555,000 3,555,000 18,380,777 - - 3,555,000 21,935,777 Balance Received as Received on Net Change Balance Fully Paid Ordinary Shares of the Group No. No. No. No. No. Mr. Geoffrey Kempler 18,011,000 - - - 18,011,000 Mr. Lawrence Gozlan - - - - - Mr. Brian Meltzer 326,666 - - - 326,666 Mr. Peter Marks 43,111 - - - 43,111 Dr. David Sinclair (1) - - - - - Mr. Tristan Edwards (1) - - - - - Ms. Kathryn Andrews - - - - - Dr. David Stamler - - - - - 18,380,777 - - - 18,380,777 (1) David Sinclair and Tristan Edwards resigned on January 4, 2022. Balance Received as Received on Net Change Balance Fully Paid Ordinary Shares of the Group No. No. No. No. No. Mr. Geoffrey Kempler 18,011,000 - - - 18,011,000 Mr. Lawrence Gozlan - - - - - Mr. Brian Meltzer 326,666 - - - 326,666 Mr. Peter Marks 43,111 - - - 43,111 Dr. David Sinclair - - - - - Mr. Tristan Edwards - - - - - Ms. Kathryn Andrews - - - - - Dr. David Stamler - - - - - 18,380,777 - - - 18,380,777 |
Schedule of Share Options of The Company | Share Options of the Group Balance Granted as Remuneration Options Exercised Options Expired Options Forfeited Net Change Options Vested During the year Balance Total Vested and Exercisable Total Unvested Mr. Geoffrey Kempler 19,000,000 - - (5,000,000 ) - - - 14,000,000 14,000,000 - Mr. Lawrence Gozlan 8,250,000 - - (1,250,000 ) - - - 7,000,000 7,000,000 - Mr. Brian Meltzer 8,250,000 - - (1,250,000 ) - - - 7,000,000 7,000,000 - Mr. Peter Marks 8,250,000 - - (1,250,000 ) - - - 7,000,000 7,000,000 - Ms. Kathryn Andrews 5,000,000 - - - - - - 5,000,000 1,250,000 3,750,000 Dr. David Stamler 91,392,720 - - - - - - 91,392,720 32,368,255 59,024,465 140,142,720 - - (8,750,000 ) - - - 131,392,720 68,618,255 62,774,465 Share Options of the Group Balance Granted as Remuneration Options Exercised Options Expired Options Forfeited Net Change Options Vested During the year Balance Total Total Mr. Geoffrey Kempler 19,000,000 - - - - - - 19,000,000 19,000,000 - Mr. Lawrence Gozlan 8,250,000 - - - - - - 8,250,000 8,250,000 - Mr. Brian Meltzer 8,250,000 - - - - - - 8,250,000 8,250,000 - Mr. Peter Marks 8,250,000 - - - - - - 8,250,000 8,250,000 - Dr. David Sinclair (1) 7,000,000 - - - (7,000,000 ) - - - - - Mr. Tristan Edwards (1) 7,000,000 - - - (7,000,000 ) - - - - - Ms. Kathryn Andrews 500,000 5,000,000 - (500,000 ) - - - 5,000,000 - 5,000,000 Dr. David Stamler 95,392,720 - - (4,000,000 ) - - - 91,392,720 - 91,392,720 153,642,720 5,000,000 - (4,500,000 ) (14,000,000 ) - - 140,142,720 43,750,000 96,392,720 (1) David Sinclair and Tristan Edwards resigned on January 4, 2022. Share Options of the Group Balance Granted as Remuneration Options Exercised Options Expired Options Forfeited Net Change Options Vested During the year Balance Total Total Mr. Geoffrey Kempler 5,000,000 14,000,000 - - - - 14,000,000 19,000,000 19,000,000 - Mr. Lawrence Gozlan 1,250,000 7,000,000 - - - - 7,000,000 8,250,000 8,250,000 - Mr. Brian Meltzer 1,250,000 7,000,000 - - - - 7,000,000 8,250,000 8,250,000 - Mr. Peter Marks 1,250,000 7,000,000 - - - - 7,000,000 8,250,000 8,250,000 - Dr. David Sinclair - 7,000,000 - - - - 7,000,000 7,000,000 7,000,000 - Mr. Tristan Edwards - 7,000,000 - - - - 7,000,000 7,000,000 7,000,000 - Ms. Kathryn Andrews 500,000 - - - - - - 500,000 500,000 - Dr. David Stamler 4,000,000 91,392,720 - - - - - 95,392,720 4,000,000 91,392,720 13,250,000 140,392,720 - - - - 49,000,000 153,642,720 62,250,000 91,392,720 |
Financial Instruments (Tables)
Financial Instruments (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Financial Instruments [Abstract] | |
Schedule of Financial Assets and Liabilities Subject to Foreign Currency Risk | The following financial assets and liabilities are subject to foreign currency risk, the currency of the original amounts are displayed in brackets, all the amounts in the table below are displayed in A$ at year-end spot rates: Consolidated Entity 2023 2022 A$ A$ Cash and cash equivalents (USD) 15,473,231 29,361,393 Cash and cash equivalents (€EUR) - - Cash and cash equivalents (£GBP) - 423 Trade and other payables (USD) (1,611,223 ) (2,088,037 ) Trade and other payables (€EUR) - - Trade and other payables (£GBP) (17,444 ) (102,637 ) Total exposure 13,844,564 27,171,142 |
Schedule of Interest Rates and the Effective Weighted Average Interest Rate for Classes of Financial Assets and Liabilities | The Group’s exposure to interest rates and the effective weighted average interest rate for classes of financial assets and liabilities is set out below: June 30, 2023 Floating Fixed Interest Non-Interest Total Average 1 year 1-5 years Financial Assets Cash and cash equivalents 27,457 192,713 - 15,553,613 15,773,783 0.050 % Trade and other receivables - - - 8,665,704 8,665,704 Other current assets - 29,150 - - - 4.4 % Total Financial Assets 27,457 192,713 - 24,219,317 24,439,487 Financial Liabilities Trade and other payables - - - (3,517,708 ) (3,517,708 ) Lease liabilities - (107,177 ) (103,207 ) - (210,384 ) Total Financial Liabilities - (107,177 ) (103,207 ) (3,517,708 ) (3,728,092 ) June 30, 2022 Floating Fixed Interest Non-Interest Total Average 1 year 1-5 years Financial Assets Cash and cash equivalents 4,863,883 192,713 - 29,750,203 34,806,799 0.002 % Trade and other receivables - - - 4,725,361 4,725,361 Total Financial Assets 4,863,883 192,713 - 34,475,564 39,532,160 0.002 % Financial Liabilities Trade and other payables - - - (5,106,511 ) (5,106,511 ) Lease liabilities - (57,632 ) (59,857 ) - (117,489 ) Total Financial Liabilities - (57,632 ) (59,857 ) (5,106,511 ) (5,224,000 ) |
Schedule of Company's Liquidity Reserve On The Basis of Expected Cash Flows | Management monitors rolling forecasts of the Group’s liquidity reserve on the basis of expected cash flows. See Note 1 (Going Concern Basis) of our accompanying financial statements. Maturities of Financial Liabilities 2023 Less than 6-12 Greater Total Carrying Trade and other payables (3,517,708 ) - - (3,517,708 ) (3,517,708 ) Lease liabilities (53,589 ) (53,588 ) (103,207 ) (210,384 ) (210,384 ) Total (3,571,297 ) (53,588 ) (103,207 ) (3,728,092 ) (3,728,092 ) 2022 Less than 6-12 Greater Total Carrying Trade and other payables (5,106,511 ) - - (5,106,511 ) (5,106,511 ) Lease liabilities (57,746 ) - (59,857 ) (117,489 ) (117,489 ) Total (5,164,143 ) - (59,857 ) (5,224,000 ) (5,224,000 ) |
Parent Entity Financial Infor_2
Parent Entity Financial Information (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Background and Summary of Significant Accounting Policies [Abstract] | |
Schedule of Individual Financial Statements for the Parent Company | The individual financial statements for the parent entity show the following aggregate amounts: June 30, 2023 2022 Statement of financial position Current Assets 27,048,773 41,144,089 Non-current Assets 229,103 137,128 Total assets 27,277,876 41,281,217 Current liabilities (4,993,949 ) (6,270,879 ) Non-current liabilities (122,710 ) (32,450 ) Total liabilities (5,116,659 ) (6,303,329 ) Shareholders’ equity Contributed equity 213,971,323 213,787,061 Reserves 3,972,475 3,565,918 Accumulated losses (195,782,581 ) (182,375,091 ) Total equity 22,161,217 34,977,888 Statement of profit or loss and other comprehensive income Loss for the year (13,967,504 ) (13,019,855 ) Total comprehensive loss for the year (13,967,504 ) (13,019,855 ) |
Background and Summary of Sig_3
Background and Summary of Significant Accounting Policies (Details) - AUD ($) | 12 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2021 | |
Background and Summary of Significant Accounting Policies (Details) [Line Items] | |||
Tax rate change tax rate, description | A 43.5% refundable tax offset will be available to eligible small companies with an annual aggregate turnover of less than $20 million. | ||
Other income | $ 3,900,000 | $ 4,700,000 | $ 4,100,000 |
Operating loss | 13,806,515 | 12,847,061 | |
operating cash outflow | $ 20,035,837 | $ 12,337,274 | |
Employees,description | EmployeesThe issuance of share-based payments to employees may be subject to shareholder approval per ASX Listing Rule 7.1 which prohibits the issuance of more than 15% of the Group’s shares in a 12 month period without shareholder approval. The measurement date for share-based payments issued to employees is the grant date, being the date at which a shared understanding of the terms and conditions of the arrangement is reached. However, if an issuance to an employee is subject to shareholder approval because it exceeds the 15% threshold per ASX Listing Rule 7.1, then the measurement date of these share-based payments is the date at which the share-based payments are approved by shareholders. | ||
Minimum [Member] | |||
Background and Summary of Significant Accounting Policies (Details) [Line Items] | |||
Estimated useful life | 3 years | ||
Maximum [Member] | |||
Background and Summary of Significant Accounting Policies (Details) [Line Items] | |||
Estimated useful life | 20 years |
Background and Summary of Sig_4
Background and Summary of Significant Accounting Policies (Details) - Schedule of Estimated Useful Lives | 12 Months Ended |
Jun. 30, 2022 | |
Furniture and fittings [Member] | Bottom of range [member] | |
Background and Summary of Significant Accounting Policies (Details) - Schedule of Estimated Useful Lives [Line Items] | |
Estimated useful lives of property and equipment | 5% |
Furniture and fittings [Member] | Top of range [member] | |
Background and Summary of Significant Accounting Policies (Details) - Schedule of Estimated Useful Lives [Line Items] | |
Estimated useful lives of property and equipment | 33% |
Computer equipment [Member] | |
Background and Summary of Significant Accounting Policies (Details) - Schedule of Estimated Useful Lives [Line Items] | |
Estimated useful lives of property and equipment | 33% |
Plant and equipment [Member] | Bottom of range [member] | |
Background and Summary of Significant Accounting Policies (Details) - Schedule of Estimated Useful Lives [Line Items] | |
Estimated useful lives of property and equipment | 10% |
Plant and equipment [Member] | Top of range [member] | |
Background and Summary of Significant Accounting Policies (Details) - Schedule of Estimated Useful Lives [Line Items] | |
Estimated useful lives of property and equipment | 33% |
Leasehold improvements [Member] | |
Background and Summary of Significant Accounting Policies (Details) - Schedule of Estimated Useful Lives [Line Items] | |
Estimated useful lives of property and equipment | 33% |
Interest and Other Income fro_3
Interest and Other Income from Continuing Operations (Details) - AUD ($) | 12 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2021 | |
Interest and Other Income from Continuing Operations [Abstract] | |||
Refundable tax offset rate | 43.50% | ||
Annual aggregate turnover | $ 20,000,000 | ||
Other income | $ 3,914,230 | $ 4,669,405 | $ 4,126,364 |
Interest and Other Income fro_4
Interest and Other Income from Continuing Operations (Details) - Schedule of Interest and Other Income from Continuing Operations - AUD ($) | 12 Months Ended | |||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2021 | ||
Interest income | ||||
Interest income | $ 16,436 | $ 2,504 | $ 20,676 | |
Total interest income | 16,436 | 2,504 | 20,676 | |
Other income | ||||
R&D Tax Incentive | [1] | 3,914,230 | 4,669,405 | 4,126,364 |
COVID-19 relief | [2] | 145,626 | ||
Other grant | [3] | 454,120 | 213,235 | |
Miscellaneous Income | 2,103 | |||
Total other income | 3,916,333 | 5,123,525 | 4,485,225 | |
Total interest and other income from continuing operations | $ 3,932,769 | $ 5,126,029 | $ 4,505,901 | |
[1] A 43.5% R&D Tax incentive refundable tax offset, will be available to eligible small companies with an annual aggregate turnover of less than $20 million. For the years ended June 30, 2023, June 30, 2022 and June 30, 2021, the Group is eligible to receive the refundable tax offset, the management with input from an independent expert, has applied judgement when assessing activities and expenditures that are likely to be eligible under the incentive scheme and therefore recorded $3,914,230, $4,669,405 and $4,126,364 in other income, respectively. The COVID-19 relief relates to government assistance received during the year, from the Australian Governments (at both federal and state level), in response to the economic and financial challenges in the current economy. This COVID-19 relief consists of the eligible cash flow boost grants and state level payroll tax refund and waivers. The Group has recognised this relief as part of government grants in line with IAS 20. Other grant relates to the receipt of grant funding awarded by Michael J. Fox Foundation for Parkinson’s Research during the year ended June 30, 2022 and June 30, 2021. |
Expenses from Ordinary Activi_3
Expenses from Ordinary Activities (Details) - Schedule of Expenses from Ordinary Activities - AUD ($) | 12 Months Ended | |||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2021 | ||
Research and Development Expenses (1) | ||||
Employee expenses | [1] | $ 2,720,345 | $ 2,517,516 | $ 2,169,420 |
Other research and development expenses | 10,478,238 | 12,228,260 | 10,114,428 | |
General and Administration Expenses | ||||
Depreciation on fixed assets | 37,854 | 17,848 | 18,662 | |
Depreciation on leased assets | 64,409 | 36,366 | 56,707 | |
Employee expenses (non R&D related) | 926,314 | 705,541 | 1,556,078 | |
Consultant and director expenses | 320,500 | 390,896 | 852,369 | |
Audit, internal control and other assurance expenses | 238,728 | 220,798 | 220,198 | |
Corporate compliance expenses | 457,215 | 401,741 | 692,895 | |
Insurance expenses | 721,732 | 655,990 | 531,877 | |
Office rental | 68,634 | 79,329 | 87,612 | |
Other administrative and office expenses | 1,032,843 | 911,347 | 718,520 | |
Share based payment expenses | 966,571 | 1,506,122 | 1,950,563 | |
Corporate advisory expenses | 204,621 | 587,937 | 252,361 | |
Other gains and losses | ||||
Foreign exchange (gain)/loss | $ (917,650) | $ (2,722,430) | $ 297,111 | |
[1] Research and development expenses mainly consist of expenses paid for contracted research and development activities conducted by third parties on behalf of the Group. |
Income Tax (Details)
Income Tax (Details) - AUD ($) | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Income Tax [Abstract] | ||
Potential tax benefit amount | $ 164,311,376 | $ 153,026,530 |
Non-refundable tax | $ 2,976,920 | $ 2,976,920 |
Income Tax (Details) - Schedule
Income Tax (Details) - Schedule of Income Tax - AUD ($) | 12 Months Ended | |||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2021 | ||
(a) Income tax expense: | ||||
Current tax | $ 33,808 | $ 50,072 | ||
Adjustment for current tax of prior periods | 70,651 | 19,936 | ||
Deferred tax | ||||
(b) Numerical reconciliation of income tax expense to prima facie tax payable: | ||||
Prima facie tax on net loss before income tax at 25% (2022: 25%, 2021: 26%) | (3,446,718) | (3,194,263) | (3,980,432) | |
Effect of lower tax rates of tax on overseas income | (6,440) | (9,712) | (11,344) | |
Add tax effect of: | ||||
Under/(Over) provision of income tax in previous year relating to a revision of estimates | 70,651 | 19,936 | ||
Research and development expenditure (net of tax incentive) | 1,267,940 | 1,516,215 | 1,393,478 | |
Research and development tax offset | [1] | (2,976,920) | ||
Adjustments for current tax of prior periods | [1] | 1,764,370 | ||
Other | 413,976 | 529,075 | 628,535 | |
Deferred tax asset not recognised | 1,805,050 | 1,208,757 | 3,182,313 | |
Income tax expense attributable to loss before income tax | 104,459 | 70,008 | ||
(c) Potential deferred tax asset as of June 30, 2023, 2022 and 2021 in respect of: tax losses not brought to account is | [1],[2] | 44,056,899 | 41,204,149 | 41,223,341 |
Temporary differences | $ 3,675,742 | $ 2,903,797 | $ 4,549,151 | |
[1] As of June 30, 2023, the Group had a potential tax benefit related to gross tax losses carried forward of $164,311,376 (2022: $153,026,530) and a non-refundable R&D tax offset of $2,976,920 (2022: $2,976,920). The non-refundable tax offset and the adjustment for current tax of prior periods in 2021 relates to the 2020 R&D tax incentive claim which was submitted in 2021. Unused tax loss amounts are only attributable to the Group’s operations in Australia, as the subsidiary in the United States has no carryforward tax losses as of June 30, 2023. Tax losses can be carried forward indefinitely subject to continuity of ownership and same business test rules. |
Income Tax (Details) - Schedu_2
Income Tax (Details) - Schedule of Income Tax (Parentheticals) | 12 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2021 | |
Schedule of Income Tax [Abstract] | |||
Prima facie tax on net loss before income tax | 25% | 25% | 26% |
Trade and Other Receivables (De
Trade and Other Receivables (Details) | Aug. 15, 2023 USD ($) |
Subsequent Events [Member] | |
Trade and Other Receivables (Details) [Line Items] | |
Tax incentive | $ 4,725,361 |
Trade and Other Receivables (_2
Trade and Other Receivables (Details) - Schedule of Trade and Other Receivables - AUD ($) | 12 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | ||
Schedule of Trade and Other Receivables [Abstract] | |||
Accrued interest income | $ 656 | $ 18 | |
R&D tax incentive receivable | [1] | 8,583,635 | 4,669,405 |
Goods and services tax receivable | 16,184 | 55,938 | |
Accounts receivable | 65,229 | ||
Total Trade and Other Receivables | $ 8,665,704 | $ 4,725,361 | |
[1]Subsequent to the end of the period, on 15 August 2023 $4,725,361, representing the R&D tax incentive for the 2022 year was received. |
Other Current Assets (Details)
Other Current Assets (Details) - Schedule of Other Current Assets - AUD ($) | Jun. 30, 2023 | Jun. 30, 2022 |
Schedule of Other Current Assets [Abstract] | ||
Prepayments | $ 2,569,522 | $ 1,601,697 |
Other | 39,764 | 10,232 |
Total | $ 2,609,286 | $ 1,611,929 |
Trade and Other Payables (Detai
Trade and Other Payables (Details) - Schedule of Trade and Other Payables - AUD ($) | Jun. 30, 2023 | Jun. 30, 2022 |
Schedule of Trade and Other Payables [Abstract] | ||
Trade creditors | $ 1,716,135 | $ 2,689,098 |
Accrued research and development expenses | 1,458,310 | 2,066,500 |
Accrued professional fees | 222,126 | 185,362 |
Other accrued expenses | 87,223 | 107,929 |
Other payables | 33,914 | 57,622 |
Total | $ 3,517,708 | $ 5,106,511 |
Provisions (Details) - Schedule
Provisions (Details) - Schedule of Provisions - AUD ($) | Jun. 30, 2023 | Jun. 30, 2022 | |
Current | |||
Current | $ 729,202 | $ 656,267 | |
Non-Current | |||
Non-Current | 19,503 | 13,753 | |
Annual Leave [Member] | |||
Current | |||
Current | [1] | 420,380 | 371,877 |
Long Service Leave [Member] | |||
Current | |||
Current | [1],[2] | 308,822 | 284,390 |
Non-Current | |||
Non-Current | [2] | $ 19,503 | $ 13,753 |
[1]Movements in provisions[2]Amounts not expected to be settled within the next 12 months |
Provisions (Details) - Schedu_2
Provisions (Details) - Schedule of Movements in Provisions - AUD ($) | 12 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2021 | |
Provisions (Details) - Schedule of Movements in Provisions [Line Items] | |||
TOTAL | $ 748,705 | $ 670,020 | $ 547,136 |
Annual Leave [Member] | |||
Provisions (Details) - Schedule of Movements in Provisions [Line Items] | |||
Carrying amount at start of year | 371,877 | 273,876 | 285,360 |
Charged/(credited) to profit or loss -additional provisions recognised | 272,502 | 242,532 | 231,981 |
Amounts used during the year | (232,747) | (158,968) | (231,061) |
Change in foreign exchange | 8,748 | 14,437 | (12,404) |
Carrying amount at end of year | 420,380 | 371,877 | 273,876 |
Long Service Leave [Member] | |||
Provisions (Details) - Schedule of Movements in Provisions [Line Items] | |||
Carrying amount at start of year | 298,143 | 273,260 | 368,193 |
Charged/(credited) to profit or loss -additional provisions recognised | 30,182 | 25,210 | 31,725 |
Amounts used during the year | (327) | (126,658) | |
Carrying amount at end of year | $ 328,325 | $ 298,143 | $ 273,260 |
Provisions (Details) - Schedu_3
Provisions (Details) - Schedule of Amounts not Expected to be Settled within the Next 12 Months - AUD ($) | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Schedule of Amounts not Expected to be Settled within the Next 12 Months [Abstract] | ||
Long service leave obligation expected to be settled after 12 months | $ 19,503 | $ 13,753 |
Commitments and Contingencies (
Commitments and Contingencies (Details) | 12 Months Ended |
Jun. 30, 2023 AUD ($) | |
Commitments and Contingencies [Abstract] | |
Other income | $ 3,363,433 |
Issued Capital (Details) - Sche
Issued Capital (Details) - Schedule of Issued Capital - AUD ($) | 12 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2021 | |
(a) Issued Capital | |||
2,439,897,618 (2022: 2,406,874,578) fully paid ordinary shares | $ 213,971,323 | $ 213,787,061 | $ 197,447,990 |
Nil (2022: Nil) options for fully paid ordinary shares | |||
Issued Capital | $ 213,971,323 | $ 213,787,061 | $ 197,447,990 |
Issued Capital (Details) - Sc_2
Issued Capital (Details) - Schedule of Issued Capital (Parentheticals) - shares | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Schedule of Issued Capital [Abstract] | ||
Paid ordinary shares | 2,439,897,618 | 2,406,874,578 |
Options for fully paid ordinary shares |
Issued Capital (Details) - Sc_3
Issued Capital (Details) - Schedule of Movements in Issued Shares - Ordinary Shares [Member] - AUD ($) | 12 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2021 | |
Issued Capital (Details) - Schedule of Movements in Issued Shares [Line Items] | |||
Beginning of the year, No. of shares | 2,406,874,578 | 2,084,016,678 | 1,037,358,032 |
Beginning of the year | $ 213,787,061 | $ 197,447,990 | $ 160,703,754 |
Movement during the year, No. of shares | 33,023,040 | 322,857,900 | 1,046,658,646 |
Movement during the year | $ 184,262 | $ 16,339,071 | $ 36,744,236 |
End of the year, No. of shares | 2,439,897,618 | 2,406,874,578 | 2,084,016,678 |
End of the year | $ 213,971,323 | $ 213,787,061 | $ 197,447,990 |
Issued Capital (Details) - Sc_4
Issued Capital (Details) - Schedule of Share Issuances - Ordinary Shares [Member] - AUD ($) | 12 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2021 | |
Issued Capital (Details) - Schedule of Share Issuances [Line Items] | |||
Number, Beginning (in Shares) | 322,857,900 | 1,046,658,646 | 176,520,600 |
Amount, Beginning | $ 16,339,071 | $ 36,744,236 | $ 4,071,118 |
Number, Ending (in Shares) | 33,023,040 | 322,857,900 | 1,046,658,646 |
Amount, Ending | $ 184,262 | $ 16,339,071 | $ 36,744,236 |
July 2, 2020 [Member] | |||
Issued Capital (Details) - Schedule of Share Issuances [Line Items] | |||
Number of shares issued during the year | Issue of shares under ATM Facility | ||
Number (in Shares) | 47,646,000 | ||
Issue Price (in Dollars per share) | $ 0.033 | ||
Amount | $ 1,562,055 | ||
October 23, 2020 [Member] | |||
Issued Capital (Details) - Schedule of Share Issuances [Line Items] | |||
Number of shares issued during the year | Issue of shares to sophisticated and professional investors | ||
Number (in Shares) | 271,251,007 | ||
Issue Price (in Dollars per share) | $ 0.037 | ||
Amount | $ 10,036,287 | ||
November 24, 2020 [Member] | |||
Issued Capital (Details) - Schedule of Share Issuances [Line Items] | |||
Number of shares issued during the year | Issue of shares to sophisticated and professional investors | ||
Number (in Shares) | 674,694,939 | ||
Issue Price (in Dollars per share) | $ 0.037 | ||
Amount | $ 24,963,713 | ||
February 11, 2021 [Member] | |||
Issued Capital (Details) - Schedule of Share Issuances [Line Items] | |||
Number of shares issued during the year | Issue of shares under ATM Facility | ||
Number (in Shares) | 53,066,700 | ||
Issue Price (in Dollars per share) | $ 0.05 | ||
Amount | $ 2,674,831 | ||
June 30,2021 [Member] | |||
Issued Capital (Details) - Schedule of Share Issuances [Line Items] | |||
Number of shares issued during the year | Security issuance costs | ||
Amount | $ (2,492,650) | ||
July 2, 2021 [Member] | |||
Issued Capital (Details) - Schedule of Share Issuances [Line Items] | |||
Number of shares issued during the year | Issue of shares under ATM Facility | ||
Number (in Shares) | 322,857,900 | ||
Issue Price (in Dollars per share) | $ 0.053 | ||
Amount | $ 17,176,040 | ||
June 30, 2022 [Member] | |||
Issued Capital (Details) - Schedule of Share Issuances [Line Items] | |||
Number of shares issued during the year | Security issuance costs | ||
Amount | $ (836,969) | ||
September 21, 2022 [Member] | |||
Issued Capital (Details) - Schedule of Share Issuances [Line Items] | |||
Number of shares issued during the year | Issue of shares under ATM Facility | ||
Number (in Shares) | 9,543,840 | ||
Issue Price (in Dollars per share) | $ 0.0135 | ||
Amount | $ 128,842 | ||
March 15, 2023 [Member] | |||
Issued Capital (Details) - Schedule of Share Issuances [Line Items] | |||
Number of shares issued during the year | Issue of shares under ATM Facility | ||
Number (in Shares) | 23,479,200 | ||
Issue Price (in Dollars per share) | $ 0.008 | ||
Amount | $ 187,834 | ||
June 30, 2023 [Member] | |||
Issued Capital (Details) - Schedule of Share Issuances [Line Items] | |||
Number of shares issued during the year | Security issuance costs | ||
Amount | $ (132,413) |
Reserves (Details)
Reserves (Details) | 1 Months Ended | 12 Months Ended | |||||||||||
Apr. 03, 2023 shares | Dec. 14, 2022 shares | Jun. 06, 2022 shares | Jan. 04, 2022 shares | Dec. 08, 2021 $ / shares | Jan. 31, 2023 shares | Apr. 20, 2021 $ / shares | Mar. 31, 2021 shares | Nov. 24, 2020 $ / shares shares | Sep. 18, 2020 $ / shares | Jun. 30, 2023 shares | Jun. 30, 2022 shares | Jun. 30, 2021 shares | |
Reserves (Details) [Line Items] | |||||||||||||
Options forfeited shares (in Shares) | shares | 14,000,000 | ||||||||||||
Option expired shares (in Shares) | shares | 12,450,000 | ||||||||||||
Reserve of ordinary shares (in Shares) | shares | 600 | ||||||||||||
Options for fully paid ordinary shares/warrants [Member] | |||||||||||||
Reserves (Details) [Line Items] | |||||||||||||
Option expired shares (in Shares) | shares | 7,000,000 | 700,000 | |||||||||||
2018 ADS Plan [Member] | |||||||||||||
Reserves (Details) [Line Items] | |||||||||||||
Fair value per option | $ 0.021 | ||||||||||||
Expired term | Nov. 29, 2026 | ||||||||||||
Number of share options issued | 13,900,000 | ||||||||||||
Exercise price per option | $ 0.0238 | ||||||||||||
2004 ASX Plan [Member] | |||||||||||||
Reserves (Details) [Line Items] | |||||||||||||
Fair value per option | $ 0.021 | ||||||||||||
Expired term | Nov. 29, 2026 | ||||||||||||
Number of share options issued | 19,250,000 | ||||||||||||
Exercise price per option | $ 0.0375 | ||||||||||||
Directors and Employees [Member] | Options for fully paid ordinary shares/warrants [Member] | |||||||||||||
Reserves (Details) [Line Items] | |||||||||||||
Number of free-attaching options issued (in Shares) | shares | 674,694,939 | ||||||||||||
Fair value per option | $ 0.07 | ||||||||||||
Expired term | Nov. 23, 2023 | ||||||||||||
Directors [Member] | |||||||||||||
Reserves (Details) [Line Items] | |||||||||||||
Fair value per option | $ 0.032 | ||||||||||||
Expired term | Sep. 17, 2025 | ||||||||||||
Number of share options issued | 49,000,000 | ||||||||||||
Exercise price per option | $ 0.09 | ||||||||||||
Number of share options forfeited (in Shares) | shares | (14,000,000) | ||||||||||||
Employee [Member] | Options for fully paid ordinary shares/warrants [Member] | |||||||||||||
Reserves (Details) [Line Items] | |||||||||||||
Number of share options forfeited (in Shares) | shares | 1,400,000 | ||||||||||||
Options forfeited shares (in Shares) | shares | 1,500,000 | ||||||||||||
Chief Executive Office [Memebr] | |||||||||||||
Reserves (Details) [Line Items] | |||||||||||||
Number of share options issued | 91,392,720 | ||||||||||||
Exercise price per option | $ 0.032 | ||||||||||||
Chief Executive Office [Memebr] | |||||||||||||
Reserves (Details) [Line Items] | |||||||||||||
Fair value per option | $ 0.028 | ||||||||||||
Expired term | Jan. 06, 2026 | ||||||||||||
Consultant [Member] | |||||||||||||
Reserves (Details) [Line Items] | |||||||||||||
Fair value per option | $ 0.027 | ||||||||||||
Expired term | Jul. 31, 2024 | ||||||||||||
Number of share options issued | 12,000,000 | ||||||||||||
Exercise price per option | $ 0.07 |
Reserves (Details) - Schedule o
Reserves (Details) - Schedule of Reserves of Share Based Payments | Jun. 30, 2023 AUD ($) | Jun. 30, 2023 USD ($) | Jun. 30, 2022 AUD ($) | Jun. 30, 2022 USD ($) | Jun. 30, 2021 AUD ($) | Jun. 30, 2021 USD ($) | Jun. 30, 2020 AUD ($) | |
Schedule of Reserves of Share Based Payments [Abstract] | ||||||||
Reserve of share-based payments | $ 3,972,475 | $ 3,972,475 | $ 3,565,918 | $ 3,565,918 | $ 2,750,884 | $ 2,750,884 | $ 866,121 | |
Reserve of Free-attaching options | ||||||||
Reserve of Share Based Payments for Warrants/Free-attaching options [Member] | ||||||||
Schedule of Reserves of Share Based Payments [Abstract] | ||||||||
Reserve of share-based payments | 3,972,475 | 3,565,918 | 2,750,884 | |||||
Reserve of Free-attaching options | [1] | |||||||
[1]On November 24, 2020 as part of a two tranche placement to sophisticated and professional investors the Group issued a total of 674,694,939 free attaching warrants with an exercise price of A$0.07, expiring on November 23, 2023. |
Reserves (Details) - Schedule_2
Reserves (Details) - Schedule of Reserves of Share Based Payments (Parentheticals) - shares | 12 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2021 | |
Schedule of Reserves of Share Based Payments [Abstract] | |||
Options for fully paid ordinary shares | 170,042,720 | 184,692,720 | 160,542,720 |
Free-attaching options for fully paid ordinary shares | 674,694,939 | 674,694,939 | 674,694,939 |
Reserves (Details) - Schedule_3
Reserves (Details) - Schedule of Movements in Options for Fully Paid Ordinary Shares | 12 Months Ended | |||||
Jun. 30, 2023 AUD ($) shares | Jun. 30, 2023 USD ($) shares | Jun. 30, 2022 AUD ($) shares | Jun. 30, 2022 USD ($) shares | Jun. 30, 2021 AUD ($) shares | Jun. 30, 2021 USD ($) shares | |
Schedule Of Movements In Options For Fully Paid Ordinary Shares Abstract | ||||||
Number of Options, Beginning of the year | 184,692,720 | 184,692,720 | 160,542,720 | 160,542,720 | 21,550,000 | 21,550,000 |
Beginning of the year | $ 3,565,918 | $ 3,565,918 | $ 2,750,884 | $ 2,750,884 | $ 866,121 | |
Number of Options , Options issued during the year | 45,150,000 | 45,150,000 | 140,392,720 | 140,392,720 | ||
Options issued during the year | $ | ||||||
Number of Options, Options expired during the year | (13,150,000) | (13,150,000) | (7,000,000) | (7,000,000) | ||
Expired during the year | $ | $ (560,014) | $ (240,310) | ||||
Number of Options, Forfeited during the year | (1,500,000) | (1,500,000) | (14,000,000) | (14,000,000) | (1,400,000) | (1,400,000) |
Forfeited during the year | $ | $ (17,150) | $ (450,777) | $ (65,800) | |||
Number of Options, Share Based Payment expense | ||||||
Share Based Payment expense | $ | $ 983,721 | $ 1,506,121 | $ 1,950,563 | |||
Number of Options, End of the year | 170,042,720 | 170,042,720 | 184,692,720 | 184,692,720 | 160,542,720 | 160,542,720 |
End of the year | $ 3,972,475 | $ 3,972,475 | $ 3,565,918 | $ 3,565,918 | $ 2,750,884 | $ 2,750,884 |
Accumulated Deficit During De_3
Accumulated Deficit During Development Stage (Details) - Schedule of Accumulated Deficit During Development Stage - AUD ($) | 12 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2021 | |
Schedule of Accumulated Deficit During Development Stage [Abstract] | |||
Balance at beginning of year | $ 181,884,388 | $ 169,728,414 | $ 154,419,061 |
Net loss for the year | 13,806,515 | 12,847,061 | 15,309,353 |
Reclassify expired options from reserves | (560,014) | (240,310) | |
Reclassify forfeited options from reserves | (450,777) | ||
Balance at end of year | $ 195,130,889 | $ 181,884,388 | $ 169,728,414 |
Leases (Details)
Leases (Details) - AUD ($) | 12 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2021 | |
Disclosure of Leases Text Block [Abstract] | |||
Additions to the right-of-use assets | $ 152,817 | $ 86,353 | $ 90,336 |
Total cash outflow for leases | $ 133,121 | $ 116,107 | $ 146,719 |
Short term lease term | 12 months |
Leases (Details) - Schedule of
Leases (Details) - Schedule of Financial Position Shows the Following Amounts Relating to Leases - AUD ($) | Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2021 |
Schedule of Amounts Relating to Leases [Abstract] | |||
Right-of-use assets | $ 207,087 | $ 115,971 | $ 65,495 |
Lease liabilities | |||
Current | 107,177 | 57,632 | 27,746 |
Non-current | 103,207 | 59,857 | 37,903 |
Total | $ 210,384 | $ 117,489 | $ 65,649 |
Leases (Details) - Schedule o_2
Leases (Details) - Schedule of Profit or Loss Shows the Following Amounts Relating to Leases - AUD ($) | 12 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2021 | |
Schedule of Amounts Recognized in Profit or Loss Relating Leases [Abstract] | |||
Depreciation of right-of-use assets | $ 64,409 | $ 36,366 | $ 56,707 |
Interest expense | 4,565 | 2,285 | 1,299 |
Expenses relating to short-term leases (included in general and administration expenses) | 68,634 | 79,309 | 87,131 |
Expenses relating to variable lease payments not included in lease liabilities (included in general and administration expenses) |
Cash Flow Information (Details)
Cash Flow Information (Details) - Schedule of Cash Flow Information - AUD ($) | 12 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2021 | |
(a) Reconciliation of Net Loss to Net Cash Flows Used In Operations | |||
Net loss | $ (13,806,515) | $ (12,847,061) | $ (15,309,353) |
Non-cash items | |||
Depreciation of property and equipment | 37,854 | 17,848 | 18,662 |
Depreciation on leased assets | 64,409 | 36,366 | 56,707 |
Others | 61 | (145) | |
Share-based payment expenses | 966,571 | 1,506,122 | 1,884,763 |
Foreign exchange (gain)/loss | (917,650) | (2,813,635) | 426,782 |
Fixed Asset Write Off | 10,232 | ||
Changes in assets and liabilities | |||
(Increase)/Decrease in trade and other receivables | (3,940,343) | (447,684) | (4,216,356) |
(Increase)/Decrease in other current assets | (968,207) | (516,176) | (517,617) |
Increase/(Decrease) in trade and other payables | (1,560,873) | 2,604,001 | 432,905 |
(Decrease) in other current liabilities | |||
Increase/(Decrease) in provision for employee entitlements | 78,685 | 122,884 | (106,417) |
Net cash flows used in operating activities | (20,035,837) | (12,337,274) | (17,330,069) |
Cash and cash equivalents balance comprises: | |||
cash and cash equivalents on hand | 15,773,783 | 34,806,799 | 28,115,516 |
Closing cash and cash equivalents balance | $ 15,773,783 | $ 34,806,799 | $ 28,115,516 |
Expenditure Commitments (Detail
Expenditure Commitments (Details) - AUD ($) | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Expenditure Commitments (Details) [Line Items] | ||
Lease commitments term | 1 year | |
Termination notice period for research and development | 30 days | |
Research and development termination | $ 3,700,000 | |
Contracts [Member] | ||
Expenditure Commitments (Details) [Line Items] | ||
Short-term lease commitments | $ 9,857 |
Share Based Payments (Details)
Share Based Payments (Details) shares in Millions | 6 Months Ended | 12 Months Ended | ||||||
Jun. 30, 2022 shares | Jun. 30, 2023 | Jun. 30, 2021 | Jun. 30, 2009 shares | Jun. 30, 2008 shares | Jun. 30, 2007 shares | Jun. 30, 2005 shares | Jun. 30, 2004 shares | |
Share Based Payments (Details) [Line Items] | ||||||||
Number of director | 4 | 4 | 6 | |||||
Number of former director | 2 | 2 | 2 | |||||
Number of employees | 10 | 9 | 8 | |||||
Number of key management personnel | 2 | 3 | 2 | |||||
Number of consultant | 4 | 5 | ||||||
Number of ordinary shares authorized under plan (in Shares) | 60 | 45 | 30 | 22 | 12 | |||
Percentage of shareholders authorized securities | 157.50% | |||||||
Issued securities value (in Shares) | 240 | |||||||
Percentage of default vesting conditions per year | 25% | |||||||
Ads Plan 2018 [Member] | ||||||||
Share Based Payments (Details) [Line Items] | ||||||||
Issued securities value (in Shares) | 200 | |||||||
Percentage of default vesting conditions per year | 25% |
Share Based Payments (Details)
Share Based Payments (Details) - Schedule of Options Granted - $ / shares | 12 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2021 | |
Schedule of Options Granted [Abstract] | |||
Number of Options, Beginning of the year | 184,692,720 | 160,542,720 | 21,550,000 |
Weighted Average Exercise Price, Beginning of the year (in Dollars per share) | $ 0.05 | $ 0.09 | $ 0.1 |
Number of Options, Issued during the year | 45,150,000 | 140,392,720 | |
Weighted Average Exercise Price, Issued during the year (in Dollars per share) | $ 0.04 | $ 0.05 | |
Number of Options, Exercised during the year | |||
Weighted Average Exercise Price, Exercised during the year (in Dollars per share) | |||
Number of Options, Expired during the year | (13,150,000) | (7,000,000) | |
Weighted Average Exercise Price, Expired during the year (in Dollars per share) | $ 0.11 | $ 0.07 | |
Number of Options, Forfeited during the year | (1,500,000) | (14,000,000) | (1,400,000) |
Weighted Average Exercise Price, Forfeited during the year (in Dollars per share) | $ 0.02 | $ 0.09 | $ 0.11 |
Number of Options, Outstanding at year end | 170,042,720 | 184,692,720 | 160,542,720 |
Weighted Average Exercise Price, Outstanding at year end (in Dollars per share) | $ 0.05 | $ 0.05 | $ 0.06 |
Number of Options, Vested and Exercisable at year end | 87,280,755 | 60,150,000 | 69,150,000 |
Weighted Average Exercise Price, Vested and Exercisable at year end (in Dollars per share) | $ 0.06 | $ 0.09 | $ 0.09 |
Share Based Payments (Details_2
Share Based Payments (Details) - Schedule of Options Outstanding - $ / shares | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Share Based Payments (Details) - Schedule of Options Outstanding [Line Items] | ||
Exercise Price (in Dollars per share) | ||
Share options | 170,042,720 | 184,692,720 |
Share options, Weighted average remaining contractual life of options outstanding at end of period. | 2 years 6 months 10 days | 3 years 3 months 25 days |
PBTAAA [Member] | ||
Share Based Payments (Details) - Schedule of Options Outstanding [Line Items] | ||
Grant Date | December 18, 2017 | |
Expiry Date | December 14, 2022 | |
Exercise Price (in Dollars per share) | $ 0.11 | |
Share options | 12,450,000 | |
Pbtai [Member] | ||
Share Based Payments (Details) - Schedule of Options Outstanding [Line Items] | ||
Grant Date | February 1, 2018 | |
Expiry Date | January 31, 2023 | |
Exercise Price (in Dollars per share) | $ 0.08 | |
Share options | 700,000 | |
ATHAAB[Member] | ||
Share Based Payments (Details) - Schedule of Options Outstanding [Line Items] | ||
Grant Date | September 18, 2020 | |
Expiry Date | September 17, 2025 | |
Exercise Price (in Dollars per share) | $ 0.09 | |
Share options | 35,000,000 | 35,000,000 |
ATHAAD[Member] | ||
Share Based Payments (Details) - Schedule of Options Outstanding [Line Items] | ||
Grant Date | January 7, 2021 | |
Expiry Date | January 6, 2026 | |
Exercise Price (in Dollars per share) | $ 0.03 | |
Share options | 91,392,720 | 91,392,720 |
ATHAAE[Member] | ||
Share Based Payments (Details) - Schedule of Options Outstanding [Line Items] | ||
Grant Date | November 29, 2021 | |
Expiry Date | November 29, 2026 | |
Exercise Price (in Dollars per share) | $ 0.04 | |
Share options | 19,250,000 | 19,250,000 |
ATHAAF[Member] | ||
Share Based Payments (Details) - Schedule of Options Outstanding [Line Items] | ||
Grant Date | July 31, 2021 | |
Expiry Date | July 31, 2024 | |
Exercise Price (in Dollars per share) | $ 0.07 | |
Share options | 12,000,000 | 12,000,000 |
ATHAAG[Member] | ||
Share Based Payments (Details) - Schedule of Options Outstanding [Line Items] | ||
Grant Date | November 21, 2021 | |
Expiry Date | November 29, 2026 | |
Exercise Price (in Dollars per share) | $ 0.02 | |
Share options | 12,400,000 | 13,900,000 |
Share Based Payments (Details_3
Share Based Payments (Details) - Schedule of Valuations of Options Approved and Issued | 12 Months Ended |
Jun. 30, 2023 $ / shares | |
PBTAS [Member] | |
Schedule of Valuations of Options Approved and Issued [Abstract] | |
Grant Date | June 7, 2017 |
Exercise Price per Share | $ 0.07 |
Share Price at Grant Date | $ 0.05 |
Years to Expiry | 5 years |
Risk-free Interest Rate | 1.97% |
Expected Share Price Volatility | 100% |
Dividend Yield | 0% |
Fair Value per Options | $ 0.034 |
PBTAAA [Member] | |
Schedule of Valuations of Options Approved and Issued [Abstract] | |
Grant Date | December 18, 2017 |
Exercise Price per Share | $ 0.11 |
Share Price at Grant Date | $ 0.07 |
Years to Expiry | 5 years |
Risk-free Interest Rate | 2.38% |
Expected Share Price Volatility | 100% |
Dividend Yield | 0% |
Fair Value per Options | $ 0.047 |
PBTAI [Member] | |
Schedule of Valuations of Options Approved and Issued [Abstract] | |
Grant Date | February 1, 2018 |
Exercise Price per Share | $ 0.08 |
Share Price at Grant Date | $ 0.06 |
Years to Expiry | 5 years |
Risk-free Interest Rate | 2.24% |
Expected Share Price Volatility | 100% |
Dividend Yield | 0% |
Fair Value per Options | $ 0.038 |
ATHAAB [Member] | |
Schedule of Valuations of Options Approved and Issued [Abstract] | |
Grant Date | September 18, 2020 |
Exercise Price per Share | $ 0.09 |
Share Price at Grant Date | $ 0.05 |
Years to Expiry | 5 years |
Risk-free Interest Rate | 0.43% |
Expected Share Price Volatility | 98% |
Dividend Yield | 0% |
Fair Value per Options | $ 0.032 |
ATHAAD [Member] | |
Schedule of Valuations of Options Approved and Issued [Abstract] | |
Grant Date | January 7, 2021 |
Exercise Price per Share | $ 0.03 |
Share Price at Grant Date | $ 0.032 |
Years to Expiry | 5 years |
Risk-free Interest Rate | 0.38% |
Expected Share Price Volatility | 139.52% |
Dividend Yield | 0% |
Fair Value per Options | $ 0.028 |
ATHAAE [Member] | |
Schedule of Valuations of Options Approved and Issued [Abstract] | |
Grant Date | November 29, 2021 |
Exercise Price per Share | $ 0.04 |
Share Price at Grant Date | $ 0.025 |
Years to Expiry | 5 years |
Risk-free Interest Rate | 1.35% |
Expected Share Price Volatility | 138.47% |
Dividend Yield | 0% |
Fair Value per Options | $ 0.021 |
ATHAAF [Member] | |
Schedule of Valuations of Options Approved and Issued [Abstract] | |
Grant Date | July 31, 2021 |
Exercise Price per Share | $ 0.07 |
Share Price at Grant Date | $ 0.034 |
Years to Expiry | 3 years |
Risk-free Interest Rate | 0.13% |
Expected Share Price Volatility | 169.42% |
Dividend Yield | 0% |
Fair Value per Options | $ 0.027 |
ATHAAG [Member] | |
Schedule of Valuations of Options Approved and Issued [Abstract] | |
Grant Date | November 29, 2021 |
Exercise Price per Share | $ 0.02 |
Share Price at Grant Date | $ 0.024 |
Years to Expiry | 5 years |
Risk-free Interest Rate | 1.35% |
Expected Share Price Volatility | 138.47% |
Dividend Yield | 0% |
Fair Value per Options | $ 0.021 |
Share Based Payments (Details_4
Share Based Payments (Details) - Schedule of Shares Issued under Stock Option Plan - 2004 ASX Plan [Member] - shares | 12 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2021 | |
Share Based Payments (Details) - Schedule of Shares Issued under Stock Option Plan [Line Items] | |||
Beginning of the year | 13,277,715 | 13,277,715 | 13,277,715 |
Issued during the year | |||
End of the financial year | 13,277,715 | 13,277,715 | 13,277,715 |
Subsequent Events (Details)
Subsequent Events (Details) $ in Thousands | Aug. 15, 2023 AUD ($) |
Subsequent Events [Member] | |
Subsequent Events (Details) [Line Items] | |
Received amount | $ 4,740 |
Loss Per Share (Details) - Sche
Loss Per Share (Details) - Schedule of Earning Loss Per Share - $ / shares | 12 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2021 | |
Schedule of Earning Loss Per Share [Abstract] | |||
Basic loss per share (cents per share) | $ (0.57) | $ (0.53) | $ (0.9) |
Weighted average number of ordinary shares on issue used in the calculation of basic loss per share | 2,427,841,917 | 2,405,990,036 | 1,696,576,324 |
Loss Per Share (Details) - Sc_2
Loss Per Share (Details) - Schedule of Earning Loss Per Share (Parentheticals) - $ / shares | 12 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2021 | |
Schedule of Earning Loss Per Share [Abstract] | |||
Diluted loss per share | $ (0.57) | $ (0.53) | $ (0.90) |
Weighted average number of ordinary shares on issue used in the calculation of diluted loss per share | 2,427,841,917 | 2,405,990,036 | 1,696,576,324 |
Key Management Personnel Comp_3
Key Management Personnel Compensation (Details) - Schedule of Key Management Personnel Compensation - AUD ($) | 12 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2021 | |
Schedule of Key Management Personnel Compensation [Abstract] | |||
Short-term employee benefits | $ 1,727,020 | $ 1,641,015 | $ 1,891,777 |
Post-employment benefits | 42,444 | 44,121 | 45,180 |
Long-term benefits | 7,215 | 6,711 | (110,285) |
Termination benefits | 1,000,000 | ||
Share-based payments | 764,175 | 998,164 | 1,950,565 |
Total | $ 2,540,854 | $ 2,690,011 | $ 4,777,237 |
Auditors' Remuneration (Details
Auditors' Remuneration (Details) - Schedule of Audit and Review of Financial Statements - AUD ($) | 12 Months Ended | |||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2021 | ||
Schedule of Audit and Review of Financial Statements [Abstract] | ||||
- Audit and review of financial statements | [1] | $ 246,400 | $ 216,400 | $ 202,400 |
- Other audit services | [2] | 52,000 | 130,000 | |
Total auditors remuneration | $ 298,400 | $ 216,400 | $ 332,400 | |
[1]Audit and review of financial statements consist of fees billed for assurance and related services that generally only the statutory auditor could reasonably provide to a client.[2]Included in the balance are amounts related to additional regulatory filings during the 2023 and 2021 financial years. All services provided are considered audit services for the purpose of SEC classification. |
Related Party Transactions (Det
Related Party Transactions (Details) - AUD ($) | 12 Months Ended | |||
Jan. 07, 2021 | Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2021 | |
Related Party Transactions (Details) [Line Items] | ||||
Percentage of ownership interest in subsidiary | 100% | |||
Advisory fees paid | $ 150,000 | |||
Mr. Geoffrey Kempler [Member] | ||||
Related Party Transactions (Details) [Line Items] | ||||
Advisory fees paid | $ 202,800 | $ 277,800 | ||
Received amount | $ 1,000,000 | |||
Mr. Lawrence Gozlan [Member] | ||||
Related Party Transactions (Details) [Line Items] | ||||
Advisory fees paid | $ 37,500 | |||
Chief Executive Officers [Member] | Mr. Geoffrey Kempler [Member] | ||||
Related Party Transactions (Details) [Line Items] | ||||
Advisory fees paid | $ 102,361 |
Related Party Transactions (D_2
Related Party Transactions (Details) - Schedule of Directors Remuneration - AUD ($) | 12 Months Ended | ||||||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2021 | |||||
Related Party Transactions (Details) - Schedule of Directors Remuneration [Line Items] | |||||||
Short Term Benefits Base Fee | $ 1,532,450 | $ 1,641,015 | $ 1,891,777 | ||||
Short Term Benefits Bonus | 194,570 | ||||||
Post-Employment Superannuation Contribution | 42,444 | 44,121 | 45,180 | ||||
Long Term Benefits Long-service Leave | 7,215 | 6,711 | (110,285) | ||||
Termination Benefit | 1,000,000 | ||||||
Equity Options | 764,175 | 998,164 | 1,950,565 | ||||
Total | 2,540,854 | 2,690,011 | 4,777,237 | ||||
Directors [Member] | |||||||
Related Party Transactions (Details) - Schedule of Directors Remuneration [Line Items] | |||||||
Short Term Benefits Base Fee | 506,148 | 685,643 | 970,741 | ||||
Short Term Benefits Bonus | |||||||
Post-Employment Superannuation Contribution | 17,152 | 20,553 | 23,486 | ||||
Long Term Benefits Long-service Leave | (121,542) | ||||||
Termination Benefit | 1,000,000 | ||||||
Equity Options | 1,577,722 | ||||||
Total | 523,300 | 706,196 | 3,450,407 | ||||
Other Key Management Personnel [Member] | |||||||
Related Party Transactions (Details) - Schedule of Directors Remuneration [Line Items] | |||||||
Short Term Benefits Base Fee | 1,026,302 | 955,372 | 921,036 | ||||
Short Term Benefits Bonus | 194,570 | ||||||
Post-Employment Superannuation Contribution | 25,292 | 23,568 | 21,694 | ||||
Long Term Benefits Long-service Leave | 7,215 | 6,711 | 11,257 | ||||
Termination Benefit | |||||||
Equity Options | 764,175 | 998,164 | 372,843 | ||||
Total | 2,017,554 | 1,983,815 | 1,326,830 | ||||
Mr. Geoffrey Kempler [member] | Directors [Member] | |||||||
Related Party Transactions (Details) - Schedule of Directors Remuneration [Line Items] | |||||||
Short Term Benefits Base Fee | 302,800 | [1] | 377,800 | [2] | 487,292 | [2] | |
Short Term Benefits Bonus | [1] | [2] | [2] | ||||
Post-Employment Superannuation Contribution | 10,500 | [1] | 10,000 | [2] | 16,184 | [2] | |
Long Term Benefits Long-service Leave | [1] | [2] | (121,542) | [2] | |||
Termination Benefit | [1] | [2] | 1,000,000 | [2] | |||
Equity Options | [1] | [2] | 450,777 | [2] | |||
Total | 313,300 | [1] | 387,800 | [2] | 1,832,711 | [2] | |
Mr. Brian Meltzer [member] | Directors [Member] | |||||||
Related Party Transactions (Details) - Schedule of Directors Remuneration [Line Items] | |||||||
Short Term Benefits Base Fee | 63,348 | 63,636 | 66,209 | ||||
Short Term Benefits Bonus | |||||||
Post-Employment Superannuation Contribution | 6,652 | 6,359 | 6,290 | ||||
Long Term Benefits Long-service Leave | |||||||
Termination Benefit | |||||||
Equity Options | 225,389 | ||||||
Total | 70,000 | 69,995 | 297,888 | ||||
Mr. Peter Marks [member] | Directors [Member] | |||||||
Related Party Transactions (Details) - Schedule of Directors Remuneration [Line Items] | |||||||
Short Term Benefits Base Fee | 70,000 | 70,000 | 68,333 | ||||
Short Term Benefits Bonus | |||||||
Post-Employment Superannuation Contribution | |||||||
Long Term Benefits Long-service Leave | |||||||
Termination Benefit | |||||||
Equity Options | 225,389 | ||||||
Total | 70,000 | 70,000 | 293,722 | ||||
Mr. Lawrence Gozlan [member] | Directors [Member] | |||||||
Related Party Transactions (Details) - Schedule of Directors Remuneration [Line Items] | |||||||
Short Term Benefits Base Fee | 70,000 | 107,500 | [3] | 218,333 | [3],[4] | ||
Short Term Benefits Bonus | [3] | [3],[4] | |||||
Post-Employment Superannuation Contribution | [3] | [3],[4] | |||||
Long Term Benefits Long-service Leave | [3] | [3],[4] | |||||
Termination Benefit | [5] | [3] | [3],[4] | ||||
Equity Options | [3] | 225,389 | [3],[4] | ||||
Total | 70,000 | 107,500 | [3] | 443,722 | [3],[4] | ||
Dr. David Stamler [member] | Other Key Management Personnel [Member] | |||||||
Related Party Transactions (Details) - Schedule of Directors Remuneration [Line Items] | |||||||
Short Term Benefits Base Fee | 731,381 | [6] | 658,393 | [5] | 606,058 | [5] | |
Short Term Benefits Bonus | 194,570 | [6] | [5] | [5] | |||
Post-Employment Superannuation Contribution | [6] | [5] | [5] | ||||
Long Term Benefits Long-service Leave | [6] | [5] | [5] | ||||
Termination Benefit | [6] | [5] | [5] | ||||
Equity Options | 724,047 | [6] | 965,633 | [5] | 372,843 | [5] | |
Total | 1,649,998 | [6] | 1,624,026 | [5] | 978,901 | [5] | |
Ms. Kathryn Andrews [member] | Other Key Management Personnel [Member] | |||||||
Related Party Transactions (Details) - Schedule of Directors Remuneration [Line Items] | |||||||
Short Term Benefits Base Fee | 294,921 | [6] | 296,979 | [5] | 314,978 | [5] | |
Short Term Benefits Bonus | [6] | [5] | [5] | ||||
Post-Employment Superannuation Contribution | 25,292 | [6] | 23,568 | [5] | 21,694 | [5] | |
Long Term Benefits Long-service Leave | 7,215 | [6] | 6,711 | [5] | 11,257 | [5] | |
Termination Benefit | [6] | [5] | [5] | ||||
Equity Options | 40,128 | [6] | 32,531 | [5] | [5] | ||
Total | $ 367,556 | [6] | 359,789 | [5] | 347,929 | [5] | |
Dr. David Sinclair [member] | Directors [Member] | |||||||
Related Party Transactions (Details) - Schedule of Directors Remuneration [Line Items] | |||||||
Short Term Benefits Base Fee | 34,888 | [4] | 65,800 | ||||
Short Term Benefits Bonus | [4] | ||||||
Post-Employment Superannuation Contribution | [4] | ||||||
Long Term Benefits Long-service Leave | [4] | ||||||
Termination Benefit | [4] | ||||||
Equity Options | [4] | 225,389 | |||||
Total | 34,888 | [4] | 291,189 | ||||
Mr. Tristan Edwards [member] | Directors [Member] | |||||||
Related Party Transactions (Details) - Schedule of Directors Remuneration [Line Items] | |||||||
Short Term Benefits Base Fee | 31,819 | [4] | 64,774 | ||||
Short Term Benefits Bonus | [4] | ||||||
Post-Employment Superannuation Contribution | 4,194 | [4] | 1,012 | ||||
Long Term Benefits Long-service Leave | [4] | ||||||
Termination Benefit | [4] | ||||||
Equity Options | [4] | 225,389 | |||||
Total | $ 36,013 | [4] | $ 291,175 | ||||
[1]Includes A$277,800 in corporate advisory fees paid to an associated entity of Mr. Geoffrey Kempler for business advisory services including investor relations, marketing and business development.[2] Upon termination of employment as Chief Executive Officer on January 7, 2021 Mr. Geoffrey Kempler received the sum of A$1 million in accordance with his employment agreement dated September 21, 2007 and accrued leave entitlements. His remuneration includes A$102,361 in corporate advisory fees paid to an associated entity of Mr. Geoffrey Kempler for business advisory services including investor relations, marketing and business development. Remuneration of Dr. David Stamler covered his previous role as Chief Medical Officer and Senior Vice President Clinical Development from July 1, 2020 to January 6. 2021 and CEO effective January 7, 2021. Base Fee includes movements in the annual leave provision for Ms. Kathryn Andrews and Dr. David Stamler in accordance with their employment contracts. |
Related Party Transactions (D_3
Related Party Transactions (Details) - Schedule of Key Management Personnel Equity Holdings - shares | 12 Months Ended | |||||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2021 | ||||
Related Party Transactions (Details) - Schedule of Key Management Personnel Equity Holdings [Line Items] | ||||||
Balance at beginning | 18,380,777 | 18,380,777 | 18,380,777 | |||
Received as Remuneration | ||||||
Received on Exercise of Options | ||||||
Net Change Other | 3,555,000 | |||||
Balance at ending | 21,935,777 | 18,380,777 | 18,380,777 | |||
Mr. Geoffrey Kempler [Member] | Directors [Member] | ||||||
Related Party Transactions (Details) - Schedule of Key Management Personnel Equity Holdings [Line Items] | ||||||
Balance at beginning | 18,011,000 | 18,011,000 | 18,011,000 | |||
Received as Remuneration | ||||||
Received on Exercise of Options | ||||||
Net Change Other | ||||||
Balance at ending | 18,011,000 | 18,011,000 | 18,011,000 | |||
Mr. Lawrence Gozlan [Member] | Directors [Member] | ||||||
Related Party Transactions (Details) - Schedule of Key Management Personnel Equity Holdings [Line Items] | ||||||
Balance at beginning | ||||||
Received as Remuneration | ||||||
Received on Exercise of Options | ||||||
Net Change Other | ||||||
Balance at ending | ||||||
Mr. Brian Meltzer [Member] | Directors [Member] | ||||||
Related Party Transactions (Details) - Schedule of Key Management Personnel Equity Holdings [Line Items] | ||||||
Balance at beginning | 326,666 | 326,666 | 326,666 | |||
Received as Remuneration | ||||||
Received on Exercise of Options | ||||||
Net Change Other | ||||||
Balance at ending | 326,666 | 326,666 | 326,666 | |||
Mr. Peter Marks [Member] | Directors [Member] | ||||||
Related Party Transactions (Details) - Schedule of Key Management Personnel Equity Holdings [Line Items] | ||||||
Balance at beginning | 43,111 | 43,111 | 43,111 | |||
Received as Remuneration | ||||||
Received on Exercise of Options | ||||||
Net Change Other | ||||||
Balance at ending | 43,111 | 43,111 | 43,111 | |||
Ms.Kathryn Andrews [Member] | Directors [Member] | ||||||
Related Party Transactions (Details) - Schedule of Key Management Personnel Equity Holdings [Line Items] | ||||||
Balance at beginning | ||||||
Received as Remuneration | ||||||
Received on Exercise of Options | ||||||
Net Change Other | ||||||
Balance at ending | ||||||
Dr David Stamler [Member] | Directors [Member] | ||||||
Related Party Transactions (Details) - Schedule of Key Management Personnel Equity Holdings [Line Items] | ||||||
Balance at beginning | ||||||
Received as Remuneration | ||||||
Received on Exercise of Options | ||||||
Net Change Other | 3,555,000 | |||||
Balance at ending | 3,555,000 | |||||
Dr. David Sinclair [Member] | Directors [Member] | ||||||
Related Party Transactions (Details) - Schedule of Key Management Personnel Equity Holdings [Line Items] | ||||||
Balance at beginning | [1] | [1] | ||||
Received as Remuneration | [1] | |||||
Received on Exercise of Options | [1] | |||||
Net Change Other | [1] | |||||
Balance at ending | [1] | |||||
Mr. Tristan Edwards [Member] | Directors [Member] | ||||||
Related Party Transactions (Details) - Schedule of Key Management Personnel Equity Holdings [Line Items] | ||||||
Balance at beginning | [1] | [1] | ||||
Received as Remuneration | [1] | |||||
Received on Exercise of Options | [1] | |||||
Net Change Other | [1] | |||||
Balance at ending | [1] | |||||
[1] David Sinclair and Tristan Edwards resigned on January 4, 2022. |
Related Party Transactions (D_4
Related Party Transactions (Details) - Schedule of Share Options of The Company - Directors [Member] - shares | 12 Months Ended | |||||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2021 | ||||
Related Party Transactions (Details) - Schedule of Share Options of The Company [Line Items] | ||||||
Beginning of the year | 140,142,720 | 153,642,720 | 13,250,000 | |||
Granted as Remuneration | 5,000,000 | 140,392,720 | ||||
Options Exercised | ||||||
Options Expired | (8,750,000) | (4,500,000) | ||||
Options Forfeited | (14,000,000) | |||||
Net Change Other | ||||||
Options Vested During the year | 49,000,000 | |||||
Ending of the year | 131,392,720 | 140,142,720 | 153,642,720 | |||
Total Vested and Exercisable | 68,618,255 | 43,750,000 | 62,250,000 | |||
Total Unvested | 62,774,465 | 96,392,720 | 91,392,720 | |||
Mr. Geoffrey Kempler [Member] | ||||||
Related Party Transactions (Details) - Schedule of Share Options of The Company [Line Items] | ||||||
Beginning of the year | 19,000,000 | 19,000,000 | 5,000,000 | |||
Granted as Remuneration | 14,000,000 | |||||
Options Exercised | ||||||
Options Expired | (5,000,000) | |||||
Options Forfeited | ||||||
Net Change Other | ||||||
Options Vested During the year | 14,000,000 | |||||
Ending of the year | 14,000,000 | 19,000,000 | 19,000,000 | |||
Total Vested and Exercisable | 14,000,000 | 19,000,000 | 19,000,000 | |||
Total Unvested | ||||||
Mr. Lawrence Gozlan [Member] | ||||||
Related Party Transactions (Details) - Schedule of Share Options of The Company [Line Items] | ||||||
Beginning of the year | 8,250,000 | 8,250,000 | 1,250,000 | |||
Granted as Remuneration | 7,000,000 | |||||
Options Exercised | ||||||
Options Expired | (1,250,000) | |||||
Options Forfeited | ||||||
Net Change Other | ||||||
Options Vested During the year | 7,000,000 | |||||
Ending of the year | 7,000,000 | 8,250,000 | 8,250,000 | |||
Total Vested and Exercisable | 7,000,000 | 8,250,000 | 8,250,000 | |||
Total Unvested | ||||||
Mr. Brian Meltzer [Member] | ||||||
Related Party Transactions (Details) - Schedule of Share Options of The Company [Line Items] | ||||||
Beginning of the year | 8,250,000 | 8,250,000 | 1,250,000 | |||
Granted as Remuneration | 7,000,000 | |||||
Options Exercised | ||||||
Options Expired | (1,250,000) | |||||
Options Forfeited | ||||||
Net Change Other | ||||||
Options Vested During the year | 7,000,000 | |||||
Ending of the year | 7,000,000 | 8,250,000 | 8,250,000 | |||
Total Vested and Exercisable | 7,000,000 | 8,250,000 | 8,250,000 | |||
Total Unvested | ||||||
Mr. Peter Marks [Member] | ||||||
Related Party Transactions (Details) - Schedule of Share Options of The Company [Line Items] | ||||||
Beginning of the year | 8,250,000 | 8,250,000 | 1,250,000 | |||
Granted as Remuneration | 7,000,000 | |||||
Options Exercised | ||||||
Options Expired | (1,250,000) | |||||
Options Forfeited | ||||||
Net Change Other | ||||||
Options Vested During the year | 7,000,000 | |||||
Ending of the year | 7,000,000 | 8,250,000 | 8,250,000 | |||
Total Vested and Exercisable | 7,000,000 | 8,250,000 | 8,250,000 | |||
Total Unvested | ||||||
Ms. Kathryn Andrews [Member] | ||||||
Related Party Transactions (Details) - Schedule of Share Options of The Company [Line Items] | ||||||
Beginning of the year | 5,000,000 | 500,000 | 500,000 | |||
Granted as Remuneration | 5,000,000 | |||||
Options Exercised | ||||||
Options Expired | (500,000) | |||||
Options Forfeited | ||||||
Net Change Other | ||||||
Options Vested During the year | ||||||
Ending of the year | 5,000,000 | 5,000,000 | 500,000 | |||
Total Vested and Exercisable | 1,250,000 | 500,000 | ||||
Total Unvested | 3,750,000 | 5,000,000 | ||||
Dr. David Stamler [Member] | ||||||
Related Party Transactions (Details) - Schedule of Share Options of The Company [Line Items] | ||||||
Beginning of the year | 91,392,720 | 95,392,720 | 4,000,000 | |||
Granted as Remuneration | 91,392,720 | |||||
Options Exercised | ||||||
Options Expired | (4,000,000) | |||||
Options Forfeited | ||||||
Net Change Other | ||||||
Options Vested During the year | ||||||
Ending of the year | 91,392,720 | 91,392,720 | 95,392,720 | |||
Total Vested and Exercisable | 32,368,255 | 4,000,000 | ||||
Total Unvested | 59,024,465 | 91,392,720 | 91,392,720 | |||
Dr. David Sinclair [Member] | ||||||
Related Party Transactions (Details) - Schedule of Share Options of The Company [Line Items] | ||||||
Beginning of the year | [1] | 7,000,000 | [1] | |||
Granted as Remuneration | [1] | 7,000,000 | ||||
Options Exercised | [1] | |||||
Options Expired | [1] | |||||
Options Forfeited | (7,000,000) | [1] | ||||
Net Change Other | [1] | |||||
Options Vested During the year | [1] | 7,000,000 | ||||
Ending of the year | [1] | 7,000,000 | ||||
Total Vested and Exercisable | [1] | 7,000,000 | ||||
Total Unvested | [1] | |||||
Mr. Tristan Edwards [Member] | ||||||
Related Party Transactions (Details) - Schedule of Share Options of The Company [Line Items] | ||||||
Beginning of the year | [1] | 7,000,000 | [1] | |||
Granted as Remuneration | [1] | 7,000,000 | ||||
Options Exercised | [1] | |||||
Options Expired | [1] | |||||
Options Forfeited | (7,000,000) | [1] | ||||
Net Change Other | [1] | |||||
Options Vested During the year | [1] | 7,000,000 | ||||
Ending of the year | [1] | 7,000,000 | ||||
Total Vested and Exercisable | [1] | 7,000,000 | ||||
Total Unvested | [1] | |||||
[1] David Sinclair and Tristan Edwards resigned on January 4, 2022. |
Segment Information (Details)
Segment Information (Details) | 12 Months Ended |
Jun. 30, 2023 | |
Segment Information [Abstract] | |
Reportable segment | 1 |
Financial Instruments (Details)
Financial Instruments (Details) | 1 Months Ended | 12 Months Ended | |||||||||||
Sep. 02, 2023 AUD ($) | Sep. 07, 2022 AUD ($) | Sep. 02, 2022 AUD ($) | Sep. 11, 2021 AUD ($) | Sep. 07, 2021 AUD ($) | Aug. 28, 2023 AUD ($) | Jul. 27, 2021 AUD ($) | Jun. 30, 2023 AUD ($) | Jun. 30, 2022 AUD ($) | Jun. 30, 2021 AUD ($) | Jun. 30, 2023 USD ($) | Jun. 30, 2022 USD ($) | Jun. 30, 2021 USD ($) | |
Financial Instruments (Details) [Line Items] | |||||||||||||
Average annual movement foreign exchange rate | 3.60% | 8.19% | |||||||||||
Impact of weakened/strengthened of Australian dollar against US Dollar on post-tax loss (in Dollars) | $ 499,159 | $ 2,233,871 | |||||||||||
Interest rate | 3.85% | ||||||||||||
Cash And Cash Equivalent [Member] | Interest Rate 1.44 Percent [Member] | |||||||||||||
Financial Instruments (Details) [Line Items] | |||||||||||||
Cash accounts | $ 27,457 | ||||||||||||
Interest rate | 1.44% | ||||||||||||
Cash And Cash Equivalent [Member] | Interest Rate of 0.05 Percent [Member] | |||||||||||||
Financial Instruments (Details) [Line Items] | |||||||||||||
Cash accounts | $ 61,518 | ||||||||||||
Interest rate | 0% | ||||||||||||
Cash And Cash Equivalent [Member] | Interest Rate Of 0.00 One Percent [Member] | |||||||||||||
Financial Instruments (Details) [Line Items] | |||||||||||||
Cash accounts | $ 18,864 | ||||||||||||
Interest rate | 0% | ||||||||||||
Cash And Cash Equivalent [Member] | |||||||||||||
Financial Instruments (Details) [Line Items] | |||||||||||||
Interest rate | 0.05% | ||||||||||||
Cash And Cash Equivalent [Member] | Insurance risk [member] | Interest Rate Of 0.00 Two Percent [Member] | |||||||||||||
Financial Instruments (Details) [Line Items] | |||||||||||||
Cash accounts | $ 10,279,099 | ||||||||||||
Cash And Cash Equivalent [Member] | Interest rate risk [member] | Interest Rate of 0.05 Percent [Member] | |||||||||||||
Financial Instruments (Details) [Line Items] | |||||||||||||
Cash accounts | $ 106,224 | $ 46,862 | |||||||||||
Interest rate | 0% | 0% | |||||||||||
Cash And Cash Equivalent [Member] | Interest rate risk [member] | Interest Rate Of 0.00 One Percent [Member] | |||||||||||||
Financial Instruments (Details) [Line Items] | |||||||||||||
Cash accounts | $ 281,415 | $ 119,340 | |||||||||||
Interest rate | 0% | 0% | |||||||||||
Cash And Cash Equivalent [Member] | Interest rate risk [member] | Interest Rate Of 0.00 Two Percent [Member] | |||||||||||||
Financial Instruments (Details) [Line Items] | |||||||||||||
Cash accounts | $ 15,473,231 | $ 29,361,393 | $ 21,523,678 | $ 20,233,747 | $ 16,159,039 | ||||||||
Interest rate | 0% | 0% | 0% | ||||||||||
Cash And Cash Equivalent [Member] | Interest rate risk [member] | Interest Rate 3.85 One Percent [Member] | |||||||||||||
Financial Instruments (Details) [Line Items] | |||||||||||||
Cash accounts | $ 150,000 | ||||||||||||
Interest rate | 3.85% | ||||||||||||
Cash And Cash Equivalent [Member] | Interest rate risk [member] | Interest Rate 0.29 Percent [Member] | |||||||||||||
Financial Instruments (Details) [Line Items] | |||||||||||||
Cash accounts | $ 4,863,883 | ||||||||||||
Interest rate | 0.29% | ||||||||||||
Cash And Cash Equivalent [Member] | Interest rate risk [member] | Interest Rate 0.15 Percent [Member] | |||||||||||||
Financial Instruments (Details) [Line Items] | |||||||||||||
Cash accounts | $ 42,713 | ||||||||||||
Interest rate | 0.15% | ||||||||||||
Cash And Cash Equivalent [Member] | Interest rate risk [member] | Interest Rate 0.15 One Percent [Member] | |||||||||||||
Financial Instruments (Details) [Line Items] | |||||||||||||
Cash accounts | $ 150,000 | ||||||||||||
Interest rate | 0.15% | ||||||||||||
Cash And Cash Equivalent [Member] | Interest rate risk [member] | Interest Rate 0.01 Percent [Member] | |||||||||||||
Financial Instruments (Details) [Line Items] | |||||||||||||
Cash accounts | $ 3,231,661 | ||||||||||||
Interest rate | 0.01% | ||||||||||||
Cash And Cash Equivalent [Member] | Interest rate risk [member] | Interest Rate of 0.80 Percent [Member] | |||||||||||||
Financial Instruments (Details) [Line Items] | |||||||||||||
Cash accounts | $ 42,713 | ||||||||||||
Interest rate | 0.10% | ||||||||||||
Cash And Cash Equivalent [Member] | Interest rate risk [member] | Interest Rate 0.10 One Percent [Member] | |||||||||||||
Financial Instruments (Details) [Line Items] | |||||||||||||
Cash accounts | $ 150,000 | ||||||||||||
Interest rate | 0.10% | ||||||||||||
Cash And Cash Equivalent [Member] | Interest rate risk [member] | Interest Rate Of 0.05 Percent [Member] | |||||||||||||
Financial Instruments (Details) [Line Items] | |||||||||||||
Cash accounts | $ 3,000,000 | ||||||||||||
Interest rate | 0.05% | ||||||||||||
Cash And Cash Equivalent [Member] | Interest Rate 3.85 Percent [Member] | |||||||||||||
Financial Instruments (Details) [Line Items] | |||||||||||||
Cash accounts | $ 42,713 | ||||||||||||
Interest rate | 3.85% |
Financial Instruments (Detail_2
Financial Instruments (Details) - Schedule of Financial Assets and Liabilities Subject to Foreign Currency Risk - AUD ($) | Jun. 30, 2023 | Jun. 30, 2022 |
Financial Instruments (Details) - Schedule of Financial Assets and Liabilities Subject to Foreign Currency Risk [Line Items] | ||
Total exposure | $ 13,844,564 | $ 27,171,142 |
Cash And Cash Equivalent [Member] | (USD) [Member] | ||
Financial Instruments (Details) - Schedule of Financial Assets and Liabilities Subject to Foreign Currency Risk [Line Items] | ||
Total exposure | 15,473,231 | 29,361,393 |
Cash And Cash Equivalent [Member] | (€EUR) [Member | ||
Financial Instruments (Details) - Schedule of Financial Assets and Liabilities Subject to Foreign Currency Risk [Line Items] | ||
Total exposure | ||
Cash And Cash Equivalent [Member] | (£GBP) [Member] | ||
Financial Instruments (Details) - Schedule of Financial Assets and Liabilities Subject to Foreign Currency Risk [Line Items] | ||
Total exposure | 423 | |
Trade and Other Payables [Member] | (USD) [Member] | ||
Financial Instruments (Details) - Schedule of Financial Assets and Liabilities Subject to Foreign Currency Risk [Line Items] | ||
Total exposure | (1,611,223) | (2,088,037) |
Trade and Other Payables [Member] | (€EUR) [Member | ||
Financial Instruments (Details) - Schedule of Financial Assets and Liabilities Subject to Foreign Currency Risk [Line Items] | ||
Total exposure | ||
Trade and Other Payables [Member] | (£GBP) [Member] | ||
Financial Instruments (Details) - Schedule of Financial Assets and Liabilities Subject to Foreign Currency Risk [Line Items] | ||
Total exposure | $ (17,444) | $ (102,637) |
Financial Instruments (Detail_3
Financial Instruments (Details) - Schedule of Interest Rates and the Effective Weighted Average Interest Rate for Classes of Financial Assets and Liabilities - AUD ($) | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Financial Instruments (Details) - Schedule of Interest Rates and the Effective Weighted Average Interest Rate for Classes of Financial Assets and Liabilities [Line Items] | ||
Total Financial Assets | $ 24,439,487 | $ 39,532,160 |
Total Financial Liabilities | (3,728,092) | (5,224,000) |
Floating Interest Rate [Member] | ||
Financial Instruments (Details) - Schedule of Interest Rates and the Effective Weighted Average Interest Rate for Classes of Financial Assets and Liabilities [Line Items] | ||
Total Financial Assets | 27,457 | 4,863,883 |
Total Financial Liabilities | ||
Non-Interest Bearing [Member] | ||
Financial Instruments (Details) - Schedule of Interest Rates and the Effective Weighted Average Interest Rate for Classes of Financial Assets and Liabilities [Line Items] | ||
Total Financial Assets | 24,219,317 | 34,475,564 |
Total Financial Liabilities | (3,517,708) | $ (5,106,511) |
Interest Rate Risk [Member] | ||
Financial Instruments (Details) - Schedule of Interest Rates and the Effective Weighted Average Interest Rate for Classes of Financial Assets and Liabilities [Line Items] | ||
Average Interest Rate | 0.002% | |
1 year or less [Member] | Fixed Interest Rate [Member] | ||
Financial Instruments (Details) - Schedule of Interest Rates and the Effective Weighted Average Interest Rate for Classes of Financial Assets and Liabilities [Line Items] | ||
Total Financial Assets | 192,713 | $ 192,713 |
Total Financial Liabilities | (107,177) | (57,632) |
1-5 years [Member] | Fixed Interest Rate [Member] | ||
Financial Instruments (Details) - Schedule of Interest Rates and the Effective Weighted Average Interest Rate for Classes of Financial Assets and Liabilities [Line Items] | ||
Total Financial Assets | ||
Total Financial Liabilities | (103,207) | (59,857) |
Cash and Cash Equivalents [Member] | ||
Financial Instruments (Details) - Schedule of Interest Rates and the Effective Weighted Average Interest Rate for Classes of Financial Assets and Liabilities [Line Items] | ||
Total Financial Assets | 15,773,783 | 34,806,799 |
Cash and Cash Equivalents [Member] | Floating Interest Rate [Member] | ||
Financial Instruments (Details) - Schedule of Interest Rates and the Effective Weighted Average Interest Rate for Classes of Financial Assets and Liabilities [Line Items] | ||
Total Financial Assets | 27,457 | 4,863,883 |
Cash and Cash Equivalents [Member] | Non-Interest Bearing [Member] | ||
Financial Instruments (Details) - Schedule of Interest Rates and the Effective Weighted Average Interest Rate for Classes of Financial Assets and Liabilities [Line Items] | ||
Total Financial Assets | $ 15,553,613 | $ 29,750,203 |
Cash and Cash Equivalents [Member] | Interest Rate Risk [Member] | ||
Financial Instruments (Details) - Schedule of Interest Rates and the Effective Weighted Average Interest Rate for Classes of Financial Assets and Liabilities [Line Items] | ||
Average Interest Rate | 0.05% | 0.002% |
Cash and Cash Equivalents [Member] | 1 year or less [Member] | Fixed Interest Rate [Member] | ||
Financial Instruments (Details) - Schedule of Interest Rates and the Effective Weighted Average Interest Rate for Classes of Financial Assets and Liabilities [Line Items] | ||
Total Financial Assets | $ 192,713 | $ 192,713 |
Cash and Cash Equivalents [Member] | 1-5 years [Member] | Fixed Interest Rate [Member] | ||
Financial Instruments (Details) - Schedule of Interest Rates and the Effective Weighted Average Interest Rate for Classes of Financial Assets and Liabilities [Line Items] | ||
Total Financial Assets | ||
Trade and Other Receivables [Member] | ||
Financial Instruments (Details) - Schedule of Interest Rates and the Effective Weighted Average Interest Rate for Classes of Financial Assets and Liabilities [Line Items] | ||
Total Financial Assets | 8,665,704 | |
Total Financial Liabilities | 4,725,361 | |
Trade and Other Receivables [Member] | Floating Interest Rate [Member] | ||
Financial Instruments (Details) - Schedule of Interest Rates and the Effective Weighted Average Interest Rate for Classes of Financial Assets and Liabilities [Line Items] | ||
Total Financial Assets | ||
Total Financial Liabilities | ||
Trade and Other Receivables [Member] | Non-Interest Bearing [Member] | ||
Financial Instruments (Details) - Schedule of Interest Rates and the Effective Weighted Average Interest Rate for Classes of Financial Assets and Liabilities [Line Items] | ||
Total Financial Assets | 8,665,704 | |
Total Financial Liabilities | 4,725,361 | |
Trade and Other Receivables [Member] | 1 year or less [Member] | Fixed Interest Rate [Member] | ||
Financial Instruments (Details) - Schedule of Interest Rates and the Effective Weighted Average Interest Rate for Classes of Financial Assets and Liabilities [Line Items] | ||
Total Financial Assets | ||
Total Financial Liabilities | ||
Trade and Other Receivables [Member] | 1-5 years [Member] | Fixed Interest Rate [Member] | ||
Financial Instruments (Details) - Schedule of Interest Rates and the Effective Weighted Average Interest Rate for Classes of Financial Assets and Liabilities [Line Items] | ||
Total Financial Assets | ||
Total Financial Liabilities | ||
Other Current Assets [Member] | ||
Financial Instruments (Details) - Schedule of Interest Rates and the Effective Weighted Average Interest Rate for Classes of Financial Assets and Liabilities [Line Items] | ||
Total Financial Assets | ||
Other Current Assets [Member] | Floating Interest Rate [Member] | ||
Financial Instruments (Details) - Schedule of Interest Rates and the Effective Weighted Average Interest Rate for Classes of Financial Assets and Liabilities [Line Items] | ||
Total Financial Assets | ||
Other Current Assets [Member] | Non-Interest Bearing [Member] | ||
Financial Instruments (Details) - Schedule of Interest Rates and the Effective Weighted Average Interest Rate for Classes of Financial Assets and Liabilities [Line Items] | ||
Total Financial Assets | ||
Other Current Assets [Member] | Interest Rate Risk [Member] | ||
Financial Instruments (Details) - Schedule of Interest Rates and the Effective Weighted Average Interest Rate for Classes of Financial Assets and Liabilities [Line Items] | ||
Average Interest Rate | 4.40% | |
Other Current Assets [Member] | 1 year or less [Member] | Fixed Interest Rate [Member] | ||
Financial Instruments (Details) - Schedule of Interest Rates and the Effective Weighted Average Interest Rate for Classes of Financial Assets and Liabilities [Line Items] | ||
Total Financial Assets | $ 29,150 | |
Other Current Assets [Member] | 1-5 years [Member] | Fixed Interest Rate [Member] | ||
Financial Instruments (Details) - Schedule of Interest Rates and the Effective Weighted Average Interest Rate for Classes of Financial Assets and Liabilities [Line Items] | ||
Total Financial Assets | ||
Trade and Other Payables [Member] | ||
Financial Instruments (Details) - Schedule of Interest Rates and the Effective Weighted Average Interest Rate for Classes of Financial Assets and Liabilities [Line Items] | ||
Total Financial Assets | (3,517,708) | |
Total Financial Liabilities | (5,106,511) | |
Trade and Other Payables [Member] | Floating Interest Rate [Member] | ||
Financial Instruments (Details) - Schedule of Interest Rates and the Effective Weighted Average Interest Rate for Classes of Financial Assets and Liabilities [Line Items] | ||
Total Financial Assets | ||
Total Financial Liabilities | ||
Trade and Other Payables [Member] | Non-Interest Bearing [Member] | ||
Financial Instruments (Details) - Schedule of Interest Rates and the Effective Weighted Average Interest Rate for Classes of Financial Assets and Liabilities [Line Items] | ||
Total Financial Assets | (3,517,708) | |
Total Financial Liabilities | (5,106,511) | |
Trade and Other Payables [Member] | 1 year or less [Member] | Fixed Interest Rate [Member] | ||
Financial Instruments (Details) - Schedule of Interest Rates and the Effective Weighted Average Interest Rate for Classes of Financial Assets and Liabilities [Line Items] | ||
Total Financial Assets | ||
Total Financial Liabilities | ||
Trade and Other Payables [Member] | 1-5 years [Member] | Fixed Interest Rate [Member] | ||
Financial Instruments (Details) - Schedule of Interest Rates and the Effective Weighted Average Interest Rate for Classes of Financial Assets and Liabilities [Line Items] | ||
Total Financial Assets | ||
Total Financial Liabilities | ||
Lease Liabilities [Member] | ||
Financial Instruments (Details) - Schedule of Interest Rates and the Effective Weighted Average Interest Rate for Classes of Financial Assets and Liabilities [Line Items] | ||
Total Financial Liabilities | (210,384) | (117,489) |
Lease Liabilities [Member] | Floating Interest Rate [Member] | ||
Financial Instruments (Details) - Schedule of Interest Rates and the Effective Weighted Average Interest Rate for Classes of Financial Assets and Liabilities [Line Items] | ||
Total Financial Liabilities | ||
Lease Liabilities [Member] | Non-Interest Bearing [Member] | ||
Financial Instruments (Details) - Schedule of Interest Rates and the Effective Weighted Average Interest Rate for Classes of Financial Assets and Liabilities [Line Items] | ||
Total Financial Liabilities | ||
Lease Liabilities [Member] | 1 year or less [Member] | Fixed Interest Rate [Member] | ||
Financial Instruments (Details) - Schedule of Interest Rates and the Effective Weighted Average Interest Rate for Classes of Financial Assets and Liabilities [Line Items] | ||
Total Financial Liabilities | (107,177) | (57,632) |
Lease Liabilities [Member] | 1-5 years [Member] | Fixed Interest Rate [Member] | ||
Financial Instruments (Details) - Schedule of Interest Rates and the Effective Weighted Average Interest Rate for Classes of Financial Assets and Liabilities [Line Items] | ||
Total Financial Liabilities | $ (103,207) | $ (59,857) |
Financial Instruments (Detail_4
Financial Instruments (Details) - Schedule of Company's Liquidity Reserve On The Basis of Expected Cash Flows - AUD ($) | Jun. 30, 2023 | Jun. 30, 2022 |
Less Than 6 Months [Member] | ||
Financial Instruments (Details) - Schedule of Company's Liquidity Reserve On The Basis of Expected Cash Flows [Line Items] | ||
Total | $ (3,571,297) | $ (5,164,143) |
Less Than 6 Months [Member] | Trade And Other Payables [Member] | ||
Financial Instruments (Details) - Schedule of Company's Liquidity Reserve On The Basis of Expected Cash Flows [Line Items] | ||
Total | (3,517,708) | (5,106,511) |
Less Than 6 Months [Member] | Lease liabilities [Member] | ||
Financial Instruments (Details) - Schedule of Company's Liquidity Reserve On The Basis of Expected Cash Flows [Line Items] | ||
Total | (53,589) | (57,746) |
6-12 Months [Member] | ||
Financial Instruments (Details) - Schedule of Company's Liquidity Reserve On The Basis of Expected Cash Flows [Line Items] | ||
Total | (53,588) | |
6-12 Months [Member] | Trade And Other Payables [Member] | ||
Financial Instruments (Details) - Schedule of Company's Liquidity Reserve On The Basis of Expected Cash Flows [Line Items] | ||
Total | ||
6-12 Months [Member] | Lease liabilities [Member] | ||
Financial Instruments (Details) - Schedule of Company's Liquidity Reserve On The Basis of Expected Cash Flows [Line Items] | ||
Total | (53,588) | |
Greater Than 12 Months and Less Than 5 Years [Member] | ||
Financial Instruments (Details) - Schedule of Company's Liquidity Reserve On The Basis of Expected Cash Flows [Line Items] | ||
Total | (103,207) | (59,857) |
Greater Than 12 Months and Less Than 5 Years [Member] | Trade And Other Payables [Member] | ||
Financial Instruments (Details) - Schedule of Company's Liquidity Reserve On The Basis of Expected Cash Flows [Line Items] | ||
Total | ||
Greater Than 12 Months and Less Than 5 Years [Member] | Lease liabilities [Member] | ||
Financial Instruments (Details) - Schedule of Company's Liquidity Reserve On The Basis of Expected Cash Flows [Line Items] | ||
Total | (103,207) | (59,857) |
Total Contracted Cash Flows [Member] | ||
Financial Instruments (Details) - Schedule of Company's Liquidity Reserve On The Basis of Expected Cash Flows [Line Items] | ||
Total | (3,728,092) | (5,224,000) |
Total Contracted Cash Flows [Member] | Trade And Other Payables [Member] | ||
Financial Instruments (Details) - Schedule of Company's Liquidity Reserve On The Basis of Expected Cash Flows [Line Items] | ||
Total | (3,517,708) | (5,106,511) |
Total Contracted Cash Flows [Member] | Lease liabilities [Member] | ||
Financial Instruments (Details) - Schedule of Company's Liquidity Reserve On The Basis of Expected Cash Flows [Line Items] | ||
Total | (210,384) | (117,489) |
Carrying Amounts [Member] | ||
Financial Instruments (Details) - Schedule of Company's Liquidity Reserve On The Basis of Expected Cash Flows [Line Items] | ||
Total | (3,728,092) | (5,224,000) |
Carrying Amounts [Member] | Trade And Other Payables [Member] | ||
Financial Instruments (Details) - Schedule of Company's Liquidity Reserve On The Basis of Expected Cash Flows [Line Items] | ||
Total | (3,517,708) | (5,106,511) |
Carrying Amounts [Member] | Lease liabilities [Member] | ||
Financial Instruments (Details) - Schedule of Company's Liquidity Reserve On The Basis of Expected Cash Flows [Line Items] | ||
Total | $ (210,384) | $ (117,489) |
Parent Entity Financial Infor_3
Parent Entity Financial Information (Details) - Schedule of Individual Financial Statements for the Parent Company - Parent [Member] - USD ($) | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Statement of financial position | ||
Current Assets | $ 27,048,773 | $ 41,144,089 |
Non-current Assets | 229,103 | 137,128 |
Total assets | 27,277,876 | 41,281,217 |
Current liabilities | (4,993,949) | (6,270,879) |
Non-current liabilities | (122,710) | (32,450) |
Total liabilities | (5,116,659) | (6,303,329) |
Shareholders’ equity | ||
Contributed equity | 213,971,323 | 213,787,061 |
Reserves | 3,972,475 | 3,565,918 |
Accumulated losses | (195,782,581) | (182,375,091) |
Total equity | 22,161,217 | 34,977,888 |
Statement of profit or loss and other comprehensive income | ||
Loss for the year | (13,967,504) | (13,019,855) |
Total comprehensive loss for the year | $ (13,967,504) | $ (13,019,855) |