Mission NewEnergy (MNELF) 20-F 15 Nov 19 2019 FY Annual report (foreign) Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Jun. 30, 2019shares
Document And Entity Information
Entity Registrant Name	Mission NewEnergy Ltd
Entity Central Index Key	0001463471
Document Type	20-F
Document Period End Date	Jun. 30, 2019
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	40,870,275
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2019

CONSOLIDATED STATEMENT OF PROFI

CONSOLIDATED STATEMENT OF PROFIT OR LOSS - AUD ($)	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017
Profit or loss [abstract]
Other income	$ 165,152	$ 1,524	$ 7,777
Total revenue	165,152	1,524	7,777
Director and employee benefits expense	0	0	(467,220)
Net foreign exchange (losses)/gains	(7,333)	(4,095)	(10,874)
Consultants' expenses	(4,175)	(6,663)	(13,017)
Regulatory expenses	(54,741)	(56,029)	(40,228)
Travel expenses	0	(1,990)	(66,488)
Rental expenses	(9,756)	(9,288)	(11,986)
Other expenses	(77,240)	(121,090)	(298,617)
Depreciation and amortisation expenses	0	(1,898)	(487)
Finance costs	0	(2,450)	0
Impairment of investment in associate	0	0	(3,608,038)
Profit/(loss) before income tax	11,907	(201,979)	(4,509,178)
Income tax expense	0	(135)	(3,252)
Net profit/(loss) before associate accounted loss	11,907	(202,114)	(4,512,430)
Share of net profit/(loss) of associate accounted for using the equity method	0	0	(38,174)
Profit/(loss) for the year after tax	11,907	(202,114)	(4,550,604)
Profit/(Loss) attributable to:
Owners of Mission NewEnergy Ltd	11,907	(202,114)	(4,550,604)
Non-controlling interests	0	0	0
Total	$ 11,907	$ (202,114)	$ (4,550,604)
Earnings per share from continuing operations attributable to the ordinary equity holders of the parent:
Basic earnings/(loss) per share (dollars)	$ .0003	$ (0.0050)	$ (0.1100)
Diluted earnings/(loss) per share (dollars)	.0003	(.0050)	(.1100)
Earnings per share from profits attributable to the ordinary equity holders of the parent:
Basic earnings/(loss) per share (dollars)	0.0003	(0.0050)	(0.1100)
Diluted earnings/(loss) per share (dollars)	$ 0.0003	$ (0.0050)	$ (0.1100)

CONSOLIDATED STATEMENT OF COMPR

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME - AUD ($)	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017
Statement of comprehensive income [abstract]
Profit/(loss) for the year	$ 11,907	$ (202,114)	$ (4,550,604)
Items that may be realised through profit or loss:
Exchange differences on translating foreign operations	(51)	2,672	(20,146)
Other comprehensive (loss)/income for the period net of tax	(51)	2,672	(20,146)
Total comprehensive profit/(loss) for the year	11,856	(199,442)	(4,570,750)
Attributable to non-controlling equity interests	0	0	0
Attributable to owners of the parent	$ 11,856	$ (199,442)	$ (4,570,750)

CONSOLIDATED STATEMENT OF FINAN

CONSOLIDATED STATEMENT OF FINANCIAL POSITION - AUD ($)		Jun. 30, 2019	Jun. 30, 2018
Current Assets
Cash and cash equivalents	[1]	$ 173,343	$ 195,601
Other assets		6,757	4,078
Total current assets		180,100	199,679
Non-Current Assets
Total non-current assets		0	0
Total assets		180,100	199,679
Current Liabilities
Trade and other payables		19,285	20,720
Short-term provisions		153,885	183,885
Total current liabilities		173,170	204,605
Net assets/(liabilities)		6,930	(4,926)
Equity
Issued capital		523,197	523,197
Reserves		1,037,274	1,187,325
Accumulated losses		(1,553,541)	(1,715,448)
Total equity/(deficit)		$ 6,930	$ (4,926)
[1]	Under the category of the financial instrument standard the cash and cash equivalent is classified as loans and receivable under IAS 39 in 2018 and is classified as a financial asset at amortised cost in 2019 under IFRS 9.

CONSOLIDATED STATEMENT OF CHANG

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY - AUD ($)	Ordinary Share Capital	Retained Earnings/(Losses)	Share Based Payments Reserve	Foreign Currency Translation Reserve	Total
Beginning balance at Jun. 30, 2017	$ 523,197	$ (1,513,334)	$ 150,000	$ 1,034,653	$ 194,516
Profit/(loss) after income tax		(202,114)			(202,114)
Other comprehensive income/(loss) for the period				2,672	2,672
Total comprehensive income/(loss)		(202,114)		2,672	(199,442)
Transactions with owners in their capacity as owners					0
Ending balance at Jun. 30, 2018	523,197	(1,715,448)	150,000	1,037,325	(4,926)
Profit/(loss) after income tax		11,907			11,907
Other comprehensive income/(loss) for the period				(51)	(51)
Total comprehensive income/(loss)		11,907		(51)	11,856
Transactions with owners in their capacity as owners		150,000	(150,000)		0
Ending balance at Jun. 30, 2019	$ 523,197	$ (1,553,541)	$ 0	$ 1,037,274	$ 6,930

CONSOLIDATED STATEMENT OF CASH

CONSOLIDATED STATEMENT OF CASH FLOWS - AUD ($)	12 Months Ended
	Jun. 30, 2019		Jun. 30, 2018		Jun. 30, 2017
Cash Flows From Operating Activities
Payments to suppliers and employees	$ (180,432)		$ (191,255)		$ (983,190)
Interest received	152		1,524		7,718
Income tax paid	(35)		(128)		(3,252)
Net cash (used in) operating activities before non-recurring RTO Fee	(180,315)		(189,859)		(978,724)
RTO exclusivity fees	165,000		0		0
Net cash (used in) operating activities	(15,315)		(189,859)		(978,724)
Cash Flows From Investing Activities
Retention released	0		0		1,056,870
Payable associated with retention released	0		0		(1,056,870)
Net cash provided from investing activities	0		0		0
Cash Flows From Financing Activities
Net cash (used) by financing activities	0		0		0
Net (decrease) in cash and cash equivalents	(15,315)		(189,859)		(978,724)
Cash and cash equivalents at beginning of the financial year	195,601	[1]	387,840		1,400,538
Effects of exchange rate fluctuations of cash held in foreign currencies	(6,943)		(2,380)		(33,974)
Cash and cash equivalents at end of financial year	$ 173,343	[1]	$ 195,601	[1]	$ 387,840
[1]	Under the category of the financial instrument standard the cash and cash equivalent is classified as loans and receivable under IAS 39 in 2018 and is classified as a financial asset at amortised cost in 2019 under IFRS 9.

1. Nature of Operations and Gen

1. Nature of Operations and General Information	12 Months Ended
	Jun. 30, 2019
Nature Of Operations And General Information
Nature of Operations and General Information	Mission NewEnergy Limited is a company domiciled in Australia (ACN: 117 065 719) and: ● listed on the ASX (MBT). Currently the shares on the ASX are in voluntary suspension; ● continues to seek an alternative business opportunity; ● that has a 20% interest in an Associate owning a 250,000 tpa (approx. 75 million gallon p.a.) biodiesel refinery, located in Malaysia. The 20% interest investment is carried at NIL value as the project has stalled due to an inability of the biodiesel refinery operating entity to secure ongoing offtake sales contracts. FGVGE borrowed money from FGV Capital Sdn Bhd in 2015 as part proceeds to acquire the refinery. FGV Capital Sdn Bhd have terminated the loan facility on 24 June 2019, which is now immediately due and payable

2. Basis of Preparation

2. Basis of Preparation	12 Months Ended
	Jun. 30, 2019
Basis Of Preparation
Basis of Preparation	Statement of compliance The financial report is a general purpose financial report which has been prepared in accordance with International Financial Reporting Standards (IFRS) and interpretations issued by the International Accounting Standards Board (IASB). Mission NewEnergy Limited is a for-profit entity for the purpose of preparing the financial statements. These accounting policies have been consistently applied by each entity in the Group and are consistent with those of the previous year. Basis of measurement The financial report has been prepared on an accruals basis and is based on historical costs. All amounts shown are in Australian dollars ($A) unless otherwise stated. Significant matters Going concern The Group incurred a net operating profit for the year ended 30 June 2019 of $11,907 (2018: $202,114 loss) and incurred net cash outflows from operating activities before non-recurring RTO fee of $180,315 (2018: $189,859 used). At 30 June 2019 the Group had net a working capital surplus of $6,930 (2018 : $4,926 deficit). At 31 October 2019 the Group had a cash balance of $93,332 and payable liabilities of around $9,050 (excluding leave liability of $153,885, which the employees have agreed not to pay down unless the Group has sufficient cash resources to pay). The Group currently has no source of income and the cash balance is not expected to be exhausted within 12 months based on the 2019/20 forecast profile prepared by management. The Company has been in trading suspension since 25 November 2016 and will likely be removed from the official ASX list on 25 November 2019 if a project or business activity is not in place by this date. The ability of the Group to continue as a going concern is dependent on identification and completion of a suitable alternate business opportunity. These conditions indicate a material uncertainty that cast a significant doubt about the Group’s ability to continue as a going concern and, therefore, that it may be unable to realise its assets and discharge its liabilities in the normal course of business. Management believe there are sufficient funds to meet the Group’s working capital requirements as at the date of this report, and that there are reasonable grounds to believe that the Group will continue as a going concern as a result of a combination of the following reasons: ● the Group has received confirmation from its employees and Directors that they have forgone all salary entitlements since 1 December 2016 and will not call on their annual leave entitlements until the Group has a clear ability to pay; and ● management expects the cash to be able to fund the organisation until a suitable alternate business opportunity is identified and completed. Should the Group not be able to continue as a going concern, it may be required to realise its assets and discharge its liabilities other than in the ordinary course of business, and at amounts that differ from those stated in the financial statements. The financial report does not include any adjustment relating to the recoverability and classification of recorded assets or liabilities that might be necessary should the entity note continue as a going concern. Carrying value of investment in associate The Group owns 100% of M2 Capital Sdn Bhd, a Malaysian subsidiary, which owns a 20% stake in FGV Green Energy Sdn Bhd (FGVGE), a refinery joint venture company (see note 15). This project has stalled and the asset is mothballed. FGVGE borrowed money from FGV Capital Sdn Bhd in 2015 as part proceeds to acquire the refinery. FGV Capital Sdn Bhd have terminated the loan facility on 24 June 2019, which is now immediately due and payable. The Board of FGVGE have met and declared an inability to repay this loan and FGVGE has impaired the carrying value of the asset during the financial year. Under the terms of the loan agreement, FGV Capital have full security over the refinery asset in the event of a default. MBT and its subsidiaries have no obligation, financial or otherwise, to meet any capital shortfall requirements of FGVGE. The Group’s investment in associate which is fully impaired (2018: fully impaired), please refer to note 15 and 16 for further information. 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 Australian Tax Office. In these circumstances the GST is recognised as part of the cost of acquisition of the asset or as part of an item of the expense. Receivables and payables in the statement of financial position are shown inclusive of GST Functional and Presentation currency The consolidated financial statements are presented in Australian Dollars. The functional currencies of the operating units are as follows: ● Malaysian investments (20% investment in Associate) - Malaysian Ringgit ● Other – Australian Dollar. The Board of Directors approved this financial report on 4 November 2019.

3. New, Revised or Amending Acc

3. New, Revised or Amending Accounting Standards and Interpretations Adopted	12 Months Ended
	Jun. 30, 2019
Disclosure of initial application of standards or interpretations [abstract]
New, Revised or Amending Accounting Standards and Interpretations Adopted	The Group has adopted all of the new, revised or amending Accounting Standards and Interpretations issued by the IASB that are mandatory for the current reporting period. The adoption of these Accounting Standards and Interpretations did not have a material impact on the financial performance or position of the consolidated entity. The changes in Accounting policies and impact on the financial statements were: ● IFRS 9 was adopted without restating comparative. ● IFRS 15 had no impact because the Group had no revenue. Any new, revised or amending Accounting Standards or Interpretations that are not yet mandatory have not been early adopted.

4. New Accounting Standards and

4. New Accounting Standards and Interpretations Not Yet Mandatory or Early Adopted	12 Months Ended
	Jun. 30, 2019
Disclosure of initial application of standards or interpretations [abstract]
New Accounting Standards and Interpretations Not Yet Mandatory or Early Adopted	Australian Accounting Standards and Interpretations that have recently been issued or amended but are not yet mandatory, have not been early adopted by the consolidated entity for period ended 30 June 2019. The consolidated entity's assessment of the impact of these new or amended Accounting Standards and Interpretations, most relevant to the consolidated entity, are set out below. IFRS16 Leases IFRS 16 eliminates the operating and finance lease classifications for lessees currently accounted for under IAS 17 Leases. It instead requires an entity to bring most leases onto its statement of financial position in a similar way to how existing finance leases are treated under IAS 17. An entity will be required to recognise a lease liability and a right of use asset in its statement of financial position for most leases. There are some optional exemptions for leases with a period of 12 months or less and for low value leases. The adoption of the leases standard did not have material impact because the group has no operating lease agreement in place. It is not expected that there will be any material impact on the financial statements when these amendments are adopted.

5. Segment Reporting

5. Segment Reporting	12 Months Ended
	Jun. 30, 2019
Disclosure of operating segments [abstract]
Segment Reporting	Segment Report – 2019 Malaysia Australia Total 2019 $ 2019 $ 2019 $ Revenue Other income - 165,152 165,152 Total segment revenue - - - Depreciation and amortisation - - - Finance costs - - - Impairment of investment in associate - - - Other expenses (9,890) (143,355) (153,245) Segment result before tax (9,890) 21,797 11,907 Income tax expense - Net profit for the year 11,907 Non-current Segment assets - - - Total Segment assets 10,899 169,201 180,100 Segment liabilities (11,335) (161,835) (173,170) Segment Report – 2018 Malaysia Australia Total 2018 $ 2018 $ 2018 $ Revenue Interest received - 1,524 1,524 Total segment revenue - 1,524 1,524 Depreciation and amortisation (1,898) - (1,898) Finance costs - (2,450) (2,450) Impairment of investment in associate - - - Other expenses (31,490) (167,665) (199,155) Segment result before tax (33,388) (168,591) (201,979 Income tax expense (135) - (135) Net (loss) for the year (202,114) Non-current Segment assets - - - Total Segment assets 9,844 189,835 199,679 Segment liabilities (340) (204,265) (204,605) Accounting Policies: Segment reporting The Group Chief Executive Officer is the Chief operating decision maker. The reportable segments presented are in line with the segmental information reported during the financial year to the Group Chief Executive Officer. Segment revenues and expenses are those directly attributable to the segments and include any joint revenue and expenses where a reasonable basis of allocation exists. Segment assets include all assets used by a segment and consist principally of cash, receivables, inventories, intangibles and property, plant and equipment, net of allowances and accumulated depreciation and amortisation. Segment liabilities consist principally of payables, employee benefits, accrued expenses and borrowings. Segment assets and liabilities do not include deferred income taxes. Segments exclude discontinued operations. Intersegment Transfers: Business and Geographical Segments:

6. Other Income

6. Other Income	12 Months Ended
	Jun. 30, 2019
Analysis of income and expense [abstract]
Other Income	2019 $ 2018 $ 2017 $ Proceeds from RTO activities 165,000 - - Interest income 152 1,524 7,777 165,152 1,524 7,777

7. Expenses

7. Expenses	12 Months Ended
	Jun. 30, 2019
Analysis of income and expense [abstract]
Expenses	2019 $ 2018 $ 2017 $ 7a) Director and Employee benefits expense Wages and Salaries - - 450,318 Contribution to defined contribution plans - - 16,902 - - 467,220 7b) Other expenses: - Audit fees 27,359 26,816 46,748 Computer maintenance & consumables 362 - 592 Communication expenses 5,984 7,976 14,725 Insurance costs 25,732 58,192 78,004 Legal fees 4,083 14,787 52,508 Due diligence costs - - 73,145 Other administrative costs 13,720 13,319 32,895 Total 77,240 121,090 298,617

8. Income Tax

8. Income Tax	12 Months Ended
	Jun. 30, 2019
Income Tax
Income Tax	2019 $ 2018 $ 2017 $ a. The components of tax expense comprise Current tax - (135) (3,252) Deferred tax - - - - (135) (3,252) b. The prima facie tax on the profit/(loss) from ordinary activities before income tax is reconciled to the income tax as follows: Accounting profit/(loss) before tax 11,907 (201,979) (4,509,178) Prima facie tax (benefit on profit/(loss) from ordinary activities before income tax at 27.5% 3,275 (55,544 (1,352,753) Adjusted for: Tax effect of: ● - 55,409 1,349,501 ● (3,275) - - - (135) (3,252) Add: Over provision for income tax in prior year - - Income tax attributable to entity - (135) (3,252) The applicable weighted average effective current tax rate is as follows: 0 % 0 % 0 % Deferred tax assets on temporary differences and losses are not recognised because it is not probable that future taxable profit will be available against which the unused tax losses can be used and may be subject to continuity of ownership and business test. At both period ends the Group has not recognised any current or deferred tax liabilities or assets. Deferred tax assets on losses to a value of $2.9 million (2018: $2.9 million) to date are not brought to account due to not being probable of being recovered. In addition, deferred tax assets for deductible temporary differences of A$2.9 million (2018: A$3.1 million). Accounting Policy: Income Tax The charge for current income tax expense is based on the profit/(loss) for the year adjusted for any non-assessable or disallowed items. It is calculated using the tax rates that have been enacted or are substantially enacted by the reporting date. Deferred tax is accounted for using the balance sheet liability method in respect of temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements. No deferred income tax will be recognised from the initial recognition of an asset or liability, excluding a business combination, where there is no effect on accounting or taxable profit or loss. Deferred tax is calculated at the tax rates that are expected to apply to the period when the asset is realised or liability is settled. Deferred tax is credited in the Statement of profit or loss, except where it relates to items that may be credited directly to equity, in which case the deferred tax is adjusted directly against equity. Deferred income tax assets are recognised to the extent that it is probable that future tax profits will be available against which deductible temporary differences can be utilised. The amount of benefits brought to account or which may be realised in the future is based on the assumption that no adverse change will occur in income taxation legislation and the anticipation that the Group will derive sufficient future assessable income to enable the benefit to be realised and comply with the conditions of deductibility imposed by the law.

9. Earnings per Share

9. Earnings per Share	12 Months Ended
	Jun. 30, 2019
Earnings per share from profits attributable to the ordinary equity holders of the parent:
Earnings per Share	a. Reconciliation of earnings to profit or loss Earnings used in calculation of both ordinary and dilutive EPS 11,907 (202,114 ) (4,550,604 ) b. Earnings used in calculation of both ordinary and dilutive EPS for ongoing operations 11,907 (202,114 ) (4,550,604 ) c. Weighted average number of ordinary shares outstanding during the year used in calculating basic EPS 40,870,275 40,870,275 40,870,275 Effect of: Weighted average number of ordinary shares outstanding during the year used in calculating dilutive EPS 40,870,275 40,870,275 40,870,275 Accounting policy: Earnings per share Basic earnings per share are calculated by dividing the profit attributable to owners of the company, excluding costs of servicing equity other than ordinary shares, by the weighted average number of ordinary shares outstanding during the financial year. Diluted earnings per share adjusts the figures used in the determination of basic earnings per share to take into account the after tax effect of interest and other financing costs associated with the dilutive potential ordinary shares, and the weighted average number of additional ordinary shares that would have been outstanding assuming the conversion of all dilutive potential ordinary shares.

10. Cash and Cash Equivalents

10. Cash and Cash Equivalents	12 Months Ended
	Jun. 30, 2019
Cash and cash equivalents [abstract]
Cash and Cash Equivalents	2019 $ 2018 $ 2017 $ Cash at bank and in hand 169,795 102,705 147,673 Short-term bank deposits 3,548 92,896 240,167 173,343 195,601 387,840 See note 17, Financial Instruments, for information on risk exposures for cash and cash equivalents. Accounting policy: Cash and Cash Equivalents Cash and cash equivalents include cash on hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of 3 months or less.

11. Trade and Other Payables

11. Trade and Other Payables	12 Months Ended
	Jun. 30, 2019
Trade and other payables [abstract]
Trade and Other Payables	CURRENT 2019 $ 2018 $ Unsecured liabilities: Trade payables 4,732 9,730 Sundry payables and accrued expenses 14,553 10,990 19,285 20,720

12. Provisions

12. Provisions	12 Months Ended
	Jun. 30, 2019
Provisions [abstract]
Provisions	CURRENT Provision for leave 153,885 183,885 153,885 183,885 The group has received confirmation from its employees and Directors that they will not call on their annual leave entitlements until the group has a clear ability to pay. During the year the company settled $30,000 of accrued leave liabilities.

13. Issued Capital

13. Issued Capital	12 Months Ended
	Jun. 30, 2019
Disclosure of classes of share capital [abstract]
Issued Capital	Fully paid ordinary shares (Issued and authorised) 2019 Number 2019 $ 2018 Number 2018 $ At the beginning of reporting period 40,870,275 523,197 40,870,275 523,197 Ordinary shares issued - - - - At reporting date 40,870,275 523,197 40,870,275 523,197 Ordinary shares participate in dividends and the proceeds on winding up of the parent entity in proportion to the number of shares held. At shareholder meetings each ordinary share is entitled to one vote when a poll is called, otherwise each shareholder has one vote on a show of hands. There were no warrants, performance rights or options in existence at reporting date. Accounting policy: Contributed equity Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new shares are shown in equity as a deduction, net of tax, from the proceeds.

14. Cash Flow Information

14. Cash Flow Information	12 Months Ended
	Jun. 30, 2019
Cash Flows From Operating Activities
Cash Flow Information	Reconciliation of Cash Flow from Operations with Profit/(Loss) after Income Tax 2019 $ 2018 $ 2017 $ Profit/(Loss) after income tax 11,907 (202,114) (4,550,604) Non cash flows in profit / (loss) Depreciation of plant and equipment – continued operations - 1,898 487 Share of net loss/(profit) of associate - - 38,174 Provision for employee benefits (2,826) Other non cash adjustments - - 4,436 Current tax liabilities (35) - - Impairment of associate (318) - 3,608,038 Net cash (used in) operating activities before change in assets and liabilities 11,554 (200,216) (902,295) Change in assets and liabilities Decrease in receivables - - 1,091 (Increase) / decrease in other assets (2,557) 6,471 (4,691) (Increase) in creditors and accruals (1,427) (377) (87,870) Decrease in provisions (30,000) - - Foreign Currency Adjustments 7,115 4,263 15,041 (26,869) 10,357 (76,429) Cash (used in) operations (15,315) (189,859) (978,724) There were no non-cash investing activities during the reported periods. Cash flows are presented in the statement of cash flows on a gross basis, except for the GST component of investing and financing activities, which are disclosed as operating cash flows. GROUP STRUCTURE This section provides information which will help users understand how the group structure affects the financial position and performance of the group as a whole. In particular, there is information about: ● changes to the structure that occurred during the year as a result of business combinations and the disposal of a discontinued operation ● transactions with non-controlling interests and interests in joint ventures. A list of subsidiaries is provided in note 15. This note also discloses details about the group’s equity accounted investments.

15. Investments in Subsidiaries

15. Investments in Subsidiaries, Unconsolidated Entities and Associates	12 Months Ended
	Jun. 30, 2019
Investments in subsidiaries, joint ventures and associates [abstract]
Investments in Subsidiaries, Unconsolidated Entities and Associates	(a) Subsidiaries The Group’s subsidiaries at 30 June 2019 are set out below. Unless otherwise stated, they have share capital consisting solely of ordinary shares that are held directly by the Group, and the proportion of ownership interests held equals the voting rights held by the Group. The country of incorporation or registration is also their principal place of business. Percentage Owned (%) Ownership interest held by non-controlling interests Country of Incorporation 2019 2018 2019 2018 Principal activities A. Controlled Entities Consolidated Parent Entity: Mission NewEnergy Limited Australia Subsidiaries of Mission NewEnergy Limited: Mission Biofuels Sdn Bhd Malaysia 100 100 - - Administrative entity M2 Capital Sdn Bhd Malaysia 100 100 - - Holds 20% of FGV Green Energy SB B. Associates Felda Green Energy Sdn Bhd Malaysia 20 20 80 80 Biodiesel refining Set out below is the associate of the group as at 30 June 2019. The entity listed below has share capital consisting solely of ordinary shares, which are held directly by the group. The country of incorporation or registration is also their principal place of business, and the proportion of ownership interest is the same as the proportion of voting rights held. Name of entity Country of Incorporation Percentage Owned (%) Nature of relationship Measurement method Carrying amount ($) 2019 2018 2019 2018 FGV Green Energy Sdn Bhd Malaysia 20 20 Associate Equity method - - Summarised statement of comprehensive income FGV Green Energy Sdn Bhd 2019 2018 (Loss) from operations (35,914,990) (194,886) The Groups share of (Loss)/profit from operations - - Summarised statement of financial position FGV Green Energy Sdn Bhd 2019 2018 Cash and cash equivalents 11,374 16,496 Other current assets 52,490 85,209 Non-current assets – written to NIL during the financial year - 37,852,240 Current liabilities (24,340,686) (21,967,251) Non-current financial liabilities - - Net (Liabilities)/Assets (24,276,822) 15,986,694 Accounting policy: Principles of Consolidation The consolidated financial statements comprise the financial statements of Mission NewEnergy Limited and its subsidiaries, as defined in Accounting Standard IFRS 127 ‘Consolidated and Separate Financial Statements’. These include Mission Biofuels Sdn Bhd and M2 Capital Sdn Bhd. A list of controlled and associate entities with details of acquisitions and disposals is contained in this note. All controlled entities have a 30 June financial year-end. The Associate company has a 31 December year end. All inter-company balances and transactions between entities in the Consolidated Group, including any unrealised profits or losses, have been eliminated on consolidation. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies applied by the parent entity. Where controlled entities have entered or left the Consolidated Group during the year, their operating results have been included/excluded from the date control was obtained or until the date control ceased. Non-controlling interests in the equity and results of the entities that are controlled are shown as a separate item in the consolidated financial report. Foreign Currency Transactions and Balances Functional and presentation currency The functional currency of each of the Group’s entities is measured using the currency of the primary economic environment in which that entity operates. The consolidated financial statements are presented in Australian dollars which is the parent entity’s functional and presentation currency. Transaction and balances Foreign currency transactions are translated into functional currency using the exchange rates prevailing at the date of the transaction. Foreign currency monetary items are translated at the year-end exchange rate. Non-monetary items measured at historical cost continue to be carried at the exchange rate at the date of the transaction. Non-monetary items measured at fair value are reported at the exchange rate at the date when fair values were determined. Exchange differences arising on the translation of monetary items are recognised in the Statement of profit or loss, except where deferred in equity as a qualifying cash flow or net investment hedge. Exchange differences arising on the translation of non-monetary items are recognised directly in equity to the extent that the gain or loss is directly recognised in equity, otherwise the exchange difference is recognised in the Statement of Profit or Loss. Group companies The financial results and position of foreign operations whose functional currency is different from the Group’s presentation currency are translated as follows: ● ● ● Exchange differences arising on translation of foreign operations are transferred directly to the Group’s foreign currency translation reserve in the statement of financial position. These differences are recognised in the Statement of Profit or Loss in the period in which the operation is disposed. RISK This section of the notes discusses the groups exposure to various risks and shows how these could affect the Groups financial position and performance.

16. Critical Accounting Estimat

16. Critical Accounting Estimates and Judgments	12 Months Ended
	Jun. 30, 2019
Disclosure of changes in accounting estimates [abstract]
Critical Accounting Estimates and Judgments	The preparation of annual financial reports requires the Board to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities, income and expenses. The Board evaluates estimates and judgments incorporated into the financial report based on historical knowledge and best available current information. Estimates assume a reasonable expectation of future events and are based on current trends and economic data, obtained both externally and within the Group. Actual results may differ from these estimates. Except as described below, in preparing this consolidated financial report, the significant judgements made by management in applying the Group’s accounting policies and the key sources of estimation uncertainty were the same as those that were applied to the consolidated financial report as at end for the year ended 30 June 2019. During the twelve months ended 30 June 2019 management reviewed its estimates in respect of: Impairment of assets The Group assesses impairment of assets at each reporting date by evaluating conditions specific to the Group that may lead to impairment. Where an impairment trigger exists, the recoverable amount of the asset is determined. Investments in subsidiaries Investments held by the parent entity, Mission NewEnergy Limited, are reviewed for impairment if there is any indication that the carrying amount may not be recoverable. The recoverable amount is assessed by reference to the higher of ‘value in use’ (being the net present value of expected future cash flows of the relevant cash generating unit) and ‘fair value less costs to sell’. In line with the impairment of the carrying value of assets in the subsidiaries, the parent entity has impaired the value of all subsidiaries to zero. This accounting adjustment has no impact on the cash flows or the Consolidated Financial Statements of the Group. Refer to note 24: Parent Information for further details. Investments in associates/Non-Current Assets held for sale The Group owns 100% of M2 Capital Sdn Bhd, a Malaysian subsidiary, which owns a 20% stake in FGV Green Energy Sdn Bhd (FGVGE), a refinery joint venture company. Investments in associates held by the parent entity, Mission NewEnergy Limited, are reviewed for impairment if there is any indication that the carrying amount may not be recoverable. In assessing the carrying value of the investment, the following factors were considered by the Directors: o Mission does not hold a refining asset, however it holds a 20% share in the refining JV, o This refining JV is not a listed publicly traded entity with a readily determinable share price, nor is there a ready market to sell the 20% holding, o Mission does not have the voting or management rights to force any actions on the JV company, (be that to commence refurbishment, sell the asset as a going concern or for sell for scrap value), o Should the JV company require further equity funding to undertake the refurbishment the group has insufficient current cash proceeds to protect its equity position and hence our shareholding position would likely be diluted, o FGVGE borrowed money from FGV Capital Sdn Bhd in 2015 as part proceeds to acquire the refinery. FGV Capital Sdn Bhd have terminated the loan facility on 24 June 2019, which is now immediately due and payable. The Board of FGVGE have met and declared an inability to repay this loan. Under the terms of the loan agreement, FGV Capital have full security over the refinery asset in the event of a default. MBT and its subsidiaries have no obligation, financial or otherwise, to meet any capital shortfall requirements of FGVGE. Accordingly the Directors deemed it prudent to impair the carrying value of the investment to NIL in a prior financial year. Should the Group sell the refinery an impairment reversal is expected to be recognised in the financial records of the Group. As the project remains stalled and mothballed at 30 June 2019, the carrying value is retained at NIL. 2019 2018 $ $ Impairment of investment in associate - - - -

17. Financial Instruments and F

17. Financial Instruments and Financial Risk Management	12 Months Ended
	Jun. 30, 2019
Disclosure of detailed information about financial instruments [abstract]
Financial Instruments and Financial Risk Management	Financial Risk Management The Group has a financial risk management policy in place and the financial risks are overseen by the Board. The Group’s financial instruments consist mainly of deposits with banks, other financial assets and accounts payable. The principal risks the Group is exposed to through its financial instruments are interest rate risk, foreign currency risk, liquidity risk and credit risk. The Group does not have any financial assets carried at fair value therefore no further disclosure in relation to the fair value hierarchy is presented. In addition the group does not have any financial instruments that are subject to recurring or non-recurring fair value measurements. As at 30 June 2019 and 30 June 2018 the group held the following financial instruments: 2019 $ 2018 $ Financial assets Cash and cash equivalents* 173,343 195,601 Financial liabilities Trade and other payables 19,285 20,720 * Under the category of the financial instrument standard the cash and cash equivalent is classified as loans and receivable under IAS 39 in 2018 and is classified as a financial asset at amortised cost in 2019 under IFRS 9. The fair value of cash and cash equivalents, trade and other payables are short-term instruments in nature whose carrying value is equivalent to fair value. Interest rate risk There is no interest rate risk given there are no material deposits held at a floating rate. Foreign currency risk The Group holds its 20% share of the refinery through a number of international subsidiaries and is thus exposed to fluctuations in foreign currencies, arising from the foreign currencies held in its bank accounts, and the translation of results from the international subsidiaries. The foreign exchange exposures are primarily to the Malaysian Ringgit and the US dollar. Foreign currency risks arising from commitments in foreign currencies are managed by holding cash in that currency. Foreign currency translation risk is not hedged, with translation differences being reflected in the foreign currency translation reserve. Group sensitivity At 30 June 2019, if foreign currencies had changed by -/+ 10%, with all other variables held constant, the following financial impacts would have been recorded by the Group; Effect on cash and cash equivalent – A$5,748 lower / A$7,026 higher (2018: A$11,238 lower / A$9,194 higher) Profit or Loss would have been – A$5,748 lower / A$7,026 higher (2018: A$11,238 lower / A$9,194 higher) Hedging of Foreign Currency Risk At financial report date the Group had no forward exchange contracts in place. Credit risk The following table sets out the credit quality of financial assets: 2019 $ 2018 $ Cash and Cash Equivalents Counterparties with external credit rating (Standard and Poors) A-1+ (Australian) 166,644 189,836 P-2 (Malaysia) 6,699 5,765 173,343 195,601 Commodity Risk As there was no inventory held as at 30 June 2019, the Group has no direct exposure to market prices of input costs into the production of biodiesel. Liquidity risk Weighted Average Interest Rate 2019 2018 2019 2018 $ $ % % Financial Assets: Cash and cash equivalents 173,343 195,601 1.26 % 1.02 173,343 195,601 Financial Liabilities: Current liabilities 173,170 204,605 The Group manages liquidity risk by monitoring forecast cash flows and ensuring that adequate cash is maintained to meet known liabilities. The Group has no current source of income and has negotiated with key management personnel to not take salaries or Directors fees. Accounting policy: Financial Instruments Recognition Financial instruments are initially measured at fair value on trade date, which includes transaction costs (except where the instrument is classified as ‘fair value through profit or loss’ in which case transaction costs are expensed to profit or loss immediately), when the related contractual rights or obligations exist. Subsequent to initial recognition these instruments are measured as set out below.

18. Capital Management

18. Capital Management	12 Months Ended
	Jun. 30, 2019
Capital Management
Capital Management	Management controls the capital of the Group in order to maintain an appropriate debt to equity ratio, provide the shareholders with adequate returns and ensure that the Group can fund its operations and continue as a going concern. Due to the stage that the business is in, managements approach would be to fund the business with equity where required. Management reviews historic and forecast cash flows on a regular basis in order to determine funding needs. The Group has no debt and capital includes ordinary share capital, supported by financial assets. UNRECOGNISED ITEMS This section of the notes provides information about items that are not recognised in the financial statements as they do not (yet) satisfy the recognition criteria.

19. Capital and Leasing Commitm

19. Capital and Leasing Commitments	12 Months Ended
	Jun. 30, 2019
Capital commitments [abstract]
Capital and Leasing Commitments	The group has no operating lease or capital expenditure commitments.

20. Contingent Liabilities and

20. Contingent Liabilities and Contingent Assets	12 Months Ended
	Jun. 30, 2019
Contingent Liabilities And Contingent Assets
Contingent Liabilities and Contingent Assets	The Group is not aware of any contingent liabilities or contingent assets as at 30 June 2019 .

21. Events Occurring After the

21. Events Occurring After the Reporting Period	12 Months Ended
	Jun. 30, 2019
Disclosure of non-adjusting events after reporting period [abstract]
Events Occurring After the Reporting Period	There have been no significant subsequent events up until the date of signing this Financial Report. OTHER INFORMATION This section of the notes includes other information that must be disclosed to comply with the accounting standards and other pronouncements, but that is not immediately related to individual line items in the financial statements.

22. Remuneration of Auditors

22. Remuneration of Auditors	12 Months Ended
	Jun. 30, 2019
Auditor's remuneration [abstract]
Remuneration of Auditors	2019 $ 2018 $ Audit services Remuneration of the auditor of the parent entity for: ● 27,359 26,816

23. Related Parties

23. Related Parties	12 Months Ended
	Jun. 30, 2019
Disclosure of transactions between related parties [abstract]
Related Parties	During the period a subsidiary in the Group leased a portion of office space from a company owned by the Chief Executive Officer at a cost of around A$650 per month. The lease is on a month to month basis. There were no other transactions with related parties during the period other than with subsidiaries which were 100% wholly owned. Key management personnel compensation 2019 $ 2018 $ Short-term employee benefits - - Post-employment benefits - - - - Detailed remuneration disclosures are provided in the remuneration report on pages 5 to 11. During the financial year, the Company settled $30,000 of accrued leave liabilities owing to the three Directors.

24. Parent Entity Information

24. Parent Entity Information	12 Months Ended
	Jun. 30, 2019
Parent Entity Information
Parent Entity Information	2019 2018 Information relating to Mission NewEnergy Limited: $ Current assets 169,201 189,835 Non-current assets - - Total assets 169,201 189,835 Current liabilities (161,835 ) (204,265 ) Total liabilities (161,835 ) (204,265 ) Net asset surplus / (deficit) 7,366 (14,430 ) Issued capital 418,635 418,635 Opening Retained (Loss) (433,065 ) (410,755 ) Share based payments reserve - 150,000 Total shareholders’ equity (surplus)/deficit (14,430 ) 157,880 Profit/(Loss) of the parent entity during the year 21,796 (172,310 ) Total shareholders’ equity deficit/(surplus) 7,366 (14,430 ) 2019 $ 2018 $ Details of any contingent liabilities of the parent entity - - Details of any contractual commitments by the parent entity for the acquisition of property, plant or equipment. - - The parent entity is not aware of any other contingent liabilities or contingent assets as at 30 June 2019 .

25. Company Details

25. Company Details	12 Months Ended
	Jun. 30, 2019
Company Details
Company Details	The registered office of the company is: Mission NewEnergy Limited, Unit B9, 431 Roberts Road, Subiaco, WA 6008, Australia. The principal places of business are: Australia Mission NewEnergy Limited Malaysia Mission Biofuels Sdn Bhd M2 Capital Sdn Bhd No 5E Nadayu 28 Dagang Jalan PJS 11/7 Bandar Sunway 47500 Subang Jaya Selangor, Malaysia

26. Authorisation of Financial

26. Authorisation of Financial Statements	12 Months Ended
	Jun. 30, 2019
Authorisation Of Financial Statements
Authorisation of Financial Statements	The consolidated financial statements for the year ended 30 June 2019 (including comparatives) were approved by the Board of Directors on 4 November 2019.

5. Segment Reporting (Tables)

5. Segment Reporting (Tables)	12 Months Ended
	Jun. 30, 2019
Disclosure of operating segments [abstract]
Segment information	Segment Report – 2019 Malaysia Australia Total 2019 $ 2019 $ 2019 $ Revenue Other income - 165,152 165,152 Total segment revenue - - - Depreciation and amortisation - - - Finance costs - - - Impairment of investment in associate - - - Other expenses (9,890) (143,355) (153,245) Segment result before tax (9,890) 21,797 11,907 Income tax expense - Net profit for the year 11,907 Non-current Segment assets - - - Total Segment assets 10,899 169,201 180,100 Segment liabilities (11,335) (161,835) (173,170) Segment Report – 2018 Malaysia Australia Total 2018 $ 2018 $ 2018 $ Revenue Interest received - 1,524 1,524 Total segment revenue - 1,524 1,524 Depreciation and amortisation (1,898) - (1,898) Finance costs - (2,450) (2,450) Impairment of investment in associate - - - Other expenses (31,490) (167,665) (199,155) Segment result before tax (33,388) (168,591) (201,979 Income tax expense (135) - (135) Net (loss) for the year (202,114) Non-current Segment assets - - - Total Segment assets 9,844 189,835 199,679 Segment liabilities (340) (204,265) (204,605)

6. Other Income (Tables)

6. Other Income (Tables)	12 Months Ended
	Jun. 30, 2019
Analysis of income and expense [abstract]
Other Income	2019 $ 2018 $ 2017 $ Proceeds from RTO activities 165,000 - - Interest income 152 1,524 7,777 165,152 1,524 7,777

7. Expenses (Tables)

7. Expenses (Tables)	12 Months Ended
	Jun. 30, 2019
Analysis of income and expense [abstract]
Expenses	2019 $ 2018 $ 2017 $ 7a) Director and Employee benefits expense Wages and Salaries - - 450,318 Contribution to defined contribution plans - - 16,902 - - 467,220 7b) Other expenses: - Audit fees 27,359 26,816 46,748 Computer maintenance & consumables 362 - 592 Communication expenses 5,984 7,976 14,725 Insurance costs 25,732 58,192 78,004 Legal fees 4,083 14,787 52,508 Due diligence costs - - 73,145 Other administrative costs 13,720 13,319 32,895 Total 77,240 121,090 298,617

8. Income Tax (Tables)

8. Income Tax (Tables)	12 Months Ended
	Jun. 30, 2019
Income Tax
Components of tax expense	2019 $ 2018 $ 2017 $ a. The components of tax expense comprise Current tax - (135) (3,252) Deferred tax - - - - (135) (3,252)
Income tax reconciliation	b. The prima facie tax on the profit/(loss) from ordinary activities before income tax is reconciled to the income tax as follows: Accounting profit/(loss) before tax 11,907 (201,979) (4,509,178) Prima facie tax (benefit on profit/(loss) from ordinary activities before income tax at 27.5% 3,275 (55,544 (1,352,753) Adjusted for: Tax effect of: ● - 55,409 1,349,501 ● (3,275) - - - (135) (3,252) Add: Over provision for income tax in prior year - - Income tax attributable to entity - (135) (3,252) The applicable weighted average effective current tax rate is as follows: 0 % 0 % 0 %

9. Earnings per Share (Tables)

9. Earnings per Share (Tables)	12 Months Ended
	Jun. 30, 2019
Earnings per share from profits attributable to the ordinary equity holders of the parent:
Reconciliation of earnings to profit or loss	a. Reconciliation of earnings to profit or loss Earnings used in calculation of both ordinary and dilutive EPS 11,907 (202,114 ) (4,550,604 ) b. Earnings used in calculation of both ordinary and dilutive EPS for ongoing operations 11,907 (202,114 ) (4,550,604 ) c. Weighted average number of ordinary shares outstanding during the year used in calculating basic EPS 40,870,275 40,870,275 40,870,275 Effect of: Weighted average number of ordinary shares outstanding during the year used in calculating dilutive EPS 40,870,275 40,870,275 40,870,275

10. Cash and Cash Equivalents (

10. Cash and Cash Equivalents (Tables)	12 Months Ended
	Jun. 30, 2019
Cash and cash equivalents [abstract]
Cash and cash equivalents	2019 $ 2018 $ 2017 $ Cash at bank and in hand 169,795 102,705 147,673 Short-term bank deposits 3,548 92,896 240,167 173,343 195,601 387,840

11. Trade and Other Payables (T

11. Trade and Other Payables (Tables)	12 Months Ended
	Jun. 30, 2019
Trade and other payables [abstract]
Trade and other payables	CURRENT 2019 $ 2018 $ Unsecured liabilities: Trade payables 4,732 9,730 Sundry payables and accrued expenses 14,553 10,990 19,285 20,720

12. Provisions (Tables)

12. Provisions (Tables)	12 Months Ended
	Jun. 30, 2019
Provisions [abstract]
Provisions	CURRENT Provision for leave 153,885 183,885 153,885 183,885

13. Issued Capital (Tables)

13. Issued Capital (Tables)	12 Months Ended
	Jun. 30, 2019
Disclosure of classes of share capital [abstract]
Ordinary shares	Fully paid ordinary shares (Issued and authorised) 2019 Number 2019 $ 2018 Number 2018 $ At the beginning of reporting period 40,870,275 523,197 40,870,275 523,197 Ordinary shares issued - - - - At reporting date 40,870,275 523,197 40,870,275 523,197

14. Cash Flow Information (Tabl

14. Cash Flow Information (Tables)	12 Months Ended
	Jun. 30, 2019
Cash Flows From Operating Activities
Cash flow information	Reconciliation of Cash Flow from Operations with Profit/(Loss) after Income Tax 2019 $ 2018 $ 2017 $ Profit/(Loss) after income tax 11,907 (202,114) (4,550,604) Non cash flows in profit / (loss) Depreciation of plant and equipment – continued operations - 1,898 487 Share of net loss/(profit) of associate - - 38,174 Provision for employee benefits (2,826) Other non cash adjustments - - 4,436 Current tax liabilities (35) - - Impairment of associate (318) - 3,608,038 Net cash (used in) operating activities before change in assets and liabilities 11,554 (200,216) (902,295) Change in assets and liabilities Decrease in receivables - - 1,091 (Increase) / decrease in other assets (2,557) 6,471 (4,691) (Increase) in creditors and accruals (1,427) (377) (87,870) Decrease in provisions (30,000) - - Foreign Currency Adjustments 7,115 4,263 15,041 (26,869) 10,357 (76,429) Cash (used in) operations (15,315) (189,859) (978,724)

15. Investments in Subsidiari_2

15. Investments in Subsidiaries, Unconsolidated Entities and Associates (Tables)	12 Months Ended
	Jun. 30, 2019
Investments in subsidiaries, joint ventures and associates [abstract]
Controlled entities	Percentage Owned (%) Ownership interest held by non-controlling interests Country of Incorporation 2019 2018 2019 2018 Principal activities A. Controlled Entities Consolidated Parent Entity: Mission NewEnergy Limited Australia Subsidiaries of Mission NewEnergy Limited: Mission Biofuels Sdn Bhd Malaysia 100 100 - - Administrative entity M2 Capital Sdn Bhd Malaysia 100 100 - - Holds 20% of FGV Green Energy SB B. Associates Felda Green Energy Sdn Bhd Malaysia 20 20 80 80 Biodiesel refining
Associates	Name of entity Country of Incorporation Percentage Owned (%) Nature of relationship Measurement method Carrying amount ($) 2019 2018 2019 2018 FGV Green Energy Sdn Bhd Malaysia 20 20 Associate Equity method - -
Associates summarized financial statements	Summarised statement of comprehensive income FGV Green Energy Sdn Bhd 2019 2018 (Loss) from operations (35,914,990) (194,886) The Groups share of (Loss)/profit from operations - - Summarised statement of financial position FGV Green Energy Sdn Bhd 2019 2018 Cash and cash equivalents 11,374 16,496 Other current assets 52,490 85,209 Non-current assets – written to NIL during the financial year - 37,852,240 Current liabilities (24,340,686) (21,967,251) Non-current financial liabilities - - Net (Liabilities)/Assets (24,276,822) 15,986,694

16. Critical Accounting Estim_2

16. Critical Accounting Estimates and Judgments (Tables)	12 Months Ended
	Jun. 30, 2019
Disclosure of changes in accounting estimates [abstract]
Impairment of investment in associate	2019 2018 $ $ Impairment of investment in associate - - - -

17. Financial Instruments and_2

17. Financial Instruments and Financial Risk Management (Tables)	12 Months Ended
	Jun. 30, 2019
Disclosure of detailed information about financial instruments [abstract]
Financial instruments	2019 $ 2018 $ Financial assets Cash and cash equivalents* 173,343 195,601 Financial liabilities Trade and other payables 19,285 20,720 * Under the category of the financial instrument standard the cash and cash equivalent is classified as loans and receivable under IAS 39 in 2018 and is classified as a financial asset at amortised cost in 2019 under IFRS 9.
Credit risk	2019 $ 2018 $ Cash and Cash Equivalents Counterparties with external credit rating (Standard and Poors) A-1+ (Australian) 166,644 189,836 P-2 (Malaysia) 6,699 5,765 173,343 195,601
Liquidity risk	Weighted Average Interest Rate 2019 2018 2019 2018 $ $ % % Financial Assets: Cash and cash equivalents 173,343 195,601 1.26 % 1.02 173,343 195,601 Financial Liabilities: Current liabilities 173,170 204,605

22. Remuneration of Auditors (T

22. Remuneration of Auditors (Tables)	12 Months Ended
	Jun. 30, 2019
Auditor's remuneration [abstract]
Remuneration of auditors	2019 $ 2018 $ Audit services Remuneration of the auditor of the parent entity for: ● 27,359 26,816

23. Related Parties (Tables)

23. Related Parties (Tables)	12 Months Ended
	Jun. 30, 2019
Disclosure of transactions between related parties [abstract]
Key management personnel compensation	2019 $ 2018 $ Short-term employee benefits - - Post-employment benefits - - - -

24. Parent Entity Information (

24. Parent Entity Information (Tables)	12 Months Ended
	Jun. 30, 2019
Parent Entity Information
Parent entity financial information	2019 2018 Information relating to Mission NewEnergy Limited: $ Current assets 169,201 189,835 Non-current assets - - Total assets 169,201 189,835 Current liabilities (161,835 ) (204,265 ) Total liabilities (161,835 ) (204,265 ) Net asset surplus / (deficit) 7,366 (14,430 ) Issued capital 418,635 418,635 Opening Retained (Loss) (433,065 ) (410,755 ) Share based payments reserve - 150,000 Total shareholders’ equity (surplus)/deficit (14,430 ) 157,880 Profit/(Loss) of the parent entity during the year 21,796 (172,310 ) Total shareholders’ equity deficit/(surplus) 7,366 (14,430 ) 2019 $ 2018 $ Details of any contingent liabilities of the parent entity - - Details of any contractual commitments by the parent entity for the acquisition of property, plant or equipment. - -

25. Company Details (Tables)

25. Company Details (Tables)	12 Months Ended
	Jun. 30, 2019
Company Details
Company details	Australia Mission NewEnergy Limited Malaysia Mission Biofuels Sdn Bhd M2 Capital Sdn Bhd No 5E Nadayu 28 Dagang Jalan PJS 11/7 Bandar Sunway 47500 Subang Jaya Selangor, Malaysia

2. Basis of Preparation (Detail

2. Basis of Preparation (Details Narrative) - AUD ($)	12 Months Ended
	Jun. 30, 2019		Jun. 30, 2018		Jun. 30, 2017	Jun. 30, 2016
Basis Of Preparation
Profit/(loss) for the year	$ 11,907		$ (202,114)		$ (4,550,604)
Net cash (used in) operating activities before non-recurring RTO Fee	(180,315)		(189,859)		(978,724)
Working capital	6,930		(4,926)
Cash and cash equivalents	$ 173,343	[1]	$ 195,601	[1]	$ 387,840	$ 1,400,538
[1]	Under the category of the financial instrument standard the cash and cash equivalent is classified as loans and receivable under IAS 39 in 2018 and is classified as a financial asset at amortised cost in 2019 under IFRS 9.

5. Segment Reporting (Details)

5. Segment Reporting (Details) - AUD ($)	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017
Revenue
Other income	$ 165,152
Interest received		$ 1,524
Total segment revenue	165,152	1,524	$ 7,777
Depreciation and amortisation	0	(1,898)	(487)
Finance costs	0	(2,450)	0
Impairment of investment in associate	0	0	(3,608,038)
Other expenses	(153,245)	(199,155)
Segment result before tax	11,907	(201,979)
Income tax expense	0	(135)	(3,252)
Profit/(loss) for the year	11,907	(202,114)	$ (4,550,604)
Non-current segment assets	0	0
Total segment assets	180,100	199,679
Segment liabilities	(173,170)	(204,605)
Malaysia
Revenue
Other income	0
Interest received		0
Total segment revenue	0	0
Depreciation and amortisation	0	(1,898)
Finance costs	0	0
Impairment of investment in associate	0	0
Other expenses	(9,890)	(31,490)
Segment result before tax	(9,890)	(33,388)
Income tax expense	0	(135)
Profit/(loss) for the year	(9,890)	(33,523)
Non-current segment assets	0	0
Total segment assets	10,899	9,844
Segment liabilities	(11,335)	(340)
Australia
Revenue
Other income	165,152
Interest received		1,524
Total segment revenue	165,152	1,524
Depreciation and amortisation	0	0
Finance costs	0	(2,450)
Impairment of investment in associate	0	0
Other expenses	(143,355)	(167,665)
Segment result before tax	21,797	(168,591)
Income tax expense	0	0
Profit/(loss) for the year	21,797	(168,591)
Non-current segment assets	0	0
Total segment assets	169,201	189,835
Segment liabilities	$ (161,835)	$ (204,265)

6. Other Income (Details)

6. Other Income (Details) - AUD ($)	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017
DisclosureOfOtherIncomeLineItems [Line Items]
Other income	$ 165,152	$ 1,524	$ 7,777
Proceeds from RTO Activities
DisclosureOfOtherIncomeLineItems [Line Items]
Other income	165,000	0	0
Interest Income
DisclosureOfOtherIncomeLineItems [Line Items]
Other income	$ 152	$ 1,524	$ 7,777

7. Expenses (Details)

7. Expenses (Details) - AUD ($)	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017
DisclosureOfExpensesLineItems [Line Items]
Director and employee benefits expense	$ 0	$ 0	$ 467,220
Other expenses	77,240	121,090	298,617
Wages and Salaries
DisclosureOfExpensesLineItems [Line Items]
Director and employee benefits expense	0	0	450,318
Contribution to Defined Contribution Plans
DisclosureOfExpensesLineItems [Line Items]
Director and employee benefits expense	0	0	16,902
Audit Fees
DisclosureOfExpensesLineItems [Line Items]
Other expenses	27,359	26,816	46,748
Computer Maintenance and Consumables
DisclosureOfExpensesLineItems [Line Items]
Other expenses	362	0	592
Communication Expenses
DisclosureOfExpensesLineItems [Line Items]
Other expenses	5,984	7,976	14,725
Insurance Costs
DisclosureOfExpensesLineItems [Line Items]
Other expenses	25,732	58,192	78,004
Legal Fees
DisclosureOfExpensesLineItems [Line Items]
Other expenses	4,083	14,787	52,508
Due Diligence Costs
DisclosureOfExpensesLineItems [Line Items]
Other expenses	0	0	73,145
Other Administrative Costs
DisclosureOfExpensesLineItems [Line Items]
Other expenses	$ 13,720	$ 13,319	$ 32,895

8. Income Tax (Details)

8. Income Tax (Details) - AUD ($)	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017
Income Tax
Current tax expense	$ 0	$ (135)	$ (3,252)
Deferred tax expense	0	0	0
Income tax expense	$ 0	$ (135)	$ (3,252)

8. Income Tax (Details 1)

8. Income Tax (Details 1) - AUD ($)	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017
Income Tax
Accounting profit (loss) before tax	$ 11,907	$ (201,979)	$ (4,509,178)
Prima facie tax (benefit on profit/(loss) from ordinary activities before income tax at 27.5%	3,275	(55,544)	(1,352,753)
Tax effect of losses not brought to account	0	55,409	1,349,501
Tax effect of utilisation of available tax losses	(3,275)	0	0
Total tax effect	0	(135)	(3,252)
Add: over provision for income tax in prior year	0	0	0
Income tax attributable to entity	$ 0	$ (135)	$ (3,252)
Applicable weighted average effective current tax rate	0.00%	0.00%	0.00%

8. Income Tax (Details Narrativ

8. Income Tax (Details Narrative) - AUD ($)	Jun. 30, 2019	Jun. 30, 2018
Income Tax
Deferred tax assets	$ 2,900,000	$ 2,900,000
Deferred tax assets for deductible temporary differences	$ 2,900,000	$ 3,100,000

9. Earnings per Share (Details)

9. Earnings per Share (Details) - AUD ($)	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017
Earnings per share from profits attributable to the ordinary equity holders of the parent:
Earnings used in calculation of both ordinary and dilutive EPS	$ 11,907	$ (202,114)	$ (4,550,604)
Earnings used in calculation of both ordinary and dilutive EPS for ongoing operations	$ 11,907	$ (202,114)	$ (4,550,604)
Weighted average number of ordinary shares outstanding during the year used in calculating basic EPS	40,870,275	40,870,275	40,870,275
Weighted average number of ordinary shares outstanding during the year used in calculating dilutive EPS	40,870,275	40,870,275	40,870,275

10. Cash and Cash Equivalents_2

10. Cash and Cash Equivalents (Details) - AUD ($)	Jun. 30, 2019		Jun. 30, 2018		Jun. 30, 2017	Jun. 30, 2016
Cash and cash equivalents [abstract]
Cash at bank and in hand	$ 169,795		$ 102,705		$ 147,673
Short-term bank deposits	3,548		92,896		240,167
Cash and cash equivalents	$ 173,343	[1]	$ 195,601	[1]	$ 387,840	$ 1,400,538
[1]	Under the category of the financial instrument standard the cash and cash equivalent is classified as loans and receivable under IAS 39 in 2018 and is classified as a financial asset at amortised cost in 2019 under IFRS 9.

11. Trade and Other Payables (D

11. Trade and Other Payables (Details) - AUD ($)	Jun. 30, 2019	Jun. 30, 2018
DisclosureOfPayablesLineItems [Line Items]
Trade and other payables	$ 19,285	$ 20,720
Trade Payables
DisclosureOfPayablesLineItems [Line Items]
Trade and other payables	4,732	9,730
Sundry Payables and Accrued Expenses
DisclosureOfPayablesLineItems [Line Items]
Trade and other payables	$ 14,553	$ 10,990

12. Provisions (Details)

12. Provisions (Details) - AUD ($)	Jun. 30, 2019	Jun. 30, 2018
Disclosure of other provisions [line items]
Short-term provisions	$ 153,885	$ 183,885
Provision for Leave
Disclosure of other provisions [line items]
Short-term provisions	$ 153,885	$ 183,885

13. Issued Capital (Details)

13. Issued Capital (Details) - AUD ($)	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Disclosure of classes of share capital [abstract]
Beginning balance	40,870,275	40,870,275
Ordinary shares issued	0	0
Ending balance	40,870,275	40,870,275
Beginning balance, amount	$ 523,197	$ 523,197
Ordinary shares issued, amount	0	0
Ending balance, amount	$ 523,197	$ 523,197

14. Cash Flow Information (Deta

14. Cash Flow Information (Details) - AUD ($)	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017
Cash Flows From Operating Activities
Profit/(loss) after income tax	$ 11,907	$ (202,114)	$ (4,550,604)
Non cash flows in profit/(loss)
Depreciation of plant and equipment - continued operations	0	1,898	487
Share of net loss/(profit) of associate	0	0	38,174
Provision for employee benefits	0	0	(2,826)
Other non cash adjustments	0	0	4,436
Impairment of associate	0	0	3,608,038
Net cash (used in) operating activities before change in assets and liabilities	11,554	(200,216)	(902,295)
Change in assets and liabilities
Decrease in receivables	0	0	1,091
(Increase)/decrease in other assets	(2,557)	6,471	(4,691)
(Increase) in creditors and accruals	(1,427)	(377)	(87,870)
Decrease in provisions	(30,000)	0	0
Foreign currency adjustments	7,115	4,263	15,041
Total change in assets and liabilities	(26,869)	10,357	(76,429)
Cash (used in) operations	$ (15,315)	$ (189,859)	$ (978,724)

15. Investments in Subsidiari_3

15. Investments in Subsidiaries, Unconsolidated Entities and Associates (Details)	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
DisclosureOfSignificantInvestmentsInSubsidiariesAndAssociatesLineItems [Line Items]
Parent entity name	Mission NewEnergy Limited
Country of incorporation	Australia
Associate 1
DisclosureOfSignificantInvestmentsInSubsidiariesAndAssociatesLineItems [Line Items]
Associate name	Felda Green Energy Sdn Bhd	Felda Green Energy Sdn Bhd
Country of incorporation	Malaysia	Malaysia
Percentage owned, associate	20.00%	20.00%
Ownership interest held by non-controlling interests	80.00%	80.00%
Principal activities	Biodiesel refining	Biodiesel refining
Subsidiary 1
DisclosureOfSignificantInvestmentsInSubsidiariesAndAssociatesLineItems [Line Items]
Subsidiary name	Mission Biofuels Sdn Bhd	Mission Biofuels Sdn Bhd
Country of incorporation	Malaysia	Malaysia
Percentage owned, subsidiary	100.00%	100.00%
Ownership interest held by non-controlling interests	0.00%	0.00%
Principal activities	Administrative entity	Administrative entity
Subsidiary 2
DisclosureOfSignificantInvestmentsInSubsidiariesAndAssociatesLineItems [Line Items]
Subsidiary name	M2 Capital Sdn Bhd	M2 Capital Sdn Bhd
Country of incorporation	Malaysia	Malaysia
Percentage owned, subsidiary	100.00%	100.00%
Ownership interest held by non-controlling interests	0.00%	0.00%
Principal activities	Holds 20% of FGV Green Energy SB	Holds 20% of FGV Green Energy SB

15. Investments in Subsidiari_4

15. Investments in Subsidiaries, Unconsolidated Entities and Associates (Details 1) - AUD ($)	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Disclosure of associates [line items]
Country of incorporation	Australia
Associate
Disclosure of associates [line items]
Associate name	FGV Green Energy Sdn Bhd	FGV Green Energy Sdn Bhd
Country of incorporation	Malaysia	Malaysia
Percentage owned	20.00%	20.00%
Measurement method	Equity method	Equity method
Carrying amount	$ 0	$ 0

15. Investments in Subsidiari_5

15. Investments in Subsidiaries, Unconsolidated Entities and Associates (Details 2) - AUD ($)	12 Months Ended
	Jun. 30, 2019		Jun. 30, 2018		Jun. 30, 2017	Jun. 30, 2016
Summarised statement of financial position
Cash and cash equivalents	$ 173,343	[1]	$ 195,601	[1]	$ 387,840	$ 1,400,538
Non-current assets - written to NIL during the financial year	0		0
Current liabilities	173,170		204,605
Net (liabilities)/assets	6,930		(4,926)
Associate
Summarised statement of comprehensive income
(Loss) from operations	(35,914,990)		(194,886)
The Groups share of (loss)/profit from operations	0		0
Summarised statement of financial position
Cash and cash equivalents	11,374		16,496
Other current assets	52,490		85,209
Non-current assets - written to NIL during the financial year	0		37,852,240
Current liabilities	(24,340,686)		(21,967,251)
Non-current financial liabilities	0		0
Net (liabilities)/assets	$ (24,276,822)		$ 15,986,694
[1]	Under the category of the financial instrument standard the cash and cash equivalent is classified as loans and receivable under IAS 39 in 2018 and is classified as a financial asset at amortised cost in 2019 under IFRS 9.

16. Critical Accounting Estim_3

16. Critical Accounting Estimates and Judgments (Details) - AUD ($)	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017
Disclosure of changes in accounting estimates [abstract]
Impairment of investment in associate	$ 0	$ 0	$ 3,608,038

17. Financial Instruments and_3

17. Financial Instruments and Financial Risk Management (Details) - AUD ($)	Jun. 30, 2019		Jun. 30, 2018		Jun. 30, 2017	Jun. 30, 2016
Financial assets
Cash and cash equivalents	$ 173,343	[1]	$ 195,601	[1]	$ 387,840	$ 1,400,538
Financial liabilities
Trade and other payables	$ 19,285		$ 20,720
[1]	Under the category of the financial instrument standard the cash and cash equivalent is classified as loans and receivable under IAS 39 in 2018 and is classified as a financial asset at amortised cost in 2019 under IFRS 9.

17. Financial Instruments and_4

17. Financial Instruments and Financial Risk Management (Details 1) - AUD ($)	Jun. 30, 2019		Jun. 30, 2018		Jun. 30, 2017	Jun. 30, 2016
Disclosure of credit risk exposure [line items]
Cash and cash equivalents	$ 173,343	[1]	$ 195,601	[1]	$ 387,840	$ 1,400,538
A-1+ (Australian)
Disclosure of credit risk exposure [line items]
Cash and cash equivalents	166,644		189,836
P-2 (Malaysia)
Disclosure of credit risk exposure [line items]
Cash and cash equivalents	$ 6,699		$ 5,765
[1]	Under the category of the financial instrument standard the cash and cash equivalent is classified as loans and receivable under IAS 39 in 2018 and is classified as a financial asset at amortised cost in 2019 under IFRS 9.

17. Financial Instruments and_5

17. Financial Instruments and Financial Risk Management (Details 2) - AUD ($)	12 Months Ended
	Jun. 30, 2019		Jun. 30, 2018		Jun. 30, 2017	Jun. 30, 2016
Financial Assets:
Cash and cash equivalents	$ 173,343	[1]	$ 195,601	[1]	$ 387,840	$ 1,400,538
Financial assets	173,343		195,601
Current liabilities	$ 173,170		$ 204,605
Cash and Cash Equivalents
Financial Assets:
Weighted average interest rate	1.26%		1.02%
[1]	Under the category of the financial instrument standard the cash and cash equivalent is classified as loans and receivable under IAS 39 in 2018 and is classified as a financial asset at amortised cost in 2019 under IFRS 9.

22. Remuneration of Auditors (D

22. Remuneration of Auditors (Details) - AUD ($)	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Auditor's remuneration [abstract]
Remuneration of the auditor of the parent entity for auditing or reviewing the financial reports - BDO Audit (WA) Pty Ltd	$ 27,359	$ 26,816

23. Related Parties (Details)

23. Related Parties (Details) - AUD ($)	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Disclosure of transactions between related parties [abstract]
Short-term employee benefits	$ 0	$ 0
Post-employment benefits	0	0
Key management personnel compensation	$ 0	$ 0

24. Parent Entity Information_2

24. Parent Entity Information (Details) - AUD ($)	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017
DisclosureOfParentEntityInformationLineItems [Line Items]
Current assets	$ 180,100	$ 199,679
Non-current assets	0	0
Total assets	180,100	199,679
Current liabilities	173,170	204,605
Total liabilities	(173,170)	(204,605)
Net asset surplus/(deficit)	6,930	(4,926)
Issued capital	523,197	523,197	$ 523,197
Opening retained (loss)	(1,553,541)	(1,715,448)
Total shareholders' equity deficit/(surplus)	6,930	(4,926)	$ 194,516
Mission NewEnergy Limited
DisclosureOfParentEntityInformationLineItems [Line Items]
Current assets	169,201	189,835
Non-current assets	0	0
Total assets	169,201	189,835
Current liabilities	(161,835)	(204,265)
Total liabilities	(161,835)	(204,265)
Net asset surplus/(deficit)	7,366	(14,430)
Issued capital	418,635	418,635
Opening retained (loss)	(433,065)	(410,755)
Share based payments reserve	0	150,000
Total shareholders' equity (surplus)/deficit	(14,430)	157,880
Profit/(loss) of the parent entity during the year	21,796	(172,310)
Total shareholders' equity deficit/(surplus)	7,366	(14,430)
Details of any contingent liabilities of the parent entity	0	0
Details of any contractual commitments by the parent entity for the acquisition of property, plant or equipment	$ 0	$ 0

25. Company Details (Details)

25. Company Details (Details)	12 Months Ended
	Jun. 30, 2019
Australia
DisclosureOfCompanyDetailsLineItems [Line Items]
Principal place of business	Mission NewEnergy Limited Head Office Unit B9, 431 Roberts Rd, Subiaco, Western Australia, 6008, Australia
Malaysia
DisclosureOfCompanyDetailsLineItems [Line Items]
Principal place of business	Mission Biofuels Sdn Bhd M2 Capital Sdn Bhd No 5E Nadayu 28 Dagang Jalan PJS 11/7 Bandar Sunway 47500 Subang Jaya Selangor, Malaysia