Document And Entity Information
Document And Entity Information | 12 Months Ended |
Dec. 31, 2022 shares | |
Document Information Line Items | |
Entity Registrant Name | MOBILICOM LIMITED |
Trading Symbol | MOB |
Document Type | 20-F |
Current Fiscal Year End Date | --12-31 |
Entity Common Stock, Shares Outstanding | 1,331,279,665 |
Amendment Flag | false |
Entity Central Index Key | 0001898643 |
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 | Dec. 31, 2022 |
Document Fiscal Year Focus | 2022 |
Document Fiscal Period Focus | FY |
Entity Emerging Growth Company | true |
Entity Shell Company | false |
Entity Ex Transition Period | 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 | 001-41427 |
Entity Incorporation, State or Country Code | C3 |
Entity Address, Address Line One | 1 Rakefet Street |
Entity Address, City or Town | Shoham |
Entity Address, Country | IL |
Entity Address, Postal Zip Code | 6083705 |
Title of 12(b) Security | American Depositary Shares, each representing 275 ordinary shares, no par value |
Security Exchange Name | NASDAQ |
Entity Interactive Data Current | Yes |
Document Accounting Standard | International Financial Reporting Standards |
Auditor Firm ID | 1185 |
Auditor Location | Tel-Aviv, Israel |
Auditor Name | Ziv Haft |
Business Contact | |
Document Information Line Items | |
Entity Address, Address Line One | 1 Rakefet Street |
Entity Address, City or Town | Shoham |
Entity Address, Country | IL |
Entity Address, Postal Zip Code | 6083705 |
Contact Personnel Name | Liad Gelfer |
City Area Code | +61 3 |
Local Phone Number | 8630 3321 |
Contact Personnel Email Address | Liad.Gelfer@mobilicom.com |
Consolidated statement of profi
Consolidated statement of profit or loss and other comprehensive income | 12 Months Ended | ||||||
Dec. 31, 2022 AUD ($) $ / shares shares | Dec. 31, 2022 USD ($) $ / shares shares | Dec. 31, 2021 AUD ($) $ / shares shares | Dec. 31, 2020 AUD ($) $ / shares shares | ||||
Consolidated Statement Of Profit Or Loss And Other Comprehensive Income Abstract | |||||||
Revenue | $ 2,327,058 | $ 1,580,881 | [1] | $ 3,578,603 | $ 2,066,478 | ||
Cost of sales | (883,483) | (600,193) | (1,243,583) | [1] | (734,682) | [1] | |
Government grants | 923,033 | 627,060 | [1] | 787,544 | 964,970 | ||
Interest received | 168,843 | 114,703 | [1] | 1,580 | 10,539 | ||
Foreign exchange gains | 1,175,735 | 798,733 | [1] | ||||
Fair value gains from financial liability | 3,768,466 | 2,560,099 | [1] | ||||
Expenses | |||||||
Selling and marketing expenses | (2,464,936) | (1,674,550) | [1] | (1,692,074) | [1] | (1,133,758) | [1] |
Research and development | (2,585,307) | (1,756,322) | [1] | (2,458,600) | [1] | (2,467,227) | [1] |
General and administration expenses | (2,690,920) | (1,828,071) | (1,430,862) | [1] | (1,296,049) | [1] | |
Finance costs | (65,972) | (44,817) | [1] | (53,544) | (12,238) | ||
Foreign exchange losses | [1] | (184,743) | (179,932) | ||||
Loss before income tax expense | (327,483) | (222,477) | [1] | (2,695,679) | (2,781,899) | ||
Income tax expense | (13,986) | (9,501) | (9,166) | ||||
Loss after income tax expense for the year attributable to the owners of Mobilicom Limited | (341,469) | (231,978) | [1] | (2,704,845) | (2,781,899) | ||
Re-measurement of defined benefit plans (refer to note 21) | 366,517 | 248,993 | (34,197) | 6,450 | |||
Foreign currency translation (refer to note 21) | (935,142) | (635,287) | 206,363 | 175,836 | |||
Other comprehensive income for the year, net of tax | (568,625) | (386,294) | 172,166 | 182,286 | |||
Total comprehensive income for the year attributable to the owners of Mobilicom Limited | $ (910,094) | $ (618,272) | [2] | $ (2,532,679) | $ (2,599,613) | ||
Basic earnings per share (in Dollars per share and Dollars per share) | (per share) | $ (0.05) | $ (0.03) | $ (0.91) | $ (1.08) | |||
Diluted earnings per share (in Dollars per share and Dollars per share) | (per share) | $ (0.05) | $ (0.03) | $ (0.91) | $ (1.08) | |||
Weighted average number of ordinary shares used in calculating basic earnings per share (in Shares) | 664,158,704 | 664,158,704 | 297,914,797 | 257,936,715 | |||
[1] Reclassified US Dollars numbers presented solely for convenience of the reader |
Consolidated statement of pro_2
Consolidated statement of profit or loss and other comprehensive income (Parentheticals) - shares | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Consolidated Statement Of Profit Or Loss And Other Comprehensive Income Abstract | |||
Weighted average number of ordinary shares used in calculating diluted earnings per share (in Shares) | 664,158,704 | 297,914,797 | 257,936,715 |
Consolidated Statement of Finan
Consolidated Statement of Financial Position | Dec. 31, 2022 AUD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 AUD ($) | |
Current assets | ||||
Cash and cash equivalents | $ 18,917,416 | $ 12,851,506 | $ 3,947,156 | |
Restricted cash | 59,126 | 40,166 | 49,144 | |
Trade and other receivables, net | 828,351 | 562,740 | 695,541 | |
Inventories | 838,658 | 569,740 | 490,990 | |
Total current assets | 20,643,551 | 14,024,152 | 5,182,831 | |
Non-current assets | ||||
Property, plant and equipment, net | 135,878 | 92,309 | 152,571 | |
Right-of-use assets | 426,817 | 289,957 | 610,197 | |
Total non-current assets | 562,695 | 382,266 | 762,768 | |
Total assets | 21,206,246 | 14,406,418 | 5,945,599 | |
Current liabilities | ||||
Trade and other payables | 1,608,846 | 1,092,966 | 1,151,455 | |
Lease liabilities | 333,850 | 226,800 | 305,414 | |
Financial liability | 1,097,520 | 745,598 | ||
Total current liabilities | 3,040,216 | 2,065,364 | 1,456,869 | |
Non-current liabilities | ||||
Lease liabilities | 95,403 | 64,812 | 336,246 | |
Employee benefits | 203,636 | 138,339 | 818,190 | |
Governmental liabilities on grants received | 6,084 | 4,133 | 5,175 | |
Total non-current liabilities | 305,123 | 207,284 | 1,159,611 | |
Total liabilities | 3,345,339 | 2,272,648 | 2,616,480 | |
Net assets | 17,860,907 | 12,133,770 | 3,329,119 | |
Issued capital | 41,636,762 | 28,285,844 | 26,504,136 | |
Reserves | 276,988 | 188,172 | 943,297 | |
Accumulated losses | (24,052,843) | (16,340,246) | (24,118,314) | |
Total equity | $ 17,860,907 | $ 12,133,770 | [1] | $ 3,329,119 |
[1] US Dollars numbers presented solely for convenience of the reader |
Consolidated Statement of Chang
Consolidated Statement of Changes in Equity | Issued capital AUD ($) | Share based payments reserve AUD ($) | Foreign currency translation reserves AUD ($) | Re- measurement reserves AUD ($) | Accumulated losses AUD ($) | AUD ($) | USD ($) | [1] |
Balance at Dec. 31, 2019 | $ 22,884,795 | $ 1,318,853 | $ 22,324 | $ (481,202) | $ (19,299,005) | $ 4,445,765 | ||
Loss after income tax expense for the year | (2,781,899) | (2,781,899) | ||||||
Other comprehensive income for the year, net of tax | 175,836 | 6,450 | 182,286 | |||||
Total comprehensive income for the year | 175,836 | 6,450 | (2,781,899) | (2,599,613) | ||||
Share-based payments (note 32) | 173,134 | 173,134 | ||||||
Expiry of options | (424,416) | 424,416 | ||||||
Forfeiture of options | (20,702) | 20,702 | ||||||
Balance at Dec. 31, 2020 | 22,884,795 | 1,046,869 | 198,160 | (474,752) | (21,635,786) | 2,019,286 | ||
Loss after income tax expense for the year | (2,704,845) | (2,704,845) | ||||||
Other comprehensive income for the year, net of tax | 206,363 | (34,197) | 172,166 | |||||
Total comprehensive income for the year | 206,363 | (34,197) | (2,704,845) | (2,532,679) | ||||
Share-based payments (note 32) | 223,171 | 223,171 | ||||||
Contributions of equity, net of transaction costs (note 20) | 3,619,341 | 3,619,341 | ||||||
Expiry of options | (46,425) | 46,425 | ||||||
Forfeiture of options | (8,806) | 8,806 | ||||||
Re-allocation between accumulated loses and foreign currency reserve | (167,086) | 167,086 | ||||||
Balance at Dec. 31, 2021 | 26,504,136 | 1,214,809 | 237,437 | (508,949) | (24,118,314) | 3,329,119 | $ 2,261,630 | |
Loss after income tax expense for the year | (341,469) | (341,469) | (231,978) | |||||
Other comprehensive income for the year, net of tax | (935,142) | 366,517 | (568,625) | (386,294) | ||||
Total comprehensive income for the year | (935,142) | 366,517 | (341,469) | (910,094) | (618,272) | |||
Share-based payments (note 32) | 309,256 | 309,256 | 210,092 | |||||
Contributions of equity, net of transaction costs (note 20) | 15,132,626 | 15,132,626 | 10,280,320 | |||||
Expiry of options | (311,840) | 311,840 | ||||||
Forfeiture of options | (95,100) | 95,100 | ||||||
Balance at Dec. 31, 2022 | $ 41,636,762 | $ 1,117,125 | $ (697,705) | $ (142,432) | $ (24,052,843) | $ 17,860,907 | $ 12,133,770 | |
[1] US Dollars numbers presented solely for convenience of the reader |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows | 12 Months Ended | ||||
Dec. 31, 2022 AUD ($) | Dec. 31, 2022 USD ($) | [1] | Dec. 31, 2021 AUD ($) | Dec. 31, 2020 AUD ($) | |
Cash flows from operating activities | |||||
Receipts from customers (inclusive of VAT) | $ 2,670,178 | $ 1,813,980 | $ 3,977,275 | $ 3,149,498 | |
Interest received | 168,843 | 114,703 | 1,580 | 10,539 | |
Interest paid | (22,004) | (14,948) | (31,916) | (42,327) | |
Payments to suppliers and employees (inclusive of VAT) | (8,209,263) | (5,576,945) | (6,540,662) | (6,301,673) | |
Government grants received and tax incentives | 923,942 | 627,678 | 787,544 | 1,063,792 | |
Net cash used in operating activities | (4,468,304) | (3,035,532) | (1,806,179) | (2,120,171) | |
Cash flows from investing activities | |||||
Payments for property, plant and equipment | (26,628) | (18,090) | (30,534) | ||
Net cash used in investing activities | (26,628) | (18,090) | (30,534) | ||
Cash flows from financing activities | |||||
Proceeds from issue of shares | 22,450,965 | 15,252,014 | 3,840,000 | ||
Share issue transaction costs | (2,615,470) | (1,776,814) | (220,659) | ||
Repayment of lease liabilities | (360,321) | (244,783) | (250,983) | (125,435) | |
Net cash provided by/ (used in) financing activities | 19,475,174 | 13,230,417 | 3,368,358 | (125,435) | |
Net Increase (decreased) in cash and cash equivalents and restricted cash | 14,980,242 | 10,176,795 | 1,531,645 | (2,245,606) | |
Cash and cash equivalents and restricted cash at the beginning of the financial year | 3,996,300 | 2,714,877 | 2,464,655 | 4,710,261 | |
Cash and cash equivalents and restricted cash at the end of the financial year | $ 18,976,542 | $ 12,891,672 | $ 3,996,300 | $ 2,464,655 | |
[1] US Dollar numbers presented solely for convenience of the reader |
General Information
General Information | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure Of General Information About Financial Statements [Abstract] | |
General information | Note 1. General information The financial statements cover Mobilicom Limited as a Group consisting of Mobilicom Limited and the entities it controlled at the end of, or during, the year. The financial statements are presented in Australian dollars, which is Mobilicom Limited’s functional and presentation currency. The conversion from Australian dollars (AUD$) into U.S. dollars ($) was made at the exchange rate as of December 31, 2022, on which $ 1.00 equalled AUD$ 1.472. The use of US$ is solely for the convenience of the reader. Mobilicom Limited is a listed public company limited by shares, incorporated and domiciled in Australia. Its registered office and principal place of business are: Registered office Principal place of business C/- JM Corporate Services Level 21, 459 Collins Street Level 21, 459 Collins Street Melbourne, Victoria, 3000 Melbourne, Victoria, 3000 Australia Australia The company’s principal activities are design, develop and deliver of cybersecurity and smart solutions for drone, robotics and autonomous platforms. The Company is an end-to-end provider of cybersecurity and robust solutions for drones, robotics and autonomous platforms. As a high-tech company it designs, develops, and delivers robust solutions focused primarily on targeting global drone, robotics and autonomous system manufacturers. The Company holds patented technology and unique know-how for Mobile Mesh networking. It has a large, field proven portfolio of commercialized products used in a variety of applications. The Company is growing a global customer base with sales to high profile customers including corporates, governments, and military departments. Mobilicom’s competitive advantages include outstanding security capabilities and performance in harsh environmental conditions. The Company’s large solution portfolio is being deployed worldwide, seeing the Company derive revenue from hardware, software sales and licensing fees and professional support services for its solutions. In December 2022 The financial statements were authorized for issue, in accordance with a resolution of directors, on March 30,2023. The directors have the power to amend and reissue the financial statements. Liquidity analysis These consolidated financial statements have been prepared on the assumption that the company will continue as a going concern, meaning it will continue in operation for the foreseeable future and will be able to realize assets and discharge liabilities in the ordinary course of operations. As of December 31, 2022, the company has not achieved positive cash flow from operations and incurred a net loss of AUD$341,469 ($231,978) for the year ended December 31, 2022, and generated AUD$24,052,843 ($16,340,246) of accumulated losses since inception. The company estimates that it has adequate financial resources for at least 12 months from the balance sheet date based on its current cash and trade receivable balances and its ongoing operations. These consolidated financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the company be unable to continue as a going concern. |
Significant Accounting Policies
Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2022 | |
Accounting Policies [Abstract] | |
Significant accounting policies | Note 2. Significant accounting policies The principal accounting policies adopted in the preparation of the financial statements are set out either in the respective notes or below. These policies have been consistently applied to all the years presented, unless otherwise stated. New or amended Accounting Standards and Interpretations adopted There was no new or amended Accounting Standards and Interpretations issued by the International Accounting Standards Board (‘IASB’) that are relevant to the company’s current reporting period. Any new or amended Accounting Standards or Interpretations that are not yet mandatory have not been early adopted. Basis of preparation These financial statements have been prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board (‘IASB’). Historical cost convention The financial statements have been prepared under the historical cost convention, except for, where applicable, the revaluation of financial assets and liabilities at fair value through profit or loss and other comprehensive income. Critical accounting estimates The preparation of the financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company’s accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements, are disclosed in note 3. Principles of consolidation The consolidated financial statements incorporate the assets and liabilities of all subsidiaries of Mobilicom Limited (‘Company’ or ‘parent entity’) as at 31 December 2022 and the results of all subsidiaries for the year then ended. Mobilicom Limited and its subsidiaries together are referred to in these financial statements as the ‘the company’. Subsidiaries are all those entities over which the company has control. The company controls an entity when the company 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. Subsidiaries are fully consolidated from the date on which control is transferred to the company. They are de-consolidated from the date that control ceases. Intercompany transactions, balances and unrealised gains on transactions between entities in the company are eliminated. Unrealised losses are also eliminated unless the transaction provides evidence of the impairment of the asset transferred. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the company. The acquisition of subsidiaries is accounted for using the acquisition method of accounting. A change in ownership interest, without the loss of control, is accounted for as an equity transaction, where the difference between the consideration transferred and the book value of the share of the non-controlling interest acquired is recognised directly in equity attributable to the parent. Where the company loses control over a subsidiary, it derecognises the assets including goodwill, liabilities and non-controlling interest in the subsidiary together with any cumulative translation differences recognised in equity. The company recognises the fair value of the consideration received and the fair value of any investment retained together with any gain or loss in profit or loss. Foreign currency translation The financial statements are presented in Australian dollars, which is Mobilicom Limited’s presentation currency. The use of US Dollar is solely for the convenience of the reader. Foreign currency transactions Foreign currency transactions are translated into Australian dollars using the exchange rates prevailing at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at financial year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss. Non-monetary items are converted at the rate of exchange used to convert the related consolidated statements of financial position items, i.e., at the time of the transaction. Foreign operations The assets and liabilities of foreign operations are translated into Australian dollars using the exchange rates at the reporting date. The revenues and expenses of foreign operations are translated into Australian dollars using the average exchange rates, which approximate the rates at the dates of the transactions, for the period. All resulting foreign exchange differences are recognised in other comprehensive income through the foreign currency reserve in equity. The foreign currency reserve is recognised in profit or loss when the foreign operation or net investment is disposed of. Current and non-current classification Assets and liabilities are presented in the statement of financial position based on current and non-current classification. An asset is classified as current when: it is either expected to be realised or intended to be sold or consumed in the company’s normal operating cycle; it is held primarily for the purpose of trading; it is expected to be realised within 12 months after the reporting period; or the asset is cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least 12 months after the reporting period. All other assets are classified as non-current. Research and development Expenditure during the research phase of a project is recognised as an expense when incurred. Development costs are capitalised only when technical feasibility studies identify that the project will develop an intangible asset that will be completed and available for use or sale, that there are adequate technical, financial and other resources to complete the development, that it will deliver future economic benefits and these benefits can be measured reliably. Impairment of financial assets The company assesses at the end of each reporting period whether there is any objective evidence of impairment of financial assets carried at amortized cost. Impairment of non-financial assets Non-financial assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognised for the amount by which the asset’s carrying amount exceeds its recoverable amount. Recoverable amount is the higher of an asset’s fair value less costs of disposal and value-in-use. The value-in-use is the present value of the estimated future cash flows relating to the asset using a pre-tax discount rate specific to the asset or cash-generating unit to which the asset belongs. Assets that do not have independent cash flows are grouped together to form a cash-generating unit. Defined benefit plans The Company operates a defined benefit plan in respect of severance pay pursuant to the Severance Pay Law. According to the Law, employees are entitled to severance pay upon dismissal retirement and several other events prescribed by that Law. The liability for termination of employee-employer relationship is measured using the projected unit credit method. The actuarial assumptions include rates of employee turnover and future salary increases based on the estimated timing of payment. The amounts are presented based on discounted expected future cash flows using a discount rate determined by reference to yields on corporate bonds with a term that matches the estimated term of the benefit plan. In respect of its severance pay obligation to certain of its employees, the Company makes current deposits in pension funds and insurance companies (“plan assets”). Plan assets comprise assets held by a Long-term employee benefits fund or qualifying insurance policies. Plan assets are not available to the Company’s own creditors and cannot be returned directly to the Company. The liability for employee benefits presented in the statement of financial position presents the present value of the defined benefit obligation less the fair value of the plan assets. Remeasurements, comprising of actuarial gains and losses, the effect of the asset ceiling, excluding amounts included in net interest on the net defined benefit liability and the return on plan assets (excluding amounts included in net interest on the net defined benefit liability), are recognized immediately in the statement of financial position with a corresponding debit or credit to retained earnings through OCI in the period in which they occur. Remeasurements are not reclassified to profit or loss in subsequent periods. Past service costs are recognised in profit or loss. Goods and Services Tax (‘GST’) and other similar taxes Revenues, expenses and assets are recognised net of the amount of associated GST, unless the GST incurred is not recoverable from the tax authority. In this case it is recognised as part of the cost of the acquisition of the asset or as part of the expense. Receivables and payables are stated inclusive of the amount of GST receivable or payable. The net amount of GST recoverable from, or payable to, the tax authority is included in other receivables or other payables in the statement of financial position. Cash flows are presented on a gross basis. The GST components of cash flows arising from investing or financing activities which are recoverable from, or payable to the tax authority, are presented as operating cash flows. Commitments and contingencies are disclosed net of the amount of GST recoverable from, or payable to, the tax authority. Segments The company operates in one segment. Management does not segregate its business for internal reporting. The company’s chief operating decision maker (“CODM”) evaluates the performance of its business based on financial data consistent with the presentation in the accompanying financial statements. The company concluded that its unified business is conducted globally and accordingly represents one operating segment. Fair value of financial instruments Liability included in the Company’s Consolidated statement of financial position utilizes market observables inputs and data as far as possible. Inputs used in determining fair value measurement are categorized into different levels based on how observable the inputs used in the valuation technique utilized are (the ‘fair value hierarchy’): ● Level 1: Quoted priced in active markets for identical items (unadjusted) ● Level 2: Observable direct or indirect inputs other than level 1 inputs. ● Level 3: Unobservable inputs (i.e., not derived from market data). The classification of an item into the above levels is based on the lowest level of the inputs used that has a significant effect on the fair value measurement of the item. Transfers of items between levels are recognized in the period they occur. |
Critical Accounting Judgements,
Critical Accounting Judgements, Estimates and Assumptions | 12 Months Ended |
Dec. 31, 2022 | |
Critical Accounting Judgements, Estimates and Assumptions [Abstract] | |
Critical accounting judgements, estimates and assumptions | Note 3. Critical accounting judgements, estimates and assumptions The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the reported amounts in the financial statements. Management continually evaluates its judgements and estimates in relation to assets, liabilities, contingent liabilities, revenue and expenses. Management bases its judgements, estimates and assumptions on historical experience and on other various factors, including expectations of future events, management believes to be reasonable under the circumstances. The resulting accounting judgements and estimates will seldom equal the related actual results. The judgements, estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities (refer to the respective notes) within the next financial year are discussed below. Share-based payments The company has a share-based remuneration scheme for employees. The fair value of share options is estimated by using the Black-Scholes option pricing model, on the date of grant based on certain assumptions. Those assumptions are described in the share-based payments note and include, among others, the dividend growth rate, expected share price volatility and expected life of the options. The fair value of the equity settled options granted is charged to statement of comprehensive income over the vesting period of each tranche and the credit is taken to equity, based on the company’s estimate of shares that will eventually vest. Financial Liability The Company measures the fair value of the pre-funded warrants and representative warrants issued under August 2022 Nasdaq IPO & listing. The fair value of these warrants is estimated by using the Hull-White option pricing model (trinomial Lattice model), on the date of the grant and remeasured at each reporting period (December 31, 2022) and is based on certain assumptions. Those assumptions include, among others, the dividend growth rate, expected share price, volatility and expected life of the warrants, early exercise / exercise multiple, capital structure effects and trinomial steps. Governmental liabilities on grants received The Company measures the value of its governmental liabilities on grants received, each period, based on discounted cash flows derived from the Company’s future anticipated revenues. Employee benefits provision As discussed in note 2, the liability for employee benefits expected to be settled more than 12 months from the reporting date is recognised and measured at the present value of the estimated future cash flows to be made in respect of all employees at the reporting date. In determining the present value of the liability, estimates of attrition rates and pay increases through promotion, whereas applicable, and inflation have been taken into account Lease term The lease term is a significant component in the measurement of both the right-of-use asset and lease liability. Judgement is exercised in determining whether there is reasonable certainty that an option to extend the lease or purchase the underlying asset will be exercised, or an option to terminate the lease will not be exercised, when ascertaining the periods to be included in the lease term. In determining the lease term, all facts and circumstances that create an economical incentive to exercise an extension option, or not to exercise a termination option, are considered at the lease commencement date. Factors considered may include the importance of the asset to the Company’s operations; comparison of terms and conditions to prevailing market rates; incurrence of significant penalties; existence of significant leasehold improvements; and the costs and disruption to replace the asset. The Company reassesses whether it is reasonably certain to exercise an extension option, or not exercise a termination option, if there is a significant event or significant change in circumstances. |
Revenue
Revenue | 12 Months Ended |
Dec. 31, 2022 | |
Revenue [Abstract] | |
Revenue | Note 4. Revenue Consolidated Consolidated 2022 2021 2020 2022 AUD$ AUD$ AUD$ $ Sale of goods 2,327,058 3,578,603 2,066,478 1,580,881 Revenue from contracts with customers Revenue is recognised at an amount that reflects the consideration to which the company is expected to be entitled in exchange for transferring goods or services to a customer. For each contract with a customer, the company: identifies the contract with a customer; identifies the performance obligations in the contract; determines the transaction price which takes into account estimates of variable consideration and the time value of money; allocates the transaction price to the separate performance obligations on the basis of the relative stand-alone selling price of each distinct good or service to be delivered; and recognises revenue when or as each performance obligation is satisfied in a manner that depicts the transfer to the customer of the goods or services promised. Revenue from the sale of goods is recognised at the point in time when the customer obtains control of the goods, which is generally at the time of delivery. For the years ended December 31, 2022, 2021 and 2020, sales of goods include recognized deferred revenues in the amount of AUD$12,156, AUD$320,948 and AUD$226,541, respectively. Interest Interest revenue is recognised as interest accrues using the effective interest method. This is a method of calculating the amortised cost of a financial asset and allocating the interest income over the relevant period using the effective interest rate, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to the net carrying amount of the financial asset. Government Grant income The Company receives government grant income from the Israeli Innovation Authority (formerly the Office of the Chief Scientist) (Innovation Authority), as support for participation in sponsored programs for research and development projects. Grants are received for eligible research and development expenses, upon submission and acceptance of periodic project performance reports. Grant income is accounted for in the period in which it is received. Fair value gain Fair value gain is recognised at an amount that reflects the changes in fair value of the financial liability between the measured periods. Major customers Out of the total income in the year ended 2022, 18% (2021: nil nil |
Cost of Sales
Cost of Sales | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure Of Cost Of Sales [Abstract] | |
Cost of sales | Note 5. Cost of sales Consolidated Consolidated 2022 2021 2020 2022 AUD$ AUD$ AUD$ $ Salaries and benefits 222,693 176,787 240,010 151,286 Cost of materials 577,902 991,959 414,778 392,597 Occupancy and office expenses 22,431 14,193 17,282 15,238 Other 21,507 43,832 36,382 14,611 Depreciation 38,950 16,812 26,230 26,461 883,483 1,243,583 734,682 600,193 |
Selling and Marketing Expenses
Selling and Marketing Expenses | 12 Months Ended |
Dec. 31, 2022 | |
Selling And Marketing Expenses [Abstract] | |
Selling and marketing expenses | Note 6. Selling and marketing expenses Consolidated Consolidated 2022 2021 2020 2022 AUD$ AUD$ AUD$ $ Salaries and benefits 1,800,318 1,321,555 864,554 1,223,042 Marketing services 255,306 158,706 69,783 173,441 Travel expenses 74,425 38,077 13,463 50,561 Depreciation 142,325 61,642 92,097 26,187 Occupancy and office expenses 38,547 21,608 25,772 96,688 Other 154,015 90,486 68,089 104,631 2,464,936 1,692,074 1,133,758 1,674,550 |
Research and Development
Research and Development | 12 Months Ended |
Dec. 31, 2022 | |
Research and Development [Abstract] | |
Research and development | Note 7. Research and development Consolidated Consolidated 2022 2021 2020 2022 AUD$ AUD$ AUD$ $ Salaries and benefits 2,005,506 1,688,408 1,653,092 1,362,436 Materials 111,856 247,948 129,834 75,989 Royalties to the OCS 6,478 (1,924 ) (155,896 ) 4,401 Subcontractors 121,471 275,087 571,730 82,521 Depreciation 140,426 112,077 140,720 78,689 Other 199,570 137,004 127,747 152,286 2,585,307 2,458,600 2,467,227 1,756,322 |
General and Administration Expe
General and Administration Expenses | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure Of General And Administrative Expense Text Block [Abstract] | |
General and administration expenses | Note 8. General and administration expenses Consolidated Consolidated 2022 2021 2020 2022 AUD$ AUD$ AUD$ $ Salaries and benefits 1,140,392 678,814 475,134 774,723 Share based payment 158,887 54,033 94,078 107,940 Professional fees 576,254 547,849 474,214 391,477 Insurance 297,855 24,894 138,746 202,347 Travel expenses 6,675 231 2,338 4,535 Depreciation 53,815 33,623 26,229 36,559 Occupancy and office expenses 48,648 20,112 15,574 33,046 Other 408,394 71,306 69,736 277,444 2,690,920 1,430,862 1,296,049 1,828,071 |
Income Tax Expense
Income Tax Expense | 12 Months Ended |
Dec. 31, 2022 | |
Income Tax Expense [Abstract] | |
Income tax expense | Note 9. Income tax expense Consolidated Consolidated 2022 2021 2020 2022 AUD$ AUD$ AUD$ $ Numerical reconciliation of income tax expense and tax at the statutory rate Loss before income tax expense (327,483 ) (2,695,679 ) (2,781,899 ) (222,475 ) Tax at the statutory tax rate of 27.5% (Australian company tax rate) (90,058 ) (741,312 ) (765,022 ) (61,181 ) Tax effect amounts which are not deductible/(taxable) in calculating taxable income: Share-based payments 85,045 61,372 43,978 57,775 Other temporary differences not recognised 18,999 689,106 721,044 12,907 Income tax expense 13,986 9,166 - 9,501 Deferred tax assets relating to temporary differences and unused tax losses are recognised only to the extent that is it probable that future taxable profits will be available against which the benefits of the deferred tax asset can be utilised |
Current Assets - Cash and Cash
Current Assets - Cash and Cash Equivalents | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure Of Cash And Cash Equivalents Text Block [Abstract] | |
Current assets - cash and cash equivalents | Note 10. Current assets - cash and cash equivalents and restricted cash Consolidated Consolidated 2022 2021 2022 AUD$ AUD$ $ Cash and cash equivalents 18,917,416 3,947,156 12,851,506 Restricted cash 59,126 49,144 40,166 Cash at bank 18,976,542 3,996,300 12,891,672 Accounting policy for cash and cash equivalents Cash and cash equivalents include cash on hand, deposits held at call with financial institutions, other short-term, highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value. Restricted cash represents deposits with banks which are used mainly as a security for guarantees provided against facilities lease agreement. |
Current Assets - Trade and Othe
Current Assets - Trade and Other Receivables | 12 Months Ended |
Dec. 31, 2022 | |
Current Assets - Trade and Other Receivables [Abstract] | |
Current assets - trade and other receivables | Note 11. Current assets - trade and other receivables, net Consolidated Consolidated 2022 2021 2022 AUD$ AUD$ $ Trade receivables 203,737 338,859 138,409 Other receivables 624,614 356,682 424,331 828,351 695,541 562,740 Accounting policy for trade and other receivables Trade receivables are initially recognised at fair value and subsequently measured at amortised cost using the effective interest method, less any allowance for expected credit losses. Trade receivables are generally due for settlement within 30 days. The company has applied the simplified approach to measuring expected credit losses, which uses a lifetime expected loss allowance. To measure the expected credit losses, trade receivables have been grouped based on days overdue. Other receivables are recognised at amortised cost, less any allowance for expected credit losses. No allowance for expected credit losses or overdue balances are accounted for in the financial statements. |
Current Assets - Inventories
Current Assets - Inventories | 12 Months Ended |
Dec. 31, 2022 | |
Current Assets - Inventories [Abstract] | |
Current assets - inventories | Note 12. Current assets - inventories Consolidated Consolidated 2022 2021 2022 AUD$ AUD$ $ Finished goods - at cost 838,658 490,990 569,740 Accounting policy for inventories Inventories are recognised at the lower of cost and net realisable value. Inventories cost is based on weighted average method. |
Non-Current Assets - Property,
Non-Current Assets - Property, Plant and Equipment | 12 Months Ended |
Dec. 31, 2022 | |
Non-Current Assets - Property, Plant and Equipment [Abstract] | |
Non-current assets - property, plant and equipment | Note 13. Non-current assets - property, plant and equipment, net Consolidated Consolidated 2022 2021 2022 AUD$ AUD$ $ Computer equipment - at cost 275,582 253,564 187,216 Less: Accumulated depreciation (242,159 ) (220,715 ) (164,510 ) 33,423 32,849 22,706 Office furniture and equipment - at cost 131,728 129,538 89,489 Less: Accumulated depreciation (41,818 ) (28,956 ) (28,409 ) 89,910 100,582 61,080 Machinery and equipment - at cost 85,309 82,889 57,955 Less: Accumulated depreciation (72,764 ) (63,749 ) (49,432 ) 12,545 19,140 8,523 135,878 152,571 92,309 Reconciliations Reconciliations of the written down values at the beginning and end of the current and previous financial year are set out below: Computer Office furniture and Machinery and equipment equipment equipment Total Total Consolidated AUD$ AUD$ AUD$ AUD$ $ Balance at 1 January 2021 12,141 106,573 24,769 143,483 Additions 30,091 443 - 30,534 Depreciation expense (9,383 ) (6,434 ) (5,629 ) (21,446 ) Balance at 31 December 2021 32,849 100,582 19,140 152,571 Additions 22,018 2,190 2,420 26,628 18,090 Depreciation expense (21,444 ) (12,862 ) (9,015 ) (43,321 ) (29,430 ) Balance at 31 December 2022 33,423 89,910 12,545 135,878 92,309 Accounting policy for property, plant and equipment Plant and equipment are stated at historical cost less accumulated depreciation and impairment. Historical cost includes expenditure that is directly attributable to the acquisition of the items. Depreciation is calculated on a straight-line basis to write off the net cost of each item of property, plant and equipment (excluding land) over their expected useful lives as follows: Computer equipment 3 years Machinery and equipment 6-7 years Office furniture and equipment 10-14 years The residual values, useful lives and depreciation methods are reviewed, and adjusted if appropriate, at each reporting date. An item of property, plant and equipment is derecognised upon disposal or when there is no future economic benefit to the company. Gains and losses between the carrying amount and the disposal proceeds are taken to profit or loss. |
Non-Current Assets - Right-of-U
Non-Current Assets - Right-of-Use Assets | 12 Months Ended |
Dec. 31, 2022 | |
Non-Current Assets - Right-of-Use Assets [Abstract] | |
Non-current assets - right-of-use assets | Note 14. Non-current assets - right-of-use assets Consolidated Consolidated 2022 2021 2022 AUD$ AUD$ $ Land and buildings - right-of-use 254,409 517,719 172,832 Motor vehicles - right-of-use 172,408 92,478 117,125 426,817 610,197 289,957 Additions to the right-of-use assets during the financial year were AUD$148,815 ($101,097) (2021: AUD$42,457). The company leases land and buildings for its offices in Israel under agreements for 5 years and in some cases, options to extend. On renewal, the terms of the leases are renegotiated. Reconciliations Reconciliations of the written down values at the beginning and end of the current and previous financial year are set out below: Land and Motor Buildings Vehicle Total Total Consolidated AUD$ AUD$ AUD$ $ Balance at 1 January 2021 697,234 73,214 770,448 - Additions - 42,457 42,457 Depreciation expense (179,515 ) (23,193 ) (202,708 ) Balance at 31 December 2021 517,719 92,478 610,197 Additions - 148,815 148,815 20,961 Depreciation expense (263,310 ) (68,885 ) (332,195 ) (225,676 ) Balance at 31 December 2022 254,409 172,408 426,817 289,957 Accounting policy for right-of-use assets A right-of-use asset is recognised at the commencement date of a lease. The right-of-use asset is measured at cost, which comprises the initial amount of the lease liability, adjusted for, as applicable, any lease payments made at or before the commencement date net of any lease incentives received, any initial direct costs incurred, and, except where included in the cost of inventories, an estimate of costs expected to be incurred for dismantling and removing the underlying asset, and restoring the site or asset. Right-of-use assets are depreciated on a straight-line basis over the unexpired period of the lease or the estimated useful life of the asset, whichever is the shorter. Where the company expects to obtain ownership of the leased asset at the end of the lease term, the depreciation is over its estimated useful life. Right-of use assets are subject to impairment or adjusted for any remeasurement of lease liabilities. The company has elected not to recognise a right-of-use asset and corresponding lease liability for short-term leases with terms of 12 months or less and leases of low-value assets. Lease payments on these assets are expensed to profit or loss as incurred. |
Current Liabilities - Trade and
Current Liabilities - Trade and Other Payables | 12 Months Ended |
Dec. 31, 2022 | |
Current Liabilities - Trade and Other Payables [Abstract] | |
Current liabilities - trade and other payables | Note 15. Current liabilities - trade and other payables Consolidated Consolidated 2022 2021 2022 AUD$ AUD$ $ Trade payables 299,289 214,778 203,322 Other payables 1,309,557 936,677 889,644 1,608,846 1,151,455 1,092,966 Refer to notes 2 and 24 for further information on financial instruments. Amounts noted above in other payables include amounts payable to Directors for wages payable. Accounting policy for trade and other payables These amounts represent liabilities for goods and services provided to the company prior to the end of the financial year and which are unpaid. Due to their short-term nature, they are measured at amortised cost and are not discounted. The amounts are unsecured and are usually paid within 30 days of recognition. |
Lease Liabilities
Lease Liabilities | 12 Months Ended |
Dec. 31, 2022 | |
Current Liabilities - Lease Liabilities [Abstract] | |
Lease Liabilities | Note 16. Lease liabilities Consolidated Consolidated 2022 2021 2022 AUD$ AUD$ $ Current 333,850 305,414 226,800 Non-current 95,403 336,246 64,812 429,253 641,660 291,612 Refer to notes 2 and 24 for further information on financial instruments. Accounting policy for lease liabilities A lease liability is recognised at the commencement date of a lease. The lease liability is initially recognised at the present value of the lease payments to be made over the term of the lease, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the company’s incremental borrowing rate. Lease payments comprise of fixed payments less any lease incentives receivable, variable lease payments that depend on an index or a rate, amounts expected to be paid under residual value guarantees, exercise price of a purchase option when the exercise of the option is reasonably certain to occur, and any anticipated termination penalties. The variable lease payments that do not depend on an index or a rate are expensed in the period in which they are incurred. Lease liabilities are measured at amortised cost using the effective interest method. The carrying amounts are remeasured if there is a change in the following: future lease payments arising from a change in an index, or a rate used; residual guarantee; lease term; certainty of a purchase option and termination penalties. When a lease liability is remeasured, an adjustment is made to the corresponding right-of use asset, or to profit or loss if the carrying amount of the right-of-use asset is fully written down. |
Current Liabilities - Warranty
Current Liabilities - Warranty Liability | 12 Months Ended |
Dec. 31, 2022 | |
Current Liabilities - Warranty Liability [Abstract] | |
Current liabilities - Warranty liability | Note 17. Current liabilities - Warranty liability Consolidated Consolidated 2022 2021 2022 AUD$ AUD$ $ Warrants at fair value 1,097,520 - 745,598 On 25 August 2022 the Company completed its US listing via the issuance of 3,220,338 ADSs (American Depository Shares) and the accompanying 3,220,338 pre-funded warrants for a total consideration of $13,299,996. One ADS represents 275 ordinary shares in the Company. One pre-funded warrant gives the holder the right to purchase one ADS. The warrants have 5-year term, and they can be exercised any time before expiry date 24 August 2027. The warrants represent financial liabilities at fair value through profit or loss. Refer to note 20 for further information on issued capital. |
Non-Current Liabilities - Emplo
Non-Current Liabilities - Employee Benefits | 12 Months Ended |
Dec. 31, 2022 | |
Non-Current Liabilities - Employee Benefits [Abstract] | |
Non-current liabilities - employee benefits | Note 18. Non-current liabilities - employee benefits Consolidated Consolidated 2022 2021 2022 AUD$ AUD$ $ Employee benefits 203,636 818,190 138,339 The company’s liabilities for severance pay retirement and pension pursuant to Israeli law and employment agreements are recognized by full - in part by managers’ insurance policies, for which the company makes monthly payments and accrued amounts in severance pay funds and the rest by the liabilities which are included in the financial statements. Statement of financial position amounts The amounts recognized in the statement of financial position are determined as follows: Consolidated Consolidated 2022 2021 2022 AUD$ AUD$ $ Present value of the defined benefit obligation 313,227 1,026,565 212,790 Fair value of defined benefit plan assets (109,591 ) (208,375 ) (74,451 ) Net liability in the statement of financial position 203,636 818,190 138,339 Movement in plan assets: Consolidated Consolidated 2022 2021 2022 AUD$ AUD$ $ Balance at the beginning of the year 208,375 166,437 141,559 Interest income 3,002 2,472 2,039 Contributions 21,432 20,591 14,560 Payments (withdrawal) (120,412 ) - (81,801 ) Re measurements gain/(loss) Return on plan assets (excluding interest) 6,432 824 4,370 Foreign exchanges differences (9,238 ) 18,051 (6,276 ) Balance at the end of the year 109,591 208,375 74,451 Reconciliations Consolidated Consolidated 2022 2021 2022 AUD$ AUD$ $ Reconciliation of the present value of the defined benefit obligation Balance at the beginning of the year 1,026,565 869,550 697,395 Interest cost 11,153 14,831 7,577 Current service cost 40,309 65,917 27,384 Redeemed accrued benefits (384,273 ) - (261,055 ) Actuarial loss/(gains) from financial assumptions (340,909 ) (14,419 ) (231,596 ) Foreign exchanges differences (39,618 ) 90,686 (26,915 ) Balance at the end of the year 313,227 1,026,565 212,790 |
Non-Current Liabilities - Gover
Non-Current Liabilities - Governmental Liabilities on Grants Received | 12 Months Ended |
Dec. 31, 2022 | |
Non-Current Liabilities - Governmental Liabilities on Grants Received [Abstract] | |
Non-current liabilities - Governmental liabilities on grants received | Note 19. Non-current liabilities - Governmental liabilities on grants received Consolidated Consolidated 2022 2021 2022 AUD$ AUD$ $ Governmental liabilities on grants received 6,084 5,175 4,133 Accounting policy for Government liabilities on grants received The Company measured the value of its governmental liabilities on grants received, each period, based on discounted cash flows derived from Company’s future anticipated revenues. The Company participates in programs sponsored by the Israeli Innovation Authority- Office of Chief Scientist (“OCS”), for the support of research and development projects. Several programs are subjected to royalties, while others are not (the company is committed to pay royalties for the R&D programs, while the research programs do not require repayment). In exchange for the Chief Scientist’s participation in the programs, the Company is required to pay royalties to the Chief Scientist at a rate between 3% and 3.5% of sales of developed products linked to U.S dollars, until repayment of 100% of the amount of grants received, plus annual interest at the LIBOR rate. The company is required to pay royalties, to the OCS, of sales to end customers of products developed with funds provided by the Chief Scientist, if and when such sales are recognized. The obligation to pay these royalties is contingent on actual sales of the products. Changes in the liability are recognized in research and development expenses. The exceptions of the Company to pay the grants are based on its estimation at the end of each year. |
Equity - Issued Capital
Equity - Issued Capital | 12 Months Ended |
Dec. 31, 2022 | |
Equity - Issued Capital [Abstract] | |
Equity - issued capital | Note 20. Equity - issued capital Consolidated 2022 2021 2020 2022 2021 2020 2022 Shares Shares Shares AUD$ AUD$ AUD$ $ Ordinary shares - fully paid 1,331,279,665 321,936,715 257,936,715 41,636,762 26,504,136 22,884,795 28,285,844 Movements in ordinary share capital Details Date Shares Issue price AUD$ $ Balance 1 January 2020 257,936,715 22,884,795 Balance 31 December 2020 257,936,715 22,884,795 Placement (*) 17 May 2021 64,000,000 $ 0.06 3,840,000 Capital raising costs - - (220,659 ) Balance 31 December 2021 321,936,715 26,504,136 Issue of IPO shares (net of warrant fair value) (**) 29 August 2022 885,592,950 $ 0.015 13,662,563 9,281,632 Exercise of 450,000 pre-funded warrants 31 August 2022 123,750,000 $ 0.026 4,085,533 2,775,498 Capital raising costs - - (2,615,470 ) (1,776,814 ) Balance 31 December 2022 1,331,279,665 41,636,762 28,285,844 (*) On 15 July 2021, the Company issued 64,000,000 options to investors in the Company’s May 2021 capital raising. The options have an exercise price of AUD$0.09 ($0.07), expire July 15, 2023. (**) On 24 August 2022, the Company issued 3,220,338 units to shareholders in the Company’s August 2022 Nasdaq listing & IPO. Each unit consists of a single ADS and single pre-funded warrant exercisable to a single ADS. The warrants have an exercise price of AUD$7.36 ($5.00), expire August 24, 2027. Ordinary shares Ordinary shares entitle the holder to participate in dividends and the proceeds on the winding up of the company in proportion to the number of and amounts paid on the shares held. The fully paid ordinary shares have no par value and the Company does not have a limited amount of authorised capital. On a show of hands every member present at a meeting in person or by proxy shall have one vote and upon a poll each share shall have one vote. Capital risk management The company’s objectives when managing capital is to safeguard its ability to continue as a going concern, so that it can provide returns for shareholders and benefits for other stakeholders and to maintain an optimum capital structure to reduce the cost of capital. Capital is regarded as total equity, as recognised in the statement of financial position, plus net debt. Net debt is calculated as total borrowings less cash and cash equivalents. In order to maintain or adjust the capital structure, the company may adjust the amount of dividends paid to shareholders, return capital to shareholders, issue new shares or sell assets to reduce debt. The company would look to raise capital when an opportunity to invest in a business or company was seen as value adding relative to the current Company’s share price at the time of the investment. The company is not actively pursuing additional investments in the short term as it continues to integrate and grow its existing businesses in order to maximise synergies. Accounting policy for issued capital Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new shares or options are shown in equity as a deduction, net of tax, from the proceeds. Warrants The Company accounts for warrants issued to investors under IFRS 9. a. On August 24, 2022, under Nasdaq dual listing & IPO the Company issued a total of 3,220,338 units each includes single ADS and single tradable pre-funded warrant exercised to single ADS at an exercise price of $5.00. The Company recorded these warrants as a derivative financial liability which represents the fair value of the warrants on the transaction date due to the fact that they do not meet the criteria for a fixed number of equity instruments in exchange for a fixed amount of cash. The derivative financial liability is re-measured at each reporting date, with changes in fair value recognized under fair value gains/(losses) from financial liability. The derivative financial liability as of August 24, 2022, amounted to AUD$5,598,835 ($3,865,996). On December 31, 2022, it amounted to AUD$1,044,955 ($707,957). The amounts were recorded at fair value according to a valuation performed by an independent third-party appraiser. The fair value of the pre-funded warrants was classified as a level 2 fair value measurement. On August 31, 2022, 450,000 pre-funded warrants were exercised into ADS for AUD$3,259,925 ($2,250,000). See also Note 22. The fair value of the pre-funded warrants on August 31, 2022 (exercise date), measured using a Hull-White trinomial option pricing model, was AUD$825,609 ($569,832). b. On August 24, 2022, under Nasdaq dual listing & IPO the Company issued a total 161,017 representative warrants to the underwriter each exercised to single ADS at an exercise price of $5.16. The representative warrant carrying a cashless exercise option with variable exercise mechanism. The Company recorded these warrants as a derivative financial liability which represents the fair value of the warrants on the transaction date due to the fact that they do not meet the criteria for a fixed number of equity instruments in exchange for a fixed amount of cash. The derivative financial liability is re-measured at each reporting date, with changes in fair value recognized under fair value gains/(losses) from financial liability. The derivative financial liability as of August 24,2022 amounted to AUD$281,436 ($194,332), reflecting the average between high and low valuation inputs. On December 31, 2022, it amounted to AUD$52,565 ($39,272) reflecting the average between high and low valuation inputs. The fair value of the representative warrants was classified as a level 2 fair value measurement. The pre-funded warrant and representative warrant are referred herein together as “Warrants”. For the year ended December 31, 2022, the Company recorded fair value gains, net of AUD$3,768,466 ($2,560,099) under the statement of comprehensive loss as a result of the change in the fair value of Warrants. A summary of changes in share purchase warrants issued by the Company during the year ended December 31, 2022 is as follows: Number of Weighted Balance, December 31, 2021 - Issuance of warrants 3,381,355 5.01 August 31, 2022 warrants exercise (450,000 ) 5.00 Balance, December 31, 2022 2,931,355 5.01 Fair value measurements using input type Level 1 Level 2 Level 3 Total Balance as of December 31, 2021 - - - - Warrants issued during the period - AUD$ 5,598,835 - AUD$ 5,598,835 Fair value loss (gain) recognized in consolidated statement of profit or loss and other comprehensive income - (3,768,466 ) - (3,768,466 ) Transfer upon exercise - (825,609 ) - (825,609 ) Translation adjustments 92,760 92,760 Warrant liability as of December 31, 2022 - AUD$ 1,097,520 - AUD$ 1,097,520 |
Equity - Reserves
Equity - Reserves | 12 Months Ended |
Dec. 31, 2022 | |
Equity Reserves [Abstract] | |
Equity - reserves | Note 21. Equity - reserves Consolidated Consolidated 2022 2021 2020 2022 AUD$ AUD$ AUD$ $ Foreign currency reserve (697,705 ) 237,437 198,160 (473,984 ) Re-measurements of defined benefit plans reserve (142,432 ) (508,949 ) (474,752 ) (96,761 ) (840,137 ) (271,512 ) (276,592 ) (570,745 ) Foreign currency reserve The reserve is used to recognise exchange differences arising from the translation of the financial statements of foreign operations to Australian dollars. Re-measurements of defined benefit plans reserves The reserve is used for remeasurements comprising actuarial gains and losses on the net defined benefit liability. Movements in reserves Movements in each class of reserve during the current and previous financial year are set out below: Re-measurement Foreign reserve reserve Total Total Consolidated AUD$ AUD$ AUD$ $ Balance at 1 January 2020 (481,202 ) 22,324 (458,878 ) Re-measurement of defined benefit plans 6,450 6,450 Re-allocation between accumulated losses and foreign currency reserve - 175,836 175,836 Balance at 31 December 2020 (474,752 ) 198,160 (276,592 ) Re-measurement of defined benefit plans (34,197 ) (34,197 ) Re-allocation between accumulated losses and foreign currency reserve - 39,277 39,277 Balance at 31 December 2021 (508,949 ) 237,437 (271,512 ) Re-measurement of defined benefit plans 366,517 366,517 248,993 Re-allocation between accumulated losses and foreign currency reserve - (935,142 ) (935,142 ) (635,287 ) Balance at 31 December 2022 (142,432 ) (697,705 ) (840,137 ) (570,745 ) |
Equity - Dividends
Equity - Dividends | 12 Months Ended |
Dec. 31, 2022 | |
Equity Dividends [Abstract] | |
Equity - dividends | Note 22. Equity - dividends There were no dividends paid, recommended or declared during the current or previous financial year. |
Equity _ Share-Based Compensati
Equity – Share-Based Compensation and Share-Based Payment Reserve | 12 Months Ended |
Dec. 31, 2022 | |
Equity – Share-Based Compensation and Share-Based Payment Reserve [Abstract] | |
Equity – share-based compensation and share-based payment reserve | Note 23. Equity – share-based compensation and share-based payment reserve The Company has adopted a share incentive plan (the “Plan”) under which it is authorized to grant options to officers, directors, employees and consultants enabling them to acquire up to 5% of the issued and outstanding common stock of the Company. The options expiration and vesting schedule are as determined by the Board of Directors. The exercise price of each option granted may not be less than the fair market value of the common shares at the time of grant. A summary of changes in stock options for the years ended December 31, 2022, 2021 and 2020 is presented below: Number of Weighted Weighted Balance, January 1, 2020 21,162,717 AUD$ 0.15 $ Granted (i) 12,650,000 0.08 Expired (ii) (3,400,000 ) 0.20 Forfeited (iii) (5,464,475 ) 0.11 Balance, December 31, 2020 24,948,242 AUD$ 0.11 Granted (iv) 11,500,000 0.08 Expired (v) (921,116 ) 0.05 Forfeited (vi) (4,295,425 ) 0.09 Balance, December 31, 2021 31,231,701 AUD$ 0.10 Granted (vii) 7,503,678 0.05 0.03 Expired (viii) (3,350,000 ) 0.18 0.12 Forfeited (ix) (5,770,000 ) 0.08 0.05 Balance, December 31, 2022 29,615,379 AUD$ 0.09 $ 0.06 i. During the year ended December 31,2020, the Company issued a total of 12,650,000 options, as follows: a. On December 29, 2020, the Company issued 6,450,000 options to employees, which vest over three years (33% each year) The total fair value of the options was AUD$290,103. The fair value was estimated using the Black-Scholes option pricing model with the following weighted average assumptions: share price - AUD$0.08; exercise price - AUD$0.08; expected life - 3.5 year; annualized volatility 77.81%; dividend yield - 0%; risk free rate - 0.1%. b. On December 29, 2020, the Company issued 6,200,000 options to employees, which vest over four years (25% each year) The total fair value of the options was AUD$287,623. The fair value was estimated using the Black-Scholes option pricing model with the following weighted average assumptions: share price - AUD$0.08; exercise price - AUD$0.08; expected life – 3.75 years; annualized volatility 77.81%; dividend yield - 0%; risk free rate - 0.22%. ii. During the year ended December 31, 2020, 3,400,000 options with a fair value of AUD$424,413 expired and the Company recorded a charge to the share-based payment reserve with a corresponding credit to accumulated deficit. iii. During the year ended December 31, 2020, 5,464,475 options were forfeited with a total fair value of AUD$870,246 and the Company recorded a charge to the share-based payment reserve with a corresponding credit to accumulated deficit. iv. On July 15, 2021, the Company issued 11,500,000 options to directors of the Company, which vest over three years (33% each year). The total fair value of the options was AUD$337,870. The fair value was estimated using the Black-Scholes option pricing model with the following weighted average assumptions: share price - AUD$0.057; exercise price - AUD$0.08; expected life - 5 year; annualized volatility 73.13%; dividend yield - 0%; risk free rate - 0.04%. v. During the year ended December 31, 2021, 921,116 options with a fair value of AUD$44,359 expired and the Company recorded a charge to the share-based payment reserve with a corresponding credit to accumulated deficit. vi. During the year ended December 31, 2021, 4,295,425 options were forfeited with a total fair value of AUD$206,504 and the Company recorded a charge to the share-based payment reserve with a corresponding credit to accumulated deficit. vii. On April 13, 2022, the Company issued 7,503,678 options to employees and consultant of the Company. 1,380,000 options are fully vested at date of grant, 573,678 options are vested after 18 months, 2,000,000 options are vested after 3 years, and 3,550,000 options are vested after 4 years. a. The fair value of 400,000 options was AUD$9,520 ($6,467). The fair value was estimated using the Black-Scholes option pricing model with the following weighted average assumptions: share price - AUD$0.044; exercise price - AUD$0.08; expected life - 5 year; annualized volatility 80.4%; dividend yield - 0%; risk free rate - 0.025%. b. The fair value of the 573,678 options was AUD$14,313 ($9,724). The fair value was estimated using the Black-Scholes option pricing model with the following weighted average assumptions: share price - AUD$0.044; exercise price - AUD$0.07; expected life - 5 year; annualized volatility 80.4%; dividend yield - 0%; risk free rate - 0.025%. a. The fair value of the 6,530,000 options was AUD$181,273 ($123,147). The fair value was estimated using the Black-Scholes option pricing model with the following weighted average assumptions: share price - AUD$0.044; exercise price - AUD$0.05; expected life - 5 year; annualized volatility 80.4%; dividend yield - 0%; risk free rate - 0.025%. viii. During the year ended December 31, 2022, 3,350,000 options with a fair value of AUD$311,840 ($211,848) expired and the Company recorded a charge to the share-based payment reserve with a corresponding credit to accumulated deficit. ix. During the year ended December 31, 2021, 5,770,000 options were forfeited with a total fair value of AUD$236,959 ($160,977) and the Company recorded a charge to the share-based payment reserve with a corresponding credit to accumulated deficit. x. The Company recognized share-based compensation expense of AUD$ 309,256 ($210,092) for the year ended December 31, 2022 (2021: AUD$223,171, 2020: AUD$173,134) in relation to the vesting of options issued in previous years. xi. As at December 31, 2022, stock options were outstanding for the purchase of common shares as follows: Number of Exercise Exercisable At Expiry Date 614,090 AUD$ 0.20 614,090 October 20, 2026 767,611 AUD$ 0.12 767,611 November 5, 2025 1,800,000 AUD$ 0.12 1,800,000 April 16, 2023 400,000 AUD$ 0.15 400,000 May 29, 2024 3,000,000 AUD$ 0.15 3,000,000 June 25, 2025 5,120,000 AUD$ 0.15 3,425,000 December 29, 2025 11,500,000 AUD$ 0.08 3,833,333 July 8, 2026 400,000 AUD$ 0.08 400,000 April 13, 2027 573,678 AUD 0.07 - April 13, 2027 5,440,000 AUD 0.05 1,302,500 April 13, 2027 29,615,379 15,542,534 As at December 31, 2022, options outstanding have a weighted average remaining contractual life of 3.25 years (December 31, 2021 – 3.56 years). |
Financial Instruments
Financial Instruments | 12 Months Ended |
Dec. 31, 2022 | |
Financial Instruments [Abstract] | |
Financial instruments | Note 24. Financial instruments Financial risk management objectives The company’s activities expose it to a variety of financial risks: market risk (including foreign currency risk, price risk and interest rate risk), credit risk and liquidity risk. The company’s overall risk management program focuses on the unpredictability of financial markets and seeks to minimise potential adverse effects on the financial performance of the company. The company uses different methods to measure different types of risk to which it is exposed. These methods include sensitivity analysis in the case of interest rate, foreign exchange and other price risks, ageing analysis for credit risk and beta analysis in respect of investment portfolios to determine market risk. Risk management is carried out by senior finance executives (‘finance’) under policies approved by the Board of Directors (‘the Board’). These policies include identification and analysis of the risk exposure of the company and appropriate procedures, controls and risk limits. Finance identifies, evaluates and hedges financial risks within the company’s operating units. Finance reports to the Board on a monthly basis. Market risk Foreign currency risk The company undertakes certain transactions denominated in foreign currency and is exposed to foreign currency risk through foreign exchange rate fluctuations. Foreign exchange risk arises from future commercial transactions and recognised financial assets and financial liabilities denominated in a currency that is not the entity’s functional currency. The risk is measured using sensitivity analysis and cash flow forecasting. The carrying amount of the company’s foreign currency denominated financial assets and financial liabilities at the reporting date were as follows (holdings are shown in AUD equivalents): Assets Liabilities Assets Liabilities 2022 2021 2022 2021 2022 2022 Consolidated AUD$ AUD$ AUD$ AUD$ $ $ US dollars 18,061,483 548,764 31,233 39,979 12,270,029 21,218 Euros 1,826 2,272 871 - 1,240 592 Israeli New Shekel 1,849,492 1,535,738 - - 1,256,448 - 19,912,801 2,086,774 32,104 39,979 13,527,717 21,810 Foreign exchange risk arises from future commercial transactions and recognised financial assets and financial liabilities denominated in a currency that is not the entity’s functional currency. The risk is measured using sensitivity analysis. Price risk Price risk is the risk that future cashflows derived from financial instruments will be changed as a result of a market price movement, other than foreign currency rates and interest rates. The company is not exposed to any significant price risk. Interest rate risk The company’s exposure to the risk of changes in market interest rates relates primarily to the company’s cash deposits with floating interest rates. These financial assets with variable rates expose the company to interest rate risk. Credit risk Credit risk refers to the risk that a counterparty will default on its contractual obligations resulting in financial loss to the company. The company has a strict code of credit, including obtaining agency credit information, confirming references and setting appropriate credit limits. The company obtains guarantees where appropriate to mitigate credit risk. The maximum exposure to credit risk at the reporting date to recognised financial assets is the carrying amount, net of any provisions for impairment of those assets, as disclosed in the statement of financial position and notes to the financial statements. The company does not hold any collateral. The company has adopted a lifetime expected loss allowance in estimating expected credit losses to trade receivables through the use of a provisions matrix using fixed rates of credit loss provisioning. These provisions are considered representative across all customers of the company based on recent sales experience, historical collection rates and forward-looking information that is available. Generally, trade receivables are written off when there is no reasonable expectation of recovery. Indicators of this include the failure of a debtor to engage in a repayment plan, no active enforcement activity and a failure to make contractual payments for a period greater than 1 year. Liquidity risk Vigilant liquidity risk management requires the company to maintain sufficient liquid assets (mainly cash and cash equivalents) and available borrowing facilities to be able to pay debts as and when they become due and payable. The company manages liquidity risk by maintaining adequate cash reserves and available borrowing facilities by continuously monitoring actual and forecast cash flows and matching the maturity profiles of financial assets and liabilities. Remaining contractual maturities The following tables detail the company’s remaining contractual maturity for its financial instrument liabilities. The tables have been drawn up based on the undiscounted cash flows of financial liabilities based on the earliest date on which the financial liabilities are required to be paid. The tables include both interest and principal cash flows disclosed as remaining contractual maturities and therefore these totals may differ from their carrying amount in the statement of financial position. Weighted 1 year Between 1 Between 2 Over Remaining Remaining Consolidated - 2022 % AUD$ AUD$ AUD$ AUD$ AUD$ $ Non-derivatives Non-interest bearing Trade payables - 299,289 - - - 299,289 203,321 Other payables - 1,309,557 - - - 1,309,557 889,644 Government liabilities - - - - 6,084 6,084 4,133 Total non-derivatives 1,608,846 - - 6,084 1,614,930 1,097,099 Weighted 1 year Between 1 Between 2 Over Remaining Consolidated - 2021 % AUD$ AUD$ AUD$ AUD$ AUD$ Non-derivatives Non-interest bearing Trade payables - 214,778 - - - 214,778 Other payables - 936,677 - - - 936,677 Government liabilities - - - - 5,175 5,175 Total non-derivatives 1,151,455 - - 5,175 1,156,630 The cash flows in the maturity analysis above are not expected to occur significantly earlier than contractually disclosed above. Fair value of financial instruments Unless otherwise stated, the carrying amounts of financial instruments reflect their fair value. Refer to note 2 for further information on Fair value of financial instruments. |
Key Management Personnel Disclo
Key Management Personnel Disclosures | 12 Months Ended |
Dec. 31, 2022 | |
Key Management Personnel Disclosures [Abstract] | |
Key management personnel disclosures | Note 25. Key management personnel disclosures Directors The following persons were directors of Mobilicom Limited during the financial year: Mr Oren Elkayam (Chairman and Managing Director) Mr Yossi Segal (Executive Director) Mr Campbell McComb (Non-executive director) Mr Jon Brett (Non-executive director) Mr Theo Psaros (Non-executive Director) (appointed 20 January 2021 and resigned 5 July 2021) Compensation The aggregate compensation made to directors and other members of key management personnel of the company is set out below: Consolidated Consolidated 2022 2021 2022 AUD$ AUD$ $ Short-term employee benefits 821,414 647,248 558,026 Post-employment benefits 294,171 157,798 199,844 Israel deferred payments 653,768 - 444,136 Share-based payments 93,036 46,518 63,204 1,862,389 851,564 1,265,210 |
Government Grants
Government Grants | 12 Months Ended |
Dec. 31, 2022 | |
Government Grants [Abstract] | |
Government grants | Note 26. Government grants The Company participates in programs sponsored by the Chief Scientist (“OCS”), for the support of research and development projects. Several programs are subjected to royalties, while others are not (the company is committed to pay royalties for the R&D programs, while the research programs do not require repayment). In exchange for the Chief Scientist’s participation in the programs, the Company is required to pay royalties to the Chief Scientist at a rate between 3% and 3.5% of sales of developed products linked to U.S dollars, until repayment of 100% of the amount of grants received, plus annual interest at the LIBOR rate. The company is required to pay royalties, to the OCS, of sales to end customers of products developed with funds provided by the Chief Scientist, if and when such sales are recognised. The obligation to pay these royalties is contingent on actual sales of the products. Changes in the liability are recognised in research and development expenses. The exceptions of the Company to pay the grants are based on its estimation at the end of each year. |
Commitments
Commitments | 12 Months Ended |
Dec. 31, 2022 | |
Commitments [Abstract] | |
Commitments | Note 27. Commitments There were no commitments for the current or previous financial year. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2022 | |
Related Party Transactions [Abstract] | |
Related party transactions | Note 28. Related party transactions Parent entity Mobilicom Limited is the parent entity. Subsidiaries Interests in subsidiaries are set out in note 29. Key management personnel Disclosures relating to key management personnel are set out in note 25. Receivable from and payable to related parties The following balances are outstanding at the reporting date in relation to transactions with related parties: Consolidated Consolidated 2022 2021 2022 AUD$ AUD$ $ Current payables: Payables to related parties 25,667 3,667 17,437 Terms and conditions All transactions were made on normal commercial terms and conditions and at market rates. |
Interests in Subsidiaries
Interests in Subsidiaries | 12 Months Ended |
Dec. 31, 2022 | |
Interests in Subsidiaries [Abstract] | |
Interests in Subsidiaries | Note 29. Interests in subsidiaries The consolidated financial statements incorporate the assets, liabilities and results of the following subsidiary in accordance with the accounting policy described in note 2: Principal place of business / Ownership interest Country of incorporation 2022 2021 Name % % Mobilicom Ltd (“Mobilicom Israel”) Israel 100.00 % 100.00 % Mobilicom Inc (*) United States 100.00 % - (*) Incorporated on December 28, 2022, in Delaware. |
Reconciliation of Loss after In
Reconciliation of Loss after Income Tax to Net Cash Used in Operating Activities | 12 Months Ended |
Dec. 31, 2022 | |
Reconciliation of loss after income tax to net cash used in operating activities [Abstract] | |
Reconciliation of loss after income tax to net cash used in operating activities | Note 30. Reconciliation of loss after income tax to net cash used in operating activities Consolidated 2022 2021 2020 2022 AUD$ AUD$ AUD$ $ Loss after income tax expense for the year (341,469 ) (2,704,845 ) (2,781,899 ) (231,978 ) Adjustments for: Depreciation and amortisation 375,516 224,154 301,587 * 255,106 Share-based payments 309,256 223,171 173,134 210,092 Net gain on fair value movement of warrants (3,768,466 ) - - (2,560,099 ) Foreign exchange differences (428,414 ) 172,573 163,621 * (291,037 ) Lease interest 22,004 31,382 12,238 14,948 Change in operating assets and liabilities: Decrease (increase) in trade and other receivables 88,317 (239,623 ) 797,104 59,998 Decrease (increase) in inventories (347,668 ) 312,014 (277,957 ) (236,188 ) Increase in prepayments (221,127 ) (70,763 ) 5,943 (150,222 ) Increase in trade and other payables 457,392 132,260 (412,547 ) 310,728 Increase (decrease) in employee benefits (614,554 ) 115,077 41,783 (417,496 ) Increase (decrease) in Government liabilities 909 (1,579 ) (143,178 ) 616 Net cash used in operating activities (4,468,304 ) (1,806,179 ) (2,120,171 ) (3,035,532 ) * Reclassified |
Earnings per Share
Earnings per Share | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of Earnings Per Share Text Block [Abstract] | |
Earnings per share | Note 31. Earnings per share Consolidated 2022 2021 2020 2022 AUD$ AUD$ AUD$ $ Loss after income tax attributable to the owners of Mobilicom Limited (341,469 ) (2,704,845 ) (2,781,899 ) (231,976 ) Number Number Number Number Weighted average number of ordinary shares used in calculating basic earnings per share 664,158,704 297,914,797 257,936,715 664,158,704 Weighted average number of ordinary shares used in calculating diluted earnings per share 664,158,704 297,914,797 257,936,715 664,158,704 AUD$ Cents AUD$ Cents AUD$ Cents $ Cents Basic earnings per share (0.05 ) (0.91 ) (1.08 ) (0.03 ) Diluted earnings per share (0.05 ) (0.91 ) (1.08 ) (0.03 ) The rights to options held by option holders have not been included in the weighted average number of ordinary shares for the purposes of calculating diluted EPS as they do not meet the requirements for inclusion in IASB 133 “Earnings per Share”. The rights to options are non-dilutive as the company is loss generating. Accounting policy for earnings per share Basic earnings per share Basic earnings per share is calculated by dividing the profit attributable to the owners of Mobilicom Limited, excluding any costs of servicing equity other than ordinary shares, by the weighted average number of ordinary shares outstanding during the financial year, adjusted for bonus elements in ordinary shares issued during the financial year. Diluted earnings per share Diluted earnings per share adjusts the figures used in the determination of basic earnings per share to take into account the after-income tax effect of interest and other financing costs associated with dilutive potential ordinary shares and the weighted average number of shares assumed to have been issued for no consideration in relation to dilutive potential ordinary shares. |
Share-Based Payments
Share-Based Payments | 12 Months Ended |
Dec. 31, 2022 | |
Share-Based Payments [Abstract] | |
Share-Based Payments | Note 32. Share-based payments Set out below is a summary of options granted and on issue at the end of the year. Balance at Balance at 2022 Exercise the start of the end of Grant date Expiry date price the year Granted Exercised Forfeited Expired the year 27/04/2017 27/04/2022 AUD$ 0.20 1,850,000 - - - (1,850,000 ) - 20/10/2016 20/10/2026 AUD$ 0.12 614,090 - - - - 614,090 05/11/2015 05/11/2025 AUD$ 0.12 767,611 - - - - 767,611 17/04/2018 16/04/2023 AUD$ 0.15 2,200,000 - - (400,000 ) - 1,800,000 30/05/2018 29/05/2024 AUD$ 0.15 400,000 - - - - 400,000 30/05/2019 25/06/2025 AUD$ 0.15 3,000,000 - - - - 3,000,000 05/08/2019 05/08/2022 AUD$ 0.15 1,500,000 - - - (1,500,000 ) - 29/12/2020 29/12/2025 AUD$ 0.08 9,400,000 - - (4,280,000 ) - 5,120,000 15/07/2021 15/07/2026 AUD$ 0.08 11,500,000 - - - - 11,500,000 13/04/2022 13/04/2027 AUD$ 0.08 - 400,000 - - - 400,000 13/04/2022 13/04/2027 AUD$ 0.07 - 573,678 - - - 573,678 13/04/2022 13/04/2027 AUD$ 0.05 - 6,530,000 - (1,090,000 ) - 5,440,000 31,231,701 7,503,678 - (5,770,000 ) (3,350,000 ) 29,615,379 During the year, the company granted 7,503,678 unlisted options to employees and consultant of the Company. 1,380,000 options are fully vested at date of grant, 573,678 options will be vested after 18 months, 2,000,000 options will be vested after 3 years, and 3,550,000 options are vested after 4 years. For the options granted during the current financial year, the valuation model inputs used to determine the fair value at the grant date are as follows: Grant date Expiry date Share price at grant date Exercise price Expected volatility Dividend Risk-free Fair value at grant date 13/04/2022 13/04/2027 AUD$ 0.044 AUD$ 0.080 80.40 % - 0.025 % AUD$ 0.0238 13/04/2022 13/04/2027 AUD$ 0.044 AUD$ 0.070 80.40 % - 0.025 % AUD$ 0.0250 13/04/2022 13/04/2027 AUD$ 0.044 AUD$ 0.050 80.40 % - 0.025 % AUD$ 0.0278 Accounting policy for share-based payments Equity-settled and cash-settled share-based compensation benefits are provided to employees. Equity-settled transactions are awards of shares, or options over shares, that are provided to employees in exchange for the rendering of services. Cash-settled transactions are awards of cash for the exchange of services, where the amount of cash is determined by reference to the share price. The cost of equity-settled transactions is measured at fair value on grant date. Fair value is independently determined using the Black-Scholes option pricing 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, together with non-vesting conditions that do not determine whether the company receives the services that entitle the employees to receive payment. No account is taken of any other vesting conditions. The cost of equity-settled transactions is recognised as an expense with a corresponding increase in equity over the vesting period. The cumulative charge to profit or loss is calculated based on the grant date fair value of the award, the best estimate of the number of awards that are likely to vest and the expired portion of the vesting period. The amount recognised in profit or loss for the period is the cumulative amount calculated at each reporting date less amounts already recognised in previous periods. The cost of cash-settled transactions is initially, and at each reporting date until vested, determined by applying either the Black-Scholes option pricing model, taking into consideration the terms and conditions on which the award was granted. The cumulative charge to profit or loss until settlement of the liability is calculated as follows: ● during the vesting period, the liability at each reporting date is the fair value of the award at that date multiplied by the expired portion of the vesting period. ● from the end of the vesting period until settlement of the award, the liability is the full fair value of the liability at the reporting date. All changes in the liability are recognised in profit or loss. The ultimate cost of cash-settled transactions is the cash paid to settle the liability. Market conditions are taken into consideration in determining fair value. Therefore, any awards subject to market conditions are considered to vest irrespective of whether or not that market condition has been met, provided all other conditions are satisfied. If equity-settled awards are modified, as a minimum an expense is recognised as if the modification has not been made. An additional expense is recognised, over the remaining vesting period, for any modification that increases the total fair value of the share-based compensation benefit as at the date of modification. If the non-vesting condition is within the control of the company or employee, the failure to satisfy the condition is treated as a cancellation. If the condition is not within the control of the company or employee and is not satisfied during the vesting period, any remaining expense for the award is recognised over the remaining vesting period, unless the award is forfeited. If equity-settled awards are cancelled, it is treated as if it has vested on the date of cancellation, and any remaining expense is recognised immediately. If a new replacement award is substituted for the cancelled award, the cancelled and new award is treated as if they were a modification. |
Accounting Policies, by Policy
Accounting Policies, by Policy (Policies) | 12 Months Ended |
Dec. 31, 2022 | |
Accounting Policies [Abstract] | |
New or amended Accounting Standards and Interpretations adopted | New or amended Accounting Standards and Interpretations adopted There was no new or amended Accounting Standards and Interpretations issued by the International Accounting Standards Board (‘IASB’) that are relevant to the company’s current reporting period. Any new or amended Accounting Standards or Interpretations that are not yet mandatory have not been early adopted. |
Basis of preparation | Basis of preparation These financial statements have been prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board (‘IASB’). Historical cost convention The financial statements have been prepared under the historical cost convention, except for, where applicable, the revaluation of financial assets and liabilities at fair value through profit or loss and other comprehensive income. Critical accounting estimates The preparation of the financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company’s accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements, are disclosed in note 3. |
Principles of consolidation | Principles of consolidation The consolidated financial statements incorporate the assets and liabilities of all subsidiaries of Mobilicom Limited (‘Company’ or ‘parent entity’) as at 31 December 2022 and the results of all subsidiaries for the year then ended. Mobilicom Limited and its subsidiaries together are referred to in these financial statements as the ‘the company’. Subsidiaries are all those entities over which the company has control. The company controls an entity when the company 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. Subsidiaries are fully consolidated from the date on which control is transferred to the company. They are de-consolidated from the date that control ceases. Intercompany transactions, balances and unrealised gains on transactions between entities in the company are eliminated. Unrealised losses are also eliminated unless the transaction provides evidence of the impairment of the asset transferred. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the company. The acquisition of subsidiaries is accounted for using the acquisition method of accounting. A change in ownership interest, without the loss of control, is accounted for as an equity transaction, where the difference between the consideration transferred and the book value of the share of the non-controlling interest acquired is recognised directly in equity attributable to the parent. Where the company loses control over a subsidiary, it derecognises the assets including goodwill, liabilities and non-controlling interest in the subsidiary together with any cumulative translation differences recognised in equity. The company recognises the fair value of the consideration received and the fair value of any investment retained together with any gain or loss in profit or loss. |
Foreign currency translation | Foreign currency translation The financial statements are presented in Australian dollars, which is Mobilicom Limited’s presentation currency. The use of US Dollar is solely for the convenience of the reader. Foreign currency transactions Foreign currency transactions are translated into Australian dollars using the exchange rates prevailing at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at financial year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss. Non-monetary items are converted at the rate of exchange used to convert the related consolidated statements of financial position items, i.e., at the time of the transaction. Foreign operations The assets and liabilities of foreign operations are translated into Australian dollars using the exchange rates at the reporting date. The revenues and expenses of foreign operations are translated into Australian dollars using the average exchange rates, which approximate the rates at the dates of the transactions, for the period. All resulting foreign exchange differences are recognised in other comprehensive income through the foreign currency reserve in equity. The foreign currency reserve is recognised in profit or loss when the foreign operation or net investment is disposed of. |
Current and non-current classification | Current and non-current classification Assets and liabilities are presented in the statement of financial position based on current and non-current classification. An asset is classified as current when: it is either expected to be realised or intended to be sold or consumed in the company’s normal operating cycle; it is held primarily for the purpose of trading; it is expected to be realised within 12 months after the reporting period; or the asset is cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least 12 months after the reporting period. All other assets are classified as non-current. |
Research and development | Research and development Expenditure during the research phase of a project is recognised as an expense when incurred. Development costs are capitalised only when technical feasibility studies identify that the project will develop an intangible asset that will be completed and available for use or sale, that there are adequate technical, financial and other resources to complete the development, that it will deliver future economic benefits and these benefits can be measured reliably. |
Impairment of financial assets | Impairment of financial assets The company assesses at the end of each reporting period whether there is any objective evidence of impairment of financial assets carried at amortized cost. |
Impairment of non-financial assets | Impairment of non-financial assets Non-financial assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognised for the amount by which the asset’s carrying amount exceeds its recoverable amount. Recoverable amount is the higher of an asset’s fair value less costs of disposal and value-in-use. The value-in-use is the present value of the estimated future cash flows relating to the asset using a pre-tax discount rate specific to the asset or cash-generating unit to which the asset belongs. Assets that do not have independent cash flows are grouped together to form a cash-generating unit. |
Defined benefit plans | Defined benefit plans The Company operates a defined benefit plan in respect of severance pay pursuant to the Severance Pay Law. According to the Law, employees are entitled to severance pay upon dismissal retirement and several other events prescribed by that Law. The liability for termination of employee-employer relationship is measured using the projected unit credit method. The actuarial assumptions include rates of employee turnover and future salary increases based on the estimated timing of payment. The amounts are presented based on discounted expected future cash flows using a discount rate determined by reference to yields on corporate bonds with a term that matches the estimated term of the benefit plan. In respect of its severance pay obligation to certain of its employees, the Company makes current deposits in pension funds and insurance companies (“plan assets”). Plan assets comprise assets held by a Long-term employee benefits fund or qualifying insurance policies. Plan assets are not available to the Company’s own creditors and cannot be returned directly to the Company. The liability for employee benefits presented in the statement of financial position presents the present value of the defined benefit obligation less the fair value of the plan assets. Remeasurements, comprising of actuarial gains and losses, the effect of the asset ceiling, excluding amounts included in net interest on the net defined benefit liability and the return on plan assets (excluding amounts included in net interest on the net defined benefit liability), are recognized immediately in the statement of financial position with a corresponding debit or credit to retained earnings through OCI in the period in which they occur. Remeasurements are not reclassified to profit or loss in subsequent periods. Past service costs are recognised in profit or loss. |
Goods and Services Tax ('GST') and other similar taxes | Goods and Services Tax (‘GST’) and other similar taxes Revenues, expenses and assets are recognised net of the amount of associated GST, unless the GST incurred is not recoverable from the tax authority. In this case it is recognised as part of the cost of the acquisition of the asset or as part of the expense. Receivables and payables are stated inclusive of the amount of GST receivable or payable. The net amount of GST recoverable from, or payable to, the tax authority is included in other receivables or other payables in the statement of financial position. Cash flows are presented on a gross basis. The GST components of cash flows arising from investing or financing activities which are recoverable from, or payable to the tax authority, are presented as operating cash flows. Commitments and contingencies are disclosed net of the amount of GST recoverable from, or payable to, the tax authority. |
Segments | Segments The company operates in one segment. Management does not segregate its business for internal reporting. The company’s chief operating decision maker (“CODM”) evaluates the performance of its business based on financial data consistent with the presentation in the accompanying financial statements. The company concluded that its unified business is conducted globally and accordingly represents one operating segment. |
Fair value of financial instruments | Fair value of financial instruments Liability included in the Company’s Consolidated statement of financial position utilizes market observables inputs and data as far as possible. Inputs used in determining fair value measurement are categorized into different levels based on how observable the inputs used in the valuation technique utilized are (the ‘fair value hierarchy’): ● Level 1: Quoted priced in active markets for identical items (unadjusted) ● Level 2: Observable direct or indirect inputs other than level 1 inputs. ● Level 3: Unobservable inputs (i.e., not derived from market data). The classification of an item into the above levels is based on the lowest level of the inputs used that has a significant effect on the fair value measurement of the item. Transfers of items between levels are recognized in the period they occur. |
Revenue (Tables)
Revenue (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure Of Revenue Text Block [Abstract] | |
Schedule of revenue | Consolidated Consolidated 2022 2021 2020 2022 AUD$ AUD$ AUD$ $ Sale of goods 2,327,058 3,578,603 2,066,478 1,580,881 |
Cost of Sales (Tables)
Cost of Sales (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure Of Cost Of Sales [Abstract] | |
Schedule of cost sales | Consolidated Consolidated 2022 2021 2020 2022 AUD$ AUD$ AUD$ $ Salaries and benefits 222,693 176,787 240,010 151,286 Cost of materials 577,902 991,959 414,778 392,597 Occupancy and office expenses 22,431 14,193 17,282 15,238 Other 21,507 43,832 36,382 14,611 Depreciation 38,950 16,812 26,230 26,461 883,483 1,243,583 734,682 600,193 |
Selling and Marketing Expenses
Selling and Marketing Expenses (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Selling And Marketing Expenses [Abstract] | |
Schedule of Selling and marketing expenses | Consolidated Consolidated 2022 2021 2020 2022 AUD$ AUD$ AUD$ $ Salaries and benefits 1,800,318 1,321,555 864,554 1,223,042 Marketing services 255,306 158,706 69,783 173,441 Travel expenses 74,425 38,077 13,463 50,561 Depreciation 142,325 61,642 92,097 26,187 Occupancy and office expenses 38,547 21,608 25,772 96,688 Other 154,015 90,486 68,089 104,631 2,464,936 1,692,074 1,133,758 1,674,550 |
Research and Development (Table
Research and Development (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Research and Development [Abstract] | |
Schedule of research and development | Consolidated Consolidated 2022 2021 2020 2022 AUD$ AUD$ AUD$ $ Salaries and benefits 2,005,506 1,688,408 1,653,092 1,362,436 Materials 111,856 247,948 129,834 75,989 Royalties to the OCS 6,478 (1,924 ) (155,896 ) 4,401 Subcontractors 121,471 275,087 571,730 82,521 Depreciation 140,426 112,077 140,720 78,689 Other 199,570 137,004 127,747 152,286 2,585,307 2,458,600 2,467,227 1,756,322 |
General and Administration Ex_2
General and Administration Expenses (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure Of General And Administrative Expense Text Block [Abstract] | |
Schedule of general and administration expenses | Consolidated Consolidated 2022 2021 2020 2022 AUD$ AUD$ AUD$ $ Salaries and benefits 1,140,392 678,814 475,134 774,723 Share based payment 158,887 54,033 94,078 107,940 Professional fees 576,254 547,849 474,214 391,477 Insurance 297,855 24,894 138,746 202,347 Travel expenses 6,675 231 2,338 4,535 Depreciation 53,815 33,623 26,229 36,559 Occupancy and office expenses 48,648 20,112 15,574 33,046 Other 408,394 71,306 69,736 277,444 2,690,920 1,430,862 1,296,049 1,828,071 |
Income Tax Expense (Tables)
Income Tax Expense (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Income Tax Expense [Abstract] | |
Schedule of income tax expense | Consolidated Consolidated 2022 2021 2020 2022 AUD$ AUD$ AUD$ $ Numerical reconciliation of income tax expense and tax at the statutory rate Loss before income tax expense (327,483 ) (2,695,679 ) (2,781,899 ) (222,475 ) Tax at the statutory tax rate of 27.5% (Australian company tax rate) (90,058 ) (741,312 ) (765,022 ) (61,181 ) Tax effect amounts which are not deductible/(taxable) in calculating taxable income: Share-based payments 85,045 61,372 43,978 57,775 Other temporary differences not recognised 18,999 689,106 721,044 12,907 Income tax expense 13,986 9,166 - 9,501 |
Current Assets - Cash and Cas_2
Current Assets - Cash and Cash Equivalents (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure Of Cash And Cash Equivalents Text Block [Abstract] | |
Schedule of current assets - cash and cash equivalents | Consolidated Consolidated 2022 2021 2022 AUD$ AUD$ $ Cash and cash equivalents 18,917,416 3,947,156 12,851,506 Restricted cash 59,126 49,144 40,166 Cash at bank 18,976,542 3,996,300 12,891,672 |
Current Assets - Trade and Ot_2
Current Assets - Trade and Other Receivables (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Current Assets - Trade and Other Receivables [Abstract] | |
Schedule of current assets - trade and other receivables | Consolidated Consolidated 2022 2021 2022 AUD$ AUD$ $ Trade receivables 203,737 338,859 138,409 Other receivables 624,614 356,682 424,331 828,351 695,541 562,740 |
Current Assets - Inventories (T
Current Assets - Inventories (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Current Assets - Inventories [Abstract] | |
Schedule of inventories | Consolidated Consolidated 2022 2021 2022 AUD$ AUD$ $ Finished goods - at cost 838,658 490,990 569,740 |
Non-Current Assets - Property_2
Non-Current Assets - Property, Plant and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Non-Current Assets - Property, Plant and Equipment [Abstract] | |
Schedule of non-current assets - property, plant and equipment | Consolidated Consolidated 2022 2021 2022 AUD$ AUD$ $ Computer equipment - at cost 275,582 253,564 187,216 Less: Accumulated depreciation (242,159 ) (220,715 ) (164,510 ) 33,423 32,849 22,706 Office furniture and equipment - at cost 131,728 129,538 89,489 Less: Accumulated depreciation (41,818 ) (28,956 ) (28,409 ) 89,910 100,582 61,080 Machinery and equipment - at cost 85,309 82,889 57,955 Less: Accumulated depreciation (72,764 ) (63,749 ) (49,432 ) 12,545 19,140 8,523 135,878 152,571 92,309 |
Schedule of reconciliations of the written down value | Computer Office furniture and Machinery and equipment equipment equipment Total Total Consolidated AUD$ AUD$ AUD$ AUD$ $ Balance at 1 January 2021 12,141 106,573 24,769 143,483 Additions 30,091 443 - 30,534 Depreciation expense (9,383 ) (6,434 ) (5,629 ) (21,446 ) Balance at 31 December 2021 32,849 100,582 19,140 152,571 Additions 22,018 2,190 2,420 26,628 18,090 Depreciation expense (21,444 ) (12,862 ) (9,015 ) (43,321 ) (29,430 ) Balance at 31 December 2022 33,423 89,910 12,545 135,878 92,309 |
Schedule of depreciation is calculated on a straight-line basis to write off the net cost | Computer equipment 3 years Machinery and equipment 6-7 years Office furniture and equipment 10-14 years |
Non-Current Assets - Right-of_2
Non-Current Assets - Right-of-Use Assets (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Non-Current Assets - Right-of-Use Assets [Abstract] | |
Schedule of non-current assets of right-of-use assets | Consolidated Consolidated 2022 2021 2022 AUD$ AUD$ $ Land and buildings - right-of-use 254,409 517,719 172,832 Motor vehicles - right-of-use 172,408 92,478 117,125 426,817 610,197 289,957 |
Schedule of reconciliations of the written down values | Land and Motor Buildings Vehicle Total Total Consolidated AUD$ AUD$ AUD$ $ Balance at 1 January 2021 697,234 73,214 770,448 - Additions - 42,457 42,457 Depreciation expense (179,515 ) (23,193 ) (202,708 ) Balance at 31 December 2021 517,719 92,478 610,197 Additions - 148,815 148,815 20,961 Depreciation expense (263,310 ) (68,885 ) (332,195 ) (225,676 ) Balance at 31 December 2022 254,409 172,408 426,817 289,957 |
Current Liabilities - Trade a_2
Current Liabilities - Trade and Other Payables (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Current Liabilities - Trade and Other Payables [Abstract] | |
Schedule of Current Liabilities of Trade and Other Payables | Consolidated Consolidated 2022 2021 2022 AUD$ AUD$ $ Trade payables 299,289 214,778 203,322 Other payables 1,309,557 936,677 889,644 1,608,846 1,151,455 1,092,966 |
Lease Liabilities (Tables)
Lease Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Current Liabilities - Lease Liabilities [Abstract] | |
Schedule of lease liabilities | Consolidated Consolidated 2022 2021 2022 AUD$ AUD$ $ Current 333,850 305,414 226,800 Non-current 95,403 336,246 64,812 429,253 641,660 291,612 |
Current Liabilities - Warrant_2
Current Liabilities - Warranty Liability (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Current Liabilities - Warranty Liability [Abstract] | |
Schedule of current liabilities - warranty liability | Consolidated Consolidated 2022 2021 2022 AUD$ AUD$ $ Warrants at fair value 1,097,520 - 745,598 |
Non-Current Liabilities - Emp_2
Non-Current Liabilities - Employee Benefits (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Non-Current Liabilities - Employee Benefits [Abstract] | |
Schedule of non-current liabilities employee benefits | Consolidated Consolidated 2022 2021 2022 AUD$ AUD$ $ Employee benefits 203,636 818,190 138,339 |
Schedule of the amounts recognized in the statement of financial position are determined | Consolidated Consolidated 2022 2021 2022 AUD$ AUD$ $ Present value of the defined benefit obligation 313,227 1,026,565 212,790 Fair value of defined benefit plan assets (109,591 ) (208,375 ) (74,451 ) Net liability in the statement of financial position 203,636 818,190 138,339 |
Schedule of the movement in plan assets | Consolidated Consolidated 2022 2021 2022 AUD$ AUD$ $ Balance at the beginning of the year 208,375 166,437 141,559 Interest income 3,002 2,472 2,039 Contributions 21,432 20,591 14,560 Payments (withdrawal) (120,412 ) - (81,801 ) Re measurements gain/(loss) Return on plan assets (excluding interest) 6,432 824 4,370 Foreign exchanges differences (9,238 ) 18,051 (6,276 ) Balance at the end of the year 109,591 208,375 74,451 |
Schedule of reconciliations | Consolidated Consolidated 2022 2021 2022 AUD$ AUD$ $ Reconciliation of the present value of the defined benefit obligation Balance at the beginning of the year 1,026,565 869,550 697,395 Interest cost 11,153 14,831 7,577 Current service cost 40,309 65,917 27,384 Redeemed accrued benefits (384,273 ) - (261,055 ) Actuarial loss/(gains) from financial assumptions (340,909 ) (14,419 ) (231,596 ) Foreign exchanges differences (39,618 ) 90,686 (26,915 ) Balance at the end of the year 313,227 1,026,565 212,790 |
Non-Current Liabilities - Gov_2
Non-Current Liabilities - Governmental Liabilities on Grants Received (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Non-Current Liabilities - Governmental Liabilities on Grants Received [Abstract] | |
Schedule of non-current liabilities - governmental liabilities on grants received | Consolidated Consolidated 2022 2021 2022 AUD$ AUD$ $ Governmental liabilities on grants received 6,084 5,175 4,133 |
Equity - Issued Capital (Tables
Equity - Issued Capital (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Equity - Issued Capital [Abstract] | |
Schedule of equity issued capital | Consolidated 2022 2021 2020 2022 2021 2020 2022 Shares Shares Shares AUD$ AUD$ AUD$ $ Ordinary shares - fully paid 1,331,279,665 321,936,715 257,936,715 41,636,762 26,504,136 22,884,795 28,285,844 |
Schedule of movements in ordinary share capital | Details Date Shares Issue price AUD$ $ Balance 1 January 2020 257,936,715 22,884,795 Balance 31 December 2020 257,936,715 22,884,795 Placement (*) 17 May 2021 64,000,000 $ 0.06 3,840,000 Capital raising costs - - (220,659 ) Balance 31 December 2021 321,936,715 26,504,136 Issue of IPO shares (net of warrant fair value) (**) 29 August 2022 885,592,950 $ 0.015 13,662,563 9,281,632 Exercise of 450,000 pre-funded warrants 31 August 2022 123,750,000 $ 0.026 4,085,533 2,775,498 Capital raising costs - - (2,615,470 ) (1,776,814 ) Balance 31 December 2022 1,331,279,665 41,636,762 28,285,844 (*) On 15 July 2021, the Company issued 64,000,000 options to investors in the Company’s May 2021 capital raising. The options have an exercise price of AUD$0.09 ($0.07), expire July 15, 2023. (**) On 24 August 2022, the Company issued 3,220,338 units to shareholders in the Company’s August 2022 Nasdaq listing & IPO. Each unit consists of a single ADS and single pre-funded warrant exercisable to a single ADS. The warrants have an exercise price of AUD$7.36 ($5.00), expire August 24, 2027. |
Schedule of changes in share purchase warrants issued | Number of Weighted Balance, December 31, 2021 - Issuance of warrants 3,381,355 5.01 August 31, 2022 warrants exercise (450,000 ) 5.00 Balance, December 31, 2022 2,931,355 5.01 |
Schedule of fair value measurements | Fair value measurements using input type Level 1 Level 2 Level 3 Total Balance as of December 31, 2021 - - - - Warrants issued during the period - AUD$ 5,598,835 - AUD$ 5,598,835 Fair value loss (gain) recognized in consolidated statement of profit or loss and other comprehensive income - (3,768,466 ) - (3,768,466 ) Transfer upon exercise - (825,609 ) - (825,609 ) Translation adjustments 92,760 92,760 Warrant liability as of December 31, 2022 - AUD$ 1,097,520 - AUD$ 1,097,520 |
Equity - Reserves (Tables)
Equity - Reserves (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Equity Reserves [Abstract] | |
Schedule of equity - reserves | Consolidated Consolidated 2022 2021 2020 2022 AUD$ AUD$ AUD$ $ Foreign currency reserve (697,705 ) 237,437 198,160 (473,984 ) Re-measurements of defined benefit plans reserve (142,432 ) (508,949 ) (474,752 ) (96,761 ) (840,137 ) (271,512 ) (276,592 ) (570,745 ) |
Schedule of reserve during the current and previous financial year | Re-measurement Foreign reserve reserve Total Total Consolidated AUD$ AUD$ AUD$ $ Balance at 1 January 2020 (481,202 ) 22,324 (458,878 ) Re-measurement of defined benefit plans 6,450 6,450 Re-allocation between accumulated losses and foreign currency reserve - 175,836 175,836 Balance at 31 December 2020 (474,752 ) 198,160 (276,592 ) Re-measurement of defined benefit plans (34,197 ) (34,197 ) Re-allocation between accumulated losses and foreign currency reserve - 39,277 39,277 Balance at 31 December 2021 (508,949 ) 237,437 (271,512 ) Re-measurement of defined benefit plans 366,517 366,517 248,993 Re-allocation between accumulated losses and foreign currency reserve - (935,142 ) (935,142 ) (635,287 ) Balance at 31 December 2022 (142,432 ) (697,705 ) (840,137 ) (570,745 ) |
Equity _ Share-Based Compensa_2
Equity – Share-Based Compensation and Share-Based Payment Reserve (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Equity – Share-Based Compensation and Share-Based Payment Reserve [Abstract] | |
Schedule of changes in stock options | Number of Weighted Weighted Balance, January 1, 2020 21,162,717 AUD$ 0.15 $ Granted (i) 12,650,000 0.08 Expired (ii) (3,400,000 ) 0.20 Forfeited (iii) (5,464,475 ) 0.11 Balance, December 31, 2020 24,948,242 AUD$ 0.11 Granted (iv) 11,500,000 0.08 Expired (v) (921,116 ) 0.05 Forfeited (vi) (4,295,425 ) 0.09 Balance, December 31, 2021 31,231,701 AUD$ 0.10 Granted (vii) 7,503,678 0.05 0.03 Expired (viii) (3,350,000 ) 0.18 0.12 Forfeited (ix) (5,770,000 ) 0.08 0.05 Balance, December 31, 2022 29,615,379 AUD$ 0.09 $ 0.06 i. During the year ended December 31,2020, the Company issued a total of 12,650,000 options, as follows: a. On December 29, 2020, the Company issued 6,450,000 options to employees, which vest over three years (33% each year) The total fair value of the options was AUD$290,103. The fair value was estimated using the Black-Scholes option pricing model with the following weighted average assumptions: share price - AUD$0.08; exercise price - AUD$0.08; expected life - 3.5 year; annualized volatility 77.81%; dividend yield - 0%; risk free rate - 0.1%. b. On December 29, 2020, the Company issued 6,200,000 options to employees, which vest over four years (25% each year) The total fair value of the options was AUD$287,623. The fair value was estimated using the Black-Scholes option pricing model with the following weighted average assumptions: share price - AUD$0.08; exercise price - AUD$0.08; expected life – 3.75 years; annualized volatility 77.81%; dividend yield - 0%; risk free rate - 0.22%. ii. During the year ended December 31, 2020, 3,400,000 options with a fair value of AUD$424,413 expired and the Company recorded a charge to the share-based payment reserve with a corresponding credit to accumulated deficit. iii. During the year ended December 31, 2020, 5,464,475 options were forfeited with a total fair value of AUD$870,246 and the Company recorded a charge to the share-based payment reserve with a corresponding credit to accumulated deficit. iv. On July 15, 2021, the Company issued 11,500,000 options to directors of the Company, which vest over three years (33% each year). The total fair value of the options was AUD$337,870. The fair value was estimated using the Black-Scholes option pricing model with the following weighted average assumptions: share price - AUD$0.057; exercise price - AUD$0.08; expected life - 5 year; annualized volatility 73.13%; dividend yield - 0%; risk free rate - 0.04%. v. During the year ended December 31, 2021, 921,116 options with a fair value of AUD$44,359 expired and the Company recorded a charge to the share-based payment reserve with a corresponding credit to accumulated deficit. vi. During the year ended December 31, 2021, 4,295,425 options were forfeited with a total fair value of AUD$206,504 and the Company recorded a charge to the share-based payment reserve with a corresponding credit to accumulated deficit. vii. On April 13, 2022, the Company issued 7,503,678 options to employees and consultant of the Company. 1,380,000 options are fully vested at date of grant, 573,678 options are vested after 18 months, 2,000,000 options are vested after 3 years, and 3,550,000 options are vested after 4 years. a. The fair value of 400,000 options was AUD$9,520 ($6,467). The fair value was estimated using the Black-Scholes option pricing model with the following weighted average assumptions: share price - AUD$0.044; exercise price - AUD$0.08; expected life - 5 year; annualized volatility 80.4%; dividend yield - 0%; risk free rate - 0.025%. b. The fair value of the 573,678 options was AUD$14,313 ($9,724). The fair value was estimated using the Black-Scholes option pricing model with the following weighted average assumptions: share price - AUD$0.044; exercise price - AUD$0.07; expected life - 5 year; annualized volatility 80.4%; dividend yield - 0%; risk free rate - 0.025%. a. The fair value of the 6,530,000 options was AUD$181,273 ($123,147). The fair value was estimated using the Black-Scholes option pricing model with the following weighted average assumptions: share price - AUD$0.044; exercise price - AUD$0.05; expected life - 5 year; annualized volatility 80.4%; dividend yield - 0%; risk free rate - 0.025%. viii. During the year ended December 31, 2022, 3,350,000 options with a fair value of AUD$311,840 ($211,848) expired and the Company recorded a charge to the share-based payment reserve with a corresponding credit to accumulated deficit. ix. During the year ended December 31, 2021, 5,770,000 options were forfeited with a total fair value of AUD$236,959 ($160,977) and the Company recorded a charge to the share-based payment reserve with a corresponding credit to accumulated deficit. x. The Company recognized share-based compensation expense of AUD$ 309,256 ($210,092) for the year ended December 31, 2022 (2021: AUD$223,171, 2020: AUD$173,134) in relation to the vesting of options issued in previous years. xi. As at December 31, 2022, stock options were outstanding for the purchase of common shares as follows: |
Schedule of stock options were outstanding for the purchase of common shares | Number of Exercise Exercisable At Expiry Date 614,090 AUD$ 0.20 614,090 October 20, 2026 767,611 AUD$ 0.12 767,611 November 5, 2025 1,800,000 AUD$ 0.12 1,800,000 April 16, 2023 400,000 AUD$ 0.15 400,000 May 29, 2024 3,000,000 AUD$ 0.15 3,000,000 June 25, 2025 5,120,000 AUD$ 0.15 3,425,000 December 29, 2025 11,500,000 AUD$ 0.08 3,833,333 July 8, 2026 400,000 AUD$ 0.08 400,000 April 13, 2027 573,678 AUD 0.07 - April 13, 2027 5,440,000 AUD 0.05 1,302,500 April 13, 2027 29,615,379 15,542,534 |
Financial Instruments (Tables)
Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Financial Instruments [Abstract] | |
Schedule of company's foreign currency denominated financial assets and financial liabilities | Assets Liabilities Assets Liabilities 2022 2021 2022 2021 2022 2022 Consolidated AUD$ AUD$ AUD$ AUD$ $ $ US dollars 18,061,483 548,764 31,233 39,979 12,270,029 21,218 Euros 1,826 2,272 871 - 1,240 592 Israeli New Shekel 1,849,492 1,535,738 - - 1,256,448 - 19,912,801 2,086,774 32,104 39,979 13,527,717 21,810 |
Schedule of remaining contractual maturities | Weighted 1 year Between 1 Between 2 Over Remaining Remaining Consolidated - 2022 % AUD$ AUD$ AUD$ AUD$ AUD$ $ Non-derivatives Non-interest bearing Trade payables - 299,289 - - - 299,289 203,321 Other payables - 1,309,557 - - - 1,309,557 889,644 Government liabilities - - - - 6,084 6,084 4,133 Total non-derivatives 1,608,846 - - 6,084 1,614,930 1,097,099 Weighted 1 year Between 1 Between 2 Over Remaining Consolidated - 2021 % AUD$ AUD$ AUD$ AUD$ AUD$ Non-derivatives Non-interest bearing Trade payables - 214,778 - - - 214,778 Other payables - 936,677 - - - 936,677 Government liabilities - - - - 5,175 5,175 Total non-derivatives 1,151,455 - - 5,175 1,156,630 |
Key Management Personnel Disc_2
Key Management Personnel Disclosures (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Key Management Personnel Disclosures [Abstract] | |
Schedule of aggregate compensation made to directors and other members of key management personnel | Consolidated Consolidated 2022 2021 2022 AUD$ AUD$ $ Short-term employee benefits 821,414 647,248 558,026 Post-employment benefits 294,171 157,798 199,844 Israel deferred payments 653,768 - 444,136 Share-based payments 93,036 46,518 63,204 1,862,389 851,564 1,265,210 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Related Party Transactions [Abstract] | |
Schedule of outstanding at the reporting date in relation to transactions with related parties | Consolidated Consolidated 2022 2021 2022 AUD$ AUD$ $ Current payables: Payables to related parties 25,667 3,667 17,437 |
Interests in Subsidiaries (Tabl
Interests in Subsidiaries (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Interests in Subsidiaries [Abstract] | |
Schedule of consolidated financial statements incorporate the assets, liabilities | Principal place of business / Ownership interest Country of incorporation 2022 2021 Name % % Mobilicom Ltd (“Mobilicom Israel”) Israel 100.00 % 100.00 % Mobilicom Inc (*) United States 100.00 % - (*) Incorporated on December 28, 2022, in Delaware. |
Reconciliation of Loss after _2
Reconciliation of Loss after Income Tax to Net Cash Used in Operating Activities (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Reconciliation of loss after income tax to net cash used in operating activities [Abstract] | |
Schedule of reconciliation of loss after income tax to net cash | Consolidated 2022 2021 2020 2022 AUD$ AUD$ AUD$ $ Loss after income tax expense for the year (341,469 ) (2,704,845 ) (2,781,899 ) (231,978 ) Adjustments for: Depreciation and amortisation 375,516 224,154 301,587 * 255,106 Share-based payments 309,256 223,171 173,134 210,092 Net gain on fair value movement of warrants (3,768,466 ) - - (2,560,099 ) Foreign exchange differences (428,414 ) 172,573 163,621 * (291,037 ) Lease interest 22,004 31,382 12,238 14,948 Change in operating assets and liabilities: Decrease (increase) in trade and other receivables 88,317 (239,623 ) 797,104 59,998 Decrease (increase) in inventories (347,668 ) 312,014 (277,957 ) (236,188 ) Increase in prepayments (221,127 ) (70,763 ) 5,943 (150,222 ) Increase in trade and other payables 457,392 132,260 (412,547 ) 310,728 Increase (decrease) in employee benefits (614,554 ) 115,077 41,783 (417,496 ) Increase (decrease) in Government liabilities 909 (1,579 ) (143,178 ) 616 Net cash used in operating activities (4,468,304 ) (1,806,179 ) (2,120,171 ) (3,035,532 ) * Reclassified |
Earnings per Share (Tables)
Earnings per Share (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of Earnings Per Share Text Block [Abstract] | |
Schedule of loss after income tax | Consolidated 2022 2021 2020 2022 AUD$ AUD$ AUD$ $ Loss after income tax attributable to the owners of Mobilicom Limited (341,469 ) (2,704,845 ) (2,781,899 ) (231,976 ) |
Schedule of weighted average number of ordinary shares | Number Number Number Number Weighted average number of ordinary shares used in calculating basic earnings per share 664,158,704 297,914,797 257,936,715 664,158,704 Weighted average number of ordinary shares used in calculating diluted earnings per share 664,158,704 297,914,797 257,936,715 664,158,704 |
Schedule of earnings per share | AUD$ Cents AUD$ Cents AUD$ Cents $ Cents Basic earnings per share (0.05 ) (0.91 ) (1.08 ) (0.03 ) Diluted earnings per share (0.05 ) (0.91 ) (1.08 ) (0.03 ) |
Share-Based Payments (Tables)
Share-Based Payments (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Share-Based Payments [Abstract] | |
Schedule of summary of options granted and on issue | Balance at Balance at 2022 Exercise the start of the end of Grant date Expiry date price the year Granted Exercised Forfeited Expired the year 27/04/2017 27/04/2022 AUD$ 0.20 1,850,000 - - - (1,850,000 ) - 20/10/2016 20/10/2026 AUD$ 0.12 614,090 - - - - 614,090 05/11/2015 05/11/2025 AUD$ 0.12 767,611 - - - - 767,611 17/04/2018 16/04/2023 AUD$ 0.15 2,200,000 - - (400,000 ) - 1,800,000 30/05/2018 29/05/2024 AUD$ 0.15 400,000 - - - - 400,000 30/05/2019 25/06/2025 AUD$ 0.15 3,000,000 - - - - 3,000,000 05/08/2019 05/08/2022 AUD$ 0.15 1,500,000 - - - (1,500,000 ) - 29/12/2020 29/12/2025 AUD$ 0.08 9,400,000 - - (4,280,000 ) - 5,120,000 15/07/2021 15/07/2026 AUD$ 0.08 11,500,000 - - - - 11,500,000 13/04/2022 13/04/2027 AUD$ 0.08 - 400,000 - - - 400,000 13/04/2022 13/04/2027 AUD$ 0.07 - 573,678 - - - 573,678 13/04/2022 13/04/2027 AUD$ 0.05 - 6,530,000 - (1,090,000 ) - 5,440,000 31,231,701 7,503,678 - (5,770,000 ) (3,350,000 ) 29,615,379 |
Schedule of options granted during the current financial year, the valuation model inputs used to determine the fair value at the grant date | Grant date Expiry date Share price at grant date Exercise price Expected volatility Dividend Risk-free Fair value at grant date 13/04/2022 13/04/2027 AUD$ 0.044 AUD$ 0.080 80.40 % - 0.025 % AUD$ 0.0238 13/04/2022 13/04/2027 AUD$ 0.044 AUD$ 0.070 80.40 % - 0.025 % AUD$ 0.0250 13/04/2022 13/04/2027 AUD$ 0.044 AUD$ 0.050 80.40 % - 0.025 % AUD$ 0.0278 |
General Information (Details)
General Information (Details) | 12 Months Ended | |||||||
Dec. 31, 2022 AUD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 AUD ($) | Dec. 31, 2020 AUD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2022 USD | Dec. 31, 2022 AUD | ||
General Information (Details) [Line Items] | ||||||||
Closing foreign exchange rate | 1 | 1.472 | ||||||
Net loss | $ (341,469) | $ (231,978) | [1] | $ (2,704,845) | $ (2,781,899) | |||
Accumulated losses | 24,052,843 | $ 16,340,246 | ||||||
Liquidity Analysis [Member] | ||||||||
General Information (Details) [Line Items] | ||||||||
Net loss | $ 341,469 | $ 231,978 | ||||||
[1] US Dollars numbers presented solely for convenience of the reader |
Revenue (Details)
Revenue (Details) - AUD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Revenue (Details) [Line Items] | |||
Recognized deferred revenues (in Dollars) | $ 12,156 | $ 320,948 | $ 226,541 |
Percentage of revenue from contracts with customers | 18% | ||
Client C [Member] | |||
Revenue (Details) [Line Items] | |||
Percentage of revenue from contracts with customers | 11% | ||
Client D [Member] | |||
Revenue (Details) [Line Items] | |||
Percentage of revenue from contracts with customers | 11% | 45% | |
Client A [Member] | |||
Revenue (Details) [Line Items] | |||
Percentage of revenue from contracts with customers | 11% | 14% |
Revenue (Details) - Schedule of
Revenue (Details) - Schedule of revenue | 12 Months Ended | |||
Dec. 31, 2022 AUD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 AUD ($) | Dec. 31, 2020 AUD ($) | |
Schedule of Revenue [Abstract] | ||||
Sale of goods | $ 2,327,058 | $ 1,580,881 | $ 3,578,603 | $ 2,066,478 |
Cost of Sales (Details) - Sched
Cost of Sales (Details) - Schedule of cost sales | 12 Months Ended | |||||
Dec. 31, 2022 AUD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 AUD ($) | Dec. 31, 2020 AUD ($) | |||
Schedule Of Cost Sales Abstract | ||||||
Salaries and benefits | $ 222,693 | $ 151,286 | $ 176,787 | $ 240,010 | ||
Cost of materials | 577,902 | 392,597 | 991,959 | 414,778 | ||
Occupancy and office expenses | 22,431 | 15,238 | 14,193 | 17,282 | ||
Other | 21,507 | 14,611 | 43,832 | 36,382 | ||
Depreciation | 38,950 | 26,461 | 16,812 | 26,230 | ||
Total | $ 883,483 | $ 600,193 | $ 1,243,583 | [1] | $ 734,682 | [1] |
[1] Reclassified |
Selling and Marketing Expense_2
Selling and Marketing Expenses (Details) - Schedule of selling and marketing expenses | 12 Months Ended | |||
Dec. 31, 2022 AUD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 AUD ($) | Dec. 31, 2020 AUD ($) | |
Schedule Of Selling And Marketing Expenses Abstract | ||||
Salaries and benefits | $ 1,800,318 | $ 1,223,042 | $ 1,321,555 | $ 864,554 |
Marketing services | 255,306 | 173,441 | 158,706 | 69,783 |
Travel expenses | 74,425 | 50,561 | 38,077 | 13,463 |
Depreciation | 142,325 | 26,187 | 61,642 | 92,097 |
Occupancy and office expenses | 38,547 | 96,688 | 21,608 | 25,772 |
Other | 154,015 | 104,631 | 90,486 | 68,089 |
Total | $ 2,464,936 | $ 1,674,550 | $ 1,692,074 | $ 1,133,758 |
Research and Development (Detai
Research and Development (Details) - Schedule of research and development | 12 Months Ended | |||
Dec. 31, 2022 AUD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 AUD ($) | Dec. 31, 2020 AUD ($) | |
Schedule Of Research And Development [Abstract] | ||||
Salaries and benefits | $ 2,005,506 | $ 1,362,436 | $ 1,688,408 | $ 1,653,092 |
Materials | 111,856 | 75,989 | 247,948 | 129,834 |
Royalties to the OCS | 6,478 | 4,401 | (1,924) | (155,896) |
Subcontractors | 121,471 | 82,521 | 275,087 | 571,730 |
Depreciation | 140,426 | 78,689 | 112,077 | 140,720 |
Other | 199,570 | 152,286 | 137,004 | 127,747 |
Total | $ 2,585,307 | $ 1,756,322 | $ 2,458,600 | $ 2,467,227 |
General and Administration Ex_3
General and Administration Expenses (Details) - Schedule of General and Administration Expenses | 12 Months Ended | |||||
Dec. 31, 2022 AUD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 AUD ($) | Dec. 31, 2020 AUD ($) | |||
General and Administration Expenses (Details) - Schedule of General and Administration Expenses [Line Items] | ||||||
General and administration expenses | $ 2,690,920 | $ 1,828,071 | $ 1,430,862 | [1] | $ 1,296,049 | [1] |
Salaries and benefits [Member] | ||||||
General and Administration Expenses (Details) - Schedule of General and Administration Expenses [Line Items] | ||||||
General and administration expenses | 1,140,392 | 774,723 | 678,814 | 475,134 | ||
Share based payment [Member] | ||||||
General and Administration Expenses (Details) - Schedule of General and Administration Expenses [Line Items] | ||||||
General and administration expenses | 158,887 | 107,940 | 54,033 | 94,078 | ||
Professional fees [Member] | ||||||
General and Administration Expenses (Details) - Schedule of General and Administration Expenses [Line Items] | ||||||
General and administration expenses | 576,254 | 391,477 | 547,849 | 474,214 | ||
Insurance [Member] | ||||||
General and Administration Expenses (Details) - Schedule of General and Administration Expenses [Line Items] | ||||||
General and administration expenses | 297,855 | 202,347 | 24,894 | 138,746 | ||
Travel expenses [Member] | ||||||
General and Administration Expenses (Details) - Schedule of General and Administration Expenses [Line Items] | ||||||
General and administration expenses | 6,675 | 4,535 | 231 | 2,338 | ||
Depreciation [Member] | ||||||
General and Administration Expenses (Details) - Schedule of General and Administration Expenses [Line Items] | ||||||
General and administration expenses | 53,815 | 36,559 | 33,623 | 26,229 | ||
Occupancy and office expenses [Member] | ||||||
General and Administration Expenses (Details) - Schedule of General and Administration Expenses [Line Items] | ||||||
General and administration expenses | 48,648 | 33,046 | 20,112 | 15,574 | ||
Other [Member] | ||||||
General and Administration Expenses (Details) - Schedule of General and Administration Expenses [Line Items] | ||||||
General and administration expenses | $ 408,394 | $ 277,444 | $ 71,306 | $ 69,736 | ||
[1] Reclassified |
Income Tax Expense (Details) -
Income Tax Expense (Details) - Schedule of income tax expense | 12 Months Ended | |||
Dec. 31, 2022 AUD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 AUD ($) | Dec. 31, 2020 AUD ($) | |
Numerical reconciliation of income tax expense and tax at the statutory rate | ||||
Loss before income tax expense | $ (327,483) | $ (222,475) | $ (2,695,679) | $ (2,781,899) |
Tax at the statutory tax rate of 27.5% (Australian company tax rate) | (90,058) | (61,181) | (741,312) | (765,022) |
Tax effect amounts which are not deductible/(taxable) in calculating taxable income: | ||||
Share-based payments | 85,045 | 57,775 | 61,372 | 43,978 |
Other temporary differences not recognised | 18,999 | 12,907 | 689,106 | 721,044 |
Income tax expense | $ 13,986 | $ 9,501 | $ 9,166 |
Income Tax Expense (Details) _2
Income Tax Expense (Details) - Schedule of income tax expense (Parentheticals) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Schedule Of Income Tax Expense Abstract | |||
Statutory tax rate | 27.50% | 27.50% | 27.50% |
Current Assets - Cash and Cas_3
Current Assets - Cash and Cash Equivalents (Details) - Schedule of current assets - cash and cash equivalents | Dec. 31, 2022 AUD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 AUD ($) |
Schedule Of Current Assets Cash And Cash Equivalents Abstract | |||
Cash and cash equivalents | $ 18,917,416 | $ 12,851,506 | $ 3,947,156 |
Restricted cash | 59,126 | 40,166 | 49,144 |
Cash at bank | $ 18,976,542 | $ 12,891,672 | $ 3,996,300 |
Current Assets - Trade and Ot_3
Current Assets - Trade and Other Receivables (Details) - Schedule of current assets - trade and other receivables | Dec. 31, 2022 AUD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 AUD ($) |
Schedule Of Current Assets Trade And Other Receivables [Abstract] | |||
Trade receivables | $ 203,737 | $ 138,409 | $ 338,859 |
Other receivables | 624,614 | 424,331 | 356,682 |
Total | $ 828,351 | $ 562,740 | $ 695,541 |
Current Assets - Inventories (D
Current Assets - Inventories (Details) - Schedule of inventories | Dec. 31, 2022 AUD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 AUD ($) |
Schedule of inventories [Abstract] | |||
Finished goods - at cost | $ 838,658 | $ 569,740 | $ 490,990 |
Non-Current Assets - Property_3
Non-Current Assets - Property, Plant and Equipment (Details) - Schedule of non-current assets - property, plant and equipment | Dec. 31, 2022 AUD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 AUD ($) | Dec. 31, 2020 AUD ($) |
Non-Current Assets - Property, Plant and Equipment (Details) - Schedule of non-current assets - property, plant and equipment [Line Items] | ||||
Non-current assets - property, plant and equipment, Net | $ 135,878 | $ 92,309 | $ 152,571 | $ 143,483 |
Computer equipment - at cost [Member] | ||||
Non-Current Assets - Property, Plant and Equipment (Details) - Schedule of non-current assets - property, plant and equipment [Line Items] | ||||
Non-current assets - property, plant and equipment, gross | 275,582 | 187,216 | 253,564 | |
Less: Accumulated depreciation | (242,159) | (164,510) | (220,715) | |
Non-current assets - property, plant and equipment, Net | 33,423 | 22,706 | 32,849 | 12,141 |
Office furniture & equipment - at cost [Member] | ||||
Non-Current Assets - Property, Plant and Equipment (Details) - Schedule of non-current assets - property, plant and equipment [Line Items] | ||||
Non-current assets - property, plant and equipment, gross | 131,728 | 89,489 | 129,538 | |
Less: Accumulated depreciation | (41,818) | (28,409) | (28,956) | |
Non-current assets - property, plant and equipment, Net | 89,910 | 61,080 | 100,582 | 106,573 |
Machinery & equipment - at cost [Member] | ||||
Non-Current Assets - Property, Plant and Equipment (Details) - Schedule of non-current assets - property, plant and equipment [Line Items] | ||||
Non-current assets - property, plant and equipment, gross | 85,309 | 57,955 | 82,889 | |
Less: Accumulated depreciation | (72,764) | (49,432) | (63,749) | |
Non-current assets - property, plant and equipment, Net | $ 12,545 | $ 8,523 | $ 19,140 | $ 24,769 |
Non-Current Assets - Property_4
Non-Current Assets - Property, Plant and Equipment (Details) - Schedule of reconciliations of the written down value | 12 Months Ended | ||
Dec. 31, 2022 AUD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 AUD ($) | |
Non-Current Assets - Property, Plant and Equipment (Details) - Schedule of reconciliations of the written down value [Line Items] | |||
Ending Balance | $ 152,571 | $ 143,483 | |
Additions | 26,628 | $ 18,090 | 30,534 |
Depreciation expense | (43,321) | (29,430) | (21,446) |
Beginning balance | 135,878 | 92,309 | 152,571 |
Computer equipment [Member] | |||
Non-Current Assets - Property, Plant and Equipment (Details) - Schedule of reconciliations of the written down value [Line Items] | |||
Ending Balance | 32,849 | 12,141 | |
Additions | 22,018 | 30,091 | |
Depreciation expense | (21,444) | (9,383) | |
Beginning balance | 33,423 | 22,706 | 32,849 |
Office furniture & equipment [Member] | |||
Non-Current Assets - Property, Plant and Equipment (Details) - Schedule of reconciliations of the written down value [Line Items] | |||
Ending Balance | 100,582 | 106,573 | |
Additions | 2,190 | 443 | |
Depreciation expense | (12,862) | (6,434) | |
Beginning balance | 89,910 | 61,080 | 100,582 |
Machinery & equipment [Member] | |||
Non-Current Assets - Property, Plant and Equipment (Details) - Schedule of reconciliations of the written down value [Line Items] | |||
Ending Balance | 19,140 | 24,769 | |
Additions | 2,420 | ||
Depreciation expense | (9,015) | (5,629) | |
Beginning balance | $ 12,545 | $ 8,523 | $ 19,140 |
Non-Current Assets - Property_5
Non-Current Assets - Property, Plant and Equipment (Details) - Schedule of depreciation is calculated on a straight-line basis to write off the net cost | 12 Months Ended |
Dec. 31, 2022 | |
Computer equipment [Member] | |
Non-Current Assets - Property, Plant and Equipment (Details) - Schedule of depreciation is calculated on a straight-line basis to write off the net cost [Line Items] | |
Property, plant and equipment, useful lives | 3 years |
Machinery and equipment [Member] | Bottom of range [Member] | |
Non-Current Assets - Property, Plant and Equipment (Details) - Schedule of depreciation is calculated on a straight-line basis to write off the net cost [Line Items] | |
Property, plant and equipment, useful lives | 6 years |
Machinery and equipment [Member] | Top of range [Member] | |
Non-Current Assets - Property, Plant and Equipment (Details) - Schedule of depreciation is calculated on a straight-line basis to write off the net cost [Line Items] | |
Property, plant and equipment, useful lives | 7 years |
Office furniture and equipment [Member] | Bottom of range [Member] | |
Non-Current Assets - Property, Plant and Equipment (Details) - Schedule of depreciation is calculated on a straight-line basis to write off the net cost [Line Items] | |
Property, plant and equipment, useful lives | 10 years |
Office furniture and equipment [Member] | Top of range [Member] | |
Non-Current Assets - Property, Plant and Equipment (Details) - Schedule of depreciation is calculated on a straight-line basis to write off the net cost [Line Items] | |
Property, plant and equipment, useful lives | 14 years |
Non-Current Assets - Right-of_3
Non-Current Assets - Right-of-Use Assets (Details) | 12 Months Ended | ||
Dec. 31, 2022 AUD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 AUD ($) | |
Non-Current Assets - Right-of-Use Assets (Details) [Line Items] | |||
Additions to the right-of-use assets | $ 148,815 | $ 101,097 | $ 42,457 |
ISRAEL | Car [Member] | |||
Non-Current Assets - Right-of-Use Assets (Details) [Line Items] | |||
Company lease agreement | 3 years | 3 years | |
ISRAEL | Land and buildings [member] | |||
Non-Current Assets - Right-of-Use Assets (Details) [Line Items] | |||
Company lease agreement | 5 years | 5 years |
Non-Current Assets - Right-of_4
Non-Current Assets - Right-of-Use Assets (Details) - Schedule of non-current assets of right-of-use assets | Dec. 31, 2022 AUD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 AUD ($) |
Non-Current Assets - Right-of-Use Assets (Details) - Schedule of non-current assets of right-of-use assets [Line Items] | |||
Right-of-use assets | $ 426,817 | $ 289,957 | $ 610,197 |
Land and buildings - right-of-use [Member] | |||
Non-Current Assets - Right-of-Use Assets (Details) - Schedule of non-current assets of right-of-use assets [Line Items] | |||
Right-of-use assets | 254,409 | 172,832 | 517,719 |
Motor vehicles - right-of-use [Member] | |||
Non-Current Assets - Right-of-Use Assets (Details) - Schedule of non-current assets of right-of-use assets [Line Items] | |||
Right-of-use assets | $ 172,408 | $ 117,125 | $ 92,478 |
Non-Current Assets - Right-of_5
Non-Current Assets - Right-of-Use Assets (Details) - Schedule of reconciliations of the written down values | 12 Months Ended | |||
Dec. 31, 2022 AUD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 AUD ($) | Dec. 31, 2021 USD ($) | |
Non-Current Assets - Right-of-Use Assets (Details) - Schedule of reconciliations of the written down values [Line Items] | ||||
Beginning balance | $ 610,197 | $ 770,448 | ||
Additions | 148,815 | $ 20,961 | 42,457 | |
Depreciation expense | (332,195) | (225,676) | (202,708) | |
Ending balance | 426,817 | $ 289,957 | 610,197 | |
Land and Buildings [Member] | ||||
Non-Current Assets - Right-of-Use Assets (Details) - Schedule of reconciliations of the written down values [Line Items] | ||||
Beginning balance | 517,719 | 697,234 | ||
Additions | ||||
Depreciation expense | (263,310) | (179,515) | ||
Ending balance | 254,409 | 517,719 | ||
Motor Vehicle [Member] | ||||
Non-Current Assets - Right-of-Use Assets (Details) - Schedule of reconciliations of the written down values [Line Items] | ||||
Beginning balance | 92,478 | 73,214 | ||
Additions | 148,815 | 42,457 | ||
Depreciation expense | (68,885) | (23,193) | ||
Ending balance | $ 172,408 | $ 92,478 |
Current Liabilities - Trade a_3
Current Liabilities - Trade and Other Payables (Details) - Schedule of Current Liabilities of Trade and Other Payables | Dec. 31, 2022 AUD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 AUD ($) |
Schedule Of Current Liabilities Of Trade And Other Payables Abstract | |||
Trade payables | $ 299,289 | $ 203,322 | $ 214,778 |
Other payables | 1,309,557 | 889,644 | 936,677 |
Trade and other payables | $ 1,608,846 | $ 1,092,966 | $ 1,151,455 |
Lease Liabilities (Details) - S
Lease Liabilities (Details) - Schedule of lease liabilities | Dec. 31, 2022 AUD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 AUD ($) |
Schedule of Current Liabilities Lease Liabilities [Abstract] | |||
Current | $ 333,850 | $ 226,800 | $ 305,414 |
Non-current | 95,403 | 64,812 | 336,246 |
Total liability | $ 429,253 | $ 291,612 | $ 641,660 |
Current Liabilities - Warrant_3
Current Liabilities - Warranty Liability (Details) | Aug. 25, 2022 USD ($) shares |
Current Liabilities - Warranty Liability (Details) [Line Items] | |
Total consideration (in Dollars) | $ | $ 13,299,996 |
ADSs [Member] | |
Current Liabilities - Warranty Liability (Details) [Line Items] | |
Issuance of shares | 3,220,338 |
Pre-funded warrants | 3,220,338 |
Current Liabilities - Warrant_4
Current Liabilities - Warranty Liability (Details) - Schedule of current liabilities - warranty liability | 12 Months Ended | ||
Dec. 31, 2022 AUD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 AUD ($) | |
Schedule Of Current Liabilities Warranty Liability Abstract | |||
Warrants at fair value | $ 1,097,520 | $ 745,598 |
Non-Current Liabilities - Emp_3
Non-Current Liabilities - Employee Benefits (Details) - Schedule of non-current liabilities employee benefits | 12 Months Ended | ||
Dec. 31, 2022 AUD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 AUD ($) | |
Schedule Of Non Current Liabilities Employee Benefits Abstract | |||
Employee benefits | $ 203,636 | $ 138,339 | $ 818,190 |
Non-Current Liabilities - Emp_4
Non-Current Liabilities - Employee Benefits (Details) - Schedule of the amounts recognized in the statement of financial position are determined | Dec. 31, 2022 AUD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 AUD ($) |
Schedule of the amounts recognized in the statement of financial position are determined [Abstract] | |||
Present value of the defined benefit obligation | $ 313,227 | $ 212,790 | $ 1,026,565 |
Fair value of defined benefit plan assets | (109,591) | (74,451) | (208,375) |
Net liability in the statement of financial position | $ 203,636 | $ 138,339 | $ 818,190 |
Non-Current Liabilities - Emp_5
Non-Current Liabilities - Employee Benefits (Details) - Schedule of the movement in plan assets | 12 Months Ended | ||
Dec. 31, 2022 AUD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 AUD ($) | |
Schedule Of The Movement In Plan Assets Abstract | |||
Balance at the beginning of the year | $ 208,375 | $ 141,559 | $ 166,437 |
Interest income | 3,002 | 2,039 | 2,472 |
Contributions | 21,432 | 14,560 | 20,591 |
Payments (withdrawal) | (120,412) | (81,801) | |
Return on plan assets (excluding interest) | 6,432 | 4,370 | 824 |
Foreign exchanges differences | (9,238) | (6,276) | 18,051 |
Balance at the end of the year | $ 109,591 | $ 74,451 | $ 208,375 |
Non-Current Liabilities - Emp_6
Non-Current Liabilities - Employee Benefits (Details) - Schedule of reconciliations | 12 Months Ended | ||
Dec. 31, 2022 AUD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 AUD ($) | |
Reconciliation of the present value of the defined benefit obligation | |||
Balance at the beginning of the year | $ 1,026,565 | $ 697,395 | $ 869,550 |
Interest cost | 11,153 | 7,577 | 14,831 |
Current service cost | 40,309 | 27,384 | 65,917 |
Redeemed accrued benefits | (384,273) | (261,055) | |
Actuarial loss/(gains) from financial assumptions | (340,909) | (231,596) | (14,419) |
Foreign exchanges differences | (39,618) | (26,915) | 90,686 |
Balance at the end of the year | $ 313,227 | $ 212,790 | $ 1,026,565 |
Non-Current Liabilities - Gov_3
Non-Current Liabilities - Governmental Liabilities on Grants Received (Details) | 12 Months Ended |
Dec. 31, 2022 | |
Non-Current Liabilities - Governmental Liabilities on Grants Received (Details) [Line Items] | |
Repayment percentage of government grants received | 100% |
Bottom of range [member] | |
Non-Current Liabilities - Governmental Liabilities on Grants Received (Details) [Line Items] | |
Sales of developed products rate | 3% |
Top of range [member] | |
Non-Current Liabilities - Governmental Liabilities on Grants Received (Details) [Line Items] | |
Sales of developed products rate | 3.50% |
Non-Current Liabilities - Gov_4
Non-Current Liabilities - Governmental Liabilities on Grants Received (Details) - Schedule of non-current liabilities - governmental liabilities on grants received | Dec. 31, 2022 AUD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 AUD ($) |
Schedule Of Non Current Liabilities Governmental Liabilities On Grants Received Abstract | |||
Governmental liabilities on grants received | $ 6,084 | $ 4,133 | $ 5,175 |
Equity - Issued Capital (Detail
Equity - Issued Capital (Details) | 12 Months Ended | ||||||||||
Aug. 24, 2022 AUD ($) $ / shares $ / shares shares | Jul. 15, 2021 $ / shares shares | Jul. 15, 2021 $ / shares shares | Dec. 31, 2022 AUD ($) shares | Dec. 31, 2022 USD ($) shares | Dec. 31, 2022 USD ($) | Aug. 31, 2022 AUD ($) shares | Aug. 31, 2022 USD ($) $ / shares shares | Aug. 24, 2022 USD ($) $ / shares shares | Apr. 13, 2022 shares | Dec. 31, 2020 shares | |
Equity - Issued Capital (Details) [Line Items] | |||||||||||
Shares amount | 64,000,000 | 64,000,000 | 7,503,678 | 12,650,000 | |||||||
Exercise price | (per share) | $ 5 | $ 0.09 | $ 0.07 | ||||||||
Options Exercise price | (per share) | $ 7.36 | $ 5 | |||||||||
Derivative financial liability | $ 5,598,835 | $ 1,044,955 | $ 707,957 | $ 3,865,996 | |||||||
Pre funded warrants | 450,000 | 450,000 | |||||||||
Exercised amount | $ 3,259,925 | $ 2,250,000 | |||||||||
Fair value amount | $ 825,609 | $ 569,832 | |||||||||
Company issued | 161,017 | 161,017 | |||||||||
Underwriter exercise price | $ / shares | $ 5.16 | ||||||||||
Financial liability | $ 281,436 | $ 194,332 | |||||||||
Low Valuation Inputs | 52,565 | 39,272 | |||||||||
Fair value gain | $ 3,768,466 | $ 2,560,099 | |||||||||
Nasdaq listing & IPO [Member] | |||||||||||
Equity - Issued Capital (Details) [Line Items] | |||||||||||
Shares amount | 3,220,338 | 3,220,338 | |||||||||
Nasdaq dual listing & IPO [Member] | |||||||||||
Equity - Issued Capital (Details) [Line Items] | |||||||||||
Shares amount | 3,220,338 | 3,220,338 |
Equity - Issued Capital (Deta_2
Equity - Issued Capital (Details) - Schedule of equity issued capital | Dec. 31, 2022 AUD ($) shares | Dec. 31, 2022 USD ($) shares | Dec. 31, 2021 AUD ($) shares | Dec. 31, 2020 AUD ($) shares |
Schedule Of Equity Issued Capital Abstract | ||||
Ordinary shares - fully paid | 1,331,279,665 | 1,331,279,665 | 321,936,715 | 257,936,715 |
Ordinary shares - fully paid | $ 41,636,762 | $ 28,285,844 | $ 26,504,136 | $ 22,884,795 |
Equity - Issued Capital (Deta_3
Equity - Issued Capital (Details) - Schedule of movements in ordinary share capital $ / shares in Units, $ in Millions | 12 Months Ended | |||||
Dec. 31, 2022 AUD ($) shares | Dec. 31, 2022 USD ($) $ / shares shares | Dec. 31, 2021 AUD ($) shares | Dec. 31, 2020 AUD ($) shares | Dec. 31, 2021 $ / shares | ||
Equity - Issued Capital (Details) - Schedule of movements in ordinary share capital [Line Items] | ||||||
Beginning Balance Shares (in Shares) | 321,936,715 | 321,936,715 | 257,936,715 | |||
Ending Balance Shares (in Shares) | 1,331,279,665 | 1,331,279,665 | 321,936,715 | 257,936,715 | ||
Issue of IPO shares (net of warrant fair value) Date | [1] | Aug. 29, 2022 | Aug. 29, 2022 | |||
Issue of IPO shares (net of warrant fair value) share (in Shares) | [1] | 885,592,950 | 885,592,950 | |||
Issue of IPO shares (net of warrant fair value) Issue price (in Dollars per share) | $ / shares | [1] | $ 0.015 | ||||
Issue of IPO shares (net of warrant fair value) cost | [1] | $ 13,662,563 | $ 9,281,632 | |||
Exercise of pre-funded warrants Date | Aug. 31, 2022 | Aug. 31, 2022 | ||||
Exercise of pre-funded warrants share (in Shares) | 123,750,000 | 123,750,000 | ||||
Exercise of pre-funded warrants Issue price (in Dollars per share) | $ / shares | $ 0.026 | |||||
Exercise of pre-funded warrants costs | $ 4,085,533 | $ 2,775,498 | ||||
Placement Date | [2] | May 17, 2021 | ||||
Placement Shares (in Shares) | [2] | 64,000,000 | ||||
Placement Issue price (in Dollars per share) | $ / shares | [2] | $ 0.06 | ||||
Placement cost | $ | [2] | $ 3,840,000 | ||||
Capital raising costs | $ (2,615,470) | $ (1,776,814) | $ (220,659) | |||
Bottom of range [member] | ||||||
Equity - Issued Capital (Details) - Schedule of movements in ordinary share capital [Line Items] | ||||||
Beginning Balance Date | Jan. 01, 2020 | |||||
Beginning Balance Shares (in Shares) | 257,936,715 | 257,936,715 | ||||
Beginning Balance cost | $ | $ 22,884,795 | $ 22,884,795 | ||||
Ending Balance Date | Dec. 31, 2020 | |||||
Ending Balance Shares (in Shares) | 257,936,715 | |||||
Ending Balance cost | $ | $ 22,884,795 | |||||
Top of range [member] | ||||||
Equity - Issued Capital (Details) - Schedule of movements in ordinary share capital [Line Items] | ||||||
Beginning Balance Shares (in Shares) | 321,936,715 | 321,936,715 | ||||
Beginning Balance cost | $ | $ 26,504,136 | |||||
Ending Balance Date | Dec. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | |||
Ending Balance Shares (in Shares) | 1,331,279,665 | 1,331,279,665 | 321,936,715 | |||
Ending Balance cost | $ 41,636,762 | $ 28,285,844 | $ 26,504,136 | |||
[1]On 24 August 2022, the Company issued 3,220,338 units to shareholders in the Company’s August 2022 Nasdaq listing & IPO. Each unit consists of a single ADS and single pre-funded warrant exercisable to a single ADS. The warrants have an exercise price of AUD$7.36 ($5.00), expire August 24, 2027.[2]On 15 July 2021, the Company issued 64,000,000 options to investors in the Company’s May 2021 capital raising. The options have an exercise price of AUD$0.09 ($0.07), expire July 15, 2023. |
Equity - Issued Capital (Deta_4
Equity - Issued Capital (Details) - Schedule of movements in ordinary share capital (Parentheticals) | 12 Months Ended |
Dec. 31, 2022 shares | |
Schedule Of Movements In Ordinary Share Capital Abstract | |
Exercise of pre-funded warrants | 450,000 |
Equity - Issued Capital (Deta_5
Equity - Issued Capital (Details) - Schedule of changes in share purchase warrants issued | 12 Months Ended |
Dec. 31, 2022 $ / shares shares | |
Schedule Of Changes In Share Purchase Warrants Issued Abstract | |
Balance Beginning, Number of Warrants | shares | |
Balance Beginning, Weighted Average Exercise Price ($) | $ / shares | |
Issuance of warrants, Number of Warrants | shares | 3,381,355 |
Issuance of warrants, Weighted Average Exercise Price ($) | $ / shares | $ 5.01 |
August 31, 2022 warrants exercise, Number of Warrants | shares | (450,000) |
August 31, 2022 warrants exercise, Weighted Average Exercise Price ($) | $ / shares | $ 5 |
Balance Ending, Number of Warrants | shares | 2,931,355 |
Balance Ending, Weighted Average Exercise Price ($) | $ / shares | $ 5.01 |
Equity - Issued Capital (Deta_6
Equity - Issued Capital (Details) - Schedule of fair value measurements | 12 Months Ended |
Dec. 31, 2022 USD ($) | |
Equity - Issued Capital (Details) - Schedule of fair value measurements [Line Items] | |
Beginning balance | |
Warrants issued during the period | 5,598,835 |
Fair value loss (gain) recognized in consolidated statement of profit or loss and other comprehensive income | (3,768,466) |
Transfer upon exercise | (825,609) |
Translation adjustments | 92,760 |
Ending balance | 1,097,520 |
Level 1 [Member] | |
Equity - Issued Capital (Details) - Schedule of fair value measurements [Line Items] | |
Beginning balance | |
Warrants issued during the period | |
Fair value loss (gain) recognized in consolidated statement of profit or loss and other comprehensive income | |
Transfer upon exercise | |
Ending balance | |
Level 2 [Member] | |
Equity - Issued Capital (Details) - Schedule of fair value measurements [Line Items] | |
Beginning balance | |
Warrants issued during the period | 5,598,835 |
Fair value loss (gain) recognized in consolidated statement of profit or loss and other comprehensive income | (3,768,466) |
Transfer upon exercise | (825,609) |
Translation adjustments | 92,760 |
Ending balance | 1,097,520 |
Level 3 [Member] | |
Equity - Issued Capital (Details) - Schedule of fair value measurements [Line Items] | |
Beginning balance | |
Warrants issued during the period | |
Fair value loss (gain) recognized in consolidated statement of profit or loss and other comprehensive income | |
Transfer upon exercise | |
Ending balance |
Equity - Reserves (Details) - S
Equity - Reserves (Details) - Schedule of equity - reserves $ in Millions | Dec. 31, 2022 AUD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 AUD ($) | Dec. 31, 2020 AUD ($) |
Equity - Reserves (Details) - Schedule of equity - reserves [Line Items] | ||||
Total equity reserves | $ (840,137) | $ (570,745) | $ (271,512) | $ (276,592) |
Foreign currency reserve [Member] | ||||
Equity - Reserves (Details) - Schedule of equity - reserves [Line Items] | ||||
Total equity reserves | (697,705) | (473,984) | 237,437 | 198,160 |
Re-measurements of defined benefit plans reserve [Member] | ||||
Equity - Reserves (Details) - Schedule of equity - reserves [Line Items] | ||||
Total equity reserves | $ (142,432) | $ (96,761) | $ (508,949) | $ (474,752) |
Equity - Reserves (Details) -_2
Equity - Reserves (Details) - Schedule of reserve during the current and previous financial year | 12 Months Ended | |||
Dec. 31, 2022 AUD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 AUD ($) | Dec. 31, 2020 AUD ($) | |
Equity - Reserves (Details) - Schedule of reserve during the current and previous financial year [Line Items] | ||||
Beginning balance | $ (271,512) | $ (276,592) | $ (458,878) | |
Re-measurement of defined benefit plans | 366,517 | $ 248,993 | (34,197) | 6,450 |
Re-allocation between accumulated losses and foreign currency reserve | (935,142) | (635,287) | 39,277 | 175,836 |
Ending balance | (840,137) | $ (570,745) | (271,512) | (276,592) |
Re-Measurement of Defined Benefit Plans Reserve [Member] | ||||
Equity - Reserves (Details) - Schedule of reserve during the current and previous financial year [Line Items] | ||||
Beginning balance | (508,949) | (474,752) | (481,202) | |
Re-measurement of defined benefit plans | 366,517 | (34,197) | 6,450 | |
Re-allocation between accumulated losses and foreign currency reserve | ||||
Ending balance | (142,432) | (508,949) | (474,752) | |
Foreign currency reserve [Member] | ||||
Equity - Reserves (Details) - Schedule of reserve during the current and previous financial year [Line Items] | ||||
Beginning balance | 237,437 | 198,160 | 22,324 | |
Re-measurement of defined benefit plans | ||||
Re-allocation between accumulated losses and foreign currency reserve | (935,142) | 39,277 | 175,836 | |
Ending balance | $ (697,705) | $ 237,437 | $ 198,160 |
Equity _ Share-Based Compensa_3
Equity – Share-Based Compensation and Share-Based Payment Reserve (Details) | 12 Months Ended | |||||||||||||
Apr. 13, 2022 AUD ($) $ / shares shares | Jul. 15, 2021 AUD ($) $ / shares shares | Dec. 31, 2022 AUD ($) $ / shares shares | Dec. 31, 2022 USD ($) shares | Dec. 31, 2021 AUD ($) $ / shares shares | Dec. 31, 2021 USD ($) shares | Dec. 31, 2020 AUD ($) $ / shares shares | Dec. 29, 2020 AUD ($) $ / shares shares | Dec. 31, 2022 USD ($) $ / shares | Apr. 13, 2022 USD ($) shares | Dec. 31, 2021 $ / shares | ||||
Equity – Share-Based Compensation and Share-Based Payment Reserve (Details) [Line Items] | ||||||||||||||
Percentage of common stock issued and outstanding | 5% | 5% | ||||||||||||
Shares issued (in Shares) | shares | 7,503,678 | 64,000,000 | 12,650,000 | 7,503,678 | ||||||||||
Weighted average assumptions exercise price (in Dollars per share) | $ 5.01 | |||||||||||||
Weighted average contractual life | 5 years | |||||||||||||
Number of share option (in Shares) | shares | 3,350,000 | 3,350,000 | 3,400,000 | |||||||||||
Amount of fair value (in Dollars) | $ | $ 424,413 | |||||||||||||
Option forfieted (in Shares) | shares | 5,770,000 | 5,770,000 | 5,464,475 | |||||||||||
Fair value of options forfieted | $ 236,959 | $ 160,977 | $ 870,246 | |||||||||||
Weighted average share price (in Dollars per share) | $ 0.05 | [1] | $ 0.08 | [2] | $ 0.08 | [3] | ||||||||
Share-based payment reserve options (in Shares) | shares | 921,116 | 921,116 | ||||||||||||
Share-based payment reserve | $ 311,840 | $ 44,359 | $ 211,848 | |||||||||||
Options are fully descriptions | 1,380,000 options are fully vested at date of grant, 573,678 options are vested after 18 months, 2,000,000 options are vested after 3 years, and 3,550,000 options are vested after 4 years. | |||||||||||||
Share-based compensation expense | $ 309,256 | $ 210,092 | $ 223,171 | $ 173,134 | ||||||||||
Weighted average remaining contractual life | 3 years 3 months | 3 years 3 months | 3 years 6 months 21 days | 3 years 6 months 21 days | ||||||||||
Reserve of share-based payments [member] | ||||||||||||||
Equity – Share-Based Compensation and Share-Based Payment Reserve (Details) [Line Items] | ||||||||||||||
Option forfieted (in Shares) | shares | 4,295,425 | 4,295,425 | ||||||||||||
Fair value of options forfieted | $ | $ 206,504 | |||||||||||||
Black-Scholes option pricing model one [Member] | ||||||||||||||
Equity – Share-Based Compensation and Share-Based Payment Reserve (Details) [Line Items] | ||||||||||||||
Weighted average share price (in Dollars per share) | $ 0.044 | |||||||||||||
Weighted average assumptions exercise price (in Dollars per share) | $ 0.08 | |||||||||||||
Weighted average contractual life | 5 years | |||||||||||||
Weighted average Volatility | 80.40% | |||||||||||||
Weighted average dividend yield | 0% | |||||||||||||
Weighted average risk free rate | 0.025% | |||||||||||||
Fair value option (in Shares) | shares | 400,000 | |||||||||||||
Share-based payment reserve | $ 9,520 | $ 6,467 | ||||||||||||
Black-Scholes option pricing model two [Member] | ||||||||||||||
Equity – Share-Based Compensation and Share-Based Payment Reserve (Details) [Line Items] | ||||||||||||||
Weighted average share price (in Dollars per share) | $ 0.044 | |||||||||||||
Weighted average assumptions exercise price (in Dollars per share) | $ 0.07 | |||||||||||||
Weighted average contractual life | 5 years | |||||||||||||
Weighted average Volatility | 80.40% | |||||||||||||
Weighted average dividend yield | 0% | |||||||||||||
Weighted average risk free rate | 0.025% | |||||||||||||
Fair value option (in Shares) | shares | 573,678 | |||||||||||||
Share-based payment reserve | $ 14,313 | 9,724 | ||||||||||||
Black-Scholes option pricing model three [Member] | ||||||||||||||
Equity – Share-Based Compensation and Share-Based Payment Reserve (Details) [Line Items] | ||||||||||||||
Weighted average share price (in Dollars per share) | $ 0.044 | |||||||||||||
Weighted average assumptions exercise price (in Dollars per share) | $ 0.05 | |||||||||||||
Weighted average Volatility | 80.40% | |||||||||||||
Weighted average dividend yield | 0% | |||||||||||||
Weighted average risk free rate | 0.025% | |||||||||||||
Fair value option (in Shares) | shares | 6,530,000 | |||||||||||||
Share-based payment reserve | $ 181,273 | $ 123,147 | ||||||||||||
Vested over three years [Member] | ||||||||||||||
Equity – Share-Based Compensation and Share-Based Payment Reserve (Details) [Line Items] | ||||||||||||||
Percentage of common stock issued and outstanding | 33% | |||||||||||||
Shares issued (in Shares) | shares | 6,450,000 | |||||||||||||
Total fair value of options (in Dollars) | $ | $ 290,103 | |||||||||||||
Weighted average share price (in Dollars per share) | $ 0.08 | |||||||||||||
Weighted average assumptions exercise price (in Dollars per share) | $ 0.08 | |||||||||||||
Weighted average contractual life | 3 years 6 months | |||||||||||||
Weighted average Volatility | 77.81% | |||||||||||||
Weighted average dividend yield | 0% | |||||||||||||
Weighted average risk free rate | 0.10% | |||||||||||||
Vested over four years [Member] | ||||||||||||||
Equity – Share-Based Compensation and Share-Based Payment Reserve (Details) [Line Items] | ||||||||||||||
Percentage of common stock issued and outstanding | 25% | |||||||||||||
Shares issued (in Shares) | shares | 6,200,000 | |||||||||||||
Total fair value of options (in Dollars) | $ | $ 287,623 | |||||||||||||
Weighted average share price (in Dollars per share) | $ 0.08 | |||||||||||||
Weighted average assumptions exercise price (in Dollars per share) | $ 0.08 | |||||||||||||
Weighted average contractual life | 3 years 9 months | |||||||||||||
Weighted average Volatility | 77.81% | |||||||||||||
Weighted average dividend yield | 0% | |||||||||||||
Weighted average risk free rate | 0.22% | |||||||||||||
Directors [Member] | ||||||||||||||
Equity – Share-Based Compensation and Share-Based Payment Reserve (Details) [Line Items] | ||||||||||||||
Shares issued (in Shares) | shares | 11,500,000 | |||||||||||||
Total fair value of options (in Dollars) | $ | $ 337,870 | |||||||||||||
Weighted average assumptions exercise price (in Dollars per share) | $ 0.08 | |||||||||||||
Weighted average contractual life | 5 years | |||||||||||||
Weighted average Volatility | 73.13% | |||||||||||||
Weighted average dividend yield | 0% | |||||||||||||
Weighted average risk free rate | 0.04% | |||||||||||||
Percentage of options vested | 33% | |||||||||||||
Weighted average share price (in Dollars per share) | $ 0.057 | |||||||||||||
[1]During the year ended December 31, 2021, 5,770,000 options were forfeited with a total fair value of AUD$236,959 ($160,977) and the Company recorded a charge to the share-based payment reserve with a corresponding credit to accumulated deficit.[2]During the year ended December 31, 2021, 921,116 options with a fair value of AUD$44,359 expired and the Company recorded a charge to the share-based payment reserve with a corresponding credit to accumulated deficit.[3]During the year ended December 31,2020, the Company issued a total of 12,650,000 options, as follows: a. On December 29, 2020, the Company issued 6,450,000 options to employees, which vest over three years (33% each year) The total fair value of the options was AUD$290,103. The fair value was estimated using the Black-Scholes option pricing model with the following weighted average assumptions: share price - AUD$0.08; exercise price - AUD$0.08; expected life - 3.5 year; annualized volatility 77.81%; dividend yield - 0%; risk free rate - 0.1%. b. On December 29, 2020, the Company issued 6,200,000 options to employees, which vest over four years (25% each year) The total fair value of the options was AUD$287,623. The fair value was estimated using the Black-Scholes option pricing model with the following weighted average assumptions: share price - AUD$0.08; exercise price - AUD$0.08; expected life – 3.75 years; annualized volatility 77.81%; dividend yield - 0%; risk free rate - 0.22%. |
Equity _ Share-Based Compensa_4
Equity – Share-Based Compensation and Share-Based Payment Reserve (Details) - Schedule of changes in stock options | 12 Months Ended | |||||||
Dec. 31, 2022 $ / shares $ / shares shares | Dec. 31, 2022 $ / shares shares | Dec. 31, 2021 $ / shares shares | Dec. 31, 2020 $ / shares shares | |||||
Schedule Of Changes In Stock Options Abstract | ||||||||
Number of options outstanding, Beginning balance (in Shares) | shares | 31,231,701 | 31,231,701 | 24,948,242 | 21,162,717 | ||||
Weighted average exercise price (AUD$), Beginning balance | $ 0.1 | $ 0.11 | $ 0.15 | |||||
Number of options outstanding, Granted | 7,503,678 | [1] | 7,503,678 | [1] | 11,500,000 | [2] | 12,650,000 | [3] |
Weighted average exercise price (AUD$), Granted | $ 0.05 | [1] | $ 0.08 | [2] | $ 0.08 | [3] | ||
Weighted average exercise price, Granted (in Dollars per share) | $ 0.03 | [1] | ||||||
Number of options outstanding, Expired | (3,350,000) | [4] | (3,350,000) | [4] | (921,116) | [5] | (3,400,000) | [6] |
Weighted average exercise price (AUD$), Expired | (per share) | $ 0.18 | [4] | $ 0.12 | [4] | $ 0.05 | [5] | $ 0.2 | [6] |
Weighted average exercise price, Expired (in Dollars per share) | (per share) | $ 0.18 | [4] | $ 0.12 | [4] | $ 0.05 | [5] | $ 0.2 | [6] |
Number of options outstanding, Cancelled | (4,295,425) | (4,295,425) | ||||||
Weighted average exercise price (AUD$), Cancelled | $ 0.09 | |||||||
Number of options outstanding, Forfeited | (5,770,000) | [7] | (5,770,000) | [7] | (5,464,475) | [8] | ||
Weighted average exercise price (AUD$), Forfeited | (per share) | $ 0.08 | [7] | $ 0.05 | [7] | $ 0.11 | [8] | ||
Weighted average exercise price, Forfeited (in Dollars per share) | (per share) | $ 0.08 | [7] | $ 0.05 | [7] | $ 0.11 | [8] | ||
Number of options outstanding, Ending balance (in Shares) | shares | 29,615,379 | 29,615,379 | 31,231,701 | 24,948,242 | ||||
Weighted average exercise price (AUD$), Ending balance | $ 0.09 | $ 0.1 | $ 0.11 | |||||
Balance at ending, excerceise price, Ending balance (in Dollars per share) | $ 0.06 | $ 0.06 | ||||||
[1]During the year ended December 31, 2021, 5,770,000 options were forfeited with a total fair value of AUD$236,959 ($160,977) and the Company recorded a charge to the share-based payment reserve with a corresponding credit to accumulated deficit.[2]During the year ended December 31, 2021, 921,116 options with a fair value of AUD$44,359 expired and the Company recorded a charge to the share-based payment reserve with a corresponding credit to accumulated deficit.[3]During the year ended December 31,2020, the Company issued a total of 12,650,000 options, as follows: a. On December 29, 2020, the Company issued 6,450,000 options to employees, which vest over three years (33% each year) The total fair value of the options was AUD$290,103. The fair value was estimated using the Black-Scholes option pricing model with the following weighted average assumptions: share price - AUD$0.08; exercise price - AUD$0.08; expected life - 3.5 year; annualized volatility 77.81%; dividend yield - 0%; risk free rate - 0.1%. b. On December 29, 2020, the Company issued 6,200,000 options to employees, which vest over four years (25% each year) The total fair value of the options was AUD$287,623. The fair value was estimated using the Black-Scholes option pricing model with the following weighted average assumptions: share price - AUD$0.08; exercise price - AUD$0.08; expected life – 3.75 years; annualized volatility 77.81%; dividend yield - 0%; risk free rate - 0.22%.[4]The Company recognized share-based compensation expense of AUD$ 309,256 ($210,092) for the year ended December 31, 2022 (2021: AUD$223,171, 2020: AUD$173,134) in relation to the vesting of options issued in previous years.[5]During the year ended December 31, 2021, 4,295,425 options were forfeited with a total fair value of AUD$206,504 and the Company recorded a charge to the share-based payment reserve with a corresponding credit to accumulated deficit.[6]During the year ended December 31, 2020, 3,400,000 options with a fair value of AUD$424,413 expired and the Company recorded a charge to the share-based payment reserve with a corresponding credit to accumulated deficit.[7]As at December 31, 2022, stock options were outstanding for the purchase of common shares as follows:[8]During the year ended December 31, 2020, 5,464,475 options were forfeited with a total fair value of AUD$870,246 and the Company recorded a charge to the share-based payment reserve with a corresponding credit to accumulated deficit. |
Equity _ Share-Based Compensa_5
Equity – Share-Based Compensation and Share-Based Payment Reserve (Details) - Schedule of stock options were outstanding for the purchase of common shares - $ / shares | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Equity – Share-Based Compensation and Share-Based Payment Reserve (Details) - Schedule of stock options were outstanding for the purchase of common shares [Line Items] | ||||
Number of Options | 29,615,379 | 31,231,701 | 24,948,242 | 21,162,717 |
Exercisable | 15,542,534 | |||
October 20, 2026 [Member] | ||||
Equity – Share-Based Compensation and Share-Based Payment Reserve (Details) - Schedule of stock options were outstanding for the purchase of common shares [Line Items] | ||||
Number of Options | 614,090 | |||
Exercise Price (in Dollars per share) | $ 0.2 | |||
Exercisable | 614,090 | |||
Expiry Date | Oct. 20, 2026 | |||
November 5, 2025 [Member] | ||||
Equity – Share-Based Compensation and Share-Based Payment Reserve (Details) - Schedule of stock options were outstanding for the purchase of common shares [Line Items] | ||||
Number of Options | 767,611 | |||
Exercise Price (in Dollars per share) | $ 0.12 | |||
Exercisable | 767,611 | |||
Expiry Date | Nov. 05, 2025 | |||
April 16, 2023 [Member] | ||||
Equity – Share-Based Compensation and Share-Based Payment Reserve (Details) - Schedule of stock options were outstanding for the purchase of common shares [Line Items] | ||||
Number of Options | 1,800,000 | |||
Exercise Price (in Dollars per share) | $ 0.12 | |||
Exercisable | 1,800,000 | |||
Expiry Date | Apr. 16, 2023 | |||
May 29, 2024 [Member] | ||||
Equity – Share-Based Compensation and Share-Based Payment Reserve (Details) - Schedule of stock options were outstanding for the purchase of common shares [Line Items] | ||||
Number of Options | 400,000 | |||
Exercise Price (in Dollars per share) | $ 0.15 | |||
Exercisable | 400,000 | |||
Expiry Date | May 29, 2024 | |||
June 25, 2025 [Member] | ||||
Equity – Share-Based Compensation and Share-Based Payment Reserve (Details) - Schedule of stock options were outstanding for the purchase of common shares [Line Items] | ||||
Number of Options | 3,000,000 | |||
Exercise Price (in Dollars per share) | $ 0.15 | |||
Exercisable | 3,000,000 | |||
Expiry Date | Jun. 25, 2025 | |||
December 29, 2025 [Member] | ||||
Equity – Share-Based Compensation and Share-Based Payment Reserve (Details) - Schedule of stock options were outstanding for the purchase of common shares [Line Items] | ||||
Number of Options | 5,120,000 | |||
Exercise Price (in Dollars per share) | $ 0.15 | |||
Exercisable | 3,425,000 | |||
Expiry Date | Dec. 29, 2025 | |||
July 8, 2026 [Member] | ||||
Equity – Share-Based Compensation and Share-Based Payment Reserve (Details) - Schedule of stock options were outstanding for the purchase of common shares [Line Items] | ||||
Number of Options | 11,500,000 | |||
Exercise Price (in Dollars per share) | $ 0.08 | |||
Exercisable | 3,833,333 | |||
Expiry Date | Jul. 08, 2026 | |||
April 13, 2027 [Member] | ||||
Equity – Share-Based Compensation and Share-Based Payment Reserve (Details) - Schedule of stock options were outstanding for the purchase of common shares [Line Items] | ||||
Number of Options | 400,000 | |||
Exercise Price (in Dollars per share) | $ 0.08 | |||
Exercisable | 400,000 | |||
Expiry Date | Apr. 13, 2027 | |||
April 13, 2027 One [Member] | ||||
Equity – Share-Based Compensation and Share-Based Payment Reserve (Details) - Schedule of stock options were outstanding for the purchase of common shares [Line Items] | ||||
Number of Options | 573,678 | |||
Exercise Price (in Dollars per share) | $ 0.07 | |||
Exercisable | ||||
Expiry Date | Apr. 13, 2027 | |||
April 13, 2027 Two [Member] | ||||
Equity – Share-Based Compensation and Share-Based Payment Reserve (Details) - Schedule of stock options were outstanding for the purchase of common shares [Line Items] | ||||
Number of Options | 5,440,000 | |||
Exercise Price (in Dollars per share) | $ 0.05 | |||
Exercisable | 1,302,500 | |||
Expiry Date | Apr. 13, 2027 |
Financial Instruments (Details)
Financial Instruments (Details) - Schedule of company's foreign currency denominated financial assets and financial liabilities | Dec. 31, 2022 AUD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 AUD ($) |
Financial Instruments (Details) - Schedule of company's foreign currency denominated financial assets and financial liabilities [Line Items] | |||
Assets | $ 19,912,801 | $ 13,527,717 | $ 2,086,774 |
Liabilities | 32,104 | 21,810 | 39,979 |
US Dollars [Member] | |||
Financial Instruments (Details) - Schedule of company's foreign currency denominated financial assets and financial liabilities [Line Items] | |||
Assets | 18,061,483 | 12,270,029 | 548,764 |
Liabilities | 31,233 | 21,218 | 39,979 |
Euros [Member] | |||
Financial Instruments (Details) - Schedule of company's foreign currency denominated financial assets and financial liabilities [Line Items] | |||
Assets | 1,826 | 1,240 | 2,272 |
Liabilities | 871 | 592 | |
Israeli New Shekel [Member] | |||
Financial Instruments (Details) - Schedule of company's foreign currency denominated financial assets and financial liabilities [Line Items] | |||
Assets | 1,849,492 | 1,256,448 | 1,535,738 |
Liabilities |
Financial Instruments (Detail_2
Financial Instruments (Details) - Schedule of remaining contractual maturities | Dec. 31, 2022 AUD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 AUD ($) |
Weighted average interest rate [Member] | |||
Non-derivatives | |||
Trade payables, percentage | |||
Other payables, percentage | |||
Government liabilities, percentage | |||
1 year or less [Member] | |||
Non-derivatives | |||
Trade payables | $ 299,289 | $ 214,778 | |
Other payables | 1,309,557 | 936,677 | |
Government liabilities | |||
Total non-derivatives | 1,608,846 | 1,151,455 | |
Between 1 and 2 years [Member] | |||
Non-derivatives | |||
Trade payables | |||
Other payables | |||
Government liabilities | |||
Total non-derivatives | |||
Between 2 and 5 years [Member] | |||
Non-derivatives | |||
Trade payables | |||
Other payables | |||
Government liabilities | |||
Total non-derivatives | |||
Over 5 years [Member] | |||
Non-derivatives | |||
Trade payables | |||
Other payables | |||
Government liabilities | 6,084 | 5,175 | |
Total non-derivatives | 6,084 | 5,175 | |
Remaining contractual maturities [Member] | |||
Non-derivatives | |||
Trade payables | 299,289 | $ 203,321 | 214,778 |
Other payables | 1,309,557 | 889,644 | 936,677 |
Government liabilities | 6,084 | 4,133 | 5,175 |
Total non-derivatives | $ 1,614,930 | $ 1,097,099 | $ 1,156,630 |
Key Management Personnel Disc_3
Key Management Personnel Disclosures (Details) - Schedule of aggregate compensation made to directors and other members of key management personnel | 12 Months Ended | ||
Dec. 31, 2022 AUD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 AUD ($) | |
Schedule Of Aggregate Compensation Made To Directors And Other Members Of Key Management Personnel Abstract | |||
Short-term employee benefits | $ 821,414 | $ 558,026 | $ 647,248 |
Post-employment benefits | 294,171 | 199,844 | 157,798 |
Israel deferred payments | 653,768 | 444,136 | |
Share-based payments | 93,036 | 63,204 | 46,518 |
Total | $ 1,862,389 | $ 1,265,210 | $ 851,564 |
Government Grants (Details)
Government Grants (Details) | 12 Months Ended |
Dec. 31, 2022 | |
Government Grants (Details) [Line Items] | |
Repayment percentage | 100% |
Bottom of range [Member] | |
Government Grants (Details) [Line Items] | |
Sales of developed products rate | 3% |
Top of range [Member] | |
Government Grants (Details) [Line Items] | |
Sales of developed products rate | 3.50% |
Related Party Transactions (Det
Related Party Transactions (Details) - Schedule of outstanding at the reporting date in relation to transactions with related parties | Dec. 31, 2022 AUD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 AUD ($) |
Current payables: | |||
Payables to related parties | $ 25,667 | $ 17,437 | $ 3,667 |
Interests in Subsidiaries (Deta
Interests in Subsidiaries (Details) - Schedule of consolidated financial statements incorporate the assets, liabilities | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | ||
Mobilicom Ltd (“Mobilicom Israel”) [Member] | |||
Interests in Subsidiaries (Details) - Schedule of consolidated financial statements incorporate the assets, liabilities [Line Items] | |||
Principal place of business / Country of incorporation | Israel | ||
Ownership interest | 100% | 100% | |
Mobilicom Inc [Member] | |||
Interests in Subsidiaries (Details) - Schedule of consolidated financial statements incorporate the assets, liabilities [Line Items] | |||
Principal place of business / Country of incorporation | [1] | United States | |
Ownership interest | [1] | 100% | |
[1] Incorporated on December 28, 2022, in Delaware. |
Reconciliation of Loss after _3
Reconciliation of Loss after Income Tax to Net Cash Used in Operating Activities (Details) - Schedule of reconciliation of loss after income tax to net cash | 12 Months Ended | |||
Dec. 31, 2022 AUD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 AUD ($) | Dec. 31, 2020 AUD ($) | |
Schedule Of Reconciliation Of Loss After Income Tax To Net Cash Abstract | ||||
Loss after income tax expense for the year | $ (341,469) | $ (231,978) | $ (2,704,845) | $ (2,781,899) |
Adjustments for: | ||||
Depreciation and amortisation | 375,516 | 255,106 | 224,154 | 301,587 |
Share-based payments | 309,256 | 210,092 | 223,171 | 173,134 |
Net gain on fair value movement of warrants | (3,768,466) | (2,560,099) | ||
Foreign exchange differences | (428,414) | (291,037) | 172,573 | 163,621 |
Lease interest | 22,004 | 14,948 | 31,382 | 12,238 |
Change in operating assets and liabilities: | ||||
Decrease (increase) in trade and other receivables | 88,317 | 59,998 | (239,623) | 797,104 |
Decrease (increase) in inventories | (347,668) | (236,188) | 312,014 | (277,957) |
Increase in prepayments | (221,127) | (150,222) | (70,763) | 5,943 |
Increase in trade and other payables | 457,392 | 310,728 | 132,260 | (412,547) |
Increase (decrease) in employee benefits | (614,554) | (417,496) | 115,077 | 41,783 |
Increase (decrease) in Government liabilities | 909 | 616 | (1,579) | (143,178) |
Net cash used in operating activities | $ (4,468,304) | $ (3,035,532) | $ (1,806,179) | $ (2,120,171) |
Earnings per Share (Details) -
Earnings per Share (Details) - Schedule of loss after income tax | 12 Months Ended | |||
Dec. 31, 2022 AUD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 AUD ($) | Dec. 31, 2020 AUD ($) | |
Schedule Of Loss After Income Tax Abstract | ||||
Loss after income tax attributable to the owners of Mobilicom Limited | $ (341,469) | $ (231,976) | $ (2,704,845) | $ (2,781,899) |
Earnings per Share (Details) _2
Earnings per Share (Details) - Schedule of weighted average number of ordinary shares - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Earnings per Share (Details) - Schedule of weighted average number of ordinary shares [Line Items] | |||
Weighted average number of ordinary shares used in calculating basic earnings per share | 664,158,704 | ||
Weighted average number of ordinary shares used in calculating diluted earnings per share | $ 664,158,704 | ||
Number of Australia Shares [Member] | |||
Earnings per Share (Details) - Schedule of weighted average number of ordinary shares [Line Items] | |||
Weighted average number of ordinary shares used in calculating basic earnings per share | 664,158,704 | 297,914,797 | 257,936,715 |
Weighted average number of ordinary shares used in calculating diluted earnings per share | $ 664,158,704 | $ 297,914,797 | $ 257,936,715 |
Earnings per Share (Details) _3
Earnings per Share (Details) - Schedule of earnings per share | 12 Months Ended | |||
Dec. 31, 2022 $ / shares | Dec. 31, 2022 $ / shares | Dec. 31, 2021 $ / shares | Dec. 31, 2020 $ / shares | |
Earnings per Share (Details) - Schedule of earnings per share [Line Items] | ||||
Basic earnings per share | $ (0.03) | |||
Diluted earnings per share | $ (0.03) | |||
Earnings Per Share [Member] | ||||
Earnings per Share (Details) - Schedule of earnings per share [Line Items] | ||||
Basic earnings per share | $ (0.05) | $ (0.91) | $ (1.08) | |
Diluted earnings per share | $ (0.05) | $ (0.91) | $ (1.08) |
Share-Based Payments (Details)
Share-Based Payments (Details) | 12 Months Ended |
Dec. 31, 2022 shares | |
Share-Based Payments [Abstract] | |
Unlisted options | 7,503,678 |
Options are fully vested, description | 1,380,000 options are fully vested at date of grant, 573,678 options will be vested after 18 months, 2,000,000 options will be vested after 3 years, and 3,550,000 options are vested after 4 years. |
Share-Based Payments (Details)
Share-Based Payments (Details) - Schedule of summary of options granted and on issue | 12 Months Ended | ||
Mar. 31, 2022 $ / shares shares | Aug. 24, 2022 $ / shares | Aug. 24, 2022 $ / shares | |
Share-Based Payments (Details) - Schedule of summary of options granted and on issue [Line Items] | |||
Exercise price (in Dollars per share) | (per share) | $ 7.36 | $ 5 | |
Balance at the start of the year | 31,231,701 | ||
Granted | 7,503,678 | ||
Exercised | |||
Forfeited | (5,770,000) | ||
Expired | (3,350,000) | ||
Balance at the end of the year | 29,615,379 | ||
Grant date 27/04/2017 [Member] | |||
Share-Based Payments (Details) - Schedule of summary of options granted and on issue [Line Items] | |||
Expiry date | 27/04/2022 | ||
Exercise price (in Dollars per share) | $ / shares | $ 0.2 | ||
Balance at the start of the year | 1,850,000 | ||
Granted | |||
Exercised | |||
Forfeited | |||
Expired | (1,850,000) | ||
Balance at the end of the year | |||
Grant date 20/10/2016 [Member] | |||
Share-Based Payments (Details) - Schedule of summary of options granted and on issue [Line Items] | |||
Expiry date | 20/10/2026 | ||
Exercise price (in Dollars per share) | $ / shares | $ 0.12 | ||
Balance at the start of the year | 614,090 | ||
Granted | |||
Exercised | |||
Forfeited | |||
Expired | |||
Balance at the end of the year | 614,090 | ||
Grant date 05/11/2015 [Member] | |||
Share-Based Payments (Details) - Schedule of summary of options granted and on issue [Line Items] | |||
Expiry date | 05/11/2025 | ||
Exercise price (in Dollars per share) | $ / shares | $ 0.12 | ||
Balance at the start of the year | 767,611 | ||
Granted | |||
Exercised | |||
Forfeited | |||
Expired | |||
Balance at the end of the year | 767,611 | ||
Grant date 17/04/2018 [Member] | |||
Share-Based Payments (Details) - Schedule of summary of options granted and on issue [Line Items] | |||
Expiry date | 16/04/2023 | ||
Exercise price (in Dollars per share) | $ / shares | $ 0.15 | ||
Balance at the start of the year | 2,200,000 | ||
Granted | |||
Exercised | |||
Forfeited | (400,000) | ||
Expired | |||
Balance at the end of the year | 1,800,000 | ||
Grant date 30/05/2018 [Member] | |||
Share-Based Payments (Details) - Schedule of summary of options granted and on issue [Line Items] | |||
Expiry date | 29/05/2024 | ||
Exercise price (in Dollars per share) | $ / shares | $ 0.15 | ||
Balance at the start of the year | 400,000 | ||
Granted | |||
Exercised | |||
Forfeited | |||
Expired | |||
Balance at the end of the year | 400,000 | ||
Grant date 30/05/2019 [Member] | |||
Share-Based Payments (Details) - Schedule of summary of options granted and on issue [Line Items] | |||
Expiry date | 25/06/2025 | ||
Exercise price (in Dollars per share) | $ / shares | $ 0.15 | ||
Balance at the start of the year | 3,000,000 | ||
Granted | |||
Exercised | |||
Forfeited | |||
Expired | |||
Balance at the end of the year | 3,000,000 | ||
Grant date 05/08/2019 [Member] | |||
Share-Based Payments (Details) - Schedule of summary of options granted and on issue [Line Items] | |||
Expiry date | 05/08/2022 | ||
Exercise price (in Dollars per share) | $ / shares | $ 0.15 | ||
Balance at the start of the year | 1,500,000 | ||
Granted | |||
Exercised | |||
Forfeited | |||
Expired | (1,500,000) | ||
Balance at the end of the year | |||
Grant date 29/12/2020 [Member] | |||
Share-Based Payments (Details) - Schedule of summary of options granted and on issue [Line Items] | |||
Expiry date | 29/12/2025 | ||
Exercise price (in Dollars per share) | $ / shares | $ 0.08 | ||
Balance at the start of the year | 9,400,000 | ||
Granted | |||
Exercised | |||
Forfeited | (4,280,000) | ||
Expired | |||
Balance at the end of the year | 5,120,000 | ||
Grant date 15/07/2021 [Member] | |||
Share-Based Payments (Details) - Schedule of summary of options granted and on issue [Line Items] | |||
Expiry date | 15/07/2026 | ||
Exercise price (in Dollars per share) | $ / shares | $ 0.08 | ||
Balance at the start of the year | 11,500,000 | ||
Granted | |||
Exercised | |||
Forfeited | |||
Expired | |||
Balance at the end of the year | 11,500,000 | ||
Grant date 13/04/2022 [Member] | |||
Share-Based Payments (Details) - Schedule of summary of options granted and on issue [Line Items] | |||
Expiry date | 13/04/2027 | ||
Exercise price (in Dollars per share) | $ / shares | $ 0.08 | ||
Balance at the start of the year | |||
Granted | 400,000 | ||
Exercised | |||
Forfeited | |||
Expired | |||
Balance at the end of the year | 400,000 | ||
Grant date 13/04/2022 [Member] | |||
Share-Based Payments (Details) - Schedule of summary of options granted and on issue [Line Items] | |||
Expiry date | 13/04/2027 | ||
Exercise price (in Dollars per share) | $ / shares | $ 0.07 | ||
Balance at the start of the year | |||
Granted | 573,678 | ||
Exercised | |||
Forfeited | |||
Expired | |||
Balance at the end of the year | 573,678 | ||
Grant date 13/04/2022 [Member] | |||
Share-Based Payments (Details) - Schedule of summary of options granted and on issue [Line Items] | |||
Expiry date | 13/04/2027 | ||
Exercise price (in Dollars per share) | $ / shares | $ 0.05 | ||
Balance at the start of the year | |||
Granted | 6,530,000 | ||
Exercised | |||
Forfeited | (1,090,000) | ||
Expired | |||
Balance at the end of the year | 5,440,000 |
Share-Based Payments (Details_2
Share-Based Payments (Details) - Schedule of options granted during the current financial year, the valuation model inputs used to determine the fair value at the grant date | 12 Months Ended |
Dec. 31, 2022 $ / shares | |
Grant Date [Member] | |
Share-Based Payments (Details) - Schedule of options granted during the current financial year, the valuation model inputs used to determine the fair value at the grant date [Line Items] | |
Grant date | Apr. 13, 2022 |
Expiry date | Apr. 13, 2027 |
Share price at grant date | $ 0.044 |
Exercise price | $ 0.08 |
Expected volatility | 80.40% |
Dividend yield | |
Risk-free interest rate | 0.025% |
Fair value at grant date | $ 0.0238 |
Grant Date One [Member] | |
Share-Based Payments (Details) - Schedule of options granted during the current financial year, the valuation model inputs used to determine the fair value at the grant date [Line Items] | |
Grant date | Apr. 13, 2022 |
Expiry date | Apr. 13, 2027 |
Share price at grant date | $ 0.044 |
Exercise price | $ 0.07 |
Expected volatility | 80.40% |
Dividend yield | |
Risk-free interest rate | 0.025% |
Fair value at grant date | $ 0.025 |
Grant Date Two [Member] | |
Share-Based Payments (Details) - Schedule of options granted during the current financial year, the valuation model inputs used to determine the fair value at the grant date [Line Items] | |
Grant date | Apr. 13, 2022 |
Expiry date | Apr. 13, 2027 |
Share price at grant date | $ 0.044 |
Exercise price | $ 0.05 |
Expected volatility | 80.40% |
Dividend yield | |
Risk-free interest rate | 0.025% |
Fair value at grant date | $ 0.0278 |