| For the Year Ended June 30, | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2024 | 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (in thousands of $ unless otherwise indicated) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Consolidated Statement of Profit or Loss and Other Comprehensive Income: | Revenue | Revenue from customers | 342 | 268 | Grant revenue | — | 651 | Total revenue | 342 | 919 | Expenses | Employee benefits expense | 5,274 | 2,984 | Consultancy expenses | 3,943 | 2,134 | Administrative and other expenses | 10,529 | 8,080 | Share based listing expenses | 106,055 | — | Raw materials and consumables used | 815 | 600 | Depreciation expense | 84 | 49 | Finance costs, net | 1,947 | 2,518 | Share in loss of jointly controlled entities | 206 | 254 | Gain/(loss) on derivative financial instruments | 164,935 | (105) | Total expenses | 293,787 | 16,514 | Net loss before income tax | (293,445) | (15,595) | Income tax benefit | — | 378 | Net loss | (293,445) | (15,217) | Other comprehensive income that may be reclassified to profit or net loss in subsequent periods: | Gain on foreign currency translation | (402) | 891 | Total Comprehensive Loss for the year | (293,848) | (14,326) | |||||||||||||||||||||||||||||
| Year Ended June 30, | ||||||||||||
| 2024 | 2023 | |||||||||||
| (In thousands) | ||||||||||||
| Refundable R&D tax offset for the year | $ | — | $ | 651 | R&D Tax credit recoveries recognized as grant income | $ | — | $ | 651 | |||
| As of July 1, 2022 | (Charged)/ credited to profit or loss | Movement in equity | Exchange differences (charged)/credited to comprehensive loss | As of June 30, 2023 | |||||||||||||||||||||||||||||||||||||||||
| (In thousands of US Dollars) | |||||||||||||||||||||||||||||||||||||||||||||
| Borrowings – convertible notes | $ | (585) | $ | 551 | $ | (378) | $ | 22 | $ | (390) | Property, plant and equipment | (5) | (3) | — | — | (8) | Right of use asset | (20) | 10 | — | — | (10) | Prepaid expenses | (8) | (4) | — | 1 | (11) | Deferred tax liabilities | $ | (618) | $ | 554 | $ | (378) | $ | 23 | $ | (419) | ||||||
| Year Ended June 30, | ||||||||||||||||
| 2024 | 2023 | 2022 | ||||||||||||||
| (In thousands of US Dollars) | ||||||||||||||||
| Refundable R&D tax offset for the year | $ | — | $ | 651 | $ | 753 | R&D Tax credit recoveries recognised as grant income | $ | — | $ | 651 | $ | 753 | |||
| Year Ended June 30, | ||||||||||||||||||||||
| 2024 | 2023 | 2022 | ||||||||||||||||||||
| (In thousands of US Dollars) | ||||||||||||||||||||||
| Current tax expense | $ | — | $ | — | $ | — | Deferred tax expense | |||||||||||||||
| Decrease/(increase) in deferred tax assets | (1,256) | 176 | (91) | (Decrease)/increase in deferred tax liabilities | 1,256 | (554) | (527) | — | (378) | (618) | Income tax (expense) / benefit | $ | — | $ | 378 | $ | 618 | |||||
