Distributions
No dividends have been paid or declared by the company for the current financial period. No dividends were paid for the previous financial period.
Explanation of results
The group reported a loss for the year ended 30 June 2021 of $15,113,711 (30 June 2020: $64,008). This increased loss compared to the comparative period is due to the increased activity in the group and the clinical trial and research activities that have been undertaken.
On the back of successful raises through the issue of convertible notes and initial public offering, the group’s net assets increased to $25,130,688 (30 June 2020: ($63,908)). As at 30 June 2021, the group had cash reserves of $22,410,199 (30 June 2020: $100).
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