| Lessee, Operating Leases and Finance Leases [Text Block] |
6. Leases
The Company’s lease portfolio consists primarily of operating leases for office space and equipment with contractual terms expiring from December 2025 to February 2032. Lease contracts may include one or more renewal options that allow the Company to extend the lease term. The exercise of lease options is generally at the discretion of the Company. None of the Company’s leases contain residual value guarantees, substantial restrictions, or covenants. The Company’s leases are substantially within Australia and Canada.
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June 30, 2025
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December 31, 2024
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|
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|
A$
|
|
|
A$
|
|
|
Operating lease right-of-use assets:
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|
|
|
|
|
|
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Non-current
|
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|
2,297,898 |
|
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|
2,468,019 |
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|
Operating lease liabilities:
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|
|
|
|
|
|
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Current
|
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|
608,620 |
|
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|
900,402 |
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|
Non-current
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2,188,239 |
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2,365,667 |
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Weighted average remaining lease terms (in years)
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6.0 |
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|
6.0 |
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Weighted average discount rate
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4.7 |
% |
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|
4.8 |
% |
The components of lease income/expense were as follows:
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Three Months Ended June 30,
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Six Months Ended June 30,
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2025
|
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2024
|
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|
2025
|
|
|
2024
|
|
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|
A$
|
|
|
A$
|
|
|
A$
|
|
|
A$
|
|
|
Fixed payment operating lease expense
|
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127,697 |
|
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|
109,563 |
|
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|
231,055 |
|
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|
224,899 |
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|
Short-term lease expense
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3,306 |
|
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|
2,324 |
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|
4,862 |
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|
3,111 |
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Sub-lease income
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42,119 |
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36,822 |
|
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|
80,772 |
|
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|
73,213 |
|
The sublease income is deemed an operating lease.
The components of the fixed payment operating and short-term lease expense as classified in the consolidated condensed statements of comprehensive income/(loss) are as follows:
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Three Months Ended June 30,
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|
Six Months Ended June 30,
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|
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2025
|
|
|
2024
|
|
|
2025
|
|
|
2024
|
|
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|
A$
|
|
|
A$
|
|
|
A$
|
|
|
A$
|
|
|
Cost of services
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3,184 |
|
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(2,596 |
) |
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|
5,715 |
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|
12,383 |
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Research and development
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3,956 |
|
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|
(19,828 |
) |
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7,102 |
|
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|
15,135 |
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Selling, general and administrative
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120,557 |
|
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|
131,987 |
|
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218,238 |
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|
197,381 |
|
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|
127,697 |
|
|
|
109,563 |
|
|
|
231,055 |
|
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|
224,899 |
|
Supplemental cash flow information related to the Company’s leases was as follows:
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|
Six Months Ended June 30,
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|
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2025
|
|
|
2024
|
|
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|
A$
|
|
|
A$
|
|
|
Operating cash outflows from operating leases
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568,836 |
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|
499,584 |
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Supplemental non-cash information related to the Company’s leases was as follows:
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Six Months Ended June 30,
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|
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2025
|
|
|
2024
|
|
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|
A$
|
|
|
A$
|
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|
Right-of-use assets obtained in exchange for lease liabilities
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0 |
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28,353 |
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Future lease payments are as follows:
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June 30, 2025
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December 31, 2024
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|
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A$
|
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|
A$
|
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|
1 year
|
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|
714,816 |
|
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|
1,022,251 |
|
|
2 years
|
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|
411,903 |
|
|
|
407,413 |
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3 years
|
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|
417,634 |
|
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|
416,427 |
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|
4 years
|
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|
423,570 |
|
|
|
418,875 |
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5 years
|
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|
433,100 |
|
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|
428,300 |
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Thereafter
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742,471 |
|
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|
960,633 |
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Total future lease payments
|
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3,143,494 |
|
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3,653,899 |
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Less: imputed interest
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(346,636 |
) |
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(387,830 |
) |
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Total operating lease liabilities
|
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2,796,858 |
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3,266,069 |
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Current
|
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|
608,620 |
|
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|
900,402 |
|
|
Non-current
|
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2,188,239 |
|
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|
2,365,667 |
|
As of June 30, 2025, the Company has not entered into any operating or finance lease agreements that have not yet commenced.
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