Announcement PDF Enlitic, Inc. Appendix 4D Half-year report 1. Company details Name of entity: ARBN: Reporting period: Previous period: Enlitic, Inc. 672 254 027 For the half-year ended 30 June 2025 For the half-year ended 30 June 2024 2. Results for announcement to the market US$ Revenues from ordinary activities up 824.6% to 1,889,254 Loss from ordinary activities after tax up 0.2% to (6,862,114) Loss for the half-year up 0.2% to (6,862,114) Dividends There were no dividends paid, recommended or declared during the current financial period. Comments The loss for the Group after providing for income tax amounted to US$6,862,114 (30 June 2024: US$6,845,737). Refer to the Directors' report in the attached Interim Report for discussion of the review of operations for the half-year. 3. Net tangible assets Reporting period Cents Net tangible assets per ordinary security 0.73 Previous period Cents 4.71 Calculated as follows: Group 30 Jun 2025 30 Jun 2024 US$ US$ Net assets Less: Right-of-use assets Less: Intangibles Add: Lease liabilities Net tangible assets 10,362,262 (86,581) (4,337,282) 112,378 6,050,777 4,070,042 (4,643) 4,065,399 Total ordinary shares ('common stock') issued (number) 833,174,615 86,298,010 4. Control gained over entities Not applicable. 5. Loss of control over entities Not applicable. Enlitic, Inc. Appendix 4D Half-year report 6. Dividends Current period There were no dividends paid, recommended or declared during the current financial period. Previous period There were no dividends paid, recommended or declared during the previous financial period. 7. Dividend reinvestment plans Not applicable. 8. Details of associates and joint venture entities Not applicable. 9. Foreign entities Details of origin of accounting standards used in compiling the report: The attached financial statements for the interim half-year reporting period ended 30 June 2025 have been prepared in accordance with Australian Accounting Standard AASB 134 'Interim Financial Reporting' and the Corporations Act 2001, as appropriate for for-profit oriented entities. Compliance with AASB 134 ensures compliance with International Financial Reporting Standard IAS 34 'Interim Financial Reporting'. The financial statements do not include all the notes of the type normally included in annual financial statements. Accordingly, the attached financial statements are to be read in conjunction with the annual report for the year ended 31 December 2024 and any public announcements made by the Company during the interim reporting period in accordance with the continuous disclosure requirements of the Corporations Act 2001. 10. Audit qualification or review Details of audit/review dispute or qualification (if any): The financial statements were subject to a review by the auditors and the review report is attached as part of the Interim Report. An unqualified opinion has been issued with a paragraph addressing material uncertainty related to going concern. 11. Attachments Details of attachments (if any): The Interim Report of Enlitic, Inc. for the half-year ended 30 June 2025 is attached. 12. Signed Signed ___________________________ Darren Scotti Chief Financial Officer and Company Secretary Date: 27 August 2025 Enlitic, Inc. ARBN 672 254 027 Interim Report - 30 June 2025 Enlitic, Inc. Contents 30 June 2025 Directors' report Auditor's independence declaration Consolidated statement of profit or loss and other comprehensive income Consolidated statement of financial position Consolidated statement of changes in equity Consolidated statement of cash flows Notes to the consolidated financial statements Directors' declaration Independent auditor's review report to the members of Enlitic, Inc. 1 2 4 5 6 7 8 9 18 19 Enlitic, Inc. Directors' report 30 June 2025 The Directors present their report, together with the financial statements, on the consolidated entity (referred to hereafter as the 'Group') consisting of Enlitic, Inc. (referred to hereafter as the 'Company' or 'parent entity') and the entities it controlled at the end of, or during, the half-year ended 30 June 2025. Directors The following persons were Directors of Enlitic, Inc. during the whole of the financial half-year and up to the date of this report, unless otherwise stated: Lawrence Gozlan - Chair Michael Sistenich Sergio Duchini Lisa Pettigrew Principal activities The Group's principal activity is to intelligently manage healthcare data using the power of artificial intelligence to expand capacity and improve clinical workflows and create a foundation for a real-world evidence medical image database for healthcare providers. Dividends There were no dividends paid, recommended or declared during the current or previous financial half-year. Review of operations Enlitic is developing and commercialising AI software products that manage medical imaging data in radiology (such as MRI, CT scans, X-ray and ultrasound images) and licences such products to healthcare providers. Enlitic’s mission is to revolutionise healthcare by empowering evidence-based decision-making, enhancing research, and transforming healthcare delivery. Enlitic operates in the global healthcare IT market, specifically within the radiology sub sector. The Group primarily generates revenue from a subscription-based revenue model and project-based migrations. Subscription contracts typically have a 3-year term with a renewal mechanism, whilst projects are milestone driven. The Group has signed 36 new agreements in the first half of 2025 with a total contract value of US$2.3m. For the 6 months ended 30 June 2025, the Group reported an increase in customer license agreement revenue of 74.3% to US$355k from US$204k. For the six months ended 30 June 2025, migration services generated revenue of US$1.45m. Operating expenses, which consist of employee expenses, marketing expenses, administration expenses, professional fees, subscriptions, travel and other expenses increased by approximately 15.4% to US$8.2m million for the six months to 30 June 2025 from $7.1 million for the corresponding period in 2024. This increase is attributable to the acquisition of Laitek. The operating expenses for the six months to 30 June 2025 includes approximately US$1.4m cost savings for this period. The loss before income tax expense increased to US$6.9 million for the six months to 30 June 2025 from a loss before income tax of US$6.8 million for the same period in 2024. As a result of the loss incurred for the half-year ended 30 June 2025 and the net cash outflows from operating activities for the interim period, there is a material uncertainty on whether the Group can continue as a going concern. The Directors consider that the Group will continue as a going concern, as explained in note 2 to the financial statements. 2 Enlitic, Inc. Directors' report 30 June 2025 Significant changes in the state of affairs At an Extraordinary General Meeting held on 14 January 2025, the shareholders approved the issuance of options to the Board of Directors as follows: Number issued Michael Sistenich Lawrence Gozlan Lisa Pettigrew Sergio Duchini 23,000,000 6,800,000 2,800,000 2,800,000 35,400,000 On 16 January 2025, the Company awarded 35,968,000 options to employees. The total options issued on 16 January 2025 was 71,368,000. GE Healthcare In May 2025 the Company signed a binding Memorandum of Understanding(1) ('MOU') with GE Healthcare. Under this MOU, Enlitic’s wholly owned subsidiary, Laitek, agreed to work in good faith to deliver between US$3-6m per year of annual migration capacity to GE HealthCare for the next 5 years. (1) The MOU, while binding, is not a complete expression of the necessary terms between the parties, but rather, establishes the basis for developing a definitive agreement or agreements and/or amending existing agreements between the parties to establish such a complete expression of necessary terms. The MOU does, however, oblige GE HealthCare to provide advance payment of US$2 million upon confirmation by Enlitic that it has secured A$10 million in funding from external sources. As announced to ASX on 4 July 2025, confirmation of such funding was provided by Enlitic in June 2025 and Enlitic received the US$2 million advance payment from GE HealthCare in July 2025. Capital Raising In May 2025, the Company requested a trading halt for the purposes of undertaking a proposed equity raising. In mid-June 2025, Enlitic successfully completed a capital raising of A$10 million by way of a two-tranche placement via the issue of new CDIs. There were no other significant changes in the state of affairs of the Group during the financial half-year. Matters subsequent to the end of the financial half-year GE HealthCare paid US$2 million for Laitek’s migration services in early July 2025, thereby fulfilling all required actions under the MOU and allowing both parties to move forward with their collaboration. No other matter or circumstance has arisen since 30 June 2025 that has significantly affected, or may significantly affect the Group's operations, the results of those operations, or the Group's state of affairs in future financial years. Auditor's independence declaration A copy of the auditor's independence declaration as required under section 307C of the Corporations Act 2001 is set out immediately after this Directors' report. This report is made in accordance with a resolution of Directors, pursuant to section 306(3)(a) of the Corporations Act 2001. On behalf of the Directors ___________________________ Lawrence Gozlan Director ___________________________ Michael Sistenich Director 27 August 2025 3 RSM Australia Partners Level 27, 120 Collins Street Melbourne VIC 3000 PO Box 248 Collins Street West VIC 8007 T +61 (0) 3 9286 8000 F +61 (0) 3 9286 8199 www.rsm.com.au AUDITOR’S INDEPENDENCE DECLARATION As lead auditor for the review of the financial report of Enlitic, Inc. and its controlled entities for the half-year ended 30 June 2025, I declare that, to the best of my knowledge and belief, there have been no contraventions of: (i) the auditor independence requirements of the Corporations Act 2001 in relation to the review; and (ii) any applicable code of professional conduct in relation to the review. RSM AUSTRALIA PARTNERS M PARAMESWARAN Partner Dated: 27 August 2025 Melbourne, Victoria 4 THE POWER OF BEING UNDERSTOOD AUDIT | TAX | CONSULTING RSM Australia Partners is a member of the RSM network and trades as RSM. RSM is the trading name used by the members of the RSM network. Each member of the RSM network is an independent accounting and consulting firm which practices in its own right. The RSM network is not itself a separate legal entity in any jurisdiction. RSM Australia Partners ABN 36 965 185 036 Liability limited by a scheme approved under Professional Standards Legislation Enlitic, Inc. Consolidated statement of profit or loss and other comprehensive income For the half-year ended 30 June 2025 Note Group 30 Jun 2025 30 Jun 2024 US$ US$ Revenue 4 1,889,254 204,334 Other income Interest revenue calculated using the effective interest method 5 7,939 21,114 1,778 78,238 6 (6,418,180) (143,052) (105,148) (743,809) (37,434) (443,110) (1,102) (216,286) (641,910) (2,656) (4,289,257) (123,041) (57,201) (1,436,295) (4,585) (426,863) (1,092) (259,205) (532,548) - (6,834,380) (6,845,737) (27,734) - (6,862,114) (6,845,737) Items that may be reclassified subsequently to profit or loss Foreign currency translation (438,887) (26,633) Other comprehensive income for the half-year, net of tax (438,887) (26,633) (7,301,001) (6,872,370) Cents Cents Expenses Employee benefits expense Marketing Depreciation and amortisation expense Professional fees Administration expenses Subscriptions Exchange loss Travel Other expenses Finance costs 6 Loss before income tax expense Income tax expense Loss after income tax expense for the half-year Other comprehensive income Total comprehensive income for the half-year Basic earnings per share Diluted earnings per share 17 17 (1.08) (1.08) (7.93) (7.93) The above consolidated statement of profit or loss and other comprehensive income should be read in conjunction with the accompanying notes 5 Enlitic, Inc. Consolidated statement of financial position As at 30 June 2025 Note Group 30 Jun 2025 31 Dec 2024 US$ US$ Assets Current assets Cash and cash equivalents Trade and other receivables Contract assets Income tax refund due Other assets Total current assets 7 8 5,556,122 3,057,752 125,000 2,842 424,801 9,166,517 7,156,705 675,619 150,000 702,788 8,685,112 53,170 86,581 4,337,282 961,178 5,438,211 88,646 109,167 4,352,188 961,178 2,765 5,513,944 14,604,728 14,199,056 1,026,051 2,904,037 43,019 3,973,107 1,705,925 1,085,613 43,019 23,503 43,437 2,901,497 200,000 69,359 269,359 200,000 69,359 269,359 Total liabilities 4,242,466 3,170,856 Net assets 10,362,262 11,028,200 9 Non-current assets Property, plant and equipment Right-of-use assets Intangibles Deferred tax Other assets Total non-current assets 10 11 9 Total assets Liabilities Current liabilities Trade and other payables Contract liabilities Lease liabilities Income tax Employee benefits Total current liabilities 12 Non-current liabilities Borrowings Lease liabilities Total non-current liabilities Equity Issued capital Reserves Accumulated losses 13 14 Total equity 134,499,520 128,170,457 3,093,341 3,226,228 (127,230,599) (120,368,485) 10,362,262 11,028,200 The above consolidated statement of financial position should be read in conjunction with the accompanying notes 6 Enlitic, Inc. Consolidated statement of changes in equity For the half-year ended 30 June 2025 Issued capital US$ Group Balance at 1 January 2024 Accumulated losses Total equity US$ US$ Reserves US$ 112,750,132 3,320,821 (105,130,590) 10,940,363 Loss after income tax expense for the half-year Other comprehensive income for the half-year, net of tax - (26,633) (6,845,737) - (6,845,737) (26,633) Total comprehensive income for the half-year - (26,633) (6,845,737) (6,872,370) 2,049 - - 2,049 3,294,188 (111,976,327) 4,070,042 Transactions with owners in their capacity as owners: Issue of shares Balance at 30 June 2024 112,752,181 Issued capital US$ Group Balance at 1 January 2025 Reserves US$ 128,170,457 Accumulated losses Total equity US$ US$ 3,226,228 (120,368,485) 11,028,200 Loss after income tax expense for the half-year Other comprehensive income for the half-year, net of tax - (438,887) (6,862,114) - (6,862,114) (438,887) Total comprehensive income for the half-year - (438,887) (6,862,114) (7,301,001) 6,329,063 - 306,000 - 6,329,063 306,000 3,093,341 (127,230,599) 10,362,262 Transactions with owners in their capacity as owners: Issue of shares (note 13) Share-based payments (note 18) Balance at 30 June 2025 134,499,520 The above consolidated statement of changes in equity should be read in conjunction with the accompanying notes 7 Enlitic, Inc. Consolidated statement of cash flows For the half-year ended 30 June 2025 Note Group 30 Jun 2025 30 Jun 2024 US$ US$ Cash flows from operating activities Receipts from customers (inclusive of GST) Payments to suppliers and employees (inclusive of GST) 1,450,856 (8,704,337) 193,237 (7,026,752) Interest received Interest and other finance costs paid (7,253,481) 21,114 (2,656) (6,833,515) 78,238 - Net cash used in operating activities (7,235,023) (6,755,277) (7,480) 4,492 (18,188) 2,231 (2,988) (15,957) Cash flows from financing activities Proceeds from issue of shares Proceeds from exercise of options Share issue transaction costs 6,402,706 1,047 (788,342) 2,049 - Net cash from financing activities 5,615,411 2,049 Net decrease in cash and cash equivalents Cash and cash equivalents at the beginning of the financial half-year Effects of exchange rate changes on cash and cash equivalents (1,622,600) 7,156,705 22,017 (6,769,185) 11,091,059 (26,633) Cash and cash equivalents at the end of the financial half-year 5,556,122 4,295,241 Cash flows from investing activities Payments for property, plant and equipment Proceeds from disposal of property, plant and equipment 10 Net cash used in investing activities The above consolidated statement of cash flows should be read in conjunction with the accompanying notes 8 Enlitic, Inc. Notes to the consolidated financial statements 30 June 2025 Note 1. General information The financial statements cover Enlitic, Inc. as a Group consisting of Enlitic, Inc. ('Company' or 'parent entity') and the entities it controlled at the end of, or during, the half-year (together referred to in these financial statements as the 'Group'). The financial statements are presented in US Dollars, which is Enlitic, Inc.'s functional and presentation currency. Enlitic, Inc. is a listed public company limited by shares, incorporated and domiciled in United States of America. Its registered office and principal place of business are: Registered office Principal place of business 1209 Orange Street City of Wilmington County of New Castle Delaware, USA 19801 2510 East Harmony Road Suite 202 Fort Collins Colorado, USA 80528 A description of the nature of the Group's operations and its principal activities are included in the Directors' report, which is not part of the financial statements. The financial statements were authorised for issue, in accordance with a resolution of Directors, on 27 August 2025. The Directors have the power to amend and reissue the financial statements. Note 2. Material accounting policy information These general purpose financial statements for the interim half-year reporting period ended 30 June 2025 have been prepared in accordance with Australian Accounting Standard AASB 134 'Interim Financial Reporting' and the Corporations Act 2001, as appropriate for for-profit oriented entities. Compliance with AASB 134 ensures compliance with International Financial Reporting Standard IAS 34 'Interim Financial Reporting'. These general purpose financial statements do not include all the notes of the type normally included in annual financial statements. Accordingly, these financial statements are to be read in conjunction with the annual report for the year ended 31 December 2024 and any public announcements made by the Company during the interim reporting period in accordance with the continuous disclosure requirements of the Corporations Act 2001. The accounting policies adopted are consistent with those of the previous financial year and corresponding interim reporting period, unless otherwise stated. New or amended Accounting Standards and Interpretations adopted The Group has adopted all of the new or amended Accounting Standards and Interpretations issued by the Australian Accounting Standards Board ('AASB') that are mandatory for the current reporting period. The adoption of these Accounting Standards and Interpretations did not have any significant impact on the financial performance or position of the Group during the financial half-year ended 30 June 2025 and are not expected to have a significant impact for the full financial year ending 31 December 2024. Any new or amended Accounting Standards or Interpretations that are not yet mandatory have not been early adopted. Going concern The financial statements have been prepared on the going concern basis, which contemplates continuity of normal business activities and the realisation of assets and discharge of liabilities in the normal course of business. As disclosed in the financial statements, the Group incurred a net loss after tax of $6,862,114 and had net cash outflows from operating activities of $7,235,023 for the half-year ended 30 June 2025. These factors indicate a material uncertainty which may cast significant doubt over the ability of the Group to continue as a going concern and therefore whether it will realise its assets and extinguish its liabilities in the normal course of business and at the amounts stated in the financial report. 9 Enlitic, Inc. Notes to the consolidated financial statements 30 June 2025 Note 2. Material accounting policy information (continued) The Directors believe that there are reasonable grounds to believe that the Group will be able to continue as a going concern as the Directors believe the Group will have the ability to raise funds from existing shareholders and new investors to support working capital and execute its strategic growth initiatives. Accordingly, the Directors believe that the Group will be able to continue as a going concern and that it is appropriate to adopt the going concern basis in the preparation of the financial report. The financial report does not include any adjustments relating to the amounts or classification of recorded assets or liabilities that might be necessary if the Group does not continue as a going concern. Note 3. Operating segments Identification of reportable operating segments The Group is organised into two operating segments: Software and Migration services. These operating segments are based on the internal reports that are reviewed and used by the Board of Directors (who are identified as the Chief Operating Decision Makers ('CODM')) in assessing performance and in determining the allocation of resources. There is no aggregation of operating segments. The CODM reviews EBITDA (earnings before interest, tax, depreciation and amortisation). The accounting policies adopted for internal reporting to the CODM are consistent with those adopted in the financial statements. The information reported to the CODM is on a monthly basis. Types of products and services The principal products and services of each of these operating segments are as follows: Software Being to intelligently manage healthcare data using the power of artificial intelligence to expand capacity and improve clinical workflows and create a foundation for a real-world evidence medical image database for healthcare providers. Migration services Transfer of large volumes of imaging data to allow for the smooth transition of software solutions for healthcare vendors and providers 10 Enlitic, Inc. Notes to the consolidated financial statements 30 June 2025 Note 3. Operating segments (continued) Operating segment information Migration services US$ Total US$ 437,409 7,939 21,114 466,462 1,451,845 1,451,845 1,889,254 7,939 21,114 1,918,307 (6,022,147) (44,612) 21,114 (6,045,645) (725,543) (60,536) (2,656) (788,735) (6,747,690) (105,148) 21,114 (2,656) (6,834,380) (27,734) (6,862,114) Assets Segment assets Total assets 6,050,205 8,554,523 14,604,728 14,604,728 Liabilities Segment liabilities Total liabilities 957,002 3,285,464 4,242,466 4,242,466 Software US$ Group - 30 Jun 2025 Revenue Sales to external customers Other revenue Interest revenue Total revenue EBITDA Depreciation and amortisation Interest revenue Finance costs Loss before income tax expense Income tax expense Loss after income tax expense Software US$ Group - 30 Jun 2024 Revenue Sales to external customers Other revenue Interest revenue Total revenue Migration services US$ Total US$ 204,334 1,778 78,238 284,350 - 204,334 1,778 78,238 284,350 (6,866,774) (57,201) 78,238 (6,845,737) - (6,866,774) (57,201) 78,238 (6,845,737) (6,845,737) Assets Segment assets Total assets 13,229,024 970,032 14,199,056 14,199,056 Liabilities Segment liabilities Total liabilities 1,675,765 1,495,091 3,170,856 3,170,856 EBITDA Depreciation and amortisation Interest revenue Finance costs Loss before income tax expense Income tax expense Loss after income tax expense Group - 31 Dec 2024 11 Enlitic, Inc. Notes to the consolidated financial statements 30 June 2025 Note 4. Revenue Group 30 Jun 2025 30 Jun 2024 US$ US$ Subscription Consultancy fees 355,507 1,533,747 182,503 21,831 Revenue 1,889,254 204,334 Disaggregation of revenue The disaggregation of revenue from contracts with customers is as follows: Group 30 Jun 2025 30 Jun 2024 US$ US$ Geographical regions United States of America Europe Japan Timing of revenue recognition Services transferred over time 1,703,252 104,100 81,902 66,666 89,500 48,168 1,889,254 204,334 1,889,254 204,334 Note 5. Other income Group 30 Jun 2025 30 Jun 2024 US$ US$ Net gain on disposal of assets 7,939 1,778 Note 6. Expenses Group 30 Jun 2025 30 Jun 2024 US$ US$ Loss before income tax includes the following specific expenses: Employee benefits Wages and salaries Employee benefits Share-based payment expense Payroll taxes 5,222,856 541,372 306,000 347,952 3,605,610 424,512 259,135 Employee benefits expensed 6,418,180 4,289,257 2,656 - Finance costs Interest and finance charges paid/payable on borrowings 12 Enlitic, Inc. Notes to the consolidated financial statements 30 June 2025 Note 7. Cash and cash equivalents Group 30 Jun 2025 31 Dec 2024 US$ US$ Current assets Cash at bank Cash on deposit 5,556,122 - 7,015,970 140,735 5,556,122 7,156,705 Note 8. Trade and other receivables Group 30 Jun 2025 31 Dec 2024 US$ US$ Current assets Trade receivables Other receivables Goods and services tax and related taxes recoverable 3,019,131 25,648 12,973 667,052 444 8,123 3,057,752 675,619 Note 9. Other assets Group 30 Jun 2025 31 Dec 2024 US$ US$ Current assets Prepayments Security deposits Non-current assets Security deposits 13 419,701 5,100 697,788 5,000 424,801 702,788 - 2,765 Enlitic, Inc. Notes to the consolidated financial statements 30 June 2025 Note 10. Property, plant and equipment Group 30 Jun 2025 31 Dec 2024 US$ US$ Non-current assets Leasehold improvements - at cost Less: Accumulated depreciation 148,036 (142,440) 5,596 65,010 (65,010) - Furniture and fixtures - at cost Less: Accumulated depreciation 271,261 (244,292) 26,969 94,676 (79,859) 14,817 Computer equipment - at cost Less: Accumulated depreciation 2,425,021 (2,404,416) 20,605 2,473,821 (2,399,992) 73,829 53,170 88,646 Reconciliations Reconciliations of the written down values at the beginning and end of the current financial half-year are set out below: Leasehold Furniture and improvements fixtures US$ US$ Group Computer equipment US$ Total US$ Balance at 1 January 2025 Additions Exchange differences Transfers in/(out) Depreciation expense 8,416 (2,820) 14,817 7,128 24,687 36,014 (55,677) 73,829 352 (36,014) (17,562) 88,646 7,480 24,687 8,416 (76,059) Balance at 30 June 2025 5,596 26,969 20,605 53,170 Note 11. Intangibles Group 30 Jun 2025 31 Dec 2024 US$ US$ Non-current assets Goodwill - at cost 4,329,378 4,329,378 Patents and trademarks - at cost Less: Accumulated amortisation 12,234 (4,699) 7,535 20,329 (846) 19,483 Software - at cost Less: Accumulated amortisation 120,078 (119,709) 369 116,099 (112,772) 3,327 4,337,282 4,352,188 14 Enlitic, Inc. Notes to the consolidated financial statements 30 June 2025 Note 11. Intangibles (continued) Reconciliations Reconciliations of the written down values at the beginning and end of the current financial half-year are set out below: Patents and trademarks US$ Group Goodwill US$ Software US$ Total US$ Balance at 1 January 2025 Exchange differences Transfers in/(out) Amortisation expense 4,329,378 - 19,483 (8,534) (3,414) 3,327 13 118 (3,089) 4,352,188 13 (8,416) (6,503) Balance at 30 June 2025 4,329,378 7,535 369 4,337,282 Note 12. Trade and other payables Group 30 Jun 2025 31 Dec 2024 US$ US$ Current liabilities Trade payables Accrued expenses Interest payable Other payables 417,324 189,497 2,003 417,227 1,175,857 307,553 5,605 216,910 1,026,051 1,705,925 Class of shares 30 Jun 2025 Shares Group 31 Dec 2024 30 Jun 2025 Shares US$ 31 Dec 2024 US$ Ordinary shares ('common stock') - fully paid 833,174,615 583,167,692 134,499,520 128,170,457 Shares Issue price US$ Note 13. Issued capital Movements in ordinary share capital Details Date Balance Issued on exercise of options Issued on exercise of options Issued on placement Issued on placement Share issue transaction costs 1 January 2025 3 March 2025 3 March 2025 12 May 2025 13 June 2025 583,167,692 1,298 5,625 145,792,651 104,207,349 Balance 30 June 2025 833,174,615 15 US$0.07 US$0.17 US$0.02 US$0.02 128,170,457 91 956 4,045,163 2,869,410 (586,557) 134,499,520 Enlitic, Inc. Notes to the consolidated financial statements 30 June 2025 Note 14. Reserves Group 30 Jun 2025 31 Dec 2024 US$ US$ Foreign currency reserve Share-based payments reserve (285,553) 3,378,894 153,334 3,072,894 3,093,341 3,226,228 Foreign currency reserve The reserve is used to recognise exchange differences arising from the translation of the financial statements of foreign operations to US Dollars. It is also used to recognise gains and losses on hedges of the net investments in foreign operations. Share-based payments reserve The reserve is used to recognise the value of equity benefits provided to employees and Directors as part of their remuneration, and other parties as part of their compensation for services. Movements in reserves Movements in each class of reserve during the current financial half-year are set out below: Foreign currency reserve US$ Group Share-based payments reserve US$ Total US$ Balance at 1 January 2025 Foreign currency translation Share-based payments 153,334 (438,887) - 3,072,894 306,000 3,226,228 (438,887) 306,000 Balance at 30 June 2025 (285,553) 3,378,894 3,093,341 Note 15. Dividends There were no dividends paid, recommended or declared during the current or previous financial half-year. Note 16. Contingent liabilities During the prior periods, the Company has filed amended payroll tax returns to rectify tax offsets relating to prior years. As at 30 June 2025, the Group may be liable for a payroll tax payment of approximately $101,000 (excluding interest and penal