ANNUAL Report June 2023 Notes to the Consolidated Financial Statements 39 Stage 3 – Sozo to spend a further $750K of expenditure and complete a Scoping Study (as defined by the 2012 JORC Code) within a further 24 months to earn a further 29% (in total $1.6M for 80%). Sozo Resources has successfully completed the Stage 1 Farm-In Conditions and has elected to proceed to Stage 2 Farm-In, providing Sozo the exclusive right to earn a 49% legal and beneficial interest in the Joint Venture gold properties subject to conditions. 11. TRADE AND OTHER PAYABLES 2023 $ 2022 $ PAYABLES Trade payables 8,390,574 3,747,115 Other taxation 779,477 316,960 Unearned revenue 461,247 284,550 Accrued expenses 1,678,556 677,906 Other - - 11,309,854 5,026,531 12. ISSUED CAPITAL 2023 $ 2022 $ Share Capital 1,474,486,938 (2022: 1,344,186,938) ordinary shares fully paid 27,222,060 22,192,705 27,222,060 22,192,705 (a) Movements in Ordinary Share Capital 1 July 2022 to 30 June 2023 Date Number of Shares Issue Price $ Balance b/fwd 1,344,186,938 22,192,705 Issue of 25,000,000 shares @ $0.040 per share to sophisticated investors as part of the October 2022 share placement (refer ASX announcement dated 7 November 2022) 07/11/2022 25,000,000 $0.040 1,000,000 Issue of 47,670,615 shares @ $0.040 per share to sophisticated investors as part of the October 2022 share placement (refer ASX announcement dated 10 November 2022) 10/11/2022 47,670,615 $0.040 1,906,825 Issue of 19,599,064 shares @ $0.040 per share to sophisticated investors as part of the October 2022 share placement (refer ASX announcement dated 14 November 2022) 14/11/2022 19,599,064 $0.040 783,962 Issue of 16,730,321 shares @ $0.040 per share to sophisticated investors as part of the October 2022 share placement (refer ASX announcement dated 15 November 2022) 15/11/2022 16,730,321 $0.040 669,213 Issue of 6,300,000 shares @ $0.040 per share to convertible note holders for annual interest payable on the convertible notes (refer ASX announcement dated 21 November 2022) 21/11/2022 6,300,000 $0.040 252,000 Issue of 5,000,000 shares @ $0.040 per share to sophisticated shareholders, approved by shareholders on 25 January 2023, as part of the October 2022 placement (refer ASX announcement dated 1 February 2023) 01/02/2023 5,000,000 $0.040 200,000 Issue of 2,000,000 shares @ $0.040 per share upon the exercise of unlisted options granted to Key Management Personnel (refer ASX announcement dated 1 May 2023) 01/05/2023 2,000,000 $0.040 80,000 Issue of 3,000,000 shares @ $0.060 per share upon the exercise of unlisted options granted to Key Management Personnel (refer ASX announcement 16 May 2023) 16/05/2023 3,000,000 $0.060 180,000 EQ Resources Limited Annual Report 2023 81
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