Notes to the Consolidated Financial Statements continued ANNUAL Report June 2023 Notes to the Consolidated Financial Statements 42 Debt Component – Convertible Notes 2023 $ Opening balance at 1 July 2022 3,004,651 Accrued interest at effective interest rate 586,963 Interest paid at coupon rate (280,000) Capitalised borrowing costs 182,601 Balance as at 30 June 2023 3,494,215 2022 Opening balance at 1 July 2021 $ Convertible notes issued on 17 September 2021 4,279,000 Notes converted 28, 29 & 30 September 2021 (1,426,333) Convertible notes on issue as at 30 September 2022 2,852,667 Captialised borrowing costs as at 30 September 2022 (365,202) Accrued interest at effective interest rate 380,235 Capitalised borrowing costs recognised at FVPL 136,951 Balance as at 30 June 2022 3,004,651 Accounting Policy The component of convertible notes that exhibits characteristics of a liability is recognised as a liability in the Statement of Financial Position, net of transaction costs. The increase in liability due to passage of time is recognised as a finance cost. The remainder of the proceeds are included in shareholders’ equity, net of transaction costs. The carrying amount of the conversion option is not remeasured in subsequent years. Transaction costs are apportioned between the liability and equity components of the convertible notes based on the allocation of proceeds to the liability and equity components when the instruments are first recognised. The liability component of the convertible notes has been classified as a current liability in accordance with AASB 101 Amendments to Australian Accounting Standards – Classification of Liabilities as Current or Non-Current due to the Company not having a right to defer settlement for at least twelve months after the reporting period. 14. EARNINGS PER SHARE 2023 $ 2022 $ Profit (Loss) after income tax attributable to the owners of the Company used in calculating basic and diluted earnings per share (3,716,846) (6,063,051) Number Number Weighted average number of ordinary shares on issue used in the calculation of basic loss per share 1,420,196,670 1,336,589,754 Weighted average number of ordinary shares used in calculating diluted earnings per share. Note options outstanding at reporting date have not been brought to account as they are anti-dilutive. 1,547,960,515 1,444,252,768 Basic profit (loss) per share (cents) (0.26) (0.45) Diluted profit (loss) per share (cents) (0.24) (0.42) 84 EQ Resources Limited Annual Report 2023
RkJQdWJsaXNoZXIy MjE2NDg3