ANNUAL REPORT FY23 41 Consolidated statement of cash flows For the year ended 30 June 2023 2023 2022 Note $ $ Cash flows fromoperating activities Payments to suppliers and employees (inclusive of GST) (8,517,039) (4,292,579) R & D tax incentive received 1,168,831 1,309,650 Interest received 148,817 13,830 Cash receipts from other government grants 5 - 45,411 Net cash used in operating activities (7,199,391) (2,923,688) Cash flows from investing activities Payments for plant and equipment - (4,756) Net cash used in investing activities - (4,756) Cash flows from financing activities Proceeds from other financing activities - (44,521) Transaction costs relating to issue of Common Stock - (224,440) Net cash used in financing activities - (268,961) Net decrease in cash and cash equivalents (7,199,391) (3,197,405) Cash and cash equivalents at the beginning of the financial year 10,816,039 13,750,743 Effects of exchange rate changes on cash and cash equivalents 92,113 262,701 Cash and cash equivalents at the end of the financial year 3,708,761 10,816,039 The above consolidated statement of cash flows should be read in conjunction with the accompanying notes.
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