Nyrada Inc Annual Report 2020

NYRADA INC (ASX:NYR) 44 16. Going concern For the period ended 30 June 2020 the consolidated entity incurred a loss after tax of $5,773,667 and incurred a net cash outflow from operating activities of $4,410,623. As at 30 June 2020, the consolidated entity had net assets of $5,526,600. The directors are satisfied that at the date of signing of the financial report, there are reasonable grounds to believe that the company will be able to meet its debts as and when they fall due and that it is appropriate for the financial report to be prepared on a going concern basis. 17. Segment information From the period beginning 1 July 2019 the Board considers that the Company has only operated in one Segment. The financial information presented in the statement of financial performance and statement of financial position represents the information for the business segment. 18. Parent entity information Set out below is the supplementary information about the parent entity. Statement of profit or loss and other comprehensive income Parent 2020 2019 $ $ Loss after income tax (10,335,230) (1,359,781) Total comprehensive loss (10,335,230) (1,359,781) Statement of financial position Parent 2020 2019 $ $ Assets Current assets 5,046,116 3,500,452 Non-current assets (impairment to net worth of Nyrada Pty Ltd) 570,269 - Total assets 5,616,384 3,537,452 Liabilities Current liabilities - 3,930,351 Non-current liabilities 126,781 Total liabilities 126,781 3,930,351 Net assets 5,489,604 (392,889) Equity Issued capital 15,607,349 37,003 Reserves 2,204,324 1,519,937 Accumulated losses (12,322,065) (1,949,839) Total equity/ (deficiency) 5,489,604 (392,899)