Nyrada Inc Annual Report 2020

Annual Report FY20 45 Guarantees entered into by the parent entity in relation to the debts of its subsidiaries The parent entity had no guarantees in relation to the debts of its subsidiaries as at 30 June 2020. Contingent liabilities The parent entity had no contingent liabilities as at 30 June 2020 Capital commitments - Property, plant and equipment The parent entity had no capital commitments for property, plant and equipment as at 30 June 2020. Significant accounting policies The accounting policies of the parent entity are consistent with those of the consolidated entity, as disclosed in note 1, except for the following: • Investments in subsidiaries are accounted for at cost, less any impairment, in the parent entity. • Dividends received from subsidiaries are recognised as other income by the parent entity and its receipt may be an indicator of an impairment of the investment. 19. Subsidiaries 2020 2019 Nyrada Pty Ltd* 100% 100% Norbio No. 2 Pty Ltd 100% 100% Cardio Therapeutics Pty Ltd 100% 100% *On 13 March 2020 the company changed its name from Norbio No1 Pty Ltd to Nyrada Pty Ltd. 20. Events after reporting period On 22 July 2020 the Company received the Research and Development Tax incentive for the period ending 30 June 2019 of $1,075,414. No other matter or circumstance has arisen since 30 June 2020 that has significantly affected, or may significantly affect the consolidated entity's operations, the results of those operations, or the consolidated entity's state of affairs in future financial years.