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Nyrada Inc - Annual Report 2025

Contents 3
Corporate Directory 4
Chair’s Letter 5
CEO Report 7
Directors’ Report 10
Directors 10
Company Secretary - David Franks 13
Principal activities 13
Significant changes in the state of affairs 14
Financial results 14
Review of operations 14
Financial summary 15
Liquidity and capital resources 15
Matters subsequent to the end of the financial year 15
Future developments, prospects, and business strategies 15
Environmental regulation 15
Directors’ shareholdings 16
Unissued Common Stock 16
Dividends 17
Indemnity and insurance of officers 18
Indemnity and insurance of auditor 18
Meetings of Directors 18
Proceedings on behalf of the Company 18
Non-audit services 19
Auditor's independence declaration 19
Presentation Currency 19
Jurisdiction of Incorporation 19
Corporate Governance Statement 19
Business Risks 19
(a) Uncertainty of clinical development 19
(b) Commercialisation 20
(c) Additional capital requirements 20
(d) Intellectual property rights 20
(e) Third party intellectual property infringement claims 21
(f) Risk of delay 21
Required statements 22
Remuneration report (audited) 23
Key Management Personnel 23
Remuneration Policy 23
Non-executive Director remuneration 24
Executive Director remuneration 24
Relationship between the remuneration policy and Consolidated Entity performance 25
Options Granted 26
Key terms of employment contracts 27
James Bonnar 27
Non-executive Directors 27
Key management personnel equity holdings 28
Shares of Nyrada Inc. 28
Options of Nyrada Inc. 29
Performance Shares 30
End of Remuneration report. 30
Auditor’s Independence Declaration 31
Independent Auditor’s Report 32
Consolidated statement of profit or loss and other comprehensive income 38
For the year ended 30 June 2025 38
Consolidated statement of financial position 39
As at 30 June 2025 39
Consolidated statement of changes in equity 40
For the Year Ended 30 June 2025 40
Consolidated statement of cash flows 41
For the year ended 30 June 2025 41
Notes to the consolidated financial statements 42
1. General information 42
2. Material accounting policy information 42
New or amended Accounting Standards and Interpretations adopted 42
Basis of preparation 42
Critical accounting estimates 42
Parent entity information 42
Revenue recognition 43
Interest 43
Government research and development tax incentives 43
Research and development expenditure 43
Share-based payments 43
3. Critical accounting judgements, estimates and assumptions 44
Government research and development tax incentives 44
Share-based payment transactions 44
Assessment of research and development expenditure not advancing to a stage of technical feasibility 45
4. Operating segments 45
5. Other income 45
6. Research and development grant revenue 45
7. Trade, other receivables and prepayments 46
8. Trade and other payables 46
9. Issued capital 47
Common stock 47
Performance Common Stock 48
Procedures for Conversion. 49
Restrictions on Transfer. 49
No Dividends or Distributions. 49
No Pre-emptive Rights. 49
Reorganisation. 50
Redemption. 50
10. Reserves 50
Share-based payments reserve 50
11. Dividends 50
12. Unrecognised carry-forward tax losses 50
13. Parent entity information 51
Statement of profit or loss and other comprehensive income 51
Statement of financial position 51
Guarantees entered into by the parent entity in relation to the debts of its subsidiaries 51
Contingent liabilities 51
Capital commitments - Property, plant and equipment 51
Material accounting policy information 51
14. Subsidiaries 52
15. Events after reporting period 52
16. Cash flow information 52
Reconciliation of loss after income tax to net cash used in operating activities 52
Reconciliation of Cash 52
17. Share-based payments 53
18. Loss per share 56
19. Key Management Personnel disclosures 56
Compensation 56
20. Related party transactions 56
Key Management Personnel 56
21. Commitments and contingencies 56
22. Financial instruments 57
Capital management 57
Categories of financial instruments 57
Financial risk management objectives 57
Liquidity risk management 58
23. Remuneration of auditors 58
24. Contingent liabilities 58
Consolidated Entity Disclosure Statement 59
Basis of preparation 59
Determination of tax residency 59
Australian tax residency 59
Foreign tax residency 59
Partnerships and Trusts 59
Directors’ Declaration 60
Shareholder Information 61
Corporate Governance Statement 61
CHESS Depositary Interests 61
Distribution of CDIs 61
Unmarketable parcels 61
Unlisted securities 61
Distribution of Unlisted Securities (> 20% holding)1 62
Voting rights 62
Required Statements 63
On-Market buy-back 63
Twenty (20) largest shareholders of quoted equity securities 63

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