From the Annual Report
FINANCIAL
The Company recognised a profit after tax of $3,142,951 (30 June 2020 – loss of $420,199).
The profit includes a fair value movement in financial assets of $3,017,879 (30 June 2020 – $1,004,744) which has been recognised in the Statement of Profit and Loss in relation to the Company’s 10% strategic equity interest in RTE.
The profit also includes the disposal of the Company’s equity investment in ToneDen, Inc. The Company received US$150,000 ($206,031) for the disposal of the investment which was recognised in the Statement of Profit and Loss and Other Comprehensive Income. Further, as a result of the disposal, US$150,000 ($206,031) of other payables recorded in the Company was de-recognised on disposal of its equity investment in ToneDen, Inc. This has been reflected as Other Income in the Statement of Profit or Loss and Other comprehensive Income.
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