R&D Tax Incentive, page-4

Here's my email to Imagion:

Dear Imagion

I am seeking information on the R&D Tax Incentive payment which Imagion has been receiving.

I understand that R&D conducted overseas will qualify for the R&D Tax Incentive if Innovation and Science Australia makes a Finding that the activities meet the conditions specified in section 28D of the Industry Research and Development Act 1986 (IR&D Act).

The criteria includes:

There must be a scientific link to an Australian core R&D activity

You need to show that:

• there is a link between your planned overseas activity and your eligible Australian core R&D activity
• you can’t complete the Australian core R&D activity without conducting the overseas activity.

I assume that Imagion's eligible Australian core R&D activity was the Phase 1 Clinical Trial, which I understand has now concluded.

If the above is correct, could you kindly set out any other eligible Australian core R&D activity that Imagion is, or will be, undertaking to ensure continued eligibility for payment of the R&D Tax Incentive.

I ask this question because I note that continued R&D tax incentive payments were included in item 8.1 of the company's Quarterly Activity Report for the Quarter ending 30 September, 2023. The calculation at Item 8.5 (which uses the figure at item 8.1) states that there will be 30.4 Quarters of funding available.

Regards