26 INOVIQ Limited SIGNIFICANT CHANGES IN THE STATE OF AFFAIRS Other than those outlined in this report there were no other significant changes in the state of affairs of the Company during the period. FINANCIAL POSITION The net assets of the Group at 30 June 2022 totalled $28,292,837 (2021: $29,056,730). Total assets at 30 June 2022 totalled $30,779,459 (2021: $33,521,700). The Group had cash and cash equivalents of $15,394,847 at 30 June 2022 (2021: $4,998,564). DIVIDENDS No dividend has been declared, provided for or paid in respect of the year ended 30 June 2022 or 30 June 2021. INDEMNIFICATION AND INSURANCE OF DIRECTORS AND OFFICERS The Company has insurance in place to indemnify directors of the Company against liability incurred to a third party (not being the Company or a related party) that may arise from their position as directors or officers of the Company. In accordance with subsection 300(9) of the Corporations Act 2001, further details have not been disclosed due to confidentiality provisions of the insurance contracts. INDEMNIFICATIONOF AUDITORS The Group has not, during or since the end of the financial year, indemnified or agreed to indemnify the auditor of the Group or any related entity against a liability incurred by the auditor. During the financial year, the Group has not paid a premium in respect of a contract to insure the auditor of the Group or any related entity. INTERESTS IN CONTRACTS OR PROPOSED CONTRACTSWITH THE COMPANY During the financial year, no director has had any interest in a contract or proposed contract with the Company being an interest the nature of which has been declared by the director in accordance with Section 300(11)(d) of the Corporations Act 2001 except for the contracts of the executive and non-executive directors which are disclosed in the remuneration report. DIRECTORS’ MEETINGS The following table sets out the number of meetings of the Company’s directors held during the year ending 30 June 2022 and the number of meetings attended by each director. Directors’ Meetings Audit Committee Remuneration Committee No. of meetings heldwhile in office Meetings attended No. of meetings heldwhile in office Meetings attended No. of meetings heldwhile in office Meetings attended Dr Geoffrey Cumming 14 14 - - 1 1 Mr Max Johnston 14 14 4 4 1 1 Mr Philip Powell 14 14 4 4 - - Professor Allan Cripps 14 14 4 4 1 1 Directors’ Report
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