50 INOVIQ Limited (c) A reconciliation of deferred income tax liability at the statutory income tax rate for the periods ended 30 June 2022 and 30 June 2021 is as follows: For the year ended 30 June 2022 $ For the year ended 30 June 2021 $ Deferred tax liability on intangible assets (2,830,197) (3,697,261) Deferred tax asset on losses brought to account 2,830,197 1,638,748 Per Statement of Financial Position – 2,058,513 7 CASH AND CASH EQUIVALENTS & CASH FLOW INFORMATION As at 30 June 2022 $ As at 30 June 2021 $ Cash at bank 374,097 977,814 Term deposits* 15,020,750 4,020,750 Cash and cash equivalents comprise cash at bank 15,394,847 4,998,564 * All have a term of three months or less from the date of commencement of the deposit. As at 30 June 2022 $ As at 30 June 2021 $ Net loss after income tax (18,195,977) (11,150,880) Income tax credit (2,058,513) (2,874,805) Impairment of intangible asset – hTERT 1,790,842 - Impairment of intangible asset – Molecular NETs - 4,431,828 Impairment of intangible asset – Goodwill on acquisition 11,030,560 2,889,219 Share based payments expense 264,619 685,397 Depreciation and amortisation 2,101,591 910,028 Lease liability interest 81,963 99,204 Unrealised foreign exchange (gain)/loss (98,884) 109,060 Changes in Assets & Liabilities: (Increase)/decrease in receivables (1,486,286) (198,192) (Increase)/decrease in inventories 34,076 (47,503) Increase/(decrease) in payables 284,109 (36,714) Increase/(decrease) in provisions 61,505 279,912 (Increase)/decrease in prepayments 30,235 (356,891) Net cash used in operating activities (6,160,160) (5,260,337) 6 INCOME TAX (CONTINUED) Notes to the Financial Statements for the year ended 30 June 2022
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