Annual Report 
2021

Genetic Signatures Limited – Annual Report 2021
Our Vision & Purpose 
Genetic Signatures improves patient care and 
outcomes by developing innovative diagnostic 
technologies which simplify molecular pathology.
The Genetic Signatures' proprietary 3baseTM 
platform technology forms the cornerstone of our 
EasyScreen™ pathogen detection kits, and reduces 
the genetic complexity of infection detection in 
molecular testing.
Our tests enable hospital and pathology facilities to 
use standard equipment and procedures to screen 
more accurately for a wide range of infectious 
diseases (pathogens).
Results are delivered in hours, compared with days 
for traditional methods.
Timely and accurate diagnosis results in appropriate 
infection control measures that reduce costs and 
save lives. 
By minimising customers' workloads and 
maximising results, Genetic Signatures delivers 
value to both customers and shareholders while 
improving community health globally.
Chairman’s Letter........................... 4
CEO Report...................................... 6
Full Year Results Highlights........... 8
Commercialisation Update.......... 10
EasyScreenTM Kits........................ 14
Our People..................................... 16
SARS-CoV-2 Update..................... 18
Financial Report 2021.................. 20
Analysis of Shareholdings........... 70
Contents

3

Genetic Signatures Limited – Annual Report 2021
Dear fellow shareholder,
It is my pleasure to present the Genetic 
Signatures annual report for the year 
ended 30 June 2021.
Genetic Signatures has had another excellent year 
that delivered a dramatic increase in revenue and 
our first profitable full year in the company’s history. 
Excellent progress was made on a number of fronts 
across the product portfolio of molecular pathogen 
testing, over and above  tests for the SARS-CoV-2 
virus that causes COVID-19.
The COVID-19 pandemic remains an ongoing 
backdrop for the company and for the community in 
general. Amid renewed and challenging lockdowns, 
management has been able to ensure the continued 
supply of testing kits to our customers while 
keeping staff safe. All staff are proud of the role 
that Genetic Signatures has played in providing 
the diagnostic tools to help limit the spread of 
COVID-19. I personally would like to commend each 
member of the Genetic Signatures global team for 
their dedication in performing their unique role in 
ensuring the Company’s critically important tests 
have contributed to the safety of the community in 
the ongoing period of the COVID-19 pandemic.
Hopefully, increasing vaccination rates will help 
supress COVID-19. But with elimination of the SARS-
CoV-2 virus increasingly difficult to achieve in the 
short term, citizens globally are likely going to have to 
coexist with the disease in one way or the other and 
this would imply strong ongoing demand for regular 
streamlined testing.
To date, more than three million Genetic Signatures 
diagnostic tests of all types have been undertaken on 
patient samples. Based on our proprietary 3base™ 
technology and sold under the EasyScreen™ brand, 
these tests can detect groups of organisms – up to 
20 at a time – from the one patient sample.
While SARS-CoV-2 has been a contributor to the 
growth in revenue and overall financial performance, 
Genetic Signatures continues to focus on the 
development of its broader testing capabilities. 
Work continues on several new products that are 
at different stages of development, to supplement 
those products that have already received regulatory 
registrations in various global jurisdictions. This 
investment in R&D programs is targeting multiple 
new revenue opportunities. 
For example, European authorities registered the 
EasyScreen™ STI/Genital Pathogen Detection 
Kit during the year, which now brings to five 
Chairman’s Letter

5
EasyScreen™ detection kits available for sale in 
Europe and UK. An application to the Therapeutic 
Goods Administration (TGA) for STI kit registration 
was also lodged and is currently pending approval.
Additionally, clinical trials in the USA for the Enteric 
Protozoan test kit have continued to advance to 
support an application to the US FDA to be able to 
sell this product in the largest molecular diagnostics 
market in the world.
Overall, Genetic Signatures had made great strides 
since its ASX listing in March 2015. Sales have 
increased from $1.8m in the first year of listing to 
$28.3m this financial year, and as reported in July, a 
very strong start to FY2022 sets up your company for 
the year ahead. 
Perhaps not surprisingly, recent interest in - and 
understanding of - molecular diagnostics has 
increased markedly as a result of the SARS-CoV-2 
testing opportunities. 
I would like to recognise the outstanding 
commitment and stewardship of our Board. On 
the personnel front, we were delighted at the 
appointment of Dr Neil Gunn as a new director. 
Dr Gunn brings 30 years of medical device and 
diagnostics experience to the Company and most 
recently was President of Roche Sequencing 
Solutions (a business unit of Roche Diagnostics). 
A search is underway for additional Directors, 
to further strengthen our Board.
On behalf of the Genetic Signatures board, I wish 
to sincerely thank the management team and all 
employees for their excellent work amid difficult 
conditions. In particular the board acknowledges 
Dr John Melki’s outstanding ongoing leadership.
I would also like to thank shareholders for their 
ongoing support and look forward to updating the 
market on the next exciting chapters of the unfolding 
Genetic Signatures story.
Dr Nick Samaras
Chairman

CEO Report 
Genetic Signatures has made great 
progress amid the one-in-100-year 
healthcare crisis.  The pandemic has 
highlighted the need for rapid and effective 
diagnostic testing to ensure populations 
are kept as safe as possible by identifying 
those who need to isolate and who need 
appropriate treatment.
While the company’s recent successes have been 
strongly influenced by the SARS-CoV-2 testing 
applications, the pandemic has demonstrated to 
commercial laboratories the benefits of molecular 
PCR based testing methods that are easy to use, with 
minimal intervention required.  Genetic Signatures 
leveraged this interest to demonstrate the power 
of our 3base™ technology to medium and high 
throughput laboratories. 
The pandemic has opened the doors to high 
throughput laboratories overseas, introducing them 
to Genetic Signatures’ technology and empowering 
them to not only perform COVID-19 diagnosis but also 
introduce them to testing for other pathogens, be it 
respiratory, gastrointestinal, sexually transmitted 
infections or other infectious diseases.
Genetic Signatures’ core 3base™ technology can 
detect 20+ different pathogens at a time, from one 
patient sample, whilst maintaining high throughput 
screening. Replacing traditional methods, such as 
the old ‘sample on a slide’ lab methods which are 
still prevalent overseas, our tests reduce turnaround 
time from days to hours, allowing medications such 
as antibiotics to be more quickly dispensed, or for 
patients to enter isolation sooner.
On a financial note, the solid demand for our unique 
Australian diagnostic technology continued to 
drive our revenue, with a strong finish in the June 
quarter. Sales for the year increased by more than 
150 percent to $28.3m, and this momentum has 
continued into the new financial year.
Notably, we have quadrupled the number of Genetic 
Signatures branded instruments in the field over 
the last 18 months. This is very important, as once 
the device is incorporated into a lab’s workflow it is 
easier to cross-sell other tests to the customer. We 
also announced at the end of FY2021 our investment 
in our next generation instrument. This instrument 
will further reduce technician hands-on-time and 
dramatically decrease the time-to-result, whilst 
preserving the broad number of testing targets.
In light of the strong demand, Genetic Signatures 
invested in expanding manufacturing capacity 
through automation and increased staffing. We have 
now sold kits in all our major target markets of the 
US, Europe and Australia.
The US and Europe together account for 75 per cent 
of global testing for infectious diseases. Thus, they 
are our key markets and we continue to leverage the 
market access we have gained during the pandemic, 
with a view to enhancing customer knowledge of our 
entire product suite.
Meanwhile, trading in the current (first) quarter 
of FY2022 gives us confidence in the revenue 
momentum continuing. However, client order 
flows will be determined by the severity and 
location of further COVID-19 outbreaks, the 
take-up and ultimate effectiveness of vaccines, 
and different governments’ response to them.  
It is clear that symptomatic patients are now 
coming forward for testing more frequently than 
prior to the pandemic, and Genetic Signatures is 
well placed to provide the tests and throughput 
required by the testing laboratories. 
Dr John Melki
Managing Director and CEO
Genetic Signatures Limited – Annual Report 2021

7

Genetic Signatures Limited – Annual Report 2021
FY21 Sales per region
Full Year Results Highlights
Genetic Signatures finished the year with record 
revenue of $28.3m, 151% higher than FY2020 which 
was also a record. SARS-CoV-2 diagnostic kit sales 
drove the larger share of revenue though demand 
for enteric kits has returned to pre-pandemic levels. 
Instrument sales and reagent rentals were $1.5m for 
the year. The number of Genetic Signatures’ branded 
instruments in use has quadrupled since before the 
pandemic.
Overseas sales were 21% of overall revenue, up from 
10% the previous year. In $ terms this represents a 
six-fold increase in the contribution from Europe and 
USA to $6m. Europe saw multiple new sites added 
during the year while in the USA the Company’s 
first customers were recruited. SARS-CoV-2 testing 
volumes in both regions have declined from their 
peak in December 2020 attributable largely to 
successful vaccine programs. While testing is 
increasing again in the first quarter of FY2022 it is 
unclear if this will result in an increased number of 
PCR tests being performed.
Australia, representing the vast majority of current 
sales due to time in this market, increased revenue 
significantly and this momentum has continued into 
FY2022.
Revenue from operations ($m)
4-year CAGR = 93%
FY18
2.8
FY19
4.9
FY20
FY20
11.3
28.3
AMERICAS
6%
ASIA 
PACIFIC
79%
EMEA
15%

9
Genetic Signatures has reported its first full year 
Net Profit of $1.8m compared to a Net Loss of 
$2.1m in FY2020. Cost of materials increased in 
line with increased sales volumes though the gross 
profit on materials improved to 70% up from 67% 
in FY2020. Freight and warehousing are significant 
costs now from increased inventory levels and the 
higher proportion of shipments going overseas.
Expenses grew by $5.2m (43%) overall, driven 
primarily by growth in employee benefits expense, 
scientific consumables and depreciation & 
amortisation expense. Employee benefits reflects 
the appointment of additional people across 
the organisation but particularly in sales and 
production, but also includes share-based payments 
expense of $1.5m that is a non cash item. Scientific 
consumables comprises R&D expenditure and costs 
associated with clinical trials.
31.2
30.1
30.0
(28.7)
(4.7)
(0.3)
(0.3)
2.6
0.3
0.2
Op. bal
Customer receipts
Supplier payments
Other
R&D tax refund
Purchase of P&E
Purchase of Intangibles
Option exercise
Lease principal
CI. bal
FY21 financial highlights ($m)
Cash movements ($m)
Sales 
revenue
Cost of 
materials 
& freight
Other 
income
Other 
expenses 
(incl 
overhead)
Net profit
1.8
28.3
(9.8)
0.4
(17.2)
Cash balance at 30 June 2021 was $30.1m. 
Net operating cash inflows for the year were 
$4.2m. Gross outflows included investments 
in inventory which increased to $12.1m from 
$7.3m at 30 June 2020 to ensure that demand 
from customers could be met, and purchases 
of capital equipment for placement at customer 
sites or to expand the Group’s production 
capacity. The R&D tax refund will not be 
available as a cash item in future years due 
to sales exceeding the $20m threshold.

Genetic Signatures Limited – Annual Report 2021
Sales progress
Asia Pacific sales at at this stage primarily 
means Australia. This is Genetic Signatures’ 
home base and, as a consequence, the 
Company’s most mature market, Australia 
still accounts for the largest share of Genetic 
Signatures' sales globally. Australia has also 
been an early adopter of molecular testing 
methodologies, even though it only represents 
1-2 per cent of the global molecular diagnostics 
testing market.  
Sales were boosted by the recurrence of 
outbreaks of COVID-19 and the resultant 
lockdowns in NSW and Victoria, our two largest 
markets. Naturally, these outbreaks resulted 
in increased demand for rapid testing for 
SARS-CoV-2. 
During the year new sites across Australia were 
added to the portfolio including the acquisition 
of the first Queensland laboratory as a client.
Regulatory update 
In Australia, Genetic Signatures has four 
EasyScreen™ detection kits listed on the Australian 
Register of Therapeutic Goods (ARTG) - SARS-
CoV-2, respiratory, enteric and antimicrobial 
resistance (ESBL/CPO). The company has also 
lodged an application for its EasyScreen™ STI/
Genital Pathogen Detection kit - registration has 
been delayed by COVID-19 but is anticipated soon.
Asia Pacific 
Regions Commercialisation Update

11
North America 
Sales progress
The USA remains the largest molecular 
diagnostics market globally so is a focus for 
Genetic Signatures. The Group acquired its first 
customers in USA during the financial year for 
SARS-CoV-2 testing and this contributed $1.6m 
in revenue. Overall, COVID-19 testing volumes in 
the USA have reduced from their peak in Dec 2020 
which impacted the Company's volumes in the 4th 
quarter. North America also includes Canada, and 
we were pleased to announce the appointment of 
Somagen Diagnostics as a distributor.
Somagen Diagnostics is a leading provider of 
innovative technologies over the past 25 years 
committed to providing patient focused clinical 
diagnostic solutions across Canada.
Genetic Signatures identified that testing for 
Enteric Protozoa (parasites) is an underserved 
market in the USA, and this offers a significant 
opportunity for molecular tests using our 3base™ 
technology to greatly enhance this testing 
capability. There are an estimated 5.5 million tests 
done per annum and achieving a 40% market 
share could generate up to US$88m per annum for 
Genetic Signatures.
Regulatory update 
To gain access to the Enteric Protozoan testing 
market Genetic Signatures needs to secure US Food 
and Drug Administration (510k) clearance for its 
EasyScreen™ diagnostics kit. 
A key component of the application is provision of 
clinical data from 3 US trial sites and a minimum 
1,500 samples. Sites have been selected and data 
collection is underway, though access to “live” 
samples has been hampered by delays due to the 
pandemic. The first site has almost completed its 
data collection, the second site is in progress, and 
the last site has been initiated and is ready to start. 
The company is still confident that a submission will 
be lodged by the end of the year, however this will 
depend on patient recruitment numbers.
Market analysis is also being undertaken to 
determine the next products to pursue FDA 
clearance.
Regions Commercialisation Update

Genetic Signatures Limited – Annual Report 2021
Sales progress
This region was responsible for 15% of the Group’s 
revenue in FY2021, up from 10% in FY2020 and 
an impressive four-fold increase in dollar terms. 
A number of new customer sites were established 
using SARS-CoV-2 test kits, and encouragingly, 
discussions are now underway with some of these, 
and others, about adopting additional tests into 
their testing portfolios. 
Part of the transformative effect of FY21 is that the 
COVID-19 pandemic has led to Genetic Signatures 
securing its first consistent customers in Europe, 
leading to sales levels that are almost 27 times 
what they were just two years ago. 
Regulatory update 
In January the company was granted CE-IVD for the 
EasyScreen™ STI/Genital Pathogen Kit, allowing the 
Company to market this product to all 28 European 
Union member countries plus the UK. Globally the 
STI testing market is estimated to be $1.9bn pa.
This is the 5th diagnostic kit that has achieved 
CE-IVD registration.
GSS Representation
EMEA Europe, Middle East and Africa 
nted distributors  
Direct presence 
Direct and appointed distributors 
Appointed distributors  
Regions Commercialisation Update

13

Genetic Signatures Limited – Annual Report 2021
Tick-Borne 
Disease 
Ticks are a species that can transmit a large number 
of infectious agents to humans due to their lifecycle. 
TBD is caused by various species of bacteria, virus 
and protozoa, which are carried by ticks. Perhaps 
the most well-known is Lyme disease which is 
endemic world-wide. Other diseases include 
Rocky Mountain spotted fever, typhus, Colorado 
tick fever, anaplasmosis, tularemia, ehrlichiosis 
and tick-borne encephalitis. Many TBDs cause 
chronic debilitating diseases that are resistant to 
therapies and are the cause of significant morbidity 
worldwide. Very few molecular methods for the 
diagnosis of TBD exist thus Genetic Signatures’ has 
embarked on a new program to design an entirely 
novel way to identify all agents of TBD rapidly and 
sensitively from clinical samples to help diagnose 
these neglected pathogens.
There are currently 9 product groupings 
at different stages of development, 
including 4 that are registered for sale in 
at least 1 major jurisdiction. Registered 
products still require continued review 
and enhancements to ensure they are 
best in class diagnostic kits.
Recently Genetic Signatures advised 3 
new product groups for which tests are 
being developed in addition to the Flavi/
Alpha viruses and Meningitis tests that 
have been spoken of before. These are 
Measles/Mumps/Rubella, Tick-borne 
infections, and Dermatophytes. 
Measles/
Mumps/Rubella 
Measles, Mumps and Rubella (MMR) are highly 
contagious viral diseases in which symptoms 
usually develop 10-18 days after exposure to an 
infected person and last 7-14 days. Although all 
three diseases are vaccine preventable, recently 
there has been a resurgence of disease due to 
declining vaccine uptake. In 2017 over 110,000 
people died from measles alone. Genetic Signatures 
has been asked by several hospitals if it was 
possible for us to produce a rapid multiplexed MMR 
assay, which we have developed. The next stage of 
this process will be clinical assessment.
Expanding Range 
of EasyScreen™ Kits

15
Next Generation 
Instrument 
While GSS diagnostic kits are generally platform 
agnostic (i.e. can be used on most commercially 
available instruments), we currently offer four 
different GSS branded instruments that have been 
customised to improve processing efficiency while 
maintaining throughput. These instruments are 
either sold to customers or are provided under a 
reagent rental arrangement. 
One of our strategic objectives was the commitment 
to developing a next generation “sample to result” 
instrument that will be optimised for 3base™. Funds 
raised in October 2019 were partly dedicated to 
this project. Work has commenced on this project 
and several suitable partners have been engaged. 
Through the market research conducted, especially 
learning from the COVID-19 pandemic, there are 
key attributes the market wants to address. It gives 
GSS a great opportunity to tailor solutions based 
on market needs. This is an exciting project of 
significant importance for the long-term success of 
the Company.
Dermatophytes 
Dermatophytes cause infections of the skin, hair 
and nails. A well-known example of these fungal 
skin infections is ringworm or tinea. Fungal growth 
is usually restricted to the nonliving layer of the 
skin or nails because of their inability to penetrate 
viable tissue in healthy people. Infection may 
become chronic and widespread if the host is 
immunocompromised. When invasion occurs it 
elicits a host immune response that can range from 
mild to severe. Due to the unique 3base™ extraction 
technology we believe our method will be superior, 
quicker and have broader coverage than other 
currently available commercial products.

Genetic Signatures Limited – Annual Report 2021
Our people
A large reason for the success of Genetic Signatures, 
in conjunction with its technology, is its people. 
The Company has a growing team of dedicated and 
highly capable individuals around the world who 
ensure that the products are suited for purpose, 
that our customers are supplied and supported to 
the best of our ability, and that Genetic Signatures 
meets all its regulatory and ESG obligations. 
Investment in people, particularly into the Sales 
and Production teams over the last 18 months has 
allowed the Company to meet the extra demands 
that COVID-19 has imposed. Total staff numbers are 
now approximately 30% higher than pre-pandemic.
The value of diversity in the workforce is also 
recognised, and the Group can boast an even split 
of personnel between male and female, plus people 
from many different cultural backgrounds.

17
Staff allocation by function
Staff allocation by function
SALES
33%
R&D/VALIDATION
30%
PRODUCTION
/QC
19%
ADMIN & 
SUPPORT
18%
Female
Male
0%
20%
40%
60%
80%
Sales
R&D/Val
Production/QC
Admin

Genetic Signatures Limited – Annual Report 2021
The coronavirus pandemic began in China 
in late 2019 (COVID-19) and is caused by 
the severe acute respiratory corona virus 
2 (SARS-CoV-2).
Scientists have been studying the coronavirus 
family, single stranded RNA viruses, for some time, 
including MERS, SARS and the seasonal respiratory 
coronaviruses, in an attempt to understand their 
potential to cause a global pandemic.
By January 2020 scientists in China and then France 
rapidly sequenced and shared the entire SARS-
CoV-2 genome.  
Genetic Signatures moved quickly to use its 3base™ 
technology to develop a rapid, accurate, low-cost 
diagnostic test for the presence of SARS-CoV-2 
Genetic tools are also key to 
understanding how people respond to and 
how we can potentially treat COVID-19 
infections. The genetic makeup of each 
person contributes to their susceptibility 
and response to the virus along with 
other factors like underlying health.
Since March 2020 research teams have studied 
the genomes of more than 100,000 people with 
COVID-19 trying to find genes that might indicate 
who is susceptible to severe disease2.
A dozen or so genetic variants have strong 
statistical association with severe COVID-19 3. 
Studies of common and rare mutations are helping 
us to understand the biological mechanisms of 
disease and what drugs to test including those that 
boost natural antiviral defences.
genes. Genetic Signatures’ EasyScreen™ SARS-
CoV-2 Detection Kit uses a polymerase chain 
reaction (PCR) test, which remains a ‘gold standard’ 
for SARS-CoV-2 detection. EasyScreen™ detection 
kits can be readily used with a range of front-end 
sampling approaches and back-end diagnostic 
(pathology) laboratories. Over the past year 
Genetic Signatures achieved significant domestic 
and international registrations and sales of its 
EasyScreen™ SARS-CoV-2 Detection Kit.
Detecting SARS-CoV-2 will remain critical to 
understanding and managing the pandemic, which 
has an uncertain duration and severity1. 
This is particularly key to understanding who is 
susceptible to and mechanisms underlying ‘long-
Covid’ in order to continue to develop treatments.
There remains a particular need to study the 
genomes of non-European populations to more 
fully understand and address how COVID-19 is 
impacting populations across the world.
Viral infections have the ability to alter the 
epigenetic code and leave imprints in the human 
genome. Genetic Signatures is investigating how 
it can use its 3base™ technology platform to 
detect certain genetic markers as an indicator of 
severe COVID-19. 
Detecting SARS-CoV-2 
Understanding COVID-19 Risks and Treatments
SARS-CoV-2 Update
The COVID Virus

19
RNA viruses typically have high mutation 
rates.  While SARS-CoV-2 has a notable 
ability to ‘proofread’ its transcriptions, 
epidemiologists estimate it still has a 
mutation rate of 2 mutations per month 
or about half that of influenza4. 
Mutations are essentially mistakes in the genetic 
sequence when the RNA replicates. The number 
of mutations with potential negative impacts on 
people will increase with each wave of infection.  
Genomic epidemiology uses genomic sequence 
data to study and model disease transmission and 
population dynamics including how mutations arise 
and spread.  
As the pandemic progressed, scientists have named 
and mapped key variations of the SARS-CoV-2 
genome, like the Delta strain, to understand how it 
is being transmitted and spread at a local and global 
level. By March 2021 nearly a million SARS-CoV-2 
genomic sequences had been shared globally5.
Some mutations have the potential to increase 
transmissibility, infectiousness and/or virulence 
and to make vaccines less effective.  
Ultimately global suppression of the pandemic 
is required to minimise mutations and further 
outbreaks.  We have a shared interest in 
suppressing the virus in every country. We therefore 
need to increase our ability to undertake quality 
global genomic surveillance for SARS-CoV-2 and 
potentially other respiratory pathogens. 
Genetic Signatures 3base™ technology enables real 
time, accurate, high volume and low-cost diagnosis 
needed to continue to understand and manage 
COVID-19 outbreaks across all countries including 
those with low testing capability. While Genetic 
Signatures have chosen to use gold-standard PCR 
for EasyScreen™ detection kits, and have developed 
efficient workflows on Genetic Signatures branded 
instruments, the technology remains compatible 
with all nucleic acid detection technology, and 
can be “open platform” or suitable to be run on 
equipment already present in testing laboratories.  
Genetic Signatures’ front-line assays can detect 
Delta and all other known new variants of SARS-
CoV-2. Genetic Signatures is developing assays to 
identify specific strains of concern, such as the 
Delta variant.
Through unprecedented global collaboration and 
investment, effective vaccines for SARS-CoV-2 
have been developed in less than a year. With 
new messenger RNA (mRNA) vaccines, synthetic 
mRNA encodes a protein that activates the immune 
system.  As mRNA vaccines are safe, inexpensive 
and can be scaled up, they will help us develop 
boosters to counter new COVID-19 variants. 
With the roll out of vaccines, governments are 
trialling differing COVID-19 testing strategies.  
However, the need to monitor and respond to 
COVID-19 outbreaks including new strains will 
continue, with such monitoring becoming an 
on-going part of all health systems as COVID-19 
becomes an endemic disease akin to the 
management of seasonal flu.
1 	https://www.nationalgeographic.com/science/article/how-will-the-pandemic-
end-the-science-of-past-outbreaks-offers-clues
2 	https://www.nature.com/articles/d41586-021-01827-w
3 	Nature https://doi.org/10.1038/s41586-021-03767-x (2021). 
4 	https://www.nature.com/articles/d41586-020-02544-6
5 	https://www.gisaid.org
Identifying and Mapping 
Strains of SARS-CoV-2

Directors’ Report ...............................................................22
Remuneration Report........................................................28
Financial Report
	
Consolidated Statement of Profit or Loss 
and other Comprehensive Income...........................36
	
Consolidated Statement of 
Financial Position .....................................................37
	
Consolidated Statement of Changes in Equity ......38
	
Consolidated Statement of Cash Flows .................39
	
Notes to the Financial Statements  ........................40
Directors’ Declaration .......................................................64
Auditors Declaration .........................................................65
Independent Audit Report ................................................66
Analysis of Holdings .........................................................70
Shareholders Information ................................................71
Contents
For the financial year 
ended 30 June 2021
Genetic Signatures Limited – Annual Report 2021

21
Financial Report 2021

Genetic Signatures Limited – Annual Report 2021
Directors’ Report
The directors present their report, together with the financial statements, on the company and its controlled 
entities for the year ended 30 June 2021. This will hereafter be referred to as company, consolidated entity 
or group. 
 
DIRECTORS 
The following persons were directors of the company during the whole of the financial year and up to the  
date of this report, unless otherwise stated: 
 
Nickolaos Samaras 
John R Melki 
Michael A Aicher 
Anthony J Radford 
Neil Gunn (appointed 6 April 2021) 
 
 
PRINCIPAL ACTIVITIES 
 
The principal activities of the Company during the financial year were the research and commercialisation 
of identifying individual genetic signatures to aid in the diagnosis of infectious diseases and the sale of 
associated products into the diagnostic and research marketplaces. There have been no significant 
changes in these activities during the year. 
 
REVIEW OF OPERATIONS 
Genetic Signatures has had an exceptional year in which Company revenues have grown materially during 
FY21, largely due to demand for the EasyScreen™ SARS-CoV-2 Detection Kit globally. The Group 
successfully established itself in Europe and USA with supply agreements signed with new customers in 
both regions. 
 
In the financial year ending 30 June 2021, Genetic Signatures’ revenue was $28,284,000 representing a 
151% increase over the previous year. This revenue growth was driven by demand for EasyScreen™ 
SARS-CoV-2 Detection Kit and has resulted in a quadrupling of instruments in use versus pre-pandemic 
placements. Encouragingly, the proportion of sales to overseas customers rose to 21% of total sales, up 
from 10% in FY21, in line with Company strategy to pursue the large regions of Europe and USA that 
together represent ~75% of all molecular testing. 
 
Revenue from operations ($m) 
 
 
Genetic Signatures posted a maiden full year net profit of $1,756,000 compared to a net loss of $2,086,000 
in FY20.  
 
 
10.2
22.2
1.1
6.0
FY18
FY19
FY20
FY21
APAC
International
2.8
4.9
28.3
11.3

23
Gross margins on materials were 70%, a 3% improvement over the previous year.  Freight and 
warehousing costs now represent a significant cost due to increased volumes generally plus overseas 
shipments. Margins should continue and possibly improve in future as the proportion of international sales 
rises. Employee benefits expense were up 50% vs. prior corresponding period to $10,024,000 as additional 
personnel were added to the teams in Europe, USA and locally across all functions. This expense line also 
includes share-based payments expense of $1,484,000, a non-cash item. Scientific consumables also 
increased over 50% over prior year, reflecting the work on continuing and new R&D projects, and clinical 
trial costs for the US FDA Enteric Protozoan submission. Depreciation and amortisation expenses were 
also up as a result of significant growth in fixed assets, primarily instruments to place at customer sites but 
also automation of manufacturing processes. 
Cash balance was $30,121,000 at 30 June 2021. The Group has reported net operating cash inflows for 
the year of $4,195,000 which includes collections from customers of $30,031,000.  Offsetting this were 
$4,653,000 investments in instrumentation for use at customer sites, and machinery for production. 
Inventory balances are higher than 30 June 2020, though are declining as the increased purchases made 
during the year to meet customer demand is now being used. Genetic Signatures is well capitalised to 
make investments in future growth opportunities. 
Commercialisation Progress by Market 
Australia  
Genetic Signatures’ home market continues to represent an important share of revenue contribution to the 
Group. Sales were boosted late in the year as SARS-CoV-2 kit deliveries increased to meet demand 
caused by the surge testing in NSW and Victoria. The Company started supplying a number of new sites 
in Australia during the year and has recently secured its first site in Queensland. 
Research and development activity continued through the year on current and newly announced projects 
which include a next generation “sample to result” instrument optimised for 3base™ assays that Genetic 
Signatures believes will give real competitive advantage to the Group. Other new infectious diseases 
identified as opportunities are for measles/mumps/rubella due to falling vaccine rates globally, tick-borne 
diseases, and dermatophytes which are fungal infections. 
Europe 
Europe (European Union and United Kingdom) represents ~35% of global molecular diagnostics market1. 
Sales increased four-fold over FY20 to $4.4m. All sales were COVID-19 related, though discussions are 
underway with customers regarding adoption of other tests including the expanded Respiratory assays and 
the Enteric range. Genetic Signatures now has five products registered for sale under CE-IVD: SARS-CoV-
2, Respiratory, Enteric, Anti-Microbial Resistance, and Sexually Transmitted Infections (STI) which 
achieved its registration during the financial year.  
North America 
This is the largest market opportunity globally, and the US accounts for an estimated 40% of worldwide 
molecular PCR testing revenue1. First routine sales were achieved in the region this financial year with a 
contribution of $1.6m in SARS-CoV-2 kits and related equipment. Testing volumes have decreased from 
their peak in December 2020 due to the concerted vaccination program through USA, though infection rates 
appear to be increasing again. It is not apparent whether this will result in an increase in the number of 
PCR tests performed. 
FDA clearance for the Enteric Protozoan Detection Kit is a major plank in the Group’s strategy to expand 
Genetic Signatures’ markets, and the Company is targeting up to 40% market share within 5 years of 
clearance being granted, generating potential revenue of up to US$88m per annum. Clinical trials are being 
conducted at three US sites to accompany the FDA application. These trials have been slower than hoped 
with data collection being hampered by COVID related restrictions, such as sample collection and 
availability of laboratories. One of the three sites is nearing completion of their sample testing though, while 
the other sites are at the early stages. Genetic Signatures is still hopeful that its 510k application will be 
submitted to FDA by the end of 2021. 
 
 
 
1 World Market for Molecular Diagnostics, 5th. Edition (Infectious Disease, Oncology, Blood Screening, Pre-Natal 
and Other Areas) Kalorama Information, Published: 1/9/2013 & company estimates 
for the financial year ended 
30 June 2021

Genetic Signatures Limited – Annual Report 2021
Directors’ Report
Looking Forward 
Genetic Signatures plans to continue to consolidate its gains through FY2022 and beyond, particularly in 
international markets. The new financial year has started strongly, with the Group announcing sales of $4m 
in July from testing due to outbreaks globally, but particularly in Australia. Whilst COVID-19 has been an 
opportunity, the focus is on expanding the range of EasyScreen™ tests that current and new customers 
use day to day. 
The keys to future success for Genetic Signatures are: 
• Focus on long term customer contracts and customer satisfaction. Ensuring that customers are 
receiving both high performance products and a reliable service allows repeat business and a secure 
future. 
• Leverage COVID-19 to promote new tests to new and existing customers. SARS-CoV-2 has introduced 
many laboratories to the benefits of both molecular PCR testing generally but also the 3base™ 
advantages, particularly for multiplex screening. The introduction of new tests using the same platforms 
and workflow is relatively simple. 
• Further product development. Continue to leverage the 3base™ technology to increase the number of 
pathogens that can be tested. 
If these can be achieved Genetic Signatures has a bright future. 
 
 
STATE OF AFFAIRS 
There have been no significant changes in the state of affairs of the Group during the year.  
 
DIVIDENDS 
 
No dividends were paid or were payable during the year (2020: NIL). 
 
EVENTS SUBSEQUENT TO THE REPORTING DATE  
 
The impact of the Coronavirus (COVID-19) pandemic is ongoing and while it has been financially positive 
for the consolidated entity up to 30 June 2021, it is not practicable to estimate the potential impact, positive 
or negative, after the reporting date. The situation is rapidly developing and is dependent on measures 
imposed by authorities in countries where Genetic Signatures supplies test kits, such as speed and 
effectiveness of vaccine rollout, maintaining social distancing requirements, quarantine, travel restrictions 
and any economic stimulus that may be provided. 
 
Other than the above, there has not arisen in the interval between the end of the financial year and the 
date of this report any other item, transaction or event of a material and unusual nature likely in the opinion 
of the directors of the Company to affect significantly the operations of the Company, the results of those 
operations or the state of affairs of the Company in future financial years. 
      
LIKELY FUTURE DEVELOPMENTS 
 
Likely developments in the operations of the Company and the expected results of those operations in future 
financial years have not been included in this report as the inclusion of such information is likely to result in 
unreasonable prejudice to the Company. 
 
ENVIRONMENTAL COMPLIANCE 
 
The Company’s operations are not regulated by any significant environmental regulation under a law of the 
Commonwealth or of a State or Territory.

25
 
DIRECTORS 
 
Name: 
Nickolaos Samaras 
Qualifications: 
BSc (Hons), PhD, MBA, FAIM, FAICD 
Experience: 
Dr. Samaras has had over 30 years’ business experience in the global 
Life Sciences industry and is a recognised and respected industry 
expert. He has held a number of senior executive level positions in 
management, marketing, sales, and research and development. His 
roles have included appointments as Managing Director of Applied 
Biosystems Pty Ltd (now part of Thermo Fisher), and senior roles with 
Perkin Elmer and AMRAD Corporation (now part of CSL). 
Dr. Samaras is an experienced executive, non-executive and Board 
Chairman, having served on the boards of several biotechnology 
companies including one that was ASX-listed. For the past 16 years 
Dr. Samaras has focused his efforts on facilitating the international 
market expansion of a number of US biotechnology companies and 
developing commercial revenue channels outside of their traditional 
onshore markets.  
Dr. Samaras holds a BSc with Honours in Pathology and Immunology 
from Monash University and a PhD from the Department of Medicine 
at The University of Melbourne. He also holds postgraduate business 
qualifications which include an MBA from the School of Management 
at RMIT University and is a Fellow of the Australian Institute of 
Company Directors. 
 
Special responsibilities: 
Non-Executive Chairman; Chairman Nomination and Remuneration 
Committee; Chairman Audit & Risk Committee 
 
 
Directorships of other listed  
companies: 
Nil 
Interests in shares and options: 2,024,016 ordinary shares 
 
  
  
 
Name: 
John R Melki  
Qualifications: 
BSc (Hons), PhD 
Experience: 
Dr. Melki has led the commercialisation efforts of Genetic Signatures 
as Chief Executive Officer since 2011. Dr. Melki originally joined 
Genetic Signatures in 2003 where he was responsible for leading the 
commercialisation of two research products (worldwide) and five 
diagnostic products (locally and Europe) in the role of Senior Principal 
Research Scientist. He has authored over 20 peer-reviewed articles 
and is listed as an inventor on eight patent applications. Dr. Melki 
received his BSc from the University of New South Wales and his PhD 
from the University of Sydney, where his thesis was awarded the Peter 
Bancroft Prize from the Medical School. His primary research focus 
was in the sodium bisulphite conversion of DNA which is at the core of 
Genetic Signatures’ 3base™ technology. 
 
Special responsibilities: 
Managing Director and Chief Executive Officer 
 
 
Directorships of other listed 
companies: 
Nil 
Interests in shares and options: 1,096,000 ordinary shares, 
550,000 options over ordinary shares 
 
 
 
for the financial year ended 
30 June 2021

Genetic Signatures Limited – Annual Report 2021
Directors’ Report
 
Name: 
Anthony J Radford AO FTSE 
Qualifications: 
BSc (Hons) PhD DipCorpMan 
Experience: 
Dr. Anthony Radford has a PhD from La Trobe University, and was a 
member of the CSIRO team that invented the QuantiFERON method 
for Cellular Immune based diagnostics.  He later joined AMRAD in 
pharmaceutical research and was Head of Development in 2000 when 
he left to co-found the diagnostic company Cellestis Limited, which 
listed on the ASX in 2001.  Establishing offices and operations in the 
USA, Europe and Japan, Cellestis developed QuantiFERON –TB 
Gold, the worldwide benchmark for diagnosis of tuberculosis infection.  
Dr. Radford was CEO of Cellestis from founding until its acquisition by 
QIAGEN NV in 2011. He is a Fellow of the Australian Academy of 
Technology and Engineering, and a recipient of their Clunies Ross 
Prize. 
 
Special responsibilities: 
Non-Executive; Member of Audit & Risk Committee and Nomination & 
Remuneration Committee 
 
 
Directorships of other listed 
companies: 
Nil 
Interests in shares and options: 240,000 ordinary shares 
 
 
Name: 
Neil Gunn (appointed 6 April 2021) 
Qualifications: 
BSc, Msc, PhD 
Experience: 
Dr Gunn holds a PhD and Master of Science from Portsmouth 
Polytechnic, UK. He has over 30 years’ experience in medical devices 
and diagnostics. Most recently he was the President of Roche 
Sequencing Solutions where he oversaw all aspects of the business 
and managed a team of approximately 900 people. His team developed 
and launched more than 20 products per year. Prior to this he was Vice 
President of Roche’s Molecular Diagnostics business and was 
responsible for over 120 diagnostic product launches principally into 
the IVD clinical market. 
Dr Gunn is based in San Francisco, USA. 
 
Special responsibilities: 
None 
 
 
Directorships of other listed 
companies: 
Nil  
Interests in shares and options: Nil

27
 
 
  
Name: 
Michael A Aicher 
Qualifications: 
BSc, MBA 
Experience: 
Mr. Aicher has over 30 years of industry experience and was CEO and 
founder of National Genetics Institute (NGI) which was acquired 
by Laboratory Corporation of America, Inc. (LabCorp) in 2000. Mr. 
Aicher led LabCorp’s Esoteric Business Units, which generated more 
than $1 billion in annual revenue. Prior to NGI, Mr. Aicher served in a 
number of executive leadership roles at Central Diagnostics 
Laboratory. He currently serves as a director on boards of Alveo 
Technologies, Techcyte and CytoBay. He is certified by the University 
of California at Berkeley as a Global Biotechnology Executive and is a 
recipient of Ernst & Young’s “Entrepreneur of the Year” award for 
emerging technologies. Mr. Aicher received a BS in Business 
Administration from the University of Redlands and an MBA in 
Economics from Columbus University. 
 
Special responsibilities: 
Executive Director – US Operations 
 
 
Directorships of other listed 
companies: 
Nil 
Interests in shares and options: 645,785 ordinary shares 
 
Company Secretary 
Name: 
 
Peter Manley 
 
Experience: 
Peter Manley was appointed Company Secretary of Genetic 
Signatures in March 2019. Peter is an experienced company secretary 
who also holds the position of Chief Financial Officer.  Previous roles 
include CFO & Company Secretary for listed life sciences companies 
AtCor Medical Holdings Limited (now Cardiex Ltd) and Sirtex Medical 
Ltd. 
 
 
 
DIRECTORS’ MEETINGS 
 
The number of meetings of the board of directors (including board committees) held during the year 
ended 30 June 2021, and the numbers of meetings attended by each director are set out below: 
 
 
 
Board 
Audit & Risk 
Committee 
Nomination &  
Remuneration Committee 
Name 
Held 
Attended 
Held 
Attended 
Held 
Attended 
Nickolaos Samaras 
8 
8 
2 
2 
2 
2 
John R Melki  
8 
8 
- 
- 
- 
- 
Anthony J Radford 
8 
7 
2 
2 
2 
2 
Michael A Aicher 
8 
8 
- 
- 
- 
- 
Neil Gunn 
(appt. April 2021) 
2 
2 
- 
- 
- 
- 
 
 
 
for the financial year ended 
30 June 2021

Genetic Signatures Limited – Annual Report 2021
 
OPTIONS 
There were 4,360,000 unissued ordinary shares of the company under option outstanding at the date of 
this report. During the financial year 1,715,000 new options were issued, 296,250 were exercised, and 
337,500 were forfeited. 
 
INDEMNIFICATION OF OFFICERS AND AUDITORS 
 
Genetic Signatures Ltd paid an insurance premium during the financial year, for Directors’ & Officers 
Liability insurance cover. 
 
No person has applied for leave of court to bring proceedings on behalf of the company or intervene in any 
proceedings to which the company is a party for the purpose of taking responsibility on behalf of the 
company for all or any part if those proceedings. 
 
The company’s operations are not regulated by any significant environmental regulation under a law of the 
Commonwealth or of a state or territory. 
 
PROCEEDINGS ON BEHALF OF THE COMPANY 
No person has applied to the Court under section 237 of the Corporations Act 2001 for leave to bring 
proceedings on behalf of the company, or to intervene in any proceedings to which the company is a party 
for the purpose of taking responsibility on behalf of the company for all or part of those proceedings. 
NON-AUDIT SERVICES 
 
 
 
 
During the financial year, the following fees for non-audit services were paid or payable to the auditor, 
BDO or their related practices: 
 
 
 
 
2021  
2020
 
 
 
 
$  
$ 
Tax compliance services  
 
27,345 
15,700
Other non-audit services 
 
- 
11,500 
Total fees for non-audit services 
 
 
27,345 
27,200 
On the advice of the Audit and Risk Committee, the directors are satisfied that the provision of non-
audit services by the auditor, as set out above, did not compromise the auditor independence 
requirements of the Corporations Act 2001 for the following reasons: 
• 
All non-audit services have been reviewed by the Audit and Risk Committee to ensure that 
they do not impact the integrity and objectivity of the auditor; and  
• 
None of the non-audit services undermine the general principles relating to auditor 
independence as set out in APES 110 Code of Ethics for Professional Accountants. 
Directors’ Report
AUDITOR’S INDEPENDENCE DECLARATION 
A copy of the auditor’s independence declaration as required under section 307C of the Corporations 
Act 2001 is set out on page 65. 
 
Rounding of Amounts 
The company is of a kind referred to in ASIC Legislative Instrument 2016/191, relating to the ‘rounding 
off’ of amounts. Amounts in this report have been rounded off in accordance with the instrument to the 
nearest thousand dollars, or in certain cases, to the nearest dollar. 
This report is made in accordance with a resolution of directors. 
 
 
 
  
John Melki 
Director 
 
 
 
 
 
 
 
 
  
Sydney 
 
 
 
 
 
 
 
 
 
  
25 August 2021

29

Genetic Signatures Limited – Annual Report 2021
Remuneration Report
REMUNERATION REPORT - AUDITED 
 
The remuneration report is set out under the following main headings: 
 
1. Remuneration principles and key management personnel 
2. Non-executive director remuneration 
3. Executive remuneration 
4. Equity disclosures 
5. Employment agreements 
 
The information provided includes remuneration disclosures that are required under AASB 124 – Related 
Party Disclosures. These disclosures have been transferred from the financial report and have been 
audited. 
 
1 
REMUNERATION PRINCIPLES AND KEY MANAGEMENT PERSONNEL 
1.1 
Policy for determining the nature and amount of key management personnel remuneration 
 
The Board’s remuneration policy determines the nature and amount of remuneration for Board members 
and senior executives of the Company. The policy, setting the terms and conditions for the Executive 
Directors and other senior executives, was developed by the Remuneration & Nomination Committee and 
approved by the Board. The Board ensures that the Company’s remuneration levels are appropriate in the 
markets in which it operates and are applied, and seen to be applied, fairly.  
 
Non-executive directors 
Fees and payments to non-executive directors reflect the demands which are made on, and the 
responsibilities of, the directors. Non-executive directors’ fees and payments are reviewed with reference 
to market rates for comparable companies. The chairman’s fees are determined independently to the fees 
of non-executive directors. The Chairman is not present at any discussions relating to determination of his 
own remuneration. Non-executive directors are entitled to receive share options, following approval by the 
shareholders of Genetic Signatures Limited. 
 
Non-executive directors’ fees are captured within an aggregate directors’ pool limit, which is periodically 
recommended for approval by shareholders. The pool stands at $450,000 excluding share-based 
payments which are subject to separate shareholder approval. This was increased from $250,000 at the 
last AGM in November 2020. 
 
Executive directors and senior executives 
The objective of the Group’s executive reward framework is to ensure reward for performance is 
competitive and appropriate for the results delivered. The framework aligns executive reward with 
achievement of strategic objectives, and the creation of value for shareholders. The Board ensures that 
executive reward satisfies the following key criteria. 
Alignment to company and shareholders’ interests: 
• 
Has company growth as a core component of plan design 
• 
Focuses on sustained long-term growth in shareholder wealth 
• 
Attracts and retains high calibre executives 
• 
Total remuneration is comparable to market standards. 
Alignment to program participants’ interests: 
• 
Rewards capability and experience 
• 
Reflects competitive reward for contribution to growth in company value 
• 
Provides a clear structure for earning rewards 
• 
Provides recognition for contribution. 
The framework provides a mix of fixed and variable pay, and a blend of short and long-term incentives.

31
1.2 
Key management personnel 
2.1 
Directors’ Fees
 
The following persons were key management personnel of Genetic Signatures Limited during the financial 
year: 
Non-executive directors 
Dr Nickolaos Samaras - Chairman 
Dr Anthony J Radford AO 
Dr Neil Gunn (appointed 6 April 2021) 
 
Executive directors 
Dr John R Melki - Managing Director & Chief Executive Officer 
Michael A Aicher - Executive Director, US Operations 
Other executives 
Peter L Manley - Chief Financial Officer/Company Secretary 
 
2 
NON-EXECUTIVE DIRECTOR REMUNERATION
 
The current remuneration was increased for Directors in recognition of business growth and resulting extra 
time and commitment from Non-executive Directors. Fees are inclusive of committee fees. 
 
Board fees per annum 
Chairman 
$108,000 
Non-executive director (Australian based) 
$60,000 
Non-executive director (overseas) 
60,000   (USD, EUR or GBP depending on location) 
 
Superannuation 
Superannuation contributions for Australian-based non-executive directors are in addition to the Board fees 
and are calculated at a rate of 9.5% of the base fee, as required under the statutory superannuation 
guarantee. Directors may elect to salary sacrifice additional payments to their fund. 
Share-based payments 
Non-executive directors are not entitled to any performance related remuneration but may receive option 
or equity grants if approved by shareholders. 
 
2.2 
Non-executive director remuneration 
for the financial year ended 
30 June 2021
 
Non-executive directors 
Year 
Cash salary 
and fees 
Super- 
annuation 
Share-based 
payments 
Total 
 
 
$ 
$ 
$ 
$ 
Nickolaos Samaras 
2021 
96,000 
9,120 
- 
105,120 
 
2020 
60,000 
5,700 
- 
65,700 
Anthony J Radford  
2021 
56,250 
5,344 
- 
61,594 
 
2020 
45,000 
4,275 
1,553 
50,828 
Neil Gunn 
2021 
19,479 
- 
- 
19,479 
 
2020 
- 
- 
- 
- 
Total 
2021 
171,729 
14,464 
- 
186,193 
 
2020 
105,000 
9,975 
1,553 
116,528

Genetic Signatures Limited – Annual Report 2021
3 
EXECUTIVE REMUNERATION 
The executive pay and reward framework has four components: 
• 
Base pay and benefits 
• 
Other remuneration such as superannuation 
• 
Short-term performance incentives, and 
• 
Long-term incentives through participation in the Genetic Signatures Employee Incentive Plan 
The combination of these comprises the executive’s total remuneration. 
Base pay 
Structured as a total employment cost package which may be delivered as a combination of cash and 
prescribed non-financial benefits at the executive’s discretion. 
Executives are offered a market competitive base pay that comprises the fixed component of pay and 
rewards. Base pay for executive directors and senior executives is reviewed annually to ensure the 
executive’s pay is aligned with the market. An executive’s pay is also reviewed on promotion. 
There are no guaranteed base pay increases included in any executives’ contracts. 
Benefits 
Executives may receive benefits including parking, car allowances or health insurance. 
Retirement Benefits 
Statutory superannuation payments are made to a fund selected by Australian based executives. 
Executives may also elect to salary sacrifice additional payments to their fund. No other retirement benefits 
are offered. 
Short term incentives 
Each executive may have a target short-term incentive (STI) opportunity depending on the accountabilities 
of the role and impact on the organisation or business unit performance. 
Each year the remuneration committee considers the appropriate financial targets and KPI’s to link the STI 
plan and the level of payout if targets are met. This includes setting any maximum payout under the STI 
plan, and minimum levels of performance to trigger payment of STI. 
For the year ended 30 June 2021, the KPI’s linked to STI plans were based on group, individual and 
personal objectives. The KPI’s required performance growing sales revenue, with particular emphasis on 
progress in overseas markets. 
The remuneration committee is responsible for assessing whether KPI’s are met. To help make this 
assessment, the committee receives detailed reports on performance from management. 
The short-term bonus payments may be adjusted up or down in line with under or over achievement against 
the target performance levels. This is at the discretion of the remuneration committee. 
Long term incentives 
Genetic Signatures Equity Incentive Plan (EIP) 
Options are issued to executives (including the CEO) with the aim of aligning executive interests with those 
of shareholders. The proportion of long-term incentives increases with the level of seniority of the executive. 
Options are granted under the EIP. The Plan is open to those employees and Directors whom the Directors 
believe have a significant role to play in the continued development of the Group’s activities. 
Options are granted under the Plan for no consideration. They are granted for a 15-year period, and 25% 
of each new tranche vests and is exercisable after each of the first four anniversaries of the date of the 
grant. 350,000 options were issued in 2021 to key management personnel as at the date of this report. 
Relationship between Remuneration Policy and Company Performance 
The remuneration policy has been tailored to align shareholders, directors and executives’ goals. Two 
methods have been applied to achieve this aim, the first being a performance-based bonus based on KPIs, 
and the second being the issue of options to directors, executives and staff to encourage the alignment of 
personal and shareholder interests.  
The following table shows the gross revenue, profits and dividends for the last five years for the 
consolidated entity, as well as the share prices at the end of the respective financial years. Analysis of the 
actual figures show a history of ongoing losses as the consolidated entity continue to develop new products, 
commercialise its existing products and develop new markets and customers. 
Remuneration Report

33
The Board is of the opinion that these results can be attributed, in part, to the previously described 
remuneration policy and is satisfied with the results over the past five years. 
 
 
2021 
2020 
2019 
2018 
2017 
 
$ 
$ 
$ 
$ 
$ 
Revenue 
28,284 
11,263 
4,866 
2,840 
2,038 
Net profit/(loss) attributable to 
owners of the parent entity 
1,756 
(2,086) 
(3,492) 
(3,254) 
 
(2,671) 
 
Share price at year end 
1.10 
2.15 
1.35 
0.37 
0.395 
Dividends paid (cents per share) 
- 
- 
- 
- 
- 
 
Voting and Comments made at the Company’s 2020 Annual General Meeting (‘AGM’) 
The Company received 99.9% of “for” votes in relation to its remuneration report for the year ended 30 June 
2020. No issues were raised with Directors concerning the Report. 
 
3.1 
Executive director remuneration 
 
 
 
Fixed 
remuneration 
 
Variable 
remuneration 
 
 
 
Year 
Cash  
salary and 
fees 
Non- 
monetary 
benefits 
Super- 
annuation 
Long-term 
benefits:  
Annual 
and long 
service 
leave 
Subtotal 
 
Short term 
incentive2 
Share-
based 
payments3 
 
Total 
 
$ 
$ 
$ 
$ 
$ 
 
$ 
$ 
 
$ 
John R Melki 
CEO 
2021 
354,736 
1,964 
25,000 
28,818 
410,518 
72,490 
141,742  
624,750 
2020 
308,137 
16,320 
25,047 
27,351 
376,855 
148,070 
38,902  
563,827 
Michael A Aicher1 
Executive Director 
2021 
161,552 
- 
- 
- 
161,552 
- 
-  
161,552 
2020 
178,097 
- 
- 
- 
178,907 
- 
-  
178,907 
Peter L Manley 
CFO 
2021 
227,264 
- 
24,485 
18,623 
270,372 
15,000 
124,606  
409,978 
2020 
220,636 
- 
22,778 
18,051 
261,465 
45,000 
95,981  
402,446 
Total 
2021 
743,552 
1,964 
49,485 
47,441 
842,442 
87,490 
266,348  
1,196,280 
2020 
707,680 
16,320 
47,825 
45,402 
817,227 
193,070 
134,883  
1,145,180 
 
 
 
 
Remuneration proportions 
 
Year 
Fixed 
At risk STI 
At risk LTI 
 
 
% 
% 
% 
John R Melki 
CEO 
2021 
65% 
12% 
23% 
2020 
67% 
26% 
7% 
Michael A Aicher1 
Executive Director 
2021 
100% 
0% 
0% 
2020 
100% 
0% 
0% 
Peter L Manley 
CFO 
2021 
66% 
4% 
30% 
2020 
65% 
11% 
24% 
 
1 
M Aicher is paid in USD. Changes in base pay are attributable to the stronger AUD against the USD through 
FY21 (Ave rate FY21: 0.7428, FY20: 0.6707). 
2 
Cash bonus is the amount paid or payable for the respective financial year. 
3 
This represents the proportional fair value of options on issue not yet vested or vested during the reporting period. 
Options are valued using a Black-Scholes model as described in Note 18 to the accounts. 
 
 
for the financial year ended 
30 June 2021

Genetic Signatures Limited – Annual Report 2021
Short term incentives 
 
 
STI potential 
Percentage of base 
Paid 
Forfeited 
 
$ 
% 
% 
% 
J.R. Melki 
108,000 
30 
72 
28 
M.A. Aicher 
- 
 
 
 
P.L. Manley* 
- 
 
 
 
 
* Bonus payable to P Manley is 100% at discretion of the Board 
 
 
4 
EQUITY DISCLOSURES 
4.1 
Key Management Personnel Share Movements 
Details of equity instruments (other than employee share ownership plan restricted shares) held directly, 
indirectly or beneficially by key management personnel are as follows: 
 
Name 
Balance at 
1 July 2020 
Granted as 
compensation 
Received on  
conversion of  
restricted shares 
Other 
changes 
Balance at 
30 June 
2021 
Balance 
held 
nominally 
N. Samaras 
2,024,016 
- 
- 
- 
2,024,016 
1,393,000 
J.R Melki  
1,096,000 
- 
- 
- 
1,096,000 
1,096,000 
M.A Aicher 
645,785 
- 
- 
- 
645,785 
645,785 
A.J Radford 
240,000 
- 
- 
- 
240,000 
240,000 
N Gunn 
- 
- 
- 
- 
- 
- 
P.L Manley 
20,408 
- 
- 
- 
20,408 
20,408 
Total 
4,026,209 
- 
- 
- 
4,026,209 
3,395,193 
 
 
Employee Incentive Plan 
 
 
Balance at 
1 July 2020 
Granted during the 
year 
Exercised 
during the 
year 
Forfeited 
during the 
year 
Balance at 30 
June 2021 
Unvested 
at 30 
June 
2021 
 
No. 
Value1 
$ 
No. 
Value1 
$ 
No. 
Value2 
$ 
No. 
Value2 
$ 
No. 
Value1 
$ 
No. 
J.R Melki 
300,000 
132,523 
250,000 385,910 
- 
- 
- 
- 
550,000 518,429 
350,000 
P.L Manley 
200,000 
195,389 
100,000 177,437 
- 
- 
- 
- 
300,000 372,825 
200,000 
 
 
1 
This represents the total value of the options over the life of the options from grant date using a Black-
Scholes valuation method. The amount is allocated against remuneration over the vesting period (total 
allocation vests in 4 equal tranches from the 1st anniversary of the issue date). 
2 
Value equals the difference between the exercise price and the closing share price per the ASX on the 
date of exercise/forfeiture multiplied by the number of options 
 
5 
EMPLOYMENT AGREEMENTS 
Service contracts have been entered into by the Company with key management personnel, describing the 
components and amounts of remuneration applicable on their initial appointment, including terms and 
performance criteria for performance-related cash bonuses. These contracts do not fix the amount of 
remuneration increases from year to year. Remuneration levels are reviewed generally each year by the 
Remuneration Committee to align with changes in job responsibilities and market salary expectations. All 
contracts are for an ongoing period. 
All contracts can be terminated by either party with 3 months’ notice (or one month in the case of Michael 
Aicher), subject to termination payments as described below: 
 
Remuneration Report

35
for the financial year ended 
30 June 2021
John Melki 
 
 
 
 
 
 
Director & Chief Executive Officer 
Contract term: 
 Ongoing, commenced November 2014 
 
Base salary: 
 $360,000, exclusive of superannuation, to be reviewed annually by 
the Remuneration Committee. 
Termination payments: 
Payment on early termination by the Group, other than for gross 
misconduct, equal to the base salary plus superannuation 
entitlements for three months. 
 
 
Michael Aicher 
 
 
 
 
 
 
Executive Director – US Operations 
Contract term: 
 Ongoing, commenced April 2014 
 
Base salary: 
 $US120,000, to be reviewed annually by the Remuneration 
Committee. 
Termination payments: 
No payment on early termination. Contract is terminable by either 
party on one months’ notice. 
 
 
 
 
 
 
 
Peter Manley 
Chief Financial Officer 
 
 
 
 
 
 
Contract term: 
 Ongoing, commenced October 2018 
 
Base salary: 
 $232,635 exclusive of superannuation, to be reviewed annually by 
the Remuneration Committee. 
Termination payments: 
Payment on early termination by the Group, other than for gross 
misconduct, equal to the base salary plus superannuation for three 
months. 
 
 
This concludes the remuneration report which has been audited.

Genetic Signatures Limited – Annual Report 2021
Financial Report
 
 
 
 
Consolidated 
 
Note 
2021 
$’000s 
 
2020 
$’000s 
 
 
 
 
 
Sales Revenue  
2 
28,284 
 
11,263 
 
 
 
 
 
Other income 
4 
435 
 
2,910 
 
 
 
 
 
Cost of materials used 
 
(8,486) 
 
(3,739) 
Freight on materials & finished goods 
 
(1,318) 
 
(566) 
Employee benefits expense 
 
(10,024) 
 
(6,671) 
Directors’ and consultancy fees 
 
(399) 
 
(443) 
Depreciation and amortisation expenses 
 
(1,425) 
 
(883) 
Finance costs 
5 
(36) 
 
(33) 
Scientific consumables 
 
(2,761) 
 
(1,769) 
Travel and accommodation 
 
(262) 
 
(327) 
Other expenses 
 
(2,252) 
 
(1,828) 
 
 
 
 
 
Profit/(loss) before income tax 
 
1,756 
 
(2,086) 
 
 
 
 
 
Income tax benefit  
6 
- 
 
- 
 
 
 
 
 
Profit/(loss)  attributable to members of the entity 
 
1,756 
 
(2,086) 
 
 
 
 
 
Other comprehensive income/(loss) 
Items that maybe reclassified subsequently to 
profit or loss: 
 
Foreign Currency translation of foreign operations 
 
20 
 
(111) 
 
 
 
 
 
Total comprehensive income/(loss) for the year, 
net of tax 
 
1,776 
 
(2,197) 
 
 
 
 
 
 
 
 
 
 
Earnings (loss) per share  
 
2021 
cents 
 
2020 
cents 
 
 
 
 
 
Basic Earnings/(loss) per share to ordinary equity 
holders of the company 
29 
1.23 
 
(1.64) 
Diluted Earnings/(loss) per share to ordinary equity 
holders of the company 
29 
1.21 
 
(1.64) 
 
 
 
 
 
 
 
 
The above Consolidated Statement of Profit or Loss and Other Comprehensive Income should be 
read in conjunction with the accompanying notes
Consolidated Statement of 
Profit or Loss and Other 
Comprehensive Income

37
Consolidated Statement of 
Financial Position
 
 
 
 
Consolidated 
 
Note 
2021 
$’000s 
 
2020 
$’000s 
 
Assets 
 
 
 
 
Current Assets 
 
 
 
 
Cash and cash equivalents 
7 
30,121 
 
31,176 
Trade and other receivables 
8 
5,373 
 
5,223 
Inventory 
9 
12,134 
 
7,252 
Government grant receivable 
10 
- 
 
2,554 
Total Current Assets 
 
47,628 
 
46,205 
 
Non-Current Assets 
 
 
 
 
Property, plant and equipment 
11 
5,659 
 
2,675 
Intangible assets  
 
371 
 
101 
Right of use assets - leases 
12 
389 
 
734 
Total Non-Current Assets 
 
6,419 
 
3,510 
 
 
 
 
 
Total Assets 
 
54,047 
 
49,715 
 
 
 
 
 
Liabilities 
 
 
 
 
Current Liabilities 
 
 
 
 
Trade and other payables 
13 
3,352 
 
2,368 
Lease liabilities 
12 
334 
 
313 
Provisions 
14 
938 
 
657 
Total Current Liabilities 
 
4,624 
 
3,338 
 
Non-Current Liabilities 
 
 
 
 
Lease liabilities 
12 
65 
 
428 
Provisions 
14 
18 
 
20 
Total Non-Current Liabilities 
 
83 
 
448 
 
Total Liabilities 
 
 
4,707 
 
 
3,786 
 
 
 
 
 
Net Assets 
 
49,340 
 
45,929 
 
Equity 
 
 
 
 
Issued capital 
15 
84,164 
 
84,013 
Reserves 
16 
3,334 
 
1,830 
Accumulated losses 
 
(38,158) 
 
(39,914) 
 
 
 
 
 
Total Equity 
 
49,340 
 
45,929 
 
 
 
 
 
The above Consolidated statement of financial position should be read in conjunction with the 
accompanying notes

Genetic Signatures Limited – Annual Report 2021
Consolidated Statement of 
Changes in Equity
 
Consolidated 
 
 
 
Issued 
Capital 
Share based 
payments 
reserve 
Foreign 
currency 
translation   
reserve 
Accumulated 
losses 
Total 
 
 
$’000s 
$’000s 
$’000s 
$’000s 
$’000s 
 
 
 
 
 
 
 
Balance at 1 July 2019 
 
47,028 
1,413 
(44) 
(37,828) 
10,569 
Loss attributable to members of 
the entity 
 
- 
- 
- 
(2,086) 
(2,086) 
Other comprehensive 
income/(loss) 
 
- 
- 
(111) 
- 
(111) 
Total comprehensive 
income/(loss) for the year 
 
- 
- 
(111) 
(2,086) 
(2,197) 
Transactions with owners in 
their capacity as owners: 
 
 
 
 
 
 
Contributions of equity, net of 
transaction costs (note 15) 
 
35,608 
- 
- 
- 
35,608 
Repayment of loans against 
shares (note 15) 
 
1,234 
- 
- 
- 
1,234 
Share issues on conversion of 
options 
 
143 
- 
- 
- 
143 
Forfeiture of share-based 
payments (note 16) 
 
- 
(59) 
- 
- 
(59) 
Share-based payments 
(note 16) 
 
- 
631 
- 
- 
631 
Balance at 30 June 2020 
 
84,013 
1,985 
(155) 
(39,914) 
45,929 
Profit attributable to members of 
the entity 
 
- 
- 
- 
1,756 
1,756 
Other comprehensive 
income/(loss) 
 
- 
- 
20 
- 
20 
Total comprehensive 
income/(loss) for the year 
 
- 
- 
20 
1,756 
1,776 
Transactions with owners in 
their capacity as owners: 
 
 
 
 
 
 
Share issues on conversion of 
options, net of costs (note 15) 
 
151 
- 
- 
- 
151 
Forfeiture of share-based 
payments (note 16) 
 
- 
(235) 
- 
- 
(235) 
Share-based payments 
(note 16) 
 
- 
1,719 
- 
- 
1,719 
Balance at 30 June 2021 
 
84,164 
3,469 
(135) 
(38,158) 
49,340 
 
 
 
 
 
 
 
 
 
The above consolidated statement of changes in equity should be read in conjunction with the 
accompanying notes 
Financial Report

39
Consolidated Statement 
of Cash Flows
 
 
 
Consolidated 
 Note 
2021 
 
2020 
 
 
$’000s 
 
$’000s 
 
 
 
 
 
Cash flows from operating activities 
 
 
 
 
Receipts from customers (inclusive of GST) 
 
30,031 
 
8,882 
Payments to suppliers and employees inclusive 
of GST) 
 
(28,680) 
 
(20,619) 
Interest and other income received 
 
326 
 
129 
Lease costs (interest) 
12 
(36) 
 
(33) 
Research and development concession received 
 
2,554 
 
2,147 
Net cash provided by/(used in) operating 
activities  
25(b) 
 
4,195 
 
 
(9,494) 
 
 
 
 
 
Cash flows from investing activities 
 
 
 
 
Purchase of plant and equipment 
11 
(4,653) 
 
(2,275) 
Purchase of intangible assets 
 
(326) 
 
(75) 
Net cash used in investing activities 
 
(4,979) 
 
(2,350) 
 
 
 
 
 
Cash flows from financing activities 
 
 
 
 
Proceeds from issue of shares, net of costs 
15 
- 
 
37,500 
Proceeds from conversion of employee share 
ownership plan restricted shares 
15 
- 
 
1,234 
Proceeds from exercise of options 
15 
163 
 
143 
Share issue costs 
15 
(12) 
 
(1,892) 
Lease costs (principal) 
 
(341) 
 
(299) 
Net cash (used in)/provided by financing 
activities 
 
 
(190) 
 
 
36,686 
 
 
 
 
 
Net (decrease)/increase in cash and cash 
equivalents  
 
(974) 
 
24,842 
 
 
 
 
 
Cash and cash equivalents at beginning of 
financial year 
 
31,176  
6,312 
Exchange differences on cash and cash 
equivalents 
 
 
(81) 
 
 
22 
Cash and equivalents at end of financial year 
25(a) 
30,121 
 
31,176 
 
 
 
 
 
 
 
 
 
 
 
The above consolidated statement of cash flows should be read in conjunction with the 
accompanying notes

Genetic Signatures Limited – Annual Report 2021
Note 1: Statement of Significant Accounting policies 
The principal accounting policies adopted in the preparation of the financial statements are set out 
below. These policies have been consistently applied to all the years presented, unless otherwise 
stated. 
Basis of preparation 
These general-purpose financial statements have been prepared in accordance with Australian 
Accounting Standards and Interpretations issued by the Australian Accounting Standards Board 
('AASB') and the Corporations Act 2001, as appropriate for for-profit oriented entities. These financial 
statements also comply with International Financial Reporting Standards as issued by the 
International Accounting Standards Board ('IASB'). The Company has adopted all the amendments 
to Australian Accounting Standards issued by the Australian Accounting Standards Board, which are 
relevant to and effective for the Company’s financial statements for the financial year beginning 1 
July 2020.  There was no material impact on the financial statements from the adoption of these new 
accounting standards. 
The financial report has been prepared on an accrual basis and is based on historical costs, modified, 
where applicable by the measurement at fair value of selected non-current assets, financial assets 
and financial liabilities. 
The preparation of the financial statements requires the use of certain critical accounting estimates. It 
also requires management to exercise its judgement in the process of applying the company's 
accounting policies. The areas involving a higher degree of judgement or complexity, or areas where 
assumptions and estimates are significant to the financial statements are disclosed in note 1(v). 
(a) 
Basis of Consolidation 
The consolidated financial statements comprise the financial statements of Genetic Signatures 
Limited and its subsidiaries, Genetic Signatures US Ltd and Genetic Signatures UK Ltd. 
Subsidiaries are entities (including structured entities) over which the group has control. The 
group has control over an entity when the group is exposed to, or has rights to, variable returns 
from its involvement with the entity, and has the ability to use its power to affect those returns. 
Subsidiaries are consolidated from the date on which control is transferred to the group and 
are deconsolidated from the date that control ceases. 
All intercompany balances and transactions, including unrealised profits arising from intragroup 
transactions have been eliminated. Unrealised losses are also eliminated unless the 
transaction provides evidence of the impairment of the asset transferred. 
(b) 
Income tax 
The income tax expenses/(benefit) for the year comprise current income tax expense/(benefit) 
and deferred tax expenses/(benefit).  
Current income tax expenses charged to the profit or loss is the tax payable on taxable income 
calculated using applicable income tax rates enacted, or substantially enacted, as at the end 
of the reporting period. Current tax liabilities/assets are therefore measured at the amounts 
expected to be paid to /recovered from the relevant taxation authority. 
Deferred income tax expense reflects movements in deferred tax asset and deferred tax liability 
balances during the year as well as unused tax losses.  
Deferred tax assets and liabilities are calculated at the tax rates that are expected to apply to 
the period when the asset is realised or the liability settled, based on tax rates enacted or 
substantively enacted at reporting date. Their measurement also reflects the manner in which 
management expects to recover or settle the carrying amount of the related asset or liability. 
Deferred tax assets relating to temporary differences and unused tax losses are recognised 
only to the extent that it is probable that future taxable profit will be available against which the 
benefits of the deferred tax asset can be utilised.  
 
 
Financial Report

41
Notes to the Financial Statements for the 
financial year ended 30 June 2021
Note 1: Statement of Significant Accounting Policies (continued) 
Where temporary differences exist in relation to investment in subsidiaries, branches, 
associates, and joint ventures, deferred tax assets and liabilities are not recognised where the 
timing of the reversal of the temporary difference can be controlled and it is not probable that 
the reversal will occur in the foreseeable future 
Current tax assets and liabilities are offset where a legally enforceable right of set-off exists 
and it is intended that net settlement or simultaneous realisation and settlement of the 
respective asset and liability will occur. Deferred tax assets and liabilities are offset where a 
legally enforceable right of set-off exists, the deferred tax assets and liabilities relate to income 
taxes levied by the same taxation authority on either the same taxable entity or different taxable 
entities where it is intended that net settlement or simultaneous realisation and settlement of 
the respective asset and liability will occur in future periods in which significant amounts of 
deferred tax assets or liabilities are expected to be recovered or settled.  
(c) 
Property, plant and equipment 
Each class of plant and equipment is carried at cost or fair value as indicated less, where 
applicable, any accumulated depreciation and impairment losses. 
Plant and equipment are measured on the cost basis less depreciation and impairment losses. 
The carrying amount of plant and equipment is reviewed annually by directors of the company 
to ensure it is not in excess of the recoverable amount from those assets.  The recoverable 
amount is assessed on the basis of the expected net cash flows which will be received from 
the assets employed and subsequent to disposal.  The expected net cash flows have been 
discounted to their present values in determining recoverable amounts. 
Subsequent costs are included in the asset’s carrying amount or recognised as a separate 
asset, as appropriate, only when it is probable that future economic benefits associated with 
the item will flow to the company and the cost of the item can be measured reliably. All other 
repairs and maintenance expenses are charged to the income statements during the financial 
period in which are incurred. 
Depreciation 
The depreciable amount of all fixed assets is depreciated on a straight-line basis over their 
estimated useful lives to the company commencing from the time the asset is held ready for 
use. 
The depreciation rates used for each class of depreciable asset are: 
 Class of fixed asset 
 
 
Depreciation period 
 
 
 Plant and equipment 
 
 
1-10 years 
The assets residual values and useful lives are reviewed and adjusted if appropriate at each 
reporting date. 
Gains and losses on disposal are determined by comparing the net proceeds with the carrying 
amount prior to disposal. Any gains or losses are included in the statement of profit or loss and 
comprehensive income.

Genetic Signatures Limited – Annual Report 2021
Note 1: Statement of Significant Accounting Policies (continued) 
(d) 
Goods and Services Tax 
Revenues, expenses and assets are recognised net of GST, except where the amount of GST 
incurred is not recoverable from the Australian Taxation Office (ATO). 
Receivables and payables are stated inclusive of the amount of GST receivable or payable. 
The net amount of GST recoverable from, or payable to, the ATO is included within other 
receivables or payables in the statements of financial position. 
Cash flows are presented on a gross basis, except for the GST component of investing and 
financing activities which are recoverable from, or payable to ATO are disclosed as operating 
cash flows.  
(e) 
Financial instruments 
Classification 
The Group classifies financial assets as either: 
• 
Those to be measured subsequently at fair value; or 
• 
Those to be measured at amortised cost. 
The classification depends on the entity’s business model for managing the financial assets 
and the contractual terms of the cash flows. For assets measured at fair value, gains and losses 
will be either recorded in profit & loss or other comprehensive income. 
Recognition and derecognition 
Purchases and sales of financial assets are recognised on the date the Group commits to 
purchase or sell the asset. Financial assets are derecognised when the rights to receive cash 
flows from the financial assets have expired or have been transferred and the Group has 
transferred substantially all the risks and rewards of ownership. 
Measurement 
At initial recognition, the group measures a financial asset at its fair value plus, in the case of 
a financial asset not at fair value through profit or loss (FVPL), transaction costs that are directly 
attributable to the acquisition of the financial asset. Transaction costs of financial assets carried 
at FVPL are expensed in profit or loss. 
(i) 
Loans and receivables 
Loans and receivables are assets held for collection of contractual cashflows where those 
cashflows represent payment of principal and interest measured at amortised cost. 
Loans and receivables are included in current assets, except for those which are not expected 
to mature within 12 months after the end of the reporting period, which will be classified as 
non-current assets.  
Any interest income from these financial assets is included in finance income using the effective 
interest rate method. 
(ii) 
Financial liabilities 
Non-derivative financial liabilities (excluding financial guarantees) are subsequently measured 
at amortised cost. 
 
Financial Report

43
Note 1: Statement of Significant Accounting Policies (continued) 
(iii) 
Equity instruments 
The group subsequently measures all equity investments at fair value. Changes in the fair 
value of financial assets are recognised in other gains/(losses) in the statement of profit or loss 
as applicable. Impairment losses (and reversal of impairment losses) on equity investments 
are not reported separately from other changes in fair value. 
The Group does not currently hold any equity investments. 
Fair Value  
Fair value is determined based on current bid prices for all quoted investments. Valuation 
techniques are applied to determine the fair value for all unlisted securities, including recent 
arm’s length transactions, reference to similar instruments and option pricing models. 
Impairment 
At the end of each reporting period, the Group assesses whether there is objective evidence 
that a financial instrument has been impaired. The impairment methodology applied depends 
on whether there has been a significant increase in credit risk.  
The Group applies the AASB9 simplified approach to measuring expected credit losses which 
uses a lifetime expected loss allowance for all trade receivables and contract assets. These 
assumptions include recent sales, historical collection rates and forward looking information, 
including consideration for the potential impact of the ongoing COVID-19 pandemic. 
(f) 
Revenue recognition 
Revenue from the sale of goods is recognised when control of the goods has passed to the 
buyer which usually occurs on delivery. This revenue is classified into 3 categories, being: 
Sale of Goods – Reagents and Consumables 
The Group manufactures and sells test kits for use in pathology laboratories. It also purchases 
disposable items for resale that are used by the pathology laboratories in conjunction with the 
test kits. Sales are recognised when control of the products has transferred, being the point in 
time when the products are delivered to the customer’s specified location, the amount of 
revenue can be measured reliably, and it is probable that payment will be received by the 
Group. 
Sale of Goods – Equipment and rental 
The consolidated entity provides equipment to customers if required which may be as an 
outright sale or be a placement under a lease arrangement. Where the equipment is sold the 
sale is recognised when control of the products has transferred, being the point in time when 
the products are delivered to the customer’s specified location, the amount of revenue can be 
measured reliably, and it is probable that payment will be received by the Group. In the event 
the Group enters a lease, an assessment will be made as to the classification of that lease. A 
lease will be classified as a finance lease if it transfers substantially all of the risks and rewards 
associated with the underlying asset. Otherwise the lease will be classified as an operating 
lease. Where the lease meets the definition of a finance lease revenue is recognised by 
applying the interest rate within the lease arrangement to the future lease payments and the 
estimated value of any unguaranteed end of term earnings or secondary income. Operating 
lease income will be recognised as income over time per the terms of the agreement with the 
customer, which may be as a cost per test or a periodic rental value.   
 
 
Notes to the Financial Statements for the 
financial year ended 30 June 2021

Genetic Signatures Limited – Annual Report 2021
Note 1: Statement of Significant Accounting Policies (continued) 
Sale of Goods – Service 
If a customer has purchased or is using Group owned equipment there may be a service charge 
levied to maintain the equipment. Revenue is recognised over time in the period that the service 
is rendered. 
Interest revenue is recognised on a proportional basis taking into account the interest rates 
applicable to the financial assets. 
All revenue is stated net of the amount of goods and services tax (GST). 
Grant revenue is recognised when it is received or when the right to receive payment is 
established. 
(g) 
Trade and other payables 
Accounts payable represent the principal amounts outstanding at the reporting date plus, 
where applicable, any accrued interest. 
(h) 
Impairment 
At each reporting date, the company assesses whether there is any indication that an asset 
may be impaired. The assessment will include the consideration of external and internal 
sources of information including dividends from subsidiaries, associates or jointly controlled 
entities deemed to be out of pre-acquisition profits. If such an indication exists, an impairment 
test is carried out on the asset by comparing the recoverable amount of the asset, being the 
higher of the asset's fair value less costs to sell and value in use, to the asset's carrying value. 
Any excess of the asset's carrying value over its recoverable amount is expensed to the 
statement of profit or loss and other comprehensive income. 
Where it is not possible to estimate the recoverable amount of an individual asset, the company 
estimates the recoverable amount of the cash-generating unit to which the asset belongs. 
(i) 
Cash and cash equivalents 
For the purposes of the statement of cash flows, cash includes cash on hand and at call 
deposits with banks or financial institutions and net of bank overdrafts. 
(j) 
Inventories 
Inventories include raw materials, work in progress and all items available for resale, including 
equipment (defined in 1(f)) and goods in transit.  
Inventories are measured at the lower of cost and net realisable value. Cost comprises direct 
materials, direct labour and an appropriate portion of variable and fixed overheads, the latter 
being allocated on the basis of normal operation capacity.  
Net realisable value is the estimated selling price in the ordinary course of business less the 
estimated costs of completion and the estimated costs necessary to make the sale. 
(k) 
Trade and other receivables 
Trade receivables are initially recognized at fair value and subsequently measured at 
amortised cost using the effective interest method, less any provision for impairment. Trade 
receivables are generally due for settlement within 30 days. 
The Group applies the AASB9 simplified approach to measuring expected credit losses which 
uses a lifetime expected loss allowance for all trade receivables and contract assets. Trade 
receivables and contract assets have shared credit risk characteristics and, as such, the 
expected loss rates for trade receivables are a reasonable approximation of loss rates for 
contract assets. Losses incurred in the last 3 years represent less than 1% of receivables and 
are immaterial. The Group has made a provision for impairment against an invoice that is in 
dispute and is considered to be at reasonable risk. 
Other receivables are recognized at amortised cost, less any provision for impairment. 
Financial Report

45
Note 1: Statement of Significant Accounting Policies (continued) 
(l) 
Finance costs 
Finance costs attributable to qualifying assets are capitalised as part of the asset. All other 
finance costs are expensed in the period in which they are incurred, including interest in respect 
of lease liabilities. 
(m) 
Employee benefits 
Provision is made for the company’s liability for employee benefits arising from services 
rendered by employees to the reporting date. Employee benefits that are expected to be settled 
within one year have been measured at the amounts expected to be paid when the liability is 
settled, plus related on-costs. Employee benefits payable later than one year have been 
measured at the present value of the estimated future cash outflows to be made for those 
benefits. 
(n) 
Provisions 
Provisions are recognised when the entity has a legal or constructive obligation, as a result of 
past events, for which it is probable that an outflow of economic benefits will result, and that 
outflow can be reliably measured. 
(o) 
Leases  
The Group leases business premises (offices and laboratories) and office equipment. Rental 
contracts are typically for a fixed period of 12 months to 60 months and may include extension 
options. From 1 July 2019 leases are recognised as a right of use asset and a corresponding 
liability at the date at which the lease is available for use by the Group. Assets and liabilities 
are measured on a present value basis. 
Lease payments are discounted using the interest rate implicit in the lease. Where a rate 
cannot be readily determined from the lease (generally the case) then the lessee’s incremental 
borrowing rate will be used, being the rate the lessee would have to pay to borrow the funds to 
obtain the equivalent asset. As the Group does not have any borrowings the incremental 
borrowing rate has been determined using a build-up approach whereby the risk-free rate is 
adjusted for credit risk, considering factors such as term, country, and currency. 
The Group has no variable lease payments in its leases, nor do any of the leases have an 
option to extend the term. 
Right of use assets are depreciated on a straight-line basis over the term of the lease. 
Lease payments for operating leases of low value items or for a period of less than 12 months, 
where substantially all the risks and benefits remain with the lessor, are charged as expense 
in the period in which they are incurred. Refer to note 12 for further information pertaining to 
the Group’s right of use assets and liabilities.  
(p) 
Share-based payments  
Equity-settled share-based payments with employees and others providing similar services are 
measured at fair value of the equity instrument at the grant date. Further details on how the fair 
value of equity-settled share-based transactions has been determined can be found in note 18. 
The fair value determined at the grant date of the equity-settled share-based payments is 
expensed on a straight-line basis over the vesting period, based on the Company’s estimate 
of equity instruments that will eventually vest. 
(q) 
Parent entity financial information 
The financial information for the parent entity, Genetic Signatures Limited, disclosed in note 
26, has been prepared on the same basis as the consolidated financial statements. 
Notes to the Financial Statements for the 
financial year ended 30 June 2021

Genetic Signatures Limited – Annual Report 2021
Note 1: Statement of Significant Accounting Policies (continued) 
(r) 
Earnings per share 
Basic earnings per share are calculated by dividing: 
• 
the profit attributable to owners of the Company, excluding any costs of servicing equity 
other than ordinary shares; and 
• 
by the weighted average number of ordinary shares outstanding during the financial 
year. 
Diluted earnings per share adjusts the figures used in the determination of basic earnings per 
share to take into account dilutive potential ordinary shares. 
(s) 
Foreign currency translation 
The financial statements are presented in Australian dollars, which is Genetic Signatures 
Limited's functional and presentation currency. 
Foreign currency transactions 
Foreign currency transactions are translated into Australian dollars using the exchange rates 
prevailing at the dates of the transactions. Foreign exchange gains and losses  
resulting from the settlement of such transactions and from the translation at financial year-
end exchange rates of monetary assets and liabilities denominated in foreign currencies are 
recognised in profit or loss. 
Foreign operations 
The assets and liabilities of foreign operations are translated into Australian dollars using the 
exchange rates at the reporting date. The revenues and expenses of foreign  
operations are translated into Australian dollars using the average exchange rates, which 
approximate the rates at the dates of the transactions, for the period. All resulting foreign 
exchange differences are recognised in other comprehensive income through the foreign 
currency reserve in equity. 
 
(t) 
Software development 
Costs incurred in developing or acquiring software, licences or systems that will contribute 
future financial benefits are capitalised. These include external direct costs of materials and 
service. IT development costs include only those costs directly attributable to the 
development phase and are only recognised following completion of technical feasibility, 
where the Group has the intention and ability to use the asset. 
 
(u) 
New Accounting Standards and Interpretations not yet mandatory or early adopted  
Australian Accounting Standards and Interpretations that have recently been issued or 
amended but are not yet mandatory, have not been early adopted by the consolidated entity 
for the annual reporting period ended 30 June 2021. The consolidated entity has not yet 
assessed the impact of these new or amended Accounting Standards and Interpretations. 
 
 
Financial Report

47
Note 1: Statement of Significant Accounting Policies (continued) 
(v)   Critical Accounting Estimates and Judgments 
The Directors evaluate estimates and judgements incorporated into the financial report based 
on historical knowledge and best available current information. Estimates assume a 
reasonable expectation of future events and are based on current trends and economic data, 
obtained both externally and within the company.  
Key estimates – valuation of employee share option plan shares 
At each reporting date, the entity revises its estimate of the number of rights that are expected 
to become exercisable. The employee benefit expense recognised each period takes into 
account the most recent estimate. The impact of the revision to the original estimates, is 
recognised in profit or loss with a corresponding adjustment to equity. The fair value is 
measured at grant date and recognised over the period during which the employee becomes 
unconditionally entitled to the restricted shares or options.  
Judgements - research and development claim 
Judgement is required in determining the amount of grant revenue relating to the research and 
development claim. There are certain transactions and calculations undertake during the 
ordinary course of business for which the ultimate tax determination may be subject to change. 
The company calculates its research and development claim based on the company’s 
understanding of the tax law. Where the final outcome of these matters is different from the 
amounts that were initially recorded, such differences will impact the profit or loss in the year 
in which such determination is made. 
Judgements – provisioning for inventory 
Inventories generally have expiry dates and the Group provides for product that have expired 
or are close to expiry. Expiry dates for raw material are no longer relevant once the materials 
are used in production. At this stage the relevant expiry date is that applicable to the resultant 
intermediate or finished product. 
Various factors affect the assessment of recoverability of the carrying value of inventory, 
including regulatory approvals and future demand for the Group’s products. These factors are 
taken into consideration in determining the appropriate level of provisioning for inventory. 
Judgements - COVID-19 pandemic 
Judgement has been exercised in considering the impacts that the Coronavirus (COVID-19) 
pandemic has had, or may have, on the Group based on known information. This consideration 
extends to the nature of the products and services offered, customers, supply chain, staffing 
and geographic regions in which the Group operates. Other than as addressed in specific 
notes, there does not currently appear to be either any significant impact upon the financial 
statements or any significant uncertainties with respect to events or conditions which may 
impact the consolidated entity unfavourably as at the reporting date or subsequently as a result 
of the Coronavirus (COVID-19) pandemic. 
 
 
 
 
Notes to the Financial Statements for the 
financial year ended 30 June 2021

Genetic Signatures Limited – Annual Report 2021
Note 2: Revenue 
 
 
 
Disaggregation of revenue 
The Group derives revenue from the transfer of goods and services over time and at a point in 
time in the following major product and geographical regions 
 
 
Asia 
Pacific 
 
EMEA 
 
Americas 
Total 
Consolidated - 2021 
$’000s  
$’000s  
$’000s 
$’000s 
 
 
 
 
 
 
 
Revenue lines 
  
  
 
 
Reagents & consumables 
21,743  
3,589  
1,435 
26,767 
Equipment sales & rental 
483  
837  
178 
1,498 
Service contracts 
19  
-  
- 
19 
 
22,245 
4,426 
1,613  
28,284 
 
  
  
 
 
Timing of revenue recognition 
  
  
 
 
Goods transferred at a point in time 
22,226  
4,426  
1,613 
28,265 
Services transferred over time 
19  
-  
- 
19 
 
22,245 
4,426 
1,613  
28,284 
 
 
 
Asia 
Pacific 
 
EMEA 
 
Americas 
 
Total 
Consolidated - 2020 
 
$’000s  
$’000s  
$’000s  
$’000s 
 
 
 
 
 
 
 
 
 
Revenue lines 
 
  
  
  
 
Reagents & consumables 
 
9,430  
770  
3  
10,203 
Equipment sales & rental 
 
663  
337  
-  
1,000 
Service contracts 
 
60  
-  
-  
60 
10,153  
1,107  
3  
11,263 
 
 
  
  
  
 
Timing of revenue recognition 
 
  
  
  
 
Goods transferred at a point in time 
 
10,093  
1,107  
3  
11,203 
Services transferred over time 
 
60  
-  
-  
60 
10,153  
1,107  
3  
11,263 
 
Note 3: Financial Reporting Segments 
 
The Group is operated under one business segment which was the research and commercialisation 
of identifying individual genetic signatures to identify diseases and disabilities.  
 
Major customers 
During the year ended 30 June 2021 there were two customers (2020: two) that each contributed 
over 10% of the consolidated entity’s external revenue. 
 
 
 
Financial Report

49
Note 3: Financial Reporting Segments (continued) 
 
Geographic locations 
 
Asia Pacific  
The Group’s head office and manufacturing operation is based in Sydney, Australia.  
 
79% of the revenue was generated within the Australian entity. 
 
EMEA 
This business comprises Eastern and Western Europe, Middle East including Israel, and Africa. The 
Group is represented by employees in UK and Germany.  
 
Americas 
The Group’s North American business includes the United States and Canada. The Group proposes 
to sell products in this region and is currently having its products evaluated by the US FDA. 
Operations are currently based in California, USA. 
 
 
Asia 
Pacific 
EMEA 
 
Americas 
 
Total 
Consolidated - 2021 
$’000s 
$’000s  
$’000s 
 
 
 
 
 
 
 
 
 
Segment revenue 
25,397 
4,447 
1,679   
31,523 
Intersegment sales 
(3,152) 
(21) 
(66)   
(3,239) 
Total sales from external customers 
22,245 
4,426 
1,613   
28,284 
Other revenue 
- 
- 
-   
- 
Segment revenue from external customers 
22,245 
4,426 
1,613   
28,284 
 
 
 
   
 
Segment result from external customers 
 
9,948 
1,541 
(457)   
3,032 
Unallocated revenue less unallocated expenses 
 
 
   
(1,276) 
Profit before income tax 
 
 
   
1,756 
Income tax 
 
 
   
- 
Net profit after tax 
 
 
   
1,756 
 
 
 
   
 
Consolidated - 2020 
 
 
   
 
 
 
 
   
 
Segment revenue 
10,153 
1,107 
3   
11,263 
Intersegment sales 
- 
- 
-   
- 
Total sales from external customers 
10,153 
1,107 
3   
11,263 
Other revenue 
2,554 
- 
-   
2,554 
Segment revenue from external customers 
12,707 
1,107 
3   
13,817 
 
 
 
   
 
Segment result from external customers 
23 
(515) 
(952)   
(1,444) 
Unallocated revenue less unallocated expenses 
 
 
   
(642) 
Loss before income tax 
 
 
   
(2,086) 
Income tax 
 
 
   
- 
Net loss after tax 
 
 
   
(2,086) 
 
 
Notes to the Financial Statements for the 
financial year ended 30 June 2021

Genetic Signatures Limited – Annual Report 2021
 
 
Consolidated 
 
2021 
$’000s 
 
2020 
$’000s 
Note 4: Other income 
  
 
 
Interest income 
206  
271 
Government Grant (R&D Rebate)* 
-  
2,554 
Export Market Development Grant 
100  
- 
Other income 
129  
85 
Total other income 
435  
2,910 
 
* The group exceeded the $20 million aggregate turnover rate imposed by the ATO and therefore 
did not qualify for the R&D cash rebate for the 30 June 2021 financial year. 
 
Consolidated 
 
2021 
$’000s 
 
2020 
$’000s 
Note 5: Expenses 
  
 
Finance costs 
Interest charges 
36  
33 
 
Superannuation expense 
Defined contribution superannuation expense (including 
non-executive Directors) 
466  
290 
 
  
 
Write-down of inventory to net realisable value* 
270  
- 
 
Items included in other expenses include: 
Patents – lodgement and maintenance  
143  
153 
Foreign exchange loss 
71  
133 
 
  
 
* Write-down of inventory to net realisable value included in the cost of materials used in the 
statement of profit or loss and other comprehensive income. Refer to Note 9 for details of inventories. 
 
  
 
Note 6: Income tax  
 
 
Consolidated 
 
 
2021 
$’000s 
 
2020 
$’000s 
Numerical reconciliation of income tax benefit to prima 
facie tax payable 
 
  
 
Prima facie income tax (benefit) on profit/(loss) from ordinary 
activities at 26% (2020: 27.5%) 
 
715 
(1,048) 
 
Add/(less)tax effect of: 
  
 
- non-deductible items 
2,459  
1,862 
- tax losses not brought to account 
329  
(587) 
- research and development tax credit 
(2,902)  
- 
- temporary differences not brought to account 
(601)  
(328) 
 
  
 
Income tax benefit attributable to entity 
-  
- 
 
 
Financial Report

51
Note 6: Income tax (continued) 
 
The consolidated entity has recorded its first profit during the year ended 30 June 2021. The 
consolidated entity currently has carried forward losses of $6,384,000 from prior years in respect to 
its Australian operations, approximately US$3,633,000 in respect to its North American operations, 
and GBP164,000  from its UK operations. The utilisation of these carried forward losses is conditional 
on the consolidated entity meeting the conditions for deductibility imposed by the law in the period 
in which the consolidated entity derives sufficient taxable income in order to utilise these losses. For 
the year ended 30 June 2021, management has reviewed the deductibility of these losses in 
comparison to the estimated taxable income derived by the consolidated entity and are confident 
that sufficient losses are available to offset the taxable income for the financial year ended 30 June 
2021. Whilst the consolidated entity has continued to trade positively due to the COVID-19 induced 
demand, it is currently not known with sufficient certainty how the consolidated entity’s trade will 
transpire for the FY22 period and beyond. As a consequence, the consolidated entity has elected 
not to recognise any deferred tax assets or carried forward income tax losses until the probability of 
recoupment is sufficiently certain. 
 
  
 
 
Note 7: Cash and cash equivalents 
Consolidated 
 
 
2021 
$’000s 
 
2020 
$’000s 
Cash at bank and on hand 
5,121  
16,176 
Cash on deposit (maturity < 12 months) 
25,000  
15,000 
 
30,121  
31,176 
 
Cash at bank and on hand bears floating interest rates. The interest rate relating to cash and cash 
equivalents for the year was between nil% and 0.4% (2020: between nil% and 1.8%). 
 
Genetics Signatures Limited has an unused credit card facility with the bank at the year-end date of 
$57,000 (2020: $57,000). 
 
Note 8: Trade and other receivables 
Consolidated 
 
 
2021 
$’000s 
 
2020 
$’000s 
Current 
  
 
Trade debtors (a) 
5,106  
4,649 
Provision for expected credit losses 
(143)  
- 
 
4,963  
4,649 
Other receivables (b) 
410  
574 
 
5,373  
5,223 
 
a. Past due but not impaired and impairment of receivables 
Customers with balances past due amount to $810,000 as at 30 June 2021 ($502,000 as at 30 
June 2020) of which the company has recognised a provision for expected credit losses of 
$143,000 (2020: $NIL) in profit or loss for the year ended 30 June 2021 (2020: $NIL). 
b.  Other receivables 
These amounts relate to prepayments and accrued interest. None of these receivables are 
impaired or past due but not impaired. 
c.  Fair value and credit risk 
Due to the short-term nature of these receivables, their carrying value is assumed to approximate 
their fair value. Information about the Company’s exposure to fair value and credit risk in relation 
to trade and other receivables is provided in note 27. 
 
 
 
Notes to the Financial Statements for the 
financial year ended 30 June 2021

Genetic Signatures Limited – Annual Report 2021
Note 9: Inventory 
Consolidated 
 
2021 
 
2020 
 
$’000s 
 
$’000s 
Raw materials 
6,681  
2,423 
Work in progress 
737  
170 
Finished goods 
4,963  
2,911 
Stock in transit 
23  
1,748 
Provision for obsolescence 
(270)  
- 
 
12,134  
7,252 
 
 
 
 
 
Note 10: Government grant receivable 
Consolidated 
 
2021 
 
2020 
 
$’000s 
 
$’000s 
Research & Development tax concession  
- 
 
2,554 
 
 
 
 
 
Note 11: Property, plant and equipment  
Consolidated 
 
2021 
 
2020 
 
$’000s 
 
$’000s 
Plant and equipment: 
 
 
 
 
At cost 
9,539 
 
5,661 
Less: accumulated depreciation 
(3,880) 
 
(2,986) 
 
5,659 
 
2,675 
 
 
 
Movement in plant and equipment is as follows: 
 
 
 
Plant & 
equipment 
$’000s 
 
Total 
$’000s 
Cost at 1 July 2019 
4,019 
 
4,019 
Additions    
2,275 
 
2,275 
Disposals 
(632) 
 
(632) 
Cost at 30 June 2020 
5,662 
 
5,662 
 
 
 
 
Accumulated depreciation 1 July 2019 
(2,646) 
 
(2,646) 
Depreciation expense 
(521) 
 
(521) 
Disposal of assets 
180 
 
180 
Accumulated depreciation 30 June 2020 
(2,987) 
 
(2,987) 
 
 
 
 
Carrying amount 30 June 2020 
2,675 
 
2,675 
 
 
 
 
 
Cost at 1 July 2020 
5,662 
 
5,662 
Additions    
4,653 
 
4,653 
Disposals 
(775) 
 
(775) 
Cost at 30 June 2021 
9,540 
 
9,540 
 
 
 
 
Accumulated depreciation 1 July 2020 
(2,987)   
(2,987)  
Depreciation expense 
(1,025) 
 
(1,025) 
Disposal of assets 
131 
 
131 
Accumulated depreciation 30 June 2021 
(3,881) 
 
(3,881) 
 
 
 
 
Carrying amount 30 June 2021 
5,659 
 
5,659 
 
 
 
 
 
 
Financial Report

53
 
Note 12: Right of use assets - leases 
 
 
 
 
Consolidated 
 
 
2021 
2020
 
 
$’000s 
$’000s
 
 
 
 
(i) 
Amounts recognised in the statement of financial position  
 
 
 
 
 
 
Right of use assets 
 
 
 
Buildings 
 
385 
728 
Equipment 
 
4 
6 
 
 
389 
734 
Lease liabilities 
 
 
 
Current 
 
334 
313 
Non-current 
 
65 
428 
 
 
399 
741 
 
 
 
 
(ii) 
Amounts recognised in the statement of profit or loss 
 
 
 
 
 
 
 
Amortisation charge of right of use assets 
 
 
 
Buildings 
 
344 
303 
Equipment 
 
2 
2 
 
 
346 
305 
 
 
 
 
Interest expense (included in finance costs) 
 
36 
33 
Expenses related to short-term leases (included in other 
expenses) 
 
189 
94 
 
 
 
 
 
 
 
Note 13: Trade and other payables 
Consolidated 
 
2021  
2020 
 
$’000s  
$’000s 
Current – unsecured 
  
 
 
  
 
Trade creditors 
2,755  
1,779 
Other creditors 
597  
589 
 
3,352  
2,368 
 
 
 
 
 
Note 14: Provisions 
 
Consolidated 
 
2021 
2020 
 
$’000s 
$’000s 
Current 
 
 
Employee benefits 
938 
657 
 
 
 
Non-Current 
 
 
Employee benefits 
18 
20 
 
 
 
Notes to the Financial Statements for the 
financial year ended 30 June 2021

Genetic Signatures Limited – Annual Report 2021
 
Note 15: Issued capital  
 
 
Number 
$’000s 
 
 
 
Opening balance at 1 July 2019: 
 
104,034,437 
 
47,028 
Movement in ordinary share capital 
 
 
Share placement 
35,714,286 
35,000 
Share Purchase Plan 
2,551,023 
2,500 
Repayment of loans over employee share plan shares 
- 
1,234 
Exercise of employee share options 
311,250 
143 
Less: Share issue costs 
- 
(1,892) 
 
Closing balance at 30 June 2020 
 
142,610,996 
 
84,013 
 
 
 
Movement in ordinary share capital 
 
 
Exercise of employee share options 
296,250 
163 
Less: Share issue costs 
- 
(12) 
 
Closing balance as at 30 June 2021 
142,907,246 
84,164 
 
All fully paid ordinary shares and founder shares have equal voting rights, of one vote per share, 
and subject to the prior rights of preference shares, have equal rights to receive dividends in 
proportion to the number of ordinary shares held.   
 
 
Note 16: Reserves 
 
Share based payments reserve 
 
Consolidated 
 
2021 
2020 
 
$’000s 
$’000s 
Balance 1 July  
1,985 
1,413 
Transferred to accumulated losses upon forfeiture 
(235) 
(59) 
Share-based payment expenses 
1,719 
631 
Balance 30 June 
3,469 
1,985 
  
The share-based payments reserve is used to recognise the fair value of equity benefits provided 
to employees and Directors as part of their compensation. 
 
Foreign currency translation reserve 
Consolidated 
 
2021 
2020 
 
$’000s 
$’000s
Balance 1 July  
(155) 
(44) 
Arising from translation of foreign subsidiaries 
20 
(111) 
Balance 30 June 
(135) 
(155) 
  
The foreign currency translation reserve is used to recognise the exchange difference on the 
translation of the US and UK subsidiaries into AUD. 
 
 
 
Financial Report

55
Note 17: Related party transactions 
 
Related parties 
 
 
 
 
 
(a)    The company's main related parties are as follows: 
Key management personnel: 
 
Any persons having authority and responsibility for planning, directing and controlling the 
activities of the entity, directly or indirectly, including any director (whether executive or 
otherwise) of that entity, are considered key management personnel. 
 
Key Management personnel include: 
 
Nickolaos Samaras – Director 
John R Melki – Director and Chief Executive Officer 
Michael A Aicher – Director 
Anthony J Radford – Director 
Neil Gunn – Director (appointed April 2021) 
Peter L Manley – Chief Financial Officer/Company Secretary 
 
For details of disclosures relating to key management personnel, refer to Note 19. 
 
 
(b) Transactions with related parties: 
 
There were no related party transactions during the year other than transactions with key 
management personnel as part of their remuneration. 
 
 
Note 18: Share-based payments 
 
Options were issued during the year, pursuant to the Equity Incentive Plan. Fair values at grant date 
are determined using a Black-Scholes Option Pricing Model that takes into account the exercise 
price, the term of the option, the share price at the grant date, the expected volatility of the underlying 
share, and risk free interest rate for the term of the option. The model inputs for options granted 
during the year ended 30 June 2021 are noted below: 
  
Grant 
date 
Expiry 
date 
Vesting 
period 
(mths) 
Exercise 
price 
Share 
price at 
issue 
date 
Fair 
value at 
issue 
date 
Est. 
volatility 
Expected 
dividend 
yield 
Average 
risk-free 
rate 
Sep 20 
Sep 35 
48 
$2.30 
$2.00 
$1.77 
82% 
- 
0.97% 
Nov 20 
Nov 35 
48 
$2.30 
$1.75 
$1.54 
83% 
- 
0.86% 
Feb 21 
Feb 36 
48 
$1.88 
$1.83 
$1.83 
83% 
- 
0.86% 
Apr 21 
Apr 36 
48 
$1.56 
$1.44 
$1.29 
83% 
- 
1.57% 
 
The company was admitted to the official list on ASX on 30 March 2015. Historical 12 month volatility 
has been the basis for determining expected share price volatility as it is assumed that this is 
indicative of future movements.
Notes to the Financial Statements for the 
financial year ended 30 June 2021

Genetic Signatures Limited – Annual Report 2021
Employee Share Ownership Plan Shares 
Set out below are the summaries of restricted shares and options granted under the plan: 
 
2021 
Grant date 
Exercise 
price 
Balance at 
beginning 
of the year 
 
Number 
Granted 
during the 
year 
 
Number 
Converted 
during the 
year 
 
Number 
Expired/ 
Forfeited 
during the 
year 
Number 
Balance at 
the end of 
the year 
 
Number 
Vested and 
convertible 
at year end 
Number 
Options 
 
  
  
  
  
  
  
October 2016 
$0.52 
301,250 
- 
(120,250) 
- 
181,000 
181,000 
November 2016 
$0.52 
100,000 
- 
- 
- 
100,000 
100,000 
October 2017 
$0.34 
387,500 
- 
(62,500) 
- 
325,000 
218,750 
October 2017 
$0.38 
250,000 
- 
- 
- 
250,000 
187,500 
August 2018 
$0.53 
625,000 
- 
(75,000) 
- 
550,000 
230,000 
November 2018 
$0.53 
200,000 
- 
- 
- 
200,000 
100,000 
February 2019 
$0.84 
150,000 
- 
- 
- 
150,000 
75,000 
May 2019 
$1.10 
200,000 
- 
- 
200,000 
100,000 
November 2019 
$0.98 
865,000 
- 
(26,000) 
(30,000) 
809,000 
190,250 
March 2020 
$1.13 
200,000 
- 
(12,500) 
(87,500) 
100,000 
25,000 
September 2020 
$2.30 
- 
1,350,000 
- 
(120,000) 
1,230,000 
- 
November 2020 
$2.30 
- 
250,000 
 
 
250,000 
- 
February 2021 
$1.88 
- 
100,000 
- 
(100,000) 
- 
- 
April 2021 
$1.56 
- 
15,000 
- 
- 
15,000 
- 
Total 
 
3,278,750 
1,715,000 
(296,250) 
(337,500) 
4,360,000 
1,407,500 
Weighted average option 
exercise price 
$0.70 
$2.27 
$0.55 
$1.75 
$1.25 
$0.61 
Weighted average remaining contractual life of options (years) 
12.96 
 
 
Financial Report

57
 
2020 
Grant date 
Exercise 
price 
Balance at 
beginning of 
the year 
Granted 
during the 
year 
Converted 
during the 
year 
Expired/ 
Forfeited 
during the 
year 
Balance at 
the end of the 
year Number 
Vested and 
convertible 
at year end 
Options 
 
  
  
  
  
  
  
October 2016 
$0.52 
490,000 
- 
(141,250) 
(47,500) 
301,250 
213,750 
November 2016 
$0.52 
100,000 
- 
- 
- 
100,000 
75,000 
June 2017 
$0.39 
200,000 
- 
(100,000) 
(100,000) 
- 
- 
October 2017 
$0.34 
447,500 
- 
(37,500) 
(22,500) 
387,500 
175,000 
October 2017 
$0.38 
250,000 
- 
- 
- 
250,000 
125,000 
August 2018 
$0.53 
730,000 
- 
(32,500) 
(72,500) 
625,000 
145,000 
November 2018 
$0.53 
200,000 
- 
- 
- 
200,000 
50,000 
February 2019 
$0.84 
150,000 
- 
- 
- 
150,000 
37,500 
May 2019 
$1.10 
200,000 
- 
- 
- 
200,000 
50,000 
November 2019 
$0.98 
- 
945,000 
- 
(80,000) 
865,000 
- 
March 2020 
$1.13 
- 
200,000 
- 
- 
200,000 
- 
Total 
 
2,767,500 
1,145,000 
(311,250) 
(322,500) 
3,278,750 
871,250 
Weighted average option 
exercise price 
$0.53 
$1.01 
$0.46 
$0.58 
$0.70 
$0.51 
Weighted average remaining contractual life of options (years) 
14.28 
 
 
 
Restricted Shares 
 
 
 
 
 
 
 
March 2015 
$0.40 
3,000,000 
- 
(3,000,000) 
- 
- 
- 
April 2016 
$0.49 
70,000 
- 
(70,000) 
- 
- 
- 
Total 
 
3,070,000 
- 
(3,070,000) 
- 
- 
- 
Weighted average option 
exercise price 
$0.40 
$ - 
$0.40 
$ - 
$ - 
$ - 
Weighted average remaining contractual life of options (years) 
- 
 
Restricted shares were offered and funded by an interest free loan from the Group at the time of 
listing. Restricted shares have vested and were converted to ordinary shares following repayment 
of the loan, which were repaid in FY20. 
Notes to the Financial Statements for the 
financial year ended 30 June 2021

Genetic Signatures Limited – Annual Report 2021
Note 19: Key management personnel disclosures 
 
2021 
 
2020 
 
$ 
 
$ 
Short-term employee benefits 
915,281 
 
812,680 
Non-monetary benefits 
1,964 
 
16,320 
Short term incentive 
87,490 
 
193,070 
Post-employment benefits 
63,949 
 
57,800 
Long-term benefits 
47,441 
 
45,402 
Termination benefits 
- 
 
- 
Share based payments 
266,348 
 
136,436 
 
1,382,473 
 
1,261,708 
 
Key management personnel remuneration has been included in the Remuneration Report 
section of the Directors’ Report. 
 
Note 20: Leasing Commitments 
  
Operating lease commitments 
Non-cancellable operating leases contracted for but not capitalised in the financial statements 
 
Minimum lease payments payable:  
 
2021 
 
2020 
 
$’000s 
 
$’000s 
Not later than one year 
- 
 
3 
 
- 
 
3 
 
 
Note 21: Events Subsequent to Reporting Date 
 
The impact of the Coronavirus (COVID-19) pandemic is ongoing and while it has been 
financially positive for the consolidated entity through 30 June 2021, it is not practicable to 
estimate the potential impact, positive or negative, after the reporting date. The situation is 
rapidly developing and is dependent on measures imposed by authorities in countries where 
Genetic Signatures supplies test kits, such as speed and effectiveness of vaccine rollout, 
maintaining social distancing requirements, quarantine, travel restrictions and any economic 
stimulus that may be provided. 
 
Other than the above, there has not arisen in the interval between the end of the financial year 
and the date of this report any other item, transaction or event of a material and unusual nature 
likely in the opinion of the directors of the Company to affect significantly the operations of the 
Company, the results of those operations or the state of affairs of the Company in future 
financial years. 
 
Note 22: Subsidiaries 
 
 
Country 
of incorporation 
Equity holding in 
subsidiaries 
 
 
2021 
2020 
 
 
% 
% 
a) 
Parent entity 
 
 
 
Genetic Signatures Limited 
Australia 
 
 
 
 
 
 
b) 
Controlled entities 
 
 
 
Genetic Signatures USA Ltd 
USA 
100% 
100% 
Genetic Signatures UK Ltd 
UK 
100% 
100% 
 
 
Financial Report

59
 
Note 23: Auditors’ remuneration 
Consolidated 
 
BDO 
2021 
$ 
 
2020 
$ 
Audit and review of financial statements 
80,482 
 
74,138 
Other non-audit services 
 
 
 
Tax compliance services 
27,345 
 
17,340 
Consulting services 
- 
 
9,300 
Total non-audit services 
27,345 
 
26,640 
Total audit and non-audit services 
107,827 
 
100,778 
 
Notes to the Financial Statements for the 
financial year ended 30 June 2021
 
Note 24: Contingent liabilities 
 
The company does not have any material contingent liabilities at year-end (2020: nil). 
 
Note 25: Cash Flow Information 
 
Consolidated 
 
2021 
$’000s 
 
2020 
$’000s 
(a) Reconciliation of Cash 
 
 
 
Cash at the end of the financial year as shown in the 
statement of cash flows is reconciled to the related 
items in the statement of financial position as follows: 
 
 
 
 
 
Cash on hand and at bank 
30,121 
31,176 
 
(b) Reconciliation of Profit/(Loss) after Income Tax to 
net Cash inflows/(outflows) from Operations 
 
 
 
 
 
Profit/(loss) after income tax 
1,756 
(2,086) 
 
 
 
Non cash flows included within profit/(loss) 
 
 
Depreciation 
1,079 
577 
Share based payments expenses 
1,483 
572 
Loss on disposal of assets 
(13) 
26 
Inventory provision 
270 
- 
Bad debts provision 
143 
- 
Amortisation of leases 
346 
306 
Transfers between inventory and fixed assets 
759 
(448) 
 
 
 
Changes in operating assets and liabilities: 
 
 
(Increase) in trade and other receivables  
(293) 
(4,360) 
(Increase)/decrease in government grant receivable 
2,554 
(407) 
(Increase) in inventories 
(5,152) 
(5,899) 
Increase in provisions 
279 
908 
Increase in payables 
984 
1,317 
 
 
 
Net cash inflow/(outflow) from operating activities 
4,195 
(9,494)

Genetic Signatures Limited – Annual Report 2021
Note 26: Parent Entity Financial Information 
 
(a) Summary financial information: 
 
2021 
$’000s
 
2020 
$’000s 
Assets 
  
 
Current Assets 
  
 
Cash and cash equivalents 
29,394  
31,010 
Trade and other receivables 
7,990  
10,885 
Inventory 
11,054  
5,505 
Government grant receivable 
-  
2,554 
Total Current Assets 
48,438  
49,954 
 
Non-Current Assets 
  
 
Plant and equipment 
4,994  
2,622 
Right of use assets 
389  
734 
Total Non-Current Assets 
5,383  
3,356 
 
  
 
Total Assets 
53,821  
53,310 
 
  
 
Liabilities 
  
 
Current Liabilities 
  
 
Trade and other payables 
3,202  
2,361 
Provisions 
862  
657 
Leases 
334  
313 
Total Current Liabilities 
4,398  
3,331 
 
Non-Current Liabilities 
  
 
Leases 
65  
428 
Provisions 
18  
20 
Total Non-Current Liabilities 
83  
448 
 
Total Liabilities 
 
4,481 
 
 
3,779 
 
  
 
Net Assets 
49,340  
49,531 
 
Equity 
  
 
Issued capital 
84,164  
84,013 
Reserves 
3,469  
1,985 
Accumulated losses 
(38,293)  
(36,467) 
Total Equity 
49,340  
49,531 
 
Profit/(loss) for the year 
(1,826)  
(1,132) 
Other comprehensive income/(loss) 
-  
- 
Total comprehensive income/(loss) for the year 
(1,826)  
(1,132) 
 
  
 
(b) Summary financial information: 
  
 
The Parent entity did not have any contingent liabilities as at 30 June 2021 or 30 June 2020. 
 
(c) Significant accounting policies: 
The accounting policies of the parent entity are consistent with those of the consolidated entity, 
as disclosed in note 1, except for the following: 
• 
Investments in subsidiaries are accounted for at cost, less any impairment, in the parent 
entity. 
 
 
Financial Report

61
Note 27: Financial risk management 
 
The company's financial instruments consist mainly of deposits with banks, accounts 
receivable and payable, and lease liabilities. The totals for each category of financial 
instruments, measured in accordance with AASB 9 as detailed in the accounting policies to 
these financial statements, are shown at their net fair value. 
 
Net Fair Value 
The fair values of financial assets and financial liabilities are presented in the following table 
and can be compared to their carrying values as presented in the statement of financial 
position. Fair values are those amounts at which an asset could be exchanged, or a liability 
settled, between knowledgeable, willing parties at arm's length transaction. 
 
Fair values derived may be based on information that is estimated or subject to judgment, 
where changes in assumptions may have material impact on the amounts estimated.  
 
The values disclosed in the above table have been determined based on the following 
methodologies: 
 
Cash and cash equivalents, trade and other receivables and trade and other payables are 
short-term instruments in nature whose carrying value is equivalent to fair value. The fair value 
of lease liabilities is estimated by discounting the remaining contractual maturities at the current 
market interest rate that is available for similar financial liabilities. 
 
 
Interest Rate Risk 
 
The company's main interest rate risk arises from the cash balance which is invested at variable 
rates. 
 
Sensitivity 
 
Significant changes in market interest rates may have an effect on the Company's income and 
operating cash flows. The Company manages its cash flow interest rate risk by placing excess 
funds in term deposits.   
 
Based on the cash held at reporting date, the sensitivity to a 1% increase or decrease in interest 
rates would increase/(decrease) after tax profit by $301,000 (2020 loss: $311,000). 
 
 
 
Net Carrying 
Value 2021  
Net Fair 
Value 2021 
 
Net Carrying 
Value 2020 
 
Net Fair 
Value 2020 
Financial assets  
$’000s  
$’000s  
$’000s  
$’000s 
Cash and cash equivalents 
30,121  
30,121 
 
31,176 
 
31,176 
Trade and other receivables 
5,373  
5,373 
 
5,223 
 
5,223 
Total Financial Assets 
35,494  
35,494 
 
36,399 
 
36,399 
 
 
  
 
 
 
 
 
Financial Liabilities 
 
  
 
 
 
 
Trade creditors 
2,755  
2,755 
 
1,779 
 
1,779 
Other creditors 
597  
597 
 
589 
 
589 
Lease liabilities 
399  
399 
 
741 
 
741 
Total Financial Liabilities 
3,751  
3,751 
 
3,109 
 
3,109 
Notes to the Financial Statements for the 
financial year ended 30 June 2021

Genetic Signatures Limited – Annual Report 2021
Credit risk 
Credit risk arises from cash and cash equivalents and deposits with banks and financial 
institutions, as well as credit exposure to domestic and international customers, including 
outstanding receivables and committed transactions. The Company has policies in place to ensure 
that sales of products and services are made to customers with an appropriate credit history. The 
majority of customers have long term relationships with the Company and sales are secured with 
supply contracts. Sales are secured by letters of credit when deemed appropriate. The Company 
has policies that limit the maximum amount of credit exposure to any one financial institution. 
 
The credit quality of financial assets that are neither past due nor impaired can be assessed by 
reference to historical information about counterparty default rates.  The table below summarises 
the assets which are subject to credit risk. 
 
 
Consolidated 
 
2021 
 
2020 
Financial assets 
$’000s 
 
$’000s 
Cash and cash equivalents 
30,121 
 
31,176 
Trade and other receivables 
5,373 
 
5,223 
Total Financial Assets 
35,494 
 
36,399 
 
The group applies the AASB 9 simplified approach to measuring expected credit losses which 
uses a lifetime expected loss allowance for trade receivables. Further detail is explained in 
Note 1(k). 
 
Liquidity Risk 
Liquidity Risk arises from the possibility that the company might encounter difficulty in settling its 
debts or otherwise meeting its obligations related to financial liabilities. The company manages 
this risk through the following mechanisms: 
- 
preparing forward-looking cash flow analysis in relation to its operational, development and 
financing activities; 
- 
obtaining funding from a variety of sources including equity issues; 
- 
only investing surplus cash with major financial institutions. 
 
Financial liability maturity analysis (undiscounted payments) 
 
 
 
 
Weighted 
average 
interest rate  
Within 1 
Year 
 
1 to 5 
Years 
 
Total 
contractual 
cash flows 
 
Total 
Carrying 
amount 
2021 
 
 
% 
 
$’000s 
 
$’000s 
 
$’000s 
 
$’000s 
Financial liabilities due for payment 
 
  
  
  
 
 
 
 
  
  
  
  
Trade and other payables 
- 
 
3,352  
-  
3,352  
3,352 
Lease liabilities  
4.5% 
 
340  
70  
410  
399 
Total expected outflows 
 
 
3,692  
70  
3,762  
3,751 
 
 
 
 
Weighted 
average 
interest rate  
Within 1 
Year 
 
1 to 5 
Years 
 
Total 
contractual 
cash flows 
 
Total 
Carrying 
amount 
2020 
 
 
 
 
$’000s 
 
$’000s 
 
$’000s 
 
$’000s 
Financial liabilities due for payment 
 
  
  
  
 
 
 
 
  
  
  
  
Trade and other payables 
- 
 
2,368  
-  
2,368  
2,368 
Lease liabilities  
4.5% 
 
368  
441  
809  
741 
Total expected outflows 
  
2,736  
441  
3,177  
3,109 
 
Financial Report

63
Note 28: Capital Risk Management 
 
The company’s objective when managing capital is to safeguard the ability to continue as a 
going concern so that they can provide returns to shareholders and benefits to other 
stakeholders and to maintain an optimal capital structure.  
 
Management effectively manages the company’s capital by assessing the company’s 
financial risks and adjusting its capital structure in response to changes in these risks and the 
market.  
  
There were no externally imposed capital requirements during the year. 
 
 
Note 29. Earnings per share 
 
 
 
Consolidated 
 
 
2021  
2020
 
 
$’000s  
$’000s 
 
Profit/(loss) after income tax 
 
 
1,756 
 
(2,086) 
 
 
 
 
Profit/(loss) after income tax attributable to the owners of 
Genetic Signatures Limited 
 
 
1,756 
 
(2,086) 
 
 
Number 
Number 
 
 
 
Weighted average number of ordinary shares used in 
calculating basic earnings per share 
142,801,623 
126,937,639 
Adjustments for calculation of diluted earnings per share: 
 
 
Options over ordinary shares 
2,867,918 
-  
 
 
 
Weighted average number of ordinary shares used in 
calculating diluted earnings per share 
145,669,541 
126,937,639 
  
 
Cents 
Cents 
 
 
 
Basic profit/(loss) per share 
1.23 
(1.64) 
Diluted profit/(loss) per share 
1.21 
(1.64) 
  
 
 
The options on issue were not considered in the diluted earnings per share in the comparative 
period as their effect was anti-dilutive.
Notes to the Financial Statements for the 
financial year ended 30 June 2021

Genetic Signatures Limited – Annual Report 2021
DIRECTORS' DECLARATION 
 
 
In the directors' opinion: 
 
● the attached financial statements and notes thereto comply with the Corporations Act 2001, the Australian
Accounting Standards, the Corporations Regulations 2001 and other mandatory professional reporting 
requirements;  
  
● the attached financial statements and notes thereto comply with International Financial Reporting Standards 
as issued by the International Accounting Standards Board as described in note 1 to the financial statements;
● the attached financial statements and notes thereto give a true and fair view of the consolidated entity’s
financial position as at 30 June 2021 and of its performance for the financial year ended on that date; and 
● there are reasonable grounds to believe that the company will be able to pay its debts as and when they 
become due and payable. 
The directors have been given the declaration required by section 295A of the Corporation Act 2001. 
 
Signed in accordance with a resolution of directors made pursuant to section 295(5)(a) of the Corporations Act 
2001. 
  
On behalf of the directors 
 
 
 
 
 
John Melki 
 
 
 
  
Director  
 
 
 
 
 
 
 
 
 
 
 
Sydney, 25 August 2021 
 
 
 
 
 
 
 
Directors’ Declaration

65
Auditor’s Declaration
Level 11, 1 Margaret St  
Sydney NSW 2000 
Australia 
 
Tel: +61 2 9251 4100 
Fax: +61 2 9240 9821 
www.bdo.com.au 
 
  
 
 
 
 
 
DECLARATION OF INDEPENDENCE BY MARTIN COYLE TO THE DIRECTORS OF GENETIC SIGNATURES 
LIMITED 
 
As lead auditor of Genetic Signatures Limited for the year ended 30 June 2021, I declare that, to the 
best of my knowledge and belief, there have been: 
1. 
No contraventions of the auditor independence requirements of the Corporations Act 2001 in 
relation to the audit; and 
2. 
No contraventions of any applicable code of professional conduct in relation to the audit. 
 
This declaration is in respect of Genetic Signatures Limited and the entities it controlled during the 
period. 
 
 
 
 
Martin Coyle 
Director 
 
BDO Audit Pty Ltd 
Sydney, 25 August 2021 
BDO Audit Pty Ltd ABN 33 134 022 870 is a member of a national association of independent entities which are all members of BDO Australia Ltd ABN 77 050 
110 275, an Australian company limited by guarantee. BDO Audit Pty Ltd and BDO Australia Ltd are members of BDO International Ltd, a UK company limited 
by guarantee, and form part of the international BDO network of independent member firms. Liability limited by a scheme approved under Professional 
Standards Legislation.

Genetic Signatures Limited – Annual Report 2021
Independent Auditor’s Report
Level 11, 1 Margaret St 
Sydney NSW 2000 
Australia 
 
Tel: +61 2 9251 4100 
Fax: +61 2 9240 9821 
www.bdo.com.au 
 
 
To the members of Genetic Signatures Limited 
 
Report on the Audit of the Financial Report 
Opinion  
We have audited the financial report of Genetic Signatures Limited (the Company) and its subsidiaries 
(the Group), which comprises the consolidated statement of financial position as at 30 June 2021, the 
consolidated statement of profit or loss and other comprehensive income, the consolidated statement 
of changes in equity and the consolidated statement of cash flows for the year then ended, and notes 
to the financial report, including a summary of significant accounting policies and the directors’ 
declaration. 
In our opinion the accompanying financial report of the Group, is in accordance with the Corporations 
Act 2001, including:  
(i) 
Giving a true and fair view of the Group’s financial position as at 30 June 2021 and of its 
financial performance for the year ended on that date; and  
(ii) 
Complying with Australian Accounting Standards and the Corporations Regulations 2001.  
Basis for opinion  
We conducted our audit in accordance with Australian Auditing Standards.  Our responsibilities under 
those standards are further described in the Auditor’s responsibilities for the audit of the Financial 
Report section of our report.  We are independent of the Group in accordance with the Corporations 
Act 2001 and the ethical requirements of the Accounting Professional and Ethical Standards Board’s 
APES 110 Code of Ethics for Professional Accountants (including Independence Standards) (the Code) 
that are relevant to our audit of the financial report in Australia.  We have also fulfilled our other 
ethical responsibilities in accordance with the Code. 
We confirm that the independence declaration required by the Corporations Act 2001, which has been 
given to the directors of the Company, would be in the same terms if given to the directors as at the 
time of this auditor’s report. 
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis 
for our opinion.  
Key audit matters 
Key audit matters are those matters that, in our professional judgement, were of most significance in 
our audit of the financial report of the current period.  These matters were addressed in the context of 
our audit of the financial report as a whole, and in forming our opinion thereon, and we do not provide 
a separate opinion on these matters.

67
Existence and valuation of inventory  
Key audit matter  
How the matter was addressed in our audit 
As disclosed in Note 9, the Group held 
inventory with a carrying value of 
$12,134,000 as at 30 June 2021 which 
represented approximately 22% of the 
Group’s total assets. 
Inventory valuation and existence was 
considered a key audit matter due to 
the significant value of these assets in 
the Consolidated Statement of 
Financial Position, the various 
locations that inventory was held, in 
addition to the key estimates and 
judgements applied by management in 
assessing the net realisable value 
(‘NRV’) of inventory. 
Our audit procedures for addressing this key audit matter included, but 
were not limited to, the following: 
• 
Observed the inventory count procedures at key locations 
around the year-end and performed detailed test counts and 
compared these to the underlying inventory records. 
• 
Evaluated the assumptions applied by management’s in 
assessing potential obsolescence for near-expiry and slow-
moving inventory by comparing to recent sales experience and 
the ageing of inventory. 
• 
Analysed inventory turnover by product group in comparison to 
prior periods and to expectations.  
• 
Reviewed management’s processes and estimates for 
calculating the overhead and labour costs included within 
manufactured finished goods inventory. 
• 
Performed various analytical procedures in relation to 
inventory including an analysis of monthly gross margins and 
inventory turnover, comparing to prior years and expectations. 
• 
Tested a sample of inventory items on hand to initial supplier 
invoices and subsequent sales invoices to ascertain whether 
inventory was being correctly recognised at the lower of cost 
and NRV. 
 
Revenue recognition 
Key audit matter  
How the matter was addressed in our audit 
As disclosed in Note 2, the Group 
recognised revenue of $28,284,000 
during the financial year ended 30 
June 2021 (2020: $11,263,000). 
Due to the significant increase in 
revenue during the year and the 
overall significance of revenue to the 
Group as a key performance indicator, 
we considered this area to be a key 
audit matter.     
 
To determine whether revenue was appropriately accounted for and 
disclosed within the financial statements, we performed, amongst 
others, the following audit procedures: 
• 
Critically evaluated the revenue recognition policies for all 
material revenue sources including reviewing any new sales 
agreements entered during the year to identify any variable 
consideration / multiple performance obligation arrangements 
to ensure revenue was recognised in accordance with 
accounting standard AASB 15 Revenue from Contracts with 
Customers. 
Level 11, 1 Margaret St  
Sydney NSW 2000 
Australia 
 
Tel: +61 2 9251 4100 
Fax: +61 2 9240 9821 
www.bdo.com.au

Genetic Signatures Limited – Annual Report 2021
Key audit matter  
How the matter was addressed in our audit 
• 
Tested the operating effectiveness of key internal controls 
surrounding the existence and occurrence of revenues. 
• 
Performed substantive analytical procedures over the key 
revenue streams, comparing against expectations developed 
from discussions with management and supporting 
information. 
• 
Substantively testing a sample of revenue transactions 
throughout the financial year by tracing sales invoices to 
supporting sales documentation, shipping documentation and 
cash receipts.  
• 
Performed detailed cut-off testing to ensure that revenue 
transactions around the year-end had been recorded in the 
correct period. 
 
Other information  
The directors are responsible for the other information. The other information comprises the 
information in the Directors’ Report (excluding the audited Remuneration Report section) for the year 
ended 30 June 2021, but does not include the financial report and the auditor’s report thereon, which 
we obtained prior to the date of this auditor’s report, and the Annual Report to Shareholders, which is 
expected to be made available to us after that date. 
Our opinion on the financial report does not cover the other information and we do not express any 
form of assurance conclusion thereon.  
In connection with our audit of the financial report, our responsibility is to read the other information 
and, in doing so, consider whether the other information is materially inconsistent with the financial 
report or our knowledge obtained in the audit or otherwise appears to be materially misstated.  
If, based on the work we have performed on the other information that we obtained prior to the date 
of this auditor’s report, we conclude that there is a material misstatement of this other information, 
we are required to report that fact. We have nothing to report in this regard. 
When we read the Annual Report to Shareholders, if we conclude that there is a material misstatement 
therein, we are required to communicate the matter to the directors and will request that it is 
corrected.  If it is not corrected, we will seek to have the matter appropriately brought to the 
attention of users for whom our report is prepared. 
Responsibilities of the directors for the Financial Report  
The directors of the Company are responsible for the preparation of the financial report that gives a 
true and fair view in accordance with Australian Accounting Standards and the Corporations Act 2001 
and for such internal control as the directors determine is necessary to enable the preparation of the 
financial report that gives a true and fair view and is free from material misstatement, whether due to 
fraud or error. 
Level 11, 1 Margaret St 
Sydney NSW 2000 
Australia 
 
Tel: +61 2 9251 4100 
Fax: +61 2 9240 9821 
www.bdo.com.au 
 
Independent Auditor’s Report

69
In preparing the financial report, the directors are responsible for assessing the ability of the Group to 
continue as a going concern, disclosing, as applicable, matters related to going concern and using the 
going concern basis of accounting unless the directors either intend to liquidate the Group or to cease 
operations, or has no realistic alternative but to do so.  
Auditor’s responsibilities for the audit of the Financial Report  
Our objectives are to obtain reasonable assurance about whether the financial report as a whole is free 
from material misstatement, whether due to fraud or error, and to issue an auditor’s report that 
includes our opinion.  Reasonable assurance is a high level of assurance, but is not a guarantee that an 
audit conducted in accordance with the Australian Auditing Standards will always detect a material 
misstatement when it exists.  Misstatements can arise from fraud or error and are considered material 
if, individually or in the aggregate, they could reasonably be expected to influence the economic 
decisions of users taken on the basis of this financial report.  
A further description of our responsibilities for the audit of the financial report is located at the 
Auditing and Assurance Standards Board website (http://www.auasb.gov.au/Home.aspx) at: 
https://www.auasb.gov.au/admin/file/content102/c3/ar1_2020.pdf 
This description forms part of our auditor’s report. 
 
Report on the Remuneration Report 
Opinion on the Remuneration Report  
We have audited the Remuneration Report included in the directors’ report under the heading 
‘Remuneration Report’ for the year ended 30 June 2021. 
In our opinion, the Remuneration Report of Genetic Signatures Limited, for the year ended 30 June 
2021, complies with section 300A of the Corporations Act 2001.  
Responsibilities 
The directors of the Company are responsible for the preparation and presentation of the 
Remuneration Report in accordance with section 300A of the Corporations Act 2001.  Our responsibility 
is to express an opinion on the Remuneration Report, based on our audit conducted in accordance with 
Australian Auditing Standards.  
 
BDO Audit Pty Ltd 
 
 
 
 
Martin Coyle  
Director 
Sydney, 25 August 2021 
Level 11, 1 Margaret St  
Sydney NSW 2000 
Australia 
 
Tel: +61 2 9251 4100 
Fax: +61 2 9240 9821 
www.bdo.com.au

Genetic Signatures Limited – Annual Report 2021
Analysis of Holdings
Genetic Signatures Limited
Analysis of Holdings as at 23 September 2021
Additional Informaton Required Under ASX Listing Rules
The additional information required by the Australian Securities Exchange (ASX) and not shown 
elsewhere in this report is set out below. The information is current at 23 September 2021.
Issued Capital
As at 23 September 2021 the Company had 143,036,246 fully paid ordinary shares on issue.
Distribution of Equity Securities
Analysis of numbers of equity security holders for GSS fully paid ordinary shares by size of holding:
Unmarketable parcel of shares	 	
	
"The number of indivdual shareholders holding less than a marketable parcel of shares 
was 274 (a total of 62,755 shares held by 274 shareholders)."	
	
	
329 fully paid ordinary shares comprise a marketable parcel at GSS' closing share price 
of $1.52 on 23 September 2021.		
	
Holdings Ranges
Holders
Total Units
%
1-1,000
602
311,070
0.220
1,001-5,000
734
2,120,932
1.480
5,001-10,000
308
2,481,678
1.730
10,001-100,000
461
16,237,125
11.350
100,001-9,999,999,999
100
121,885,441
85.210
Totals
2,205
143,036,246
100.000

71
Shareholder Information
Equity Security Holders
The names of the twenty largest shareholders of quoted securities are listed below:
Substantial Holders
Shareholder
Balance as at
23 September 2021
%
ASIA UNION INVESTMENTS PTY LTD 
37,500,000
26.22%
HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED
14,559,740
10.18%
NATIONAL NOMINEES LIMITED
10,703,125
7.48%
CITICORP NOMINEES PTY LIMITED
7,511,567
5.25%
UBS NOMINEES PTY LTD
4,944,346
3.46%
BRISPOT NOMINEES PTY LTD <HOUSE HEAD NOMINEE A/C>
4,710,178
3.29%
J P MORGAN NOMINEES AUSTRALIA PTY LIMITED
3,864,975
2.70%
BNP PARIBAS NOMS PTY LTD <DRP>
2,956,153
2.07%
CS FOURTH NOMINEES PTY LIMITED <HSBC CUST NOM AU LTD 11 A/C>
2,452,135
1.71%
CAPITAL CONCERNS PTY LIMITED <LOGUE FAMILY SUPER FUND A/C>
2,300,000
1.61%
BRAHAM CONSOLIDATED PTY LTD
1,828,463
1.28%
BNP PARIBAS NOMINEES PTY LTD <AGENCY LENDING DRP A/C>
1,516,075
1.06%
BNP PARIBAS NOMINEES PTY LTD ACF CLEARSTREAM
1,255,124
0.88%
MR JOHN ROBERT MELKI
1,096,000
0.77%
S LOADER PTY LTD <S LOADER SUPERFUND A/C>
1,050,680
0.73%
IDOLLINK PTY LTD <MCKEITH SUPER FUND A/C>
1,029,890
0.72%
QUICKINVEST PTY LTD <QUICKINVEST STAFF S/F A/C>
1,000,000
0.70%
BRAHAM INVESTMENTS PTY LTD <BRAHAM STAFF SUPER FUND A/C>
886,368
0.62%
JULEYU PTY LTD <PHILLIP ISAACS S/F A/C>
863,213
0.60%
MERRILL LYNCH (AUSTRALIA) NOMINEES PTY LIMITED
688,824
0.48%
Total Securities of Top 20 Holdings
102,716,856
74.97%
Total of Securities
143,036,246
Shareholder
Balance as at
23 September 2021
%
ASIA UNION INVESTMENTS PTY LTD 
37,500,000
26.22%
PERENNIAL VALUE MANAGEMENT LIMITED
21,313,482
14.90%
FIL LIMITED
10,984,948
7.68%

Head Office
Genetic Signatures Ltd
7 Eliza Street Newtown 
NSW 2042 Australia 
Phone: +61 2 9870 7580
Email: info@geneticsignatures.com
www.geneticsignatures.com