Company: MOBBW
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001013762-25-003365
Chunk: 132

Company: Mobilicom Ltd
Filing Date: 2025-03-27
Form: 20-F
Item: Item 19
Chunk 132
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  A                                      2                             18  
  B                                     38                             17  
  C                                     31                             11  

Income by geographic

                      2024                           2023                           2022                       
                      % of total income              % of total income              % of total income          
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Israel                                     61                             66                             39  
  U. S. & Canada                             34                             17                             33  
  Rest of world                               5                             17                             28  

Note 5. Income

Interest

Interest revenue is recognised as interest accrues
using the effective interest method. This is a method of calculating the amortised cost of a financial asset and allocating the interest
income over the relevant period using the effective interest rate, which is the rate that exactly discounts estimated future cash receipts
through the expected life of the financial asset to the net carrying amount of the financial asset.

Government Grant income

The Company receives government grant
income from the Israeli Innovation Authority (formerly the Office of the Chief Scientist) (Innovation Authority), as support for participation
in sponsored programs for research and development projects. Grants are received for eligible research and development expenses, upon
submission and acceptance of periodic project performance reports. Grant income is recognized as the related milestone is met.

Fair value gains (loss) from financial liability

Fair value gain (loss) is recognized at an amount
that reflects the changes in fair value of the financial liability between the measured periods.

F-18

  Mobilicom Limited                               
  Notes to the consolidated financial statements  
  December 31, 2024                               

Note
6. Cost of sales

                                     Consolidated                                           
                                     2024                                                   
                                     $                                                      
  Salaries and benefits                                  409,905      139,407      154,705  
  Cost of materials                                      817,531      698,499      401,469  
  Occupancy and office expenses                           31,498       12,762       15,583  
  Other                                                   54,565       17,575       14,940  
  Depreciation                                            35,212       33,763       23,315  
                                                       1,348,711      902,006      610,012  

Note
7. Selling and marketing expenses

                                     Consolidated                                
                                             2024                                
                                                $                                
  Sal