Company: MOBBW
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001013762-25-003365
Chunk: 38

Company: Mobilicom Ltd
Filing Date: 2025-03-27
Form: 20-F
Item: Item 3
Chunk 38
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 by individuals who are U. S. holders, and having
interest charges apply to distributions by us and gains from the sales of our shares.

Our
status as a PFIC will depend on the nature and composition of our income and the nature, composition and value of our assets (which, assuming
we are not a “controlled foreign corporation,” or a CFC, under Section 957(a) of the Internal Revenue Code of 1986, as amended,
or the Code, for the year being tested, may be determined based on the fair market value of each asset, with the value of goodwill and
going concern value determined in large part by reference to the market value of our ordinary shares, which may be volatile). Based primarily
on the composition of our assets, it is possible that we were a PFIC for our tax year ending December 31, 2024, and for subsequent tax
years. Further, because the determination of whether we are a PFIC for any taxable year is a factual determination made annually after
the end of each taxable year, there can be no assurance that we will not be considered a PFIC in any taxable year.

The
tax consequences that would apply if we are classified as a PFIC would also be different from those described above if a U. S. holder of
our ordinary shares or ADSs was able to make a valid qualified electing fund, or QEF election. If the U. S. Internal Revenue Service, or
the IRS, determines that we are a PFIC for a year with respect to which we have determined that we were not a PFIC, it may be too late
for a U. S. taxpayer to make a timely QEF or mark-to-market election. U. S. taxpayers that have held our ADSs or our ordinary shares during
a period when we were a PFIC will generally be subject to the foregoing rules unless we cease to be a PFIC and you make a “deemed
sale” election with respect our ordinary shares. If we are a PFIC in any year, U. S. taxpayers may be subject to additional IRS filing
requirements, including the filing of IRS Form 8621, as a result of directly or indirectly owning stock of a PFIC. We do not intend to
notify U. S. taxpayers that hold our ADSs or our ordinary shares if we believe we will be treated as a PFIC for any taxable year in order
to enable U. S. taxpayers to consider whether to