Company: MOBBW
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001013762-25-003365
Chunk: 120

Company: Mobilicom Ltd
Filing Date: 2025-03-27
Form: 20-F
Item: Item 19
Chunk 120
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the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial
statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged
to perform, an audit of its internal control over financial reporting. As part of our audits, we are required to obtain an understanding
of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company’s
internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material
misstatement of the consolidated financial statements, whether due to error or fraud, and performing procedures that respond to those
risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated financial
statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as
evaluating the overall presentation of the consolidated financial statements. We believe that our audits provide a reasonable basis for
our opinion.

We have served as the Company’s auditor since 2021.

                        /s/ Ziv Haft                         
  Tel-Aviv, Israel      Ziv Haft                             
  March 27, 2025        Certified Public Accountants (Isr.)  
                        BDO Member Firm                      

F-2

  Mobilicom Limited                                                                
  Consolidated statements of profit or loss and other comprehensive income (loss)  
  For the year ended December 31, 2024                                             
 ───────────────────────────────────────────────────────────────────────────────────

                                                                                       Consolidated                                                     
                                                                             Note      2024                                                             
                                                                                       $                                                                
  Revenue                                                                       4                          3,180,565        2,193,791        1,616,612  
  Cost of sales                                                                 6                        ( 1,348,711        ( 902,006        ( 610,012  
  Government grants                                                             5                            187,718          197,041          641,233  
  Interest received                                                           2,5                            269,771          293,478          117,296  
  Foreign exchange gains                                                                                     203,593          359,218          848,575  
  Fair value gains from financial liability                                     5                                  -                -        2,550,563  
  Expenses                                                                                                                                              
  Selling and marketing expenses