Company: MOBBW
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001013762-25-003365
Chunk: 63

Company: Mobilicom Ltd
Filing Date: 2025-03-27
Form: 20-F
Item: Item 5
Chunk 63
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 6,626,352      $         5,391,769      $                      1,234,583  

Sales and Marketing expenses.

Sales and marketing expenses
were $2,088,200 for the year ended December 31, 2023, compared to $1,738,918 for the year ended December 31, 2021, an increase of $349,282
or 20%. The increase was primarily result of costs related with continued expansion under our target markets (U. S., Israel and Europe).

Research and Development
expenses.

Research and development expenses
were $1,936,802 for the year ended December 31, 2023, compared to $1,773,245 for the year ended December 31, 2022, an increase of $163,557
or 9%. The increase is mainly due to higher materials and subcontractors’ costs related with release of new products for mid-sized
long-range drones and research and development of future planned new products. Furthermore, the increase also resulted from an increase
in share-based compensation costs related with options granted in 2023 under our employee share option plan.

General and Administrative
expenses.

General and administrative
expenses were $2,256,408 for the year ended December 31, 2023, compared to $1,869,389 for the year ended December 31, 2022, an increase
of $387,019 or 21% The increase is primarily due to higher costs of operating as a public company following our listing on the Nasdaq
in August 2022 following our initial public offering in the United States as well as increase in U. S. operations under our U. S. subsidiary
and increase in share-based compensation costs related with options granted in 2023 under our employee share option plan.

Financial costs.

Financial costs were $14,734
for the year ended December 31, 2023, compared to $10,217 for the year ended December 31, 2022, an increase of $4,517 or 44%. Financial
costs are primarily related with interest paid under our lease agreements.

Fair value losses from
financial liability

Fair value losses from financial
liability were $330,208 for the year ended December 31, 2023, compared to $nil for the year ended December 31, 2022. Fair value losses
from financial liability are attributed to revaluation gain/(loss) between measured periods related