Company: MOBBW
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001013762-25-003365
Chunk: 123

Company: Mobilicom Ltd
Filing Date: 2025-03-27
Form: 20-F
Item: Item 19
Chunk 123
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 and has threatened to continue to attack Israel. To date, none of the Company’s
employees are on active military reserve duty. Nevertheless, the Company’s product, research and development and business development
activities remain on track.

The financial statements were authorized for issue, in accordance with
a resolution of directors, on March 24, 2025. The directors have the power to amend and reissue the financial statements.

F-12

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

Note 1. General information (continued)

Liquidity analysis

These consolidated financial statements have been prepared on the assumption
that the Company will continue as a going concern, meaning it will continue in operation for the foreseeable future and will be able to
realize assets and discharge liabilities in the ordinary course of operations. As of December 31, 2024, the Company has not achieved positive
cash flow from operations and incurred a net loss of $8,010,358for the year ended December 31, 2024, and generated $30,391,402of accumulated
losses since inception. The Company estimates that it has adequate financial resources for the foreseeable future based on its current
cash and trade receivable balances and its ongoing operations. Until the Company can generate significant recurring revenues, profit and
cash flow provided by operating activity it expects to satisfy future cash needs through debt or equity financing as well as governmental
grants. In the event that the Company requires additional financing, it may not be able to raise such financing on terms acceptable to
it or at all.

Note 2. Significant accounting policies

The principal accounting policies adopted in the preparation
of the financial statements are set out either in the respective notes or below. These policies have been consistently applied to all
the years presented, unless otherwise stated.

New or amended Accounting Standards and Interpretations adopted

The following amendments are effective for the period beginning January
1, 2024:

  Classification of Liabilities as Current or Non-Current and Non-current                                                                  
  Liabilities with Covenants (Amendments to IAS 1). The IASB issued amendments in January 2020 Classification of Liabilities as Current    
  or Non-current and subsequently, in October 2022 Non-current Liabilities with Covenants. These amendments had no material effect on the  
  consolidated financial statements of the Company.                                                                                        
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