Company: MOBBW
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001013762-25-003365
Chunk: 61

Company: Mobilicom Ltd
Filing Date: 2025-03-27
Form: 20-F
Item: Item 5
Chunk 61
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2023                                                         2022                     Increase/Decrease                  
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Revenue                                        $                                             2,193,791      $         1,616,612      $                         577,179  
  Other income:                                                                                                                                                           
  Government grants from IIA                                                                     197,041                  641,233                               (444,192  
  Interest income                                                                                293,478                  117,296                                176,182  
  Foreign exchange gains                                                                         359,217                  848,575                               (489,358  
  Fair value gains from financial liability                                                            -                2,550,563                             (2,550,563  
  Total Revenue and Other income                 $                                             3,043,527      $         5,774,279      $                      (2,730,752  

Revenue

Revenues for the year ended
December 31, 2023, were $2,193,791, compared to $1,616,612 for the year ended December 31, 2022, an increase of $577,179 or 36%. The increase
is mainly due to entering initial scaled production by a few of our Tier-1 customers and increased orders and delivery primarily for defense
purposes.

Government grants from
IIA

Grants received under IIA
research and development supported programs for the year ended December 31, 2023, were $197,041, compared to $641,233 for the year ended
December 31, 2022 a decrease of $(444,192) or (69)%.

Interest income

Interest income from short-term bank deposits,
for the year ended December 31, 2023, was $293,478, compared to $117,296 for the year ended December 31, 2022, an increase of $176,182
or 150%.
The increase is mainly attributed to interest income received on the proceeds from our initial public offering
in the United States in August 2022.

Foreign Exchange gains

Foreign exchange gains were
$359,217 for the year ended December 31, 2023, compared to $848,575 for the year ended December 31, 2022 a decrease of $(489,358) or (58)%.
Foreign exchange costs are mainly due to the effect of changes in currency exchange rates between the US$., the New Israeli