Exhibit No.
|
Description
|
Exhibit 99.3 |
|
Exhibit 99.7 |
|
Exhibit 99.9 |
Appendix 4D |
NOVONIX LIMITED
|
||
By:
|
/s/ Robert J. Natter
|
|
Robert J. Natter
|
||
Chairman
|
||
NOVONIX LIMITED
|
||
By:
|
/s/ Suzanne Yeates
|
|
Suzanne Yeates
|
||
Corporate Secretary
|
Directors
|
A Bellas B.Econ, DipEd, MBA, FAICD, FCPA, FGS
T St Baker AO, Hon DEng, BEng, BA, FIEA, FAIE
R Cooper BE (Mining), MEngSc, MAusIMM, MAICD
Z Golodryga
Admiral R J Natter, US Navy (Ret.)
Andrew N. Liveris AO, BE (Hons) Doctor of Science (honoris causa)
|
Secretary
|
S M Yeates CA, B.Bus
|
Registered office in Australia
|
McCullough Robertson
Level 11, Central Plaza Two
66 Eagle Street
Brisbane QLD 4000
|
Principal place of business
|
Level 8, 46 Edward Street
Brisbane QLD 4000
|
Share register
|
Link Market Services Limited
Level 21, 10 Eagle Street
Brisbane QLD 4000
www.linkmarketservices.com.au
|
Auditor
|
PricewaterhouseCoopers
480 Queen Street
Brisbane QLD 4000
www.pwc.com.au
|
Solicitors
|
Allens Linklaters
Level 26
480 Queen Street
Brisbane QLD 4000
|
Bankers
|
Commonwealth Bank of Australia
|
Stock exchange listing
|
NOVONIX Limited shares are listed on the Australian Securities Exchange (ASX) and American Depositary Receipts (ADR’s) are listed on the Nasdaq Stock Market.
|
Website address
|
www.novonixgroup.com
|
NET ASSETS
as at 31 Dec. 2021
$374,048,942
As at 30 June 2021:
$184,395,802
|
CASH & CASH EQUIVALENTS
as at 31 Dec. 2021
$259,504,802
As at 30 June 2021:
$136,663,976
|
STATUTORY AFTER-TAX LOSS
half-year ended 31 Dec. 2021
$28,847,413
Half-year ended 31 Dec 2020: $10,767,755
|
STRATEGIC HIRES
1 July 2021
On 1 July 2021, Professor Jeff Dahn joined as Chief Scientific Advisor. In this capacity, Professor Dahn will provide advice with respect to NOVONIX initiatives across its battery materials and research
businesses as well as key customer and business development projects.
|
|
NEW FACILITY IN TENNESSEE
28 JULY 2021
In July 2021, NOVONIX announced it closed on the purchase of a 400,000+ square-foot facility in Chattanooga, Tennessee that is planned to be the site for expansion to at least 10,000 tonnes per year of production capacity.
|
|
PHILLIPS 66 ANNOUNCES STRATEGIC INVESTMENT IN NOVONIX
9 AUGUST 2021
In August 2021, Phillips 66 (NYSE: PSX) announced it entered into an agreement to acquire a 16% stake in NOVONIX expanding PSX’s presence in the battery supply chain and advancing NOVONIX’s production of synthetic graphite for
high-performance lithium-ion batteries.
|
|
INDEX INCLUSION
3 SEPTEMBER 2021
In September 2021, NOVONIX announced that it had been added to the constituents of the S&P/ASX 300 Index.
|
|
BOARD ADDITION
20 OCTOBER 2021
In October 2021, Zhanna Golodryga was appointed to NOVONIX’s Board of Directors in accordance with PSX’s right to nominate a Director pursuant to their strategic investment in NOVONIX. Ms. Golodryga is the Senior Vice President,
Digital and Administrative Officer for PSX.
|
|
NEW FACILITY GRAND OPENING
22 NOVEMBER 2021
In November 2021, U.S. Secretary of Energy Jennifer M. Granholm, along with federal, state and local officials, celebrated the opening of NOVONIX’s new facility in Chattanooga, Tennessee, where the company will produce high-capacity
long-life synthetic graphite anode material. To our knowledge, NOVONIX is the only company with plans to bring large scale production of synthetic graphite to the U.S.
|
NGEN SUPPORTS BATTERY MATERIALS DEVELOPMENT CAPABILITIES
8 DECEMBER 2021
In December 2021, NOVONIX announced it received CAD$1.675 million from Next Generation Manufacturing Canada (NGen) to play a key role in building its Canadian battery materials supply chain. NGen is the industry-led organisation behind
Canada’s Advanced Manufacturing Supercluster.
|
|
RESULTS OF ENVIRONMENTAL IMPACT STUDY
20 DECEMBER 2021
In December 2021, NOVONIX announced that the preliminary results from an assessment by Minviro, an independent globally recognised sustainability and life cycle assessment consultancy firm, show NOVONIX Anode Material’s GX-23 synthetic
graphite product offers an approximate 60% decrease in CO2 emissions in a lifecycle assessment.
|
NOVONIX AND PHILLIPS 66 SIGN TECHNOLOGY DEVELOPMENT AGREEMENT TO ADVANCE PRODUCTION OF LITHIUM-ION BATTERIES IN NORTH AMERICA
19 JANUARY 2022
In January 2022, NOVONIX and Phillips 66 announced the signing of a technology development agreement to advance the production and commercialisation of anode
materials for lithium-ion batteries. Under the agreement, Phillips 66 and NOVONIX will leverage leading positions in their respective industries — as well as existing intellectual property and R&D capabilities — to drive commercial
development of optimised feedstocks and lithium-ion anode materials with reduced carbon-intensive processing.
|
|
NOVONIX ANNOUNCES INVESTMENT AND SUPPLY AGREEMENT WITH KORE POWER
24 JANUARY 2022
In January 2022, NOVONIX announced the execution of definitive transaction agreements and closing of its investment and supply agreements with KORE Power, Inc. (“KORE Power”) to advance and strengthen the domestic lithium-ion battery
supply chain. Through this partnership:
|
• |
NOVONIX became the exclusive supplier of graphite anode material to KORE Power
|
• |
The company entered a five-year supply agreement for an initial 3,000 tonnes per annum beginning 2024
|
o |
Subject to customer requirements, supply can ramp to 12,000 tonnes per annum
|
• |
NOVONIX acquired an approximate 5% stake in KORE Power with USD $25 million consideration paid in a combination of 50% cash and 50% NVX shares
|
COMMENCES TRADING ON NASDAQ THROUGH LEVEL II ADR PROGRAM
1 FEBRUARY 2022
In February 2022, NOVONIX announced its American Depositary Receipts (“ADRs”) commenced trading on the Nasdaq Stock Market (‘Nasdaq’) and its registration statements on Form 20-F and F-6 have been declared effective by the U.S.
Securities and Exchange Commission.
|
Tenement
|
Permit Holder
|
Grant date
|
NVX
Rights
|
Expiry date
|
EPM 26025
|
Exco Resources Limited
|
14/12/2015
|
100%
(Sub-Blocks Normanton 3123 D, J, N, O and S)
|
13/12/2025
|
EPM 17323
|
MD South Tenements Pty Ltd (Subsidiary of NOVONIX Limited)
|
20/10/2010
|
100%
|
19/10/2022
|
EPM 17246
|
MD South Tenements Pty Ltd
|
26/10/2010
|
100%
|
25/10/2022
|
(a) |
Entered into a Securities Purchase Agreement and a Supply Agreement with KORE Power on 31 January 2022.
|
(b) |
Commenced trading on the Nasdaq Stock Market (Nasdaq) and its registration statements on Form 20-F and F-6 have been declared effective by the US Securities and Exchange Commission. The Bank of New York Mellon
has been appointed depositary, custodian and registrar for the Level II ADR program.
|
Michael Shewan
|
Brisbane
|
Partner
|
25 February 2022
|
PricewaterhouseCoopers
|
Consolidated Statement of profit or loss and other comprehensive income
|
15 |
Consolidated Balance Sheet
|
16 |
Consolidated Statement of changes in equity
|
17 |
Consolidated Statement of cash flows
|
18 |
Notes to the consolidated financial statements
|
19 |
Directors’ declaration
|
36 |
Preparation of interim financial statements for users in multiple jurisdictions
|
37 |
Independent auditor’s review report
|
38 |
Appendix 4D
|
40 |
Registered office
|
Principal place of business
|
c/- McCullough Robertson
|
Level 8, 46 Edward Street
|
Central Plaza Two
|
Brisbane QLD 4000
|
Level 11, 66 Eagle Street
|
|
Brisbane QLD 4000
|
Consolidated Half-year
|
||||||||||||
Notes
|
2021
$
|
2020
$
|
||||||||||
Revenue from contracts with customers
|
2
|
4,001,117
|
2,325,541
|
|||||||||
Other income
|
1,080,827
|
408,759
|
||||||||||
Cost of goods sold (exclusive of depreciation presented separately)
|
2
|
(821,197
|
)
|
(301,195
|
)
|
|||||||
Employee benefits expense
|
(5,449,619
|
)
|
(1,871,571
|
)
|
||||||||
Administrative and other expenses
|
(5,020,953
|
)
|
(1,418,169
|
)
|
||||||||
Borrowing costs
|
(863,938
|
)
|
(101,473
|
)
|
||||||||
Depreciation and amortisation expenses
|
(2,452,465
|
)
|
(782,396
|
)
|
||||||||
Marketing and project development costs
|
(2,766,375
|
)
|
(1,683,953
|
)
|
||||||||
Nasdaq listing related expenses
|
3
|
(4,515,876
|
)
|
-
|
||||||||
Share based compensation
|
13
|
(11,777,421
|
)
|
(3,628,805
|
)
|
|||||||
Impairment of plant and equipment
|
-
|
(2,738,138
|
)
|
|||||||||
Foreign currency loss
|
(261,513
|
)
|
(976,335
|
)
|
||||||||
Loss before income tax expense
|
(28,847,413
|
)
|
(10,767,755
|
)
|
||||||||
Income tax expense
|
-
|
-
|
||||||||||
Loss for the period
|
(28,847,413
|
)
|
(10,767,755
|
)
|
||||||||
Other comprehensive (loss)/income for the period, net of tax
|
||||||||||||
Foreign exchange differences on translation of foreign operations
|
2,169,511
|
(3,318,445
|
)
|
|||||||||
Total comprehensive loss for the period
|
(26,677,902
|
)
|
(14,086,200
|
)
|
||||||||
Cents
|
Cents
|
|||||||||||
Earnings per share for loss attributable to the ordinary equity holders of the Company:
|
||||||||||||
Basic earnings per share
|
11
|
(6.50 cents)
|
(3.08 cents)
|
|||||||||
Diluted earnings per share
|
11
|
(6.50 cents)
|
(3.08 cents)
|
Consolidated
|
||||||||||||
Notes
|
31 December 2021
$
|
30 June
2021
$
|
||||||||||
ASSETS
|
||||||||||||
Current assets
|
||||||||||||
Cash and cash equivalents
|
259,504,802
|
136,663,976
|
||||||||||
Trade and other receivables
|
3,537,024
|
2,042,963
|
||||||||||
Inventory
|
3,806,745
|
2,780,373
|
||||||||||
Prepayments
|
790,214
|
2,538,207
|
||||||||||
Other current assets
|
4
|
18,142,500
|
-
|
|||||||||
Total current assets
|
285,781,285
|
144,025,519
|
||||||||||
Non-current assets
|
||||||||||||
Property, plant and equipment
|
5
|
125,305,770
|
31,578,445
|
|||||||||
Exploration and evaluation assets
|
6
|
3,177,356
|
3,108,073
|
|||||||||
Right-of-use assets
|
7,360,307
|
7,406,943
|
||||||||||
Intangible assets
|
7
|
17,014,559
|
16,581,709
|
|||||||||
Other assets
|
232,881
|
156,584
|
||||||||||
Total non-current assets
|
153,090,873
|
58,831,754
|
||||||||||
Total assets
|
438,872,158
|
202,857,273
|
||||||||||
LIABILITIES
|
||||||||||||
Current liabilities
|
||||||||||||
Trade and other payables
|
3,243,997
|
4,356,556
|
||||||||||
Contract liabilities
|
9
|
221,786
|
310,102
|
|||||||||
Lease liabilities
|
444,533
|
410,792
|
||||||||||
Borrowings
|
8
|
1,371,451
|
277,060
|
|||||||||
Total current liabilities
|
5,281,767
|
5,354,510
|
||||||||||
Non-current liabilities
|
||||||||||||
Contract liabilities
|
9
|
4,130,712
|
-
|
|||||||||
Lease liabilities
|
7,130,810
|
7,120,396
|
||||||||||
Borrowings
|
8
|
48,279,927
|
5,986,565
|
|||||||||
Total non-current liabilities
|
59,541,449
|
13,106,961
|
||||||||||
Total liabilities
|
64,823,216
|
18,461,471
|
||||||||||
Net assets
|
374,048,942
|
184,395,802
|
||||||||||
EQUITY
|
||||||||||||
Contributed equity
|
10
|
441,176,548
|
233,196,507
|
|||||||||
Reserves
|
43,653,068
|
33,132,556
|
||||||||||
Accumulated losses
|
(110,780,674
|
)
|
(81,933,261
|
)
|
||||||||
Total equity
|
374,048,942
|
184,395,802
|
Reserves
|
||||||||||||||||||||||||
Consolidated Group
|
Contributed
equity
$
|
Accumulated
losses
$
|
Share based
payments
reserve
$
|
Foreign
currency
translation
reserve
$
|
Convertible
loan note
reserve
$
|
Total
$
|
||||||||||||||||||
Balance at 1 July 2020
|
99,851,510
|
(63,857,184)
|
22,817,908
|
1,500,247
|
6,219,812
|
66,532,293
|
|
|||||||||||||||||
Loss for the period
|
-
|
(10,767,755
|
) |
-
|
-
|
-
|
(10,767,755
|
) | ||||||||||||||||
Other comprehensive loss
|
-
|
-
|
-
|
(3,318,445
|
)
|
-
|
(3,318,445
|
)
|
||||||||||||||||
Total comprehensive loss
|
-
|
(10,767,755
|
)
|
-
|
(3,318,445
|
)
|
-
|
(14,086,200
|
)
|
|||||||||||||||
Transactions with owners in their capacity as owners:
|
||||||||||||||||||||||||
Contributions of equity, net of transaction costs
|
3,749,887
|
-
|
-
|
-
|
-
|
3,749,887
|
||||||||||||||||||
Share-based payments
|
-
|
-
|
2,375,959
|
-
|
-
|
2,375,959
|
||||||||||||||||||
Balance at 31 December 2020
|
103,601,397
|
(74,624,939
|
)
|
25,193,867
|
(1,818,198
|
)
|
6,219,812
|
58,571,939
|
Balance at 1 July 2021
|
233,196,507
|
(81,933,261
|
)
|
27,513,594
|
(600,850
|
)
|
6,219,812
|
184,395,802
|
||||||||||||||||
Loss for the period
|
-
|
(28,847,413
|
)
|
-
|
-
|
-
|
(28,847,413
|
)
|
||||||||||||||||
Other comprehensive loss
|
-
|
-
|
-
|
2,169,511
|
-
|
2,169,511
|
||||||||||||||||||
Total comprehensive loss
|
-
|
(28,847,413
|
)
|
-
|
2,169,511
|
-
|
(26,677,902
|
)
|
||||||||||||||||
Transactions with owners in their capacity as owners:
|
||||||||||||||||||||||||
Contributions of equity, net of transaction costs
|
207,980,041
|
-
|
-
|
-
|
-
|
207,980,041
|
||||||||||||||||||
Share-based payment transactions (note 13)
|
-
|
-
|
8,351,001
|
-
|
-
|
8,351,001
|
||||||||||||||||||
Balance at 31 December 2021
|
441,176,548
|
(110,780,674
|
)
|
35,864,595
|
1,568,661
|
6,219,812
|
374,048,942
|
Consolidated Half-year
|
||||||||
Notes
|
2021
$
|
2020
$
|
||||||
Cash flows from operating activities
|
||||||||
Receipts from customers (inclusive of consumption tax)
|
4,366,184
|
2,402,475
|
||||||
Payments to suppliers and employees (inclusive of consumption tax)
|
(23,864,073
|
)
|
(6,740,601
|
)
|
||||
Interest received
|
2,515
|
3,211
|
||||||
Borrowing costs paid
|
(852,130
|
)
|
(80,314
|
)
|
||||
Government grants received
|
4,613,487
|
389,412
|
||||||
Income taxes paid
|
-
|
-
|
||||||
Net cash outflow from operating activities
|
(15,734,017
|
)
|
(4,025,817
|
)
|
||||
Cash flows from investing activities
|
||||||||
Payments for property, plant and equipment
|
(94,085,691
|
)
|
(8,440,868
|
)
|
||||
Payment of escrow funds
|
(19,880,785
|
)
|
-
|
|||||
Proceeds from release of escrow funds
|
1,839,795
|
-
|
||||||
Payments for security deposits
|
(207,879
|
)
|
-
|
|||||
Payments for exploration assets
|
(59,283
|
)
|
(87,698
|
)
|
||||
Net cash outflow from investing activities
|
(112,393,843
|
)
|
(8,528,566
|
)
|
||||
Cash flows from financing activities
|
||||||||
Proceeds from share issues
|
208,138,475
|
-
|
||||||
Payment of share issue expenses
|
(158,433
|
)
|
(2,052,900
|
)
|
||||
Proceeds from the exercise of options
|
-
|
2,300,000
|
||||||
Proceeds from borrowings
|
43,524,385
|
-
|
||||||
Principal elements of lease payments
|
(208,613
|
)
|
(68,977
|
)
|
||||
Repayment of borrowings
|
(411,435
|
)
|
(25,108
|
)
|
||||
Net cash inflow from financing activities
|
250,884,379
|
153,015
|
||||||
Net decrease in cash and cash equivalents
|
122,756,519
|
(12,401,368
|
)
|
|||||
Effects of foreign currency
|
84,307
|
(1,121,124
|
)
|
|||||
Cash and cash equivalents at the beginning of the year
|
136,663,976
|
38,807,662
|
||||||
Cash and cash equivalents at the end of the half-year
|
259,504,802
|
25,285,170
|
Note 1
|
Basis of preparation
|
a) |
Going Concern
|
Note 1 |
Basis of preparation (continued)
|
b) |
Historical cost convention
|
c)
|
New and amended standards adopted by the Group
|
d)
|
Critical accounting estimates
|
Note 2
|
Segment and revenue reporting
|
a. |
Accounting policies adopted
|
b. |
Segment assets
|
c. |
Segment liabilities
|
d. |
Unallocated items
|
- |
Interest income
|
- |
Corporate administrative and other expenses
|
- |
Income tax expense
|
- |
Corporate share-based payment expenses
|
- |
Corporate marketing and project development expenses
|
- |
Corporate cash and cash equivalents
|
- |
Security deposits
|
- |
Corporate trade and other payables
|
- |
Corporate trade and other receivables
|
Note 2
|
Segment information (continued)
|
2021
|
Battery
Technology
$
|
Battery
Materials
$
|
Graphite
Exploration
and Mining
$
|
Unallocated
$
|
Total
$
|
|||||||||||||||
Sales of goods revenue
|
1,745,229
|
1,835
|
-
|
-
|
1,747,064
|
|||||||||||||||
Services revenue
|
2,254,053
|
-
|
-
|
-
|
2,254,053
|
|||||||||||||||
Other income
|
585,182
|
493,130
|
2,515
|
1,080,827
|
||||||||||||||||
Total group revenue and other income
|
4,584,464
|
494,965
|
2,515
|
5,081,944
|
||||||||||||||||
Segment net loss from continuing operations before tax
|
(2,344,143
|
)
|
(11,742,747
|
)
|
-
|
(14,760,523
|
)
|
(28,847,413
|
)
|
2020
|
Battery
Technology
$
|
Battery
Materials
$
|
Graphite
Exploration
and Mining $
|
Unallocated
$
|
Total
$
|
|||||||||||||||
Sales of goods revenue
|
546,661
|
-
|
-
|
-
|
546,661
|
|||||||||||||||
Services revenue
|
1,778,880
|
-
|
-
|
-
|
1,778,880
|
|||||||||||||||
Other income
|
308,116
|
16,128
|
-
|
84,515
|
408,759
|
|||||||||||||||
Total group revenue and other income
|
2,633,657
|
16,128
|
-
|
84,515
|
2,734,300
|
|||||||||||||||
Segment net profit / (loss) from continuing operations before tax
|
68,461
|
(7,363,085
|
)
|
-
|
(3,473,131
|
)
|
(10,767,755
|
)
|
Battery
Technology $
|
Battery
Materials
$
|
Graphite
Exploration
and Mining
$
|
Unallocated
$
|
Total
$
|
||||||||||||||||
31 December 2021
|
21,555,800
|
159,575,753
|
3,188,306
|
254,552,299
|
438,872,158
|
|||||||||||||||
30 June 2021
|
13,990,451
|
47,899,929
|
3,116,523
|
137,850,370
|
202,857,273
|
Note 2
|
Segment information (continued)
|
Battery
Technology
$
|
Battery
Materials
$
|
Graphite
Exploration
and Mining
$
|
Unallocated
$
|
Total
$
|
||||||||||||||||
31 December 2021
|
9,030,774
|
54,851,893
|
-
|
940,549
|
64,823,216
|
|||||||||||||||
30 June 2021
|
7,440,067
|
9,277,070
|
-
|
1,744,334
|
18,461,471
|
Note 3
|
Nasdaq listing related expenses
|
|
$ | |||
Legal fees
|
3,860,436
|
|||
Accounting and Advisory fees
|
654,602
|
|||
Other
|
838
|
|||
4,515,876
|
Note 4
|
Current assets – Other assets
|
31 December
2021
$
|
30 June
2021
$
|
|||||||
Escrow reserves
|
18,142,500
|
-
|
||||||
Note 5
|
Non-current assets – Property, plant and equipment
|
31 December
2021
$
|
30 June
2021
$
|
|||||||
Plant and equipment – at cost
|
21,014,774
|
8,004,580
|
||||||
Plant and equipment – accumulated depreciation
|
(2,718,936
|
)
|
(1,818,257
|
)
|
||||
18,295,838
|
6,186,323
|
|||||||
Leasehold improvements – at cost
|
1,275,095
|
665,540
|
||||||
Leasehold improvements – accumulated depreciation
|
(286,497
|
)
|
(138,129
|
)
|
||||
988,598
|
527,411
|
|||||||
Buildings – at cost
|
63,735,003
|
6,283,383
|
||||||
Buildings – accumulated depreciation
|
(1,240,336
|
)
|
(225,838
|
)
|
||||
62,494,667
|
6,057,545
|
|||||||
Land – at cost
|
3,253,499
|
1,053,875
|
||||||
Construction work in progress – at cost
|
40,273,168
|
17,753,291
|
||||||
125,305,770
|
31,578,445
|
Note 5
|
Non-current assets – Property, plant and equipment (continued)
|
|
Land
$
|
Buildings
$
|
Leasehold
improvements
$
|
Plant and
equipment
$
|
Construction
work in
progress
$
|
Total
$
|
||||||||||||||||||
Half-year ended 31 December 2021
|
||||||||||||||||||||||||
Opening net book amount
|
1,053,875
|
6,057,545
|
527,411
|
6,186,323
|
17,753,291
|
31,578,445
|
||||||||||||||||||
Additions
|
2,156,542
|
56,552,896
|
583,835
|
3,541,844
|
31,608,975
|
94,444,092
|
||||||||||||||||||
Transfer of assets
|
21,260
|
526,420
|
-
|
9,240,582
|
(9,788,262
|
)
|
-
|
|||||||||||||||||
Disposals
|
-
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||
Assets written off
|
-
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||
Depreciation charge
|
-
|
(1,007,066
|
)
|
(142,906
|
)
|
(882,345
|
)
|
-
|
(2,032,317
|
)
|
||||||||||||||
Exchange differences
|
21,822
|
364,872
|
20,258
|
209,434
|
699,164
|
1,315,550
|
||||||||||||||||||
Closing net book amount
|
3,253,499
|
62,494,667
|
988,598
|
18,295,838
|
40,273,168
|
125,305,770
|
Note 6
|
Non-current assets – Exploration and evaluation assets
|
31 December
2021
$
|
30 June
2021
$
|
|||||||
Exploration and evaluation assets – at cost
|
3,177,356
|
3,108,073
|
||||||
The capitalised exploration and evaluation assets carried forward above have been determined as follows:
Balance at 1 July 2021
|
3,108,073
|
|||||||
Expenditure incurred during the half-year
|
69,283
|
|||||||
Balance as at 31 December 2021
|
3,177,356
|
Note 7
|
Non-current assets – Intangible assets
|
31 December
2021
$
|
30 June
2021
$
|
|||||||
Goodwill
|
16,488,458
|
15,950,624
|
||||||
Technology
|
526,101
|
631,085
|
||||||
17,014,559
|
16,581,709
|
Goodwill
$
|
Technology
$
|
Total
$
|
||||||||||
Balance at the beginning of the year
|
15,950,624
|
631,085
|
16,581,709
|
|||||||||
Exchange differences
|
537,834
|
20,573
|
558,407
|
|||||||||
Amortisation
|
-
|
(125,557
|
)
|
(125,557
|
)
|
|||||||
Balance at the end of the year
|
16,488,458
|
526,101
|
17,014,559
|
Note 8
|
Borrowings
|
31 December 2021
|
30 June 2021
|
|||||||||||||||||||||||
Current
$
|
Non-
Current
$
|
Total
$
|
Current
$
|
Non-
Current
$
|
Total
$
|
|||||||||||||||||||
Secured
|
||||||||||||||||||||||||
Bank loans (i)
|
1,203,751
|
47,535,999
|
48,739,750
|
110,752
|
5,297,180
|
5,407,932
|
||||||||||||||||||
Total secured borrowings
|
1,203,751
|
47,535,999
|
48,739,750
|
110,752
|
5,297,180
|
5,407,932
|
||||||||||||||||||
Unsecured
|
||||||||||||||||||||||||
Other loans (ii)
|
167,700
|
743,928
|
911,628
|
166,308
|
689,385
|
855,693
|
||||||||||||||||||
Total unsecured borrowings
|
167,700
|
743,928
|
911,628
|
166,308
|
689,385
|
855,693
|
||||||||||||||||||
Total borrowings
|
1,371,451
|
48,279,927
|
49,651,378
|
277,060
|
5,986,565
|
6,263,625
|
(a) |
In December 2017, the group entered into a loan facility to purchase commercial land and buildings in Nova Scotia from which the Battery Technology Solutions business operates. The initial amount loaned under the facility was CAD
$1,330,000.
|
(b) |
On 28 May 2021, the Group purchased commercial land and buildings in Nova Scotia, Canada for CAD$3,550,000 from which the Cathode business will operate. The Group
entered into a loan facility to purchase the land and buildings. The total available amount under the facility is CAD $4,375,000 and it has been fully drawn down as at 31 December 2021. The total liability at 31 December 2021 is CAD
$4,375,000.
|
Note 8
|
Borrowings (continued)
|
(c) |
On 28 July 2021, the Group purchased commercial land and buildings in Chattanooga, USA for USD $42,600,000 to expand the NAM business. The Group entered into a loan
facility with PNC Real Estate for USD$30,100,000 to purchase the land and buildings. The loan has been fully drawn down as at 31 December 2021. The total liability at 31 December 2021 is USD $29,874,538. The facility is repayable in
monthly instalments, which commenced in September 2021 and ending August 2031. The land and buildings at 1029 West 19th Street, Chattanooga, USA have been pledged as security for the loan, the carrying amount of which is
$57,607,103.
|
Note 8
|
Borrowings (continued)
|
Contractual
maturities
of financial
liabilities
|
Less
than 6
months
|
6 - 12
months
|
Between
1 and 2
years
|
Between
2 and 5
years
|
Over
5 years
|
Total
contractual
cash flows
|
Carrying
amount |
|||||||||||||||||||||
At 31 December 2021
Trade and other payables
|
3,243,997
|
-
|
-
|
-
|
-
|
3,243,997
|
3,243,997
|
|||||||||||||||||||||
Lease liabilities
|
373,185
|
383,329
|
778,867
|
2,369,370
|
5,857,608
|
9,762,359
|
7,575,343
|
|||||||||||||||||||||
Borrowings
|
645,389
|
726,060
|
1,487,463
|
4,658,443
|
42,049,244
|
49,566,599
|
49,651,378
|
|||||||||||||||||||||
Total non-derivatives
|
4,262,571
|
1,109,389
|
2,266,330
|
7,027,813
|
47,906,852
|
62,572,955
|
60,470,718
|
Note 9
|
Contract liabilities
|
31 December
2021
$
|
30 June
2021
$
|
|||||||
Contract liabilities – Current
|
221,786
|
310,102
|
||||||
Contract liabilities – Non-current
|
4,130,712
|
-
|
||||||
4,352,498
|
310,102
|
Note 10
|
Contributed equity
|
31 December
2021
Shares
|
30 June 2021
Shares
|
31 December
2021
$
|
30 June 2021
$
|
|||||||||||||
(a) Share capital
|
||||||||||||||||
Ordinary shares Fully paid
|
483,855,813
|
404,601,384
|
441,176,548
|
233,196,507
|
(b)
|
Ordinary share capital
|
Date
|
Details
|
Note
|
Number of
Shares
|
Issue
Price
|
$
|
|||||||||
1 July 2021
|
Balance
|
404,601,384
|
233,196,507
|
|||||||||||
30 September 2021
|
Placement shares
|
(d)
|
77,962,578
|
$
|
2.66
|
208,138,475
|
||||||||
14 December 2021
|
Exercise of performance rights
|
(c)
|
1,291,851
|
-
|
||||||||||
Share issue costs |
(158,434
|
)
|
||||||||||||
31 December 2021
|
Balance
|
483,855,813
|
441,176,548
|
(c)
|
Exercise of performance rights
|
(d)
|
Placement shares
|
(e) |
Capital Management
|
Note 11
|
Earnings per share
|
Consolidated
|
||||||||
2021
$
|
2020
$
|
|||||||
Earnings per share for loss from continuing operations
Loss after income tax attributable to the owners of NOVONIX Limited
|
(28,847,413
|
)
|
(10,767,755
|
)
|
Number
|
Number
|
|||||||
Weighted average number of shares used in calculating basic and diluted earnings per share
|
443,702,029
|
350,122,170
|
||||||
Cents
|
Cents
|
|||||||
Basic earnings per share
|
(6.50
|
)
|
(3.08
|
)
|
||||
Diluted earnings per share
|
(6.50
|
)
|
(3.08
|
)
|
Note 12
|
Related party transactions
|
(a) |
On 14 December 2021, 599,851 ordinary shares were issued to Key Management Personnel (Robert Natter 200,000, Anthony Bellas 200,000, Nick Liveris 107,851, Chris Burns 92,000) on the exercise of 800,000 performance rights. Both Nick
Liveris and Chris Burns exercised 200,000 performance rights, with the ordinary shares being settled on a net withholding tax basis (refer to Note 13(c)).
|
(b) |
On 14 December 2021, 600,000 ordinary shares were issued to Philip St Baker (a related party of Trevor St Baker) on the exercise of 600,000 performance rights.
|
Note 13
|
Share based payments
|
2021
$
|
||||
Share rights granted in current period (a)
|
789,940
|
|||
Performance rights granted in current period (b)
|
10,739,370
|
|||
Performance rights granted in prior year
|
151,056
|
|||
Options granted in prior year
|
97,055
|
|||
Share based payment expense
|
11,777,421
|
|||
Performance rights cash settled in current period (c)
|
(3,426,420
|
)
|
||
Movement in share based payments reserve
|
8,351,001
|
Note 13
|
Share based payments (continued)
|
(a)
|
Share rights granted in the current period
|
Name
|
Grant date
|
Number
|
Vesting date
|
Fair
value
|
Expiry
|
Expense recognised in
half year
$
|
|||||||||
Anthony Bellas
|
30 November 2021
|
66,000
|
30 June 2022
|
$
|
11.95
|
30 June 2023
|
115,329
|
||||||||
Andrew Liveris
|
30 November 2021
|
66,000
|
30 June 2022
|
$
|
11.95
|
30 June 2023
|
115,329
|
||||||||
Robert Cooper
|
30 November 2021
|
66,000
|
30 June 2022
|
$
|
11.95
|
30 June 2023
|
115,329
|
||||||||
Trevor St Baker
|
30 November 2021
|
66,000
|
30 June 2022
|
$
|
11.95
|
30 June 2023
|
115,329
|
||||||||
Greg Baynton
|
30 November 2021
|
27,500
|
30 June 2022
|
$
|
11.95
|
30 June 2023
|
328,624
|
1
|
|||||||
Total expense recognised
|
789,940
|
(c)
|
Performance rights granted in the current period
|
Note 13
|
Share based payments (continued)
|
Name
|
Grant date
|
Number
|
Vesting date
|
Fair
value
|
Expiry
|
Expense recognised in
half year
$
|
|||||||||
Rashda Buttar
|
6 October 2021
|
150,000
|
¼ 22 April 2022
¼ 22 April 2023
¼ 22 April 2024
¼ 22 April 2025
|
$
|
4.92
|
Cessation of employment
|
137,661
|
||||||||
Anthony Bellas
|
30 November 2021
|
200,000
|
30 November 2021
|
$
|
11.95
|
30 June 2022
|
2,390,000
|
||||||||
Robert Natter
|
30 November 2021
|
200,000
|
30 November 2021
|
$
|
11.95
|
30 June 2022
|
2,390,000
|
||||||||
Nick Liveris
|
30 November 2021
|
200,000
|
30 November 2021
|
$
|
11.95
|
30 June 2022
|
2,390,000
|
||||||||
Chris Burns
|
30 November 2021
|
200,000
|
30 November 2021
|
$
|
11.95
|
30 June 2022
|
2,390,000
|
||||||||
Non-KMP employees
|
1 July 2021
|
1,000,000
|
¼ 30 June 2022
¼ 30 June 2023
¼ 30 June 2024
¼ 30 June 2025
|
$
|
2.32
|
Cessation of employment
|
610,136
|
||||||||
Non-KMP employees
|
6 October 2021
|
220,000
|
4 equal annual tranches commencing on the anniversary of employment
|
$
|
4.92
|
Cessation of employment
|
175,494
|
||||||||
Non-KMP employees
|
6 December 2021
|
100,000
|
4 equal annual tranches commencing on the anniversary of employment
|
$
|
8.09
|
Cessation of employment
|
47,625
|
||||||||
Non-KMP employees
|
20 December 2021
|
15,589
|
4 equal annual tranches commencing on the anniversary of employment
|
$
|
8.88
|
Cessation of employment
|
2,172
|
||||||||
Non-KMP employees
|
6 October 2021
|
500,000
|
10 equal tranches linked to tonnages of anode material sold
|
$
|
4.92
|
Cessation of employment
|
206,282
|
||||||||
Total expense recognised
|
10,739,370
|
Note 13
|
Share based payments (continued)
|
(c)
|
Performance rights cash settled in the current period
|
Name
|
Vesting date
|
Performance
rights vested &
exercised |
Net settled
shares
|
Withholding
obligation
$
|
|||||||||
Chris Burns
|
30 November 2021
|
200,000
|
92,000
|
1,290,600
|
|||||||||
Nick Liveris
|
30 November 2021
|
200,000
|
107,851
|
1,101,180
|
|||||||||
Non-KMP employees
|
11 December 2021
|
200,000
|
92,000
|
1,034,640
|
|||||||||
Total
|
3,426,420
|
Note 14
|
Events occurring after the balance sheet date
|
(a)
|
Entered into a Securities Purchase Agreement and a Supply Agreement with KORE Power on 31 January 2022.
|
(b)
|
Commenced trading on the Nasdaq Stock Market (Nasdaq) and its registration statements on Form 20-F and F-6 have been declared effective by the US Securities and Exchange Commission. The Bank of New York
Mellon has been appointed depositary, custodian and registrar for the Level II ADR program.
|
● |
the attached financial statements and notes comply with the Corporations Act 2001, Australian Accounting Standard AASB 134 ‘Interim
Financial Reporting’, the Corporations Regulations 2001 and other mandatory professional reporting requirements;
|
● |
the attached financial statements and notes give a true and fair view of the consolidated entity’s financial position as at 31 December 2021 and of its performance for the financial half-year ended on that
date; and
|
● |
there are reasonable grounds to believe that the company will be able to pay its debts as and when they become due and payable.
|
1.
|
giving a true and fair view of the Group’s financial position as at 31 December 2021 and of its performance for the half-year ended on that date
|
2.
|
complying with Accounting Standard AASB 134 Interim Financial Reporting and the Corporations Regulations 2001.
|
Michael Shewan
|
Brisbane
|
Partner
|
25 February 2022
|
2021
$
|
2020
$
|
Change
$
|
Change
%
|
|||||||||||||
Revenue and other income from ordinary activities
|
5,081,944
|
2,724,300
|
2,357,644
|
86.5
|
%
|
|||||||||||
Loss before tax
|
(28,847,413
|
)
|
(10,767,755
|
)
|
(18,079,658
|
)
|
167.9
|
%
|
||||||||
Loss from ordinary activities after tax
|
(28,847,413
|
)
|
(10,767,755
|
)
|
(18,079,658
|
)
|
167.9
|
%
|
||||||||
Net loss for the period attributable to members
|
(28,847,413
|
)
|
(10,767,755
|
)
|
(18,079,658
|
)
|
167.9
|
%
|
2021
Cents
|
2020
Cents
|
|||||||
Basic earnings per share
|
(6.50
|
)
|
(3.08
|
)
|
||||
Diluted earnings per share
|
(6.50
|
)
|
(3.08
|
)
|
||||
2021
$
|
2020
$
|
|||||||
Net tangible asset1 backing per ordinary share
|
0.74
|
0.48
|