One Click Group Limited
Appendix 4E
Preliminary final report
Name of entity: One Click Group Limited
ABN: 52 616 062 072
Reporting period: Year ended 31 December 2023
Previous period: Year ended 31 December 2022
Results for announcement to the market
Revenues from ordinary activities
Loss from ordinary activities after tax attributable to the owners of One Click
Group Limited
up
138%
Down
62%
to
to
$000
3,853
(2,599)
Loss for the year attributable to the owners of One Click Group Limited
Down
62%
to
(2,599)
Dividends
There were no dividends paid, recommended or declared during the current financial period.
Comments
The operating loss for the Company after providing for income tax amounted to $2,599,477 (31 December 2021: loss of $6,907,854).
Net tangible assets
Net tangible assets per ordinary security (cents)
Reporting
period
Cents
Previous
period
Cents
0.16
0.36
Attachments
Additional Appendix 4E disclosure requirements can be found in the directors’ report and the 31 December 2023 financial
statements and accompanying notes.
This report is based on the financial statements which have been audited by RSM Australia Partners.
Signed
___________________________
Winton Willesee
Director
28 February 2024
ONE CLICK GROUP LIMITED
ACN 616 062 072
ANNUAL REPORT - 31 DECEMBER 2023
CONTENTS
CORPORATE DIRECTORY
DIRECTORS’ REPORT
AUDITOR’S INDEPENDENCE DECLARATION
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
CONSOLIDATED STATEMENT OF CASH FLOWS
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
DIRECTORS’ DECLARATION
INDEPENDENT AUDIT REPORT
ASX ADDITIONAL INFORMATION
PAGE
3
4
28
29
30
31
33
34
65
66
69
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 2
CORPORATE DIRECTORY
DIRECTORS
COMPANY SECRETARY
REGISTERED OFFICE
PRINCIPAL PLACE OF BUSINESS
AUDITORS
SOLICITORS
SHARE REGISTRY
HOME EXCHANGE
Russell Baskerville (Non-Executive Chairman)
Mark Waller (Managing Director)
Winton Willesee (Non-Executive Director)
Nathan Kerr (Executive Director)
Erlyn Dawson
Suite 5 CPC, 145 Stirling Highway
NEDLANDS WA 6009
Telephone: (08) 9389 3160
Website: https://oneclickgroup.com.au/
Email: hello@oneclicklife.com.au
57 Forrest Street
Subiaco
WA 6008
RSM Australia Partners
Level 32
Exchange Tower
2 The Esplanade
PERTH WA 6000
Steinepreis Paganin
Level 4, 16 Milligan Steet
Perth WA 6000
Computershare Investor Services Pty Limited
Level 11,172 St Georges Terrace
PERTH WA 6000
Telephone: (08) 6188 0800
Australian Securities Exchange Ltd
Exchange Plaza
Level 40, Central Park
152-158 St Georges Terrace
PERTH WA 6000
ASX Code: 1CG and ICGOA
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 3
DIRECTORS’ REPORT
The Directors present their report together with the financial report of One Click Group Limited and its controlled
entities (Group) for the financial year ended 31 December 2023 and the Auditor’s Report thereon.
BOARD OF DIRECTORS
The names and details of the Directors in office during the financial period and until the date of this report are set out
below.
Russell Baskerville Non-Executive Chairman
Mark Waller
Managing Director
Winton Willesee Non-Executive Director
Nathan Kerr
Executive Director
PRINCIPAL ACTIVITIES
The principal activities of the Group during the financial year were providing online taxation preparation (and other life
administration) software and services in Australia, offering a range of other financial services.
DIVIDENDS PAID OR RECOMMENDED
The Directors of the Company do not recommend the payment of a dividend in respect of the current financial year
ended 31 December 2023 (2022: Nil).
OPERATING RESULTS
The consolidated Group’s net loss after providing for income tax for the year ended 31 December 2023 amounted to
$2,599,477 (31 December 2022: $6,907,854).
REVIEW OF OPERATIONS
2023 marked the first full financial year of being ASX listed for One Click Group. Since listing the Company has continued
to execute on it’s business plan.
In it’s first full year of being listed the business was able to materially grow revenues to $3.9m which is 2.4 times the
2022 revenue of $1.6m. Importantly the revenue at this level covers the running costs of the Company excluding
marketing costs which are designed to increase revenue further. This is demonstrating the scalability of the business
model employed by the Company.
One Click Group consists of two fintech platforms; One Click Life and One Click Verify.
One Click Life www.oneclicklife.com.au
One Click Life is creating a financial hub for individuals to manage all their life’s finances in a simple, low-cost format
from their mobile phone. One Click Life has over 120k registered users and growing rapidly with user numbers increasing
by almost 55k users last calendar year.
One Click Verify www.oneclickverify.com.au
One Click Verify is a digital identity verification platform allowing businesses to digitally identity their customers as part
of an onboarding or transaction process. One Click Verify has a growing number of customers using the platform to
digitally identify their clients.
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 4
DIRECTORS’ REPORT
Financial Review
The key focus of 2023 was increasing the registered user numbers on the One Click Life platform and generating revenue
from both existing and new users through the completion of an online tax return. During this time we were also able to
focus on expanding the product suite and commence building out annuity revenue streams through additional products
offered on the One Click Life platform and the One Click Verify platform. This has seen revenue expand to a record
$3.9m in 2023 ($1.6m 2022).
Operating expenses for 2023 totalled $3.4m creating a $0.5m operating margin before marketing expenses for the year.
Marketing expenses for 2023 totalled $2.3m. Importantly with the marketing efforts we were able to grow revenue by
$2.3m when compared to 2022.
The resultant EBITDA loss was $1.9m in 2023.
Revenue
Operating Expenses
Margin After Opex
Marketing Expenses
EBITDA/(Loss)
$(‘000)
3,853
3,401
452
2,347
(1,895)
The financial summary above further validates the business model employed by the Company. That is to continue to
increase revenue via marketing spend while the business model does not require a material increase in operating
expenditure each year as the products offered on the One Click Life platform are not labour intensive and are designed
to be delivered in a scalable format.
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 5
DIRECTORS’ REPORT
One Click Life
One Click Life is creating a financial hub for individuals to manage all their life’s finances in a simple, low-cost format
from their mobile phone.
We will continue to expand the products available on the One Click Life platform. The aim in bringing new products to
market is to allow our customers to manage all of their financial lives in a simple, low-cost format from their mobile
phones. We will also continue to optimise the suite of products already available on the One Click Life platform in an
ongoing continuous improvement cycle.
One Click Life is designed with three core modules, our competencies.
Module 1 Individual Tax Returns. Our tax products are mature and are the reason most new users register on the one
Click Life platform. We will continue to invest in the quality of this product given the opportunity we have to impress
our customers in their first interaction with us.
Module 2 is our Lending competency. This commenced generating revenue in the June quarter of 2023. The product is
now receiving regular personal loan, car finance and mortgage applications solely from the platform’s existing user base.
We will continue to improve the products available within this module and we anticipate this will continue to contribute
towards improving Average Revenue Per User on the platform.
Module 3, under construction, is Financial Services and is set to be the third core competency of the One Click Life
platform. This will encompass superannuation, investing and associated products and services. Work has commenced
to create this competency and we currently derive small amounts of revenue from the products that are live in this
module.
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 6
DIRECTORS’ REPORT
Across the One Click Life platform we seeing a rapid growth in user numbers as well as Average Revenue Per User (ARPU)
and subsequently revenue.
In 2023 we saw user numbers grow by almost 55k with ARPU growing from $25 to $32 in the space of 12 months as a
result of the introduction of new products to the One Click Life platform. The continuing expansion of both the products
available on the platform and the users on the platform is expected to continue to grow the revenue for this platform.
One Click Verify
In response to the requirement for the One Click Life platform to identify its tax customers, during its development
phase, the Company established a digital identity verification product within the One Click Life platform. Upon
developing a very succinct customer onboarding process, it was decided to replicate this part of the One Click Life
onboarding experience into its own platform, One Click Verify, capable of being commercialised.
One Click Verify is an all-in-one identity verification platform that makes it simple for businesses to engage in commerce
with their customers digitally via mobile, desktop or PC, in Australia or overseas.
One Click Verify is a comprehensive and secure way to comply with Know Your Customer (KYC) and Anti-money
laundering (AML) obligations when onboarding or transacting with a client. One Click Verify is designed to completely
automate your organisation’s identity verification and AML program requirements from first customer contact via
phone, email and or face to face through to finalising a commercial engagement.
One Click Verify is IRESS XPlan integrated for digital identification of clients in the financial services industry. The solution
is designed for seamless and secure transfer of client information in a simple process without having to store client data
or identity documents.
One Click Verify is an approved Gateway Service Provider connected to Department of Home Affairs (Attorney General’s
Office) and the ATO enabling speedy verification of identity document information inclusive of biometrics liveness and
likeness check. One Click Verify is one of the only Australian Gateway Service Providers to be IRAP certified by the
Australian Signals Directorate.
One Click Verify enables businesses to engage with clients overseas, quickly identifying them using passport and
biometric liveness and likeness check creating a global solution for a customer’s client base identity verification
requirements.
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 7
DIRECTORS’ REPORT
The focus for continuing commercialisation of One Click Verify is expanding the integrations available and continuing to
grow the number of customers using the platform to digitally identify their clients.
During 2023 the Company launched and commenced growing the number of users on the One Click Verify platform.
This activity is continuing to build transaction volume and with it an annuity revenue stream. The platforms charge
model is a transaction charge (an identity verification) on the platform. Sales efforts are split between expanding the
number of customers using the platform as well as targeting integrations with other platforms to assist with the
distribution of the products available on the platform.
For more information on the One Click Verify platform: https://oneclickverify.com.au/
The Company would like to thank all the shareholders who have supported the Company through the year during the
commercialising its One Click Life and one Click Verify platforms. The Board looks forward to continuing to keep you
updated regularly with news in the year ahead.
MATERIAL BUSINESS RISK
As a Company in its growth phase, the Company’s operations have historically been loss making as it deploys capital to
marketing and development and seeks to grow its user base and expand its product offering. The Company is striving
towards its operations being profitable in future financial periods without the need to raise more capital, however,
there is always a risk that this may not occur. If the Company requires to raise additional capital this could be dilutive to
current shareholders. If the Company requires capital and is unable to secure additional funding, this could delay,
suspend or reduce the scope of the Company’s business strategy and could have a material adverse effect on the
Company’s operating and financial performance.
The ongoing success of the Company will depend on its continued relationships with existing customers. The Company
puts considerable effort into maintaining a high-quality product that its customers find simple to use. The ongoing use
of this product and payments of fees to the Company are important for its continued success. The Company attracts
new customers via its marketing efforts and has been able to scale up marketing efforts at a commercial cost point to
date. If the Company can no longer achieve this its business model will be at risk.
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 8
DIRECTORS’ REPORT
SIGNIFICANT CHANGES IN STATE OF AFFAIRS
Other than detailed in the review of operations, there were no other significant changes in the state of affairs of the
Company during the financial year.
MATTERS SUBSEQUENT TO THE END OF THE FINANCIAL YEAR
No matter or circumstances have arisen since 31 December 2023 that has significantly affected, or may significantly
affect the Group's operations, the results of those operations, or the Group's state of affairs in future financial years.
AGM
The Company will hold its next Annual General Meeting (‘AGM’) on 22 May 2024.
In accordance with ASX Listing Rule 3.13.1, the closing date for the receipt of nominations from persons wishing to be
considered for election as a director of the Company is 2 April 2024.
Any nominations must be received in writing no later than 5.00pm (WST) on 2 April 2024 at the Company’s registered
office.
LIKELY DEVELOPMENTS AND EXPECTED RESULTS OF OPERATIONS
Information on likely developments in the operations of the consolidated entity and the expected results of operations
have not been included in this report because the directors believe it would be likely to result in unreasonable prejudice
to the consolidated entity.
ENVIRONMENTAL REGULATION
The Company is not subject to any significant environmental regulation under Australian Commonwealth or State law.
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 9
DIRECTORS’ REPORT
BOARD OF DIRECTORS
Russell Baskerville – Non-Executive Chairman
Experience and
Expertise
Russell has over twenty years of experience as a corporate leader in technology, consulting,
IT and corporate transactions. Mr Baskerville was a founder, the Managing Director and CEO
of Empired Limited and over 15 years built the company into one of the largest and most
respected digital services firms across Australia and New Zealand.
From a small office in Perth, Western Australia, Mr Baskerville guided the company through
an IPO on the ASX, led multiple public capital raisings, negotiated and integrated multiple
acquisitions and was a key leader in strategies to secure multiple $100m plus corporate and
government contracts. Over this period, the company developed operations across 3
countries, employing over 1,200 full time staff with FY22 run-rate revenue of approximately
$240m per annum delivering technology services to some of the largest corporate and
government organisations in the world. In late 2021, Empired Limited undertook a scheme
of arrangement to effect a public takeover for nearly $250m by Capgemini, the second largest
consulting company in the world.
Mr Baskerville brings extensive experience in leadership, technology / digital business
models, entrepreneurial growth strategies, corporate transactions and corporate
governance.
Other Current
Directorships
Former Directorships
in last 3 years
Special
Responsibilities
Interests in Shares
and Options
Non-Executive Chairman of Elmore Ltd (ASX:ELE)
Managing Director of Empired Limited (ASX:EPD delisted 17 November 2021)
Non-Executive Chairman
15,291,490 Ordinary Shares
14,665,717 Ordinary Shares (escrowed)
2,139,802 Listed Options ($0.03 options expiring 17 November 2026)
2,666,667 Unlisted Options ($0.025 options expiring 21 June 2026)
1,500,000 Class A Performance Rights (escrowed)
1,500,000 Class B Performance Rights (escrowed)
1,333,333 Class C Performance Rights
Mark Waller – Managing Director
Experience and
Expertise
Mark’s experience is largely in the technology and financial services sectors. He has experience
in listing a company, M&A and capital raisings. He has a degree in Commerce majoring in Law
and Accounting and is a CPA. Mark’s core skill is in strategy setting and driving businesses
towards achieving that strategy. Mark worked for a small firm in public practice before moving
to Ernst & Young in 2002. Mark then moved overseas establishing his own business in the
construction industry which he ran for eighteen months before selling the business and
moving back to Perth.
From 2005 to 2016, Mark was the Chief Financial Officer and Company Secretary of listed
company Empired Ltd (ASX:EPD). Major achievements at Empired included growing the
business from 20 to nearly 1,000 people and expanding from WA to every state in Australia as
well as Singapore, New Zealand and North America, growing revenue from $2m to $160m
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 10
DIRECTORS’ REPORT
(while maintaining an average 10% profit margin throughout such growth) and listing the
company on ASX in 2007. The company was recently acquired for $233m.
In 2017, Mark and his business partner started Forrest Private Wealth via the acquisition of
three businesses. Forrest Private Wealth is a growing wealth management business with over
$150m in funds under management and over 500 clients Australia wide.
Other Current
Directorships
None
Former Directorships
in last 3 years
None
Special
Responsibilities
Interests in Shares
and Options
Managing Director
42,338,072 Ordinary Shares
21,949,930 Ordinary Shares (escrowed)
9,000,000 Class A Performance Rights (escrowed)
9,000,000 Class B Performance Rights (escrowed)
7,988,502 Listed Options ($0.03 options expiring 17 November 2026)
5,333,334 Unlisted Options ($0.025 options expiring 21 June 2026)
1,333,333 Class C Performance Rights
1,333,333 Class D Performance Rights
Winton Willesee – Non-Executive Director
Experience and
Expertise
Mr Willesee is an experienced company director and secretary with over 20 years’ experience
in various roles within the Australian capital markets.
Mr Willesee has considerable experience with ASX listed and other companies over a broad
range of industries having been involved with many successful ventures from early stage
through to large capital development projects.
He has a core expertise in strategy, company development, corporate governance, company
public listings, merger and acquisition transactions and corporate finance.
Mr Willesee holds a Master of Commerce, a Post-Graduate Diploma in Business (Economics
and Finance), a Graduate Diploma in Applied Finance and Investment, a Graduate Diploma in
Applied Corporate Governance, a Graduate Diploma in Education and a Bachelor of Business.
He is a Fellow of the Financial Services Institute of Australasia, a Graduate of the Australian
Institute of Company Directors, a Member of CPA Australia and a Fellow of the Governance
Institute of Australia and the Institute of Chartered Secretaries and Administrators/Chartered
Secretary.
Other Current
Directorships
Non-Executive Director of Nanollose Limited (ASX:NC6)
Non-Executive Director of Neurotech International Limited (ASX:NTI)
Former Directorships
in last 3 years
Non-Executive Chairman of New Zealand Coastal Seafoods Limited (ASX:NZS) (resigned 10
March 2023)
Non-Executive Director and Interim Chairman of Bridge SaaS Limited (ASX:BGE) (resigned 18
January 2024)
Non-Executive Director of Hygrovest Ltd (ASX:HGV) (resigned 20 March 2023)
Non-Executive Director of eSense Lab Ltd (ASX:ESE) (resigned 21 September 2021)
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 11
DIRECTORS’ REPORT
Interests in Shares
and Options
6,673,946 Ordinary Shares
476,711 Listed Options ($0.03 options expiring 17 November 2026)
2,666,667 Unlisted Options ($0.025 options expiring 21 June 2026)
1,333,333 Class C Performance Rights
Nathan Kerr – Executive Director
Experience and
Expertise
As a national award-winning Business Development Manager, entrepreneur and finance
professional, Nathan’s difference comes from his desire to create fuss-free financial products
and services for everyone. Nathan sits on a number of ATO national councils including the
Practitioner Lodgement Services Working Group, the Tax Profession Digital Implementation
Group and the Tax Practitioner Stewardship Group & BAS Agent Association Group.
After working in banking and finance for over 10 years, Nathan started up ‘Just FSG’ in 2012
to create a fuss-free accounting practice which provided quality service at an affordable
price. He started the business under the Pop Up Tax Shop and Just FSG trading names from
a small base in WA and grew it to a national presence lodging in excess of 15,000 individual
tax returns a year and managing over 80 accountants. In December 2014, Nathan exited Just
FSG and Pop Up Tax Shop to establish the OneClick brand. Nathan has worked with the ATO
to create the ultimate fuss-free accounting solutions and has been granted 4 patents for
straight through processing of tax returns. In October 2019, proof of concept was established
with the successful lodgement of data between OneClick software and the
Other Current
Directorships
Former Directorships
in last 3 years
Interests in Shares
and Options
Nil
Nil
11,219,125 Ordinary Shares
13,846,806 Ordinary Shares (escrowed)
5,333,334 Unlisted Options ($0.025 options expiring 21 June 2026)
9,000,000 Class A Performance Rights (escrowed)
9,000,000 Class B Performance Rights (escrowed)
1,333,333 Class C Performance Rights
1,333,333 Class D Performance Rights
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 12
DIRECTORS’ REPORT
COMPANY SECRETARY
Erlyn Dawson – Company Secretary
Experience and
Expertise
Mrs Dawson is an experienced corporate professional with a broad range of corporate
governance and capital markets experience, having been involved with several public
company listings, merger and acquisition transactions and capital raisings for ASX-listed
companies across a diverse range of industries.
Mrs Dawson began her career in corporate recovery and restructuring at Ferrier Hodgson
and is now the Managing Director of corporate services firm, Azalea Consulting, which
provides outsourced company secretarial, accounting and administration services to a
portfolio of ASX-listed companies.
Mrs Dawson holds a Bachelor of Commerce (Accounting and Finance) and a Graduate
Diploma in Applied Corporate Governance. She is a member of the Governance Institute of
Australia/Chartered Secretary.
DIRECTORS’ MEETINGS
Attendances by each Director during the year were as follows:
Director
Russell Baskerville
Mark Waller
Winton Willesee
Nathan Kerr
Number
Eligible to
Attend
Number
Attended
9
9
9
9
9
9
9
8
Eligible: represents the number of meetings held during the time the director held office.
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 13
DIRECTORS’ REPORT
REMUNERATION REPORT (AUDITED)
The remuneration report details the key management personnel remuneration arrangements for the Company, in accordance with the requirements of the Corporations Act
2001 and its Regulations.
Key management personnel are those persons having authority and responsibility for planning, directing and controlling the activities of the Group, directly or indirectly,
including all directors.
The remuneration report is set out under the following main headings:
●
●
●
●
●
Principles used to determine the nature and amount of remuneration
Details of remuneration
Service agreements
Share-based compensation
Additional disclosures relating to key management personnel
Principles used to determine the nature and amount of remuneration
The objective of the Group’s executive reward framework is to ensure reward for performance is competitive and appropriate for the results delivered. The framework aligns
executive reward with the achievement of strategic objectives and the creation of value for shareholders, and it is considered to conform to the market best practice for the
delivery of reward. The Board of Directors ('the Board') ensures that executive reward satisfies the following key criteria for good reward governance practices:
●
●
●
●
competitiveness and reasonableness;
acceptability to shareholders;
performance linkage / alignment of executive compensation; and
transparency.
The Board, fulfilling the role of the Nomination and Remuneration Committee, is responsible for determining and reviewing remuneration arrangements for its directors and
executives. The performance of the Group depends on the quality of its directors and executives. The remuneration philosophy is to attract, motivate and retain high
performance and high-quality personnel.
The Board has structured an executive remuneration framework that is market competitive and complementary to the reward strategy of the Company.
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 14
DIRECTORS’ REPORT
The reward framework is designed to align executive reward to shareholders' interests. The Board have considered that it should seek to enhance shareholders' interests by:
●
●
●
having value creation and capital growth in advance of economic profit as a core component of plan design;
focusing on sustained growth in shareholder wealth, consisting of growth in share price and eventually dividends, and delivering constant or increasing return on
assets as well as focusing the executive on key non-financial drivers of value; and
attracting and retaining high calibre executives.
Additionally, the reward framework should seek to enhance executives' interests by:
●
●
●
rewarding capability and experience;
reflecting competitive reward for contribution to growth in shareholder wealth; and
providing a clear structure for earning rewards.
In accordance with best practice corporate governance, the structure of non-executive director and executive director remuneration is separate.
Non-executive directors’ remuneration
Fees and payments to non-executive directors reflect the demands and responsibilities of their role. Non-executive directors' fees and payments are reviewed from time to
time by the Board fulfilling its role as the Nomination and Remuneration Committee. The Board may, from time to time, receive advice from independent remuneration
consultants to ensure non-executive directors' fees and payments are appropriate and in line with the market. The chairman's fees are determined independently to the fees
of other non-executive directors based on comparative roles in the external market. The chairman is not entitled to vote on the determination of his own remuneration.
Given the nature of the Company and the more hands-on role the non-executive directors’ play in the operations of the Company non-executive directors may receive share
options or other incentives.
ASX listing rules require the aggregate non-executive directors' remuneration be determined periodically by a general meeting, with any increase to the aggregate
remuneration to be subject to shareholder approval.
Executive directors’ remuneration
The Group aims to reward executives based on their position and responsibility, with a level and mix of remuneration which has both fixed and variable components.
The executive remuneration and reward framework has four components:
●
●
base pay and non-monetary benefits;
short-term performance incentives;
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 15
DIRECTORS’ REPORT
●
●
share-based payments; and
other remuneration such as superannuation and long service leave
The combination of these comprises the executive's total remuneration.
Fixed remuneration, consisting of base salary, superannuation and non-monetary benefits, are reviewed regularly by the Board fulfilling the role of Nomination and
Remuneration Committee based on the overall performance of the Company and comparable market remunerations.
Executives may receive their fixed remuneration in the form of cash or other benefits where it does not create any additional costs to the Company and provides additional
value to the executive.
The short-term incentives ('STI') program has yet to be finalised. Once adopted it will be designed to align the targets of Company with the performance hurdles of executives.
STI payments will be granted to executives based on specific annual targets and key performance indicators ('KPI's') being achieved.
The long-term incentives ('LTI') include equity-based payments. Equity securities are awarded to executives with vesting conditions and expiry dates aligned to the Company’s
business plans and targets. The details of the current vesting conditions and targets are as follows and further detailed in the section on service agreements found below.
There are currently no outstanding unissued Options or Performance Rights.
Options
At the 2023 Annual General Meeting held on 24 May 2023, shareholders approved the issue of options to the Directors. The options were issued on 21 June 2023.
Mr Russell Baskerville – 2,666,667 Options
Mr Mark Waller – 5,333,334 Options
Mr Winton Willesee – 2,666,667 Options
Mr Nathan Kerr – 5,333,334 Options
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 16
DIRECTORS’ REPORT
Performance Rights
Pursuant to Shareholder approval at the Company’s General Meeting held on 24 May 2023 the Company issued on 21 June 2023 the following Class C and Class D Performance
Rights to Directors:
Mr Russell Baskerville – Class C 1,333,333
Mr Mark Waller – Class C 1,333,333 and Class D 1,333,333
Mr Winton Willesee – Class C 1,333,333
Mr Nathan Kerr – Class C 1,333,333 and Class D 1,333,333
The Performance Rights, at the election of the holder, vest and convert into one share in the event that the Milestones below are achieved or a takeover event occurs.
Milestones:
A.
Class C Performance Rights: The Company’s Shares achieving a 20-day volume weighted average price (VWAP) of $0.04 or more on or before 31 December
2024; and
B.
Class D Performance Rights: The Company’s Shares achieving a 20-day VWAP of $0.055 or more on or before 31 December 2024.
Group performance and link to remuneration
Remuneration for certain individuals is directly linked to the performance of the Group. Each key management personnel held equity securities designed to incentivise them
to drive the Group’s performance in line with its business plans.
A portion of any cash bonus that may be paid to executives will be directly linked to the achievement of goals designed to align with the Group’s performance.
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 17
DIRECTORS’ REPORT
Details of remuneration
Details of the remuneration of key management personnel of the Group during the year ended 31 December 2023 are set out in the following tables.
The key management personnel of the Group consisted of the following directors of One Click Group Limited:
Directors
Russell Baskerville
Non-Executive Chairman
Mark Waller
Winton Willesee
Nathan Kerr
Managing Director
Non-Executive Director
Executive Director
Key Management Personnel Compensation
The compensation of the Group’s Key Management Personnel is disclosed below:
Short term benefits
Share based payments
Salary and
Fees ($)
Bonus ($)
Superannua
tion ($)
Annual leave
($)
Options
($)
Equity-settled
Performance
Rights
($)
Total ($)
Performance
related
2023 Key
Management
Person
DIRECTORS
Russell Baskerville
70,000
-
-
-
11,862
6,960
88,822
Mark Waller
200,000
-
23,195
15,385
23,723
11,960
274,263
Winton Willesee
48,000
-
-
-
11,862
6,960
66,822
Nathan Kerr
200,000
-
23,195
15,385
23,723
11,960
274,263
TOTAL
518,000
-
46,390
30,770
71,170
37,840
704,170
21%
13%
28%
13%
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 18
DIRECTORS’ REPORT
2022 Key
Management
Person
DIRECTORS
Short term benefits
Share based payments
Salary and
Fees ($)
Bonus ($)
Superannua
tion ($)
Annual leave
($)
Options
($)
Equity-settled
Performance
Rights
($)
Total ($)
Performance
related
Russell Baskerville¹
20,611
-
-
-
-
60,000
80,611
Mark Waller²
53,846
-
5,654
4,624
-
360,000
424,124
Winton Willesee
60,750
-
-
-
-
-
60,750
74%
85%
-
Nathan Kerr³
54,423
-
5,714
4,624
-
360,000
424,761
85%
Erlyn Dawson *
25,500
-
-
-
-
-
25,500
James Bahen *
25,500
-
-
-
-
-
25,500
TOTAL
240,630
-
11,368
9,248
-
780,000
1,041,246
-
-
* Resigned 15 September 2022
¹ Russell Baskerville was appointed Non- Executive chairman on 15 September 2022
² Mark Waller was appointed Managing Director on 15 September 2022
³ Nathan Kerr was appointed Executive Director on 15 September 2022
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 19
DIRECTORS’ REPORT
Service Agreements
Remuneration and other terms of employment for key management personnel are formalised in service agreements. Details of these agreements are as follows:
Name:
Title:
Agreement commenced:
Term of agreement:
Notice period:
Details:
Name:
Title:
Agreement commenced:
Term of agreement:
Notice period:
Details:
Mark Waller
Managing Director
27 September 2022 the date upon which the Company was re-admitted to the official list of the ASX
No fixed term
6 months
The remuneration of Mr Mark Waller is $200,000 per year plus statutory superannuation.
Nathan Kerr
Executive Director
27 September 2022 the date upon which the Company was re-admitted to the official list of the ASX
No fixed term
6 months
The remuneration of Mr Nathan Kerr is $200,000 per year plus statutory superannuation.
Following the end of the period the Board has put in place an STI award package for the 2024 financial year for its two executive directors. The STI award is a payment of
$50,000 each with the milestones required to access the award being a. 50% of the payment accessible should the Company’s revenue be $7 million or greater for the 2024
financial year and b. 50% of the payment accessible should the Company’s EBITDA for the 2024 financial year be positive including accruing for the STI awards.
Key management personnel have no entitlement to termination payments in the event of removal for misconduct.
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 20
DIRECTORS’ REPORT
Share-based compensation
Options
During the year Options were granted to the Group’s Directors. The assessed fair value of these Options was determined using the Black-Scholes option valuation model with
the following inputs:
Input
Number of options issued
Grant date share price
Exercise price
Expected volatility
Option life
Expiry
Interest rate
Valuation
Expensed in the period
1CGOP3 OPTIONS
16,000,002
$0.011
$0.025
90%
3 years
21/06/2026
3.34%
$71,169
$71,169
All options were granted over unissued fully paid ordinary shares in the Company. The options do not have any vesting conditions and are exercisable by the holder as from
the issue date. There has not been any alteration to the terms or conditions of the grant since the grant date. There are no amounts paid or payable by the recipient in
relation to the granting of such options other than on their potential exercise.
Performance Rights
During the year Performance Rights were granted to the Group’s Directors. The assessed fair value of these Performance Rights was determined using the following inputs:
Input
Class C
Class D
Total
Number of performance rights
5,333,332
2,666,666
7,999,998
Fair value
Grant date
Vesting date
Expiry date
$0.0052
$0.0038
24/05/2023
24/05/2023
-
-
31/12/2024
31/12/2024
Expensed in the financial year ended 31 December 2023
$27,840
$10,000
$37,840
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 21
DIRECTORS’ REPORT
The Class C Performance Rights vest upon The Company’s Shares achieving a 20-day volume weighted average price (VWAP) of $0.04 or more on or before 31 December
2024; and
The Class D Performance Rights vest upon The Company’s Shares achieving a 20-day VWAP of $0.055 or more on or before 31 December 2024.
Performance Rights are exercisable by the holder as from the vesting date. There has not been any alteration to the terms or conditions of the grant since the grant date.
There are no amounts paid or payable by the recipient in relation to the granting of such performance rights.
Additional disclosures relating to key management personnel
Shareholdings:
The number of Shares in the Company held during the financial year by each director and other members of key management personnel of the Group, including their
personally related parties, is set out below:
Name
Directors
Balance at start of
the year
Acquired
Disposed
Balance on
resignation
Balance at the
end of the year
Russell Baskerville
22,052,605
7,904,602
Mark Waller
Winton Willesee
Nathan Kerr
Total
39,231,976
25,056,026
5,720,525
953,421
25,065,931
-
92,071,037
33,914,049
-
-
-
-
-
-
-
-
-
-
29,957,207
64,288,002
6,673,946
25,065,931
125,985,086
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 22
DIRECTORS’ REPORT
Option holdings
The number of options over ordinary shares in the Company held during the financial year by each director and other members of key management personnel of the Group,
including their personally related parties, is set out below:
Name
Russell Baskerville
Mark Waller
Winton Willesee
Nathan Kerr
Total
Balance at start
of the year
Acquired as part of
remuneration
Other¹
Expired
Balance at the end of
the year
Vested and
exercisable
-
-
2,245,384
-
2,666,667
5,333,334
2,666,667
5,333,334
2,139,802
7,988,502
476,711
-
-
-
4,806,469
4,806,469
13,321,836
13,321,836
(2,245,384)
3,143,378
3,143,378
-
5,333,334
5,333,334
2,245,384
16,000,002
10,605,015
(2,245,384)
26,605,017
26,605,017
¹ Free-attaching option to placement
Performance Rights holdings
The number of performance rights in the Group held during the financial year by each director and other members of key management personnel of the Company, including
their personally related parties, is set out below:
Name
Russell Baskerville
Mark Waller
Winton Willesee
Nathan Kerr
Total
Balance at the start of
the year
Issued
Balance at the end of
the year
Vested
3,000,000
18,000,000
-
18,000,000
39,000,000
1,333,333
2,666,666
1,333,333
2,666,666
7,999,998
4,333,333
20,666,666
1,333,333
20,666,666
46,999,998
-
-
-
-
-
Other transactions with key management personnel and their related parties during the financial year at disclosed in Note 27.
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 23
DIRECTORS’ REPORT
Additional information - performance of the Company and shareholder returns
The performance of the Company is summarised below.
Name
2019
2020
2021
2022
2023
Sales revenue
EBITDA
Loss after income tax
Basic loss per share (cents)
Share price as at 31 December (cents)
Dividends proposed or paid in the year
322,166
(2,329,871)
(2,409,264)
(0.75)
0.4
Nil
457,767
(1,333,812)
(1,347,290)
(0.001)
0.1
Nil
1,233,640
(1,373,271)
(1,757,436)
(1.17)
0.2
Nil
1,620,121
(6,212,400)
(6,907,854)
(1.78)
0.011
Nil
3,852,693
(1,895,017)
(2,599,477)
(0.37)
0.012
Nil
Voting and comments made at the Group’s 2023 Annual General Meeting
The Company received a 98.97% “yes” votes on its remuneration report for the 2023 financial year (2022: 84.99% yes). The Group did not receive any specific feedback at
the AGM or throughout the year on its remuneration practices.
This is the end of the Audited Remuneration Report.
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 24
SHARES
As at the date of this report, there are 759,793,478 fully paid ordinary shares on issue.
Options on issue
Unissued ordinary shares of One Click Group Limited under option as at the date of this report are as follows:
Unlisted Option Class Grant date
Expiry date
Exercise price Number of options
Class 1CGUOPAH
15 September 2022
23 September 2025
Class 1CGOESC24
15 September 2022
15 September 2025
Class 1CGOESC12
15 September 2022
15 September 2025
Class 1CGOPT1
21 June 2023
21 June 2026
$0.030
$0.025
$0.025
$0.025
25,000,000
1,800,000
10,700,000
16,000,002
53,500,002
Listed Option Class
Grant date
Expiry date
Exercise price Number of options
1CGO
17 to 22 November 2023
17 November 2026
$0.03
36,540,346
No person entitled to exercise the options had or has any right by virtue of the option to participate in any share
issue of the Company or of any other body corporate.
Performance Rights on issue
Class
Class A
Class B
Class C
Class D
Grant date
Expiry date
Number of rights
15 September 2022
15 September 2027
15 September 2022
15 September 2027
24 May 2023
24 May 2023
31 July 2026
31 July 2026
30,000,000
30,000,000
5,333,332
2,666,666
67,999,998
Shares issued on the exercise of options
The following ordinary shares of One Click Group Limited were issued during the year ended 31 December
2023 and up to the date of this report on the exercise of options granted:
Date options granted
28 July 2020
Indemnity and insurance of officers
Exercise price
Number of shares
issued
$0.02
30,000,000
The Company has indemnified the directors and executives of the Company for costs incurred, in their capacity
as a director or executive, for which they may be held personally liable, except where there is a lack of good
faith.
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 25
During the financial year, the Company paid a premium in respect of a contract to insure the directors and
executives of the Company against a liability to the extent permitted by the Corporations Act 2001. The contract
of insurance prohibits disclosure of the nature of the liability and the amount of the premium.
Proceedings on behalf of the Company
No person has applied to the Court under section 237 of the Corporations Act 2001 for leave to bring proceedings
on behalf of the Company, or to intervene in any proceedings to which the Company is a party for the purpose
of taking responsibility on behalf of the Company for all or part of those proceedings.
Indemnity and insurance of auditor
The Company has not, during or since the end of the financial year, indemnified or agreed to indemnify the
auditor of the Company or any related entity against a liability incurred by the auditor.
During the financial year, the Company has not paid a premium in respect of a contract to insure the auditor of
the Company or any related entity.
Non-audit services
Details of the amounts paid or payable to the auditor for non-audit services provided during the financial year
by the auditor are outlined in Note 22 to the financial statements.
The directors are satisfied that the provision of non-audit services during the financial year, by the auditor (or
by another person or firm on the auditor's behalf), is compatible with the general standard of independence for
auditors imposed by the Corporations Act 2001.
The directors are of the opinion that the services as disclosed in Note 22 to the financial statements do not
compromise the external auditor's independence requirements of the Corporations Act 2001 for the following
reasons:
all non-audit services have been reviewed and approved to ensure that they do not impact the integrity and
objectivity of the auditor; and
none of the services undermine the general principles relating to auditor independence as set out in APES
110 Code of Ethics for Professional Accountants issued by the Accounting Professional and Ethical Standards
Board, including reviewing or auditing the auditor's own work, acting in a management or decision-making
capacity for the Company, acting as advocate for the Company or jointly sharing economic risks and
rewards.
Corporate Governance
The Company’s 2022 Corporate Governance Statement is contained in the ‘Corporate Governance’ section of
the Company’s website at https://oneclickgroup.com.au/corporate-governance/.
Auditor
RSM Australia Partners continues in office in accordance with Section 327 of the Corporations Act 2001.
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 26
AUDITOR’S INDEPENDENCE DECLARATION
The Auditor’s Independence Declaration as required under section 307C of the Corporations Act 2001 for the
year ended 31 December 2023 has been received and can be found on page 28.
This report is made in accordance with a resolution of Directors, pursuant to section 298(2)(a) of the
Corporations Act 2001.
Signed on behalf of the Board of Directors.
Winton Willesee
Director
Dated at Perth, Western Australia
28 February 2024
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 27
AUDITOR’S INDEPENDENCE DECLARATION
As lead auditor for the audit of the financial report of One Click Group Limited for the year ended 31 December
2023, I declare that, to the best of my knowledge and belief, there have been no contraventions of:
(i)
(ii)
the auditor independence requirements of the Corporations Act 2001 in relation to the audit; and
any applicable code of professional conduct in relation to the audit.
RSM AUSTRALIA PARTNERS
Perth, WA
Dated: 28 February 2024
TUTU PHONG
Partner
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2023
CONSOLIDATED
Notes
31 December 2023
30 December 2022
$
$
CONTINUING OPERATIONS
Revenue from contracts with customers
Other income
Finance income
Employee expenses
Amortisation and depreciation expense
Selling and distribution expenses
Advertising and marketing expenses
Provision For doubtful debts
General and administrative expenses
Finance costs
Listing expense
Share based payments
LOSS BEFORE INCOME TAX
Income tax benefit
LOSS AFTER INCOME TAX
3
4
5
6
7
3,852,693
1,620,121
59,659
13,562
(1,648,837)
(608,712)
(227,774)
2,971
6,961
(752,401)
(601,830)
(294,279)
(2,347,277)
(1,340,551)
3,308
(1,477,780)
(109,310)
(429,669)
(944,273)
(100,586)
-
(2,874,318)
(109,009)
(1,200,000)
(2,599,477)
(6,907,854)
-
-
(2,599,477)
(6,907,854)
Items that may be reclassified subsequently to profit or
loss:
Other comprehensive income/(loss)
-
-
Total comprehensive loss for the period
(2,599,477)
(6,907,854)
Earnings per share
Basic loss per share (cents per share)
Diluted Loss per share
24
24
(0.37)
(0.37)
(1.78)
(1.78)
The Consolidated Statement of Profit or Loss and Other Comprehensive Income are to be read in conjunction
with the accompanying notes.
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 29
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023
CONSOLIDATED
Notes
31 December 2023
31 December 2022
$
$
CURRENT ASSETS
Cash and cash equivalents
Trade and other receivables
Other current assets
TOTAL CURRENT ASSETS
NON-CURRENT ASSETS
Plant and equipment
Intangible assets
TOTAL NON-CURRENT ASSETS
TOTAL ASSETS
CURRENT LIABILITIES
Trade and other payables
Employee benefits
TOTAL CURRENT LIABILITIES
NON-CURRENT LIABILITIES
Financial liabilities
TOTAL NON-CURRENT LIABILITIES
TOTAL LIABILITIES
NET ASSETS
EQUITY
Contributed equity
Reserves
Accumulated losses
TOTAL EQUITY
9
10
11
12
13
14
15
16
17
18
1,096,263
2,786,490
969,769
394,354
543,931
121,990
2,460,386
3,452,411
11,748
424,548
436,296
-
730,248
730,248
2,896,682
4,182,659
881,283
232,423
1,113,706
174,050
174,050
1,287,756
1,608,926
626,436
141,488
767,924
234,040
234,040
1,001,964
3,180,695
12,817,198
11,898,499
1,585,663
1,476,654
(12,793,935)
(10,194,458)
1,608,926
3,180,695
The Consolidated Statement of Financial Position is to be read in conjunction with the accompanying notes.
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 30
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2023
Contributed Equity
($)
Accumulated
Losses ($)
Option Reserve
($)
Share-based
Payment Reserve
($)
Total ($)
FINANCIAL YEAR ENDED 31 DECEMBER 2023
Balance at 1 January 2023
11,898,499
(10,194,458)
276,654
1,200,000
3,180,695
Loss after tax for the year
-
(2,599,477)
-
-
(2,599,477)
Total comprehensive loss for the year
-
(2,599,477)
-
-
(2,599,477)
Transactions with equity holders in their
capacity as equity holders
Issue of share capital (net of costs)
Share based payments (Note 6)
918,699
-
-
-
-
71,169
-
37,840
918,699
109,009
Balance at 31 December 2023
12,817,198
(12,793,935)
347,823
1,237,840
1,608,926
The Consolidated Statement of Changes in Equity is to be read in conjunction with the accompanying notes.
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 31
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2022
Contributed Equity
($)
Accumulated
Losses ($)
Option Reserve
($)
Share-based
Payment Reserve
($)
Total ($)
FINANCIAL YEAR ENDED 31 DECEMBER 2022
Balance at 1 January 2022
3,940,987
(3,286,604)
-
-
654,383
Loss after tax for the year
-
(6,907,854)
-
-
(6,907,854)
Total comprehensive loss for the year
-
(6,907,854)
-
-
(6,907,854)
Transactions with equity holders in their
capacity as equity holders
Issue of share capital (net of costs)
7,957,512
Issue of options to Lead Manager (Note 6)
Share based payments (Note 6)
-
-
-
-
-
-
276,654
-
Balance at 31 December 2022
11,898,499
(10,194,458)
276,654
-
-
1,200,000
1,200,000
7,957,512
276,654
1,200,000
3,180,695
The Consolidated Statement of Changes in Equity is to be read in conjunction with the accompanying notes.
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 32
CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED
31 DECEMBER 2023
CASH FLOWS FROM OPERATING ACTIVITIES
Receipts from customers (inclusive of GST)
Other receipts
CONSOLIDATED
Notes
31 December 2023
31 December 2022
($)
($)
3,593,246
59,659
1,362,988
-
Payments to suppliers and employees (inclusive of GST)
(5,817,870)
(3,796,998)
Interest received
Interest paid
13,564
(109,310)
6,962
(100,586)
NET CASH USED IN OPERATING ACTIVITIES
19
(2,260,711)
(2,527,634)
CASH FLOWS FROM INVESTING ACTIVITIES
Government grant receipts
Cash obtained on acquisition of subsidiary
Payments for intangible assets
Payments for plant and equipment
NET CASH USED IN INVESTING ACTIVITIES
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of shares
Proceeds from borrowings
Payment of share issue transaction costs
Repayment of borrowings
NET CASH PROVIDED BY FINANCING ACTIVITIES
Net (decrease) / increase in cash held
Cash and cash equivalents at beginning of financial year
466,532
-
(735,894)
(18,858)
(288,220)
1,112,400
2,200,000
(193,702)
(2,259,994)
858,704
(1,690,227)
2,786,490
347,671
37,254
(581,360)
(12,486)
(208,921)
6,000,000
-
(183,903)
(326,976)
5,489,121
2,752,566
33,924
Cash and cash equivalents at end of financial year
9
1,096,263
2,786,490
The Consolidated Statement of Cash Flows is to be read in conjunction with the accompanying notes.
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 33
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
1.
MATERIAL ACCOUNTING POLICIY INFORMATION
The material accounting policies adopted in the preparation of the Financial Statements are set out below. These
policies have been consistently applied to all years presented, unless otherwise stated.
(a) General Information
One Click Group Limited (‘Company’) or (‘Entity’) is a public Company limited by shares, incorporated and
domiciled in Australia. The Consolidated Financial Report of the Company as at and for the year ended 31
December 2023 comprises the Company and its subsidiaries (together referred to as the ‘Consolidated Entity’ or
‘Group’).
One Click Group Limited is a taxation preparation software and service provider in Australia, offering a range of
other financial services. The One Click Life platform aims to enable Australians to manage their financial lives
conveniently on their mobile phones in a simple and cost-effective format. One Click Verify provides businesses a
safe means of commerce through digital identifying clients and anti money laundering checks.
(b) Basis of Preparation
The financial report is a general-purpose financial report which has been prepared in accordance with Australian
Accounting Standards and Interpretations issued by the Australian Accounting Standards Board and the
Corporations Act 2001. One Click Group Limited is a for profit entity for the purpose of preparing the Financial
Statements.
Australian Accounting Standards set out accounting policies that the AASB has concluded would result in a financial
report containing relevant and reliable information about transactions, events and conditions. Compliance with
Australian Accounting Standards ensures that the financial statements and notes also comply with International
Financial Reporting Standards as issued by the International Accounting Standards Board (‘IASB’). Material
accounting policies adopted in the preparation of this financial report are presented below and have been
consistently applied.
The Financial Statements were approved by the Board of Directors on 27 February 2024.
Historical cost convention
The financial report has been prepared on an accrual basis and is based on historical costs modified by the
revaluation of selected non-current assets, financial assets and financial liabilities for which the fair value basis of
accounting has been applied. All amounts are presented in Australian dollars.
(c) Going Concern
The financial statements have been prepared on the going concern basis, which contemplates continuity of
normal business activities and the realisation of assets and discharge of liabilities in the normal course of
business.
As disclosed in the financial statements, the Group incurred a loss of $2,599,477 and had net cash ouXlows from
operaYng acYviYes of $2,260,711 for the year ended 31 December 2023.
The Board believes that there are reasonable grounds to believe that the Company will be able to continue as a
going concern and that it is appropriate for it to adopt the going concern basis in the preparation of the financial
report after consideration of following factors:
-
-
-
The Company anticipates its revenue to continue to increase from tax and other products;
The Company has the ability to issue additional equity securities under the Corporations Act 2001 to raise
further working capital; and
The Company has the ability to curtail administrative, marketing and overhead cash outflows as and when
required.
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 34
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Accordingly, the Board believes that the Company will be able to continue as a going concern and that it is
appropriate to adopt the going concern basis in the preparation of the financial report.
(d)
Impact of the adoption of new or amended Accounting Standards and Interpretations
The Group has adopted all of the new or amended Accounting Standards and Interpretations issued by the
Australian Accounting Standards Board ('AASB') that are mandatory for the current reporting period.
Any new or amended Accounting Standards or Interpretations that are not yet mandatory have not been early
adopted.
(e)
Significant Accounting Judgments, Estimates and Assumptions
The preparation of the Financial Statements requires Management to make judgments, estimates and
assumptions that affect the reported amounts in the Financial Statements. Management continually evaluates its
judgments and estimates in relation to assets, liabilities, contingent liabilities, revenue and expenses.
Management bases its judgments and estimates on historical experience and on other various factors it believes
to be reasonable under the circumstances, the result of which form the basis of the carrying values of assets and
liabilities that are not readily apparent from other sources. Actual results may differ from these estimates.
Revisions to accounting estimates are recognised in the period in which the estimate is revised and in any future
periods affected.
Information about significant areas of estimation uncertainty and critical judgments in applying accounting policies
that have the most significant effect on the amount recognised in the Financial Statements are outlined below:
(i)
Share based payments.
The Group measures the cost of equity settled transactions with employees by reference to the fair value of equity
instruments at the date at which they are granted. The fair value is determined using an appropriate valuation
model, inputs used in valuing share-based payments, including options, are estimates.
(ii)
Amortisation of intangible assets
Costs incurred in developing products or systems and costs incurred in acquiring software and licenses that will
contribute to future period financial benefits through revenue generation and/or cost reduction are capitalised to
software and systems. Costs capitalised include external direct costs of materials and services and employee costs.
Assets in the course of construction include only those costs directly attributable to the development phase and
are only recognised following completion of technical feasibility and where the Group has an intention and ability
to use the asset.
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 35
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
(f)
Parent entity information
In accordance with the Corporations Act 2001, these financial statements present the results of the Group only.
Supplementary information about the parent entity is disclosed in note 27.
(g)
Principles of consolidation
The financial statements incorporate the assets and liabilities of all subsidiaries of the One Click Group Limited as
at 31 December 2023 and the results of all subsidiaries for the year then ended. One Click Group Limited and its
subsidiaries together are referred to in these financial statements as the 'Consolidated Entity' or ‘Group’.
Subsidiaries are all those entities over which the consolidated entity has control. The consolidated entity controls
an entity when the consolidated entity is exposed to, or has rights to, variable returns from its involvement with
the entity and has the ability to affect those returns through its power to direct the activities of the entity.
Subsidiaries are fully consolidated from the date on which control is transferred to the consolidated entity. They
are de-consolidated from the date that control ceases.
Intercompany transactions, balances and unrealised gains on transactions between entities in the consolidated
entity are eliminated. Unrealised losses are also eliminated unless the transaction provides evidence of the
impairment of the asset transferred. Accounting policies of subsidiaries have been changed where necessary to
ensure consistency with the policies adopted by the consolidated entity.
The acquisition of subsidiaries is accounted for using the acquisition method of accounting. A change in ownership
interest, without the loss of control, is accounted for as an equity transaction, where the difference between the
consideration transferred and the book value of the share of the non-controlling interest acquired is recognised
directly in equity attributable to the parent.
Non-controlling interest in the results and equity of subsidiaries are shown separately in the statement of profit
or loss and other comprehensive income, statement of financial position and statement of changes in equity of
the consolidated entity. Losses incurred by the consolidated entity are attributed to the non-controlling interest
in full, even if that results in a deficit balance.
Where the consolidated entity loses control over a subsidiary, it derecognises the assets including goodwill,
liabilities and non-controlling interest in the subsidiary together with any cumulative translation differences
recognised in equity. The consolidated entity recognises the fair value of the consideration received and the fair
value of any investment retained together with any gain or loss in profit or loss.
(h) Operating segments
Operating segments are presented using the ‘management approach’, where the information presented is on the
same basis as the internal reports provided to the Chief Operating Decision Makers (‘CODM’). The CODM is
responsible for the allocation of resources to operating segments and assessing their performance.
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 36
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
(i)
Revenue recognition
Revenue from contact with customer
Revenue rises mainly from service contracts. To determine whether to recognise revenue, the Group follows a
5-step process:
1. Identifying the contract with a customer
2. Identifying the performance obligations
3. Determining the transaction price
4. Allocating the transaction price to the performance obligations
5. Recognising revenue when/as performance obligation(s) are satisfied.
The Group often enters into transactions involving the Group’s products and services. In all cases, the total
transaction price for a contract is allocated amongst the various performance obligations based on their relative
stand-alone selling prices. The transaction price for a contract excludes any amounts collected on behalf of third
parties.
Revenue is recognised either at a point in time or over time, when the Group satisfies performance obligations by
transferring the promised goods or services to its customers. The Group recognises contract liabilities for
consideration received in respect of unsatisfied performance obligations and reports these amounts as other
liabilities in the statement of financial position. Similarly, if the Group satisfies a performance obligation before it
receives the consideration, the Group recognises either a contract asset or a receivable in its statement of financial
position, depending on whether something other than a period of time is required before the consideration is due.
Services revenue
Revenue from the provision of services is recognised when the service has been provided. Each service is deemed
a separate performance obligation. The transaction price is allocated to each obligation based on contract prices.
Revenue from services is predominantly recognised on the basis of the value of the work completed at a point in
time.
Transaction price and contract modifications
The transaction price is the amount of consideration to which the company expects to be entitled to under the
customer contract and which is used to value total revenue and is allocated to each performance obligation. The
determination of this amount includes “fixed remuneration”, (for example lump sum, schedule of rates or pricing
for services) and “variable consideration”.
The main variable consideration elements are claims (contract modifications) and consideration for optional works
and provisional sums each of which needs to be assessed. Contract modifications are changes to the contract
approved by the parties to the contract.
The right to the consideration to be provided from contractually generating an enforceable right once the
enforceable right has been identified. The Group applies the guidance given in AASB 15 in relation to variable
consideration. This requires assessment that is highly probable that there will not be a significant reversal of
revenue in the future.
The measurement of additional consideration arising from claims is subject to a high level of uncertainty, both in
terms of the amount that customers will pay and the collection times, which usually depend on the outcome of
negotiations between the parties or decisions taken by judicial/arbitration bodies. The Group considers all relevant
aspects in circumstances such as the contract terms, business in negotiating practices of the sector, the Group’s
historical experiences with similar contracts and consideration of those factors that affect the variable
consideration that are out of control of the Group or other supporting evidence when making the above decision.
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 37
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Loss making contracts
A provision is made for the difference between expected cost of fulfilling a contract and expected on and portion
of the transaction price whether forecast costs are greater than forecast revenue. The provision is recognised in
full in a period in which the loss-making contract is identified under AASB 137 Provisions, Contingent Liabilities and
Contingent Assets.
Under AASB 137, the assessment of whether a provision needs to be recognised takes place at the contract level
and there are no segmentation criteria to apply. As a result, there are some instances where loss provisions
recognised in the past have not been recognised under AASB 15 because the contract as a whole is profitable.
In addition, when two or more contracts entered into at or near the same time are required to be combined for
accounting purposes, AASB 15 requires the Group to perform the assessment of whether the contract is onerous
at the level of the combined contracts. The Group also notes that the amount of loss accrued in respect of a loss
contract under AASB 111 takes into account an appropriate allocation of construction overheads. This contrasts
with AASB 137 where loss accruals may be lower as they are based on the identification of ‘unavoidable costs’.
(j)
Interest and dividend income
Interest income and expenses are reported on an accrual basis using the effective interest method. Dividend
income, other than those from investments in associates, are recognised at the time the right to receive payment
is established.
(k) Government grant
Government grants relating to costs are deferred and recognised in profit or loss over the period necessary to
match them with the costs that they are intended to compensate. Government grants that are receivable as
compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to
the Group with no future related costs are recognised in profit or loss in the period in which they become
receivable. Government assistance which does not have conditions attached specifically relating to the operating
activities of the Group is recognised in accordance with the accounting policies above.
(l)
Intangible assets, research and development
Internally generated software
Internally developed software is capitalised at cost less accumulated amortisation. Amortisation is calculated
using the straight-line basis over the asset’s useful economic life which is generally four to seven years. Their useful
lives and potential impairment are reviewed at the end of each financial year.
Software under development
Costs incurred in developing products or systems and costs incurred in acquiring software and licenses that will
contribute to future period financial benefits through revenue generation and/or cost reduction are capitalised to
software and systems. Costs capitalised include external direct costs of materials and services and employee costs.
Assets in the course of construction include only those costs directly attributable to the development phase and
are only recognised following completion of technical feasibility and where the Group has an intention and ability
to use the asset.
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 38
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Impairment testing of intangible assets.
Intangible assets that have an indefinite useful life are not subject to amortisation and are tested annually for
impairment, or more frequently if events or changes in circumstances indicate that they might be impaired. Other
assets are tested for impairment whenever events or changes in circumstances indicate that the carrying amount
may not be recoverable. An impairment loss is recognised for the amount by which the asset’s carrying amount
exceeds its recoverable amount. The recoverable amount is the higher of an asset’s fair value less costs to sell and
value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are
separately identifiable cash inflows which are largely independent of the cash inflows from other assets or groups
of assets (cash-generating units).
(m) Plant and equipment
Plant and equipment is stated at historical cost less accumulated depreciation and impairment. Historical cost
includes expenditure that is directly attributable to the acquisition of the items.
Depreciation is calculated on a straight-line basis to write off the net cost of each item of plant and equipment
(excluding land) over their expected useful lives as follows:
Plant and equipment 3-7 years
The residual values, useful lives and depreciation methods are reviewed, and adjusted if appropriate, at each
reporting date.
An item of plant and equipment is derecognised upon disposal or when there is no future economic benefit to
the consolidated entity. Gains and losses between the carrying amount and the disposal proceeds are taken to
profit or loss.
(n)
Financial instruments
(i)
Recognition and derecognition
Financial assets and financial liabilities are recognised when the Group becomes a party to the contractual
provisions of the financial instrument. Financial assets are derecognized when the contractual rights to the cash
flows from the financial asset expire, or when the financial asset and substantially all the risks and rewards are
transferred. A financial liability is derecognized when it is extinguished, discharged, cancelled or expires.
(ii)
Classification and initial measurement
Financial assets are initially measured at fair value adjusted for transaction costs (where applicable).
Financial assets are classified into the following categories:
amortised cost
fair value through profit or loss (FVTPL)
fair value through other comprehensive income (FVOCI)
In the periods presented, the Group does not have any financial assets categorized as FVOCI.
The classification is determined by both:
the entity’s business model for managing the financial asset
the contractual cash flow characteristics of the financial asset.
All income and expenses relating to financial assets that are recognized in profit or loss are presented within
finance costs, finance income or other financial items, except for impairment of trade receivables which is
presented within other expenses.
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 39
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
(iii)
Subsequent measurement of financial assets
Financial assets at amortised cost
Financial assets are measured at amortised cost if the assets meet the following conditions (and are not
designated as FVTPL):
they are held within a business model whose objective is to hold the financial assets and collect its
contractual cash flows
the contractual terms of the financial assets give rise to cash flows that are solely payments of principal and
interest on the principal amount outstanding
After initial recognition, these are measured at amortised cost using the effective interest method. Discounting
is omitted where the effect of discounting is immaterial. The Group’s cash and cash equivalents, trade and most
other receivables fall into this category of financial instruments.
Financial assets at fair value through profit or loss (FVTPL)
Financial assets that are held within a different business model other than ‘hold to collect’ or ‘hold to collect and
sell’ are categorised at fair value through profit and loss. Further, irrespective of business model financial assets
whose contractual cash flows are not solely payments of principal and interest are accounted for at FVTPL.
Assets in this category are measured at fair value with gains or losses recognised in profit or loss. The fair values
of financial assets in this category are determined by reference to active market transactions or using a valuation
technique where no active market exists.
Impairment of financial assets
AASB 9’s impairment requirements use more forward-looking information to recognise expected credit losses – the
‘expected credit loss (ECL) model’. This replaced IAS 39’s ‘incurred loss model’. Instruments within the scope of the new
requirements included loans and other debt-type financial assets measured at amortised cost and FVOCI, trade
receivables, contract assets recognised and measured under AASB 15 and loan commitments and some financial
guarantee contracts (for the issuer) that are not measured at fair value through profit or loss.
Recognition of credit losses is no longer dependent on the Group first identifying a credit loss event. Instead, the
Group considers a broader range of information when assessing credit risk and measuring expected credit losses,
including past events, current conditions, reasonable and supportable forecasts that affect the expected
collectability of the future cash flows of the instrument.
In applying this forward-looking approach, a distinction is made between:
financial instruments that have not deteriorated significantly in credit quality since initial recognition or that
have low credit risk (‘Stage 1’) and
financial instruments that have deteriorated significantly in credit quality since initial recognition and whose
credit risk is not low (‘Stage 2’).
‘Stage 3’ would cover financial assets that have objective evidence of impairment at the reporting date.
‘12-month expected credit losses’ are recognised for the first category while ‘lifetime expected credit losses’ are
recognised for the second category.
Measurement of the expected credit losses is determined by a probability-weighted estimate of credit losses
over the expected life of the financial instrument.
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 40
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
(o)
Trade and other receivables and contract assets
Trade receivables are initially recognized at fair value and subsequently measured at amortised cost using the
effective interest method, less any allowance for expected credit losses. Trade receivables are generally due for
settlement within 30 days.
Other receivables are recognized at amortised cost, less any allowance for expected credit losses.
Contract assets are recognized when the consolidated entity has transferred goods or services to the customer
but where the consolidated entity is yet to establish an unconditional right to consideration.
The Group makes use of a simplified approach in accounting for trade and other receivables as well as contract
assets and records the loss allowance as lifetime expected credit losses. These are the expected shortfalls in
contractual cash flows, considering the potential for default at any point during the life of the financial instrument.
In calculating, the Group uses its historical experience, external indicators and forward-looking information to
calculate the expected credit losses using a provision matrix.
(p) Trade and other payable
Trade and other payables, including accruals, are recorded when the Group is required to make future payments
as a result of purchases of assets or services provided to the Group prior to the end of financial period. The
amounts are unsecured and are usually paid within 30 days of recognition. Trade and other payables are presented
as current liabilities unless payment is not due within 12 months from the reporting date. They are recognised at
cost.
(q)
Income tax
The income tax expense or benefit for the period is the tax payable on that period's taxable income based on the
applicable income tax rate for each jurisdiction, adjusted by the changes in deferred tax assets and liabilities
attributable to temporary differences, unused tax losses and the adjustment recognised for prior periods, where
applicable.
Deferred tax assets and liabilities are recognised for temporary differences at the tax rates expected to be applied
when the assets are recovered or liabilities are settled, based on those tax rates that are enacted or substantively
enacted, except for:
When the deferred income tax asset or liability arises from the initial recognition of goodwill or an asset or
liability in a transaction that is not a business combination and that, at the time of the transaction, affects
neither the accounting nor taxable profits; or
When the taxable temporary difference is associated with interests in subsidiaries, associates or joint
ventures, and the timing of the reversal can be controlled, and it is probable that the temporary difference
will not reverse in the foreseeable future.
Deferred tax assets are recognised for deductible temporary differences and unused tax losses only if it is probable
that future taxable amounts will be available to utilise those temporary differences and losses.
The carrying amount of recognised and unrecognised deferred tax assets are reviewed at each reporting date.
Deferred tax assets recognised are reduced to the extent that it is no longer probable that future taxable profits
will be available for the carrying amount to be recovered. Previously unrecognised deferred tax assets are
recognised to the extent that it is probable that there are future taxable profits available to recover the asset.
Deferred tax assets and liabilities are offset only where there is a legally enforceable right to offset current tax
assets against current tax liabilities and deferred tax assets against deferred tax liabilities; and they relate to the
same taxable authority on either the same taxable entity or different taxable entities which intend to settle
simultaneously.
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 41
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
(r) Current and non-current classification
Assets and liabilities are presented in the statement of financial position based on current and non-current
classification. An asset is classified as current when: it is either expected to be realised or intended to be sold or
consumed in the consolidated entity's normal operating cycle; it is held primarily for the purpose of trading; it is
expected to be realised within 12 months after the reporting period; or the asset is cash or cash equivalent unless
restricted from being exchanged or used to settle a liability for at least 12 months after the reporting period. All
other assets are classified as non-current.
A liability is classified as current when: it is either expected to be settled in the consolidated entity's normal
operating cycle; it is held primarily for the purpose of trading; it is due to be settled within 12 months after the
reporting period; or there is no unconditional right to defer the settlement of the liability for at least 12 months
after the reporting period. All other liabilities are classified as non-current.
Deferred tax assets and liabilities are always classified as non-current.
(s) Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and demand deposits, together with other short-term, highly
liquid investments that are readily convertible into known amounts of cash and which are subject to an
insignificant risk of changes in value.
(t)
Issued capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new shares or options
are shown in equity as a deduction, net of tax, from the proceeds.
(u) Dividends
Dividends are recognised when declared during the financial year and no longer at the discretion of the Company.
(v) Earnings per share
Basic earnings per share
Basic earnings per share is calculated by dividing the profit attributable to the owners of the Company, excluding
any costs of servicing equity other than ordinary shares, by the weighted average number of ordinary shares
outstanding during the financial year, adjusted for bonus elements in ordinary shares issued during the financial
year.
Diluted earnings per share
Diluted earnings per share adjusts the figures used in the determination of basic earnings per share to take into
account the after income tax effect of interest and other financing costs associated with dilutive potential ordinary
shares and the weighted average number of shares assumed to have been issued for no consideration in relation
to dilutive potential ordinary shares.
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 42
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
(w) Provisions
Provisions are recognised when the consolidated entity has a present (legal or constructive) obligation as a result
of a past event, it is probable the consolidated entity will be required to settle the obligation, and a reliable estimate
can be made of the amount of the obligation. The amount recognised as a provision is the best estimate of the
consideration required to settle the present obligation at the reporting date, taking into account the risks and
uncertainties surrounding the obligation. If the time value of money is material, provisions are discounted using a
current pre-tax rate specific to the liability. The increase in the provision resulting from the passage of time is
recognised as a finance cost.
(x) Employee benefits
Short-term employee benefits
Liabilities for wages and salaries, including non-monetary benefits, annual leave and long service leave expected
to be settled wholly within 12 months of the reporting date are measured at the amounts expected to be paid when
the liabilities are settled.
Other long-term employee benefits
The liability for annual leave and long service leave not expected to be settled within 12 months of the reporting
date are measured at the present value of expected future payments to be made in respect of services provided
by employees up to the reporting date using the projected unit credit method. Consideration is given to expected
future wage and salary levels, experience of employee departures and periods of service. Expected future
payments are discounted using market yields at the reporting date on corporate bonds with terms to maturity and
currency that match, as closely as possible, the estimated future cash outflows.
Defined contribution superannuation expense
Contribution to defined contribution superannuation plans are expensed in the period in which they are incurred.
(y) Goods and Services Tax
Revenues, expenses and assets are recognised net of GST except where GST incurred on a purchase of goods and
services is not recoverable from the taxation authority, in which case the GST is recognised as part of the cost of
acquisition of the asset or as part of the expense item.
Receivables and payables are stated with the amount of GST included. The net amount of GST recoverable from,
or payable to, the taxation authority is included as part of receivables or payables in the Statement of Financial
Position.
Cash flows are included in the Statement of Cash Flows on a gross basis and the GST component of cash flows
arising from investing and financing activities, which is recoverable from, or payable to, the taxation authorities
are classified as operating cash flows.
Commitments and contingencies are disclosed net of the amount of GST recoverable from, or payable to, the
taxation authority.
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 43
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
(z)
Share based payments
Share-based payments which have been granted to employees and third parties comprise of share rights and share
options.
Share rights
The value of share rights granted to key management personnel in a year is recognised as an employee benefit
expense with a corresponding increase in equity (share-based payments reserve). In the year in which the share
rights become vested, the value of share rights which have vested will be recognised in share capital reserve.
Upon issue of the related shares, the value in the share capital reserve is transferred to share capital. The basis
for the value recognised for each share right is the price at the time when the terms of the grant are agreed
between the Group and the counter party.
Share options
The fair value of options granted to key management personnel, employees and third-party service providers is
recognised as an employee benefit expense with a corresponding increase in equity (share-based payments
reserve). The fair value is measured at grant date and recognised over the period during which the employees
become unconditionally entitled to the options.
The fair value at grant date is determined using an appropriate valuation model that takes into account the
exercise price, the term of the option, the vesting and performance criteria, the impact of dilution, the non-
tradable nature of the option, the share price at grant date and expected price volatility of the underlying share,
the expected dividend yield and the risk-free interest rate for the term of the option.
The fair value of the options granted excludes the impact of any non-market vesting conditions (for example,
profitability and sales growth targets). Non-market vesting conditions are included in assumptions about the
number of options that are expected to become exercisable.
At each reporting date, the entity revises its estimate of the number of options that are expected to become
exercisable. The employee benefit expense recognised in each period takes into account the most recent estimate.
This estimate also requires determination of the most appropriate inputs to the valuation model including the
expected life of the share option, volatility and dividend yield and making assumptions about them.
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 44
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
(aa) Finance costs
Finance costs attributable to qualifying assets are capitalised as part of the cost of the asset. All other finance
costs are expensed in the period in which they are incurred.
(bb) Fair value measurement
When an asset or liability, financial or non-financial, is measured at fair value for recognition or disclosure
purposes, the fair value is based on the price that would be received to sell an asset or paid to transfer a liability
in an orderly transaction between market participants at the measurement date; and assumes that the transaction
will take place either: in the principal market; or in the absence of a principal market, in the most advantageous
market.
Fair value is measured using the assumptions that market participants would use when pricing the asset or liability,
assuming they act in their economic best interests. For non-financial assets, the fair value measurement is based
on its highest and best use. Valuation techniques that are appropriate in the circumstances and for which sufficient
data are available to measure fair value, are used, maximising the use of relevant observable inputs and minimising
the use of unobservable inputs.
Assets and liabilities measured at fair value are classified into three levels, using a fair value hierarchy that reflects
the significance of the inputs used in making the measurements. Classifications are reviewed at each reporting
date and transfers between levels are determined based on a reassessment of the lowest level of input that is
significant to the fair value measurement.
For recurring and non-recurring fair value measurements, external valuers may be used when internal expertise is
either not available or when the valuation is deemed to be significant. External valuers are selected based on
market knowledge and reputation. Where there is a significant change in fair value of an asset or liability from one
period to another, an analysis is undertaken, which includes a verification of the major inputs applied in the latest
valuation and a comparison, where applicable, with external sources of data.
2.
SEGMENT INFORMATION
Primary Reporting Format – Business Segments
The Group has one geographical location which is Australia. The Group operates a financial technology platform
to handle financial administration tasks such as lodging tax returns, wills and private health insurance.
Identification of reportable operating segments
The operating segment identified is based on the internal reports that are reviewed and used by the Directors
(who are identified as the Chief Operating Decision Makers ('CODM')) in assessing performance and in determining
the allocation of resources. There is no aggregation of operating segments. The CODM reviews EBITDA (Earnings
Before Interest, Tax, Depreciation and Amortisation). The accounting policies adopted for internal reporting to the
CODM are consistent with those adopted in the financial statements. The information reported to the CODM is on
at least a quarterly basis.
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 45
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
3.
REVENUE FROM CONTRACTS WITH CUSTOMERS
Revenue represents the value of professional services provided by the Group measured on a point in time basis.
Revenue from professional services
-
-
-
Tax Return Services
Lending Services
Other services
Revenue recognised at a point in time
Revenue recognised over time
CONSOLIDATED
31 December 2023
($)
31 December 2022
($)
3,852,693
3,735,514
45,300
71,879
1,620,121
1,463,657
5,550
150,914
3,852,693
1,620,121
3,852,693
1,620,121
-
-
3,852,693
1,620,121
No single customer contributed 10% or more to the Group’s external revenue during the year ended 31
December 2023 and 31 December 2022.
4.
OTHER INCOME
Sundry income
5.
EMPLOYEE EXPENSES
Wages and salaries
Superannuation
Annual leave
Long service leave
Super guarantee charges
Capitalised as intangible asset
Total employee expenses
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
CONSOLIDATED
31 December 2023
($)
31 December 2022
($)
59,659
59,659
2,971
2,971
CONSOLIDATED
31 December 2023
($)
31 December 2022
($)
2,008,740
213,002
64,830
26,105
-
(663,840)
1,648,837
1,120,009
114,859
33,156
37,210
3,528
(556,361)
752,401
PAGE 46
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
6.
SHARE BASED PAYMENTS EXPENSE
The primary purpose of share-based payments is to remunerate Directors, other Key Management Personnel and
Service providers for the services rendered to the Group.
Options issued to directors
Performance rights issued to Directors and employees
CONSOLIDATED
31 December 2023
($)
31 December 2022
($)
71,169
37,840
-
1,200,000
Share-based payment expenses recognised in statement of profit or loss
109,009
1,200,000
Options issued to Lead Manager in relation to the public offers
Share-based payment expenses recognised as share issue cost
Options issued to directors
CONSOLIDATED
31 December 2023
($)
31 December 2022
($)
-
-
276,654
276,654
At the 2023 Annual General Meeting held on 24 May 2023, shareholders approved the issue of options to the
Directors. The options were issued on 21 June 2023 and valued using the Black-Scholes option valuation model
with the following inputs:
1CGOP3 OPTIONS
16,000,002
$0.011
$0.025
90%
3 years
21/06/2026
3.34%
$71,169
$71,169
Number of options issued
Grant date share price
Exercise price
Expected volatility
Option life
Expiry
Interest rate
Valuation
Expensed in the period
The allocation of Options is as follows:
(i) 2,666,667 Options to Russell Baskerville
(ii) 2,666,667 Options to Winton Willesee
(iii) 5,333,334 Options to Mark Waller
(iv) 5,333,334 Options to Nathan Kerr
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 47
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Options exercisable at the end of the financial year
Grant date
Expiry date
15 September 2022
23 September 2025
21 June 2023
21 June 2026
No. of Options
2023
2022
25,000,000
25,000,000
16,000,002
-
41,000,002
25,000,000
The weighted average share price during the financial year was $0.02 (2022: $nil).
The remaining contractual life of options outstanding at the end of the financial year was 2.02 years (2022: 2.73
years).
Performance Right to directors
The share-based payments expense represents the expense for the financial year of the Performance Rights
granted to the Group’s Directors. The assessed fair value of these Performance Rights was determined using the
Hoadley Barrier 1 valuation model with the following inputs:
Input
Class C
Class D
Total
Number of performance rights
5,333,332
2,666,666
7,999,998
Fair value
Grant date
Vesting date
Expiry date
$0.0052
$0.0038
24/05/2023
24/05/2023
-
-
31/12/2024
31/12/2024
Expensed in the half-year ended 30 June 2023
$27,840
$10,000
$37,840
The vesting conditions for each tranche of Performance Rights is as follows:
(i) Class C Performance Rights: The Company’s Shares achieving a 20-day volume weighted average price
(VWAP) of $0.04 or more on or before 31 December 2024; and
(ii) Class D Performance Rights: The Company’s Shares achieving a 20-day VWAP of $0.055 or more on or
before 31 December 2024.
The allocation of Performance Rights as follows:
(i)
(ii)
(iii)
(iv)
1,333,333 Performance Rights to Russell Baskerville
1,333,333 Performance Rights to Winton Willesee
2,666,666 Performance Rights to Mark Waller
2,666,666 Performance Rights to Nathan Kerr
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 48
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
7.
INCOME TAX
The current applicable income tax rates are 25% on the net income of One Click Group Limited and wholly owned
subsidiary Mobile Business Devices Pty Ltd.
A deferred taxation asset and deferred taxation liability arising on temporary differences and unused tax losses
has not been recognised in these financial statements.
The numerical reconciliation between tax expense and the accounting
loss before income tax multiplied by the Group's applicable income tax
rate is as follows:
Accounting (loss) before income tax
Income tax expense/(benefit) calculated at the Group's applicable tax
rate
Tax effect of non-deductible expenses and non-assessable income
(permanent differences)
CONSOLIDATED
31 December 2023
($)
31 December 2022
($)
(2,599,477)
(6,907,854)
649,869
1,726,964
(27,252)
(1,018,580)
Tax effect of the de-recognition of tax losses and timing differences
(622,617)
(708,384)
Income tax (expense)/benefit
-
-
Historical tax losses not brought to account are estimated at $9,841,602 (2022: $9,640,753).
The benefit of the estimated income tax losses of $2,903,570 have not been bought to account as Deferred Tax
Asset.
The benefit for tax losses will only be obtained if:
(a) the Group derives future assessable income of a nature and an amount sufficient to enable the benefit from
the deductions for the losses to be realised;
(b) the Group continues to comply with the conditions for deductibility imposed by Law; and
(c) no changes in tax legislation adversely affect the ability of the Group to realise these benefits.
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 49
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
8.
FINANCIAL RISK MANAGEMENT
i. Overview
The financial risks arising from the Group’s operations comprise market, liquidity and credit risk. These risks arise
in the normal course of business, and the Group manages its exposure to them in accordance with the Group’s
portfolio risk management strategy.
The objective of the strategy is to support the delivery of the Group’s financial targets while protecting its future
financial security and flexibility by taking advantage of the natural diversification provided by the scale, diversity
and flexibility of the Group’s operations and activities.
This note presents information about the Group's exposure to each of the above risks, their objectives, policies
and processes for measuring risk and the management of capital.
The Group's Risk Management Framework is supported by the Board. The whole Board is responsible for approving
and reviewing the Group's Risk Management Strategy and Policy. Management is responsible for monitoring
appropriate processes for identifying, monitoring and managing significant business risks faced by the Group and
considering the effectiveness of its internal control system.
The Board has established an overall Risk Management Policy which sets out the Group’s system of risk oversight,
management of material business risks and internal control.
The Group holds the following financial instruments:
Financial assets
Cash and cash equivalents
Trade and other receivables
Financial Liabilities
Trade and other payables
CONSOLIDATED
31 December 2023
($)
31 December 2022
($)
1,096,263
2,786,490
969,769
543,931
(881,283)
(626,436)
ii. Financial Risk Management Objectives
The overall financial Risk Management Strategy focuses on the unpredictability of the finance markets and seeks
to minimise the potential adverse effects on financial performance and protect future financial security.
iii. Credit Risk
Credit risk is the risk of the financial loss to the Group if counterparty to a financial instrument fails to meet its
contractual obligations and the risk arises principally from the Group's cash and cash equivalents, deposits with
banks and financial institutions, and receivables.
Cash at bank is placed with reliable financial institutions. For banks and financial institutions, the Group banks only
with financial institution with high quality standing or rating.
The Group applies the AASB 9 simplified approach to measuring expected credit losses which uses a lifetime
expected loss allowance for all trade receivables. To measure the expected credit losses, trade receivables have
been grouped based on shared risk characteristics and the days past due. Trade receivables are written off when
there is no reasonable expectation of recovery. Impairment losses on trade receivables are presented as net
impairment losses within operating profit. Subsequent recoveries of amounts previously written off are credited
against the same line item.
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 50
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
The carrying amount of the Group’s financial assets represents the maximum credit exposure. The Group’s
maximum exposure to credit risk at the reporting date was:
CONSOLIDATED
31 December 2023
($)
31 December 2022
($)
Trade receivables
Counterparties without external credit rating, past due but not impaired
Existing customers (more than 6 months) with no defaults in the past
-
-
Counterparties without external credit rating, past due and impaired
Gross value (trade and other receivable)
Doubtful debt provision
Net value
Other receivables
R&D tax refund
GST receivable
Total trade and other receivables
Cash at bank and Commercial Bills
Cash at bank – National Australia Bank
Term deposit – National Australia Bank
Cash at bank – Commonwealth Bank
1,230,597
(469,795)
760,802
182,473
26,494
969,769
726,601
(470,245)
256,356
209,012
78,563
543,931
1,043,350
2,437,393
5,000
47,913
5,000
344,097
1,096,263
2,786,490
iv.Liquidity Risk
Liquidity risk arises from the financial liabilities of the Group and the Group’s subsequent ability to meet their
obligations to repay their financial liabilities as and when they fall due.
Ultimate responsibility for Liquidity Risk Management rests with the Board of Directors. The Board has determined
an appropriate Liquidity Risk Management Framework for the management of the Group’s short, medium and
long-term funding and liquidity management requirements. The Group manages liquidity risk by maintaining
adequate reserves and continuously monitoring budgeted and actual cash flows and matching the maturity
profiles of financial assets, expenditure commitments and liabilities.
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 51
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
The amounts disclosed in the table are the contractual undiscounted cash flows. Balances due within 12 months
equal their carrying amounts as the impact of the discounting is not significant.
Contractual maturities of
financial liabilities
Less than
6 months ($)
6 – 12
months ($)
More than 12
months ($)
Total ($)
Carrying
Amount ($)
Group - at 31 December
2023
Trade and other payables
Total
Group - at 31 December
2022
Trade and other payables
Total
v. Market Risk
881,283
881,283
626,436
626,436
-
-
-
-
-
-
-
-
881,283
881,283
881,283
881,283
626,436
626,436
626,436
626,436
Market risk is the risk that changes in market prices, such as foreign exchange rates may affect the Group’s income
or the value of its holdings of financial instruments. The objective of Market Risk Management is to manage and
control market risk exposures within acceptable parameters, while optimising return.
vii. Interest Rate Risk
The Group’s exposure to interest rates primarily relates to the Group’s cash and cash equivalents. As the Group has
no significant interest-bearing assets, its income and operating cash flows are substantially independent of changes
in market interest rates. The Group has a low level of interest-bearing liabilities and as such does not actively manage
exposure to interest rate risk
Profile
At the reporting date, the interest rate profile of the Group’s interest-bearing financial instruments are:
Variable Rate Instruments
Financial Assets
Financial Liabilities
CONSOLIDATED
31 December 2023
($)
1,096,263
(174,050)
922,213
31 December 2022
($)
2,786,490
(234,040)
2,552,450
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 52
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
The Group’s exposure to interest rate risk and effective weighted average interest rate by maturing periods is set
out in tables below. All cash balances are subject to a floating interest rate.
31 December 2023
Cash and cash equivalents
Financial liabilities
31 December 2022
Weighted Average
Effective Interest
Rate
Cash Available for
use
1.51%
8%
1,096,263
-
Weighted Average
Effective Interest Rate
Cash Available for
use
Cash and cash equivalents
Financial liabilities
0.95%
8%
2,786,490
-
Cash Flow Sensitivity Analysis for Variable Rate Instruments
Up to the end of the reporting period, the Group did not have any hedging policy with respect to interest rate risk
as exposure to such risk was not deemed to be significant by the directors since these assets are of a short- term
nature. Management considers the potential impact on profit or loss of a defined interest rate shift that is
reasonably probable at the end of the reporting period to be immaterial.
9.
CASH AND CASH EQUIVALENTS
Cash and cash equivalents included in the Consolidated Statement of Cash Flows comprise the following
Consolidated Statement of Financial Position amounts:
Cash at Bank and on hand
Term Deposit
CONSOLIDATED
30 December 2023
($)
31 December 2022
($)
1,091,263
2,781,490
5,000
5,000
1,096,263
2,786,490
The term deposit amount is used as security for credit cards. No amount of the Group’s Cash at bank and on hand
is restricted (31 December 2022: Nil). Refer to Note 9 Financial Risk Management for risk exposure analysis for
Cash and cash equivalents.
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 53
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
10.
TRADE AND OTHER RECEIVABLES
Trade receivables
Allowance for credit losses
R&D Tax Refund
GST Receivable
Other Receivable
CONSOLIDATED
30 December 2023
($)
31 December 2022
($)
1,122,403
(469,795)
182,473
26,495
108,193
969,769
691,601
(470,245)
209,012
78,563
35,000
543,931
The ageing of the trade and other receivables and allowance for expected credit losses provided for above are as
follows:
Expected credit loss
rate
Carrying amount
Allowance for expected
credit losses
2023
%
2022
%
2023
$
2022
$
2023
$
2022
$
Consolidated
Not overdue
0 to 1 month overdue
1 to 5 months overdue
-
2%
4%
Over 6 months overdue
82%
-
84,910
36,540
850
-
60%
60%
90%
31,585
34,022
621
17,795
569,226
544,875
259,228
361,811
23,408
126,820
444,916
325,630
1,230,596
691,601
469,795
470,245
An income of $3,308 has been recognised during the financial period due to over provision for expected credit
losses (2022: expense of $143,578).
11.
OTHER CURRENT ASSETS
Prepayments
Work In Progress
Other Assets
CONSOLIDATED
31 December 2023
($)
31 December 2022
($)
75,208
12,706
306,440
394,354
111,509
10,481
-
121,990
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 54
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
12.
PLANT AND EQUIPMENT
Plant and equipment – at cost
Accumulated depreciation
Reconciliations
CONSOLIDATED
31 December 2023
($)
31 December 2022
($)
31,344
(19,596)
11,748
12,485
(12,485)
-
Reconciliations of the written down values at the beginning and end of the current financial year are set out
below:
CONSOLIDATED
($)
-
18,858
-
(7,110)
11,748
Balance at 31 December 2022
Additions
Disposals
Depreciation expense
Balance at 30 June 2023
13.
INTANGIBLE ASSETS
For the year ended 31 December 2023
Cost
Opening Balance 1 January 2023
Addition
R&D Refund
Balance at 31 December 2023
Depreciation and impairment
Balance at 1 January 2023
Amortisation expense
Balance at 31 December 2023
Carrying amount 31 December 2023
(A)
Software assets
CONSOLIDATED
31 December 2023
31 December 2022
($)
($)
2,692,919
735,893
(439,993)
2,988,819
2,541,392
581,362
(429,835)
2,692,919
(1,962,671) (1,373,325)
(601,600)
(2,564,271)
424,548
(589,346)
(1,962,671)
730,248
The Group developed the One Click Life Platform, which provides taxation preparation software and services
in Australia. Costs capitalised include costs directly attributable to the development of the asset. The Platform
delivered to market has begun generating revenues.
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 55
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
(B)
Amortisation
Amortisation is charged to the Statement of Profit or Loss using the straight-line basis over the estimated useful
life of the intangible asset. The estimated useful life of the software intangible assets has been determined to
be 5 years (2022: 6 years).
The residual value, the useful life and the amortisation method applied to the intangible asset are reviewed at
each financial year end and adjusted if required.
14.
TRADE AND OTHER PAYABLES
Trade payables
Accrued expenses
Other payables
15.
PROVISION FOR EMPLOYEE BENEFITS
Current
Annual leave
Long service leave
Total employee benefits
CONSOLIDATED
31 December 2023
($)
31 December 2022
($)
113,112
126,067
642,104
881,283
213,379
338,956
74,101
626,436
CONSOLIDATED
31 December 2023
($)
31 December 2022
($)
141,682
90,741
232,423
76,853
64,635
141,488
The current provision for employee benefits includes all unconditional entitlements where employees have
completed the required period of service and also those where employees are entitled to pro-rata payments in
certain circumstances. The entire amount is presented as current, since the consolidated entity does not have
an unconditional right to defer settlement. However, based on experience, the consolidated entity does not
expect all employees to take the full amount of accrued leave or require payment within the next 12 months.
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 56
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
16.
FINANCIAL LIABILITIES
Current
Related party loans ¹
Convertible note
Total financial liabilities
CONSOLIDATED
31 December 2023
($)
31 December 2022
($)
174,050
-
174,050
209,040
25,000
234,040
¹ Loans from Directors as at 31 December 2023 are as follows:
Lender
Amount
Interest Rate
Interest for the
period
Term
Mark Waller
Total Related Party
174,050
174,050
8%
14,899
14,899
No fixed term
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 57
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
17.
CONTRIBUTED EQUITY
Ordinary Shares
Total Share Capital
Movements of share capital during the year
2023 (Shares)
2022 (Shares)
2023 ($)
2022 ($)
759,793,478
685,903,321
12,817,198
11,898,499
759,793,478
685,903,321
12,817,198
11,898,499
Date
Details
No of shares
Issue price
($)
$
Opening Balance at 1 January 2023
685,903,321
11,898,499
28/07/2023
Options exercises
809,542
$0.02
16,191
15/09/2022
Shares issues pursuant to the public offer
73,080,615
$0.015
1,096,209
15/09/2022
Capital raising costs
Closing Balance at 31 December 2023
759,793,478
(193,701)
12,817,198
The holder of Ordinary Shares is entitled to participate in dividends and the proceeds on winding up of the Group
in proportion to the number of and amounts paid on the shares held. On a show of hands every holder of ordinary
shares present at a meeting in person or by proxy, is entitled to one vote, and upon a poll each share is entitled to
one vote. Ordinary Shares have no par value and the Group does not have a limited amount of authorised capital.
Movements of share capital during the previous year
Date
Details
Opening Balance at 1 January 2022
15/09/2022
Retrospective adjustment in accordance with the
requirements of reverse acquisition accounting
15/09/2022
Recognition of shares in One Click Group Limited
(formerly UUV Aquabotix Ltd) in accordance with the
requirements of reverse acquisition accounting
No of shares
Issue price
($)
123,238,217
(123,238,217)
120,903,321
$
3,940,987
-
-
15/09/2022
Shares issued for the acquisition of Mobile Business
Devices Pty Ltd
265,000,000
-
2,418,070
15/09/2022
Shares issues pursuant to the public offer
275,000,000
$0.02
5,500,000
15/09/2022
Issue of shares on conversion of convertible notes in
vendor
25,000,000
$0.02
500,000
15/09/2022
Capital raising costs
Closing Balance at 31 December 2022
685,903,321
(460,558)
11,898,499
Dividends
There were no dividends proposed or paid during the financial year.
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 58
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
18.
RESERVES
Options reserve (a)
Performance rights reserve (b)
(a) Movement in option reserve
Balance as at 1 January 2022
31 December 2023
($)
31 December 2022
($)
347,823
1,237,840
1,585,663
276,654
1,200,000
1,476,654
No. of Options
$
60,817,194
-
-
-
276,654
276.654
15 September 2022 Issue of Class 1CGOESC12 options
15 September 2022 Issue of Class 1CGOESC24 options
10,700,000
1,800,000
16 November 2021 Issue of F Class 1CGUOPAH options to Lead Manager
25,000,000
Balance as at 31 December 2022
98,317,194
30 June 2023 Issue of Class 1CGOPT1 options to Director (Note 6)
16,000,002
71,169
17 November 2023 Issue of 1CGO options to placement participants
36,540,346
28 July 2023 Exercise of 1CGOA options
28 July 2023 Expiry of Class 1CGOA options
24 December 2023 Expiry of Class 1CGUOPAD options
24 December 2023 Expiry of Class 1CGUOPAE options
24 December 2023 Expiry of Class 1CGUOPAF options
24 December 2023 Expiry of Class 1CGUOPAG options
(809,542)
(57,420,152)
(1,637,500)
(300,000)
(325,000)
(325,000)
-
-
-
-
-
-
-
Balance as at 31 December 2023
90,040,348
347,823
The options on issue as at 31 December 2023 are as follows:
Grant date
Class of option
No. of Options
Exercise price
Expiry date
15 September 2022
1CGOESC12
15 September 2022
1CGOESC24
15 September 2022
1CGUOPAH
30 June 2023
22 November 2023
Total
1CGOPT1
1CGO
10,700,000
1,800,000
25,000,000
16,000,002
36,540,346
90,040,348
$0.025
15 September 2025
$0.025
15 September 2025
$0.03
23 September 2025
$0.025
21 June 2026
$0.03
17 November 2026
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 59
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
(b) Movements in performance rights reserve
No. of Performance
Rights
$
Balance as at 1 January 2022
31 December 2022 A & B Class Performance Rights issued to directors
Balance as at 31 December 2022
-
60,000,000
60,000,000
-
1,200.000
1,200,000
30 June 2023 C & D Class Performance Rights issued to directors (Note 6)
7,999,998
37,840
Balance as at 31 December 2023
67,999,998
1,237,840
The performance rights on issue as at 31 December 2023 are as follows:
Grant date
15 September 2022
15 September 2022
24 May 2023
24 May 2023
Total
Class of
performance rights
No. of
Performance
Rights
Exercise price
Expiry date
Class A
Class B
Class C
Class D
30,000,000
30,000,000
5,333,332
2,666,666
67,999,998
-
-
-
-
15 September 2027
15 September 2027
31 July 2026
31 July 2026
19.
CASH FLOW INFORMATION
Reconciliation of cash flow from operating activities with the
loss from continuing operations after income tax:
Non-cash flows in profit from ordinary activities
Net (Loss) after Income Tax
Non cash items
Share based payments
Listing expense
Depreciation and amortisation as per profit and loss
Provision for doubtful debts
Provision of leaves
Bad debt written off
Changes in assets & liabilities
Decrease in trade and other receivables
Decrease in trade and other payables
Cash flow used in Operating Activities
CONSOLIDATED
31 December 2023
($)
31 December 2022
($)
(2,599,477)
(6,907,852)
109,009
-
608,712
(3,308)
90,935
143,578
(865,012)
254,852
1,200,000
2,874,318
601,830
429,669
70,366
-
(260,105)
(535,860)
(2,260,711)
(2,527,634)
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 60
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
20.
INTERESTS IN OTHER ENTITIES
Mobile Business Devices Pty Ltd
Australia
100%
100%
Principal Place of business
Ownership Interest held by the
Group
21.
MATTERS SUBSEQUENT TO THE END OF THE FINANCIAL YEAR
No matter or circumstances have arisen since 31 December 2023 that has significantly affected, or may
significantly affect the Group's operations, the results of those operations, or the Group's state of affairs in future
financial years.
22.
REMUNERATION OF AUDITOR
During the year the following fees were paid or payable for services provided by the Auditor of the Entity and its
related parties.
Audit and Other Assurance Services
RSM Australia Partners
Total remuneration for Audit and Other Assurance Services
CONSOLIDATED
31 December 2023 ($)
31 December 2022 ($)
67,000
67,000
49,595
49,595
23.
COMMITMENTS
The Company has no commitments as at 31 December 2023 (2022: $nil).
24.
LOSS PER SHARE
Basic loss per share (cents per share)
(0.37)
(1.78)
CONSOLIDATED
31 December 2023 ($)
31 December 2022 ($)
(Loss) used in the calculation of Earnings (Loss) Per Share
(2,599,477)
(6,907,854)
Weighted average number of ordinary shares
695,059,035
387,662,069
Effect of dilutive securities: Share options are not considered dilutive as the conversion of options to ordinary
shares will result in a decrease in the net loss per share.
25.
CONTINGENT LIABILITIES
The Board is not aware of any circumstances or information, which leads them to believe there are any material
contingent liabilities outstanding as at 31 December 2023.
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 61
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
26.
FAIR VALUES OF FINANCIAL ASSETS AND LIABILITIES
At 31 December 2023 and 31 December 2022, the carrying amounts of financial assets and financial liabilities
classified with current assets and current liabilities respectively approximated their fair values due to the short-
term maturities of these assets and liabilities. The fair values of non-current financial assets and non-current
financial liabilities are not materially different from their carrying amounts.
27.
RELATED PARTY DISCLOSURES
Parent Entity
The legal Parent Entity of the Group is One Click Group Limited (1CG). 1CG owns 100% of the issued ordinary
shares of Mobile Business Devices Pty Ltd.
Wholly owned Group transactions
Loans made by One Click Group Limited to wholly owned subsidiary companies are contributed to meet required
expenditure payable on demand and are not interest bearing.
Key Management Personnel
Short-term employee benefits
Share-based payments
CONSOLIDATED
31 December 2023 ($)
31 December 2022 ($)
595,160
109,008
704,168
261,246
780,000
1,041,246
Detailed remuneration disclosures for Directors and Executives are provided in the Remuneration Report on pages
14 to 24.
Transactions with key management personnel and their related parties
Payments to Azalea Corporate Services Pty Ltd (director related entities of Winton Willesee) of $132,900 (2022:
$33,342) for corporate service fees including company secretarial services, accounting and financial reporting
services and front and registered office services.
Payments to Forrest Private Wealth Pty Ltd (director related entity of Mark Waller) of $34,449 (2022: $56,418) for
leased offices located at the principal place of business.
Current Payables
Current
31 December 2022 ($)
31 December 2022 ($)
Payable to Forrest Private Wealth Pty Ltd (director related entity of Mark
Waller)
Total
32,423
32,423
15,324
15,324
CONSOLIDATED
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 62
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Loans from Directors as at 31 December 2023 are as follows:
Lender
Amount
Interest Rate
Interest for the
period
Term
Mark Waller
Total Related Party
174,050
174,050
8%
14,899
14,899
No fixed term
Loans from Directors as at 31 December 2022 are as follows:
Lender
Mark Waller
Nathan Kerr
Total Related Party
Amount
Interest Rate
Interest for the
period
Term
174,050
34,990
209,040
8%
8%
10,665
1,202
11,867
No fixed term
No fixed term
The loan interest payable to Director Mark Waller as at 31 December 2023 is $28,164 (2022: $22,200).
The loan interest payable to Director Nathan Kerr as at 31 December 2023 is $Nil (2022: $7,600).
Transactions between related parties are on normal commercial terms and conditions no more favourable than
those available to other parties unless otherwise stated.
There were no further transactions with Directors or other Key Management Personnel, including their personally
related parties, not disclosed the above.
28.
PARENT ENTITY INFORMATION
The following information related to the Parent Entity, One Click Group Limited, as at 31 December 2023.
The information presented here has been prepared using accounting policies as presented in Note 1.
Current assets
Non-current assets
Total Assets
Current liabilities
Non-current liabilities
Total Liabilities
Net Assets
Contributed equity
Reserve
Accumulated losses
Total Equity
31 December 2023
($)
31 December 2022
($)
1,103,560
621,563
5,064,710
2,418,070
1,725,123
7,482,780
116,197
-
116,197
84,457
-
84,457
1,608,926
7,398,323
22,210,903
21,292,205
2,922,855
2,813,847
(23,524,832)
(16,707,729)
1,608,926
7,398,323
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 63
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Loss after tax for the year
Other comprehensive profit/(loss) for the year
Total Comprehensive Loss for the Year
31 December 2023
($)
31 December 2022
($)
(6,817,104)
(1,578,597)
-
-
(6,817,104)
(1,578,597)
Contingent Liabilities
The parent entity has no contingent liabilities as at 31 December 2023 and 31 December 2022.
Commitments
The parent entity has no commitments as at 31 December 2023 and 31 December 2022.
Significant Accounting Policies
The accounting policies of the parent entity are consistent with those of the consolidated entity as disclosed in
Note 1.
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 64
DIRECTORS’ DECLARATION
In the opinion of the Directors of One Click Group Limited (Group):
(a)
(b)
(c)
the Financial Statements, comprising the consolidated statement of profit or loss and other
comprehensive income, consolidated statement of financial position, consolidated statement of cash
flows, consolidated statement of changes in equity, and Notes set out on pages 29 to 64, are in
accordance with the Corporations Act 2001, including:
(i)
(ii)
giving a true and fair view of the Group’s financial position as at 31 December 2023 and of their
performance, for the financial period ended on that date; and
complying with Australian Accounting Standards (including the Australian Accounting
Interpretations) and Corporations Regulations 2001; and other mandatory professional
reporting requirements.
the Financial Report also complies with International Financial Reporting Standards as disclosed in Note
1; and
there are reasonable grounds to believe that the Group will be able to pay its debts as and when they
become due and payable.
The Directors have been given the declarations required by Section 295A of the Corporations Act 2001.
Signed in accordance with a resolution of the Directors.
Winton Willesee
Director
Dated at Perth, Western Australia, 28 February 2024
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 65
INDEPENDENT AUDITOR’S REPORT
TO THE MEMBERS OF ONE CLICK GROUP LIMITED
Opinion
We have audited the financial report of One Click Group Limited (the Company) and its subsidiaries (the Group),
which comprises the consolidated statement of financial position as at 31 December 2023, the consolidated
statement of profit or loss and other comprehensive income, the consolidated statement of changes in equity and
the consolidated statement of cash flows for the year then ended, and notes to the financial statements, including
a summary of significant accounting policies, and the directors' declaration.
In our opinion, the accompanying financial report of the Group is in accordance with the Corporations Act 2001,
including:
(i)
giving a true and fair view of the Group's financial position as at 31 December 2023 and of its financial
performance for the year then ended; and
(ii)
complying with Australian Accounting Standards and the Corporations Regulations 2001.
Basis for Opinion
We conducted our audit in accordance with Australian Auditing Standards. Our responsibilities under those
standards are further described in the Auditor's Responsibilities for the Audit of the Financial Report section of
our report. We are independent of the Group in accordance with the auditor independence requirements of the
Corporations Act 2001 and the ethical requirements of the Accounting Professional and Ethical Standards Board's
APES 110 Code of Ethics for Professional Accountants (the Code) that are relevant to our audit of the financial
report in Australia. We have also fulfilled our other ethical responsibilities in accordance with the Code.
We confirm that the independence declaration required by the Corporations Act 2001, which has been given to
the directors of the Company, would be in the same terms if given to the directors as at the time of this auditor's
report.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our
opinion.
Key Audit Matters
Key audit matters are those matters that, in our professional judgement, were of most significance in our audit of
the financial report of the current period. These matters were addressed in the context of our audit of the financial
report as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters.
Key Audit Matter
How our audit addressed this matter
Revenue Recognition - Cut Off
As disclosed in the consolidated statement of profit or
loss and other comprehensive income, the Group has
recognised revenue of $3,852,693 for the year ended
31 December 2023.
We determined revenue recognition in relation to cut
off to be a key audit matter as the revenue balance is
material to the Group and there are risks associated
with the timing of revenue recognition.
Going Concern
The Group incurred a loss of $2,599,477 and had net
cash outflows from operating activities of $2,260,711
for the year ended 31 December 2023.
The directors have prepared the financial report on the
going concern basis. The directors' assessment of the
Group's ability to continue as a going concern is based
on a cash flow budget.
We determined this assessment of going concern to
be a key audit matter due to the significant judgments
involved in preparing the cash flow budget, and the
potential material
results of
impact of
management´s assessment.
the
Our audit procedures included:
• Testing a sample of revenue transactions before
and after the reporting date to assess whether
revenue is recognised in the correct financial period;
financial
the disclosures
• Assessing
the
in
statements.
Our audit procedures included:
• Critically assessing the directors' reasons as to why
they believe it is appropriate to prepare the financial
report on a going concern basis;
• Assessing the current financial position of the
Group;
• Assessing the appropriateness and mathematical
accuracy of the cash flow budget prepared by
management;
• Challenging the reasonableness of key assumptions
used by management to prepare the cash flow
budget;
• Performing sensitivity testing on these assumptions;
and
• Assessing the adequacy of the going concern
disclosures in the financial report.
Other Information
The directors are responsible for the other information. The other information comprises the information included
in the Group's annual report for the year ended 31 December 2023 but does not include the financial report and
the auditor's report thereon.
Our opinion on the financial report does not cover the other information and accordingly we do not express any
form of assurance conclusion thereon.
In connection with our audit of the financial report, our responsibility is to read the other information and, in doing
so, consider whether the other information is materially inconsistent with the financial report or our knowledge
obtained in the audit or otherwise appears to be materially misstated.
If, based on the work we have performed, we conclude that there is a material misstatement of this other
information, we are required to report that fact. We have nothing to report in this regard.
Responsibilities of the Directors for the Financial Report
The directors of the Company are responsible for the preparation of the financial report that gives a true and fair
view in accordance with Australian Accounting Standards and the Corporations Act 2001 and for such internal
control as the directors determine is necessary to enable the preparation of the financial report that gives a true
and fair view and is free from material misstatement, whether due to fraud or error.
In preparing the financial report, the directors are responsible for assessing the ability of the Group to continue as
a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of
accounting unless the directors either intend to liquidate the Group or to cease operations, or have no realistic
alternative but to do so.
Auditor's Responsibilities for the Audit of the Financial Report
Our objectives are to obtain reasonable assurance about whether the financial report as a whole is free from
material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion.
Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance
with the Australian Auditing Standards will always detect a material misstatement when it exists. Misstatements
can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably
be expected to influence the economic decisions of users taken on the basis of this financial report.
A further description of our responsibilities for the audit of the financial report is located at the Auditing and
Assurance Standards Board website at: https://www.auasb.gov.au/auditors_responsibilities/ar2.pdf. This
description forms part of our auditor's report.
Report on the Remuneration Report
Opinion on the Remuneration Report
We have audited the Remuneration Report included within the directors' report for the year ended 31 December
2023.
In our opinion, the Remuneration Report of One Click Group Limited, for the year ended 31 December 2023,
complies with section 300A of the Corporations Act 2001.
Responsibilities
The directors of the Company are responsible for the preparation and presentation of the Remuneration Report
in accordance with section 300A of the Corporations Act 2001. Our responsibility is to express an opinion on the
Remuneration Report, based on our audit conducted in accordance with Australian Auditing Standards.
RSM AUSTRALIA PARTNERS
Perth, WA
Dated: 28 February 2024
TUTU PHONG
Partner
ASX ADDITIONAL INFORMATION
The shareholder information set out below was applicable as at 12 February 2024.
1.
Quotation
Listed securities in One Click Group Limited are quoted on the Australian Securities Exchange under
ASX code 1CG (Fully Paid Ordinary Shares) and 1CGOA (Listed Options) and are not quoted on any
other exchange.
2.
Voting Rights
The voting rights attached to the Fully Paid Ordinary Shares of the Company are, at a meeting of
members or classes of members:
(a)
each member entitled to vote may vote in person or by proxy, attorney or representative; and
(b)
(c)
on a show of hands, every person present, who is a member or a proxy, attorney or
representative of a member has one vote (even though they may represent more than
one member); and
on a poll, every person present who is a member or a proxy, attorney or representative
of a member, has one vote for each Fully Paid Ordinary Share held by the member, or in
respect of which she or he is appointed a proxy, attorney or representative.
There are no voting rights attached to any Options or Performance Rights on issue.
3.
Distribution of Equity Securities:
i)
Fully Paid Ordinary Shares
Shares Range
1 - 1,000
1,001 - 5,000
5,001 - 10,000
10,001 - 100,000
100,001 and above
Total
Holders
173
140
197
808
470
1,788
Units
71,908
419,757
1,620,117
33,916,071
723,765,625
759,793,478
%
0.01
0.06
0.21
4.46
95.26
100.00%
On 12 February 2024, there were 1,145 holders of unmarketable parcels of less than 62,500
Fully Paid Ordinary Shares (based on the last share price of $0.008).
ii)
1CGOA Listed Options exercisable at $0.03 on or before 17 November 2026
Shares Range
1 - 1,000
1,001 - 5,000
5,001 - 10,000
10,001 - 100,000
100,001 and above
Total
Holders
11
26
17
52
43
149
Units
4,901
66,023
135,985
1,751,116
34,582,321
36,540,346
%
0.01
0.18
0.37
4.79
94.65
100.00%
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 69
iii)
1CGOESC12 Unlisted Options exercisable at $0.025 on or before 15 September 2025
Holders
Units
125,000
10,575,000
10,700,000
1.17
98.83
100.00%
iv)
1CGOESC24 Unlisted Options exercisable at $0.025 on or before 15 September 2025 (escrowed
to 27 September 2024)
Shares Range
1 - 1,000
1,001 - 5,000
5,001 - 10,000
10,001 - 100,000
100,001 and above
Total
Holders
Units
-
-
-
1
4
5
-
-
-
50,000
1,750,0001
1,800,000
%
-
-
-
2.78
97.22
100.00%
1 Holders who hold more than 20% of securities are:
a. Mr Albert Lilie & Mrs Phei Li Ong – 625,000 options;
b. Mr Ardika Kharismageng – 625,000 options; and
c. Trillo Superannuation Pty Ltd – 375,000 options.
v)
1CGUOPAH Unlisted Options exercisable at $0.03 on or before 23 September 2025
Holders
Units
Shares Range
1 - 1,000
1,001 - 5,000
5,001 - 10,000
10,001 - 100,000
100,001 and above
Total
Shares Range
1 - 1,000
1,001 - 5,000
5,001 - 10,000
10,001 - 100,000
100,001 and above
Total
-
-
-
2
19
21
-
-
-
-
1
1
%
-
-
-
%
-
-
-
-
-
-
-
-
-
-
-
25,000,0001
25,000,000
100.00
100.00%
1 Held by CG Nominees (Australia) Pty Ltd
vi)
1CGOPT1 Unlisted Options exercisable at $0.025 on or before 21 June 2026
Shares Range
1 - 1,000
1,001 - 5,000
5,001 - 10,000
10,001 - 100,000
Holders
Units
-
-
-
-
-
-
-
-
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
%
-
-
-
-
PAGE 70
100,001 and above
Total
4
4
16,000,0021
16,000,002
100.00
100.00%
1 Holders who hold more than 20% of securities are:
a. Nathan Jeffery Thomas Kerr - 5,333,334 options; and
b. Mark Waller - 5,333,334 options.
vii)
1CGPERFA12 Performance Rights exercisable on or before 15 September 2027
Holders
Units
8,700,0001
8,700,000
100.00
100.00%
1 Holders who hold more than 20% of securities are:
a. Peter Stevens – 3,000,000 performance rights;
b. Mr Nicholas Thomas Taylor – 1,800,000 performance rights; and
c. Robbie Graham – 1,800,000 performance rights.
viii)
1CGPERFA24 Performance Rights exercisable on or before 15 September 2027 (escrowed to 27
September 2024)
Holders
Units
21,300,0001
21,300,000
100.00
100.00%
1Holders who hold more than 20% of securities are:
a. Mark Waller – 9,000,000 performance rights; and
b. Nathan Jeffery Thomas Kerr – 9,000,000 performance rights.
ix)
1CGPERFB12 Performance Rights exercisable on or before 15 September 2027
Holders
Units
Shares Range
1 - 1,000
1,001 - 5,000
5,001 - 10,000
10,001 - 100,000
100,001 and above
Total
Shares Range
1 - 1,000
1,001 - 5,000
5,001 - 10,000
10,001 - 100,000
100,001 and above
Total
Shares Range
1 - 1,000
1,001 - 5,000
5,001 - 10,000
10,001 - 100,000
100,001 and above
Total
-
-
-
-
8
8
-
-
-
-
5
5
-
-
-
-
8
8
%
-
-
-
-
%
-
-
-
-
%
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
8,700,0001
8,700,000
100.00
100.00%
1 Holders who hold more than 20% of securities are:
a. Peter Stevens – 3,000,000 performance rights;
b. Mr Nicholas Thomas Taylor – 1,800,000 performance rights; and
c. Robbie Graham – 1,800,000 performance rights.
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 71
x)
1CGPERFB24 Performance Rights exercisable on or before 15 September 2027 (escrowed to
27 September 2024)
Holders
Units
21,300,0001
21,300,000
100.00
100.00%
1Holders who hold more than 20% of securities are:
a. Mark Waller – 9,000,000 performance rights; and
b. Nathan Jeffery Thomas Kerr – 9,000,000 performance rights.
xi)
1CGPERF1 Performance Rights exercisable on or before 31 July 2026
Holders
Units
5,333,3321
5,333,332
100.00
100.00%
1Holders who hold more than 20% of securities are:
a. Mark Waller – 1,333,333 performance rights;
b. Nathan Jeffery Thomas Kerr – 1,333,333 performance rights;
c. Baskerville Investments Pty Ltd – 1,333,333 performance rights; and
d. Chincherinchee Nominees Pty Ltd – 1,333,333 performance rights.
xii)
1CGPERF2 Performance Rights exercisable on or before 31 July 2026
Holders
Units
Shares Range
1 - 1,000
1,001 - 5,000
5,001 - 10,000
10,001 - 100,000
100,001 and above
Total
Shares Range
1 - 1,000
1,001 - 5,000
5,001 - 10,000
10,001 - 100,000
100,001 and above
Total
Shares Range
1 - 1,000
1,001 - 5,000
5,001 - 10,000
10,001 - 100,000
100,001 and above
Total
-
-
-
-
5
5
-
-
-
-
4
4
-
-
-
-
2
2
%
-
-
-
-
%
-
-
-
-
%
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
2,666,6661
2,666,666
100.00
100.00%
1Holders who hold more than 20% of securities are:
a. Mark Waller – 1,333,333 performance rights; and
b. Nathan Jeffery Thomas Kerr – 1,333,333 performance rights.
4.
Substantial Shareholders
The names of the substantial shareholders in the Company and the number of equity securities to
which each substantial holder and the substantial holder’s associates have a relevant interest, as
disclosed in substantial holding notices given to the Company as at 12 February 2024, are as follows:
Name: Mark Edward Waller
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 72
Holder of: 64,288,002 fully paid ordinary shares, representing 8.53% as at 17 November 2023
Notice Received: 22 November 2023
5.
Restricted Securities
The following restricted securities are listed on the Company’s register as at 12 February 2024:
Escrowed to 27 September 2024
71,614,655 Fully Paid Ordinary Shares
1,800,000 1CGOESC24 Unlisted Options ($0.025, 15 September 2025)
25,000,000 1CGUOPAH Unlisted Options ($0.03, 23 September 2025)
21,300,000 1CGPERFA24 Performance Rights (15 September 2027)
21,300,000 1CGPERFB24 Performance Rights (15 September 2027)
6.
On market buy-back
There is currently no on market buy-back in place.
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 73
7.
Twenty Largest Shareholders:
The twenty largest holders of the Company’s Fully Paid Ordinary Shares as at 12 February 2024 are as
follows:
1CG Fully Paid Ordinary Shares:
Name
No. of Shares
1 MR MARK EDWARD WALLER
2 MR PASQUALE BEVILACQUA
3
4
5
6
7
8
9
ICE COLD INVESTMENTS PTY LTD
BASKERVILLE INVESTMENTS PTY LTD
HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED
NATHAN JEFFERY THOMAS KERR
MR ROBERT JAMES GRAHAM + MRS VICTORIA GRAHAM
RECO HOLDINGS PTY LTD
URBAN LIFE SCIENCES PTY LTD
10 HAGAKURE PTY LTD
11
12
THE DYSON FUND PTY LTD
TBG CAPITAL PTY LTD
13 MR ANTONI MARGOS
14
15
16
17
LIGURIAN HOLDINGS PTY LTD
EMAMEVLO PTY LTD
JCEA1976 PTY LTD
JASMINE INDUSTRIES PTY LTD
18 MR THOMAS PAUL MANNING
19
20
JAMELL CAPITAL PTY LTD
PEKRICH PTY LTD
60,058,835
31,303,415
26,750,000
25,728,040
25,490,257
25,065,931
24,099,830
22,864,781
22,108,048
19,994,144
14,982,813
11,054,024
10,626,053
10,586,196
9,749,574
8,584,356
8,553,894
8,205,523
8,000,000
7,191,871
%
7.90
4.12
3.52
3.39
3.35
3.30
3.17
3.01
2.91
2.63
1.97
1.45
1.40
1.39
1.28
1.13
1.13
1.08
1.05
0.95
Total
380,997,585
50.14%
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 74
8.
Twenty Largest Optionholders:
The twenty largest holders of the Company’s quoted Options as at 12 February 2024 are as follows:
1CGO Listed Options:
Name
No. of Shares
%
1 MR MARK EDWARD WALLER
2
HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED
3 MR PASQUALE BEVILACQUA + MRS MARIA CARMELA BEVILACQUA
4
5
6
7
8
RECO HOLDINGS PTY LTD
BASKERVILLE INVESTMENTS PTY LTD
RIYA INVESTMENTS PTY LTD
GEORDIE BAY HOLDINGS PTY LTD
MR STEVEN FREDERICK GUELFI + MRS KELLY PETA GUELFI
8 WHIMPLECREEK PTY LTD
10 HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED - A/C 2
11
EMAMEVLO PTY LTD
12 MR ARDIKA KHARISMAGENG
12 MR PAUL MERLO
14
15
16
SILVERINCH PTY LIMITED
SALMON BAY HOLDINGS PTY LTD
MR JASON PAUL FEATHERBY + MRS JANENE EMMA FEATHERBY
16
FEATHERCORP PTY LTD
16 MATORI PTY LTD
16 OAKMOUNT NOMINEES PTY LTD
20 NOBLE HOUSE TRADING PTY LTD
7,686,418
6,750,002
2,454,185
2,405,444
1,837,718
970,010
851,397
792,517
792,517
792,516
696,399
500,000
500,000
476,711
416,667
396,259
396,259
396,259
396,259
380,672
21.04
18.47
6.72
6.58
5.03
2.65
2.33
2.17
2.17
2.17
1.91
1.37
1.37
1.30
1.14
1.08
1.08
1.08
1.08
1.04
Total
29,888,209
81.80%
ONE CLICK GROUP LIMITED ANNUAL REPORT 2023
PAGE 75