CLEARVUE TECHNOLOGIES LIMITED — Interim / Quarterly Report 2021

Feb 24, 2021

CLEARVUE TECHNOLOGIES LIMITED AND ITS CONTROLLED ENTITIES ABN 45 071 397 487

APPENDIX 4D

Consolidated Interim Financial Report for the half-year ended 31 December 2020

1. Name of Entity

ClearVue Technologies Limited (ABN 45 071 397 487)

Reporting Period Half-year ended 31 December 2020 Previous Corresponding Reporting Period Half-year ended 31 December 2019

2. Results for Announcement to Market

2. Results for Announcement to Market
Financial results	Up / Down % Change		2020	2019
Revenue from ordinary activities	Up	51.6	574,450	378,949
Loss after tax from ordinary activities attributable to members	Up	48.0	(1,803,457)	(1,218,441)
Loss attributable to members	Up	48.0	(1,803,457)	(1,218,441)
Final and interim dividends		It is not proposed that either a final or interim dividend be paid.
Record date for determining entitlements to the dividend		Not applicable

3. Net Tangible Asset Backing per Ordinary Share	Cents
Net tangible asset backing per ordinary share – current reporting period	1.75
Net tangible asset backingper ordinaryshare – previous reportingperiod	1.68

4. Control Gained Over Entities

Details of entities over which control has been gained or lost Not applicable

5. Dividends Paid and Payable Details of dividends or distribution payments No dividends or distributions are payable.

6. Dividend Reinvestment Plans

Details of dividend or distribution reinvestment plans

Not applicable

CLEARVUE TECHNOLOGIES LIMITED AND ITS CONTROLLED ENTITIES ABN 45 071 397 487

7. Details of Associates

Details of associates and joint venture entities Not applicable 8. Foreign Entities Foreign entities to disclose which accounting standards are used in Not applicable compiling the report

9. Review Opinion

Details of any audit dispute or qualification

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Victor Rosenberg Executive Chairman

Perth WA 24 February 2021

CLEARVUE TECHNOLOGIES LIMITED AND ITS CONTROLLED ENTITIES ABN 45 071 397 487

CLEARVUE TECHNOLOGIES LIMITED AND ITS CONTROLLED ENTITIES

ABN 45 071 397 487

Consolidated Interim Financial Report

For the half-year ended 31 December 2020

CLEARVUE TECHNOLOGIES LIMITED AND ITS CONTROLLED ENTITIES ABN 45 071 397 487

COMPANY INFORMATION

DIRECTORS

Victor Rosenberg, Executive Chairman Stuart Carmichael, Non-executive Director Roger Steinepreis, Non-executive Director

AUDITORS

Grant Thornton Audit Pty Ltd Level 43, Central Park 152-158 St Georges Terrace Perth WA 6000

COMPANY SECRETARY

SOLICITORS

Deborah Ho

REGISTERED OFFICE

Ground Floor 16 Ord Street West Perth WA 6005

PRINCIPAL BANKERS

National Australia Bank Limited Level 12, 100 St Georges Terrace Perth WA 6000

Steinepreis Paganin 16 Milligan Street Perth WA 6000

SHARE REGISTRY

Automic Group Level 2, 267 St Georges Terrace Perth WA 6000

STOCK EXCHANGE LISTING

Shares are listed on the Australian Securities Exchange (ASX code: CPV)

CLEARVUE TECHNOLOGIES LIMITED AND ITS CONTROLLED ENTITIES ABN 45 071 397 487

CONTENT

Directors’ Report	PAGE 1 – 2
Auditor’s Independence Declaration	3
Consolidated Statement of Profit or Loss and Other Comprehensive Income	4
Consolidated Statement of Financial Position	5
Consolidated Statement of Changes in Equity	6
Consolidated Statement of Cash Flows	7
Notes to the Financial Statements	8 – 16
Directors’ Declaration	17
Independent Auditor’s Report 18 – 19

CLEARVUE TECHNOLOGIES LIMITED AND ITS CONTROLLED ENTITIES ABN 45 071 397 487

DIRECTORS’ REPORT

The Directors are pleased to present their report together with the consolidated financial statements of Clearvue Technologies Limited (“the Company”) and its controlled entities (“the Group”) at the end of, or during, the half-year ended 31 December 2020.

1. DIRECTORS

The name of the Directors in office at any time during or since the end of the half-year are:

Victor Rosenberg

Sean Rosenberg (Resigned: 25 August 2020) Jamie Lyford (Resigned: 25 August 2020) Roger Steinepreis (Appointed: 25 August 2020) Stuart Carmichael

2. PRINCIPAL ACTIVITIES

The principal activities of the Group during the course of the half-year were research and development activities applied to the Company’s world leading solar glass technology.

3. REVIEW OF OPERATIONS AND FINANCIAL RESULTS

The operating result of the Group for the current half-year is a loss of $1,803,457 (2019: $1,218,441).

Operations

During the half-year ended 31 December 2020, the principal activities of the Company focussed on developing a sales and leads pipeline for the Company’s products in its key geographies of Europe and the US, licensing activities to appoint new manufacturers and distributors, as well as research and development activities applied to the Company’s world leading solar glass technology.

Key activities announced as at 31 December 2020 include:

• Construction commenced on Company’s world first solar greenhouse at Murdoch University;

• Appointment of US based Insulsteel Building Sciences LLC as a manufacturer and distributor for the US for sales of the Company’s product in conjunction with sales of Insulsteel’s own EPS and steel insulated wall panels;

• Signed a new distributor for Sao Paulo Brazil and received a first small order from that distributor for a project to commence in 2021;

• Received an order for a first small project in Japan for a greenhouse at Fujisan Winery;

• � Appointment of new interim Chief Executive Officer, Kenan Jagger

• Re-organisation of the Company’s board with the appointment of Roger Steinepreis and resignation of Jamie Lyford and Sean Rosenberg. Jamie Lyford became the Chief Operating Officer of the Company.

Corporate

On 24 August and 14 September 2020, the Company issued 26,973,260 and then a further 315,000 fully paid ordinary shares at an issue price of $0.095 under a Placement to professional and sophisticated investors that raised approximately $2.6m (before capital raising fees and costs) as announced in August 2020. A further 4,710,527 fully paid ordinary shares were issued on 19 November 2020 pursuant to the Placement to Director related entities following receipt of shareholder approval at the Company’s Annual General Meeting held on 2 November 2020 that raised approximately $0.4m before costs.

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CLEARVUE TECHNOLOGIES LIMITED AND ITS CONTROLLED ENTITIES ABN 45 071 397 487

DIRECTORS’ REPORT

4. AUDITOR’S INDEPENDENCE DECLARATION

A copy of the Auditor’s Independence Declaration as required under section 307C of the Corporations Act 2001 has been included on page 3.

Signed in accordance with a resolution of the Board of Directors.

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Victor Rosenberg Executive Chairman

Perth WA 24 February 2021

2

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Level 43, Central Park 152-158 St Georges Terrace Perth WA 6000

Correspondence to: PO Box 7757 Cloisters Square Perth WA 6850

T +61 8 9480 2000 F +61 9 9480 2050 E info.wa@au.gt.com W www.grantthornton.com.au

Auditor’s Independence Declaration

To the Directors of ClearVue Technologies Limited

In accordance with the requirements of section 307C of the Corporations Act 2001 , as lead auditor for the review of ClearVue Technologies Limited for the half-year ended 31 December 2020, I declare that, to the best of my knowledge and belief, there have been:

• a no contraventions of the auditor independence requirements of the Corporations Act 2001 in relation to the review; and

• b no contraventions of any applicable code of professional conduct in relation to the review.

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GRANT THORNTON AUDIT PTY LTD

Chartered Accountants

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L A Stella Partner – Audit & Assurance

Perth, 2�February 2021

Grant Thornton Audit Pty Ltd ACN 130 913 594

www.grantthornton.com.au

a subsidiary or related entity of Grant Thornton Australia Ltd ABN 41 127 556 389

‘Grant Thornton’ refers to the brand under which the Grant Thornton member firms provide assurance, tax and advisory services to their clients and/or refers to one or more member firms, as the context requires. Grant Thornton Australia Ltd is a member firm of Grant Thornton International Ltd (GTIL). GTIL and the member firms are not a worldwide partnership. GTIL and each member firm is a separate legal entity. Services are delivered by the member firms. GTIL does not provide services to clients. GTIL and its member firms are not agents of, and do not obligate one another and are not liable for one another’s acts or omissions. In the Australian context only, the use of the term ‘Grant Thornton’ may refer to Grant Thornton Australia Limited ABN 41 127 556 389 and its Australian subsidiaries and related entities. GTIL is not an Australian related entity to Grant Thornton Australia Limited.

Liability limited by a scheme approved under Professional Standards Legislation.

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CLEARVUE TECHNOLOGIES LIMITED AND ITS CONTROLLED ENTITIES ABN 45 071 397 487

CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE HALF-YEAR ENDED 31 DECEMBER 2020

Other income Expenses Consulting expense Depreciation and amortisation expense Employee benefits expense Finance costs Legal fees Material costs Project costs Share Based Payments Travel expense Other expenses Loss before income tax Income tax expense Loss for the half-year, representing total comprehensive loss for the half-year Loss per share for loss attributable to the owners of the Company (cents) Basic loss per share Diluted loss per share		Note 4	Consolidated 31 Dec 2020 $ 574,450 (309,749) (87,446) (515,120) (19,543) (58,639) (46,348) (631,239) (368,132) (22,445) (319,246) (2,377,907) (1,803,457) - (1,803,457) 1.37 1.37	Consolidated 31 Dec 2019 $ 378,949 (534,644) (91,953) (355,857) (8,917) (30,709) (146,182) (98,498) - (121,103) (209,527)	Consolidated 31 Dec 2019 $ 378,949 (534,644) (91,953) (355,857) (8,917) (30,709) (146,182) (98,498) - (121,103) (209,527)
		5
		14 14			(1,597,390)
					(1,218,441) -
					(1,218,441)
					1.18 1.18

See accompanying notes to the financial statements

4

CLEARVUE TECHNOLOGIES LIMITED AND ITS CONTROLLED ENTITIES ABN 45 071 397 487

CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2020

ASSETS Current Assets Cash and cash equivalents Trade and other receivables Other assets Total Current Assets Non-Current Assets Plant and equipment Right-of-use asset Intangible assets Other assets Total Non-Current Assets Total Assets LIABILITIES Current Liabilities Trade and other payables Lease liabilities Provisions Total Current Liabilities Non-Current Liabilities Lease liabilities Provisions Total Non-Current Liabilities Total Liabilities Net Assets EQUITY Share capital Share-based payments reserve Accumulated losses Total Equity	Note 6 7 8 9 10 11 10 11 12 13	Consolidated 31 Dec 2020 $ 2,387,135 505,164 150,395 3,042,694 101,766 146,431 2,613,643 56,683 2,918,523 5,961,217 484,845 41,773 131,745 658,363 108,773 22,115 130,888 789,251 5,171,966 15,364,813 5,126,667 (15,319,514) 5,171,966	Consolidated 30 Jun 2020 $ 864,208 571,242 118,686	Consolidated 30 Jun 2020 $ 864,208 571,242 118,686
				1,554,136
				111,039 169,800 2,456,581 56,683
				2,794,093
				4,348,229
				831,473 42,493 99,680
				973,646
				130,892 15,540
				146,432
				1,120,078
				3,228,151
				12,521,181 4,223,027 (13,516,057)
				3,228,151

See accompanying notes to the financial statements

5

CLEARVUE TECHNOLOGIES LIMITED AND ITS CONTROLLED ENTITIES ABN 45 071 397 487

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE HALF-YEAR ENDED 31 DECEMBER 2020

Balance at 1 July 2019 Options exercised Share-based payments Loss after income tax expense Other comprehensive income Total comprehensive loss Balance at 31 December 2019 Balance at 1 July 2020 Shares issued Options exercised Share based payments Share issue costs Loss after income tax expense Other comprehensive income Total comprehensive loss Balance at 31 December 2020	Share Capital Share-Based Payments Reserve Accumulated Losses Total
	$ $ $ $ 10,681,302 4,223,027 (11,466,866) 3,437,463 1,839,879 - - 1,839,879 - - (1,218,441) (1,218,441) - - - -
	- - (1,218,441) (1,218,441)
	12,521,181 4,223,027 (12,685,307) 4,058,901
	12,521,181 4,223,027 (13,516,057) 3,228,151 3,039,885 - - 3,039,885 540,868 540,868 201,640 903,640 1,105,247 (938,761) (938,761) - - (1,803,457) (1,803,457) - - - -
	- - (1,803,457) (1,803,457)
	15,364,813 5,126,667 (15,319,514) 5,171,966

See accompanying notes to the financial statements

6

CLEARVUE TECHNOLOGIES LIMITED AND ITS CONTROLLED ENTITIES ABN 45 071 397 487

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE HALF-YEAR ENDED 31 DECEMBER 2020

Cash flows from operating activities Loss before income tax Adjustment for: Depreciation of plant and equipment Amortisation of intangible assets Patents forfeited Operating loss before working capital changes Changes in working capital: (Increase) in trade and other receivables (Increase) in other assets Increase in trade and other payables (Decrease) / increase in provisions Net cash (used in) operating activities Cash flows from investing activities Patents and trademarks expenditure Research and development expenditure Purchase of plant & equipment Net cash (used in) investing activities Cash flows from financing activities Issuance of ordinary shares Share issuance cost Lease payments Loan repayments Net cash from financing activities Net increase / (decrease) in bank balances Bank balances at beginning of half-year Bank balances at end of half-year	Consolidated 31 Dec 2020 $ (1,803,457) 43,184 44,262 (1,716,011) 66,079 (31,710) (55,626) 38,639 (1,698,629) (181,023) (20,301) (10,552) (211,876) 3,948,897 (201,624) (22,840) (291,001) 3,433,432 1,522,927 864,208 2,387,135	Consolidated 31 Dec 2019 $ (1,218,441) 54,143 37,810 6,540	Consolidated 31 Dec 2019 $ (1,218,441) 54,143 37,810 6,540
			(1,119,948) (243,338) (40,576) 247,816 (1,026)
			(1,157,072)
			(267,121) (29,334) (11,750)
			(308,205)
			2,000,000 (160,121) (21,142)
			1,818,737
			353,460 1,376,936
			1,730,396

See accompanying notes to the financial statements

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CLEARVUE TECHNOLOGIES LIMITED AND ITS CONTROLLED ENTITIES ABN 45 071 397 487

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE HALF-YEAR ENDED 31 DECEMBER 2020

These notes form an integral part of and should be read in conjunction with the accompanying financial report:

1. GENERAL INFORMATION

Nature of Operations

The principal activities of the Group include research and development activities related to the Company’s world leading solar glass technology and commercialisation activities for the same.

Basis of Preparation and Statement of Compliance

This general purpose consolidated interim financial statements have been prepared in accordance with the requirements of the Corporations Act 2001 and AASB 134 ‘Interim Financial Reporting’.

They do not include all of the information required in annual financial statements in accordance with Australian Accounting Standards, and should be read in conjunction with the Annual Report of the Group for the year ended 30 June 2020 and any public announcements made by the Group during the half-year in accordance with continuous disclosure requirements arising under the Australian Securities Exchange Listing Rules and Corporations Act 2001.

The consolidated interim financial report has been approved and authorised for issue, in accordance with a resolution of Directors, on the 24 February 2021.

Going Concern

The Group incurred an operating loss after income tax for the half-year ended 31 December 2020 of $1,803,457 and reported net cash outflows from operating activities of $1,698,629 and investing activities of $211,876. As at 31 December 2020, the Group had available cash and cash equivalents of $2,387,135.

On 14 August 2020, the Company announced that it had received firm commitments to raise approximately $3.04m via a Placement to professional and sophisticated investors.

Under the Placement 31,998,787 new fully paid ordinary shares were issued at $0.095 per ordinary share.

On 24 August 2020, 26,973,260 new shares were issued under the Company’s existing placement capacity with 16,357,956 shares having been issued pursuant to ASX Listing Rule 7.1 and 10,615,304 shares issued pursuant to ASX Listing Rule 7.1A.

On 14 September 2020, the Company issued a further 315,000 fully paid ordinary shares at an issue price of $0.095 under the company’ existing placement capacity utilising Listing Rule 7.1

Finally, on 19 November 2020 a further 4,710,527 fully paid ordinary shares were issued under the Placement to Director related entities following receipt of shareholder approval at the Company’s Annual General Meeting held on 2 November 2020.

Each investor that was issued new shares under the Placement was also issued receive one (1) free attaching unlisted option for every two (2) new shares issued to it, with each option having an exercise price of $0.20 and expiring on or before 31 December 2022.

8

CLEARVUE TECHNOLOGIES LIMITED AND ITS CONTROLLED ENTITIES ABN 45 071 397 487 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE HALF-YEAR ENDED 31 DECEMBER 2020

The ability of the Company to continue as a going concern is principally dependent on one or more of the following

• the ability of the company to raise sufficient additional capital in the future

• the ability of the company to reduce operating expenditure

• The ability of the company to defer operating expenditure

As at date of report, the Directors have reviewed the Company’s financial position and are of the opinion that the going concern basis of accounting is appropriate having regard to the matters outlines above. If the Company is unable to continue as a going concern, it may be required to realise its assets and or settle its liabilities other than in the ordinary course of business and at amounts different from those stated in the financial report.

2. ESTIMATES

When preparing the Interim Financial Statements, management undertakes a number of judgements, estimates and assumptions about recognition and measurement of assets, liabilities, income and expenses. The actual results may differ from the judgements, estimates and assumptions made by management, and will seldom equal the estimated results.

The judgements, estimates and assumptions applied in the Interim Financial Statements, including the key sources of estimation uncertainty, were the same as those applied in the Group’s last annual financial statements for the year ended 30 June 2020.

3. SEGMENT INFORMATION

Management has determined the operating segments based on reports reviewed by the Board of Directors for making strategic decisions. The current Board of Directors monitors the business based on operational and geographic factors and have determined that there is only one relevant business segment being Clearvue Technologies Limited. The Group is domiciled in Australia and all revenue and expenditure is generated from Australia, and all assets are located in Australia.

4. OTHER INCOME

THER INCOME
Rebates and refunds Other grants Interest received ATO Jobkeeper ATO Cashflow boost Other Income	Consolidated 31 Dec 2020 $ 403,141 49,706 187 67,500 50,000 3,916 574,450	Consolidated 31 Dec 2019 $ 323,108 51,485 2,021 - - 2,335
			378,949

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CLEARVUE TECHNOLOGIES LIMITED AND ITS CONTROLLED ENTITIES ABN 45 071 397 487

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE HALF-YEAR ENDED 31 DECEMBER 2020

5. OTHER EXPENSES

Advertising and promotion Courier fees Patents forfeited Insurance expense Listing fees Office expenses Rental expenses General expenses 6. TRADE AND OTHER RECEIVABLES Trade receivables Research & development rebate receivable Grants receivable Other receivables 7. PLANT AND EQUIPMENT Office equipment Movements for the half-year Cost: Balance at 1 July 2020 Additions Balance at 31 December 2020 Accumulated depreciation: Balance at 1 July 2020 Depreciation for the period Balance at 31 December 2020 Carrying amount:* Balance at 31 December 2020	Consolidated 31 Dec 2020 $ 82,235 22,206 - 31,104 71,181 36,979 - 75,541 319,246 18,225 405,085 81,700 154 505,164 Consolidated 31 Dec 2020 $ 101,766 $ 208,109 10,551 218,660 97,078 19,816 116,894 101,766	Consolidated 31 Dec 2019 $ 67,602 41,224 6,540 19,090 31,717 26,134 162 17,058	Consolidated 31 Dec 2019 $ 67,602 41,224 6,540 19,090 31,717 26,134 162 17,058
			209,527
			- 489,542 81,700
			571,242
		Consolidated 30 Jun 2020 $ 111,030

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CLEARVUE TECHNOLOGIES LIMITED AND ITS CONTROLLED ENTITIES ABN 45 071 397 487

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE HALF-YEAR ENDED 31 DECEMBER 2020

8. RIGHT-OF-USE ASSET

IGHT-OF-USE ASSET
Leased assets Movements for the half-year Cost: Balance at 1 July 2020 Additions Balance at 31 December 2020 Accumulated depreciation: Balance at 1 July 2020 Depreciation for the period Balance at 31 December 2020 Carrying amount: Balance at 31 December 2020	Consolidated 31 Dec 2020 Consolidated 30 Jun 2020 $ $ 146,431 169,800 $ 216,157 - 216,157 46,357 23,369 69,726 146,431

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CLEARVUE TECHNOLOGIES LIMITED AND ITS CONTROLLED ENTITIES ABN 45 071 397 487

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE HALF-YEAR ENDED 31 DECEMBER 2020

9. INTANGIBLE ASSETS

Patents and trademarks Development asset Movements in patents and trademarks for the half-year Cost: Balance at 1 July 2020 Additions Disposals Balance at 31 December 2020 Accumulated amortisation: Balance at 1 July 2020 Amortisation for the period Disposals Balance at 31 December 2020 Carrying amount: Balance at 31 December 2020 Movements in development asset for the half-year Cost: Balance at 1 July 2020 Additions Balance at 31 December 2020 Accumulated amortisation: Balance at 1 July 2020 Amortisation for the period Balance at 31 December 2020 Carrying amount: Balance at 31 December 2020	Consolidated 31 Dec 2020 $ 1,491,126 1,122,517 2,613,643 $ 1,681,929 181,023 1,862,952 327,565 44,261 371,826 1,491,126 1,102,217 20,300 1,122,517 - - - 1,122,517	Consolidated 30 Jun 2020 $ 1,354,364 1,102,217	Consolidated 30 Jun 2020 $ 1,354,364 1,102,217
			2,456,581

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CLEARVUE TECHNOLOGIES LIMITED AND ITS CONTROLLED ENTITIES ABN 45 071 397 487

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE HALF-YEAR ENDED 31 DECEMBER 2020

10 . LEASE LIABILITIES

EASE LIABILITIES
	Consolidated	Consolidated
	31 Dec 2020	30 Jun 2020
	$	$
Current	41,773	42,493
Non-Current	108,773	130,892

The Group has leases for the office and photocopier. The lease liabilities are secured by the related underlying assets. Future minimum lease payments at 31 December 2020 were as follows:

Lease payments Finance charges Net present value	Within 1 Year $ 48,440 (6,667) 41,773		Minimum Lease Payments 1-5 Years After 5 Years $ $ 116,177 - (7,404) - 108,773 -	Total $ 164,617 (14,071) 150,546
			1-5 Years $ 116,177 (7,404) 108,773

Lease payments not recognised as a liability

Certain variable lease payments are not permitted to be recognised as lease liabilities and are expensed as incurred. The expense relating to payments not included in the measurement of a lease liability is as follows:

Depreciation expense (Note 9) Interest expense 11. PROVISIONS Current Annual leave provision Long service leave provision Non-Current Long service leave provision	Consolidated 31 Dec 2020 $ 23,369 4,119 Consolidated 31 Dec 2020 $ 82,485 49,260 131,745 22,115 22,115	Consolidated 30 Jun 2020 $ - - Consolidated 30 Jun 2020 $ 52,390 47,290	Consolidated 30 Jun 2020 $ - - Consolidated 30 Jun 2020 $ 52,390 47,290
			99,680
			15,540
			15,540

13

CLEARVUE TECHNOLOGIES LIMITED AND ITS CONTROLLED ENTITIES ABN 45 071 397 487

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE HALF-YEAR ENDED 31 DECEMBER 2020

12. SHARE CAPITAL

31 Dec 2020 NO. OF SHARES Ordinary shares – fully paid 146,254,512 Movements in share capital for the half-year Balance at 1 July 2020 Issue of shares under a placement Issue of shares Issue of shares on exercise of options Share issue costs Balance at 31 December 2020		30 Jun 2020 31 Dec 2020 NO. OF SHARES $ 111,153,044 15,634,813 NO. OF SHARES 111,153,044 31,998,787 616,481 2,486,200 - 146,254,512		31 Dec 2020		30 Jun 2020 $ 12,521,181
				$ 15,634,813
						$ 12,521,181 3,039,885 201,640 540,868 (938,761)
						15,364,813

On 24 August 2020, 14 September 2020 and 18 November 2020, a total of 31,998,787 fully paid ordinary shares were issued at $0.095 per share pursuant to the Company’s Placement, as announced in August 2020.

On 7 December 2020 and 23 December 2020, 456,491 fully paid ordinary shares were issued at a deemed price of $0.3541 per share and 160,000 fully paid ordinary shares were issued at a deemed price of $0.25 per share, respectively.

During the half-year, a total of 1,613,642 fully paid ordinary shares on exercise of unlisted options, each option exercisable at $0.20 and 872,558 fully paid ordinary shares on exercise of unlisted options, each option exercisable at $0.25.

Share issue costs are comprised of a cash settlement of $201,647 and options issued to lead managers valued at $737,115.

The share capital of the Company consists only of fully paid ordinary shares; the shares do not have a par value. All shares are equally eligible to receive dividends and the repayment of capital and represent one vote at the shareholders’ meeting of the Company

13. SHARE-BASED PAYMENTS RESERVE

HARE-BASED PAYMENTS RESERVE
Share plan for Directors * Options issued to Lead Manager Offer Options issued to Consultants Performance shares to Directors Options issued to Lead Manager of placement Options issued to consultants		31 Dec 2020 $ 536,900 225,635 1,380,492 2,080,000 737,148 166,492 5,126,667		30 Jun 2020 $ 536,900 225,635 1,380,492 2,080,000 - -
				4,223,027

• The share plan arises on the grant of loan for a term of 10 years to Directors and related parties for the purchase of the Company’s ordinary shares under the ClearVue Loan Funded Share Plan in 2017. Amounts are transferred out of the reserve and into share capital when the loans are settled.

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CLEARVUE TECHNOLOGIES LIMITED AND ITS CONTROLLED ENTITIES ABN 45 071 397 487

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE HALF-YEAR ENDED 31 DECEMBER 2020

13. SHARE-BASED PAYMENTS RESERVE (continued)

Movement in Share-Based Payments Reserve Balance at 1 July 2020 Free-attaching options issued under placement1 Options issued to Lead Manager of placement2 Options issued to consultants3 Options exercised4 Balance at 31 December 2020	NO. OF OPTIONS 63,148,024 15,999,389 3,300,000 900,000 (2,486,200) 80,861,213	$ 2,143,027 - 737,148 166,492 (540,868)
		2,505,799

1 On 18 November 2020, 15,999,389 unlisted options exercisable at $0.20 per option, expiring 31 December 2022 were issued pursuant to the Company’s Placement, as announced in August 2020.

2 On 18 November 2020, 3,300,000 unlisted options exercisable at $0. 1425 per option, expiring 11 July 2024 were issued pursuant to the Company’s Placement, as announced in August 2020.

3 On 23 December 2020, 100,000 unlisted options exercisable at $0.25 per option, expiring 21 June 2021 and 800,000 unlisted options exercisable at $0.25 per option, expiring 22 December 2023 were issued pursuant to various agreements, as approved by shareholders on 27 November 2020.

4 During the half-year, a total of 1,613,642 fully paid ordinary shares on exercise of unlisted options, each option exercisable at $0.20 and 872,558 fully paid ordinary shares on exercise of unlisted options, each option exercisable at $0.25.

14.

LOSS PER SHARE

Loss after income tax attributable to owners of Company Weighted average number of shares Basic loss per share Diluted loss per share	31 Dec 2020 $ (1,803,457) # 131,793,500 Cents (1.37) (1.37)	31 Dec 2019 $ (1,218,441) # 103,201,527 Cents (1.18) (1.18)

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CLEARVUE TECHNOLOGIES LIMITED AND ITS CONTROLLED ENTITIES ABN 45 071 397 487 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE HALF-YEAR ENDED 31 DECEMBER 2020

15. DIVIDENDS

No dividend has been declared or paid out in the half-year ended 31 December 2020 (2019: nil). The directors do not recommend the declaration of a dividend.

16. FINANCIAL ASSETS

All financial assets are classified and recognised under amortised cost. There is none classified as fair value through profit or loss, nor fair value through other comprehensive income.

Financial Asset – Amortised Cost Cash and cash equivalents Trade and other receivables	Consolidated 31 Dec 2020 $ 2,387,135 505,163 2,892,298	Consolidated 30 Jun 2020 $ 864,208 571,242	Consolidated 30 Jun 2020 $ 864,208 571,242
			1,435,450

17. CONTINGENT ASSETS & LIABILITIES

There were no contingent assets or liabilities as at 31 December 2020 (2019: nil).

18. EVENTS ARISING SINCE THE END OF THE REPORTING PERIOD

No matter or circumstances, not otherwise dealt with in this report have arisen since the end of the financial year to the date of this report which has significantly affected, or may significantly affect, the operations of the Group, the results of those operations or state of affairs of the Group in subsequent financial years.

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CLEARVUE TECHNOLOGIES LIMITED AND ITS CONTROLLED ENTITIES ABN 45 071 397 487

DIRECTORS’ DECLARATION

In the opinion of the directors of ClearVue Technologies Limited:

• (a) the consolidated financial statements and notes set out on pages 8 to 19 are in accordance with the Corporations Act 2001, including:

• (i) complying with Accounting Standard AASB 134 Interim Financial Reporting; and

• (ii) giving a true and fair view of its financial position as at 31 December 2020 and of its performance for the period 1 July 2020 to 31 December 2020; and

• (b) at the date of this declaration, there are reasonable grounds to believe that the Company will be able to pay its debts as and when they become due and payable.

The declaration is made in accordance with a resolution of the Board of Directors required by section 303(5)(a) of the Corporations Act 2001.

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Victor Rosenberg Executive Chairman

Perth WA 24 February 2021

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Level 43, Central Park 152-158 St Georges Terrace Perth WA 6000

Correspondence to: PO Box 7757 Cloisters Square Perth WA 6850

T +61 8 9480 2000 F +61 8 9480 2050 E info.wa@au.gt.com W www.grantthornton.com.au

Independent Auditor’s Review Report

To the Members of ClearVue Technologies Limited

Report on the review of the half year-financial report

Conclusion

We have reviewed the accompanying half-year financial report of ClearVue Technologies Limited (the Company) and its subsidiaries (the Group), which comprises the consolidated statement of financial position as at 31 December 2020, and the consolidated statement of profit or loss and other comprehensive income, consolidated statement of changes in equity and consolidated statement of cash flows for the half year ended on that date, a description of accounting policies, other selected explanatory notes, and the directors’ declaration.

Based on our review, which is not an audit, we have not become aware of any matter that makes us believe that the accompanying half-year financial report of ClearVue Technologies Limited does not comply with the Corporations Act 2001 including:

(a) giving a true and fair view of the financial position as at 31 December 2020 and of its performance for the half-year ended on that date; and

(b) complying with Accounting Standard AASB 134 Interim Financial Reporting and the Corporations Regulations 2001.

Basis for Conclusion

We conducted our review in accordance with ASRE 2410 Review of a Financial Report Performed by the Independent Auditor of the Entity . Our responsibilities are further described in the Auditor’s Responsibilities for the Review of the Financial Report section of our report. We are independent of the Company 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 (including Independence Standards) (the Code) that are relevant to our audit of the annual financial report in Australia. We have also fulfilled our other ethical responsibilities in accordance with the Code.

Material uncertainty related to going concern

We draw attention to Note 1 in the financial report, which indicates that the Group incurred a net loss of $1,803,457 during the half year ended 31 December 2020 and, as of that date, the Group reported operating cash out flows of $1,698,629. As stated in Note 1, these events or conditions, along with other matters as set forth in Note 1, indicate that a material uncertainty exists that may cast significant doubt on the Group's ability to continue as a going concern. Our conclusion is not modified in respect of this matter.

Grant Thornton Audit Pty Ltd ACN 130 913 594 a subsidiary or related entity of Grant Thornton Australia Ltd ABN 41 127 556 389

www.grantthornton.com.au

‘Grant Thornton’ refers to the brand under which the Grant Thornton member firms provide assurance, tax and advisory services to their clients and/or refers to one or more member firms, as the context requires. Grant Thornton Australia Ltd is a member firm of Grant Thornton International Ltd (GTIL). GTIL and the member firms are not a worldwide partnership. GTIL and each member firm is a separate legal entity. Services are delivered by the member firms. GTIL does not provide services to clients. GTIL and its member firms are not agents of, and do not obligate one another and are not liable for one another’s acts or omissions. In the Australian context only, the use of the term ‘Grant Thornton’ may refer to Grant Thornton Australia Limited ABN 41 127 556 389 and its Australian subsidiaries and related entities. GTIL is not an Australian related entity to Grant Thornton Australia Limited.

Liability limited by a scheme approved under Professional Standards Legislation.

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Directors’ responsibility for the half year financial report

The Directors of the Company are responsible for the preparation of the half year 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 half year financial report that gives a true and fair view and is free from material misstatement, whether due to fraud or error.

Auditor’s responsibility

Our responsibility is to express a conclusion on the half year financial report based on our review. We conducted our review in accordance with Auditing Standard on Review Engagements ASRE 2410 Review of a Financial Report Performed by the Independent Auditor of the Entity , in order to state whether, on the basis of the procedures described, we have become aware of any matter that makes us believe that the half year financial report is not in accordance with the Corporations Act 2001 including giving a true and fair view of the Group’s financial position as at 31 December 2020 and its performance for the half year ended on that date, and complying with Accounting Standard AASB 134 Interim Financial Reporting and the Corporations Regulations 2001 .

A review of a half year financial report consists of making enquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Australian Auditing Standards and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

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GRANT THORNTON AUDIT PTY LTD Chartered Accountants

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L A Stella Partner – Audit & Assurance

Perth� 2�February 2021

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