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JAYRIDE GROUP LIMITED — Annual Report 2024
Aug 29, 2024
65156_rns_2024-08-29_f34287e4-aea6-4028-9de4-c1f8b855809c.pdf
Annual Report
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FY24 Results a nd Appendix 4E
Preliminary Final Report for the financial year ended 30 June 2024
Lodged with the ASX under Listing Rule 4.3A. Jayride Group Limited (ASX:JAY) ABN 49 155 285 528
Jayride Group Limited Appendix 4E Preliminary final report
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1. Company details
Name of entity: Jayride Group Limited ABN: 49 155 285 528 Reporting period: For the year ended 30 June 2024 Previous period: For the year ended 30 June 2023
2. Results for announcement to the market
| 2. Results for announcement to the market | |||
|---|---|---|---|
| % | $ | ||
| Total revenue and other income |
up | 4.9% to | 5,446,002 |
| Revenue from net commissions and fees booked |
up | 6.1% to | 5,394,180 |
| Loss from ordinary activities after tax attributable to the owners of Jayride | |||
| Group Limited |
up | 1.2% to | (8,257,194) |
| Loss for the year attributable to the owners of Jayride Group Limited |
up | 1.2% to | (8,257,194) |
Comments
The Company's total revenue and other income during the year was $5,446,002 (2023: $5,191,245), representing an increase of 4.9% compared to the corresponding period.
The loss for the Company after providing for income tax amounted to $8,257,194 (2023: $8,160,212), representing an increase of 1.2% compared to the corresponding period.
3. Net tangible assets
| 3. Net tangible assets | ||
|---|---|---|
| Reporting | Previous | |
| period | period | |
| Cents | Cents | |
| Net tangible assetsper ordinarysecurity | (1.79) | (0.17) |
4. Control gained over entities
Not applicable.
5. Loss of control over entities
Not applicable.
6. Dividends
Current period
There were no dividends paid, recommended or declared during the current financial period.
Previous period
There were no dividends paid, recommended or declared during the previous financial period.
Jayride Group Limited Appendix 4E Preliminary final report
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7. Dividend reinvestment plans
Not applicable.
8. Details of associates and joint venture entities
Not applicable.
9. Foreign entities
Details of origin of accounting standards used in compiling the report:
Not applicable.
10. Audit qualification or review
Details of audit/review dispute or qualification (if any):
The financial statements are in the process of being audited. The directors anticipate that the auditor's report will contain an unqualified audit opinion with a paragraph addressing material uncertainty related to going concern.
11. Attachments
Details of attachments (if any):
The Preliminary Financial Report of Jayride Group Limited for the year ended 30 June 2024 is attached.
12. Signed
As authorised by the Board of Directors
Signed _________
Date: 30 August 2024
Rod Cuthbert Executive Chairman Sydney
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Jayride Group Limited
ABN 49 155 285 528
Preliminary Financial Report - 30 June 2024
Jayride Group Limited Contents 30 June 2024
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| Jayride Group Limited Contents 30 June 2024 |
|
|---|---|
| Statement of profit or loss and other comprehensive income | 2 |
| Statement of financial position | 3 |
| Statement of changes in equity | 4 |
| Statement of cash flows | 5 |
| Notes to the financial statements | 6 |
1
Jayride Group Limited Statement of profit or loss and other comprehensive income For the year ended 30 June 2024
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| Jayride Group Limited Statement of profit or loss and other comprehensive income For the year ended 30 June 2024 |
|||
|---|---|---|---|
| Revenue Net commission and fees booked Other income |
Note | 2024 $ 5,394,180 51,822 |
2023 $ 5,085,421 105,824 |
| Total revenue and income | 5,446,002 | 5,191,245 | |
| Expenses Operating costs Corporate and regulatory costs Business improvement costs Share-based payments expense Impairment of capitalised technology costs Depreciation and amortisation Currency movements Finance costs |
1 2 6 2 2 2 |
(5,166,286) (683,305) (3,996,143) 16,495 (2,898,346) (731,092) (128,090) (116,429) |
(4,737,768) (732,633) (3,913,853) (656,504) (1,794,000) (1,390,640) (20,521) (105,538) |
| Total expenses | (13,703,196) | (13,351,457) | |
| Loss before income tax expense Income tax expense |
(8,257,194) - |
(8,160,212) - |
|
| Loss after income tax expense for the year attributable to the owners of Jayride Group Limited Other comprehensive income for theyear,net of tax |
(8,257,194) - |
(8,160,212) - |
|
| Total comprehensive loss for the year attributable to the owners of Jayride Group Limited |
(8,257,194) | (8,160,212) | |
| Basic loss per share Diluted loss per share |
3 3 |
Cents (3.67) (3.67) |
Cents (4.26) (4.26) |
The above statement of profit or loss and other comprehensive income should be read in conjunction with the accompanying
notes
2
Jayride Group Limited Statement of financial position As at 30 June 2024
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| Jayride Group Limited Statement of financial position As at 30 June 2024 |
|||
|---|---|---|---|
| Note | 2024 | 2023 | |
| $ | $ | ||
| Assets | |||
| Current assets | |||
| Cash and cash equivalents | 924,022 | 2,517,966 | |
| Trade and other receivables | 4 | 1,340,205 | 1,338,927 |
| Contract assets | 974,181 | 1,078,432 | |
| Deposits | - | 18,328 | |
| Prepayments | 156,060 | 191,563 | |
| Total current assets | 3,394,468 | 5,145,216 | |
| Non-current assets | |||
| Plant and equipment | 5 | 26,781 | 50,495 |
| Capitalised technologycosts | 6 | - | 2,467,847 |
| Total non-current assets | 26,781 | 2,518,342 | |
| Total assets | 3,421,249 | 7,663,558 | |
| Liabilities | |||
| Current liabilities | |||
| Trade and other payables | 7 | 4,082,178 | 3,078,832 |
| Contract liabilities | 147,160 | 153,251 | |
| Employee benefits | 299,098 | 356,417 | |
| Future transportpayments | 1,802,112 | 1,847,014 | |
| Total current liabilities | 6,330,548 | 5,435,514 | |
| Non-current liabilities | |||
| Borrowings | 8 | 1,225,912 | - |
| Derivative financial instruments | 8 | 44,755 | - |
| Employee benefits | 61,456 | 99,920 | |
| Total non-current liabilities | 1,332,123 | 99,920 | |
| Total liabilities | 7,662,671 | 5,535,434 | |
| Net(liabilities)/assets | (4,241,422) | 2,128,124 | |
| Equity | |||
| Issued capital | 9 | 43,874,159 | 42,054,859 |
| Reserves | 10 | 1,723,615 | 1,859,999 |
| Accumulated losses | (49,839,196) | (41,786,734) | |
| Total(deficiency)/equity | (4,241,422) | 2,128,124 |
The above statement of financial position should be read in conjunction with the accompanying notes
3
Jayride Group Limited Statement of changes in equity For the year ended 30 June 2024
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| Accumulated | ||||
|---|---|---|---|---|
| Issued capital | Reserves | losses | Total equity | |
| $ | $ | $ | $ | |
| Balance at 1 July 2022 | 37,875,428 | 2,135,662 | (34,214,036) | 5,797,054 |
| Loss after income tax expense for the year | - | - | (8,160,212) | (8,160,212) |
| Other comprehensive income for theyear,net of tax | - | - | - | - |
| Total comprehensive loss for the year | - | - | (8,160,212) | (8,160,212) |
| Transactions with owners in their capacity as owners: | ||||
| Contributions of equity, net of transaction costs (note 9) | 4,070,778 | - | - | 4,070,778 |
| Share-based payments (shares) | 344,653 | 17,851 | - | 362,504 |
| Share-based payments (options) | - | 294,000 | - | 294,000 |
| Expiry of options (note 10) | - | (587,514) | 587,514 | - |
| Sharepurchase for ESS Trust(note 9) | (236,000) | - | - | (236,000) |
| Balance at 30 June 2023 | 42,054,859 | 1,859,999 | (41,786,734) | 2,128,124 |
| Accumulated | Total | |||
| Issued capital | Reserves | losses | deficiency | |
| $ | $ | $ | $ | |
| Balance at 1 July 2023 | 42,054,859 | 1,859,999 | (41,786,734) | 2,128,124 |
| Loss after income tax expense for the year | - | - | (8,257,194) | (8,257,194) |
| Other comprehensive income for theyear,net of tax | - | - | - | - |
| Total comprehensive loss for the year | - | - | (8,257,194) | (8,257,194) |
| Transactions with owners in their capacity as owners: | ||||
| Contributions of equity, net of transaction costs (note 9) | 1,790,206 | - | - | 1,790,206 |
| Share-based payments (shares) | 29,094 | (45,882) | - | (16,788) |
| Share-based payments (options) | - | 293 | - | 293 |
| Expiry of options (note 10) | - | (204,732) | 204,732 | - |
| Other reserves - convertible notes | - | 113,937 | - | 113,937 |
| Balance at 30 June 2024 | 43,874,159 | 1,723,615 | (49,839,196) | (4,241,422) |
The above statement of changes in equity should be read in conjunction with the accompanying notes
4
Jayride Group Limited Statement of cash flows For the year ended 30 June 2024
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| Jayride Group Limited Statement of cash flows For the year ended 30 June 2024 |
|||
|---|---|---|---|
| Note | 2024 | 2023 | |
| $ | $ | ||
| Cash flows from operating activities | |||
| Net receipts from bookings (inclusive of GST) | 5,491,062 | 6,281,844 | |
| Payments to suppliers and employees (inclusive of GST) | (8,945,245) | (9,145,676) | |
| Grants funding for operating activities | 51,822 | 109,164 | |
| Interest and other income received | - | 77,728 | |
| Interest and other finance costspaid | (6,366) | (2,828) | |
| Net cash used in operatingactivities | (3,408,727) | (2,679,768) | |
| Cash flows from investing activities | |||
| Payments for plant and equipment | (2,081) | (23,925) | |
| Payments for capitalised technology costs | 6 | (1,141,146) | (2,422,595) |
| Grants funding for investing activities | - | 115,760 | |
| Proceeds from disposal ofproperty, plant and equipment | 5,350 | - | |
| Net cash used in investingactivities | (1,137,877) | (2,330,760) | |
| Cash flows from financing activities | |||
| Proceeds from issue of shares | 9 | 2,000,136 | 4,390,000 |
| Share issue transaction costs | 9 | (209,930) | (319,222) |
| Proceeds from borrowings | 2,865,286 | 178,000 | |
| Repayment of borrowings | (1,365,286) | (178,000) | |
| Transaction costs related to loans and borrowings | (225,459) | (96,110) | |
| Sharepurchase for ESS Trust | - | (242,390) | |
| Net cash from financingactivities | 3,064,747 | 3,732,278 | |
| Net decrease in cash and cash equivalents | (1,481,857) | (1,278,250) | |
| Cash and cash equivalents at the beginning of the financial year | 2,517,966 | 3,688,689 | |
| Effects of exchange rate changes on cash and cash equivalents | (112,087) | 107,527 | |
| Cash and cash equivalents at the end of the financialyear | 924,022 | 2,517,966 |
The above statement of cash flows should be read in conjunction with the accompanying notes
5
Jayride Group Limited Notes to the financial statements 30 June 2024
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| Note | 1. Operating costs | 7 |
|---|---|---|
| Note | 2. Expenses | 7 |
| Note | 3. Loss per share | 7 |
| Note | 4. Trade and other receivables | 8 |
| Note | 5. Plant and equipment | 9 |
| Note | 6. Capitalised technology costs | 10 |
| Note | 7. Trade and other payables | 10 |
| Note | 8. Borrowings | 11 |
| Note | 9. Issued capital | 12 |
| Note | 10. Reserves | 14 |
6
Jayride Group Limited Notes to the financial statements 30 June 2024
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Note 1. Operating costs
| Note 1. Operating costs | ||
|---|---|---|
| 2024 | 2023 | |
| $ | $ | |
| Advertising and marketing costs | 1,908,998 | 1,724,502 |
| Direct operating costs | 1,209,410 | 981,148 |
| Other supportingoperatingcosts | 2,047,878 | 2,032,118 |
| 5,166,286 | 4,737,768 |
Note 2. Expenses
| Note 2. Expenses | ||
|---|---|---|
| 2024 | 2023 | |
| $ | $ | |
| Loss before income tax includes the following specific expenses: | ||
| Depreciation | ||
| Fixtures and fittings | 78 | 127 |
| Computer equipment | 20,367 | 31,342 |
| Total depreciation(note 5) | 20,445 | 31,469 |
| Amortisation | ||
| Capitalised technologycosts(note 6) | 710,647 | 1,359,171 |
| Total depreciation and amortisation | 731,092 | 1,390,640 |
| Finance costs | ||
| Interest and finance charges paid/payable on borrowings | 6,366 | 105,538 |
| Transaction costs related to borrowing | 110,063 | - |
| Total finance costs | 116,429 | 105,538 |
| Currency movements | ||
| Net foreign exchange loss | 128,090 | 20,521 |
| Superannuation expense | ||
| Defined contribution superannuation expense | 357,134 | 380,389 |
| Share-based payments expense | ||
| Share-basedpayments expense | (16,495) | 656,504 |
| Accounting policy for finance costs | ||
| Finance costs attributable to qualifying assets are capitalised as part of the asset. | All other finance costs are expensed in the | |
| period in which they are incurred. |
Note 3. Loss per share
| Note 3. Loss per share | ||
|---|---|---|
| 2024 | 2023 | |
| $ | $ | |
| Loss after income tax attributable to the owners of Jayride GroupLimited | (8,257,194) | (8,160,212) |
7
Jayride Group Limited Notes to the financial statements 30 June 2024
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Note 3. Loss per share (continued)
| Note 3. Loss per share (continued) | ||
|---|---|---|
| Number | Number | |
| Weighted average number of ordinaryshares used in calculatingbasic lossper share | 224,883,558 | 191,628,494 |
| Weighted average number of ordinaryshares used in calculatingdiluted lossper share | 224,883,558 | 191,628,494 |
| Cents | Cents | |
| Basic loss per share | (3.67) | (4.26) |
| Diluted loss per share | (3.67) | (4.26) |
| 7,906,303 (30 June 2023: 8,829,472) share options and 1,975,000 (30 June 2023: 1,975,000) | performance options have been | |
| excluded from the above calculations as their inclusion would be anti-dilutive. |
Note 4. Trade and other receivables
| Note 4. Trade and other receivables | ||
|---|---|---|
| 2024 | 2023 | |
| $ | $ | |
| Current assets | ||
| Trade receivables | 1,247,028 | 1,154,519 |
| Less: Allowance for expected credit losses | (199,011) | (17,973) |
| 1,048,017 | 1,136,546 | |
| Other receivables | 212,497 | - |
| Goods and services tax receivable | 79,691 | 202,381 |
| 1,340,205 | 1,338,927 |
Allowance for expected credit losses
The Company has recognised a loss of $184,104 in profit or loss in respect of the expected credit losses for the year ended 30 June 2024 (2023: reversal of loss of $6,522).
The ageing of the receivables and allowance for expected credit losses provided for above are as follows:
| Allowance for expected | Allowance for expected | |||||
|---|---|---|---|---|---|---|
| Expected credit | loss rate | Gross | amount | credit losses | ||
| 2024 | 2023 | 2024 | 2023 | 2024 | 2023 | |
| % | % | $ | $ | $ | $ | |
| Current | - | - | 664,581 | 937,065 | - | - |
| Less than 3 months overdue | 2.39% | 0.52% | 257,527 | 150,128 | 6,162 | 776 |
| 3 to 6 months overdue | 50.01% | 21.96% | 115,195 | 50,219 | 57,608 | 11,026 |
| Over 6 months overdue | 64.49% | 36.07% | 209,725 | 17,107 | 135,241 | 6,171 |
| 1,247,028 | 1,154,519 | 199,011 | 17,973 |
8
Jayride Group Limited Notes to the financial statements 30 June 2024
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Note 4. Trade and other receivables (continued)
Movements in the allowance for expected credit losses are as follows:
| 2024 | 2023 | |
|---|---|---|
| $ | $ | |
| Opening balance | 17,973 | 332,591 |
| Additional provisions recognised | 184,104 | - |
| Receivables written off during the year as uncollectable | (3,066) | (308,096) |
| Unused amounts reversed | - | (6,522) |
| Closingbalance | 199,011 | 17,973 |
Note 5. Plant and equipment
| Note 5. Plant and equipment | ||
|---|---|---|
| 2024 | 2023 | |
| $ | $ | |
| Non-current assets | ||
| Fixtures and fittings - at cost | 3,097 | 3,097 |
| Less: Accumulated depreciation | (2,964) | (2,886) |
| 133 | 211 | |
| Computer equipment - at cost | 190,106 | 224,202 |
| Less: Accumulated depreciation | (163,579) | (173,918) |
| 26,527 | 50,284 | |
| Office equipment - at cost | 488 | 367 |
| Less: Accumulated depreciation | (367) | (367) |
| 121 | - | |
| 26,781 | 50,495 |
Reconciliations
Reconciliations of the written down values at the beginning and end of the current and previous financial year are set out below:
| Fixtures and | Computer | Office | ||
|---|---|---|---|---|
| fittings | equipment | equipment | Total | |
| $ | $ | $ | $ | |
| Balance at 1 July 2022 | 338 | 57,702 | - | 58,040 |
| Additions | - | 26,500 | - | 26,500 |
| Disposals | - | (2,576) | - | (2,576) |
| Depreciation expense | (127) | (31,342) | - | (31,469) |
| Balance at 30 June 2023 | 211 | 50,284 | - | 50,495 |
| Additions | - | 1,960 | 121 | 2,081 |
| Disposals | - | (5,350) | - | (5,350) |
| Depreciation expense | (78) | (20,367) | - | (20,445) |
| Balance at 30 June 2024 | 133 | 26,527 | 121 | 26,781 |
9
Jayride Group Limited Notes to the financial statements 30 June 2024
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Note 6. Capitalised technology costs
| Note 6. Capitalised technology costs | ||
|---|---|---|
| 2024 | 2023 | |
| $ | $ | |
| Non-current assets | ||
| Capitalised technology costs | 9,811,209 | 8,670,063 |
| Less: Accumulated amortisation | (5,583,296) | (4,904,584) |
| Less: Impairment | (4,227,913) | (1,585,057) |
| - | 2,180,422 | |
| Website - at cost | 531,823 | 531,823 |
| Less: Accumulated amortisation | (67,391) | (35,455) |
| Less: Impairment | (464,432) | (208,943) |
| - | 287,425 | |
| - | 2,467,847 |
Reconciliations
Reconciliations of the written down values at the beginning and end of the current and previous financial year are set out below:
| Capitalised | |||
|---|---|---|---|
| technology | |||
| costs | Website | Total | |
| $ | $ | $ | |
| Balance at 1 July 2022 - restated | 3,202,495 | - | 3,202,495 |
| Additions | 1,890,772 | 531,823 | 2,422,595 |
| Research and development tax offset | (4,072) | - | (4,072) |
| Impairment of assets | (1,585,057) | (208,943) | (1,794,000) |
| Amortisation expense | (1,323,716) | (35,455) | (1,359,171) |
| Balance at 30 June 2023 | 2,180,422 | 287,425 | 2,467,847 |
| Additions | 1,141,146 | - | 1,141,146 |
| Impairment of assets | (2,642,857) | (255,489) | (2,898,346) |
| Amortisation expense | (678,711) | (31,936) | (710,647) |
| Balance at 30 June 2024 | - | - | - |
Impairment testing completed in February 2024 referencing historical growth rates and the new cost base resulted in a 100% write-down of the company's website and technology assets. The total impairment recognised in the profit or loss totalled $2,898,346.
Note 7. Trade and other payables
| Note 7. Trade and other payables | ||
|---|---|---|
| 2024 | 2023 | |
| $ | $ | |
| Current liabilities | ||
| Trade payables | 3,363,005 | 1,981,515 |
| Otherpayables | 719,173 | 1,097,317 |
| 4,082,178 | 3,078,832 |
10
Jayride Group Limited Notes to the financial statements 30 June 2024
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Note 8. Borrowings
| Note 8. Borrowings | |||
|---|---|---|---|
| 2024 | 2023 | ||
| $ | $ | ||
| Non-current liabilities | |||
| Convertible notes* | 1,225,912 | - |
- The conversion feature is recognised as an embedded derivative with a fair value of $44,755.
Convertible notes
The Company has issued $,1,500,000 of convertible notes, with a face value of $2,000,000.
A summary of the terms of the convertible notes are detailed out below:
| Tranche 1 | Tranche 2 | Total | |
|---|---|---|---|
| Amount raised | $525,000 | $975,000 | $1,500,000 |
| Issue date | 19 February 2024 | 8 April 2024 | |
| Note face value on issue (in | $700,000 | $1,300,000 | $2,000,000 (including a |
| aggregate) | $500,000 component of | ||
| capitalised year one interest | |||
| at 33.33% per annum | |||
| Transaction costs | $31,500 | $90,245 | $121,745 |
| Conversion price | Convertible at a 20% discount to the five | day VWAP prior to conversion subject to a conversion | |
| price ceiling of $0.05 and a floor of $0.02. In the event the | ten day VWAP of Jayride is below | ||
| $0.02, noteholders may, after that point, convert the note | at a 20% discount to the five day | ||
| VWAP irrespective of the floor price. |
Conversion Noteholder may convert at any time at their election. Any notes not converted at maturity will be redeemed. Maturity 24 months from note issue. Redemption The Company may redeem the notes (repay the notes in cash) at any time with no penalty. Interest In the first year, interest is prepaid by way of a capitalisation into the note face value ($500,000, being 33.33% per annum). There is otherwise no interest payable in the first year. If the notes remain outstanding after 12 months, interest will become payable at 15% per annum accrued daily and paid monthly in cash on the outstanding notes face value. Security First ranking security interest in all present and after acquired property of the company. Attaching options 30,000,000 options each exercisable at $0.05 per option expiring 31 December 2027 issued pro-rata to the noteholders on 26 April 2024.
An additional 4,000,000 options on the same terms as part of their Lead Manager mandate were issued on 26 April 2024.
11
Jayride Group Limited Notes to the financial statements 30 June 2024
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Note 8. Borrowings (continued)
Accounting policy for borrowings
Initial recognition and measurement
At inception, the convertible note instrument is bifurcated into two components: the host debt liability and the embedded derivative conversion option.
-
Embedded derivative conversion option: The fair value of the embedded derivative conversion option is determined at inception using an appropriate valuation model (e.g., Monte-Carlo simulation-based valuation methodology). This fair value is recognised as a financial liability.
-
Host debt liability: The residual amount, after deducting the fair value of the embedded derivative conversion option from the total proceeds received, is assigned to the host debt liability. The host debt liability is initially recognised at fair value, which is typically the residual amount.
Subsequent measurement
-
Embedded derivative conversion option: The embedded derivative conversion option is subsequently measured at fair value at each reporting date. Changes in the fair value are recognised in profit or loss.
-
Host debt liability: The host debt liability is subsequently measured at amortised cost using the effective interest method. Interest expense is recognised in profit or loss over the term of the convertible note.
Derecognition
The convertible note instrument is derecognised when the obligation is discharged, cancelled, or expires. Upon conversion, the carrying amount of the host debt liability and the fair value of the embedded derivative conversion option are reclassified to equity.
Note 9. Issued capital
| Note 9. Issued capital | ||||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Shares | Shares | $ | $ | |
| Ordinary shares - fully paid | 235,600,025 | 203,374,022 | 43,874,159 | 42,054,859 |
| Ordinaryshares - held in Employees' Trust | 709,093 | 263,780 | - | - |
| 236,309,118 | 203,637,802 | 43,874,159 | 42,054,859 |
12
Jayride Group Limited Notes to the financial statements 30 June 2024
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Note 9. Issued capital (continued)
Movements in ordinary share capital
| Movements in ordinary share capital | ||||
|---|---|---|---|---|
| Details | Date | Shares | Issue price | $ |
| Balance | 1 July 2022 | 176,258,277 | 37,875,428 | |
| Issue of shares to employees under ESS | 5 July 2022 | 645,483 | $0.1325 | 85,527 |
| Issue of shares to employees under ESS | 18 October 2022 | 561,598 | $0.1392 | 78,157 |
| Acquisition of securities by Trust funded by Jayride | 15 November 2022 | (550,000) | $0.1820 | (100,102) |
| Share issue costs | 30 November 2022 | - | (34,600) | |
| Share issue costs | 1 December 2022 | - | (218,600) | |
| Issue of shares - Institutional placement | 2 December 2022 | 24,235,294 | $0.1700 | 4,120,000 |
| Share issue costs | 2 December 2022 | - | (43,534) | |
| Acquisition of securities by Trust funded by Jayride | 31 August 2022 | (553,826) | $0.2004 | (111,000) |
| Acquisition of securities by Trust funded by Jayride | 6 December 2022 | (136,800) | $0.1820 | (24,898) |
| Issue of shares - Share Purchase Plan | 23 December 2022 | 1,588,250 | $0.1700 | 270,000 |
| Share issue costs | 23 December 2022 | - | (2,226) | |
| Share issue costs | 1 January 2023 | - | (20,262) | |
| Issue of shares to employees under ESS | 18 January 2023 | 625,098 | $0.1550 | 96,890 |
| Issue of shares to employees under ESS | 19 April 2023 | 700,648 | $0.1200 | 84,079 |
| Balance | 30 June 2023 | 203,374,022 | 42,054,859 | |
| Issue of shares | 5 October 2023 | 6,153,848 | $0.0650 | 400,000 |
| Share issue costs | 24 October 2023 | - | (18,225) | |
| Share issue costs | 27 October 2023 | - | (6,000) | |
| Issue of shares | 30 October 2023 | 15,179,827 | $0.0650 | 986,689 |
| Share issue costs | 30 October 2023 | - | (95,905) | |
| Issue of shares | 31 October 2023 | 9,437,641 | $0.0650 | 613,447 |
| Share issue costs | 15 November 2023 | - | (14,161) | |
| Share issue costs | 31 December 2023 | - | (64,944) | |
| Share issue costs | 9 January 2023 | - | (10,099) | |
| Issue of shares to employees under ESS | 22 February 2024 | 1,454,687 | $0.0200 | 29,094 |
| Share issue costs | 26 February2024 | - | (596) | |
| Balance | 30 June 2024 | 235,600,025 | 43,874,159 |
Movements in shares held in Employees Trust
| Details | Date | Shares |
|---|---|---|
| Balance | 1 July 2022 | 125,981 |
| Issue of shares to employees | 5 July 2022 | (645,483) |
| Acquisition of securities by Trust funded by Jayride | 31 August 2022 | 553,826 |
| Issue of shares to employees | 18 October 2022 | (561,598) |
| Acquisition of securities by Trust funded by Jayride | 15 November 2022 | 550,000 |
| Issue of shares to employees | 18 January 2023 | (625,098) |
| Acquisition of securities by Trust funded by Jayride | 6 December 2022 | 136,800 |
| Shares issued to Trust | 28 February 2023 | 630,000 |
| Issue of shares to employees | 19 April 2023 | (700,648) |
| Shares issued to Trust | 9 June 2023 | 800,000 |
| Balance | 30 June 2023 | 263,780 |
| Share issued to Trust | 22 February 2024 | 1,900,000 |
| Issue of shares to employees | 22 February2024 | (1,454,687) |
| Balance | 30 June 2024 | 709,093 |
13
Jayride Group Limited Notes to the financial statements 30 June 2024
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Note 10. Reserves
| Note 10. Reserves | ||
|---|---|---|
| 2024 | 2023 | |
| $ | $ | |
| Share-basedpayments reserve | 1,723,615 | 1,859,999 |
Share-based payments reserve
The reserve is used to recognise the value of equity benefits provided to employees and directors as part of their remuneration, and other parties as part of their compensation for services.
Movements in share-based payments reserve
| Movements in share-based payments reserve | ||||
|---|---|---|---|---|
| Share-based payments | ||||
| Equity | Options | Other | Total | |
| $ | $ | $ | $ | |
| Balance at 1 July 2022 | 98,248 | 2,037,414 | - | 2,135,662 |
| Share-based payments (shares) | 17,851 | - | - | 17,851 |
| Share-based payments (options) | - | 294,000 | - | 294,000 |
| Transfer in relation to expiryof share options | - | (587,514) | - | (587,514) |
| Balance at 30 June 2023 | 116,099 | 1,743,900 | - | 1,859,999 |
| Share-based payments (shares) | (116,098) | - | - | (116,098) |
| Share-based payments (options) | - | 293 | - | 293 |
| Transfer in relation to expiry of share options | - | (204,732) | - | (204,732) |
| Shares to employees under ESS (Q2 2024) | 20,503 | - | - | 20,503 |
| Shares to employees under ESS (Q2nd Half 2024) | 49,713 | - | - | 49,713 |
| Other reserves - convertible notes | - | - | 113,937 | 113,937 |
| Balance at 30 June 2024 | 70,217 | 1,539,461 | 113,937 | 1,723,615 |
14
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Jayride Group Limited (ASX:JAY) ABN 49 155 285 528 [email protected] http://www.jayride.com