69 Kazia Theraputics Limited Annual Report 2022 2022 at a Glance Chairman’s Letter CEO’s Report Key Milestones Pipeline Review ESG Financial Reports Note 29. Parent entity information continued Significant accounting policies The accounting policies of the parent entity are consistent with those of the consolidated entity, as disclosed in note 2, except for the following: • Investments in subsidiaries are accounted for at cost, less any impairment, in the parent entity. • Dividends received from subsidiaries are recognised as other income by the parent entity and its receipt may be an indicator of an impairment of the investment. Note 30. Interests in subsidiaries The consolidated financial statements incorporate the assets, liabilities and results of the following subsidiaries in accordance with the accounting policy described in note 2: Ownership interest Principal place of business / 2022 2021 Name Country of incorporation % % Kazia Laboratories Pty Limited Australia 100.00% 100.00% Kazia Research Pty Limited Australia 100.00% 100.00% Kazia Therapeutics Inc. United States of America 100.00% 100.00% Glioblast Pty Limited Australia 100.00% 100.00% Kazia Therapeutics (Hong Kong) Limited Hong Kong 100.00% 100.00% Note 31. Reconciliation of loss after income tax to net cash used in operating activities Consolidated 2022 2021 $ $ Loss after income tax benefit for the year (24,647,815) (8,421,960) Adjustments for: Depreciation and amortisation 1,952,941 1,265,309 Share-based payments 1,674,581 636,383 Foreign exchange differences (1,789,464) 430,273 Loss on contingent consideration 152,287 2,570,261 Change in operating assets and liabilities: Increase in trade and other receivables (6,613) (5,027,134) Decrease/(increase) in prepayments 1,563,543 (1,182,391) Increase/(decrease) in trade and other payables (1,495,235) 1,010,520 Decrease in deferred tax liabilities (368,080) (484,347) Increase in other provisions 201,192 92,570 Net cash used in operating activities (22,762,663) (9,110,516) Our Collaborators
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