Financial Performance - Total revenue for the year ended December 31, 2020, was A$1,833,387, a decrease of 24% from A$2,411,213 in 2019[23] - The net loss for 2020 was A$10,543,658, compared to a net loss of A$16,700,199 in 2019, indicating an improvement in financial performance[23] - Cash and cash equivalents increased to A$2,194,084 as of December 31, 2020, from a negative balance of A$166,758 in 2019[25] - Total assets decreased significantly to A$12,953,665 in 2020, down from A$19,946,276 in 2019, reflecting a reduction in the company's asset base[25] - Long-term debt rose to A$3,688,257 in 2020, compared to A$1,874,392 in 2019, indicating increased financial leverage[25] - The company reported an accumulated deficit of A$34,102,300 as of December 31, 2020, highlighting ongoing financial challenges[36] Operational Challenges - The impact of COVID-19 has led to significant delays in operations and sales, particularly affecting the advertising sector reliant on 3D displays[40] - Limited cash resources may hinder the ability to pay vendors and continue operations without raising additional funds[43] - The global economic downturn due to Covid-19 has negatively impacted business operations and customer financial stability[61] - Manufacturing experience is limited, and reliance on third-party manufacturers may lead to production delays[52] - The company is experiencing rapid growth, which places significant demands on its management and operational infrastructure, necessitating improvements in controls and reporting systems[70] Strategic Focus - The company has divested from in-house research and development of 3D technologies to reduce costs and focus on marketing and sales[37] - Future revenue generation will rely on the successful commercialization of new products, including nano-coat plated filters and switchable glass[38] - The company has stopped R&D in 3D technologies and is focusing on marketing and sales, with uncertain future prospects due to new product introductions[47] - The company is focusing on marketing ASD products and plans to manufacture and sell nano-coated plates for air filters and switchable glass, which are expected to drive future growth[187] Financing and Investment - The company anticipates requiring additional financing to support ongoing operations and product development[41] - Future financing may be pursued through joint ventures and debt or equity financing, which could dilute existing stockholders[44] - The company may seek to raise additional funds through equity offerings, which could dilute existing shareholders' ownership[141] - The company plans to use net cash proceeds from various securities offerings for working capital and development of existing and new businesses[176][175] Market and Competition - The company faces significant competition in its markets, which may affect customer retention and financial performance[50] - The company faces intense competition in the electronics and digital media industries, which could lead to lower profit margins due to competitive pricing[73] - Future sales may decline if the company's products do not gain market acceptance, influenced by factors such as timing of market introduction and pricing[96] Regulatory and Compliance Risks - The company must comply with local building codes and ordinances for its switchable glass products, and failure to do so could impair its ability to market and sell these products[88] - The company is subject to Australian takeover laws, which may discourage takeover offers or large share acquisitions[100] - Changes in Chinese government regulations could directly impact the company's operations and financial performance[111] Intellectual Property and Innovation - The company intends to seek patent protection for its 3D products and technologies, but there is uncertainty regarding the approval of pending or future patent applications[118] - The company faces risks related to the enforcement of its intellectual property rights, which could negatively impact its ability to commercialize products[119] - The company relies on unpatented trade secrets and know-how, which are difficult to protect and may lead to competitive harm if not adequately safeguarded[122] - The lack of patent protection in certain countries may hinder the company's ability to commercialize its products effectively in those markets[123] Shareholder and Market Considerations - The company has never paid a dividend and does not intend to pay dividends in the foreseeable future, meaning shareholders may not receive any return on their investment from dividends[144] - The ordinary shares of the company traded below $5.00 per share during the fiscal year ended December 31, 2020, categorizing them as "penny stocks" under SEC regulations[129] - The company may be classified as a Passive Foreign Investment Company (PFIC), which could impose adverse tax implications for U.S. investors[133] - The company may face delisting from Nasdaq if it fails to maintain compliance with continued listing requirements, which could adversely affect its stock liquidity and market perception[126] Acquisitions and Subsidiaries - The company acquired 51% of Sunup Holdings Limited for a total consideration of US$1,500,000, with uncertainties regarding the successful integration of Sunup's operations[75] - The company acquired 25.5% interests in Sunup Holdings Limited for US$1,500,000, paid by issuing 500,000 shares at US$3.00 per share[168][183] - The company established a new wholly owned subsidiary, GOXD Technology Limited, in July 2017 for sales and distribution of 2D/3D glasses-free 4K digital photo frames[156] Future Outlook - The company plans to install and operate switchable glass and energy-saving glass lamination operations with an annual production capacity of 160,000 - 240,000 m of laminated glass[193] - The switchable glass technology aims to reduce energy usage in buildings by blocking heat and glare, enhancing user comfort and reducing the need for blinds[201] - The company has started manufacturing and selling nano-coated plate filters, which eliminate small particle pollutants and are expected to secure orders in Q2 2021[209] - The company is focusing on IoT products as a core business, seeking investment opportunities in local IoT technologies and expanding into markets like Australia[215]

Financial Performance - Total revenue for the year ended December 31, 2019, was A$2,411,213, an increase of 32.7% from A$1,815,475 in 2018[23] - The company recorded a net loss of A$16,700,199 for the year ended December 31, 2019, compared to a net loss of A$16,843,223 in 2018[23] - As of December 31, 2019, the company had an accumulated deficit of A$25,786,912[35] - Total assets decreased to A$19,946,276 as of December 31, 2019, down from A$26,033,074 in 2018, representing a decline of 23.8%[24] - Cash and cash equivalents were A$166,758 as of December 31, 2019, a significant decrease from A$1,514,215 in 2018[24] - The company incurred significant losses in 2019 and may continue to face losses as it develops its 3D products, requiring additional financing to fund operations and R&D activities[41] - Future financing needs are anticipated to increase due to rising costs associated with 3D product development, including the need to defend intellectual property rights and outsource manufacturing[42] - The company has limited cash resources and may struggle to pay vendors and continue operations without raising additional funds[44] - The company has experienced fluctuations in operating results due to its limited operating history, making revenue and expense forecasting challenging[48] - The company has incurred losses in 2018 and 2019, but had profits in 2016 and 2017 from its ASD products and software, indicating uncertain future prospects[49] Operational Challenges - The company experienced a decline in sales of its ASD products and software, leading to operational losses[35] - The company faces significant risks due to the COVID-19 pandemic, which has impacted operations and sales activities[33][40] - The company needs to consistently sell its 3D products and services to increase revenue and return to profitability[35] - The company relies on contractors for manufacturing and may face risks related to contractor performance, which could negatively impact product commercialization[59] - The company is dependent on successful integration of recent acquisitions, such as Marvel Digital Limited, to grow its 3D products and services business[51] - The company faces significant competition in the 3D display market from competitors with greater financial resources and experience[52] - The company may need to rely on third-party marketing and distribution capabilities for its consumer electronics products, which could impact revenue potential[54] - The company is exposed to risks related to intellectual property infringement claims, which could be costly and time-consuming to defend[63] - The company primarily relies on distributors for its 3D display technology, and failure to retain key distributors could materially affect its business[68] Market and Economic Conditions - The global economic downturn due to Covid-19 has negatively impacted the company's operations, particularly in China and Hong Kong, leading to potential cash flow issues for customers[69] - Capital markets are experiencing instability, which may restrict the company's access to debt and equity capital, adversely affecting its financial condition[71] - The tightening of credit markets and weakening global economy due to Covid-19 may lead to decreased consumer spending on the company's products[79] - The company is subject to risks inherent in the electronics and digital media industries, including fluctuations in demand and rapid technological changes[82] - The company faces competition from both local and foreign competitors, which could result in lower profit margins[84] - Changes in government legislation and policy may adversely affect the company's operations and financial resources[92] - Currency fluctuations may increase costs and decrease revenues, particularly as expenses are primarily denominated in Hong Kong dollars and Renminbi[93] - China's GDP growth rate slowed to 6.1% in 2019, down from 6.7% in 2018 and 6.9% in 2017, potentially impacting investment in digital advertising networks and reducing demand for the company's products and services[100] - The company may rely on dividends from its operating subsidiaries in China to meet cash and financing needs, but limitations on these dividends could restrict business operations[102] - A significant portion of the company's revenues is denominated in Renminbi, which is currently convertible under the "current account," but future restrictions on currency exchange may limit the ability to utilize these revenues for international transactions[103] - The Chinese government may alter regulations and policies that could directly or indirectly impact the company's operations, including media broadcast regulations and foreign investment rules[106][107] Strategic Initiatives - The company divested from in-house research and development of core 3D technologies in May 2020 to reduce costs and focus on marketing and sales[36] - The company intends to continue financing operations through the issuance of securities, which may lead to dilution of existing shareholders' ownership[134] - The company aims to increase its shareholders' equity to more than US$2.5 million to comply with Nasdaq's continual listing requirements[171] - IMTE has developed a comprehensive ecosystem of technology in the autostereoscopic display domain, including hardware and software solutions[172] - IMTE plans to position itself as a technology investment company, seeking acquisitions that can broaden its revenue base and enhance synergy with existing operations[191] Product Development and Market Trends - The global 3D display market is expected to experience unprecedented growth, driven by increasing demand for autostereoscopic displays that do not require glasses[194] - The adoption of 3D displays in the advertising sector is a major trend, with vendors seeking to enhance customer engagement through glasses-free technology[195] - IMTE is developing a series of ASD displays and video walls, aiming to deliver high-quality 3D content for digital signage networks[187] - The company has developed VISUMOTION software for converting 2D/3D content to ASD, positioning itself at the forefront of ASD conversion technology[207] - IMTE's ASD mobile phone utilizes switchable parallax barrier technology, allowing for a seamless transition between 2D and 3D modes[214] - The ASD ecosystem requires a variety of products and services, along with sufficient 3D content, to facilitate consumer adoption of the technology[197] - The company is exploring new applications for ASD technology in education, entertainment, architecture, and healthcare, indicating a broad market potential[196] - The global 3D display market size is expected to reach USD 204.16 billion by 2025[217] - The market is exhibiting a CAGR of 19.4% during the forecast period from 2017 to 2025[217] - Increased popularity of 3D technology is driving market growth, evidenced by successful 3D films like The Lego Movie and Captain America: The Winter Soldier[217] - The advertisement sector is witnessing increased adoption of 3D displays, with agencies showcasing 3D content on billboards[217] - The growth rate of the global 3D display market is significantly attributed to the increased penetration of 3D TVs[217] - The rise in 3D content is expected to further contribute to the growth of the global 3D display market[217]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF ...