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Australian Oilseeds Holdings Limited(COOT) - 2024 Q4 - Annual Report
COOTAustralian Oilseeds Holdings Limited(COOT)2024-03-27 21:23

Financial Position - As of June 30, 2023, the company reported cash and cash equivalents of USD 124,730[22]−TotalequityamountedtoUSD124,730[22] - Total equity amounted to USD 46,845, with retained earnings showing a deficit of USD (21,062,534)[22]−Thecompanyhasnomaterialassetsotherthanitsequityinterestsinwhollyownedsubsidiaries[25]−TheconsolidatedfinancialstatementsfortheperiodfromOctober14,2022,toJune30,2023,havebeenauditedbyBFBorgersCPAPC[65]ShareStructure−Thecompanyhas23,224,102OrdinarySharesissuedandoutstanding,with58.4(21,062,534)[22] - The company has no material assets other than its equity interests in wholly owned subsidiaries[25] - The consolidated financial statements for the period from October 14, 2022, to June 30, 2023, have been audited by BF Borgers CPA PC[65] Share Structure - The company has 23,224,102 Ordinary Shares issued and outstanding, with 58.4% owned by CEO Gary Seaton[41] - Approximately 73.6% of the total issued and outstanding Ordinary Shares are subject to a lock-up period following the Business Combination[48] - The Company has 23,224,102 Ordinary Shares issued and outstanding as of March 27, 2024, following the completion of the Business Combination[55] - The Company is authorized to issue 550,000,000 ordinary shares and 5,000,000 preference shares, each with a par value of 0.001[54] Warrants and Dividends - There are 9,000,000 Public Warrants outstanding, each exercisable to purchase one Ordinary Share at an exercise price of 11.50pershare[50]−ThePublicWarrantswillexpirefiveyearsafterthecompletionoftheBusinessCombinationorearlieruponredemptionorliquidation[50]−TheCompanyissuedprivateplacementwarrantsgrantingtherighttopurchase239,000OrdinarySharesatanexercisepriceof11.50 per share[50] - The Public Warrants will expire five years after the completion of the Business Combination or earlier upon redemption or liquidation[50] - The Company issued private placement warrants granting the right to purchase 239,000 Ordinary Shares at an exercise price of 10.00 per share, expiring five years after the Business Combination[56] - The Company has not paid any dividends to its shareholders and intends to retain earnings for business operations[62] - The company intends to retain earnings for business operations and does not anticipate declaring dividends in the foreseeable future[45] Business Combination - The business combination was completed on December 29, 2022, marking a significant development in the company's history[24] - The Escrow Shares, amounting to 15% of the estimated Exchange Consideration, will be held for 12 months post-Closing for potential purchase price adjustments and indemnification claims[49] Legal and Compliance - The company does not currently face any legal proceedings that would materially affect its financial condition[44] - The Company must maintain at least 400 unrestricted round lot shareholders to comply with Nasdaq listing requirements[52] Executive Compensation - The executive compensation program aims to align compensation with business objectives and shareholder value creation[31]