58 FINANCIAL REPORT NOTES TO THE FINANCIAL STATEMENTS CONTINUED 30 June 2023 Note 5. Reclassification of comparatives During the preparation of the financial statements for the current year, a reclassification between borrowings and other assets was performed to better reflect the insurance funding premium utilised by the Company, a reclassification of non-current annual leave employee benefit to current employee benefits and a reclassification between loss on remeasurement of contingent consideration and general and administrative expense to accurately reflect the impact of the unwinding of discounting contingent consideration for the paxalisib. 30 June 2022 Restated Movement 30 June 2022 Reclassified Other assets 156,153 1,841,052 1,997,205 Borrowings - 1,841,052 1,841,052 Current employee benefits 166,196 202,386 368,582 Non-current employee benefits 319,017 (202,386) 116,631 Loss on remeasurement of contingent consideration (152,287) 152,287 - General and administrative expense (4,961,224) (152,287) (5,113,511) Note 6. Operating segments Identification of reportable operating segments The consolidated entity’s operating segment is based on the internal reports that are reviewed and used by the Board of Directors (being the Chief Operating Decision Makers (‘CODM’)) in assessing performance and in determining the allocation of resources. The consolidated entity operates in the pharmaceutical research and development business. There are no operating segments for which discrete financial information exists. The information reported to the CODM, on at least a quarterly basis, is the consolidated results as shown in the statement of profit or loss and other comprehensive income and statement of financial position. Note 7. Other income Consolidated 2023 2022 $ $ Subsidies and grants - 10,000 Bad debt recovery - 14,956 Other sundry income 555 - Other income 555 24,956
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