72 FINANCIAL REPORT NOTES TO THE FINANCIAL STATEMENTS CONTINUED 30 June 2023 Note 29. 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 / 2023 2022 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% * Kazia Therapeutics (Hong Kong) Limited was formally deregistered and dissolved on 10 March 2023. Note 30. Reconciliation of loss after income tax to net cash used in operating activities Consolidated 2023 2022 restated $ $ Loss after income tax benefit for the year (20,465,180) (25,014,055) Adjustments for: Depreciation and amortisation 1,869,460 1,869,420 Share-based payments 1,159,125 1,674,581 Net foreign exchange differences 45,841 (2,154,165) Gain on remeasurement of contingent consideration (2,097,002) - Change in operating assets and liabilities: Decrease/(increase) in trade and other receivables 3,449,768 (6,613) Decrease/(increase) in prepayments 364,733 (277,509) Decrease in trade and other payables 568,829 (528,451) Decrease in deferred tax liabilities (271,092) (368,080) Increase in other provisions 263,913 201,157 (Decrease)/increase in borrowings (44,552) 1,841,052 Net cash used in operating activities (15,156,157) (22,762,663)
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