Integrated Media Technology Ltd 6-K, filed Dec 16, 2022

Integrated Media Technology Ltd (IMTE)

6-K 2022-12-16 For: 2022-12-16

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Added on April 11, 2026

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Integrated Media Technology Ltd filed this 6-K on December 16, 2022.

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	Integrated Media Technology Limited

	By:	/s/ Xiaodong Zhang
	Name:	Xiaodong Zhang
	Title:	Chief Executive Officer

Exhibit		Description of Exhibit
99.1		Interim Report - For the Six Months Ended June 30, 2022

	For the Six Months Ended
Key Information	June 30, 2022 A$			June 30, 2021 A$			% of Increase/ (Decrease)
Revenue from operating activities		-			3,294			N/A
Earnings before interest, tax, depreciation and amortization (“EBITDA”)		1,073,098			(5,388,117	)		120	%
Loss from ordinary activities after tax attributable to members		(1,347,401	)		(6,680,453	)		(80	%)
Total comprehensive gain/(loss) attributable to members		236,094			(6,414,078	)		104	%
Basic and diluted loss per share		(0.10	)		(0.88	)		(89	%)
Interim dividend		N/A			N/A			N/A

	Pages

Unaudited Condensed Consolidated Statements of Profit or Loss and Other Comprehensive Income (Loss)	1
Unaudited Condensed Consolidated Statements of Financial Position	2
Unaudited Condensed Consolidated Statements of Changes in Equity	3
Unaudited Condensed Consolidated Statements of Cash Flows	4
Notes to the Unaudited Condensed Consolidated Financial Statements	5-26

		Group
		June 30 2022			June 30 2021
	Notes	A$			A$

Revenue, net	4		-			3,294
Cost of goods sold			-			(2,202	)
			-			1,092

Interest income			398,797			9,848
Fair value gain/(loss) on derivative financial instruments			2,321,003			(2,914,034	)
Gain on deemed disposal of subsidiary	24(a)		48,374			-
Other income	5		2,878			25,000
			2,771,052			(2,878,094	)
EXPENSES
Employee benefit expenses			(1,005,898	)		(1,058,535	)
Depreciation and amortization			(1,002,985	)		(653,226	)
Professional and consulting expenses			(719,821	)		(1,103,185	)
Travel and accommodation expenses			(50,271	)		(29,801	)
Office expenses and supplies			(37,777	)		(41,065	)
Rental costs			(17,076	)		(63,039	)
Other operating expenses			(107,925	)		(168,741	)
Finance costs	6		(2,080,845	)		(1,089,514	)
Exchange gain/(losses)			144,361			(45,657	)
Gain on Disposal of Subsidiary			96,453			-
Share of losses of associates			(98,032	)		-
Total expenses			(4,879,816	)		(4,252,763	)

LOSS BEFORE INCOME TAX			(2,108,764	)		(7,130,857	)

Income tax expense	7(a)		-			-

LOSS FOR THE PERIOD			(2,108,764	)		(7,130,857	)

OTHER COMPREHENSIVE INCOME
Items that may be reclassified subsequently to profit or loss:
Exchange difference on translation of financial statements of overseas subsidiaries			2,010,272			417,589
Share of other comprehensive income of associates			16,269			-
Items that will not be reclassified to profit or loss:
Change in value of a financial asset at fair value through other comprehensive income			(380,000	)		-
Other comprehensive income for the period, net of tax			1,646,541			417,589

TOTAL COMPREHENSIVE LOSS FOR THE PERIOD			(462,223	)		(6,713,268	)

Loss for the period attributable to:
Owners of the Company			(1,347,401	)		(6,680,453	)
Non-controlling interests			(761,363	)		(450,404	)
			(2,108,764	)		(7,130,857	)

Total comprehensive loss for the period attributable to:
Owners of the Company			236,094			(6,414,078	)
Non-controlling interests			(698,317	)		(299,190	)
			(462,223	)		(6,713,268	)
Loss per share
- Basic and diluted	9		(0.10	)		(0.88	)


Integrated Media Technology Limited \| Interim Report \| June 30, 2022	Page i


Integrated Media Technology Limited \| Interim Report \| June 30, 2022	Page 1 of 26

		Group
		June 30 2022			December 31 2021
	Notes	A$			A$
ASSETS
CURRENT ASSETS
Cash and bank balances			348,521			274,767
Inventories	10		6,673,350			-
Right of use assets	18		438,821			513,942
Trade and other receivables	11		485,835			486,121
Other assets	12		3,158,028			2,006,636
Total current assets			11,104,555			3,281,466

NON-CURRENT ASSETS
Plant and equipment	13		6,188,326			6,441,734
Intangible assets	14		515,167			1,900,589
Financial asset at fair value through other comprehensive income	15		182,500			562,500
Investment in an associate	16		482,207			-
Other assets – equipment deposits	12		28,510,382			11,459,195
Amount due from an associate	17		170,507			-
Right of use assets	18		1,120,084			1,444,927
Total non-current assets			37,169,173			21,808,945
TOTAL ASSETS			48,273,728			25,090,411

LIABILITIES
CURRENT LIABILITIES
Trade and other liabilities	19		1,147,197			2,424,717
Amounts due to related companies	20		-			247,406
Derivative financial instruments	21		-			2,321,003
Convertible promissory notes	22		-			4,311,416
Lease liabilities	18		372,883			425,567
Total current liabilities			1,520,080			9,730,109

NON-CURRENT LIABILITIES
Lease liabilities	18		1,284,460			1,403,932
Warrant liabilities			1,208,494			-
Total non-current liabilities			2,492,954			1,403,932
TOTAL LIABILITIES			4,013,034			11,134,041

NET CURRENT ASSETS/(LIABILITIES)			9,584,475			(6,448,643	)

NET ASSETS			44,260,694			13,956,370

CAPITAL AND RESERVES
Issued capital (no par value, 15,785,072 ordinary shares issued and outstanding as of June 30, 2022 and 9,329,420 ordinary shares as of December 31, 2021)	23		79,979,235			48,144,406
Foreign currency translation reserves	25		2,709,574			762,347
Other reserves	25		(1,108,131	)		62,500
Accumulated losses			(38,516,759	)		(37,169,357	)
Equity attributable to owners of the Company			43,063,919			11,799,896
Non-controlling interests			1,196,775			2,156,474
TOTAL EQUITY			44,260,694			13,956,370


Integrated Media Technology Limited \| Interim Report \| June 30, 2022	Page 2 of 26

	Attributable to Owners of the Company													Non- Controlling Interests			Total Equity
Group	Issued Capital		Retained Earnings / (Accumulated Losses)			Foreign Currency Translation Reserve (Note 25(a))		Other reserves (Note 25(b))			Total
	A$		A$			A$		A$			A$			A$			A$

Balance as of January 1, 2021		32,089,997		(34,102,300	)		883,878		2,704,452			1,576,027			3,329,825			4,905,852

Loss for the period		-		(6,680,453	)		-		-			(6,680,453	)		(450,404	)		(7,130,857	)
Other comprehensive income, net of tax		-		-			266,375		-			266,375			151,214			417,589
Total comprehensive income / (loss) for the period		-		(6,680,453	)		266,375		-			(6,414,078	)		(299,190	)		(6,713,268	)

Acquisition of subsidiary		-		-			-		-			-			441,041			441,041
Issuance of new ordinary shares		12,228,148		-			-		-			12,228,148			-			12,228,148
Balance as of June 30, 2021		44,318,145		(40,782,753	)		1,150,253		2,704,452			7,390,097			3,471,676			10,861,773

Balance as of January 1, 2022		48,144,406		(37,169,358	)		762,348		62,500			11,799,896			2,156,474			13,956,370

Loss for the period		-		(1,347,401	)		-		-			(1,347,401	)		(761,363	)		(2,108,764	)
Change in value of a financial asset at fair value through other comprehensive income		-		-			-		(1,170,631	)		(1,170,631	)		-			(1,170,631	)
Other comprehensive income, net of tax		-		-			1,947,226		-			1,947,226			63,046			2,010,272
Total comprehensive income / (loss) for the period		-		(1,347,401	)		1,947,226		(1,170,631	)		(570,806	)		(698,317	)		(1,269,123	)

Capital injection of subsidiary		-		-			-		-			-			1,109,130			1,109,130
Acquisition of subsidiary		-		-			-		-			-			419,521			419,521
Deemed disposal of subsidiary		-		-			-		-			-			(1,790,033	)		(1,790,033	)
Issuance of new ordinary shares		31,834,829		-			-		-			31,834,829			-			31,834,829
Balance as of June 30, 2022		79,979,235		(38,516,759	)		2,709,574		(1,108,131	)		43,063,919			1,196,775			44,260,694


Integrated Media Technology Limited \| Interim Report \| June 30, 2022	Page 3 of 26

		Group
		For the Six Months Ended June 30 2022			For the Six Months Ended June 30 2021
	Notes	A$			A$

CASH FLOWS FROM OPERATING ACTIVITIES
Net loss before tax			(2,108,764	)		(7,130,857	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization			1,002,985			653,226
Change in fair value of warrants			1,208,494			-
Gain on deemed disposal of a subsidiary			(96,453	)		-
(Gain)/Loss on fair value change of derivative on financial instruments			(2,321,003	)		2,914,034
Share of losses of an associate			98,032			-
Interest accrued for lease liabilities			97,086			8,475
Interest accrued for convertible notes			324,419			1,072,311
Interest income from short term loan			(398,797	)		-
Provision for inventories obsolescence			-			(230	)
Net cash flows from changes in working capital	29		(7,781,253	)		(1,059,016	)
NET CASH OUTFLOW USED IN OPERATING ACTIVITIES			(9,975,254	)		(3,542,057	)

CASH FLOWS FROM INVESTING ACTIVITIES
Deemed disposal of subsidiaries, net of cash disposal of	24		(14,892	)		-
Payment for investment			-			(500,000	)
Deposit paid for lamination production equipment			(16,467,808	)		(6,663,401	)
Payments for plant and equipment			(2,500	)		(61,552	)
NET CASH OUTFLOW FROM INVESTING ACTIVITIES			(16,485,200	)		(7,224,953	)

CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds of advances from other payables			-			224,291
Payment of lease liabilities – principal portion			(178,767	)		(48,708	)
Payment of lease liabilities – interest portion			(97,086	)		-
Proceeds from shares issued			26,795,590			12,228,148
NET CASH INFLOW PROVIDED BY FINANCING ACTIVITIES			26,519,737			12,403,731

NET INCREASE IN CASH AND CASH EQUIVALENTS			59,283			1,636,721
CASH AND CASH EQUIVALENTS AT THE BEGINNING OF PERIOD			274,767			2,194,084
Effect of exchange rate changes on cash and cash equivalents			14,471			165,918

CASH AND CASH EQUIVALENTS AT END OF PERIOD			348,521			3,996,723

Analysis of cash and cash equivalents:

Cash and bank balances			348,521			3,996,723


Integrated Media Technology Limited \| Interim Report \| June 30, 2022	Page 4 of 26


Integrated Media Technology Limited \| Interim Report \| June 30, 2022	Page 5 of 26


Integrated Media Technology Limited \| Interim Report \| June 30, 2022	Page 6 of 26

	Sales and distribution of 3D displays (Remark 1)		Sales of electronic glass (Remark 2)			Sales of air-filter products (Remark 3)			Provision of credit risk analysis (Remark 4&6)			NFT (Remark 5)			Corporate			Total
	A$		A$			A$			A$			A$			A$			A$
Unaudited Consolidated – 2021
For the six months ended June 30, 2021
Revenue
Sales to external customers		3,294		-			-			-			-			-			3,294
Intersegment sales		-		-			-			-			-			-			-
Total sales revenue		3,294		-			-			-			-			-			3,294
Other revenue		9,848		-			-			-			-			25,000			34,848
Total revenue		13,142		-			-			-			-			25,000			38,142

EBITDA																			(5,388,117	)

Depreciation and amortization																			(653,226	)
Finance costs																			(1,089,514	)
Loss before income tax																			(7,130,857	)
Income tax expense																			-
Loss after income tax																			(7,130,857	)

As of June 30, 2021 Assets
Segment assets		-		15,645,858			6,417,042			2,049,261			767,670			210,580			25,090,411
Liabilities
Segment liabilities		-		(1,737,509	)		(457,741	)		(808,980	)		(287,802	)		(7,842,009	)		(11,134,041	)


Integrated Media Technology Limited \| Interim Report \| June 30, 2022	Page 7 of 26


Integrated Media Technology Limited \| Interim Report \| June 30, 2022	Page 8 of 26


Integrated Media Technology Limited \| Interim Report \| June 30, 2022	Page 9 of 26

	Sales of electronic glass (Remark 2)			Sales of air-filter products (Remark 3)			Sales of Halal products (Remark 5)		Provision of credit risk analysis (Remark 4&6)		Provision of consultancy service (Remark 5)			NFT (Remark 5)			Corporate			Total
	A$			A$			A$		A$		A$			A$			A$			A$
Unaudited Consolidated – 2022
For the six months ended June 30, 2022 Revenue
Sales to external customers		-			-			-		-		-			-			-			-
Intersegment sales		-			-			-		-		-			-			-			-
Total sales revenue		-			-			-		-		-			-			-			-
Other revenue		-			-			-		1		2,878			-			398,796			401,675
Gain on deemed disposal of a subsidiary		-			-			-		-		-			-			-			-
Gain on fair value change in derivative financial instruments		-			-			-		-		-			-			2,321,003			2,321,003
Total revenue		-			-			-		1		2,878			-			2,719,799			2,722,678

EBITDA																					1,073,098
Depreciation and amortization																					(1,002,985	)
Finance costs																					(2,080,845	)
Share of losses of associates																					(98,032	)
Loss before income tax																					(2,108,764	)
Income tax credit																					-
Loss after income tax																					(2,108,764	)

As of June 30, 2022 Assets
Segment assets		30,119,394			6,163,068			463,209		2,196,488		2,461,939			1,284,874			5,584,756			48,273,728
Liabilities
Segment liabilities		(1,582,540	)		(474,404	)		-		-		(394,429	)		(527	)		(1,561,134	)		(4,013,034	)


Integrated Media Technology Limited \| Interim Report \| June 30, 2022	Page 10 of 26


Integrated Media Technology Limited \| Interim Report \| June 30, 2022	Page 11 of 26

	Group
	Period Ended June 30 2022		Period Ended June 30 2021
	A$		A$

Development, sales and distribution of autostereoscopic 3D products and conversion equipment		-		3,294


Integrated Media Technology Limited \| Interim Report \| June 30, 2022	Page 12 of 26

	Group
	Period Ended June 30 2022	Period Ended June 30 2021
	A$	A$

Current tax expense	-	-
Income tax expense – Note 7(a)	-	-

	Period Ended June 30 2022			Period Ended June 30 2021
	A$			A$
Numerical reconciliation of income tax expense to prima-facie tax payable
Loss before income tax		(2,108,764	)		(7,130,857	)
Income tax benefit on loss before income tax at 30%		632,629			(2,139,257	)
Difference in overseas tax rates		1,386,943			(439,376	)
Less the tax effect of:
Temporary differences for the period for which no deferred tax is recognized		(2,019,572	)		2,578,633
Income tax expense		-			-

	June 30 2022		December 31 2021
	A$		A$

Balance brought forward		-		(13,668	)
Exchange rate difference		-		13,668
Balance carried forward		-		-


Integrated Media Technology Limited \| Interim Report \| June 30, 2022	Page 13 of 26

	2022	2021
	No. of shares	No. of shares
Weighted average number of ordinary shares as of January 1	9,329,420	6,513,671
Effect of shares issued	4,541,559	1,055,396
Weighted average number of ordinary shares adjusted as of June 30	13,870,979	7,569,067


Integrated Media Technology Limited \| Interim Report \| June 30, 2022	Page 14 of 26

Group	Leasehold Improvements			Office Furniture and Equipment			Machinery			Total
	A$			A$			A$			A$

As of December 31, 2021
Cost		42,392			199,798			7,655,465			7,897,655
Accumulated depreciation		(19,430	)		(177,086	)		(1,259,405	)		(1,455,921	)
As of December 31, 2021		22,962			22,712			6,396,060			6,441,734
Six months ended June 30, 2022
As of December 31, 2021		22,962			22,712			6,396,060			6,441,734
Additions		-			2,500			-			2,500
Disposals		-			-			-			-
Depreciation		(10,727	)		(6,039	)		(548,663	)		(565,429	)
Exchange difference		711			502			308,308			309,521
As of June 30, 2022		12,946			19,675			6,155,705			6,188,326

As of June 30, 2022
Cost		44,387			211,701			8,051,417			8,307,505
Accumulated depreciation		(31,441	)		(192,026	)		(1,895,712	)		(2,119,179	)
As of June 30, 2022		12,946			19,675			6,155,705			6,188,326


Integrated Media Technology Limited \| Interim Report \| June 30, 2022	Page 15 of 26

Group
	Technologies and Knowhow			Patents and Trademark		Software and License		Total
	A$			A$		A$		A$

As of December 31, 2021
Cost		8,118,413			-		-		8,118,413
Accumulated amortization		(6,217,824	)		-		-		(6,217,824	)
As of December 31, 2021		1,900,589			-		-		1,900,589

Six months ended June 30, 2022
As of December 31, 2021		1,900,589			-		-		1,900,589
Additions		648,684			-		515,167		1,163,851
Amortization		(33,213	)		-		-		(33,213	)
Disposal of a subsidiary		(2,545,193	)		-		-		(2,545,193	)
Exchange difference		29,133			-		-		29,133
As of June 30, 2022		-			-		515,167		515,167

As of June 30, 2022
Cost		-			-		515,167		515,167
Accumulated amortization		-			-		-		-
Provision for impairment		-			-		-		-
As of June 30, 2022		-			-		515,167		515,167


Integrated Media Technology Limited \| Interim Report \| June 30, 2022	Page 16 of 26


Integrated Media Technology Limited \| Interim Report \| June 30, 2022	Page 17 of 26

	June 30 2022			December 31 2021
	A$			A$
Gross amounts of net assets of the associate		2,012,734			-
Group’s effective interest		23.96	%		-
Group’s share of net assets of the associate		482,207			-
Carrying amount		482,207			-