Annual Report 2022 35 Note 10. Non-current assets - financial assets at fair value through profit and loss Consolidated 2022 2021 $ $ Investment in Nyrada Inc.- ordinary shares 4,505,388 10,679,439 Investment in Nyrada Inc.- performance shares 909,645 3,592,980 5,415,033 14,272,419 Refer to note 16 for further information on fair value measurement. The investment in Nyrada Inc. is the fair value of the 33,373,245 Nyrada shares received upon Nyrada’s listing on the ASX, and the fair value of the 12,000,600 performance shares received. Refer to note 2 Critical accounting judgements, estimates and assumptions - valuation of investment in Nyrada for further information in relation to the valuation of the respective Nyrada shares. Note 11. Current liabilities - trade and other payables Consolidated 2022 2021 $ $ Trade and other payables 810,470 959,493 Accrued expenses 815,932 5,085,682 Other payables 169,319 84,995 1,795,721 6,130,170 Refer to note 15 for further information on financial instruments. Accounting policy for trade and other payables Trade and other payables are carried at amortised cost and represent liabilities for goods and services provided to the consolidated entity prior to the end of the financial period that are unpaid and arise when the consolidated entity becomes obliged to make future payments in respect of the purchase of these goods and services. Licensing fees are recognised as an expense when it is confirmed that they are payable by the consolidated entity.
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