Noxopharm Limited 38 Note 13. Equity - reserves Consolidated 2022 2021 $ $ Options reserve 8,285,254 8,487,119 Option reserve The reserve is used to recognise the value of equity benefits provided to employees and directors as part of their remuneration, and other parties as part of their compensation for services. Note 14. Equity - dividends There were no dividends paid, recommended or declared during the current or previous financial year. Note 15. Financial instruments Financial risk management objectives The Board is responsible for overseeing the establishment and implementation of the risk management system, and reviews and assesses the effectiveness of the consolidated entity’s implementation of that system on a regular basis. The consolidated entity’s activities cause no material exposure to market risk (including currency risk and interest rate risk) and credit risk. The only material exposure is liquidity risk and price risk. The consolidated entity’s overall risk management program focuses on the unpredictability of financial markets and seeks to minimise potential adverse effects on the financial performance of the consolidated entity. The consolidated entity uses different methods to measure different types of risk to which it is exposed. The consolidated entity’s financial instruments consist of cash and cash equivalents, trade and other receivables, and trade and other payables. Consolidated 2022 2021 $ $ Cash and cash equivalents 6,010,668 7,672,948 Term Deposits at call 8,000,000 19,122,837 Trade and other payables (1,795,721) (6,130,170) Lease liabilities (160,624) (231,666) Investment in Nyrada ordinary shares 4,505,388 10,679,438 Investment in Nyrada performance shares 909,645 3,592,980 17,469,356 34,706,367
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