Cellmid 2018 Annual Report
62
NOTES TO THE
FINANCIAL STATEMENTS
CONTINUED
30. CORRECTION OF PRIOR PERIOD ERROR
The company undertook a review of the reporting of its midkine inventories during the period based on the anticipated
future use and related time periods. As a result of this review the company has applied some consumption to prior periods
and reclassified the midkine inventories from current assets to plant and equipment. This reclassification better reflects the
anticipated future utilisation of the company’s midkine assets. This review has impacted prior periods and the relevant financial
line items affected are as follows:
Statement of financial Previous Adjustment Restated Previous Adjustment Restated
position (extract) amount amount amount amount
Inventories 2,079,323 (1,000,000) 1,079,323 2,009,792 (1,000,000) 1,009,792
Total current assets 6,562,302 (1,000,000) 5,562,302 5,131,104 (1,000,000) 4,131,104
Plant and equipment 68,722 675,982 744,704 69,017 688,120 757,137
Total non-current assets 1,910,107 675,982 2,586,089 2,283,710 688,120 2,971,830
Total assets 8,472,409 (324,018) 8,148,391 7,414,814 (311,880) 7,102,934
Accumulated losses (34,697,634) (324,018) (35,021,652) (30,279,575) (311,880) (30,591,455)
Total equity 4,395,044 (324,018) 4,071,026 4,690,050 (311,880) 4,378,170
Statement of profit or loss and Previous Adjustment Restated
other comprehensive income (extract) amount amount
Depreciation and amortisation expense (156,386) (12,137) (168,523)
Loss before income tax (4,434,539) (12,137) (4,446,676)
Loss for the year after income tax (4,470,136) (12,137) (4,482,273)
Total comprehensive income for the year (4,749,517) (12,137) (4,761,654)
Loss for the year is attributable to:
Owners of Cellmid Limited (4,470,136) (12,137) (4,482,273)
Total comprehensive income for the year attributable to:
Owners of Cellmid Limited (4,749,517) (12,137) (4,761,654)
Earnings per share for loss attributable to the owners of Cellmid Limited:
Basic earnings per share (cents) (8.80) 0.01 (8.79)
Diluted earnings per share (cents) (8.80) 0.01 (8.79)
30 June 2017 30 June 2016
30 June 2017