Announcement PDF BPH Global Limited (formerly known as Stemcell United Limited) ACN 009 104 330 APPENDIX 4E AND PRELIMINARY FINAL REPORT For the year ended 30 June 2023 BPH GLOBAL LIMITED (FORMERLY KNOWN AS STEMCELL UNITED LIMITED) APPENDIX 4E FOR THE YEAR ENDED 30 JUNE 2023 The following information is given to ASX under listing rule 4.3A. 1. Reporting period Current Period 12 months ended 30 June 2023 Prior Period 12 months ended 30 June 2022 2. Results for announcement to the market 2.1 2.2 2.3 2.4 2.5 2.6 2022 $ 494,005 (3,690,107) Revenue from continuing operations Loss from continuing operations after tax attributable to members Net loss attributable to members (3,690,107) Dividend N/A Record date for determining entitlements to the dividends N/A Explanatory information to to 2023 $ 339 (4,317,968) % Change down 100% up 17%% to (4,317,968) up 17%% The Group resumed trading on 31 March 2023 after nearly 2 years of trading suspension (since 27 September 2021). During the year, the Group sought and obtained shareholder approval for the disposal of subsidiary Shenzhen Lantene Dingzhi Biotechnology Co Ltd (“Lantene”) to re-focus the business activities. During the year, the Group has also raised about $1.5 million of cash (after costs) via placements in September 2022 and March 2023. The Group recorded a revenue of $339 (FY2022: $494,005) and a net loss of $3,536,728 (FY2022: net loss $4,564,525) from continuing operations. The loss of revenue is due to discontinued operation from disposal of subsidiary Lantene, while the increase of losses is mainly from the impairment of Intellectual Properties of $1,010,559 (refer Note 9 for more details). At year end, the Group has a cash balance of $510,217 (FY2022: $624,962). The unaudited full year results are set out in the accompanying Appendix 4E. 3. Statement of Profit or Loss and Other Comprehensive Income Refer accompanying preliminary financial report 4. Statement of Financial Position Refer accompanying preliminary financial report 5. Statement of Cash Flow Refer accompanying preliminary financial report BPH Global Limited (formerly known as Stemcell United Limited) 6. Dividends Paid or Recommended N/A 7. Details of any Dividend or distribution reinvestment plans N/A 8. Statement of movements in Retained Earnings Refer statement of changes in equity in the accompanying preliminary financial report 9. Net tangible assets per security 30 June 2022 1,049,784,349 0.31 Number of securities Net tangible assets per security in cents 30 June 2023 1,284,729,781 0.05 10. Changes in controlled entities Disposal of Shenzhen Lantene Dingzhi Biotechnology Co Ltd (refer Note 15 for more details). 11. Details of associates and joint venture entities N/A 12. Any other significant information needed by an investor to make an informed assessment of the entity’s financial performance and financial position Refer accompanying preliminary financial report 13. Foreign entities disclosures N/A 14. Additional information 14.1 Earnings per Share Refer accompanying preliminary financial report 14.2 Returns to Shareholders Refer accompanying preliminary financial report 14.3 Significant features of operating performance Refer accompanying preliminary financial report 14.4 Results of segments Refer accompanying preliminary financial report 14.5 Trends in performance Refer accompanying preliminary financial report 14.6 Subsequent events Refer accompanying preliminary financial report 15. Compliance Statement The financial statements are in the process of being audited. 3 BPH Global Limited (formerly known as Stemcell United Limited) 16. If the accounts have not yet been audited and are likely to contain an independent audit report that is subject to a modified opinion, emphasis of matter or other matter paragraph, a description of the modified opinion, emphasis of matter or other matter paragraph is described below During the year ended 30 June 2023, the consolidated entity incurred a loss after income tax of $3,536,728 (2022: $4,564,525) from continuing operations and net cash outflows from operating activities of $1,427,958 (2022: $4,046,606). At 30 June 2023, the consolidated entity had $510,217 (2022: $624,962) in cash. The ability of the consolidated entity to continue as a going concern depends on the consolidated entity managing its cash outflow and generating additional cash inflows from: - Generating sufficient revenue in excess of expenses from sales; - The receipt of debt funding; or - The receipt of equity funding Accordingly, there is material uncertainty that may cast doubt on the consolidated entity’s ability to continue as a going concern. No adjustments have been made in relation to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the consolidated entity not continue as a going concern. Given this, the auditors have advised that their audit report is likely to include an emphasis of matter paragraph in relation to the above. - END Authorised for lodgement by the Board of the Company 4 BPH Global Limited (formerly known as Stemcell United Limited) Consolidated Statement of Profit or Loss and Other Comprehensive Income for the Year ended 30 June 2023 2023 $ 2022 $ 339 494,005 Cost of Sales - (466,501) Gross profit 339 27,504 Other revenue and income 37 18,705 (1,307,929) (2,464,543) Professional fees (541,169) (1,386,824) Research expenses (49,922) (156,269) Depreciation and amortisation (19,492) (18,148) Impairment of inventory, receivables and PPEs (156,216) (13,676) (1,010,559) - Marketing and travel (124,333) (173,379) Administrative expenses (327,484) (397,895) (3,536,728) (4,564,525) - - (3,536,728) (4,564,525) (565,166) 1,619,473 (4,101,894) (2,945,052) (44,203) 82,697 (4,146,097) (2,862,355) Revenue Staff costs and directors’ fees Impairment of intangibles Loss before income tax expense Income tax expense Loss for the year from continuing operations (Loss)/Profit from discontinued operation Loss for the year Other comprehensive income Items that may be reclassified to profit or loss: Translation of foreign subsidiary Total comprehensive loss for the year 5 BPH Global Limited (formerly known as Stemcell United Limited) Consolidated Statement of Profit or Loss and Other Comprehensive Income for the Year ended 30 June 2023 (Continued) 2023 $ 2022 $ (4,317,968) (3,690,107) 216,074 745,055 (4,101,894) (2,945,052) Loss attributable to: Owners Non-controlling interest Total comprehensive loss attributable to: Owners - Continuing operations (3,467,771) (4,455,974) - Discontinued operation (845,429) 848,564 (4,313,200) (3,607,410) Non-controlling interest - Continuing operations (15,022) (100,122) - Discontinued operation 182,124 845,177 167,103 745,055 (4,146,097) (2,862,355) Loss per share from continuing operations attributable to owner Basic (cents per share) 3 (0.30) (0.43) Diluted (cents per share) 3 (0.30) (0.43) Basic (cents per share) 3 (0.07) 0.08 Diluted (cents per share) 3 (0.07) 0.08 Basic (cents per share) 3 (0.37) (0.35) Diluted (cents per share) 3 (0.37) (0.35) Loss per share from discontinued operations attributable to owner Loss per share attributable to owner The above Consolidated Statement of Profit or Loss and Other Comprehensive Income should be read in conjunction with the accompanying notes. 6 BPH Global Limited (formerly known as Stemcell United Limited) Consolidated Statement of Financial Position as at 30 June 2023 Note 2023 $ 2022 $ 510,217 624,962 ASSETS CURRENT ASSETS Cash and cash equivalents Trade and other receivables 4 21,508 3,292,479 Other assets 5 97,806 698,219 Inventory 6 - 1,320,933 Investment 15 630,000 - 1,259,531 5,936,593 TOTAL CURRENT ASSETS NON CURRENT ASSETS Plant and equipment 7 633,440 1,006,264 Intangible assets 9 1 1 Right of use assets 8 - 681,660 - 1 633,441 1,687,926 1,892,972 7,624,519 Investment in associate TOTAL NON CURRENT ASSETS TOTAL ASSETS LIABILITIES CURRENT LIABILITIES Trade and other payables 10 1,191,909 1,652,435 Bank loans 11 - 1,089,340 Lease liabilities 8 - 70,495 1,191,909 2,812,270 TOTAL CURRENT LIABILITIES NON CURRENT LIABILITIES Bank loans 11 - 43,400 Lease liabilities 8 - 48,526 - 91,926 1,191,909 2,904,196 701,063 4,720,323 TOTAL NON CURRENT LIABILITIES TOTAL LIABILITIES NET ASSETS 7 BPH Global Limited (formerly known as Stemcell United Limited) Consolidated Statement of Financial Position as at 30 June 2023 (continued) Note 2023 $ 2022 $ Contributed equity 12 78,275,699 76,875,145 Option reserve 13 2,927,462 4,203,993 (80,713,147) (78,119,379) Foreign currency translation reserve 40,120 84,323 EQUITY ATTRIBUTABLE TO SHAREHOLDERS 530,134 3,044,082 Non-controlling interest 170,929 1,676,241 TOTAL EQUITY 701,063 4,720,323 EQUITY Retained earnings The Consolidated Statement of Financial Position should be read in conjunction with the accompanying notes. 8 BPH Global Limited (formerly known as Stemcell United Limited) Consolidated Statement of Changes in Equity for the year ended 30 June 2023 <---Attributable to owners of BP8 Global Ltd---> Foreign currency translation reserve Noncontrolling interest $ $ Total $ Contributed Equity $ Option reserve $ Retained Earnings $ 76,934,855 3,038,435 (74,429,272) 1,626 931,186 6,476,830 (160,350) 84,640 16,000 (59,710) – 1,069,848 95,710 1,165,558 – – – – – – – – – – – – (160,350) 1,154,488 111,710 1,105,848 Total comprehensive loss – – (3,690,107) 82,697 745,055 (2,862,355) Balance at 30 June 2022 76,875,145 4,203,993 (78,119,379) 84,323 1,676,241 4,720,323 1,532,366 (186,812) – 55,000 – 1,400,554 89,640 – 358,029 (1,724,200) (1,276,531) – – – – 1,724,200 1,724,200 – – – – – – – – – – – – 1,622,006 (186,812) 358,029 55,000 – 1,848,223 – – – – – (4,317,968) – (44,203) (1,721,386) 216,074 (1,721,386) (4,146,097) 78,275,699 2,927,462 (80,713,147) 40,120 170,929 701,063 Balance at 30 June 2021 Transactions with equity holders in their own capacity Capital raising costs Shares/options issued to director Shares/options issued to advisors Transactions with equity holders in their own capacity Placements Capital raising costs Fair value of options vested during the year Fair value of shares issued to advisors Cancellation/ Expiry of options Total comprehensive loss Loss of non-controlling interest on disposal of subsidiary Balance at 30 June 2023 The Consolidated Statement of Changes in Equity should be read in conjunction with the accompanying notes. 9 BPH Global Limited (formerly known as Stemcell United Limited) Consolidated Statement of Cash Flows for the year ended 30 June 2023 2023 $ 2022 $ Receipts from customers 4,685,275 12,644,788 Payment to suppliers and employees (6,098,194) (16,646,776) Other income - 17,778 Interest income 37 247 Interest paid (13,757) (56,980) Interest paid on lease liabilities (1,319) (5,663) (1,427,958) (4,046,606) Payment for plant and equipment (58,791) (888,137) Net proceed from disposal of subsidiary 65,082 - Total cash from/(used in) investing activities 6,291 (888,137) Proceeds from issue of shares and other equity securities, net of costs 1,490,194 - Repayment of lease liabilities (22,877) (58,366) Proceeds from borrowings 10,700 1,132,740 Repayment of borrowings (94,517) (793,100) Total cash from financing activities 1,383,500 281,274 Net decrease in cash and cash equivalents (38,168) (4,653,469) Cash and cash equivalents at beginning of financial year 624,962 5,255,274 Foreign currency translation differences (76,577) 23,157 Cash and cash equivalents at end of financial year 510,217 624,962 CASH FLOWS RELATING TO OPERATING ACTIVITIES Total cash used in operating activities CASH FLOWS RELATING TO INVESTING ACTIVITIES CASH FLOWS RELATING TO FINANCING ACTIVITIES The Consolidated Statement of Cash Flows should be read in conjunction with the accompanying notes. 10 BPH Global Limited (formerly known as Stemcell United Limited) Notes to the Financial Statements for the Financial Year Ended 30 June 2023 NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES BASIS OF PREPARATION This preliminary final report has been prepared in accordance with ASX Listing Rule 4.3A and the disclosure requirements of ASX Appendix 4E. The accounting policies have been consistently applied by the entity and are consistent with those disclosed in 30 June 2022 annual financial report and the interim financial report for the half year ended 31 December 2022. NOTE 2: SHARE BASED PAYMENTS Amounts included in Profit or Loss: 30,500,000 options to directors Vested portion of 75,000,000 options to a director Vested portion of 25,000,000 options to an advisor 3,436,723 shares to directors Shares to be issued to directors Shares to be issued to advisor Waiver of accrued shared based payments 2023 $ 2022 $ 262,319 95,710 28,000 (114,000) 272,029 355,020 554,478 95,710 50,000 116,640 50,000 1,221,848 The shares to be issued were valued based upon the value of shares at the date of contract. An expense was recorded for these amounts in relation to services performed. The options were valued based on Black Scholes option pricing model at the date of issue (refer note 12 for more details). 11 BPH Global Limited (formerly known as Stemcell United Limited) Notes to the Financial Statements for the Financial Year Ended 30 June 2023 NOTE 3: LOSS PER SHARE Loss Per Share from continuing operation attributable to owners Loss from continuing operations attributable to owners Basic loss per share (cents per share) Diluted loss per share (cents per share) (Loss)/Earnings Per Share from discontinued operation attributable to owners Earnings from discontinued operation attributable to owners Basic loss per share (cents per share) Diluted loss per share (cents per share) Loss Per Share attributable to owners Loss for the period attributable to owners Basic loss per share (cents per share) Diluted loss per share (cents per share) 2023 $ 2022 $ (3,521,707) (0.30) (0.30) (4,501,463) (0.43) (0.43) (796,261) (0.07) (0.07) 811,356 0.08 0.08 (4,317,968) (0.37) (0.37) (3,690,107) (0.35) (0.35) Number 1,166,687,841 Number 1,047,617,947 308,498,349 289,646,703 1,166,687,841 1,047,617,947 Weighted average number of shares Weighted average number of ordinary shares outstanding during the year used in calculation of basic EPS Weighted average number of options* Weighted average number of ordinary shares outstanding during the year used in calculation of dilutive EPS *Options are considered anti-dilutive as at 30 June 2023 and 30 June 2022 and therefore are not included in the computation of the dilutive EPS NOTE 4: TRADE AND OTHER RECEIVABLES CURRENT Trade receivables Less: allowance for expected credit losses Other receivables 2023 $ 2022 $ - 4,736,003 (1,718,287) 3,017,716 274,763 3,292,479 21,508 21,508 12 BPH Global Limited (formerly known as Stemcell United Limited) Notes to the Financial Statements for the Financial Year Ended 30 June 2023 NOTE 5: OTHER ASSETS CURRENT Prepayments made to suppliers Deposits 2023 $ 2022 $ 96,974 832 97,806 637,617 60,602 698,219 2023 $ 2022 $ - 32,382 1,297,987 (9,436) 1,320,933 NOTE 6: INVENTORY CURRENT Finished goods Biological goods Less provision for stock obsolescence NOTE 7: PLANT AND EQUIPMENT Capital Work in Progress $ TOTAL 159 3,146 (130) 3,016 1,030,882 395,457 55,260 1,481,599 6,360 (1,470,667) (17,292) - 492,680* 492,680 140,759 633,439 1,033,869 888,137 55,419 1,977,425 147,119 (1,470,667) (17,422) 636,455 2,986 159 3,145 (130) 3,015 795,887 126,968 45,161 968,016 82,180 (1,015,963) (34,233) - - 798,873 126,968 45,320 971,161 82,180 (1,015,963) (34,363) 3,015 Carrying amount At 30 June 2022 1 513,583 492,680 1,006,264 At 30 June 2023 1 - 633,439 633,440 Cost At 30 June 2021 Addition during the year Foreign exchange translation At 30 June 2022 Addition during the year Disposal during the year Foreign exchange translation Accumulated depreciation At 30 June 2021 Addition during the year Foreign exchange translation At 30 June 2022 Addition during the year Disposal during the year Foreign exchange translation Office equipment $ Machines 2,987 $ 13 $ BPH Global Limited (formerly known as Stemcell United Limited) Notes to the Financial Statements for the Financial Year Ended 30 June 2023 NOTE 8: RIGHT OF USE ASSETS Amounts recognised in the balance sheet Right-of-use assets – Land Right-of-use assets – Building Accumulated depreciation – Land Accumulated depreciation – Building Right-of-use asset at cost less accumulation depreciation Amounts recognised in profit and loss Depreciation charge of right-of-use assets – Land Depreciation charge of right-of-use assets – Building Interest expenses 2023 $ 2022 $ - 641,236 208,898 (75,629) (92,845) 681,660 13,345 22,890 1,319 39,847 68,350 5,663 The Group leases land and buildings for its offices, warehouses and sales outlets under agreements of between 1 to 23 years with options to extend. The leases have various escalation clauses. On renewal, the terms of the leases are renegotiated. Lease liability shown as: Current Non-current - 14 70,495 48,526 119,021 BPH Global Limited (formerly known as Stemcell United Limited) Notes to the Financial Statements for the Financial Year Ended 30 June 2023 NOTE 9: INTANGIBLE ASSETS Balance of intangible assets at beginning of period Intellectual property acquired Impairment of IP during the period Balance of intangible assets at reporting date 2023 $ 2022 $ 1 1,010,559 (1,010,559) 1 1 1 Intellectual properties In July 2022, the Company (as licensee) and Lantene (as licensor) entered into an intellectual property licence agreement whereby, with effect on and from completion of the Sale of Lantene subsidiary, the Company is granted an exclusive licence for an initial period of 15 years to continue its use and commercialisation of Lantene’s intellectual property, including the patents and software registrations in China covering Sea Grape cultivation techniques and applications developed by Lantene (“IP Licence”). The Company’s rights of exclusivity under the IP Licence are worldwide, with the exception of China. The $1,010,559 intercompany loan previously extended to Lantene in its capacity as a subsidiary of the Company has been treated as the consideration for the licence granted to the Company under the IP Licence. Hence, Lantene has been released from its liability to repay the intercompany loan in consideration for the grant of the exclusive intellectual property licence under the IP Licence. The IP Licence was fully impaired during the period as the Company was unable to quantify the future cash inflows from the patents usage. NOTE 10: TRADE AND OTHER PAYABLES CURRENT Trade payables Other payables Accrued expenses Contract liabilities 15 2023 $ 2022 $ 621 546,335 644,953 1,191,909 368,067 710,035 542,698 31,635 1,652,435 BPH Global Limited (formerly known as Stemcell United Limited) Notes to the Financial Statements for the Financial Year Ended 30 June 2023 NOTE 11: BORROWINGS Bank loans Current Non-current 2023 $ 2022 $ - 1,089,340 43,400 1,132,740 2023 $ 2022 $ 78,275,699 76,875,145 Number of shares A$ 1,043,320,658 5,463,691 1,000,000 1,049,784,349 228,834,321 6,111,111 1,284,729,781 76,934,855 84,640 16,000 (160,350) 76,875,145 1,532,366 55,000 (186,812) 78,275,699 NOTE 12: CONTRIBUTED EQUITY Issued and fully paid ordinary shares Movements in ordinary shares At 30 June 2021 Shares issued to directors Shares issued to advisor Fund raising costs At 30 June 2022 Shares issued via placement Shares issued to placement advisor Capital raising costs At 30 June 2023 Ordinary shares entitle the holder to participate in dividends and the proceeds on the winding up of the company in proportion to the number of and amounts paid on the shares held. The fully paid ordinary shares have no par value. On a show of hands every member present at a meeting in person or by proxy shall have one vote and upon a poll each share shall have one vote. 16 BPH Global Limited (formerly known as Stemcell United Limited) Notes to the Financial Statements for the Financial Year Ended 30 June 2023 NOTE 13: OPTION RESERVE Option Reserve Movements in Option Reserve At 30 June 2021 Vested portion of director options issued in previous year 1 Options issued to directors2 Options issued to directors 3 Options issued to directors 4 Options issued to advisor5 At 30 June 2022 Vested portion of director options issued in previous year 1 Vested portion of advisor options issued in previous year 5 Options issued during placement6 Cancellation of options Expiry of options At 30 June 2023 1 2023 $ 2022 $ 2,927,462 4,203,993 Number of options 246,100,000 30,500,000 5,000,000 5,000,000 25,000,000 311,600,000 27,666,664 (100,500,000) (5,000,000) 233,766,664 $ 3,038,435 554,478 355,020 79,350 81,000 95,710 4,203,993 262,319 95,710 89,640 (1,639,200) (85,000) 2,927,462 On 09 April 2021, 75,000,000 options were issued to a director as approved at the shareholders’ meeting held on 26 March 2021. The options will be vested over 3 tranches of 25,000,000 options each. The 1 st tranche is vested immediately upon issued. The 2nd and 3rd tranche will be vested on the second and third anniversary of the director’s appointment, provided the said director is still a director at the Company at the respective vesting dates. The assessed fair value at grant date of the 1st, 2nd and 3rd tranche options were A$575,000, A$550,000 and A$550,000 respectively. The fair value at grant date is determined using the Black Scholes Model. The amount recognised at 30 June 2021 for the 1st, 2nd and 3rd tranche options were A$575,000, A$90,256 and A$55,579 respectively. The amount recognised for the year ended 30 June 2022 for the 2nd and 3rd tranche options were A$343,162 and A$211,316 respectively. The model inputs for the 1st tranche options granted and vested included: (a) exercise price: A$0.017 (b) grant date: 26 March 2021 (c) vesting date: 09 April 2021 (d) expiry date: 09 April 2026 (e) share price at grant date: A$0.027 (f) expected price volatility of the Company’s shares: 112.5% (g) risk-free interest rate: 0.81% The model inputs for the 2nd tranche options granted included: (a) exercise price: A$0.05 (b) grant date: 26 March 2021 (c) vesting date: 01 November 2022 (d) expiry date: 01 November 2027 (e) share price at grant date: A$0.027 (f) expected price volatility of the Company’s shares: 112.5% (g) risk-free interest rate: 0.81% 17 BPH Global Limited (formerly known as Stemcell United Limited) Notes to the Financial Statements for the Financial Year Ended 30 June 2023 NOTE 13: OPTION RESERVE (continued) The model inputs for the 3rd tranche options granted included: (a) exercise price: A$0.10 (b) grant date: 26 March 2021 (c) vesting date: 01 November 2023 (d) expiry date: 01 November 2028 (e) share price at grant date: A$0.027 (f) expected price volatility of the Company’s shares: 112.5% (g) risk-free interest rate: 0.81% 2 On 28 February 2022, 30,500,000 options were issued to directors as approved at the AGM of 31 January 2022. The assessed fair value at grant date of options issued were A$355,020. The fair value at grant date is determined using the Black Scholes Model. The model inputs for the options granted included: (a) exercise price: A$0.01 (b) grant date: 28 February 2022 (c) expiry date: 28 February 2027 (d) share price at grant date: A$0.014 (e) expected price volatility of the Company’s shares: 112% (f) risk-free interest rate: 1.83% 3 On 28 February 2022, 5,000,000 options were issued to directors for services performed as approved at the AGM of 31 January 2022. The assessed fair value at grant date of options issued were A$79,350. The fair value at grant date is determined using the Black Scholes Model. The model inputs for the options granted included: (a) exercise price: A$0.02 (b) grant date: 28 February 2022 (c) expiry date: 28 February 2027 (d) share price at grant date: A$0.02 (e) expected price volatility of the Company’s shares: 112.5% (f) risk-free interest rate: 0.75% 4 On 28 February 2022, 5,000,000 options were issued to directors for services performed as approved at the AGM of 31 January 2022. The assessed fair value at grant date of options issued were A$81,000. The fair value at grant date is determined using the Black Scholes Model. The model inputs for the options granted included: (a) exercise price: A$0.017 (b) grant date: 28 February 2022 (c) expiry date: 28 February 2027 (d) share price at grant date: A$0.02 (e) expected price volatility of the Company’s shares: 112.5% (f) risk-free interest rate: 0.75% 18 BPH Global Limited (formerly known as Stemcell United Limited) Notes to the Financial Statements for the Financial Year Ended 30 June 2023 NOTE 13: OPTION RESERVE (continued) 5 On 28 February 2022, 25,000,000 options were issued to an advisor as approved at the AGM of 31 January 2022. The options can be exercised at different price of 15,000,000 options at $0.025, 7,500,000 options at $0.05 and 2,500,000 options at $0.075 respectively. 1/5 of the total options are vested immediately upon engagement and subsequently every half yearly another 1/5 will be vested. The assessed fair value at grant date of the 15,000,000, 7,500,000 and 2,500,000 options were A$152,400, A$66,675 and A$20,200 respectively. The fair value at grant date is determined using the Black Scholes Model. The amount recognised at 30 June 2022 for the options were A$95,710. The model inputs for the 15,000,000 options granted at exercise price of A$0.025 included: (a) exercise price: A$0.025 (b) grant date: 28 February 2022 (c) expiry date: 28 February 2025 (d) share price at grant date: A$0.014 (e) expected price volatility of the Company’s shares: 145% (f) risk-free interest rate: 0.28% The model inputs for the 7,500,000 options granted at exercise price of A$0.05 included: (a) exercise price: A$0.05 (b) grant date: 28 February 2022 (c) expiry date: 28 February 2025 (d) share price at grant date: A$0.014 (e) expected price volatility of the Company’s shares: 145% (f) risk-free interest rate: 0.28% The model inputs for the 2,500,000 options granted at exercise price of A$0.075 included: (a) exercise price: A$0.075 (b) grant date: 28 February 2022 (c) expiry date: 28 February 2025 (d) share price at grant date: A$0.014 (e) expected price volatility of the Company’s shares: 145% (f) risk-free interest rate: 0.28% 6 On 01 September 2022, 27,666,664 options were issued to investors as part of the placement. The assessed fair value at grant date of options issued were A$89,640. The fair value at grant date is determined using the Black Scholes Model. The model inputs for the options granted included: (a) exercise price: A$0.018 (b) grant date: 01 September 2022 (c) expiry date: 01 September 2025 (d) share price at grant date: A$0.009 (e) expected price volatility of the Company’s shares: 79% (f) risk-free interest rate: 3.33% 19 BPH Global Limited (formerly known as Stemcell United Limited) Notes to the Financial Statements for the Financial Year Ended 30 June 2023 NOTE 14: SEGMENT INFORMATION The directors have considered the requirements of AASB 8 Operating Segments and the internal reports that are received by the Board in allocating resources and have concluded at this time that there are no separately identifiable segments as the consolidated group operated in one business segment of sourcing, producing, marketing and selling of traditional medicines. The geographical segment information of the group is as follows: 2023 Australia $ Singapore $ Revenue Profit / (Loss) (2,667,448) (756,899) Total assets Total liabilities 1,112,386 (1,032,129) 653,360 (128,466) 2022 Australia $ Singapore $ Revenue Profit / (Loss) (2,889,898) Total assets Total liabilities 444,930 (552,847) Malaysia $ Total $ 339 (88,605) (23,776) 339 (3,536,728) 20,492 (29,532) 106,734 (1,782) 1,892,972 (1,191,909) China $ Malaysia $ Total $ 493,898 (1,270,541) 13,858,672 1,272,893 (57,506) 14,352,570 (2,945,052) 792,505 (151,031) 6,335,956 (2,198,497) 51,128 (1,821) 7,624,519 (2,904,196) 20 China $ BPH Global Limited (formerly known as Stemcell United Limited) Notes to the Financial Statements for the Financial Year Ended 30 June 2023 NOTE 15: LOSS OF CONTROL OF SUBSIDIARY AND DISCONTINUED OPERATION On 29 April 2022, the Group announced its intention to dispose all of its 50.1% interest in subsidiary Shenzhen Lantene Dingzhi Biotechnology Co Ltd (“Lantene”) to existing shareholder Mr Cao Yueming for a consideration of $700,000. On 20 July 2022, the Company signed the Share Sale Agreement documenting the proposed transaction, completion of which was subject to and conditional upon the Group obtaining shareholder approvals. Shareholders approved the disposal at the General Meeting of 19 October 2022. Initial payment of $70,000 was received in the same month, with the remaining to be paid within 6 months from the date the initial payment is made. Consideration receivable is presented as investment in the statement of financial position as subsequent to shareholders’ approval of Share Sale Agreement, the directors of the Company are of the opinion that it neither controls nor exercises significant influence on Lantene. Hence the remaining holdings in Lantene until fully settled is treated as investment at fair value through profit or loss. The transaction price agreed for disposal of Lantene is deemed to be reasonable proximation of its fair value. Financial information relating to Lantene