2013 Apr 15 Annual Report 2012 - Phosphagenics

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Notes to the consolidated fi nancial statements 9. PLANT AND EQUIPMENT 2012 Plant and equipment at cost $’000 Total $’000 Year ended 31 December 2012 At 1 January 2012 net of accumulated depreciation and impairment 1,161 1,161 Additions 139 139 Disposals - - Depreciation charge for the year (266) (266) At 31 December 2012, net of accumulated depreciation and impairment 1,034 1,034 At 31 December 2012 Cost 2,830 2,830 Accumulated depreciation and impairment (1,796) (1,796) Net carrying value 1,034 1,034 92 2011 Plant and equipment at cost $’000 Total $’000 Year ended 31 December 2011 At 1 January 2011 net of accumulated depreciation and impairment 1,298 1,298 Additions 90 90 Capital Work in progress 34 34 Disposals - - Depreciation charge for the year (261) (261) At 31 December 2011, net of accumulated depreciation and impairment 1,161 1,161 At 31 December 2011 Cost 2,690 2,690 Accumulated depreciation and impairment (1,529) (1,529) Net carrying value 1,161 1,161 PHOSPHAGENICS ANNUAL REPORT 2012
Notes to the consolidated fi nancial statements 10. INTANGIBLE ASSETS 2012 Intellectual Property $000 Development costs $000 Total $000 Balance at 1 January 2012 net of accumulated amortisation and impairment 43,255 1,402 44,657 Additions internally developed - - - Provision for impairment - - - Amortisation (4,621) (66) (4,687) Balance at 31 December 2012 net of accumulated amortisation and impairment 38,634 1,336 39,970 At 31 December 2012 Cost (gross carrying amount) 121,362 3,295 124,657 Accumulated amortisation and impairment (82,728) (1,959) (84,687) Net carrying amount 38,634 1,336 39,970 2011 Intellectual Property $000 Development costs $000 Total $000 Balance at 1 January 2011 net of accumulated amortisation and impairment 45,577 1,469 47,046 Additions internally developed - - - Provision for impairment - - - Amortisation (2,322) (67) (2,389) Balance at 31 December 2011 net of accumulated amortisation and impairment 43,255 1,402 44,657 93 At 31 December 2011 Cost (gross carrying amount) 121,362 3,295 124,657 Accumulated amortisation and impairment (78,107) (1,893) (80,000) Net carrying amount 43,255 1,402 44,657 Impairment Testing Intellectual Property Intellectual property assets cost represent the fair value of patents acquired by the Company at 31 December 2004. Certain intellectual property assets, acquired patents, are deemed to have a fi nite life and are amortised from the date signifi cant revenues are earned over the remaining patent life. Up until 30 June 2011 Phosphagenics Limited was yet to earn signifi cant revenues from acquired patent assets, therefore these assets had not yet been amortised. However with signifi cant revenues commencing during the reporting period, amortisation of these patents commenced from 1 July 2011, with an amortisation period ranging from between 8.8 to 12.1 years. These assets are tested for impairment where an indicator of impairment arises. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
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20 12 Annual Report PHOSPHAGENICS P
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highlights March... April... May...
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03 Jonathan Addison Chairman & Inde
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COLLABORATIONS Strategic Collaborat
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The Phosphagenics Evolution THE STO
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“ We also reached agreement with
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Overview of our opioid development
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13 is branded as Butrans or Norspan
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Personal Care ASHLAND INC (FORMERLY
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BEAUTY IS MORE THAN SKIN DEEP 17 EL
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cellulite contour crème BioElixia
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Intellectual Property Title Countri
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2009 2008 2007 2006 6.8 7.8 22.2 23
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DR ESRA OGRU (AGED 37 YEARS) BSC (H
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Senior Management DR PAUL GAVIN Chi
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Phosphagenics Limited ABN 32 056 48
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Directors’ Report Your directors
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Directors’ Report continued Looki
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Directors’ Report continued Commi
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Directors’ Report continued REMUN
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Directors’ Report continued REMUN
Page 43 and 44: Directors’ Report continued Share
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Page 47 and 48: Exercise Price Expiry Date Net othe
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Page 51 and 52: Fair value per performance right at
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Page 55 and 56: Auditors Independence Declaration 5
Page 57 and 58: Corporate Governance Statement cont
Page 67 and 68: Consolidated statement of fi nancia
Page 69 and 70: Consolidated statement of changes i
Page 71 and 72: Notes to the consolidated fi nancia
Page 73 and 74: Application date of standard Impact
Page 93: Notes to the consolidated fi nancia
Page 113 and 114: Independent Auditor’s Report 111
Page 115 and 116: Additional Shareholder Information
Page 117 and 118: Additional Shareholder Information
Page 119: corporate directory Phosphagenics L
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2013 Apr 15 Annual Report 2012 - Phosphagenics

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