Immuron Ltd. Files 2024 Annual Report

TL;DR

Immuron Ltd. filed its 2024 20-F, check financials.

AI Summary

Immuron Ltd. filed its annual report on Form 20-F for the fiscal year ended June 30, 2024. The company, incorporated in C3 and headquartered in Carlton, Victoria, Australia, operates in the pharmaceutical preparations sector. Its primary business address is 62 Lygon Street, Level 3, Carlton, Victoria, 3053.

Why It Matters

This filing provides investors and stakeholders with a comprehensive overview of Immuron Ltd.'s financial performance and business operations for the past fiscal year, crucial for investment decisions.

Risk Assessment

Risk Level: medium — As a pharmaceutical company, Immuron Ltd. faces inherent risks related to drug development, regulatory approvals, and market competition.

Key Numbers

• 20240630 — Fiscal Year End (The report covers the period up to this date.)
• 001-38104 — SEC File Number (Identifies the company's filing with the SEC.)

Key Players & Entities

• Immuron Ltd (company) — Registrant
• June 30, 2024 (date) — Fiscal Year End
• 62 Lygon Street, Level 3, Carlton, Victoria, 3053 (address) — Business and Mail Address
• 001-38104 (company) — SEC File Number

FAQ

Key Financial Figures

• $6,936,957 — 994 and we have reported net losses of A$6,936,957, A$3,786,507 and A$2,854,254 during the
• $3,786,507 — ve reported net losses of A$6,936,957, A$3,786,507 and A$2,854,254 during the fiscal years
• $2,854,254 — losses of A$6,936,957, A$3,786,507 and A$2,854,254 during the fiscal years ended June 30,
• $78,968,396 — 30, 2024, our accumulated deficit was A$78,968,396. We may continue to incur additional op
• $11,657,315 — opments. As of June 30, 2024, we had A$11,657,315 in cash and cash equivalents. Developin

Filing Documents

• ea0215080-20f_immuron.htm (20-F) — 3350KB
• ea021508001ex2d_immuron.htm (EX-2.D) — 49KB
• ea021508001ex4-6_immuron.htm (EX-4.6) — 99KB
• ea021508001ex12-1_immuron.htm (EX-12.1) — 10KB
• ea021508001ex12-2_immuron.htm (EX-12.2) — 10KB
• ea021508001ex13-1_immuron.htm (EX-13.1) — 4KB
• ea021508001ex13-2_immuron.htm (EX-13.2) — 4KB
• ea021508001ex23-1_immuron.htm (EX-23.1) — 2KB
• ea021508001ex23-2_immuron.htm (EX-23.2) — 1KB
• ea021508001ex23-3_immuron.htm (EX-23.3) — 2KB
• ea021508001ex97-1_immuron.htm (EX-97.1) — 30KB
• image_001.jpg (GRAPHIC) — 35KB
• image_002.jpg (GRAPHIC) — 26KB
• image_003.jpg (GRAPHIC) — 6KB
• image_004.jpg (GRAPHIC) — 6KB
• image_005.jpg (GRAPHIC) — 6KB
• image_006.jpg (GRAPHIC) — 7KB
• image_007.jpg (GRAPHIC) — 6KB
• 0001213900-24-083654.txt ( ) — 14366KB
• imrn-20240630.xsd (EX-101.SCH) — 132KB
• imrn-20240630_cal.xml (EX-101.CAL) — 67KB
• imrn-20240630_def.xml (EX-101.DEF) — 434KB
• imrn-20240630_lab.xml (EX-101.LAB) — 844KB
• imrn-20240630_pre.xml (EX-101.PRE) — 458KB
• ea0215080-20f_immuron_htm.xml (XML) — 3051KB

financial statements are presented in Australian dollar ("A$" or "$"), which is Immuron Limited's functional

financial statements are presented in Australian dollar ("A$" or "$"), which is Immuron Limited's functional and presentation currency. Unless otherwise indicated or the context implies otherwise all references to "we," "us," or "our" refers to Immuron Limited, an Australian corporation. made in this annual report concerning the contents of any contract, agreement or other document are summaries of such contracts, agreements or documents and are not complete descriptions of all of their terms. If we filed any of these documents as an exhibit to this annual report or to any registration statement or annual report that we previously filed, you may read the document itself for a complete description of its terms. Except for the historical information contained in this annual report, the statements contained in this annual report are "forward-looking Act of 1934, as amended, or the Exchange Act, and the Private Securities Litigation Reform Act of 1995, as amended, with respect to our business, financial condition and results of operations. Such forward-looking statements reflect our current view with respect to future events and financial results. We urge you to consider that statements which use the terms "anticipate," "believe," "expect," "plan," "intend," "estimate," or the negative of these terms or other comparable terminology. are intended to identify forward-looking statements. We remind readers that forward-looking statements are merely predictions and therefore inherently subject to uncertainties and other factors and involve known and unknown risks that could cause the actual results, performance, levels of activity, or our achievements, or industry results, to be materially different from any future results, performance, levels of activity, or our achievements expressed or implied by such forward-looking statements

Risk Factors

Risk Factors 1 ITEM 4. INFORMATION ON THE COMPANY 23 A. History and Development of the Company 23 B. Business Overview 24 C. Organizational Structure 41 D. Property, Plant and Equipment 42 ITEM 4A. UNRESOLVED STAFF COMMENTS 42 ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS 42 A. Operating Results 42 B. Liquidity and Capital Resources 48 C. Research and Development, Patents and Licenses 51 D. Trend Information 52 E Critical Accounting Estimates 52 ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES 53 A. Directors and Senior Management 53 B. Compensation 55 C. Board Practices 66 D. Employees 68 E. Share Ownership 68 F. Disclosure of a Registrant's Action to Recover Erroneously Awarded Compensation 68 ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS 69 A. Major Shareholders 69 B. Related Party Transactions 69 C. Interests of Experts and Counsel 70 ITEM 8. FINANCIAL INFORMATION 71 A.

Financial Statements and Other Financial Information

Financial Statements and Other Financial Information 71 B. Significant Changes 71 ITEM 9. THE OFFER AND LISTING 71 A. Offer and Listing Details 71 B. Plan of Distribution 71 C. Markets 71 D. Selling Shareholders 71 E.

Dilution

Dilution 71 F. Expenses of the Issue 71 ITEM 10. ADDITIONAL INFORMATION 72 A. Share Capital 72 B. Memorandum and Articles of Association 72 C. Material Contracts 76 D. Exchange Controls 76 E. Taxation 77 F. Dividends and Paying Agents 82 G. 82 H. Documents on Display 82 I. Subsidiary Information 83 J. Annual Report to Security Holders 83 i ITEM 11. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 83 ITEM 12.

DESCRIPTION OF SECURITIES

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 83 A. Debt Securities 83 B. Warrants and Rights 83 C. Other Securities 83 D. American Depositary Shares 84 PART II 85 ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES 85 ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS 85 ITEM 15.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 85 A. Disclosure Controls and Procedures 85 B. Management's Report on Internal Control over Financial Reporting 85 C. Attestation Report of the Registered Public Accounting Firm 86 D. Changes in Internal Control over Financial Reporting 86 ITEM 16. RESERVED 86 ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT 86 ITEM 16B. CODE OF ETHICS 86 ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES 86 ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES 87 ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS 87 ITEM 16F. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT 87 ITEM 16G. CORPORATE GOVERNANCE 87 ITEM 16H. MINE SAFETY DISCLOSURE 88 ITEM 16I. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 88 ITEM 16J. INSIDER TRADING POLICIES 88 ITEM 16K. CYBERSECURITY 88 PART III 89 ITEM 17.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 89 ITEM 18.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 89 ITEM 19. EXHIBITS 90 SIGNATURE 91 ii PART I ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS Not applicable. ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE Not applicable. ITEM 3. KEY INFORMATION A. [RESERVED] B. Capitalization and Indebtedness Not applicable. C. Reasons for the Offer and Use of Proceeds Not applicable. D.

Risk Factors

Risk Factors Investing in our ADSs involves a high degree of risk and uncertainty. You should carefully consider the risks and uncertainties described below before investing in our ADSs. Additional risks and uncertainties not presently known to us or that we believe to be immaterial may also adversely affect our business. If any of the following risks actually occurs, our business, prospects, financial condition and results of operations could be harmed. In that case, the price of our ADSs could decline, and you could lose all or part of your investment. Summary of Risk Factors The following summarizes some, but not all, of the risks provided below. Please carefully consider all of the information discussed in this

D. "Risk Factors" in this annual report for a more thorough description of these and other risks

Item 3.D. "Risk Factors" in this annual report for a more thorough description of these and other risks: Summary of Risks Related to Our Financial Condition As a company undertaking research and development activities of our existing patent portfolio we have incurred operating losses; we may continue to incur operating losses for the foreseeable future and may never achieve or maintain profitability. Summary of Risks Related to Our Business Clinical trials are expensive and time consuming, and their outcome is uncertain. We may not be successful in obtaining or maintaining other rights necessary for the development of our pipeline through acquisitions and in- licenses. We grant licenses to our collaborators to use our hyper-immune colostrum technology exclusively for the development of product candidates for certain conditions. We may not be able to complete the development of IMM-124E, CampETEC, IMM-529 or develop other pharmaceutical products. Our research and development efforts will be seriously jeopardized if we are unable to retain key personnel and cultivate key academic and scientific collaborations. Acceptance of our products in the marketplace is uncertain, and failure to achieve market acceptance will negatively impact our business and operations. We face competition from entities that have developed or may develop product candidates for our target disease indications, including companies developing novel treatments and technology platforms based on modalities and technology similar to ours. If these companies develop technologies or product candidates more rapidly than we do or their technologies, including delivery technologies, are more effective, our ability to develop and successfully commercialize product candidates may be compromised. Our product candidates and the process for administering our product candidates may cause undesirable side effects or have other properties that could delay or prevent their regulatory approval,

View Full Filing

View this 20-F filing on SEC EDGAR