Icon Energy Limited Annual Report 2017

ICON ENERGY LIMITED AND ITS CONTROLLED ENTITIES FOR THE YEAR ENDED 30 JUNE 2017 NOTES 30 June 2017 30 June 2016 $ $ - 524,140 Interest received and other income 311,210 470,414 Administration expenses (2,525,271) (2,974,460) Depreciation and amortisation expense (307,509) (272,576) Employee benefits and expenses (1,386,270) (1,384,239) Occupancy expenses (43,278) (40,425) Profit/(Loss) on sale of property, plant and equipment 1,339 15 Profit/(Loss) on acquisition of tenement (226,023) - Impairment of exploration and evaluation expenditure 8 (1,481,000) (1,903,623) Finance costs (13,292) (21,475) Profit/(Loss) before income tax (5,670,094) (5,602,229) Income tax expense 2 - - Net Profit/(Loss) for the year from continuing operations (5,670,094) (5,602,229) Other comprehensive income Items that will be reclassified to profit and loss (200) 501 Other comprehensive income for the year, net of tax (200) 501 Total comprehensive income for the year (5,670,295) (5,601,728) Net Profit/(Loss) for the year attributable to: Owners of the parent entity (5,670,094) (5,602,229) Non-controlling interests - - Net Profit/(Loss) for the year (5,670,094) (5,602,229) Total comprehensive income for the year attributable to: Owners of the parent entity (5,670,295) (5,601,728) Non-controlling interests - - Total comprehensive income for the year (5,670,295) (5,601,728) Earnings per share 14 (0.95) (0.93) 14 (0.95) (0.93) The accompanying notes form part of these financial statements. CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME Continuing operations Income from research and development claim Diluted earnings/(loss) per share (cents per share) Exchange differences arising on translation of foreign operations Basic earnings/(loss) per share (cents per share) From continuing operations CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME for the year ended 30 June 2017 FINANCIAL REPORT 40 ICON ENERGY ANNUAL REPORT 2017