Locafy Ltd
For the period ended Jun 30, 2025. Filed Nov 12, 2025.
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The yearly report of a company based outside the US. It covers much of what a 10-K does, and may follow accounting rules other than US ones.
FY2025 · Filed Nov 12, 2025
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 20-F
(Mark One)
| ☐ | REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|
OR
**For the fiscal year ended June 30,2025 **
OR
| ☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 |
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OR
| ☐ | SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
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Date of event requiring this shell company report: ______
**Commission File Number:001-41333 **
(Exact name of Registrant as specified in its charter)
| Not applicable | Australia C3 |
|---|---|
| (Translation of Registrant’s name into English) | (Jurisdiction of incorporation or organization) |
246 Churchill Avenue
Subiaco WA 6008, Australia
+61 409 999 339
(Address of principal executive offices)
Gavin Burnett
246 Churchill Avenue
Subiaco WA 6008, Australia
**Tel: +61 409 999 339 **
(Name, Telephone, Email and/or Facsimile number and Address of Company Contact Person)
Securities registered or to be registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Ordinary Shares, no par value per share | LCFY | The Nasdaq Capital Market |
| Warrants to purchase Ordinary Shares | LCFYW | The Nasdaq Capital Market |
Securities registered or to be registered pursuant to Section 12(g) of the Act: None
Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act: None
Indicate the number of outstanding shares of each of the issuer’s classes of capital or common stock as of the close of the period covered by the annual report:
On June 30, 2025, the issuer had 1,799,055 ordinary shares, no par value per share, outstanding.
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐No ☒
If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. Yes ☐No ☒
Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☒ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer, or an emerging growth company. See definition of “accelerated filer,” “large accelerated filer,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
| Large accelerated filer | ☐ | Accelerated filer | ☐ |
|---|---|---|---|
| Non-accelerated filer | ☒ | Emerging growth company | ☒ |
If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards† provided pursuant to Section 13(a) of the Exchange Act.☐
† The term “new or revised financial accounting standard” refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification after April 5, 2012.
Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☐
If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.☐
Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐
Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing:
| U.S. GAAP | ☐ | International Financial Reporting Standards as issued by the International Accounting Standards Board | ☒ | Other | ☐ |
|---|
If “Other” has been checked in response to the previous question, indicate by check mark which financial statement item the registrant has elected to follow. Item 17 ☐ Item 18 ☐
If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No☒
TABLE OF CONTENTS
| PART I | |||
|---|---|---|---|
| ITEM 1. | IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS | 5 | |
| ITEM 2. | OFFER STATISTICS AND EXPECTED TIMETABLE | 5 | |
| ITEM 3. | KEY INFORMATION | 5 | |
| ITEM 4. | INFORMATION ON THE COMPANY | 29 | |
| ITEM 4A. | UNRESOLVED STAFF COMMENTS | 37 | |
| ITEM 5. | OPERATING AND FINANCIAL REVIEW AND PROSPECTS | 37 | |
| ITEM 6. | DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES | 47 | |
| ITEM 7. | MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS | 56 | |
| ITEM 8. | FINANCIAL INFORMATION | 57 | |
| ITEM 9. | THE OFFER AND LISTING | 58 | |
| ITEM 10. | ADDITIONAL INFORMATION | 59 | |
| ITEM 11. | QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK | 72 | |
| ITEM 12. | DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES | 72 | |
| PART II | |||
| ITEM 13. | DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES | 73 | |
| ITEM 14. | MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS | 73 | |
| ITEM 15. | CONTROLS AND PROCEDURES | 73 | |
| ITEM 16. | [RESERVED] | 74 | |
| ITEM 16A. | AUDIT COMMITTEE FINANCIAL EXPERT | 74 | |
| ITEM 16B. | CODE OF ETHICS | 74 | |
| ITEM 16C. | PRINCIPAL ACCOUNTANT FEES AND SERVICES | 75 | |
| ITEM 16D. | EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES | 75 | |
| ITEM 16E. | PURCHASE OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS | 75 | |
| ITEM 16F. | CHANGE IN REGISTRANT’S CERTIFYING ACCOUNTANT | 76 | |
| ITEM 16G. | CORPORATE GOVERNANCE | 76 | |
| ITEM 16H. | MINE SAFETY DISCLOSURE | 76 | |
| ITEM 16I. | DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS | 76 | |
| ITEM 16J. | INSIDER TRADING POLICIES | 76 | |
| ITEM 16K. | CYBERSECURITY | 76 | |
| PART III | |||
| ITEM 17. | FINANCIAL STATEMENTS | 78 | |
| ITEM 18. | FINANCIAL STATEMENTS | 78 | |
| ITEM 19. | EXHIBITS | 78 | |
| SIGNATURES | 80 | ||
BASIS OF PRESENTATION
Except as otherwise indicated, references in this Annual Report on Form 20-F (“Annual Report”) to “Locafy,” the “Company,” the “Group,” “we,” “us” and “our” refer to Locafy Limited, a company incorporated under the laws of Australia, and its directly owned subsidiary on a consolidated basis.
We express all amounts in this Annual Report in U.S. dollars, except where otherwise indicated. References to “$” and “US$” are to U.S. dollars and references to “A$” are to Australian dollars. Except as otherwise noted, conversions from Australian dollars into U.S. Dollars were made at the rate of A$1.0000 to US$0.6550, which was the daily exchange rate published by the Reserve Bank of Australia on June 30, 2025.
We have made rounding adjustments to some of the figures included in this Annual Report. Accordingly, numerical figures shown as totals in some tables may not be an arithmetic aggregation of the figures that preceded them.
PRESENTATION OF FINANCIAL INFORMATION
We report under IFRS Accounting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). None of the consolidated financial statements were prepared in accordance with generally accepted accounting principles in the United States. We present our consolidated financial statements in Australian dollars.
The consolidated financial statements and accompanying notes thereto for the year ended June 30, 2025, presented in this Annual Report have been audited by BDO Audit Pty Ltd, our independent registered public accounting firm.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This Annual Report contains forward-looking statements that relate to our current expectations and views of future events. These forward-looking statements are contained principally in the sections entitled “Risk Factors”, “Operating and Financial Review and Prospects”, “Business Overview” and “Business”. Forward-looking statements can often be identified by the use of terminology such as “subject to”, “believe,” “anticipate,” “plan,” “expect,” “intend,” “estimate,” “project,” “may,” “will,” “should,” “would,” “could,” “can,” the negatives thereof, variations thereon and similar expressions, or by discussions of strategy. Forward-looking statements are any statements that look to future events and include, but are not limited to, statements regarding our business strategy; trends, opportunities and risks affecting our business, industry and financial results; future expansion or growth plans and potential for future growth; our ability to attract new clients to purchase our solution; our strategy of expanding our business through strategic acquisitions and to integrate such acquisitions with our business and personnel; our ability to retain customer base and induce them to license additional products; our ability to accurately forecast future revenues and appropriately plan our expenses; market acceptance of our solutions; our expectations regarding implementation of remedial measures; our expectations regarding future revenues generated by our solutions; and our ability to attract and retain qualified employees and key personnel.
Forward-looking statements are neither historical facts nor assurances of future performance, and are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following:
| ● | the effect that the restatement of the audited consolidated financial statements as of and for the fiscal year ended June 30, 2024 (the “Prior Financial Statements”), could have on investor confidence in us and raise reputational risk; |
| ● | our expenses, future revenues, capital requirements and our needs for financing; |
| ● | our ability to successfully commercialize, develop, market or sell new products or adopt new technology platforms; |
| ● | the possibility that our customers may not renew maintenance agreements or purchase additional professional services; |
| ● | our ability to attract and retain qualified personnel; |
| ● | our ability to adequately manage our growth; |
| ● | our ability to maintain good relations with our partners; |
| ● | our reliance on relationships with third parties; |
| ● | our ability to adequately protect our intellectual property and proprietary rights; |
| ● | our ability to maintain compliance with continued listing requirements of The Nasdaq Capital Market’s (“Nasdaq”); |
| ● | our ability to compete effectively; |
| ● | the availability of suitable acquisition targets; |
| ● | our ability to maintain effective internal controls; and |
Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. The forward-looking statements contained in this Annual Report represent our expectations as of the date of this Annual Report (or as the date they are otherwise stated to be made) and are subject to change after such date. However, we disclaim any intention or obligation or undertaking to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities laws.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.