ANNUAL REPORT 2011 P ARENT 2011  2010 $  $ 30. PARENT ENTITY DISCLOSURES Statement of financial position  Assets  Current assets  16,932,332  114,491,348 Non-current assets  277,362,638  227,004,969 Total assets  294,294,970  341,496,317 Liabilities Current liabilities  1,016,394  782,818 Non-current liabilities  -  - Total liabilities  1,016,394  782,818 Equity  Issued capital  355,759,201  346,615,812 Retained earnings (78,506,694)  (16,509,236) Reserves - - Share-based payments  16,026,069  10,606,923 Total equity 293,278,576  340,713,499 Loss for the year  (61,997,459)  (6,139,594) Other comprehensive income  -  - Total comprehensive income (61,997,459)  (6,139,594) Contingent liabilities of the parent entity:  There were no contingent liabilities of the parent entity at 30 June 2011. Commitments for the acquisition of property, plant and  equipment by the parent entity:  Plant and equipment  Not longer than 1 year  -  - Longer than 1 year and not longer than 5 years  -  - Longer than 5 years -  - Guarantees entered into by the parent entity See note 16 for details of guarantees the parent entity has given. 85