Announcement • Oct 29
Kalina Power Limited, Annual General Meeting, Nov 28, 2025 Kalina Power Limited, Annual General Meeting, Nov 28, 2025. New Risk • Aug 29
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$3.5m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$3.5m free cash flow). Share price has been highly volatile over the past 3 months (31% average weekly change). Negative equity (-AU$3.4m). Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (18% increase in shares outstanding). Market cap is less than US$100m (AU$32.3m market cap, or US$21.1m). Announcement • May 07
Kalina Power Limited has completed a Follow-on Equity Offering in the amount of AUD 0.043808 million. Kalina Power Limited has completed a Follow-on Equity Offering in the amount of AUD 0.043808 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 5,475,966
Price\Range: AUD 0.008
Discount Per Security: AUD 0.00008
Security Features: Attached Options
Transaction Features: Rights Offering New Risk • Apr 22
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 31% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (25% average weekly change). Negative equity (-AU$2.7m). Shareholders have been substantially diluted in the past year (31% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (AU$17.3m market cap, or US$11.1m). New Risk • Apr 07
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$13.7m (US$8.28m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (24% average weekly change). Negative equity (-AU$2.7m). Revenue is less than US$1m. Market cap is less than US$10m (AU$13.7m market cap, or US$8.28m). Minor Risk Shareholders have been diluted in the past year (24% increase in shares outstanding). New Risk • Mar 02
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$3.4m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$3.4m free cash flow). Share price has been highly volatile over the past 3 months (17% average weekly change). Negative equity (-AU$2.7m). Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (24% increase in shares outstanding). Market cap is less than US$100m (AU$24.7m market cap, or US$15.3m). New Risk • Feb 11
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Negative equity (-AU$2.7m). Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (24% increase in shares outstanding). Market cap is less than US$100m (AU$27.4m market cap, or US$17.2m). Announcement • Oct 31
Kalina Power Limited, Annual General Meeting, Nov 29, 2024 Kalina Power Limited, Annual General Meeting, Nov 29, 2024. New Risk • Aug 29
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$3.9m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$3.9m free cash flow). Share price has been highly volatile over the past 3 months (56% average weekly change). Negative equity (-AU$2.7m). Shareholders have been substantially diluted in the past year (64% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (AU$19.9m market cap, or US$13.5m). New Risk • May 08
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 64% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (40% average weekly change). Negative equity (-AU$2.1m). Earnings have declined by 0.6% per year over the past 5 years. Shareholders have been substantially diluted in the past year (64% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$9.95m market cap, or US$6.54m). Announcement • Mar 23
Kalina Power Limited has filed a Follow-on Equity Offering in the amount of AUD 1.105064 million. Kalina Power Limited has filed a Follow-on Equity Offering in the amount of AUD 1.105064 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 276,266,001
Price\Range: AUD 0.004
Discount Per Security: AUD 0.00004
Transaction Features: Rights Offering New Risk • Mar 01
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$4.5m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$4.5m free cash flow). Share price has been highly volatile over the past 3 months (38% average weekly change). Negative equity (-AU$2.1m). Earnings have declined by 0.6% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (AU$11.1m market cap, or US$7.18m). Minor Risk Shareholders have been diluted in the past year (46% increase in shares outstanding). New Risk • Dec 06
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 13% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (30% average weekly change). Negative equity (-AU$2.4m). Earnings have declined by 2.8% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (AU$8.58m market cap, or US$5.64m). Minor Risk Shareholders have been diluted in the past year (13% increase in shares outstanding). Announcement • Nov 09
Kalina Power Limited has filed a Follow-on Equity Offering in the amount of AUD 2.020261 million. Kalina Power Limited has filed a Follow-on Equity Offering in the amount of AUD 2.020261 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 505,065,262
Price\Range: AUD 0.004
Discount Per Security: AUD 0.00024
Transaction Features: Rights Offering Announcement • Sep 02
Kalina Power Limited, Annual General Meeting, Oct 23, 2023 Kalina Power Limited, Annual General Meeting, Oct 23, 2023, at 10:00 AUS Eastern Standard Time. Agenda: To consider directorate elections. New Risk • Sep 01
New major risk - Negative shareholders equity The company has negative equity. Total equity: -AU$2.4m This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (21% average weekly change). Negative equity (-AU$2.4m). Earnings have declined by 2.8% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (AU$15.2m market cap, or US$9.82m). New Risk • Aug 31
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (22% average weekly change). Earnings have declined by 1.2% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (AU$15.2m market cap, or US$9.82m). Minor Risk Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Announcement • Aug 08
Kalina Power Limited announced that it expects to receive AUD 0.625 million in funding Kalina Power Limited announced a private placement to issue 10% unsecured convertible notes for the gross proceeds of AUD 625,000 on August 7, 2023. The transaction included participation from Existing Shareholders, Directors and Management. The directors and management contributed for AUD 200,000.The notes bear 10% coupon rate and matures on 30 July 2024.The Convertible Notes will be converted on the following price at Conversion Price of AUD 0.826 and 85% of the offer price of securities in the Company’s next capital raise. The Convertible Notes will be automatically converted into shares upon completing a capital raise of at least AUD 1,000,000. The Convertible Notes cannot be transferred except with the Company’s prior written approval. The issue of Convertible Notes to Directors or any related party will be subject to shareholder approval. New Risk • Jun 09
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 16% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$4.8m free cash flow). Share price has been highly volatile over the past 3 months (16% average weekly change). Earnings have declined by 1.2% per year over the past 5 years. Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (AU$15.2m market cap, or US$10.2m). Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 6 non-independent directors. Non-Executive Chairman Stephen White was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Sep 01
Kalina Power Limited Announces Appointment of Stephen White as Director Kalina Power Limited announced appointment of Stephen White as Director . Date of appointment is 1 September 2022. Announcement • Aug 30
Kalina Power Limited, Annual General Meeting, Oct 21, 2022 Kalina Power Limited, Annual General Meeting, Oct 21, 2022, at 10:00 AUS Eastern Standard Time. Announcement • Jun 15
Kalina Power Limited Receives Environmental Permit from Alberta Environment and Parks for its Kalina Energy Centre Saddle Hills Project Kalina Power Limited reported that its KALiNA Energy Centre Saddle Hills project has been granted approval under the Environmental Protection and Enhancement Act ("EPEA Approval") from Alberta Environment & Parks. The EPEA Approval has been granted for a 64MW gas-fired combined cycle facility to be equipped with dry-low NOx emission controls and utilizing the KALiNA Cycle® technology. The permit allows for a wide range of operating scenarios to ensure the facility can respond to electricity market conditions while also meeting stringent environmental requirements. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. No independent directors (5 non-independent directors). Non-Executive Director Peter Littlewood was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Announcement • Jun 15
Kalina Power Limited Provides Regular Monthly Update on Development of Its 64Mw Primary Site KALiNA Power Limited ("KALiNA" or the "Company") provided this regular monthly update on development of its 64MW Primary Site; the KALiNA Energy Centre - Saddle Hills ("Saddle Hills"), located in the County of Saddle Hills, Alberta, Canada. KPO's Canadian subsidiary, KALiNA Distributed Power Limited ("KDP") continues to complete key project development milestones to advance Saddle Hills to Full Notice to Proceed (FNTP) in Q4-2021. Crown Lease secured: KALiNA Energy Centre - Saddle Hills: KDP has secured a Crown Lease with the Government of Alberta for its Primary Site. Commercial Gas Supply Arrangements: Negotiations continue with multiple counterparties for long-term gas to power tolling agreements. KDP has also recently engaged in negotiations to secure lower cost gas that can reduce gas pricing volatility through a direct supply program. Engineering Procurement Fabrication& Construction: o Turnkey, fixed price contracting underway with no material issues identified. o Gas turbine: Constructability Review completed with no material issues identified. Formal definitive agreements underway with no material issues identified. o Kalina Cycle® module and balance of plant: Hazard & Operability Analysis: ("HAZOP") - no material issues identified. Preferred vendors on major equipment selected after competitive bidding. Permitting and Environmental: o Modest delay with no material issues identified. o Based on the final vendor selection of certain major equipment, KDP is required to update modifications to the plot plan and the filing of technical noise and air emissions studies for its final Alberta Utilities Commission ("AUC") Rule 007 regulatory application. The filing was anticipated by middle of June and is now expected in July. o KDP has also notified appropriate stakeholders regarding the project status in accordance with the AUC's Rule 007. No issues have been raised during the notice period. o The AUC Rule 007 approval is the final major approval required to construct and operate the facility. Electrical Interconnection: o On schedule, no material concerns identified .o ATCO and AESO are completing studies for Saddle Hills in order to provide final cost estimates to contract for interconnection. Announcement • May 21
KALiNA Power Limited Provides Project Update on KALiNA Energy Centre - Saddle Hills KALiNA Power Limited provided an update on development of its Flagship 64MW Primary Site; the KALiNA Energy Centre - Saddle Hills located in Alberta, Canada KALiNA Distributed Power Limited recently completed several development milestones to advance Saddle Hills to Full Notice to Proceed (FNTP) in Q4-2021. These include: Crown Lease secured: As recently reported, achieving formal site control for Saddle Hills with the receipt of a Crown Lease from the Government of Alberta. Gas tolling to power: Engaged with multiple counterparties in formal proposals and negotiations regarding the potential for long-term tolling arrangements to provide gas to power conversion services. EPC progress: Engineering and procurement activities have continued to make very solid progress: Completed a Constructability Review for the gas turbine with no material issues identified. Completed a Hazard & Operability Analysis ("HAZOP") of the Kalina Cycle® module and alance of plant. The HAZOP is a rigorous and systematic technique used to assess potential hazards and operability problems associated with the design. No material issues were identified during the review. Competitive bidding process for all major equipment is well advanced, with the review process nearly complete. Final selections and awards are expected soon. he electric utility has advised that it has nearly completed its grid interconnection study, hich will result in a formal confirmation of costs and schedule for interconnection of the Saddle Hills project. Permitting: In accordance with the Alberta Utilities Commission's ("AUC") Rule 007 (as part of its articipant involvement program) KDP has notified appropriate stakeholders regarding the project tatus. This is the final step before KPO can submit its formal application in June to the AUC for pproval to construct and operate the Saddle Hills project. Announcement • Jan 29
KALiNA Power Limited Scaling Up Project Scope and Securing More Sites in Alberta KALiNA Power Limited provided an update on the progress in developing its energy efficient power projects in Alberta. In the second half of 2020, KALiNA's Canadian subsidiary, Kalina Distributed Power Limited ("KDP") made tremendous progress across a broad range of important achievements and is currently finalizing a number of milestones it expects to announce in the coming month. To date, project locations have been selected with existing grid infrastructure that can each accommodate a 30 MW plant. Each 30 MW plant is to be configured with a 20 MW advanced gas turbine and a KALiNA Cycle® waste heat recovery module that can generate 10 MW of zero-emissions power from the gas turbine's waste heat. The extra 50% of "emissions-free" power generated by a 10 MW KALiNA Cycle module represents the CO2 equivalent offset of approximately 40,000 tonnes per year. KDP currently has site control established at two separate 30 MW locations. In the last six months KDP has identified additional locations that can each accommodate two, 30 MW KALiNA combined cycle power plants. These new, 60 MW locations will materially improve project returns through greater synergies, cost reductions and contracting efficiencies. KDP has conducted an extensive process to secure a 60 MW location and expects to announce once the formal process is complete. With this new 60 MW location secured, KDP will have 3 locations under site control, representing a total generating capacity of 120 MW, derived from four 30 MW plants. KDP is engaged in detailed negotiations with several gas suppliers and industrial partners looking to toll their gas to power and effectively price their gas to a power index. This can be achieved through a 15 - 20 year tolling fee paid by the gas producer for the use of the KDP plant to process their gas into power at market prices. One of the important criteria has been to have sufficient power generating capacity to require volumes of gas that are meaningful or strategically relevant. As part of the 30 MW plant configuration, each 20 MW gas turbine requires approximately 5 million standard cubic feet per day of gas. The tolling agreements being negotiated for 120 MW of generating capacity will require roughly 20 million standard cubic feet per day of gas, which has shown to be a meaningful volume. KDP has invested considerably in developing each of the three locations referenced above, in order that each can become part of the tolling pool. KDP's regulatory and permitting plan is also being thoroughly executed and includes the following scope: Utility Interconnection, Gas Interconnection, Permitting, Environmental, Regulatory rulings on tariffs, cost sharing and pricing decisions, Utility Commission filings and all other customary requirements. Major progress has also been achieved with engineering, modularization, cost estimating and selection of major equipment vendors. As each of these achievements become formally documented in the weeks and months ahead, the Company will be making appropriate announcements to advise on the respective achievements. The overall scope of the program has increased and led to more work, which is expected to add a further 4 months to achieve FNTP than previously anticipated. Announcement • Sep 02
Kalina Power Limited has completed a Follow-on Equity Offering in the amount of AUD 6.837779 million. Kalina Power Limited has completed a Follow-on Equity Offering in the amount of AUD 6.837779 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 273,511,169
Price\Range: AUD 0.025
Discount Per Security: AUD 0.00175
Transaction Features: Rights Offering Announcement • Jul 08
Kalina Power Limited announced that it expects to receive AUD 8 million in funding from Long State Investments Limited Kalina Power Limited (ASX:KPO) announced that it has entered into a private placement for the equity facility of AUD 8 million on July 7, 2020. The transaction will include participation from Long State Investments Limited. The company will receive the funding in tranches of AUD 400,000, which may be increased to up to AUD 800,000 over the period of next 24 months. The company will issue shares at 95% of the average of the daily volume weighted average price on five days nominated by investor during the 20 trading days following submission of a placement notice by the company to the investor, provided that this price cannot be lower than the minimum acceptable price stipulated by company in the placement notice. The company will pay AUD 40,000 as implementation fee. The company will issue 600,000 options exercisable on or before 3 years from the date of issue exercisable at 150% of the average of the 20 daily VWAPs for the 20 trading days immediately prior to the date of which the relevant options are required to be issued. The company is required to issue further options to investor for a further 600,000 ordinary shares when the facility is first utilised and additional tranches of 600,000 options if the total drawn down amount under the facility reaches the level of AUD 2 million, AUD 4 million and AUD 6 million respectively. 