Board Change • Nov 06
Less than half of directors are independent There are 4 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. 1 independent director (3 non-independent directors). Independent Non-Executive Director George Venardos is the most experienced director on the board, commencing their role in 2021. They were also the last independent director to join the board. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Reported Earnings • Aug 24
Full year 2022 earnings released: AU$0.012 loss per share (vs AU$0.016 loss in FY 2021) Full year 2022 results: AU$0.012 loss per share. Revenue: AU$3.84m (up 41% from FY 2021). Net loss: AU$5.94m (loss widened 7.2% from FY 2021). Recent Insider Transactions • May 11
Insider recently bought AU$629k worth of stock On the 5th of May, Richard White bought around 11m shares on-market at roughly AU$0.055 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$1.1m more in shares than they have sold in the last 12 months. Board Change • Dec 31
High number of new directors Independent Non-Executive Director George Venardos was the last director to join the board, commencing their role in 2021. Recent Insider Transactions • Nov 13
Insider recently bought AU$69k worth of stock On the 9th of November, Richard White bought around 1m shares on-market at roughly AU$0.065 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$102k more in shares than they have sold in the last 12 months. Executive Departure • Oct 12
Finance Director Dharmendra Patel has left the company On the 1st of October, Dharmendra Patel's tenure as Finance Director ended after 1.4 years in the role. As of June 2021, Dharmendra still personally held only 365.25k shares (AU$15k worth at the time). A total of 5 executives have left over the last 12 months. Executive Departure • Oct 12
Company Secretary William Hundy has left the company On the 1st of October, William Hundy's tenure as Company Secretary ended after 1.5 years in the role. We don't have any record of a personal shareholding under William's name. A total of 5 executives have left over the last 12 months. Board Change • Sep 02
High number of new and inexperienced directors There are 3 new directors who have joined the board in the last 3 years. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. Independent Non-Executive Director Karina Kwan is the most experienced director on the board, commencing their role in 2018. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Sep 02
Full year 2021 earnings released: AU$0.016 loss per share (vs AU$0.022 loss in FY 2020) The company reported a solid full year result with improved revenues and control over costs, although losses increased. Full year 2021 results: Revenue: AU$2.81m (up 17% from FY 2020). Net loss: AU$5.54m (loss widened 13% from FY 2020). Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings. Executive Departure • Aug 20
Senior Compliance Executive & Non-Executive Director Jacqueline Kilgour has left the company On the 18th of August, Jacqueline Kilgour's tenure as Senior Compliance Executive & Non-Executive Director ended after 2.5 years in the role. We don't have any record of a personal shareholding under Jacqueline's name. A total of 3 executives have left over the last 12 months. The current median tenure of the management team is 2.00 years. Executive Departure • Aug 20
Non-Executive Chairman Bernard Higgins has left the company On the 18th of August, Bernard Higgins' tenure as Non-Executive Chairman ended after 3.5 years in the role. As of June 2021, Bernard still personally held 1.00m shares (AU$75k worth at the time). A total of 3 executives have left over the last 12 months. The current median tenure of the management team is 2.00 years.