Board Change • Jun 08
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. 3 non-independent directors. MD, CEO & Director Michele Garra was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. 공지 • May 12
Optima Technology Group Limited announced that it expects to receive AUD 3.22 million in funding Optima Technology Group Limited announced a private placement of 3,220,000 secured convertible notes at a price of AUD 1 per note for aggregate gross proceeds of AUD 3,220,000 on May 12, 2023. The transaction included participation from certain existing and new sophisticated and professional investors, as well as certain directors. The transaction will be completed in two tranche. The company will issue notes of AUD 300,000 in tranche 1. Tranche 1 is expected to close over the week commencing 15 May 2023. The company will issue maximum of 2,920,000 notes for AUD 2,920,000. The notes will bear fixed interest of 10%. The notes will mature after 18 months of issuance. The notes will be convertible at a price of AUD 0.018 per share. The notes will be non transferable. The Company will hold an Extraordinary General Meeting to approve the Convertible Note Issue. Board Change • Apr 04
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. 3 non-independent directors. MD, CEO & Director Michele Garra was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Mar 10
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. 4 non-independent directors. Non-Executive Director Shane Gild 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. Board Change • Feb 03
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Geoff Kleemann was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Board Change • Nov 22
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Geoff Kleemann was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Aug 31
Full year 2022 earnings released: AU$0.059 loss per share (vs AU$0.081 loss in FY 2021) Full year 2022 results: AU$0.059 loss per share (up from AU$0.081 loss in FY 2021). Revenue: AU$15.9m (up 8.0% from FY 2021). Net loss: AU$10.3m (loss narrowed 15% from FY 2021). Over the next year, revenue is forecast to grow 5.3%, compared to a 50% growth forecast for the Software industry in Australia. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 52% per year, which means it is performing significantly worse than earnings. Board Change • Apr 27
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. Independent Non-Executive Director Leanne Graham is the most experienced director on the board, commencing their role in 2016. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Board Change • Dec 18
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. Independent Non-Executive Director Leanne Graham is the most experienced director on the board, commencing their role in 2016. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Executive Departure • Dec 03
Chief Operating Officer Marco Miranda has left the company On the 3rd of December, Marco Miranda was replaced as CEO by Michele Garra after less than a year in the role. We don't have any record of a personal shareholding under Marco's name. A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 1.04 years, which is considered inexperienced in the Simply Wall St Risk Model. Under Marco's leadership, the company delivered a total shareholder return of -12%. Executive Departure • Oct 10
MD & Executive Director Guy Maine has left the company On the 30th of September, Guy Maine's tenure as MD & Executive Director of the company ended after 3.7 years in the role. As of June 2021, Guy still personally held 208.03k shares (AU$108k worth at the time). Guy is the only executive to leave the company over the last 12 months. The current median tenure of the management team is less than a year, which is considered inexperienced in the Simply Wall St Risk Model. Under Guy's leadership, the company delivered a total shareholder return of 150%. Reported Earnings • Sep 02
Full year 2021 earnings released: AU$0.081 loss per share (vs AU$0.055 loss in FY 2020) The company reported a mediocre full year result with increased losses and weaker control over costs, although revenues improved. Full year 2021 results: Revenue: AU$14.7m (up 57% from FY 2020). Net loss: AU$12.1m (loss widened 76% from FY 2020). Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has fallen by 25% per year, which means it is performing significantly worse than earnings. Breakeven Date Change • Jul 31
Forecast breakeven pushed back to 2023 The analyst covering Bill Identity previously expected the company to break even in 2022. New forecast suggests losses will reduce by 15% per year to 2022. The company is expected to make a profit of AU$1.50m in 2023. Average annual earnings growth of 66% is required to achieve expected profit on schedule. Recent Insider Transactions • Apr 25
Independent Non-Executive Director recently bought AU$101k worth of stock On the 22nd of April, David Hancock bought around 135k shares on-market at roughly AU$0.74 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold AU$461k more in shares than they bought in the last 12 months. Recent Insider Transactions • Mar 25
MD & Executive Director recently sold AU$602k worth of stock On the 23rd of March, Guy Maine sold around 700k shares on-market at roughly AU$0.86 per share. This was the largest sale by an insider in the last 3 months. Guy has been a seller over the last 12 months, reducing personal holdings by AU$582k. Reported Earnings • Mar 02
First half 2021 earnings released: AU$0.032 loss per share (vs AU$0.034 loss in 1H 2020) The company reported a solid first half result with improved revenues and control over costs, although losses increased. First half 2021 results: Revenue: AU$6.77m (up 60% from 1H 2020). Net loss: AU$4.33m (loss widened 4.3% from 1H 2020). Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 96% per year, which means it is tracking significantly ahead of earnings growth. Is New 90 Day High Low • Feb 23
New 90-day low: AU$1.02 The company is down 13% from its price of AU$1.17 on 25 November 2020. The Australian market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is down 5.0% over the same period. Is New 90 Day High Low • Sep 30
New 90-day high: AU$1.12 The company is up 54% from its price of AU$0.72 on 02 July 2020. The Australian market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is up 20% over the same period.