Board Change • May 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 1 highly experienced director. Non-Executive Independent Director Phil Marsland was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Dec 24
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 1 highly experienced director. Non-Executive Independent Director Phil Marsland was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Dec 09
Norwood Systems Limited has completed a Follow-on Equity Offering in the amount of AUD 0.65 million. Norwood Systems Limited has completed a Follow-on Equity Offering in the amount of AUD 0.65 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 50,000,000
Price\Range: AUD 0.013
Discount Per Security: AUD 0.00078
Transaction Features: Subsequent Direct Listing Announcement • Oct 31
Norwood Systems Limited, Annual General Meeting, Nov 28, 2025 Norwood Systems Limited, Annual General Meeting, Nov 28, 2025. Location: at 4 leura street nedlands, wa 6009 Australia Reported Earnings • Aug 31
Full year 2025 earnings released: AU$0.001 loss per share (vs AU$0.006 loss in FY 2024) Full year 2025 results: AU$0.001 loss per share (improved from AU$0.006 loss in FY 2024). Revenue: AU$3.39m (up 196% from FY 2024). Net loss: AU$599.7k (loss narrowed 77% from FY 2024). Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 6% per year. Board Change • Aug 18
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 1 highly experienced director. Independent Non-Executive Chairman of the Board John Tarrant was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • May 16
Norwood Systems Limited has completed a Follow-on Equity Offering in the amount of AUD 0.5 million. Norwood Systems Limited has completed a Follow-on Equity Offering in the amount of AUD 0.5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 26,315,789
Price\Range: AUD 0.019
Discount Per Security: AUD 0.00114
Transaction Features: Subsequent Direct Listing Announcement • Apr 17
Norwood Systems Limited Announces Resignation of Paul Covich as A Director Norwood Systems Ltd. advised that Mr. Paul Covich has resigned as a Director of the Company. Mr. Covich has been a director of the Company since 28 January 2025. Announcement • Jan 29
Norwood Systems Ltd Announces Appointment of Paul Covich to Its Board of Directors Norwood Systems Ltd. announced the appointment of Mr. Paul Covich to its Board of Directors, effective immediately. Mr. Covich, a stockbroker at Alto Capital, has assisted Norwood in raising working capital over the past three years. Mr. Covich has over 35 years' experience in all facets of the stockbroking industry here in Australia and the United Kingdom. He also has significant experience in structuring and advising on corporate transactions with ASX listed companies in both the industrial and mining sectors. He holds a Bachelor of Business degree from Curtin University and is also a Master Stockbroker with SIAA (Stockbrokers and Investment Advisers Association). Announcement • Jan 03
Norwood Systems Limited Announces Board Changes Norwood Systems Limited announced that effective immediately, Dr. John Tarrant has been appointed Chair of the Board. He succeeds Paul Ostergaard, who remains Chief Executive Officer and Founder of Norwood Systems. In this newly separated role, Dr. Tarrant will lead the Board in providing strong oversight and strategic guidance, ensuring the highest standards of governance as Norwood expands into new markets and finalises pending contracts. Mr. Paul Ostergaard will continue to serve as Chief Executive Officer and Founder, focusing on completing the contractual discussions already underway with major prospective clients in Australia and the UK. He remains responsible for overseeing the Company's commercial, product, and technology strategy.
Norwood has established a new Commercial Subcommittee to support the Company's growth trajectory in 2025. Chaired by Mr. Phil Marsland, and initially comprising directors Phil Marsland, Philip Otley and Paul Ostergaard, the subcommittee will work closely with the Company's management to: Accelerate Sales Growth, Shape Product & Innovation and Scale Partnerships. Announcement • Dec 13
Norwood Systems Limited has filed a Follow-on Equity Offering in the amount of AUD 0.505 million. Norwood Systems Limited has filed a Follow-on Equity Offering in the amount of AUD 0.505 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 13,500,000
Price\Range: AUD 0.03
Discount Per Security: AUD 0.0018
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 3,333,333
Price\Range: AUD 0.03
Discount Per Security: AUD 0.0018
Transaction Features: Subsequent Direct Listing Announcement • Nov 02
Norwood Systems Limited, Annual General Meeting, Nov 29, 2024 Norwood Systems Limited, Annual General Meeting, Nov 29, 2024. Location: 4 leura street, nedlands wa 6009, Australia Reported Earnings • Oct 05
Full year 2024 earnings released: AU$0.006 loss per share (vs AU$0.005 loss in FY 2023) Full year 2024 results: AU$0.006 loss per share (further deteriorated from AU$0.005 loss in FY 2023). Revenue: AU$1.14m (up 19% from FY 2023). Net loss: AU$2.58m (loss widened 37% from FY 2023). Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 25% per year, which means it is well ahead of earnings. New Risk • Sep 18
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$14.3m (US$9.62m) 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 Less than 1 year of cash runway based on free cash flow trend (-AU$1.6m free cash flow). Shares are highly illiquid. Negative equity (-AU$1.2m). Revenue is less than US$1m (AU$1.1m revenue, or US$771k). Market cap is less than US$10m (AU$14.3m market cap, or US$9.62m). Minor Risk Shareholders have been diluted in the past year (15% increase in shares outstanding). Reported Earnings • Aug 31
Full year 2024 earnings released: AU$0.006 loss per share (vs AU$0.005 loss in FY 2023) Full year 2024 results: AU$0.006 loss per share (further deteriorated from AU$0.005 loss in FY 2023). Revenue: AU$1.74m (up 81% from FY 2023). Net loss: AU$2.55m (loss widened 35% from FY 2023). Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings. 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$1.8m 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$1.8m free cash flow). Revenue is less than US$1m (AU$1.2m revenue, or US$775k). Minor Risks Shareholders have been diluted in the past year (16% increase in shares outstanding). Market cap is less than US$100m (AU$19.8m market cap, or US$12.9m). Announcement • Nov 17
Norwood Systems Limited, Annual General Meeting, Dec 19, 2023 Norwood Systems Limited, Annual General Meeting, Dec 19, 2023, at 15:00 W. Australia Standard Time. Location: 150 Stirling Highway Nedlands Australia Agenda: To consider ADOPTION OF REMUNERATION REPORT; RE-ELECTION OF DIRECTOR PHILIP OTLEY; RATIFICATION OF PRIOR ISSUE OF PLACEMENT SHARES AND PLACEMENT OPTIONS ; RATIFICATION OF PRIOR ISSUE OF PLACEMENT OPTIONS; and to discuss other matters. Announcement • Oct 25
Norwood Systems Limited has completed a Follow-on Equity Offering in the amount of AUD 0.71 million. Norwood Systems Limited has completed a Follow-on Equity Offering in the amount of AUD 0.71 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 5,500,000
Price\Range: AUD 0.04
Discount Per Security: AUD 0.0024
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 12,250,000
Price\Range: AUD 0.04
Discount Per Security: AUD 0.0024
Transaction Features: Subsequent Direct Listing Reported Earnings • Sep 01
Full year 2023 earnings released: AU$0.005 loss per share (vs AU$0.004 loss in FY 2022) Full year 2023 results: AU$0.005 loss per share (further deteriorated from AU$0.004 loss in FY 2022). Revenue: AU$1.50m (up 22% from FY 2022). Net loss: AU$1.79m (loss widened 65% from FY 2022). Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. 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 Less than 1 year of cash runway based on free cash flow trend (-AU$1.1m free cash flow). Share price has been highly volatile over the past 3 months (20% average weekly change). Negative equity (-AU$548k). Revenue is less than US$1m (AU$1.2m revenue, or US$785k). Market cap is less than US$10m (AU$14.5m market cap, or US$9.40m). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Shareholders have been diluted in the past year (22% increase in shares outstanding). Announcement • Jun 15
Norwood Systems Limited has announced a Derivatives Offering in the amount of AUD 0.101104 million. Norwood Systems Limited has announced a Derivatives Offering in the amount of AUD 0.101104 million.
Security Name: Options
Security Type: Equity Option
Securities Offered: 40,441,553
Price\Range: AUD 0.0025
Discount Per Security: AUD 0.00015
Transaction Features: Rights Offering Reported Earnings • Mar 03
First half 2023 earnings released: AU$0.003 loss per share (vs AU$0.002 loss in 1H 2022) First half 2023 results: AU$0.003 loss per share (further deteriorated from AU$0.002 loss in 1H 2022). Revenue: AU$1.04m (up 99% from 1H 2022). Net loss: AU$968.3k (loss widened 112% from 1H 2022). Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Nov 24
Non-Executive Director recently bought AU$67k worth of stock On the 21st of November, John Tarrant bought around 3m shares on-market at roughly AU$0.021 per share. This transaction amounted to 4.9% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$123k more in shares than they have sold in the last 12 months. Reported Earnings • Aug 31
Full year 2022 earnings released: AU$0.004 loss per share (vs AU$0.003 loss in FY 2021) Full year 2022 results: AU$0.004 loss per share (down from AU$0.003 loss in FY 2021). Revenue: AU$1.70m (up 62% from FY 2021). Net loss: AU$1.08m (loss widened 24% from FY 2021). Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Board Change • Aug 24
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. Director Phil Marsland 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 • Jul 15
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. Director Phil Marsland 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 • Apr 28
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. Director Phil Marsland 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. Reported Earnings • Sep 03
Full year 2021 earnings released: AU$0.003 loss per share (vs AU$0.009 loss in FY 2020) The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2021 results: Revenue: AU$2.10m (up 142% from FY 2020). Net loss: AU$870.7k (loss narrowed 54% from FY 2020). Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has fallen by 34% per year, which means it is significantly lagging earnings. Director Overboarding • Aug 20
Director Michael Edwards has joined 5th company board Michael Edwards has been appointed to the board of Barra Resources Limited (ASX:BAR). Edwards now sits on a total of 5 company boards. According to the Simply Wall St Risk Model, the director is at risk of having too many board obligations. Director Overboarding • Aug 20
Director Michael Edwards has joined 5th company board Michael Edwards has been appointed to the board of Barra Resources Limited (ASX:BAR). Edwards now sits on a total of 5 company boards. According to the Simply Wall St Risk Model, the director is at risk of having too many board obligations. Director Overboarding • Aug 20
Director Michael Edwards has joined 5th company board Michael Edwards has been appointed to the board of Barra Resources Limited (ASX:BAR). Edwards now sits on a total of 5 company boards. According to the Simply Wall St Risk Model, the director is at risk of having too many board obligations. Director Overboarding • Aug 20
Director Michael Edwards has joined 5th company board Michael Edwards has been appointed to the board of Barra Resources Limited (ASX:BAR). Edwards now sits on a total of 5 company boards. According to the Simply Wall St Risk Model, the director is at risk of having too many board obligations. Director Overboarding • Aug 20
Director Michael Edwards has joined 5th company board Michael Edwards has been appointed to the board of Barra Resources Limited (ASX:BAR). Edwards now sits on a total of 5 company boards. According to the Simply Wall St Risk Model, the director is at risk of having too many board obligations. 
