Announcement • Mar 11
Traffic Technologies Limited has completed a Follow-on Equity Offering in the amount of AUD 0.691646 million. Traffic Technologies Limited has completed a Follow-on Equity Offering in the amount of AUD 0.691646 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 34,915,287
Price\Range: AUD 0.005
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 103,413,820
Price\Range: AUD 0.005
Security Features: Attached Options
Transaction Features: Rights Offering New Risk • Feb 28
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$4.2m 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$4.2m free cash flow). Share price has been highly volatile over the past 3 months (38% average weekly change). Negative equity (-AU$13m). Earnings have declined by 22% per year over the past 5 years. Shareholders have been substantially diluted in the past year (52% increase in shares outstanding). Market cap is less than US$10m (AU$4.61m market cap, or US$2.88m). New Risk • Jan 09
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 52% 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 (31% average weekly change). Negative equity (-AU$7.6m). Earnings have declined by 14% per year over the past 5 years. Shareholders have been substantially diluted in the past year (52% increase in shares outstanding). Market cap is less than US$10m (AU$3.46m market cap, or US$2.14m). Announcement • Nov 11
Traffic Technologies Limited has filed a Follow-on Equity Offering in the amount of AUD 2.797045 million. Traffic Technologies Limited has filed a Follow-on Equity Offering in the amount of AUD 2.797045 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 559,408,983
Price\Range: AUD 0.005
Security Features: Attached Options
Transaction Features: Rights Offering Announcement • Oct 25
Traffic Technologies Limited, Annual General Meeting, Nov 27, 2024 Traffic Technologies Limited, Annual General Meeting, Nov 27, 2024. Announcement • Oct 16
Traffic Technologies Limited has completed a Follow-on Equity Offering in the amount of AUD 0.904783 million. Traffic Technologies Limited has completed a Follow-on Equity Offering in the amount of AUD 0.904783 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 145,932,778
Price\Range: AUD 0.0062
Transaction Features: Subsequent Direct Listing Reported Earnings • Oct 04
Full year 2024 earnings released: AU$0.019 loss per share (vs AU$0.011 loss in FY 2023) Full year 2024 results: AU$0.019 loss per share (further deteriorated from AU$0.011 loss in FY 2023). Revenue: AU$31.9m (down 45% from FY 2023). Net loss: AU$15.3m (loss widened 94% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 61 percentage points per year, which is a significant difference in performance. Announcement • Sep 26
Traffic Technologies Limited Announces Retirement of Youmin (Peter) Wu as Director Traffic Technologies Ltd. wishes to announce that Mr. Youmin (Peter) Wu has retired from the board of the company. Reported Earnings • Aug 31
Full year 2024 earnings released: AU$0.019 loss per share (vs AU$0.011 loss in FY 2023) Full year 2024 results: AU$0.019 loss per share (further deteriorated from AU$0.011 loss in FY 2023). Revenue: AU$32.0m (down 45% from FY 2023). Net loss: AU$15.3m (loss widened 94% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 62 percentage points per year, which is a significant difference in performance. Announcement • Aug 30
Traffic Technologies Limited has filed a Follow-on Equity Offering in the amount of AUD 0.904783 million. Traffic Technologies Limited has filed a Follow-on Equity Offering in the amount of AUD 0.904783 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 145,932,778
Price\Range: AUD 0.0062
Transaction Features: Subsequent Direct Listing Announcement • Aug 29
Traffic Technologies Limited announced that it expects to receive AUD 5.4052 million in funding Traffic Technologies Limited announced a private placement that it will issue 3 year convertible note for the aggregate gross proceeds of AUD 4,500,000 and up to 146,000,000 shares at an issue price of AUD 0.0062 per share for the gross proceeds of AUD 905,200 for the aggregate gross proceeds of AUD 5,405,200 on August 27, 2024. New Risk • Mar 29
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 15% 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 (33% average weekly change). Earnings have declined by 16% per year over the past 5 years. Market cap is less than US$10m (AU$5.23m market cap, or US$3.41m). Minor Risk Shareholders have been diluted in the past year (15% increase in shares outstanding). Announcement • Mar 22
Traffic Technologies Limited has filed a Follow-on Equity Offering in the amount of AUD 1.409267 million. Traffic Technologies Limited has filed a Follow-on Equity Offering in the amount of AUD 1.409267 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 227,301,056
Price\Range: AUD 0.0062 Announcement • Nov 20
Traffic Technologies Limited Announces Retirement of Tim Fry as Director Traffic Technologies Ltd. announced that Mr. Tim Fry has retired from the board of Traffic Technologies. Mr. Fry has served on the Board since 2020. The Board wishes to thank Mr. Fry for his strong commitment to the company over the past three years and wishes him well in his future endeavours. Announcement • Oct 27
Traffic Technologies Limited, Annual General Meeting, Nov 29, 2023 Traffic Technologies Limited, Annual General Meeting, Nov 29, 2023, at 10:00 AUS Eastern Standard Time. Agenda: To receive and consider the Financial Report, Director's Report and Auditor's Report on the Company and its controlled entities for the financial year ended 30 June 2023; to consider re-election of Mr. Mark Hardgrave as a Director; to consider election of Mr. Luke Donnellan as a Director; to consider approval of Remuneration Report; and to ratification of prior issue of Shares. Announcement • Oct 26
Traffic Technologies Limited Announces Chief Financial Officer Changes Traffic Technologies Ltd. announced that it has appointed Mr. Anthony Alembakis as Chief Financial Officer. Mr. Alembakis is an experienced financial manager having most recently served as Chief Financial Officer and Company Secretary of Oceania Glass, a manufacturer and distributor of specilaised glass products. Prior to that he was Financial Controller and Company Secretary of Olex Australia, a manufacturer and distributor of electrical cables. He has significant experience in manufacturing as well as experience working overseas. Mr. Alembakis has a Bachelor of Business degree from Victoria University and a Master of Business Administration degree from Boston University in the USA, and is a Certified Practising Accountant. Mr. Peter Crafter is retiring as Chief Financial Officer but will continue to serve as Company Secretary. Reported Earnings • Aug 25
Full year 2023 earnings released: AU$0.011 loss per share (vs AU$0.001 loss in FY 2022) Full year 2023 results: AU$0.011 loss per share (further deteriorated from AU$0.001 loss in FY 2022). Revenue: AU$58.0m (up 8.0% from FY 2022). Net loss: AU$7.89m (loss widened AU$7.40m from FY 2022). Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has fallen by 29% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 24
First half 2023 earnings released: EPS: AU$0 (vs AU$0.001 loss in 1H 2022) First half 2023 results: EPS: AU$0 (improved from AU$0.001 loss in 1H 2022). Revenue: AU$32.2m (up 19% from 1H 2022). Net loss: AU$50.0k (loss narrowed 85% from 1H 2022). Over the last 3 years on average, earnings per share has increased by 122% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • Dec 21
Traffic Technologies Limited Appoints Luke Donnellan to the Board Traffic Technologies Ltd. announced the appointment of Mr. Luke Donnellan to the Board. Mr. Donnellan is a former Member of the Victorian Parliament. He was a Labor Party member of the Victorian Legislative Assembly from 2002 to 2022, representing Narre Warren North. He was the Minister for Child Protection and the Minister for Disability, Ageing and Carers in the Second Andrews Ministry from December 2018 until October 2021. He also served as the Minister for Roads and Road Safety and Minister for Ports in the First Andrews Ministry from December 2014 to December 2018. Mr. Donnellan received a Bachelor of Commerce from the University of Melbourne in 1987. Announcement • Oct 25
Traffic Technologies Limited, Annual General Meeting, Nov 25, 2022 Traffic Technologies Limited, Annual General Meeting, Nov 25, 2022, at 10:00 AUS Eastern Standard Time. Location: K & L Gates, Level 25, Rialto South Tower, 525 Collins Street, Melbourne Victoria 3000 Melbourne Victoria Australia Agenda: To receive and consider the Financial Report, Director's Report and Auditor's Report for the financial year ended 30 June 2022; To consider re-election of Mr. Tim Fry as a Director; To consider Approval of Remuneration Report and to consider other matters. Reported Earnings • Aug 30
Full year 2022 earnings released: AU$0.001 loss per share (vs AU$0 in FY 2021) Full year 2022 results: AU$0.001 loss per share (down from AU$0 in FY 2021). Revenue: AU$53.9m (up 2.9% from FY 2021). Net loss: AU$488.0k (down 343% from profit in FY 2021). Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Nov 27
Traffic Technologies Limited (ASX:TTI) acquired Intelligent Transport Systems. Traffic Technologies Limited (ASX:TTI) acquired Intelligent Transport Systems in June 2021.
Traffic Technologies Limited (ASX:TTI) completed the acquisition of Intelligent Transport Systems in June 2021. Board Change • Sep 13
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Chairman Mark Hardgrave was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Sep 10
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Chairman Mark Hardgrave was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Sep 08
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Chairman Mark Hardgrave was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Jun 25
Traffic Technologies Limited Provides Revenue Guidance for the Financial Year Ending June 30, 2021 Traffic Technologies Limited provided revenue guidance for the financial year ending June 30, 2021. For the period, revenue is expected to improve from $44.5 million to approximately $51 million -$53 million. Announcement • May 13
Traffic Technologies Limited (ASX:TTI) agreed to acquire Business And Assets Of ITS Business Of Artcraft Pty Ltd from Artcraft Pty Ltd for AUD 0.75 million. Traffic Technologies Limited (ASX:TTI) agreed to acquire Business And Assets Of ITS Business Of Artcraft Pty Ltd from Artcraft Pty Ltd for AUD 0.75 million on May 12, 2021. The consideration will be paid in cash. The acquisition will consist of business and assets, along with customer contracts, staff, plant and equipment and a finance lease liability. Announcement • Dec 20
Traffic Technologies Ltd Wins $1 Million Lighting Contracts in Victoria Traffic Technologies Ltd. announced it has been awarded contracts to supply LED street lights and associated hardware to Whittlesea City Council and Baw Baw Shire Councils in Victoria. The contracts to supply approximately 3,000 LED street lights with a combined value of $1 million will be delivered in the March quarter of 2021. The upgrade of the City of Whittlesea street lights with energy efficient LED lights is part of the City's program to achieve zero net emissions by 2022 and further reduce energy costs. The City of Whittlesea is located in Melbourne's north, about 20km from the Central Business District (CBD). It is one of the largest municipalities in metropolitan Melbourne. About 70% of the City is rural area, while the other 30% is urban area. The urban area includes the suburbs of Bundoora, Doreen Epping, Lalor, South Morang and Thomastown. The supply of energy-efficient LED street lights to Baw Baw Shire is the second stage of an upgrade funded by the Federal Government to replace previous generation street lights in the Shire and save about 365 tonnes of greenhouse gas emissions per annum. The Shire of Baw Baw is a local government area situated in the eastern part of Victoria. It includes the towns of Drouin, Longwarry, Neerim South, Trafalgar, Warragul and Yarragon. Reported Earnings • Oct 15
Full year earnings released - AU$0.029 loss per share Over the last 12 months the company has reported total losses of AU$14.0m, with earnings decreasing by AU$15.2m from the prior year. Total revenue was AU$44.5m over the last 12 months, down 7.8% from the prior year. Announcement • Aug 28
Traffic Technologies Limited (ASX:TTI) completed the acquisition of asset and business of L&M Traffic Signals Pty Ltd. Traffic Technologies Limited (ASX:TTI) entered into an agreement to acquire asset and business of L&M Traffic Signals Pty Ltd for AUD 1.3 million on October 29, 2019. The purchase consideration of AUD 1.2 million cash and AUD 0.07 million worth of stock is payable over an 18 month period from completion with an earn-out of AUD 0.3 million payable in cash in late 2020, provided L&M meets profitability targets for the financial year to June 30, 2020. L&M had revenue of over AUD 5 million in the financial year ended June 30, 2019. The transaction is expected to be completed in early 2020.
Traffic Technologies Limited (ASX:TTI) completed the acquisition of asset and business of L&M Traffic Signals Pty Ltd on August 28, 2020.