New Risk • May 18
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$12.2m (US$8.72m) 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$695k free cash flow). Share price has been highly volatile over the past 3 months (22% average weekly change). Negative equity (-AU$1.0m). Shareholders have been substantially diluted in the past year (248% increase in shares outstanding). Revenue is less than US$1m (AU$810k revenue, or US$579k). Market cap is less than US$10m (AU$12.2m market cap, or US$8.72m). Duyuru • Mar 28
I Synergy Group Limited, Annual General Meeting, May 29, 2026 I Synergy Group Limited, Annual General Meeting, May 29, 2026. Reported Earnings • Mar 02
Full year 2025 earnings released: EPS: AU$0 (vs AU$0.004 loss in FY 2024) Full year 2025 results: EPS: AU$0. Revenue: AU$810.0k (down 16% from FY 2024). Net loss: AU$339.0k (loss widened 22% from FY 2024). New Risk • Feb 04
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$3.47m (US$2.44m) 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 (25% average weekly change). Negative equity (-AU$1.1m). Shareholders have been substantially diluted in the past year (338% increase in shares outstanding). Revenue is less than US$1m (AU$856k revenue, or US$601k). Market cap is less than US$10m (AU$3.47m market cap, or US$2.44m). Reported Earnings • Sep 02
First half 2025 earnings released: EPS: AU$0 (vs AU$0.001 loss in 1H 2024) First half 2025 results: EPS: AU$0 (improved from AU$0.001 loss in 1H 2024). Revenue: AU$378.6k (down 22% from 1H 2024). Net loss: AU$57.4k (loss narrowed 81% from 1H 2024). Over the last 3 years on average, earnings per share has increased by 110% per year but the company’s share price has fallen by 45% per year, which means it is significantly lagging earnings. New Risk • Jul 04
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 41% 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 Shares are highly illiquid. Negative equity (-AU$2.5m). Shareholders have been substantially diluted in the past year (41% increase in shares outstanding). Revenue is less than US$1m (AU$960k revenue, or US$631k). Market cap is less than US$10m (AU$1.00m market cap, or US$658.1k). Minor Risk Significant insider selling over the past 3 months (AU$127k sold). Duyuru • Jun 04
I Synergy Group Limited has filed a Follow-on Equity Offering in the amount of AUD 1.00146 million. I Synergy Group Limited has filed a Follow-on Equity Offering in the amount of AUD 1.00146 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,001,460,216
Price\Range: AUD 0.001
Discount Per Security: AUD 0.00003
Transaction Features: Rights Offering Board Change • Apr 22
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Director Victor Hoo was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Apr 07
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Director Victor Hoo was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Duyuru • Mar 27
I Synergy Group Limited has completed a Follow-on Equity Offering in the amount of AUD 0.09 million. I Synergy Group Limited has completed a Follow-on Equity Offering in the amount of AUD 0.09 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 22,500,000
Price\Range: AUD 0.004
Transaction Features: Subsequent Direct Listing Duyuru • Mar 18
I Synergy Group Limited Announces Appointment of Jee Meng Heng as Managing Director I Synergy Group Limited announced the appointment of Jee Meng Heng as Managing Director. Commencement Date: 18 March 2025. Term: 3 years from the Commencement Date and thereafter for such period as the Company may decide. Termination: Subject to termination by either party by giving to the other party 6 months' notice in writing. Reported Earnings • Mar 01
Full year 2024 earnings released: AU$0.001 loss per share (vs AU$0.003 loss in FY 2023) Full year 2024 results: AU$0.001 loss per share (improved from AU$0.003 loss in FY 2023). Revenue: AU$960.0k (down 8.0% from FY 2023). Net loss: AU$278.0k (loss narrowed 69% from FY 2023). New Risk • Feb 09
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 30% 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 Shares are highly illiquid. Negative equity (-AU$2.3m). Earnings have declined by 9.3% per year over the past 5 years. Shareholders have been substantially diluted in the past year (30% increase in shares outstanding). Revenue is less than US$1m (AU$983k revenue, or US$617k). Market cap is less than US$10m (AU$1.98m market cap, or US$1.24m). Duyuru • Jan 24
I Synergy Group Limited Announces Board Appointments The Board of I Synergy Group Limited advised that Mr. Joshua Hunt has resigned as a director of the Company on 24 January 2025, and the Board has appoint Mr. Jiayi Yu as a Non-Executive Director of the Company, effective 24
January 2025. The Board thanks Mr. Hunt for his valued contributions and services to the Company and wish him all the best for his future appointments and endeavours. Duyuru • Jan 02
I Synergy Group Limited Announces Company Secretary Changes The Board of I Synergy Group Limited advised that Mr. James Barrie has resigned as Company Secretary with immediate effect, and the Board has appointed Ms. Louisa Ho as the incoming Company Secretary, effective 31 December 2024. Ms. Ho is a practising corporate lawyer and has extensive experience working with ASX listed companies in corporate compliance and governance. The Board thanks Mr. Barrie for his valued contributions and services to the Company and wish him all the best for his future appointments and endeavours. Mr. Barrie will remain available to provide support during this transition period. Duyuru • Nov 29
I Synergy Group Limited has completed a Follow-on Equity Offering in the amount of AUD 0.1 million. I Synergy Group Limited has completed a Follow-on Equity Offering in the amount of AUD 0.1 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 20,000,000
Price\Range: AUD 0.005
Transaction Features: Subsequent Direct Listing New Risk • Sep 06
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$757k 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$757k free cash flow). Negative equity (-AU$2.3m). Earnings have declined by 9.3% per year over the past 5 years. Revenue is less than US$1m (AU$983k revenue, or US$662k). Market cap is less than US$10m (AU$2.14m market cap, or US$1.44m). Minor Risk Shareholders have been diluted in the past year (23% increase in shares outstanding). Duyuru • May 03
I Synergy Group Limited, Annual General Meeting, May 31, 2024 I Synergy Group Limited, Annual General Meeting, May 31, 2024, at 13:00 AUS Eastern Standard Time. Location: Level 6, 99 William Street, Melbourne Victoria Australia Agenda: To consider adoption of remuneration report; to consider election of director Dato Hoo Voo Him; to consider election of director Deeick De Souza; to consider ratification of prior issue of shares; to consider issue of shares to a director in lieu of director fees Joshua Hunt; to consider issue of shares to a director fees Derrick De Souza; and to consider approval of 7.1A mandate. Duyuru • Apr 23
I Synergy Group Limited announced that it has received AUD 0.7 million in funding On April 22, 2024, I Synergy Group Limited closed the transaction. The company amended the terms of the transaction and issued 7 convertible notes at a price of $100,000 per convertible note for the gross proceeds of $700,000 to sophisticated investors. Reported Earnings • Mar 01
Full year 2023 earnings released: AU$0.003 loss per share (vs AU$0.03 loss in FY 2022) Full year 2023 results: AU$0.003 loss per share (improved from AU$0.03 loss in FY 2022). Revenue: AU$1.04m (down 32% from FY 2022). Net loss: AU$961.0k (loss narrowed 88% from FY 2022). Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has fallen by 58% per year, which means it is performing significantly worse than earnings. Duyuru • Jan 30
I Synergy Group Limited announced that it expects to receive AUD 10 million in funding I Synergy Group Limited announced that it has entered into a Convertible Note Agreement with new investor VGI Vmall Limited to issue a convertible note at a price of AUD 10,000,000 for the gross proceeds of AUD 10,000,000 on January 30, 2024. The drawdowns can be made within 12 months of shareholder approval at the Meeting. Drawdown within 3 months from the date of shareholder approval at the meeting. The note carry interest at 2% per annum on each drawdown. The note is convertible into ordinary shares of the company based on the 15-day VWAP of the shares immediately prior to conversion The shares issued upon conversion will be subject to voluntary escrow for 90-days following allotment. The transaction is subject to shareholder approval at an upcoming General Meeting. Board Change • Jan 30
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. 1 experienced director. No highly experienced directors. 1 independent director (3 non-independent directors). Non-Executive Director Derrick de Souza is the most experienced director on the board, commencing their role in 2020. Independent Non-Executive Director Josh Hunt 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 experienced directors. Duyuru • Dec 05
I Synergy Group Limited Announces Appointment of Jee Meng (Anson) Heng as an Alternate Director I Synergy Group Limited advises it has resolved to appoint Jee Meng (Anson) Heng as an alternate director to Dato' Victor Hoo. Anson is the Chief Operating Officer at VCI Global and brings over 15 years' experience in the IT sector. With a strong background in IT and e-commerce, he previously established Vmall Enterprise, a luxury e-commerce platform, and prior IT roles include as Group IT Manager at Computer Form Berhad, a publicly listed company on the Malaysia Bursa, and as IT Business Intermediate Analyst Application Manager at Citibank Berhad in Malaysia. Duyuru • Nov 19
I Synergy Group Limited Appoints Hoo Voon Him as Director, Effective from 17 November 2023 I Synergy Group Limited appointed Hoo Voon Him as Director, effective from 17 November 2023. Duyuru • Nov 18
I Synergy Group Limited has completed a Follow-on Equity Offering in the amount of AUD 0.18 million. I Synergy Group Limited has completed a Follow-on Equity Offering in the amount of AUD 0.18 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 15,000,000
Price\Range: AUD 0.012
Transaction Features: Subsequent Direct Listing Duyuru • Nov 17
I Synergy Group Limited Appoints Dato' Victor Hoo to Its Board of Directors The Board of I Synergy Group Limited to confirm the appointment of Dato' Victor Hoo to its Board of directors effective immediately, following completion of Dato' Victor's investment in the Company. Dato' Victor is a board member, venture capitalist, investor, corporate advisor, and a senior management executive with more than 20 years of experience working across continents (Asia, Australia, Europe, UK, and US), managing portfolios across diverse industries such as information technology (IT), finance, education, and real estate. As the Executive Chairman of VCI Global Limited, Dato' Victor has been actively involved in a myriad of capital market and technology-improvement-related deals. His credentials include advisory roles in real estate, human capital management, hospitality, education, cleantech, fintech, and robotics companies. Dato' Victor Hoo is currently managing a portfolio encompassing over 40 Malaysian public listed companies with a combined market capitalisation of approximately USD 13 billion. Dato' Victor graduated from the University of Queensland, Australia with a Bachelor of Arts in International Relations and Japanese in 2002. Subsequently, he obtained a Postgraduate Diploma in Laws (Commercial and Corporate Law) and a Certificate in Laws (Banking and Finance Law) from the University of London in 2010. Duyuru • Nov 16
I Synergy Group Limited has filed a Follow-on Equity Offering in the amount of AUD 0.18 million. I Synergy Group Limited has filed a Follow-on Equity Offering in the amount of AUD 0.18 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 15,000,000
Price\Range: AUD 0.012
Transaction Features: Subsequent Direct Listing Board Change • Oct 09
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 Non-Executive Director Josh Hunt was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Duyuru • Sep 27
I Synergy Group Limited Announces Resignation of Shah Mohammad Ali as Chief Executive Officer, Effective 5 October 2023 The Board of I Synergy Group Limited announced that Mr. Shah Mohammad Ali has tendered his resignation as the Chief Executive Officer of the Company. He will remain in the role until 5 October 2023. In the interim, with support from the Board, Mr. Dato' Lawrence Teo in his existing capacity as Executive Chair will assume CEO responsibilities with no change to his existing remuneration. Mr. Shah has advised his resignation is a decision related to his desire to focus on other priorities. Duyuru • Sep 15
I Synergy Group Limited Announces Change of Company Secretary I Synergy Group Limited advised of the resignation of Mr. Harry Miller as Company Secretary with effect from 15 September 2023. Mr. James Barrie has been appointed as Company Secretary, also effective from 15 September 2023. Mr. Barrie is a professional Company Secretary and Director, and the Board welcomes his input moving forward. Duyuru • Jul 04
I Synergy Group Limited Appoints Tony Hoo as the Chief Financial Officer I Synergy Group Limited announced the appointment of Mr. Tony Hoo as the Chief Financial Officer of the Company, effective today, 3 July 2023. Mr. Tony Hoo is a highly experienced CFO with expertise in financial leadership and management, corporate governance, corporate mergers and acquisitions as well as investor relations. He has over 20 years of experience in financial control, predominantly with public listed companies in Malaysia, and has worked in the Kingdom of Saudi Arabia. He is a Chartered Accountant and holds an MBA, with a major in e-commerce. Duyuru • May 17
An unknown buyer acquired a 9.01% stake in I Synergy Group Limited (ASX:IS3) from Dato Teo Chee Hong. An unknown buyer acquired a 9.01% stake in I Synergy Group Limited (ASX:IS3) from Dato Teo Chee Hong on May 15, 2023. An unknown buyer completed the acquisition of a 9.01% stake in I Synergy Group Limited (ASX:IS3) from Dato Teo Chee Hong on May 15, 2023. Reported Earnings • Mar 03
Full year 2022 earnings released: AU$0.03 loss per share (vs AU$0.006 loss in FY 2021) Full year 2022 results: AU$0.03 loss per share (further deteriorated from AU$0.006 loss in FY 2021). Revenue: AU$1.54m (down 20% from FY 2021). Net loss: AU$7.73m (loss widened AU$6.68m from FY 2021). Over the last 3 years on average, earnings per share has fallen by 44% per year and the company’s share price has also fallen by 44% per year. Duyuru • Feb 09
I Synergy Group Limited Announces Appointment of Dato Chee Hong Teo as Director I Synergy Group Limited announced the appointment of Mr. Dato Chee Hong Teo as Director, date of appointment is February 2, 2023. Duyuru • Nov 17
I Synergy Group Limited Launch Wyde App and Operational I Synergy Group Limited refers to the previous announcement on 27 October 2022 for the launch of its new SaaS product wyde, and the submission of the wyde Apps on the App Stores and announced the wyde Apps are now live on the Google Play Store (Android) and Apple App Store and publicly available for download and use. wyde is currently working on the database digitising strategy of integrating I Synergy's existing user base allowing wyde to leverage off this existing database. wyde is aiming to onboard new users, merchants and influencers and grow its operations over time. The Company is of the view that the eCommerce space and influencer marketing is a growing sector, and that e-Wallet payments will continue to gain popularity across all markets and industries. Unique proposition of wyde in the market wyde is the only influencer marketing platform with an App built on blockchain technology that seamlessly automates the interaction between advertisers and influencers. There is currently limited direct competition in the influencer marketing industry and the Company is positioning wyde to be a leader in this space. The global influencer marketing industry is a vibrant and expanding sector within the digital economy. In addition to influencer marketing, the value add of a universal blockchain-based loyalty program helps the platform to reduce the customer retention cost for businesses. The Company believes that online advertisers are reducing focus and spend on Facebook and Google Ads in favour of direct and performance-based marketing initiatives and the wyde platform is well positioned as a tool to facilitate this trend. The wyde platform is now available in Malaysia and Indonesia, and the Company is proceeding with digitising and onboarding its current database of users. The Company is planning to launch the full wyde product in Australia in March 2023. The launch of the payment gateway facility for online merchants is planned for June 2023 and is currently under development by the Company. As at the date of this announcement, users in Malaysia and Indonesia can register with wyde to obtain access to an exclusive unique digital wallet to receive rewards and join the waitlist to get access to limited NFT's. These will notify users when exclusive products and discounts are able to be offered to NFT holders on the wyde ecosystem. The NFT holders can build data held in their NFTs by continuing to collect points and provide value to the wyde platform, leading to an upgrade in their status on wyde. wyde revenue model and details: wyde will seek to build its revenue by monthly advertiser subscription pricing for advertising on the wyde platform, and a model & commissions structure whereby wyde will earn the remainder of the transaction fees after influencers have received their commissions. wyde is focused on user acquisition, revenue and growth. wyde charges a monthly subscription fee to advertisers who register with wyde, which includes a fixed and variable fee that is dependent on the type of subscription they choose depending on which is most suitable for their business. The variable fee is the fee wyde charges as a percentage of the total order value and is based on the advertiser's categories for their products. The fixed fee is per transaction and not dependant on the category. Payment can be deducted monthly from the advertiser. Users can sign up as a wyde influencer to earn income with wyde by referring products and services through wyde. A normal influencer is only able to onboard advertisers and customers, whereas Super Influencer can onboard influencers as well. Super Influencers are able to obtain increased reward rates that are not provided to a normal Influencer. Super Influencers can increase their income potential by building their team of influencers and creating an online influencer business within the wyde ecosystem. To level up and become a Super Influencer an influencer needs to earn a cumulative RMB 10,000 in total on the wyde platform. Board Change • Nov 16
No independent directors There are 3 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). Non-Executive Director Derrick de Souza is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Reported Earnings • Sep 02
First half 2022 earnings released: EPS: AU$0 (vs AU$0 in 1H 2021) First half 2022 results: EPS: AU$0 (vs AU$0 in 1H 2021). Revenue: AU$905.8k (down 16% from 1H 2021). Net loss: AU$5.45m (down AU$5.51m from profit in 1H 2021). Duyuru • May 27
I Synergy Group Limited Announces Appointment of Joshua Hunt as Non-Executive Director I Synergy Group Limited ("I Synergy Group" or "the Company") advised that Mr. Joshua Hunt has been appointed as Non-Executive Director of the Company effective 26 May 2022 following Shareholder approval of his election at todays Annual General Meeting. Mr. Hunt is a corporate and mining lawyer who has extensive experience in all aspects of technology, mining and energy project acquisitions and disposals. He has advised on numerous IPOs and fundraisings and has a wide range of experience in many different types of acquisitions by both public and private companies. Mr. Hunt provides stock exchange and listing rule compliance advice, capital markets, corporate and strategic advice, general securities, and commercial law advice. Mr. Hunt is closely involved with early stage and venture capital projects. Duyuru • May 26
I Synergy Group Limited Announces Retirement of Jeffrey as Non-Executive Director I Synergy Group Limited advises that Non-Executive Director Mr. Jeffrey Lee will retire from his current position effective, 25 May 2022. Jeffrey has been a Non-Executive Director of the Company since early 2020 and the Company would like to sincerely thank him for his valuable contribution. Board Change • Apr 27
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 Kevin Coutinho 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. Duyuru • Mar 06
I Synergy Group Limited Appoints Kevin Coutinho as Director I Synergy Group Limited, at its general meeting, held on 4 March 2022, approved the election of MR Kevin Coutinho as Director. Reported Earnings • Mar 02
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: AU$0.006 loss per share (up from AU$0.008 loss in FY 2020). Revenue: AU$1.91m (down 77% from FY 2020). Net loss: AU$1.05m (loss narrowed 28% from FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 9% per year. Duyuru • Feb 03
I Synergy Group Limited, Annual General Meeting, Mar 04, 2022 I Synergy Group Limited, Annual General Meeting, Mar 04, 2022, at 10:00 W. Australia Standard Time. Location: Ground Floor, 16 Ord Street West Peth Western Australia Australia Agenda: To consider Issue of Shares as part consideration for the Acquisition; to consider Issue of New Options as part consideration for the Acquisition; to consider Election of Mr Kevin Coutinho as Director; to consider Issue of Placement Shares; to consider Issue of free-attaching New Options; to consider Issue of Shares to Ventnor Capital. Board Change • Jan 27
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. Non-Executive Director Derrick de Souza was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Duyuru • Jan 27
I Synergy Group Limited (ASX:IS3) entered into a share purchase agreement to acquire POSTech International Pty Ltd. I Synergy Group Limited (ASX:IS3) entered into a share purchase agreement to acquire POSTech International Pty Ltd on January 27, 2022. The total consideration payable by the Company to the shareholders of POSTech for the Proposed Acquisition comprises: The issue of 55,000,000 fully paid ordinary shares (Consideration Shares) in the Company to the shareholders of POSTech at a deemed issue price of AUD 0.036 per Share; and The issue of 55,000,000 unlisted options (Consideration Options) in the Company to the shareholders of POSTech. The exercise price of the Consideration Options is AUD 0.05 with an expiry date two years from the date of issue. Mr Kevin Coutinho will be appointed as Executive Director and Chief Technical Officer of I Synergy. Settlement of the Proposed Acquisition (Settlement) will be subject to various conditions including (inter alia) I Synergy obtaining any necessary shareholder approvals required for the Proposed Acquisition, no material adverse effects on POSTech, satisfactory due diligence by the Company, release of any encumbrances, the signing of an employment agreement between the Company and Mr Kevin Coutinho (the Founder and CEO of POSTech), the finalisation of a development agreement between POSTech and a company controlled by Mr Kevin Coutinho, and completion of the placement mentioned below. Ventnor Capital Pty Ltd. acted as financial advisor to I Synergy Group Limited. Board Change • Aug 31
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. Non-Executive Director Derrick de Souza was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 28
Full year 2020 earnings released: AU$0.008 loss per share (vs AU$0.012 loss in FY 2019) The company reported a decent full year result with reduced losses and improved control over expenses, although revenues were weaker. Full year 2020 results: Revenue: AU$8.37m (down 4.6% from FY 2019). Net loss: AU$1.47m (loss narrowed 32% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 21% per year, which means it has not declined as severely as earnings. 