Inventis Limited (ASX:IVT) Amends Operational Review and Reports Q2 Highlights
Operational Review Amendments
Inventis Limited has corrected errors in its Operational Review and Appendix 4C for the quarter ended 31 December 2024, specifically regarding the approved share sale in ECD and updated financing facilities.
Q2 Operational Highlights
The company confirmed Opentec orders exceeding $5.7 million are expected to settle in February 2025. Inventis actively pursued a $2.5 million USD capital raise for Hazavoid Tx LLC and received a superior offer from Ant Software Pty Ltd for a 49% ECD equity share sale, potentially raising $3 million to reduce outstanding debt. Additionally, recurring revenue funding facilities for Hazavoid LCC and a new Hazavoid App are in development, with projects like the Hazavoid Storm Alert for Western Sydney Airport set for delivery by the end of FY25. Total network sales increased by 4% year-on-year, and Q2 delivery KPIs remained strong, ranging from 92.9% to 100%.
Technology Division Expansion
The Technology Division secured new international orders, including from the Philippines, and developed a qualified pipeline exceeding AUD$3.4 million in the USA. Hazavoid Tx LLC is enhancing its product offerings with a new subscription model and an app projected to earn up to $4 million annually by 2029. New distribution agreements in the Mid-West and Eastern Seaboard regions are expected to boost USA revenue over the next 12-24 months.
Capital Management
Inventis is exploring various opportunities to release cash, including a $2.5 million USD equity placement in Hazavoid Tx LLC USA and convertible notes. Chairman Peter Bobbin stated, “the Company will seek various opportunities to release cash in the coming months.”
Executive Comments
Managing Director Anthony Mankarios said, “These developments yield an exciting growth potential for the future of the group, it signals a positive way forward with international expansion and interest from investors. This has been a long time coming through covid-19 and the many hurdles following, but now a clearer picture has emerged with the size of the potential opportunities associated with our global expansions. General sales are down on last year to Q2 due to two larger multi-million-dollar orders last year across two divisions that could not be duplicated in this period. This is anticipated to correct in Q3 and Q4 this financial year with a growing pipeline and orders being seen at present.”
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