Ann: HALFYR: GEO: GeoOp Limited 2013 interim fina

• Release Date: 13/12/13 10:30
• Summary: HALFYR: GEO: GeoOp Limited 2013 interim financial result
• Price Sensitive: No
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					GEO
13/12/2013 08:30
HALFYR

REL: 0830 HRS GeoOP Limited

HALFYR: GEO: GeoOp Limited 2013 interim financial result

GEOOP LIMITED (NZX:GEO)
Summary of the unaudited financial results for the six months ended 30
September 2013 and operating update

AUCKLAND, Friday 13 December 2013
This release covers the six month reporting period prior to GeoOp's listing
on the NZX on 31 October 2013. All relevant operational metrics and other
information relating to this period were included in the Disclosure Document
released to the NZX as part of GeoOp's compliance listing.  As a consequence,
there is minimal additional commentary on this release.

GeoOp Chief Executive Leanne Graham said "it has been a incredible six months
for the company raising capital and achieving a number of significant
accomplishments prior to the company's listing on the NZX in October.  These
include migrating to a world class cloud hosting environment, expansion into
overseas markets, establishing a subsidiary in Australia and setting the
foundations for growth."

Summary of the unaudited interim results to 30 September 2013

Summary for the six month period:
o Revenue of $125,000 (30 September 2012: $47,000) (166%)
o Expenses of $1,736,000 (30 September 2012: $68,000)
o Net loss attributable to equity holders of $1,612,000 (30 September 2012:
loss $21,000) (100%*)
o Cash of $678,000 as at 30 September 2013 (31 March 2013: $80,000)
o Equity as at 30 September 2013 of $925,000 (31 March 2013: deficit
$108,000)
o No dividend will be paid for the period
o Paying user numbers of 4,500

The focus of the business for the six months to 30 September 2013 has been to
build capability in its core job management and costing software and provide
the foundations for future growth.  During the period GeoOp experienced
significant business growth with paying user numbers almost doubling from
2,300 in March 2013 to 4,500 at the end of September 2013.

Key achievements during the period include:
o Recruitment of high quality capability into the company with employee
numbers increasing from 11 at 31 March 2013 to 31 employees by the end of
September;
o Migration to a world class cloud hosting environment, Rackspace, providing
greater performance, availability and scalability to GeoOp's customers;
o Incorporated a wholly owned subsidiary in Australia and opened an office in
Melbourne;
o Expanded its global presence placing staff in the United Kingdom and the
United States;
o Signed a partnership deal with Telstra to distribute GeoOp via Telstra's
T-Suite platform;
o Moved into new, open-plan premises located in Parnell, Auckland.  This
environment has already delivered greater collaboration between the teams and
has space to accommodate the growth plans for the business; and
o Undertook a private capital round in June 2013 raising $1.8 million from
investors, employees and directors of the Company.

Capital management and listing on the NZX

In October 2013, GeoOp undertook a private capital round raising $10.1
million from eligible and habitual investors.  These funds provide GeoOp with
the resources to substantially invest in the development and marketing of its
core job management and costing solution.  GeoOp listed on the Alternative
Market of the NZX on 31 October 2013.  During the six month period, GeoOp
incurred costs of approximately $180,000 relating to the capital round and
listing.

Outlook

GeoOp continues trading in line with the Disclosure Document provided to the
NZX upon listing on the Alternative Market.  A user update will be provided
to the market on a quarterly basis within 15 working days of the end of each
quarter.

Stewart Reynolds
Chief Financial & Operating Officer
+64 9 222 8232

About GeoOp Limited www.geoop.com

GeoOp Limited, the New Zealand-based mobile workforce management company
globally empowering trades and services businesses to create efficient
business processes.

GeoOp is the app revolutionising the way trades and services do business. It
replaces inefficient, paper-based systems with a simple way to accurately
create, assign, cost, quote and invoice jobs while in the field.  GeoOp runs
on a software-as-a-service (SaaS) model where users pay in advance for use of
the software.

GeoOp's unaudited half-year financial information is also released today and
available on the NZX.

* 100% used given substantial change from the comparative period
End CA:00245113 For:GEO    Type:HALFYR     Time:2013-12-13 08:30:03