Excellent results: positive cash flows, no debts and growing cash reserves:
'Cash receipts of $1.5 million (up 1,214% compared to previous corresponding period) represents a solid start to the financial year, driven by the Company’s growing base of intelligent lighting customers, including new and existing customers in the financial services, health, education, retail, and logistics sectors.
Net operating cash outflows of $1.6m are consistent with the business’s investment in growth during the quarter. The pipeline of opportunities is strengthening and includes intelligent lighting systems installations and retrofits for large format warehouses, multi-site property portfolios and other lighting systems sales.
During the quarter, the Company received net cash proceeds of $3.6m from a share placement, and repaid $0.5m of borrowings, leaving the company free of external debt at the end of the quarter.
Cash on hand at the end of the quarter was $2.5m, up from $1.3m at the end of the previous quarter.'
GER Price at posting:
6.4¢ Sentiment: Buy Disclosure: Held
