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ASSET VISION CO LTD — Investor Presentation 2021
Aug 31, 2021
64438_rns_2021-08-31_8861d723-48f5-4a1a-b52f-16989f326a8b.pdf
Investor Presentation
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FUTURE FIRST
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Investor Deck August 2021
DISCLAIMER
This presentation has been prepared by Future First Technologies Limited (the “Company”). It does not purport to contain all the information that a prospective investor may require in connection with any potential investment in the Company. You should not treat the contents of this presentation, or any information provided in connection with it, as financial advice, financial product advice or advice relating to legal, taxation or investment matters. No representation or warranty (whether express or implied) is made by the Company or any of its officers, advisers, agents or employees as to the accuracy, completeness or reasonableness of the information, statements, opinions or matters (express or implied) arising out of, contained in or derived from this presentation or provided in connection with it, or any omission from this presentation, nor as to the attainability of any estimates, forecasts or projections set out in this presentation.
This presentation is provided expressly on the basis that you will carry out your own independent inquiries into the matters contained in the presentation and make your own independent decisions about the affairs, financial position or prospects of the Company. The Company reserves
the right to update, amend or supplement the information at any time in its absolute discretion (without incurring any obligation to do so). Neither the Company, nor its related bodies corporate, officers, their advisers, agents and employees accept any responsibility or Liability to you or to any other person or entity arising out of this presentation including pursuant to the general law (whether for negligence, under statute or otherwise), or under the Australian Securities and Investments Commission Act 2001, Corporations Act 2001, Competition and Consumer Act 2010 or any corresponding provision of any Australian state or territory Legislation (or the Law of any similar Legislation in any other jurisdiction), or similar provision under any applicable law. Any such responsibility or liability is, to the maximum extent permitted by Law, expressly disclaimed and excluded. Nothing in this material should be construed as either an offer to sell or a solicitation of an offer to buy or sell securities.
It does not include all available information and should not be used in isolation as a basis to invest in the Company.
FUTURE MATTERS
This presentation contains reference to certain intentions, expectations, future plans, strategy and prospects of the Company. Those intentions, expectations, future plans, strategy and prospects may or may not be achieved. They are based on certain assumptions, which may not be met or on which views may differ and may be affected by known and unknown risks. The performance and operations of the Company may be influenced by a number of factors, many of which are outside the control of the Company. No representation or warranty, express or Implied, is made by the Company, or any of its directors, officers, employees, advisers or agents that any intentions, expectations or plans will be achieved either totally or partially or that any particular rate of return will be achieved. Given the risks and uncertainties may cause the Company’s actual future results, performance or achievements to be materially different from those expected, planned or intended, recipients should not place undue reliance on these intentions, expectations, future plans, strategy and prospects. The Company does not warrant or represent that the actual results, performance or achievements will be as expected, planned or intended.
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US DISCLOSURE
This document does not constitute any part of any offer to sell, or the solicitation of any offer to buy, any securities in the United States or to, or for the account or benefit of any “US person” as defined in Regulation S under the US Securities Act of 1993 (“Securities Act”). The Company’s shares have not been, and will not be, registered under the Securities Act or the securities Laws of any state or other jurisdiction of the United States, and may not be offered or sold in the United States or to any US person without being so registered or pursuant to an exemption from registration including an exemption for qualified institutional buyers.
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FFT Who are we?
Future First Technologies (FFT) is a digital technology company Ownership, development and commercialisation of digital assets in significant growth markets
Highly experienced technology and commercialisation team Well capitalised to pursue a number of organic and acquisitive growth opportunities
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| ASX TICKER | FFT |
|---|---|
| MARKET CAPITALISATION (UNDILUTED) | $23.43m |
| SHARE PRICE (31 AUGUST 2021) | $0.055 |
| OPTIONS | 44m |
| OPTION CONVERSION AVERAGE PRICE | $0.08 |
| SHARES ON ISSUE | 426m |
| TOP 20 SHAREHOLDERS | 67.82% |
| STAFF SHAREHOLDING | ~54.5% |
| CASH (30 JUNE 2021) | 5.9m |
Investor Deck August 2021
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History and evolution
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Dec 2013 – ASX Listing $50.5m market cap. Information, communications technology professional services company
- 8 acquisitions – 1x 2014, 1x 2015, 1x 2016, 3x 2017, 1x 2018, 1x 2019 Revenue base – circa $89m
Nov 2018 – sells Allcom Networks $3.2m cash
- Oct 2019 – sells Security Segment to ASX:TNT - $10.0m cash & 100m TNT shares
Dec 2019 – sells Glass & Co $1.6m cash
Jan 2020 – In Specie distribution of TNT shares to shareholders
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Oct 2020 – Future First Technologies
Direct ownership and commercialisation of digital assets in significant growth markets
Nov 2020 – acquires Asset Vision
Nov 2020 - executive Team appointments
Nov 2020 – creates employee share trust
Dec 2020 – returns $7.5m to shareholders via selective share buy-back
Feb 2021 – invests a further $1.25m in fin-tech start-up 1derful via convertible note
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May 2021 – wins $2.0m Ventia contract
Apr 2020 – acquires Respring (farmbuy.com)
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Jun 2020 – Announces change in strategic focus to build shareholder value through ownership of IP
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Jul 2020 – Invests $1.25m in fin-tech start-up 1derful via convertible note
Oct 2020 – sells Melbourne Consulting Business $23m cash
Oct 2020 – Change Name to Future First Technologies
Jun 2021 – converts 1derful convertible notes to equity representing an 8.8% holding
Jul 2021 – acquires EagleSoft , adding intelligent data capture to Asset Vision
Aug 2021 – farmbuy.com signs partnership agreement with Farm Gate Auctions
Aug 2021 – New strategy in place
Investor Deck August 2021
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FY21 Results
Key Achievements across FY21
Successful divestment of Melbourne Consulting Business for $23m cash Returned $7.5m to shareholders by way of a selective share buy-back
Strengthen Board and senior executive levels to align capabilities to new strategy
Completed the acquisition of Asset Vision and grew ARR by 30% in first six months of ownership
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farmbuy.com audience numbers grew by >100% YoY and launched marketing services sales program signing first ongoing paid advertising partnership
Secured $2.5m strategic investment in fin-tech start-up 1derful representing an 8.8% equity stake
Finished the financial year with $5.9m in cash and zero debt on Balance Sheet
Asset Vision won multi-year, multi-million dollar, deal with Ventia
Investor Deck August 2021
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FY21 Results
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FY21 Summary Financials (continuing operations)
Revenue
Asset Vision $1,412,626
farmbu .com
y $69,797
Other $1,060,757
Total Revenue $2,543,140
EBITDA -$3,566,060
Employee Benefits $3,519,681
Other Expenses from ordinary operations $2,322,248
Underlying (continuing operations) EBITDA -$1,665,969
Cash Balance 30 June 2021 $5,932,518
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1. $923,776 ARR – (growth of 30% post acquisition) 2. Revenue generated in backend of FY21 – (FY20 Revenue $2,282)
3. Includes JobKeeper Scheme payments of $780,000 and interest of $227,757
4. Includes $2,048,910 of one-off and non-cash items: Employee share scheme and Options- $1,870,920 Staff Redundancies - $177,990
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5. Operating expenses were considerably reduced in the period in line with change in strategic direction and includes $466,436 one-off corporate restructuring costs
Also includes $387,500 of transaction costs 6. Excludes one-off, non-recurring revenues and expenses plus transaction costs 7. Strong cash position at 30 June 2021 with zero debt on balance sheet and trade creditors at 30 June 2021 of $415,243
Notes: All key employees hold shares in FFT as part of overall retention strategy; All R&D expensed through P&L
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FFT Leadership Team
Experienced technology focused Board of Directors and Senior Leadership Team.
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Renata Sguario Chairman
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Damian Smith Asset Vision CEO
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Nick Chan
Non-Executive Director
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Royce Zygarlicki Farmbuy Head Of Sales
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Nicole Ferro
Non-Executive Director
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Lucas Murtagh Head Of Strategy
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Keith Falconer
CEO & Executive Director
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Chris Wignall Asset Vision Head Of Sales
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Vesna Jelesic
CFO & Company Secretary
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Paul Fielding Mergers & Acquisitions
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Investor Deck August 2021
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“Revolutionising the way roads and assets are inspected and maintained making
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for safer and more reliable journeys for our communities’’
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Asset Vision – An Intelligent Asset Management Platform
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Intelligent Enterprise Asset Field Service Business
Data Capture Management Management Intelligence
(AI/ML) (EAM) (FSM) (BI)
Centralised Asset Integrated Mobile app Real time dashboard
Highly efficient, effective
and safe capture of asset Register, integrated GIS, for internal teams or and analytics, condition
inventory and pavement Maintenance and Capital Contractors with rich modeling and KPI
defects through video Work Management user experience and compliance reporting
and AI/ML
offline capability
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Asset Vision Cloud and Data Services Layer
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Platform Benefit
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Highly Scalable SaaS Platform
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Significant time and cost savings related to time spent inspecting roads across the state
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Comprehensive network data to empower network owners and maintainers to make better investment and planning decisions
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Centralised and up to date Asset Registers means all stakeholders responsible for maintaining and operating the network are on the one page
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Out of the Box Contract Management and Compliance reporting significantly reduces the cost of compliance
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Plug and play with existing systems made simple via our Cloud and Data Services layer
Investor Deck August 2021
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Intelligent Data Capture (AI/ML)
Highly efficient, effective and safe capture of asset inventory and pavement defects through Artificial Intelligence and Machine Learning techniques.
Asset Vision has recently acquired EagleSoft, an Australian company which has applied their deep cross industry experience in major infrastructure and heavy industrial sectors to develop a technology solution that automatically detects road defects and asset inventory using Artificial Intelligence (AI), Machine Learning (ML), Deep Learning (DL) and Neural Network (NN) techniques from video footage.
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Highlights
> Automatic detection of road pavement defects such as potholes, cracking and rutting through analysis of HD video
- Discovers road asset inventory such as signage, safety barriers, light poles, ITS and vegetation
Investor Deck August 2021
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Enterprise Asset Management (EAM)
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Centralised Asset Register, Integrated GIS, Maintenance and Capital Work Management
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Highlights
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Maintenance and Capital work management
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Provides collaboration between Asset Owners, Contractors and Sub Contractors.
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Comprehensive data model with granular group-based permissions.
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Built-in and integrated document, photo and video storage.
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Zero customisation approach ensures supportability and upgradability.
Investor Deck August 2021
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Field Service Management (FSM)
Integrated Mobile app for internal teams or Contractors with rich user experience and offline capability
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Highlights
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Maintenance and Capital work management.
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Latest Smart Device Technology to enable easy and effective field-based data capture.
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GPS capture of location data, visualised using Google Maps.
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Full offline capability with intelligent sync.
Investor Deck August 2021
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Business Intelligence (BI)
Real time Dashboard and Analytics, Condition Modelling and KPI Compliance Reporting
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Highlights
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Web based application to access Asset Vision data in real time.
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Mission critical information is available through simple and Live KPI Dashboards.
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View entire network compliance at a glance.
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Reporting and data analysis help make informed decisions.
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Integrates to other systems through Asset Vision Cloud Services and Asset Vision Data Services.
Investor Deck August 2021
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BY THE NUMBERS + 4M 119 , WORK ORDERS 98 784 749KM , PUBLIC ENQUIRIES ROAD MAINTAINED 500 000+ , ASSETS MAINTAINED
Our Clients
Asset Owners
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Asset Operators & Maintainers
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Total Addressable Market
“Multi-billion dollar global opportunity in roads alone” Australia Globally Roads Maintenance Spend $5.0 Billion $2 Trillion Kilometres of Roads 400K 38M Road Maintenance Crews 30K 2-3M Total Addressable Market $132M $10+B Investor Deck August 2021
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Organic revenue growth will drive margin expansion.
Annual Recurring Revenue (ARR) base with lockedin multi-year contracts with large government departments and public companies
Revenue
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$12.3M
$8.6M
$5.7M
$3.3M
$2.0M
$1.4M
FY20A FY21A FY22F FY23F FY24F FY25F
Growth 43% 66% 71% 52% 43%
Asset Vision Acquisition EagleSoft Acquisition
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Organic growth based on current clients and functionality:
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Cross selling IDC into existing Asset Vision client base
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Cross Selling Asset Vision into EagleSoft client base
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Expansion of current footprint outside of Australia
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Gross Profit
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$9.2M
$6.2M
$3.9M
$2.2M
$1.1M
N/A
FY20A FY21A FY22F FY23F FY24F FY25F
Margin 55% 65% 70% 73% 75%
Asset Vision Acquisition EagleSoft Acquisition
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Investor Deck August 2021
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Accelerating Growth
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Additional capital will accelerate growth through organic and inorganic, product-focused investments.
Current Clients
“Land and Expand” strategy within existing clients
FY22 Forecast 66% revenue growth YoY
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Adjacent markets
Expand platform delivery to new verticals (eg, maritime/ rail/airports)
Existing clients leading us into new verticals today
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Global Markets
Expand geographically through existing clients.
FY22 focus is Aus and NZ
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Acquisitions
Focused M&A strategy to add complimentary technology
Fragmented industry ripe for consolidation
Investor Deck August 2021
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Investor Deck August 2021
farmbuy.com
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“Opportunity to build Australia’s premier agricultural marketplace”
There is no Australian marketplace that provides the farmer with a “One Stop Shop” for all their agricultural needs
Market fragmented with several dominant players across multiple verticals
Expand the current farmbuy.com platform so Farmers (users) can find all their agri needs in one place through caputuring the attention of the entire rural audience
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Investor Deck August 2021
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30K SUBSCRIBERS Currently ranks #1 in key google farm search terms ~3K 4 ~~43~~
BY THE NUMBERS SUBSCRIBERS
Australia’s number one Currently ranks #1 in key dedicated rural property real google farm search terms estate web portal 160 000 ~3K 4 ~~43~~ , USERS PER MONTH AGENCIES JUL 2021 PROPERTIES 310 000 26 000 2.4K , , SESSIONS PER MONTH SOCIAL FOLLOWERS LEADS PER MONTH
LEADS PER MONTH
Our Clients
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The Opportunity
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“New verticals”
Current Platform
Future Platform
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Real Estate Livestock Clearing Sales Farm Machinery Supplies
Market Size Market Size Market Size Market Size Market Size
60M $50M $20-30M $$$M $$$M
35% AUDIENCE
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100%
Investor Deck August 2021
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Building Australia’s premier agricultural marketplace
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Audience Agent Relationships • 2.0M unique users p.a. • 420 agents • 3.8M user sessions p.a. • 25% rural listing market • 9.6M page views p.a • >25,000 leads p.a. BRAND EFFICACY BRAND LOYALTY
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Continue YoY growth in FY22 Continue YoY growth in FY22
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- Commercialisation Scalable Solution • Strong sales capability • Technology stack • Listing revenue growth • FarmGate Auctions • Advertising revenue • Management team BRAND MONERTISATION BRAND GROWTH
Increase sales conversion
Livestock Auction launch planned for spring 2021
Investor Deck August 2021
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Partnership with FarmGate Auctions
~6% of livestock sales through online platforms - dominated by AuctionsPLus - Growth >100% YoY
FarmGate Auctions provides - best of breed technology, livestock knowledge & experience, outstanding customer service and support
farmbuy.com provides – audience, industry relationships, brand equity, marketing power, sales capability
Provides opportunity to add clearing sales
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Investor Deck August 2021
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Key Highlights
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“A new way of banking, one account for everything optimised autonomously”
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Total product solution that will reframe the way consumers manage their day-today banking and finances
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Continues to make steady progress towards market launch of transaction product
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Key partners have been selected supporting product, operations and go to market
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Phase 2 product design and build is well progressed and preparation for NZ market entry has commenced
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Recruitment of key staff, board and advisory board members is occurring
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Investor Deck August 2021
Equity Conversion
Conversion timing ahead of anticipated Series A raising as 1derful nears commercial launch of their disruptive banking platform
2.5 million Convertible Notes, plus accrued interest, converted to shares in 1derful Group Pty Ltd, representing ~8.8% equity interest at time of conversion
Series A raising to fund expansion in AU and opening in new priority markets Timing of Series A is expected to be undertaken in second half of calendar 2021
Early Stage Innovation Company (ESIC) investment pursuant to Australian Taxation Office Private Ruling (Authorisation Number 1051804000929)
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Investor Deck August 2021
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Investor Deck August 2021