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June 2024 (Q4 FY24) Activities and Cashflow Report
July 31, 2024
Adisyn Ltd (ASX: AI1) (“Adisyn” or the “Company") is pleased to provide its quarterly report and Appendix 4C cash flow statement for the period ended 30 June 2024, as it continues to build on its unique technology offering and new strategic focus.
HIGHLIGHTS
- Completion of strategic review with outcomes focused on divestment of non-core assets, streamline business with focus on AI and cybersecurity, and targeting business development opportunities in the defence industry supply chain.
- Divestment of VMware cloud assets to Zettagrid to generate up to $1.4m in cash, with $850k received to date.
- Expansion of Adisyn’s Industry Advisory Board with three key appointments, bringing valuable experience in cybersecurity, defence and national security.
- Strategic partnership with Canberra-based group, Phase, strengthening Adisyns defence industry capability.
Post Quarter Highlights
- As announced on 29 July 2024, the Company received firm commitments to raise ~$1.5m via a share placement of 46 million shares at $0.033c per share
For the quarter, the Company reported cash receipts of $1,538,000, following the disposal of its VMware Cloud Platform to Zettagrid Pty Ltd on 1 May 2024. Underlying total revenue for the quarter was $1,138,000, when excluding April 2024 revenue from the VMware Cloud business sold.
During the quarter, the Company focused its attention on new strategic partnerships, expanding its technological capability, and reviewing non-core assets for potential disposal to streamline the business moving forward and provide the Company with the balance sheet strength required to execute on its business development activities.
The Company remains focused on prioritising high growth, high margin sectors to further advance it’s AI enablement and cybersecurity capabilities, including it’s collaboration with leading semiconductor IP business, 2D Generation Ltd, which aims to generate transformational opportunities in the AI space, leveraging Adisyn’s expertise in data centre management, managed IT services, and cybersecurity, alongside 2D Generation’s industry-leading capabilities in developing next-generation AI semiconductor solutions (ASX: 15 July 2024).
Click here for the full ASX Release
This article includes content from Adisyn, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
AI1:AU
31 October 2024
Quarterly Activities/Appendix 5B Cash Flow Report
16 May 2024
Advisory Board Expansion
Adisyn Ltd (ASX: AI1) (“Adisyn” or the “Company") is pleased to announce it has made threeappointments to its Industry Advisory Board (IAB); Mr Oscar Leslie, Mr Jesse Gane and Dr Craig Valli. These appointments complement the appointment of IAB Chair Harry Karelis earlier in the year (ASX: 19 February 2024).
Highlights:
- Expansion of Adisyn’s Industry Advisory Board with three key appointments.
- Appointees bring valuable experience in cybersecurity, defence and national security.
- Brings strong insights into geopolitical trends and access to relevant networks.
- National security-clearances differentiate Adisyn from its peers.
- Continued tangible progress towards positioning Adisyn as the premier, sovereign provider of managed IT services to the defence industry supply chain.
Adisyn’s advisory board serves to expand the Company’s profile, networks and service capabilities in a cost-effective manner. Each IAB member is required to provide their guidance and
recommendations to the Company’s management and board of directors for the activities of the Company which are relevant to the IAB members domain expertise. These appointments also provide the Company with personnel holding national security clearances, potentially opening new opportunities and further differentiating Adisyn from other managed IT services companies in the marketplace.
Mr Oscar Leslie
Oscar has an extensive background in the Australian National Security community and is the Co- Founder and Managing Director of Phase (www.phase.au) with whom Adisyn recently established as a strategic partnership (ASX: 6 May 2024).
Phase is a veteran-founded Australian research, development and commercialisation firm specialising in critical technology for the Defence and National Security community. Since its founding Oscar has led Phase in establishing strategic partnerships across academia, industry and government and supporting the delivery of novel solutions to end users. Oscar brings a capability- first approach to technology, layering a rich operational background in the national security
community with a passion for innovations that aim to change the way front-line personnel operate.
Mr Jesse Gane
Jesse is currently a Director of Space, Cyber, and Federal Government Services at Downer Group, managing critical contracts with national responsibilities and fostering strong partnerships between organisations, government entities, and industry partners.
Jesse has a background in the Australian Navy as a submariner with specialist communication and cybersecurity skills. He has demonstrated a commitment to delivering cutting-edge IT solutions in diverse operational landscapes. His efforts in system architecture and product delivery have left an enduring mark on naval operations, earning accolades for his commitment to excellence and innovation.
Jesse has unique insights into the interactions between commerce and government as well as the unique challenges facing small and growing companies seeking to bolster their internal systems.
Dr Craig Valli
Craig has over 35 years’ experience in the computing, information and communication technology industry. He conducts research and consults to industry and government on cybersecurity and digital forensics matters. Along with being the inaugural Director of the Edith Cowan University (ECU) Security Research Institute, he was also the research director and lead academic for the Australian Cyber Security Research Institute that resulted in the AU$140 million Cyber Security Co- operative Research Centre (CSCRC) that is now headquartered at ECU Joondalup Campus. He is a former member of the INTERPOL Cyber Crime Experts Group as well as the INTERPOL Digital Forensics Expert Group. Craig has over 150 peer reviewed academic publications in cybersecurity and digital forensics.
As consideration for their roles and to align the interests of each IAB member with that of shareholders, each appointee will be granted 1,000,000 options with an exercise price of $0.03 and a three year expiry date from the date of issue. These options will vest on the 12 month anniversary of each appointee being appointed to the IAB, and the issue of the options will be subject to shareholder approval at a future shareholder meeting of the Company.
The Company continues to remain focused on preserving it’s cash balance, and no ongoing cash consideration will be payable as consideration for each IAB members duties beyond specific project work (if any), which is subject to agreement between the IAB member and the Company on a case- by-case basis and will be paid at a per diem rate.
Adisyn’s Managing Director, Blake Burton, stated: “We are delighted to have attracted advisors of the calibre of Oscar, Jesse and Craig to our advisory board. We are laser focused on implementing new growth strategies for the Company to deliver an expansion in our sovereign capabilities to small and medium sized businesses interacting with Defence. These appointments sit alongside a series of strategic partnerships to position Adisyn as the go to provider of key services to this segment of the market We look forward to leveraging the combined networks and insights of the IAB to bolster the growth ambitions we have for Adisyn.”
Click here for the full ASX Release
This article includes content from Adisyn, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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