• Substantial structural completion of the Quattro Automotive Myaree and John Hughes Forward Street Projects, on schedule
• Proof-of-concept works reviewed and accepted for the Metal Deck Support System (MDSS™) and PARKD intellectual property
• Commencement of final agreement negotiations with Fielders for the licencing of the MDSS™ and PARKD IP

PARKD Ltd (ASX:PKD) reported substantial structural completion of the Quattro Automotive Myaree and John Hughes Forward Street Projects, which showcased the company's MDSS™ technology under construction loading and activity. The performance of the MDSS™ achieved the expected engineering and construction performance, significantly reducing labour on-site and improving productivity compared to conventional methods. The in-service performance of the MDSS™ and the Metal Deck Support Bracket (MDSB™) were closely observed and assessed by PARKD and Fielders, with the final results satisfying the terms of the existing heads of terms agreement. This has allowed PARKD to commence discussions on a licencing agreement with Fielders for the MDSS™ and MDSB™, with an outcome anticipated in Q3 FY25. The company also reported further technical, design, and consulting works delivered, supporting its 2H FY25 and FY26 project pipelines. The net cash from operating activities for Q2 FY25 was $277k, with cash reserves of $762k at the end of the quarter.

The company is confident in its strategy and future prospects, with the successful completion of the proof-of-concept projects and the anticipated licencing agreement with Fielders.