• Reece O'Connell appointed as Non-Executive Director
• Progressed US market-entry, commenced NZ reporting, and increased information security compliance
• Strong sales activities momentum in Q2-25

Identitii Ltd (ASX:ID8) released its Appendix 4C for the three months ending 31 December 2024 and provided an update on its progress during the period. Key highlights include the appointment of Reece O'Connell as a Non-Executive Director, progress in the US market-entry through acceptance into the Investment NSW Program, commencement of reporting New Zealand transactions to the NZ regulator, and the start of SOC 2 information security compliance for the US market. Sales activities momentum in Q2-25 remained strong, and the company renamed its platform to BNDRY and launched a new website. The company raised $1.8M in a well-supported placement and had a stable quarter-on-quarter in payments to suppliers and employees of $1.22M. After the quarter end, the company received a $0.5M annual licence fee from Mastercard and a $1.0M R&D tax incentive rebate from the ATO, and renewed its R&D loan facility for FY25.

The company expects a significant increase in customer receipts in Q3 FY25 as a result of customer contract renewals, with $0.5M already received subsequent to quarter end.

The directors believe the company will be able to continue its operations and meet its business objectives in light of the increase in customer receipts and the $800,000 R&DTI loan received subsequent to quarter end.