Key points
- Q4 FY24 customer receipts up 117% on Q3, down 5% YoY
- Net cash used in operating activities down 67% QoQ
- Received $280k placement at 0.7 cents, 75% premium to last close
- Signed MoU for renewable energy development project in Gladstone
Full summary
Simble Solutions Limited (ASX:SIS) has reported its Quarterly Cash Flow Report (Appendix 4C) and Quarterly Activities Report for the quarter ended 31 December 2024 (Q4 FY24). Key highlights include:- Q4 FY24 customer receipts totalled $463k, representing a 117% increase on Q3 FY24 receipts, but a 5% decrease compared with the previous corresponding period. - Receipts so far since the end of the quarter totalled $215k.- Net Cash Used in Operating Activities for the quarter was $(174k), down 67% compared with ($528k) for the previous quarter. The previous corresponding period reported $97k Net Cash Generated which included Government Grants and Tax Incentives of $360k.- Net Cash Used in Operating Activities for the 12 months to December 2024 was $(1,294k), which shows an improvement of 2% on the previous corresponding period of $(1,323k). Excluding Government Grants and Tax Incentives in the prior year, the improvement is 23%.- The Group had Cash balances of $322k on 31 December 2024, representing 1.86 x Estimated Quarters of Funding Available.- Received a binding commitment for $280k placement at $0.007 per share, representing a 75% premium to Simble's closing price of $0.004 on 30 January, and a 67% premium to the 15 day VWAP of $0.0042.- As part of Simble's strategic expansion into sustainability and carbon neutrality, the company has signed a Memorandum of Understanding (MoU) for a renewable energy development project in Gladstone, Queensland. The company has engaged a leading international engineering and consulting firm to develop an investment teaser for the project.
Outlook
The signing of an exclusive MoU for the development of a renewable energy hub at Curtis Island in Gladstone in Q4 FY24 is a promising new business opportunity that is expected to be attractive for new investment in the Company.