333D Traded Flat – Reported FY18 Net Loss of $2.49m Lately

Loss After tax declined by 56% in FY 18: 333D Ltd (ASX: T3D), has strengthened its strategic position during the financial year 2018 after the company secured the additional licenses to print and promote sportspersons across several popular sporting categories. The key milestone sporting events, such as the International Cricket World Cup in 2019, and the continued growth of the popularity of AFL and NRL, will offer opportunities to the company to expand its sales revenue in future periods.

Meanwhile, for FY 18, T3D’s loss after tax declined by 56% to 2.49 million on the back of rise in revenues, the R&D tax offset refund and due to the prior year absorption of costs related to a listing on the Australian Stock Exchange through a reverse takeover transaction. For FY 18, T3D has reported 28.1% rise in sales revenue to $482,367. This is due to the sales of Australian Football League (“AFL”) figurines through the mini league platform,  the sale of bobbleheads through its respective channels, and the consulting work and the 3D printing of parts to customer specification. Subsequent to the end of the FY 18, T3D had received a cash rebate of $1,207,000 under the Australian Federal Government’s R&D tax incentive program, which is related to the claim for the FY 18. This has significantly improved the cash position of the company. During July 2018, T3D received short term loans from parties that are related to Mr Conidi, totalling $150,000.  

After the receipt of the R&D tax incentive rebate, the company repaid $50,000 of the short term loans on 1 August 2018. Further, on 1 August 2018, the company had repaid two loans that were outstanding as at 30 June 2018. These was a $114,000 loan owed to a related party and a $100,000 loan owed to an external party. Both loans were repaid in full along with accrued interest up to 1 August 2018. Moreover, the company’s net cash outflows from operations fell to $1,070,249 during the FY 18 versus outflow of $3,001,205 in 2017. As at 30 June 2018, the company had cash and cash equivalents of $17,596 (2017: $175,582) and total debt liabilities of $1,622,558 (2017: $1,267,677), including the lease liabilities. The company in FY 18 had raised cash of $525,000 through a placement to sophisticated investors of 105,000,000 shares at $0.005 per share. T3D had secured additional sources of debt to service the cash outflows, which was related mainly to the establishment of a convertible note facility. The company plans to continue to finance the operations through debt funding and capital raising when there is an opportunity to do so. In addition, T3D got mini league orders of total 590 units for July and 880 units for August. In total, T3D has reported mini league revenue circa $103,000 for the two months ended 31 August 2018. The company has also billed $40,187 in consulting services in August. The company expects monthly unit sales of mini league products to reach circa 2,000 units per month by the end of the FY 19. As a result, the stock has risen 50% in three months as on September 27, 2018.

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