Dotz Nano Limited (ASX: DTZ), is an information technology company, focused on developing and marketing advanced materials used for tracing, anti-counterfeiting and product-liability solutions.
The company’s unique products ValiDotz, BioDotz, Fluorensic and InSpec are significant solutions to applications like oil and gas industry, anti-counterfeiting, brand and reputation protection, lubricants and DEF authentication, polymers tagging and bio-imaging and liquids tagging.
The company published its quarterly report for the quarter ended March 2019. Below is the consolidation from this report with other major highlights:
- Net cash used in operating activities amounted to US$645k.
- The net cash from financing activities stands at US$564k.
- The total cash and cash equivalents for the quarter stood at US$430k.
- The total estimated cash outflow for the next quarter is projected to be US$741k.
- The company has signed purchase orders worth A$430,000 to end customers, to focus on commercialisation in key markets.
- The research and development team successfully completed the new line of InSpec app-based detectors in this quarter, which are presently undergoing tests by potential end customers as part of an end-to-end anti-counterfeiting solution.
- As part of focusing on the anti-counterfeiting within the plastics and polymers industries, DTZ is scheduled to exhibit at a leading plastics conference in May 2019.
- There was also a change in the Board of Directors, with Steve Bajic resigning as a Non-Executive Director. Eran Gilboa was replaced by Mr Tomer Segev as the Chief Financial Officer early this year, in January.
- Dotz raised A$850,000 in Q1 2019 through convertible loans to founding shareholders and a sophisticated Asian-based investor.
As per its previous reports, the group reported a loss of $5.73 million for the year ended 31 December 2018, compared to $4.73 million in December 2017.
Besides the quarterly report, DTZ also made another announcement on Wednesday, 1st May 2019, stating that the group has been successful in raising $1.5 million through a share placement, to sophisticated and professional investors. This placement consists of an offer of 25 million fully paid ordinary shares in Dotz Nano at an issue price of $0.06 per share, which is inclusive of a 1 for 2 attaching unlisted option, exercisable at $0.085 each for a validation period of two years. The amount was invested by the current major shareholders and a new strategic investor, Lions Investments Ltd., who holds the appropriate experience and strong relationships in Dotz’s target markets. Apart from the two purchase orders announced earlier this year in the plastics and lubricants markets, this capital raised adds on to be a proof of Dotz’s strategic direction and future prospect being optimistic and growth centric. The settlement of new shares issued under the Placement would take place on May 3, 2019, and regular trading of these shares would commence in the next week, on May 6th.
Earlier this year, in January, DTZ had made a commercial sale of its ValiDotz for a total consideration of A$300,000.
Stock Price Information:
At market close on 1st May 2019, the share price of DTZ was $0.064, and it traded down by 13.514% as compared to its last trade.