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The testing showed ECS-DoT could complete a full ‘sense–think–act’ loop at 50 Herz (Hz) in PX4/Gazebo Hardware in loop (HIL) tests – meaning the chip is able to process flight data and adjust propeller output 50 times per second (50 Hz) in real-time simulation tests.

This is fast enough for many real-time control systems, facilitating the rapid feedback for stable flight; on this basis, it can be said the chip supports stability in several environments, providing flight time improvements of up to 30%.

The purpose of ECS-DoT is for use in advanced on-board, ultra-low-power AI tasks such as inspection and precision landing, while also being designed to use less power than a typical digital watch (<1 mW).

Nanoveu said the next step in its assessment will involve ECS-DoT learning and optimising its own flight strategies through advanced, adaptive-AI techniques; final results from the testing are expected at the end of June, using the PX4/Gazebo platform1 and hardware-in-the-loop (HIL) testbenches.

The completion of this testing will kick off live drone trials.

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EMASS founder Dr Mohammed M. Sabry Aly said the testing had underlined the value of this chip. “This 50 Hz milestone proves ECS-DoT can handle real-time, high-frequency control loops with extreme energy efficiency,” he said.

“It’s a crucial first step toward transforming drones into smarter, longer-flying platforms that can perform complex tasks without cloud dependence or battery trade-offs.”

NVU has been trading at 4.9 cents.

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The windfall, ReadCloud said today, mostly came from strong organic revenue growth.

That growth was up 13% to $9.2M, while operating costs were up only 1%.

The company – which specialises in providing eLearning software to educational institutions – said VET-in-schools (the provision of vocational programs to secondary students in schools) had accounted for 32% of revenue growth, compared to the prior comparable period, with this revenue category now set at $3.8M.

Growth was also observed in the number of institutions now using ReadCloud’s technology platform: 62 new school customers joined for the 2025 school year, for a total of 429.

“Our first half results demonstrate ReadCloud’s transformation and operating leverage,” CEO Andrew Skelton said. “The 73% increase in underlying EBITDA validates the execution of strategy by ReadCloud’s motivated team.

“In particular, VET-in-Schools delivering revenue growth of over 30%, retention of 94% and gross margins above 90% indicates strong product-market fit and our ability to successfully capture the significant opportunity.”

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ReadCloud reported an operating cash flow of $1.9m generated in 1H FY25, a strong balance sheet with $3.5m of cash and no debt as of March 31.

RCL shares have been at 14 cents after a 27.7% rise since the market opened.

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The approval – first achieved through its partnership with Union MediScience – will see ReNerve enter a Middle East and North Africa market valued at more than US$80 million per annum, and which is also experiencing significant (35%) growth.

ReNerve and Union MedScience will work together to commercialise the NervAlign Nerve Cuff in Bahrain, with a view to entering the markets of other countries across the region using data generated from early cases.

This builds on the exclusive distribution partnership already agreed upon by the two companies – announced in December 2024 – in which UnionMediScience was granted the rights to market and sell NervAlign Nerve Cuff in Bahrain, Saudi Arabia, Kuwait, the United Arab Emirates, and Qatar.

Director Dr Julian Chick said the Bahrain approval was an important first step for its goals across the Middle East. “The ReNerve team has done a great job… working with the wonderful people at Union MediScience has been excellent.”

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He added: “We look forward to the commercialisation in Bahrain and further expanding our sales and marketing efforts in the region.”

RNV shares have moved up 9.5% since open, to 11.5cps.

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The clients, Roy Hill and Pilbara Minerals (ASX:PLS), have signed up for 12 months; the former was already the first mine with entertainment and engagement solution Swift Access.

This product includes a low bandwidth entertainment feature, which enables early-release access for sought-after movies and other communication tools.

Roy Hill has previously implemented Swift Access at its personnel village in 2022 and will now become the first client to roll out the next generation (Swift Access 2025), with the rollout to begin later in April.

Pilbara’s renewal will mean another 12-month subscription to Swift’s products.

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Swift CEO Brian Mangano said the renewals were a testament to the quality of the services on offer in the communication package. “We are very pleased to continue to work with Roy Hill to create and develop the best entertainment and engagement experience for their team on site,” he said.

“The continuation of our subscription agreements with Pilbara Minerals and Roy Hill also reinforces the demand for Swift’s reliable and value-for-money village entertainment services across the mining sector.”

Swift has been trading at 1cps through this red Friday.

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This deal was never really in doubt for the AI-driven sales enablement platform provider, as it was backed by 30% stake-holding institutions – Regal Funds Management and SQN Investors.

Those institutions wanted the Vector cash-out deal, despite there being a higher-priced option on the table from Investcorp AI Acquisition Corp (IAAC SID), that could have seen the company on a path to the Nasdaq. That offer valued shares at more than double Vector’s price – at about 48c.

What disappointed smaller shareholders may not realise (and there are many) is there’s a clear link between SQN and Vector – and I’ll get to that in a moment.

You’d think the 48-cent offer would be a no-brainer over a 22c deal right?

But despite already carrying a huge loss – having bought into BTH at around 80c a share – Regal Funds Management and SQN wanted cash for their holdings, rather than Investcorp’s higher value share-based takeover option.

That option – and the chance of Nasdaq success – is what many smaller shareholders preferred, even though BTH’s management understood that the Investcorp offer provided ‘less certainty.’

The bottom line is institutional investors did not want to accept Investcorp’s offer.

SQN Investors bought at 80c and now they’ll be selling to Vector Capital at 22c. 

Overall, the deal values the company at A$183 million and will see BTH leave the ASX.

BTH is believed to have been one of the biggest AI players on the ASX, achieving as much as 25% of its revenue directly from AI products.

David Keane says the Vector purchase is proof that big U.S. investors will invest into a successful Australian company.

And maybe not all BTH’s knockers might really think poorly of the company and its potential.

Those knockers include the founder of SQN Investors, Amish Mehta. SQN is one of the institutions with the voting power that confirmed the Vector Capital deal.

Case in point: SQN’s Mehta was quoted slagging off BTH in the AFR on December 6, when he said: “Of the 110 investments SQN has made, this is the single worst.”

Well, that was two months after he signed up to work for Vector Capital in the role of MD, and as a member of its Investment Committee.

A committee that already liked BTH enough to want to buy it and had been discussing a takeover since last June.

A committee that must have believed it could make a good buck here and pretty quickly (watch closely because some insiders are thinking this company might realise a far higher value in the number of years you can count on one hand!).

A committee that could get the vote from big institutions with skin in the game – SQN alone was already holding more than 9%.

Mehta is – in a way – both the seller of BTH and buyer. Through Vector he’s now seizing the opportunity that was SQN’s failed investment!

Vector Capital – which Mehta now leads – has invested in and sold out of significant businesses, including Rocket Lab USA, which is an aerospace manufacturer and now trades on the Nasdaq making Vector one of the leading tech-focussed private equity (PE) investors.  

As for Regal, which had been a strong supporter of Bigtincan since before its IPO, Keane says: “The common view is that due to the change in market conditions away from growth-oriented tech, together with the need for Bigtincan to continue to invest in AI, meant that ASX institutional investors felt that a strong global investor was needed to drive the company to the next level.”

David Keane and his management team have been promised their roles will continue and they’ll get to guide the strategic direction of the company and serve their customers. 

Keane understands Vector Capital plans to expand the Hobart-based AI team, and he hopes this investment in Australia will continue.

“This deal is important because it shows that Aussie technology can be world-leading,” he said.

“We can build great companies by focusing on the core product offering and can find a way to move internationally from a public company base.

“The deal allows Bigtincan to accelerate innovation and product development without the constraints of public market pressures, ensuring continued investment in AI, automation, and platform enhancements.

“The market is at a pivotal moment, with AI reshaping the future of sales enablement. This deal ensures Bigtincan has the resources and strategic flexibility to lead this transformation while competitors face financial constraints.

“While in some ways it’s bitter-sweet to leave the ASX – I have to acknowledge that Vector Capital’s investment validates Bigtincan’s long-term potential, ensuring it remains well-funded for future growth. It provides certainty.”

Bigtincan has celebrated its share of success in the marketplace. 

Its customers include global enterprises, including 100 of the Fortune 500, from Nike, Seek (ASX:SEK), and GUESS to AT&T, Prudential, Merck, Red Bull, and Starwood Hotels.

Bigtincan has been named in the Top 25 Companies in Sales Enablement for 2024 by The Software Report. And, CEO David Keane was listed as one of the Top 25 Executives in Artificial Intelligence.

Bigtincan is the first enablement provider in the Microsoft 365 “Works With Copilot” app store. 

It has a suite of AI capabilities under the GenieAI umbrella, which spans the entire platform and includes Genie Assistant, SearchAI, AuthoringAI with translation, MeetingsAI, CoachingAI, and RolePlayAI.

Building and growing Bigtincan has seen David Keane and his Board face many challenges.

“Many things would have produced different outcomes,” he said.

“Certainly, the challenge of needing to invest ahead of the market in new technologies, and the results of the required capital raising in 2024, will only be judged in future years.

“It could prove to have been a mistake, however, it could also prove to be the beginning of what creates a significantly more valuable business under the Vector umbrella.”

While investors love to see the value of their shares skyrocket and gain the windfall that can come from selling into a spike or on an upward trend, it may become overvalued in that process and that’s likely outside the direct control of company management.

In the case of BTH, if you got caught in the hype, and you bought at a peak that never returned, it could be a very painful experience. In August 2021, BTH traded at $1.36, with many who purchased during the run making significant returns.

There are also some not-so-happy traders who bought BTH at the wrong time.

For full disclosure. I was one of those shareholders.

So, I guess I’ve been well qualified to write this.

BTH last traded at 22cps.

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On Wednesday, Wise Tech released the partial review, in which it was noted – in point 4A of the appendix – that Mr White’s disclosures to the board about the nature of this relationship were ‘not fully transparent’, and misleading in terms of matters connected to the end of the relationship.

A later point noted that the employee had launched a complaint of unlawful discrimination against White and Wise Tech, but that this was not substantiated by the evidence available, which had included renumeration records, correspondence, interviews with other employees, and comparison of renumeration to this employee and others at Wise Tech in similar positions.

A further complaint that the employee – dubbed ‘Person A’ – that they had been required to work unreasonable and excessive hours, was likewise found to be unsubstantiated.

The employee in question did not participate in the board review, and was not interviewed.

Alongside this were findings related to a Person B – who is associated with a supplier to Wise Tech. Here, the review found that White had failed to inform the board in a timely manner of his knowledge of a dispute raised with him by Person B connected to the supplier arrangement.

He also failed to disclose complete information about his personal relationship with Person B, and it was noted that a commercial relationship had been entered into by White and Person B, even though ‘there were undisclosed conflicts of interest between the interests of WTC and the private interests of Mr White’.

The review was announced on 24 October 2024, when Herbert Smith Freehills and Seyfarth Shaw LLP were appointed to advise the Board on allegations appearing in the media in relation to the company and its co-founder Richard White, who had stepped down as chief executive that day.

Mr White – who remains Executive Chair of the company – was allowed to respond to the findings, and said that ‘while those matters were personal in nature, with the benefit ofhindsight he would have more fulsomely disclosed them to the Board and handled thecontracting process differently’.

He accepted the findings, and said he supported a new and more stringent Code of Conduct connected to the matters considered.

In terms of the Board’s response to these findings, they highlighted a review to the ‘aforementioned Code of Conduct, and the plan to appoint an additional independent director as a matter of priority which will allow the Company to comply with its obligations under the ASX Listing Rules.

Mr White’s role in the company was underscored by comments in the Board statement about the ‘exceptional knowledge and value’ that he brings to ‘strategy, product, customers and shareholders’. Thus, it appears he will remain in-play at Wise Tech, with no serious action taken against him.

Wise Tech shares rose after the news, and at 11:08 AEDT, they were trading at $84.92 – an increase of 0.15% since the market opened.

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This extension focuses on AI software that uses Dell Technologies to power high-end infrastructure design and dedicated AI appliances for real-time processing – with this underscoring both the company’s partnership with Dell and its achievements with AI technology.

Crucially, Vection argues the product central to this new contract has a proven record of boosting national security through the involvement of AI in increased data enrichment, retention, and correlation.

Managing director Gianmarco Biagi said this development highlighted Vection’s reputation within the defence sector.

“This $4 million extension highlights the confidence our partners have in Vection’s capacity to deliver advanced, AI-driven solutions for national security requirements,” he said.

“As we build upon the original scope with AI and additional XR elements, our team remains dedicated to providing robust, scalable, and compliant technologies that address the evolving challenges of the defence sector.”

At 12:42 AEDT Vection shares were trading at 3.4 cents – a rise of 6.25% since the market opened.

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Based in Tennessee, Amaero produces high-quality C103, refractory alloy, and titanium powders for additive and advanced manufacturing of components that are used by the defence, space, and aviation industries.

It received the loan (which amounts to US$23.5M) as part of EXIM’s Make More in America initiative (MMIA) – established to address what the bank refers to as ‘the longer term weaknesses in our nation’s supply chains.’

After a detailed loan approval process which began in January 2024 and included internal underwriting, transaction review, and credit committee approval, as well as engagement of third-party consultants, Amaero received final and unanimous approval for the loan from EXIM’s bipartisan board of directors.

“Non-dilutive, U.S. government-funded support is an important signal to the market that validates the alignment of Amaero’s strategy and capability with the United States’ priority policy initiatives,” Amaero chairman and CEO Hank J. Holland said.

“Amaero has intentionally pursued a corporate strategy that addresses critical gaps in U.S. domestic manufacturing and supply chain capabilities.

“Improving the resiliency and scalability of domestic manufacturing throughput is an imperative for both national security and economic prosperity.

“After decades of offshoring manufacturing to lower cost countries, the United States has atrophied domestic manufacturing capability, has created critical vulnerabilities in domestic supply chains and has lost approximately 7.1 million skilled, highly-paid manufacturing jobs.”

He added that gaining unanimous approval from the bank’s board of directors was an important achievement.

This loan is the sixth provided under the MMIA, and the first of this kind to support advanced materials and additive manufacturing.

It was awarded specifically to Amaero Advanced Materials & Manufacturing Inc. – a wholly owned U.S. subsidiary of Amaero.

Amaero has been trading at 33 cents.

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Wisetech has agreed to acquire the Sydney-based company, arguing ImpexDocs’ functionality would add value to its family of compliance, trade, and logistics products.

ImpexDocs’ main offering is a software suite that allows export supply chain executives to manage processes and documentation in international trade – including sales and purchase orders, through to shipping and compliance – in addition to providing visibility of the status of orders, shipments, and contracts.

The company has both regional and international reach, with clientele throughout Australia, New Zealand, and the United States.

Per the agreement, ImpexDocs would remain under the leadership of its founder Manish Desai, and customers would still be able to access its solutions.

Wisetech CEO Vlad Bilanovsky said the company would be an important addition.

“The acquisition of ImpexDocs brings proven GTM capability to WiseTech’s solutions as well as a team of domain experts in global trade execution and compliance,” he said.

“This will help accelerate ongoing product development within digital documentation – one of our six priorities to extend the CargoWise ecosystem.”

The acquisition sets Wisetech up to start 2025 on a positive note following last year’s resignation of CEO Richard White amid media scrutiny and accusations of misconduct, of which he was cleared by an ongoing review.

At 12:45 AEDT, Wisetech was trading at $126.59 – a fall of 0.1% since the market opened.

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In the first case, CBL has acquired a 20% stake in Neuro Elite Athletics, the company responsible for NeuroBounce – a unique computerised electromyography (EMG)training solution which enables an increase in vertical leap by five to 15 centimetres and enhances explosiveness in only eight sessions, with suitability for basketball, volleyball, and football athletes.

NeuroBounce uses CBL’s technology exclusively, and the latter’s investment – which represents $250,0000 – is intended to speed up the rollout of this program across U.S. markets. The projected revenues for NeuroBounce are also promising, coming in at US$25,000 annually for each program.

CBL has also entered a Memorandum of Understanding (MoU) with Stroke Lab, a Tokyo-based rehabilitation facility, to facilitate the localisation of its NeuroStrip technology for the Japanese market.

The MoU includes a framework for a joint operating agreement to be reached in the first quarter of 2025, which would boost CBL’s footprint in the Japanese rehab market, building on Stroke Lab’s extensive industry network.

NeuroStrip – launched in 2023 – is a wearable device that detects and amplifies muscle signals, and turns them into commands that allow users to control computers, smartphones, and other assistive technology.

The goal in both is to leverage this technology to boost improved sports performance, patient outcomes, and provide the platforms for expansion into other markets.

CBL has been trading at 6.5 cents through Monday morning.

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Concrete Playground advises users on various events, experiences and trends in cities including Sydney, Melbourne, Brisbane, Auckland, and Wellington. Vinyl sees its platform as complementing another branch of its business, youth publisher Brag Media, but bringing in a more diverse customer base.

Another key attraction is revenue, which in the past 12 months amounted to more than $4 million; this is expected to contribute a pro-forma EBITDA of $1.5 million after the deal, which will entail Vinyl taking on 100% of Concrete Playground’s issued capital for $3.5 million in cash and $1.5 million in shares.

As part of the acquisition, Concrete Playground CEO Rich Fogarty will leave the company to pursue other opportunities but will remain in place until the deal is completed to ensure a smooth transition.

Vinyl Group CEO Josh Simons said he was looking forward to securing this prime acquisition.

“We are looking forward to working with Rich and the Concrete Playground team to complete this acquisition in early 2025,” he said.

“They’ve built a trusted platform that audiences genuinely love, and their approach to storytelling will be a natural fit with our broader media strategy.

“Operationally, this acquisition will be significant for Vinyl Group — it would not only elevate our capabilities but also fast-track our path to sustained profitability, allowing us to deliver even greater value to our shareholders and partners.”

Investors seemed impressed by the news, and at 12:48 AEDT, Vinyl was trading at 11.3 cents – a rise of 7.14% since the market opened.

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Crucially, the study shows the company’s two zeoteCH₄ products are able to achieve a mean efficiency of between 70 and 85% in reducing methane emissions, with these results being taken from simulated landfill configurations.

Zeotech’s zeolite-based products also show a much more impressive performance than the third configuration containing methanotroph inoculum-only, which did not show any ability to reduce methane emissions.

These studies arise from recognition of methane’s status as the second most significant greenhouse gas (GHG) with a 100-year global warming potential 28 times greater than carbon dioxide and landfills release just under one billion tonnes of atmospheric CO₂-e methane per annum.

Dr Chris Pratt from the Australian Rivers Institute at Griffith University’s School of Environment and Science, said that this early-stage work had provided optimistic expectations.

“Griffith University values its technical partnership with Zeotech and the positive outcomes we have achieved over the past two years, culminating in these promising early pilot-scale field results averaging 70-85% methane removal over the September to November period, further validating the potential for zeoteCH₄® technology to control methane emissions,” said.

“We look forward to working closely with Zeotech and Cleanaway to progress to the nextphase, targeting on-site landfill trials in 2025.”

Zeotech has been trading at 5.1 cents through Tuesday morning.

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The executives said the sale – which represents less than 4% of their respective shareholdings – had involved approaches from various institutions, and confirmed they would not be selling any more for the foreseeable future.

The price used for conduct of the sale was $256.73 – Pro Medicus’ last closing price.

Dr Hupert and Mr Hall continue to be the medical imaging software company’s largest shareholders, holding more than 24 million shares each. Their combined stake in Pro Medicus remains at 46% after the sale.

Board chairman Peter Kempen AM said “this sale of shares by the founders is part of a progressive sell down, which provides prospective shareholders with the opportunity to invest in the company and ultimately will increase the “free float”.”

Pro Medicus has been trading at $256.73 this morning.

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The funding was awarded by the state gov’t under its Lower Carbon Grants Program Gorgon Fund, established this year to inject cash into local innovations and projects supporting decarbonisation.

Hazer has been told the grant is approved, subject to the execution of a Financial Assistance Agreement and Project Plan (which are substantially complete).

The project in question is Hazer’s reactor technology – the first iteration of which was installed in the company’s Commercial Demonstration Plant in 2023, with its test completed ahead of schedule this year.

The funding will advance the performance program of the commercial scale reactor at the CDP, which is capable of large-scale application of single train capacity of up to 40,000 tonnes per annum.

CEO and managing director Glenn Corrie said the funding was indicative of the value of Hazer’s initiatives in the climate change space. He said: “Government support plays a vital role in advancing the development of technology solutions in the fight against climate change.”

“We gratefully acknowledge the support of the Western Australian Government and the Gorgon Joint Venture for providing the funding to progress the important next phase of technology scale-up to commercialise Hazer’s novel Western Australian technology.”

Hazer has been trading at 39 cents.

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Given PRC’s status as one of Western Australia’s largest providers of diagnostic imaging services, this commercial contract represents a significant achievement for 4D Medical’s expansion plans, and was made possible after the two companies engaged in talks following the Royal Australian and New Zealand College of Radiologists (RANZCR) Annual Scientific Meeting.

At the meeting, 4D Medical received a suite of positive feedback upon presenting information to PRC’s chest radiology team about XV Technology’s clinical benefits – in particular its unprecedented functional lung imaging.

According to the resulting contract – which runs to September 30, 2025 – referring doctors will be able to order both CT LVAS ventilation reports through widely available Computed Tomogrophy (CT) imaging infrastructure, as well as XV LVAS ventilation reports via fluoroscopy.

Founder, managing director and CEO of 4D Medical Andreas Fouras said he was pleased to announce the company’s partnership with PRC.

“This collaboration underscores the value and demand for XV Technology in enhancing respiratory diagnostics,” he said.

“The engagement with PRC following our presentation at the RANZCR Annual Scientific Meeting highlights the growing recognition of 4DMedical’s innovations among radiologists and healthcare providers alike.

“We look forward to supporting PRC in delivering world-class respiratory care to the Perth community. With back-to-back commercial wins with UCSD and IPOC, our commercial operations are clearly building momentum.”

Late last month, 4D Medical announced commercial contracts to provide lung imaging technology to US-based Imaging Partners of Orange County (IPOC) and UC San Diego (UCSD) Health – the latter being one of the United States’ top 10 hospitals for respiratory care.

4D Medical saw its shares shift upwards on the news, and at 13:48 AEDT, they were trading at 50 cents – a rise of 8.70% since the market opened.

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The contract – which will stretch over 10 years – was signed between PME subsidiary Visage Imaging and Trinity Health, which is responsible for 93 hospitals, 107 continuing care locations, 142 urgent care locations, and various other services across 26 U.S. states.

It will involve the implementation of the company’s cloud-based Visage 7 Enterprise Imaging Platform, including Visage 7 Open Archive and Visage 7 Workflow modules across Trinity’s health care system, following a transactional licensing model.

As part of this process, Visage will help Trinity migrate from its legacy PACS system (made up of 9 vendors) to Visage Open Archive. Enterprise distribution of images will be provided by Visage 7 to Trinity’s electronic health record (EHR).

PME chief executive Dr Sam Hupert said the contract was an important step in boosting awareness of the company’s products.

“Trinity Health is our largest customer to date and the first with a national footprint,“ he said.

“Our initiative with Trinity Health is noteworthy for its’ scope and scale which will see the Visage 7 platform used by over 650 Radiologists and thousands of clinicians who will benefit from the proven differentiation of Visage 7.”

PME shares have moved upwards following the news, and at 15:08 AEDT, they were trading at $245.35 – a rise of 7.42% since the market opened.

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The contract – which will last for 5 years and is valued at $3.7 million – will enable the various health service entities grouped under Peninsula to access leading technology supporting results management, patient records access, and patient flow management.

As such, it is expected to lessen the administrative burden on frontline hospital staff.

Alcidion CEO and managing director Kate Quirke said the technology would support patients and families Peninsula’s hospitals and clinics across the Frankston and Mornington Peninsula region.

“This deal represents a meaningful step forward for patients and families seeking healthcare in southern Victoria,” she said.

“As part of the Contract, Alcidion will implement an electronic patient flow management solution, which includes a real time user interface showcasing demand, capacity, predicted availability, and tracking for all admitted and emergency patients within all Peninsula Health sites, integrated with the existing electronic medical record.

“We are leading a new frontier of innovative and measured healthcare with the Peninsula Health team, which addresses some of the most pressing healthcare challenges of our time – availability and accessibility.”

Alcidion shares moved up on the news, and at 16:35 AEDT, they were trading at 6.6 cents – a rise of 8.2% since the market opened.

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The Wellinton-based company – which provides accounting software – also said earnings growth had been supported by a 25% rise in operating revenue (to $996 million), and an operating expense to revenue ratio of 71.2% for the period.

Xero’s free cash flow was also higher, rising to $208.7 million, alongside a free cash flow margin of 21.0% – improving from 13.3% in the prior period.

These figures meant the company maintained its greater than Rule of 40 outcome of 43.9%.

CEO Sukhinder Singh Cassidy said the results reflected Xero’s success in achieving strategic goals.

“We have delivered a solid performance across the board this half including continued strong revenue growth, and a greater than Rule of 40 outcome for the second period running,” he said.

“We’re executing our strategy with focus and purpose, through disciplined investment aligned to our strategic priorities.

“This has supported an improvement in product velocity for customers in line withour Win the 3×3 strategic priority to build winning solutions for the three most critical small business jobs in our three largest markets.”

Xero has been trading at $161.55.

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The company – which provides a range of technology solutions to the healthcare sector, including GEIS cameras, all-in-one carts, and software such as the Vision Telehealth Platform – has secured commitments from professional and sophisticated investors to support the capital raising.

Its Executive Leadership Team has contributed to this, with a commitment of $110,000.

The Placement – which went beyond expectations, having an initial target of $1.5M – entailed the issuing of 437,500,000 fully paid ordinary shares priced at 0.4 cents each. This represents a discount of 20% to the final closing price on November 8, and a 25.4% discount to the 30-day trading VWAP.

Additionally, participating investors will receive one free attaching option for every 3 new shares to which they subscribe under the Placement.

The funds will be allocated to Visionflex’s efforts to increase its inventory, aiming to facilitate larger contracts, boost sales and marketing activity and provide working capital flexibility.

Visionflex has been trading flat at 0.5 cents.

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The company has manufactured full-size 10Ah semi-solid-state cells which deliver an energy density of 498Wh/kg on first discharge from its Phase 3 automated pouch cell production facility.

After formation cycling, the performance rose to 456Wh/kg – an industry leading figure – with the cells continuing to cycle in ongoing testing.

The market responded strongly, and by 14:31 AEDT, shares in LIS were trading at 17 cents – a rise of 41.67% since the market opened.

The crucial nature of this news lies in the fact higher energy density – yielded by these improvements – results in a lighter battery. LIS’ focus on the growing market of drones, defence, and electric aviation means weight is an important factor.

Potential range, payload, and operating time are set to improve based on this data.

CEO of LIS partner V-TOL Aerospace Mark Xavier said the development would be significant for the drone and aerospace industries.

“V-TOL would like to congratulate LIS on this significant milestone achievement that hasexceeded our expectations and initial requirements for our joint development of the Pegasus uncrewed air system,” he said.

“We anticipate cell performance at this level will generate substantial global interest andopportunity for LIS across the drone, aerospace and defence sectors.“

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