Proceeds expected to extend cash runway to fund operations into at least the next 24 months  SHOHAM, Israel, Dec. 24, 2024 (GLOBE NEWSWIRE) -- Mobilicom Limited (NASDAQ:MOB), a provider of cybersecurity and robust solutions for drones and robotics, today announced that holders of warrants to purchase 761,290 ADRs issued in the Company's registered direct offering in January 2024, have exercised their warrants for aggregate gross proceeds of approximately $1.2 million. "Over the past month, we've seen our ...

Revenue and Sales Performance - Revenue for the half-year ended June 30, 2024, was $1,804,765, a significant increase from $543,431 in the same period of 2023, representing a growth of 232%[3] - The company reported receipts from customers of $2,281,896 for the half-year, up from $426,128 in the same period of 2023, a growth of 436%[11] - For the half-year period ended June 30, 2024, the company reported sales of goods amounting to $1,804,765, a significant increase from $543,431 in the same period of 2023[36] - Revenue from Israel accounted for 65% of total income for the period ended June 30, 2024, compared to 64% in the same period of 2023[37] Financial Losses and Expenses - Net loss after income tax expense for the half-year was $1,653,875, compared to a loss of $1,451,217 in the previous year, indicating a 14% increase in losses[3] - Total comprehensive loss for the half-year was $1,824,465, compared to a loss of $2,364,101 in the previous year, showing a reduction of 22.8%[9] - Selling and marketing expenses were $924,449, slightly decreased from $935,840 in the previous year, indicating a reduction of 1.4%[3] - Research and development expenses increased to $1,047,126 from $1,008,289, reflecting a rise of 3.9%[3] - The company incurred a net loss of $1,653,875 for the period ended June 30, 2024, with accumulated losses totaling $24,034,919 since inception[32] Cash and Assets - Cash and cash equivalents increased to $9,676,328 as of June 30, 2024, up from $8,385,283 at the end of 2023, reflecting a growth of 15.4%[5] - Total assets rose to $11,303,109 as of June 30, 2024, compared to $10,897,913 at the end of 2023, marking an increase of 3.7%[5] - The total equity of the company as of June 30, 2024, was $8,163,016, an increase from $7,742,598 at the end of 2023, representing a growth of 5.4%[5] Share Issuance and Capital Raising - The company raised $2,949,909 from share issuance during the half-year, contributing to a net cash increase[11] - The company completed a registered direct offering on January 30, 2024, raising a total of $2,949,857 through the issuance of ADSs and pre-funded warrants[41] - The total number of ordinary shares increased from 1,326,676,693 on December 31, 2023, to 1,746,493,068 on June 30, 2024, reflecting a capital raising effort[49] - The company issued 1,903,225 ADS warrants at an exercise price of $1.55 per ADS on January 30, 2024, with a 5-year term until January 30, 2029[43] Currency and Financial Resources - The company transitioned to USD as its functional currency effective January 1, 2024, reflecting a significant change in its economic environment[25] - The company generated a financial income attributed to foreign translation gain of $136,518 under USD functional currency, compared to $694,958 if AUD had remained the functional currency[29] - The company estimates it has adequate financial resources for the foreseeable future based on current cash and trade receivable balances[32] Fair Value and Liabilities - As of June 30, 2024, the company's lease liabilities totaled $323,368, down from $452,778 as of December 31, 2023[38] - The fair value of warrants at June 30, 2024, was recorded at $1,555,632, an increase from $1,075,808 at December 31, 2023[40] - The company recorded a fair value gain of $597,639 from the January 2024 Warrants due to changes in fair value[47] - The fair value per warrant decreased from $1.270 at issue date to $0.574 as of June 30, 2024[47] Dividends and Events - The company did not declare or pay any dividends during the current or previous financial half-year[58] - No significant events have occurred after June 30, 2024, that could affect the company's operations or financial results[59]

The Company was notified by Nasdaq on June 25, 2024, that its ADSs had failed to maintain a minimum bid price of $1.00 for 30 consecutive business days. Nasdaq provided a 180-calendar day period following the date of the notice to regain compliance, or until December 23, 2024. To regain compliance with the minimum bid price requirement, the Company was required to maintain a minimum closing bid price of $1.00 or more for at least 10 consecutive trading days. From July 5, 2024 through July 18, 2024, a period ...

Mobilicom's SkyHopper PRO datalink was chosen over four other competing products following intensive field testing. SkyHopper PRO is a Secured Cognitive Software Defined Radio (SDR), with enhanced combat-proven performance, including in harsh environments. It offers what the company believes to be, the best performanceto-SWaP-C (Size, Weight, Power and Cost) in the market based on an internal study of competitor product offerings. Other key factors considered include the Company's excellent customer support ...

For investors, please use https://ir.mobilicom.com/ For company, please use www.mobilicom.com Forward Looking Statements This press release contains "forward-looking statements" that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as "anticipate," "believe," "contemplate," "could," " ...

Shoham, Israel, June 28, 2024 (GLOBE NEWSWIRE) -- Mobilicom Limited (Nasdaq: MOB, MOBBW) ("Mobilicom" or the "Company"), a provider of cybersecurity and robust solutions for drones and robotics, today announced that it has received a notification letter from the Nasdaq Stock Market LLC ("Nasdaq"). The letter notifies the Company that it is not in compliance with the minimum bid price requirement set forth in Nasdaq Listing Rules for continued listing on the Nasdaq Capital Market, since the closing bid price ...

Shoham, Israel, June 18, 2024 (GLOBE NEWSWIRE) -- Mobilicom Limited (NASDAQ:MOB, MOBBW))), a provider of cybersecurity and robust solutions for drones and robotics, today announced that one of the largest loitering munitions providers in the world with approximately $4 billion in annual revenue, has placed a follow-on order for Mobilicom's 10" Ground Control Station (GCS), a tactical mobile handheld controller for small-sized drones. "The $240,000 follow-on order demonstrates our model for growth and moment ...

Core Viewpoint - Mobilicom Limited is actively engaging with U.S. policymakers to advocate for regulations that support the growth and safe operation of uncrewed and autonomous systems [1][2][3] Group 1: Company Overview - Mobilicom Limited is a provider of cybersecurity and robust solutions specifically designed for drones and robotics, with a focus on the defense and commercial markets [4] - The company has a diverse portfolio of field-proven technologies that include cybersecurity, software, hardware, and professional services, which are utilized in mission-critical functions across over 50 global customers [4] Group 2: Industry Engagement - The Association for Uncrewed Vehicle Systems International (AUVSI) hosts an annual Hill Day event, which brings together members from various advocacy committees to discuss policies that enable the deployment of uncrewed systems [2] - Oren Elkayam, CEO of Mobilicom, is participating in AUVSI's Hill Day to engage with lawmakers and contribute to discussions on regulations that promote the safe and beneficial operation of uncrewed systems [1][3] Group 3: Strategic Importance - Mobilicom's involvement in AUVSI's Air Advocacy Committee highlights its commitment to addressing security issues and promoting the advancement of uncrewed systems [2][3] - The company's expertise in developing cyber-secure technologies positions it as a key player in the dialogue surrounding the regulatory framework for autonomous vehicles [3]

Shoham, Israel, June 03, 2024 (GLOBE NEWSWIRE) -- Mobilicom Limited (NASDAQ:MOB, MOBBW))), a provider of cybersecurity and robust solutions for drones and robotics, today announced its CEO and Co-Founder, Oren Elkayam, will participate in a fireside chat at the Maxim Group Virtual TMT Conference at 8:30 am ET on Wednesday, June 5, 2024 with Maxim's Senior Analyst. As a leader in cybersecure, hardware and software solutions to the drones, robotics, and autonomous vehicles market, Mobilicom addresses a market ...

Shoham, Israel, June 03, 2024 (GLOBE NEWSWIRE) -- Mobilicom Limited (Nasdaq: MOB, MOBBW), a provider of cybersecurity and robust solutions for drones and robotics, today announced its CEO and Co- Founder, Oren Elkayam, will participate in a fireside chat at the Maxim Group Virtual TMT Conference at 8:30 am ET on Wednesday, June 5, 2024 with Maxim's Senior Analyst. As a leader in cybersecure, hardware and software solutions to the drones, robotics, and autonomous vehicles market, Mobilicom addresses a market ...