First promoted in November 2021, with a further round a year ago, this has turned out to be one of our most sort after Offers. It has had a total raised from people introduced by TBK Capital of over $1,000,000 with an average investment of $67,000.
First promoted in November 2021, with a further round a year ago, this has turned out to be one of our most sort after Offers. It has had a total raised from people introduced by TBK Capital of over $1,000,000 with an average investment of $67,000.
Since their previous capital raise a year ago, $6 million was successfully used to purchase 100% of the Australian business called Lucidity. This has now been fully integrated into SiteSoft and they are now embarking on the next step towards a fast growing, international, SaaS company.
The business continues to trade very well with sales beating budget every month. Growth has been an astounding 1,800% in the last 3 years. Breakeven is in Feb 2023 and will be positive cashflow from then onwards.
The Health and Safety sector continues to also grow substantially with a carrot and stick approach. i.e. if companies get it wrong, they could become personally liable and if they get it right, they are enhancing their growth by having happy employees,
SiteSoft has recently closed some large organisations recently including Auckland DHB and the largest homebuilder in Australia. They have launched their software in the UK and are now starting to achieve sales. They plan to open an office in there in 2023.
Pre ASX-Listing Offer
On the 29th of December 2022 the Company received approval from the Australian ASX for a listing in the 1st half of 2023. It is offering a final $500,000 capital raise to fund the last part of the ASX list costs. These costs are one off.
To accomplish this the Company is using the SAFE method (Simple Agreement for Future Equity). It’s an existing system which is very favourable to the investor and is used frequently in the USA and Australia
The Offer is such that the strike price of new equity is the lower of the current strike price or the listing price whichever is less. So effectively if the listing price is higher than the investor gains an immediate capital gain. And if it is lower, then the investor gains more shares for the same money. So the investors so get the best of both worlds and there is no downside for them.
It is a system introduced by the Company’s U.S. Director Mr Randy Reddig. He’s a Nasdaq listed “Square“ founder. He introduced this Safe System to the company and he himself has invested more money via this method. The Sitesotf Chairman, Phil Norman, has also endorsed this Safe system.
For a copy of the latest IM please reply to this email.
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The above investment is not an offer of financial products that requires disclosure under the Financial Markets Conduct Act 2013 (Act) and is available only to wholesale investors as defined by that Act. It is intended for distribution only to selected people to whom, under the relevant laws, it can be lawfully distributed. It cannot be distributed in any other jurisdiction, or to any other people. It is not an offer or solicitations in any jurisdiction in which such offers or solicitations are not authorised, or in which the person making such offers or solicitations are not qualified to do so, or to any person to whom it is unlawful to make such offers or solicitations. Any representation to the contrary would be unlawful. No action has been taken by any person that would permit a public offering in any jurisdiction where action for that purpose would be required.
Cheers
John Paine B.Sc., Dip BIA
TBK Capital Limited
Level 10, 120 Albert Street
Auckland 1010, New Zealand
Phone +64 9 307 3257
Mobile +64 21 902 901
Email john.paine@tbkcapital.co.nz