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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Bos Glb Hldgs | LSE:BOS | London | Ordinary Share | AU000XINEAC2 | ORD NPV (DI) |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.90 | 0.65 | 1.15 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From May 2019 to May 2024
TIDMBOS
RNS Number : 6245B
BOS GLOBAL Holdings Limited
05 April 2017
BOS GLOBAL Holdings Limited
ACN 009 087 852
AIM Release
5 April 2017
Interim Results
BOS GLOBAL Holdings Limited ("BOS GLOBAL" or "the Company") (AIM: BOS), the software developer focused on improving productivity and creating operational efficiencies in the workplace, is pleased to announce its interim results for the six-month period ended 31 December 2016. The half yearly report is available electronically in pdf format for downloading at the Company's website (www.bosglobal.com).
The summary financial statements are shown below, while the Company notes that the Auditors Review Report in relation to the Half Yearly Results included a Material Uncertainty Related to Going Concern statement.
Following the publication of the interim results, the Company expects that trading in its securities on AIM will be restored today.
Highlights
Hot Features
Premium
-- Transformative period following completion of Reverse Takeover ('RTO') of Forte Energy NL
-- Successfully launched two work optimisation software products, BOS Meet and BOS Automate, in December 2016 and January 2017 respectively, both of which already have over 200 seats subscribed for, with additional products in the pipeline
-- Secured development, partnership and marketing agreements to facilitate global presence, including a reseller agreement with an Australian multi-national company
-- Conditional agreement to acquire 40% of Call Design Pty Ltd, a profitable provider of workforce optimisation tools, focused particularly on contact centre services, which has an established blue chip client base and operational presence in 26 countries offering cross-selling opportunities
-- Patent acceptance for BOS Time and BOS360 Work Patterns
BOS GLOBAL Managing Director Michael Travia said, "These are extremely exciting times for BOS GLOBAL and its shareholders. The demand for software and systems which blend business process, intelligence gathering and advanced analytics to drive efficient business practices and workplace engagement is exploding. By executing on our defined strategy to develop our cloud based software product, utilising global marketing and distribution channels, and bringing together proven world class personnel, we can deliver an exceptional product. Additionally, to ensure we maximise our market position we will continue to look for complementary investments, such as Call Design, which we believe will enable us to deliver a truly global business that dominates its market sector."
Managing Director's Report:
This has been a transformational time for BOS GLOBAL following the RTO of Forte Energy NL. We have made excellent progress and continue to implement our strategy of building a software development company centred on optimising productivity in the workspace. To this end, we continue to focus on bringing the revolutionary patented BOS 360 Work Patterns Platform as a Service (PaaS) ('BOS 360') to market, which provides corporates with the ability to digitally capture individual, team and organisational work patterns. The resultant data can then be effectively utilised to increase productivity and drive efficient business practices, leading to significant cost savings, greater profitability, equity and work place harmony.
To augment and accelerate our growth, we are building a structure that involves both partnership agreements in software development and an aggressive M&A strategy to identify and acquire synergistic businesses. There is huge growth in digital transformation projects and we are positioning ourselves at the forefront of an industry providing services to corporates across the world. We live in an era where market sector workforces are under constant pressure to improve yield, productivity and value. BOS 360 is designed to provide its clients with a future-proof solution.
BOS 360 is made up of an integrated portfolio of software programmes, which will be offered both on an individual basis and as part of an all-inclusive package. BOS Automate is focused on the way digital information is managed in the work place and is powered by BOS Document, BOS Records and BOS Progress. BOS Productivity is focused on maximising the efficiency of workers' time and is powered by BOS Meet, BOS Time and BOS Pact, while BOS Integrity is focused on improving access, security and validation of work place information.
We have recruited personnel capable of delivering our business to support this period of growth. We are rapidly putting the blocks in place to leverage our market position, deliver BOS 360 and expand our product range. We have started to implement our Innovation Partnership Model, which is focused on identifying companies that have a foothold within our initial target markets of finance and government in Australia, the United Kingdom and North America, to distribute the software products, as well as building up internal capabilities to attract new clients.
We signed an agreement with Ag-I Solutions Limited ('Ag-I Solutions'), a software development and licensing business headquartered in Hong Kong, which provides the Company with BOS GLOBAL branded market-ready products. They also have a portfolio of successful, enterprise level cloud based solution products covering Records, Document, Workflow and Meeting Management, which will be BOS GLOBAL branded. Ag-I's products are highly synergistic with BOS GLOBAL's BOS 360.
Importantly we have already launched BOS Meet and BOS Automate, with 200 products subscribed for in Australia and the UK since the products were launched in December 2016 and January 2017 respectively. Additionally, to bolster the sales process we have signed re-seller agreements in both the UK and Australia, including with an Australian multinational company.
To strengthen our market position and expand our offering we recently agreed to conditionally acquire (subject to satisfactory due diligence) a 40% stake in Call Design Pty Ltd ('Call Design') for an aggregate cash and scrip consideration of GBP2.8 million. Call Design is a company specialising in workforce optimisation solutions by providing exceptional support, personalised training, custom software development, and consulting services primarily to the call centre industry. This is a highly synergistic investment, and will provide multiple cross-selling opportunities to both companies in line with our strategy to deliver a comprehensive business optimisation offering globally. Call Design has a significant multi-sector client base, which includes all four of Australia's major banks, leading international telecommunications companies, and blue chip insurers and governmental bodies. It has a current operational reach spanning 26 countries, including our core markets of Australia, the UK / Europe and the USA. Importantly, as a 'Platinum Partner' of Aspect, the world's leading enterprise cloud contact centre provider, Call Design specialises in the deployment, integration, training and support of one of the world's premier Workforce Optimisation platforms.
As investors will realise, this is a period of transition and growth. We are building a company that is capitalising on a rapidly expanding market, and the immense progress we have made since the RTO of the vehicle has not come without considerable effort and expense which is reflected in the interim results. We look forward to updating you as the business continues to grow and strengthen now that we are moving from the establishment to growth phase, as we remain focused on the roll out of the portfolio and identifying and making complementary acquisitions with the continued support of Innovation Corporation Limited, with whom we have a convertible loan note facility in place.
I am excited about the prospects for BOS GLOBAL. This is truly a fast-growing market with digital transformation projects at the top of corporate agendas. The collection and analysis of work patterns can both transform work practices and profitability and importantly, digitisation of knowledge can also allow human capital to be transferred seamlessly from long serving employees to new arrivals. Corporates are rapidly changing and we are ideally positioned to assist in their challenges.
Finally, I'd like to thank shareholders for their support and I look forward to updating you on developments as we rapidly grow the business.
**S**
This announcement contains inside information as stipulated under the Market Abuse Regulations (EU) no. 596/2014 ("MAR").
For further information please visit www.bosglobal.com or contact:
Michael Travia BOS GLOBAL Holdings Tel: +61 (0) 8 9322
Managing Director Limited 4071
E: shareholder@bosglobal.com
=================== ==================== =============================
Oliver Morse/Andrew RFC Ambrian Limited Tel: +61 (0) 8 9480
Thomson 2500
NOMAD
=================== ==================== =============================
Charles Goodfellow Peterhouse Corporate Tel: +44 (0) 20 7220
/ Lucy Williams Finance Limited 9791
Broker
=================== ==================== =============================
Elisabeth Cowell St Brides Partners Tel: +44 (0) 20 7236
/ Charlotte Page Ltd 1177
Financial PR
=================== ==================== =============================
About BOS GLOBAL:
BOS GLOBAL is a Software Company dedicated to making workplaces more productive. It does this through its patented platform built to capture and analyse activities as a smart way to help individuals to achieve greater levels of workplace efficiency. The platform known as BOS 360 Work Patterns is unique in its ability to digitally render real time views of productivity in the form of Work Patterns at an individual, team or organisation level.
The platform comprises of three main business competencies;
1. Workplace Automation - How digital information (records and documents) is managed in the workplace.
2. Workplace Productivity - How people are spending their time at work 3. Workplace Integrity - How workplace information is secured and validated.
Each of these competencies are supported by a range of enterprise grade software products designed to perform a specific set of workplace functions. These products also act as both collectors and feeders of information to the BOS 360 Platform for use in the generation of Work Pattern reports. BOS GLOBAL will generate re-occurring income through subscriptions of its BOS 360 Work Pattern platform and supporting products, as well as through licensing of its patented Work Pattern technology. The Company sales strategy is focused on building a global distribution partner network via Enterprise Software Vendors, Professional Services Organisations and Consulting Practices.
The Company has also signed a conditional agreement to acquire a 40% interest in Call Design Pty Ltd, a profitable, Australian based, global provider of workforce optimisation tools, focused particularly on call centre services, which has an established blue chip client base. This highly synergistic investment will provide multiple cross-selling opportunities to both companies in line with BOS GLOBAL's strategy to deliver a comprehensive business optimisation offering globally.
BOS GLOBAL Holdings Limited is a LSE AIM listed company incorporated in Australia, operating from offices in Melbourne, Sydney and Brisbane. Plans are well underway to increase its representation, with offices in London, San Francisco and Hong Kong in year 2017.
BOS GLOBAL Holdings Limited
ABN 59 009 087 852
SUMMARY FINANCIAL STATEMENTS
HALF-YEAR FINANCIAL REPORT
31 DECEMBER 2016
BOS GLOBAL HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHERCOMPREHENSIVE INCOME
FOR THE HALF-YEARED 31 DECEMBER 2016
Consolidated
31 December 31 December
2016 2015
Notes $ $
--------- -------------- --------------
Revenue - 150,000
Other income 111,023 12,445
Expenses
Employee
benefits
expense (2,800) (1,711)
Research and
development
expenses - (155,656)
Contractor
expenses (600,483) (140,475)
Finance costs (11,974) -
Travel
expenses (140,417) (39,596)
Rent expense (23,368) (19,645)
Legal
expenses (237,825) (18,566)
Cost of (3,104,418 -
listing
expenses
Other
expenses (287,761) (52,018)
--------------
Loss before
income tax (4,298,023) (265,222)
Income tax - -
expense
-------------- ------------
Loss for the period (4,298,023) (265,222)
-------------- ------------
Other comprehensive income
Other comprehensive income
for the period, net of tax - -
-------------- ------------
Total comprehensive loss
for the period (4,298,023) (265,222)
============== ============
Loss attributable to:
Non-controlling interest 19,869 (172,838)
Members of the parent entity (4,317,892) (92,384)
-------------- ------------
(4,298,023) (265,222)
============== ============
Cents Cents
Basic loss per share (8) (0.02)
Diluted loss per share (8) (0.02)
This consolidated statement of profit or loss and other comprehensive income should be read in conjunction with the accompanying notes.
BOS GLOBAL HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2016
Consolidated
31 December 30 June
2016 2016
Notes $ $
------ ------------ ------------
ASSETS
Current assets
Cash and cash equivalents 274,397 6,501
Trade and other receivables 210,879 240,000
Prepayments 8,732 8,732
Available for sale assets 28,532 -
Loan to related party 52,305 -
------------ ------------
Total current assets 574,845 255,233
------------ ------------
Non-current assets
Intangible assets 4,767 4,767
------------ ------------
Total non-current assets 4,767 4,767
------------ ------------
Total assets 579,612 260,000
------------ ------------
LIABILITIES
Current liabilities
Accounts payable and
other payables 267,533 213,321
Borrowings - 79,335
Total current liabilities 267,533 292,656
------------ ------------
Total liabilities 267,533 292,656
------------ ------------
Net assets/(liabilities) 312,079 (32,656)
============ ============
Equity
Issued and paid up capital 4 6,665,018 2,022,260
Non-controlling interest (103,449) (123,318)
Retained earnings (6,249,490) (1,931,598)
------------ ------------
Total Equity 312,079 (32,656)
============ ============
This consolidated statement of financial position should be read in conjunction with the accompanying notes.
BOS GLOBAL HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE HALF -YEAR ENDED 31 DECEMBER 2016
Attributable
to non-
Contributed Accumulated controlling
Equity losses Subtotal interests Total
$ $ $ $ $
-------------- -------------- ------------- ------------- --------------
Consolidated
Balance at 1 July 2015 1,983,263 (1,450,253) 533,010 56,474 589,484
Profit or loss attributable
to members of the parent - (92,384) (92,384) - (92,384)
Profit or loss attributable
to NCI - - - (172,838) (172,838)
-------------- -------------- ------------- ------------- --------------
Total comprehensive loss
for the period - (92,384) (92,384) (172,838) (265,222)
-------------- -------------- ------------- ------------- --------------
Transactions with owners
Share Issued 38,997 - 38,997 - 38,997
Balance at 31 December
2015 2,022,260 (1,542,637) 479,623 (116,364) 362,259
============== ============== ============= ============= ==============
Balance at 1 July 2016 2,022,260 (1,931,598) 90,662 (123,318) (32,656)
Profit or loss attributable
to members of the parent - (4,317,892) (4,317,892) - (4,317,892)
Profit or loss attributable
to NCI - - - 19,869 19,869
-------------- -------------- ------------- ------------- --------------
Total comprehensive income/(loss)
for the period - (4,317,892) (4,317,892) 19,869 (4,298,023)
-------------- -------------- ------------- ------------- --------------
Transactions with owners
Share based payments -
acquisition of Forte Energy
NL 2,329,280 - 2,329,280 - 2,329,280
Ordinary shares issued
on conversion of notes 1,229,412 - 1,229,412 - 1,229,412
Ordinary shares issued 1,128,471 - 1,128,471 - 1,128,471
Capital raising costs (44,405) - (44,405) - (44,405)
Balance at 31 December
2016 6,665,018 (6,249,490) 415,528 (103,449) 312,079
============== ============== ============= ============= ==============
This consolidated statement of changes in equity should be read in conjunction with the accompanying notes.
BOS GLOBAL HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE HALF-YEAR ENDED 31 DECEMBER 2016
Consolidated
31 December 31 December
2016 2015
Notes $ $
----------------------------------------------------------------------------------------------------------------------------------- ----------- -----------
Cash flows from operating activities
Receipts from clients 122,125 3,526
Payments to suppliers and employees (594,989) (613,455)
Research and development tax
credit received - 267,404
Interest payment (11,974) -
Interest received - 8,929
Net cash used in operating activities (484,838) (333,596)
----------- -----------
Cash flows from investing activities
Proceeds from disposals of property - -
plant and equipment
Provision of loans to related
parties (52,305) -
Proceeds from related party
loans - 72,534
Net cash (used in) / provided
by investing activities (52,305) 72,534
----------- -----------
Cash flows from financing activities
Cash acquired 4,510 -
Proceeds from issue of shares 844,934 39,000
Capital raising costs (44,405) -
Net cash provided by financing
activities 805,039 39,000
----------- -----------
Net increase / (decrease) in
cash held 267,896 (222,062)
Cash and cash equivalents at
the beginning of the period 6,501 225,452
Cash and cash equivalents at
the end of the period 274,397 3,390
=========== ===========
This statement of cash flow should be read in conjunction with the accompanying notes.
Please note that the complete Half-Year Report is available at the Company's website: www.bosglobal.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
IR EELBBDZFXBBB
(END) Dow Jones Newswires
April 05, 2017 02:00 ET (06:00 GMT)
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