ROCKETDNA LTD. Delta Drone International Limited onlyAppendix 4E
Preliminary final report 1. Company details Name of entity:
ABN:
Reporting period:
Previous period:
Delta Drone International Limited
17 618 678 701
For the year ended 31 December 2021 For the year ended 31 December 2020
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2. Results for announcement to the market | |||||
$ | |||||
Revenues from ordinary activities | up | 64.7% | to | 5,548,315 | |
Loss from ordinary activities after tax attributable to members | up | 1868.9% | to | (3,621,946) | |
personal | up | 1868.9% | to | (3,621,946) | |
Net loss for the year attributable to members |
Dividends
There were no dividends paid, recommended or declared during the current financial period or the previous period
Commentary
Revenues from ordinary activities are composed of revenues from continuing operations, up 36.0% to $4,581,961 (2021: $3,369,115) and revenues from discontinued operations $966,354 (2021:$nil).
Net loss for the year attributable to the owners of Delta Drone International Limited is composed of losses from continuing operations of $1,737,212 (2021:$129,571) and losses from discontinued operations of $1,884,734 (2021:$ 54,388).
Fu ther commentary on the results, Earnings per share, and statements of Comprehensive income, Financial position, Cash flows and Changes in Equity are contained within the attached Preliminary Final Report
3. Net tangible assets
Net tangible assets per ordinary security | 0.19 | 0.91 | ||||
4. Control gained over entities | ||||||
ForName of entities (or group of entities) | Arvista Pty Ltd | |||||
Date control gained | 1 September 2021 |
Arvista Pty Limited contributed $39762 of profit before income tax to the result for the year, and prior to acquisition generated $237,360 profit before tax for the whole of the previous period. The Transaction has been accounted for as a business combination. A business is an integrated set of activities and assets that is capable of being conducted and managed for the purpose of providing a return in the form of dividends, lower costs or other economic benefits directly to investors or other owners, members or participants. Arvista Pty Ltd is deemed to meet this criterion and accordingly has been accounted for as a business.
Delta Drone International Limited | ABN 17 618 678 701
T +61 8 6189 1155 | A: 75 Thomas Street, Subiaco WA 6008
Delta Drone International Limited
Appendix 4E
Preliminary final report
5. Loss of control over entities
Not applicable in the current period as loss of control of Parazero Israel occured subsequent to year end.
only6. Dividend reinvestment plans Not applicable.
7. Details of associates and joint venture entities Not applicable.
8. | Foreign entities |
Foreign entity accounting information complies with International Financial Reporting Standards (IFRS). | |
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9. | Audit |
This Preliminary report is based on accounts which are in the process of being audited and we do not expect an emphasis | ||
personalFor | ||
of matter or modified opinion to be issued. | ||
10. Signed | ||
Signed ___________________________ | Date: 25 February 2022 | |
Christopher Clark | ||
Chief Executive Officer |
onlyDelta Drone International Limited
ABN 17 618 678 701
usePreliminary Final Report - 31 December 2021 personalFor
Delta Drone International Limited
31 December 2021
Principal activities
Delta Drone is a multi-nationaldrone-based data service and technology solutions provider for the mining, agricultural and engineering industries. It provides aerial surveying and mapping, security and surveillance and blast monitoring and fragment onlyanalysis through a fully-outsourced service and fast data turnaround that allows enterprise customers to focus on their
operations while DLT takes care of everything in the air, including compliance and maintenance.
During the year, Delta Drone had in-house enabling proprietary technology, an R&D and integration centre and specialist expertise in designing, developing and provided best-in-class autonomous safety systems for commercial drone deliveries, dro e flights for crowd monitoring in urban areas as well as 'beyond visual line of sight' (BVLOS) missions.
While the COVID-19 pandemic did have an impact on the business, the overall business remained resilient due to long-term annuity contracts with mining customers, considered essential to national economies.
useDividends
Th re were no dividends paid, recommended or declared during the current or previous financial year.
Review of operations
The loss for the Group after providing for income tax amounted to $3,594,622 (31 December 2020: $115,391).
The loss for the Group from continuing operations amounted to $1,709,888 (31 December 2020: $61,001).
Unless otherwise stated, all figures in this report are in the Company's presentation currency, the Australian Dollar ("$").
personalSignificant changes in the state of affairs Acquisition of 60% ownership of Arvista Pty Ltd
On 1 September 2021 the Group completed the acquisition of 60% of the shares in Perth-based provider of aerial and terrestrial surveying services, Arvista Pty Ltd (Arvista). The merger is a key milestone in DLT's expansion strategy and has immediately provided the Group with a blue-chip Australian client base and access to a team of highly skilled professionals with the expertise to expand their skillset beyond surveying to include the full range of drone-as-a-service operations Delta Dr ne International provides.
Board changes
During the year Mr Chris Singleton and Mr Dan Arazi resigned as non-executive directors effective 14 July 2021 and 21 June 2021 respectively, while Mr Nicolas Clerc, Mr Christian Viguie and Mr Clive Donner were appointed as non-executive di ectors effective 8 April 2021, 8 April 2021 and 14 July 2021 respectively.
Th re were no other significant changes in the state of affairs of the Group during the financial year.
Matters subsequent to the end of the financial year
On 28 January 2022 the Group announced that it has entered into a binding agreement with a consortium of investors led by NASDAQ-listed Medigus Ltd and facilitated by Israeli venture capital firm L.I.A Pure Capital Ltd to sell ParaZero Technologies Ltd ("ParaZero") which operates the Company's drone safety business, for a total consideration of A$6 million in cash. This transaction allows the Group to focus on becoming one of the leading drone service providers globally after its
Forsuccessful acquisition of the Delta Drone South Africa business in December 2020 and the purchase of Arvista Pty Ltd in Australia in September 2021. Post-sale this will leave the Company with a strengthened balance sheet and a substantially reduced need for cash to fund the ongoing R&D investment that had been required by the ParaZero business, allowing the Gr up to focus on aggressively growing its global drone services business. As such, the assets (including goodwill and intangible assets), liabilities and net profit of the Parazero operations have been classified as assets held for sale and liabilities directly attributed to discontinued operations in the 31 December 2021 report.
No other matter or circumstance has arisen since 31 December 2021 that has significantly affected, or may significantly affect the Group's operations, the results of those operations, or the Group's state of affairs in future financial years.
___________________________
Christopher Clark Chief Executive Officer 25 February 2022
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Delta Drone International Limited
Contents
31 December 2021
Consolidated statement of profit or loss and other comprehensive income | 3 |
Consolidated statement of financial position | 5 |
Consolidated statement of changes in equity | 6 |
Consolidated statement of cash flows | 7 |
only | 8 |
Notes to the consolidated financial statements |
General information
The financial statements cover Delta Drone International Limited as a Group consisting of Delta Drone International Limited a d the entities it controlled at the end of, or during, the year. The financial statements are presented in Australian dollars, which is Delta Drone International Limited's functional and presentation currency.
Delta Drone International Limited is a listed public company limited by shares, incorporated and domiciled in Australia. Its registered office and principal place of business are:
R gistered office | Principal place of business |
75 Thomas Street, Subiaco WA 6008 | 75 Thomas Street, Subiaco WA 6008 |
For personaluse |
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Delta Drone International Ltd. published this content on 24 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 February 2022 22:53:12 UTC.
