Bod Australia Ltd (AU:BOD) has released an update.
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Bod Australia Ltd has entered into a Deed of Company Arrangement (DOCA) with Biortica, proposing a backdoor listing, subject to shareholder approval and ASX listing requirements. Financially, the company reported a net cash increase from operating activities to $269k, helped by an overseas R&D tax incentive of $364k, despite a decrease in customer receipts. Looking ahead, Bod is finalizing a share purchase agreement with Biortica’s shareholders, with a shareholder meeting expected in the coming months to vote on the resolutions.
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