FBR (FBR) Status Update summary

Financial position and capital initiatives

• Annual burn rate reduced to $10–$12 million, with funding secured up to $22 million, including a $20 million facility from GEM and a recent $1 million capital raise at $0.045 per share.

• Entered a A$20 million Share Subscription Facility with GEM Global Yield LLC SCS to strengthen the balance sheet and support global revenue growth.

• Share purchase plan (SPP) to be launched, allowing eligible shareholders to participate at the same price as the placement, with a cap of A$1 million and possible oversubscriptions.

• Placement issued approximately 222.2 million new shares at A$0.0045 each, a 23–25% discount to recent VWAP/last closing price, supporting cash flow and operational needs.

• Proceeds will fund new DST-enabled products, the Samsung Heavy Industries collaboration, Mantis launch, WaaS projects, and working capital.

Product development and commercialization

• Mantis, a DST-enabled welding robot with an eight-meter reach, launched and targeting heavy fabrication, mining, shipbuilding, and defense sectors.

• Hadrian X H4 unit undergoing commissioning, with expected completion in the current half-year and strong inbound interest from Australia, USA, UK, UAE, and Indonesia.

• Mantis designed to address gaps in large-scale welding automation, leveraging existing technology and partnerships for rapid market entry.

• Collaboration with Samsung Heavy Industries targets DST-enabled automation in shipbuilding and new verticals.

• Hadrian X robot offers Wall as a Service and is available for purchase by order.

Sales pipeline and market expansion

• MOU in place for a $7.8 million Hadrian X sale to Habitat NT, with significant demand driven by government grants and defense infrastructure projects.

• Active sales pipeline for both Hadrian X and Mantis, with focus on self-sustaining, profitable growth and organic expansion.

• Strategy for international markets involves partnering with local organizations, with advanced discussions ongoing in the UK, UAE, and Indonesia.