Companies / EXT

EXCITE TECHNOLOGY SERVICES LTD

ASX:EXTSoftware & Services
2.76B shares on issueASX (delayed) · snapshot 11 Sept 20263.17B fully diluted+15.2% if every option and right converts$0.004price · delayed$11.0Mmarket cap · indicative

Today’s holders own 86.8% of what they think they own, once every option and right converts.

Moderate
Dilution risk

Share count grew 82% in 24 months; 11 cash raises in 24 months; options/rights overhang 15% of shares

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway36.7 quarters of funding
Share-count growth (24m)81.7%measured to the latest Appendix 2A, not to the share count above
Raise cadence (24m)11 cash raises
Options & rights overhang15.2% of shares
In-the-money supply0.0% of shares
Pending proposed issuesnone

EXCITE TECHNOLOGY SERVICES LTD's ordinary share count was 2.76B as of September 2026. The company raised capital 11 times in the past 24 months, totalling A$10.8M in disclosed proceeds, with the latest raise being a A$3.5M placement in July 2026. Options and rights on issue could convert into 418M new shares, representing 15.2% of the current share count, with no options currently in the money; the nearest expiry date is September 2029. As of the June 2026 quarter, the company held A$4.1M in available cash, enough to cover 36.7 quarters at its recent spending rate. No new proposed securities issues are pending.

AI-generated summary of this page's cited filings · updated 11 Sept 2026
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15.2%
Options & rights overhang
0.0%
In-the-money supply
3
Raises · last 12 months
36.7 qtrs
Cash cover · over 4 quarters

Shares on issue — last 2 years

Ordinary shares on issue
Weekly counts from ASX records. Dots mark cash capital raises. Latest count 2.76B per ASX (delayed) (snapshot 11 Sept 2026).
1.75B2.00B2.25B2.50B2.75BDec 24Oct 25Sept 26Cash raise · 3 July 2026Cash raise · 13 Mar 2026Cash raise · 29 Sept 2025Cash raise · 30 Apr 2025Cash raise · 4 Apr 2025Cash raise · 7 Mar 2025Cash raise · 3 Mar 2025Cash raise · 27 Feb 2025Cash raise · 24 Feb 2025Cash raise · 21 Feb 20252.76B

Cash runway

36.7 qtrs
More than four quarters of funding at the recent spend rate.
More than three years of funding at the reported spend rate — far enough out that a dated estimate would be false precision.
$4.1M cash after burn from the quarter ended 30 June 2026 · Runway is computed from Appendix 4C/5B filings and announced raise proceeds. Filed with the quarterly report: $466k cash at quarter end (item 4.6), 3.2 qtrs of funding on the company’s own estimate. Our figure above carries the filed quarter-end balance forward at the reported spend rate and adds announced raise proceeds.
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12 quarters on record — Cash runway history
Quarterly cash, net spend and cover trend from every Appendix 4C/5B on record up to 30 June 2026.
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Issuance timeline

Latest 5 filings (Appendix 2A quoted issues, 3G unquoted, 3H cancellations)

DateFormSecurityOn issue, per this filingSource
8 Sept 20262A · quoted issueEXT : ORDINARY FULLY PAID2.68BAppendix 2A
8 Sept 20263G · unquotedEXT : ORDINARY FULLY PAID2.62BAppendix 3G
8 Sept 20263G · unquotedEXT : ORDINARY FULLY PAID2.62BAppendix 3G
7 Sept 20263H · cancellationEXT : ORDINARY FULLY PAID2.62BAppendix 3H
6 Sept 20262A · quoted issueEXT : ORDINARY FULLY PAID1.0MAppendix 2A

Each filing states the count for the security it names, as at its own reference date and in the units of that filing — so the newest row (2.68B) need not equal the current count above (2.76B).

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39 filings on record — Full issuance history
Every quoted and unquoted issue and cancellation on record, plus unquoted securities (Appendix 4.2).
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Capital raises

11 cash raises in the last 24 months · 3 in the last 12 months

every 2.1 monthsaverage gap between raises
2.3 monthssince the most recent
8 Oct 2024 – 3 July 2026first to most recent in this window
$3.5M
Placement
3 July 2026 COMPLETE
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14 raises on record — Full raise history
Issue price, shares issued, brokers and stated purpose for every raise on record.
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Forward supply

Every dated event on record that could add securities to the register — option expiries to their stated dates and proposed issues over the next 18 months, on one timeline.

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1 dated event on record — Forward supply calendar
Option expiries and proposed issues on one forward timeline, with the securities each could add.
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Placement capacity

How much stock a company can place without asking holders. Listing Rule 7.1 allows 15% of ordinary securities in any 12 months, and every Appendix 3B states how much of it an issue uses.

No estimate — the filings already exceed 15% of the share count we can measure, which means securities were added to the base during the year that we cannot see. The company has also placed under the additional 10% (Listing Rule 7.1A), which is not counted in this figure.
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Placement capacity — LR 7.1 / 7.1A
The filings behind the figure: every Appendix 3B in the window with what it says was issued under 7.1 and 7.1A, each row linked to its filing, and how many shares are left.
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Pending proposed issues

No proposed issues (Appendix 3B) currently pending.

Options & convertible securities

15.2%
Options & rights overhang · of current shares
0.0%
In-the-money supply · at current price
417.6M
Potential new shares
Sept 2029
Nearest expiry
What this supply is, and what converts it
  • Price-triggered292.6M · 10.6% of shares
    Options and warrants — they convert when the share price clears their exercise price.
    At least 976k of it states no exercise price — that much cannot be called in or out of the money.
  • Condition-triggered120.8M · 4.4% of shares
    Performance and incentive rights — they convert when a hurdle is met, not at a price, and can lapse to nothing.
  • Converts on terms4.1M · 0.1% of shares
    Convertibles with no exercise price — they convert on their own terms, so they are shares in all but name.

Exercise price on record: 291.7M priced, 125.9M where the filing never states one. A security with no exercise price is never counted in the money — nothing is paid to convert it, so there is no price for it to be above.

Each figure is the filing’s own count of securities, not a share count — a 2A never states what one security converts into.

What a price move would switch on
208.8M417.6M$0.004 now0.25× today ($0.001) — 0 of the priced supply in the money, 0.0% of shares on issue0.5× today ($0.002) — 0 of the priced supply in the money, 0.0% of shares on issue0.75× today ($0.003) — 0 of the priced supply in the money, 0.0% of shares on issue1× today ($0.004) — 0 of the priced supply in the money, 0.0% of shares on issue1.25× today ($0.005) — 0 of the priced supply in the money, 0.0% of shares on issue1.5× today ($0.006) — 0 of the priced supply in the money, 0.0% of shares on issue2× today ($0.008) — 0 of the priced supply in the money, 0.0% of shares on issue3× today ($0.012) — 291.7M of the priced supply in the money, 10.6% of shares on issue5× today ($0.020) — 291.7M of the priced supply in the money, 10.6% of shares on issue10× today ($0.040) — 291.7M of the priced supply in the money, 10.6% of shares on issue0.25×0.5×0.75×now1.25×1.5×2×3×5×10×

At $0.004 today, 0 securities are in the money (0.0% of shares on issue). No more priced supply until 3× today’s price, which takes it to 291.7M (10.6% of shares).

  • Priced supply in the money at the price on the axis — the curve, and the only thing on it. Ten prices, sampled: between two of them the true figure lies between the two.
  • 125.9M (30.1% of the supply above) states no exercise price at all. It cannot be called in or out of the money at any price, which is why it is hatched rather than plotted.
CodeSecurityTypeExercise priceExpiryOn issueSource
—OptionsPrice-triggered$0.0109 Sept 2029291.7MFiling
EXTAHOptionsPrice-triggered——976kFiling
EXTAANotesConverts on terms——4.1MFiling
EXTALPerformance rightsCondition-triggered——120.8MFiling

“Nil” is a stated nil exercise price: nothing is paid to convert. An em dash means the filing names no exercise price at all. Security is read from the filing’s own class description; an em dash there means the description is not one this table labels. One row is one security class, at the number stated in the most recent quotation application that restated it — linked, and dated, in the last column.

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4 option lines on record — In-the-money value & price ladder
What each line is worth in the money today, the price ladder to the next tranche that converts, and the filing description behind every code.
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Director dealings

DateDirectorTypeSharesOptionsOtherValueSource
16 June 2026Neil SinclairOther1.0M—14.0M—3Y notice
27 Jan 2026Neil SinclairOther1.0M—14.0M—3Y notice
27 Oct 2025Neil SinclairOther8.5M—14.0M—3Y notice
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16 notices on record — Full dealing history
Every change-of-director's-interest notice on record, with direction and consideration.
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Ownership

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Top-20 holders & substantial holder notices
Top-20 register snapshot and substantial-holder movements, each linked to its source notice.
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Latest announcements

8 Sept 2026Notification regarding unquoted securities - EXT
8 Sept 2026Cleansing Notice
8 Sept 2026Notification regarding unquoted securities - EXT
8 Sept 2026Application for quotation of securities - EXT
7 Sept 2026Notification of cessation of securities - EXT
6 Sept 2026Application for quotation of securities - EXT
6 Sept 2026Cleansing Notice
31 Aug 2026Results of Annual General Meeting
20 Aug 2026$PPerformance, pipeline growth and emerging AI opportunities
12 Aug 2026Final Director's Interest Notice - Hugh Bickerstaff
12 Aug 2026Withdrawal of AGM Resolution
12 Aug 2026Chair Appointment/Resignation
4 Aug 2026Cleansing Notice
4 Aug 2026Application for quotation of securities - EXT
31 July 2026Notification of Upcoming Expiry of Listed Options
31 July 2026$PQuarterly Activities/Appendix 4C Cash Flow Report
30 July 2026Notice of Annual General Meeting/Proxy Form
30 July 2026Letter to Shareholders - AGM
13 July 2026Initial Director's Interest Notice
13 July 2026Notice under ASX Listing Rule 3.13.1

Headlines link to the source PDFs on the ASX announcements platform. Data as of 12 Sept 2026.