Companies / GTI

GRATIFII LIMITED

ASX:GTISoftware & Services
690.0M shares on issueASX (delayed) · snapshot 11 Sept 2026841.8M fully diluted+22.0% if every option and right converts$0.030price · delayed$20.7Mmarket cap · indicative

Today’s holders own 82.0% of what they think they own, once every option and right converts.

Very high
Dilution risk

Runway under 2 quarters; share count grew 519% in 24 months; 4 cash raises in 24 months

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway-1.6 quarters of funding
Share-count growth (24m)519.0%
Raise cadence (24m)4 cash raises
Options & rights overhang22.0% of shares
In-the-money supply0.0% of shares
Pending proposed issuesopen proposed issue (Appendix 3B)

GRATIFII LIMITED underwent an approximately 1-for-15 share consolidation in November 2024. Adjusted for this consolidation, the company's ordinary share count increased 519.0% between June 2024 and July 2026, reaching 690M shares. GRATIFII LIMITED raised capital four times in the past 24 months, totalling A$17.1M, with the latest raise being a A$10.0M placement in May 2026. Options and rights outstanding could convert into 152M new shares, representing 22.0% of the current share count, with the nearest expiry in December 2026. As of the June 2026 quarter, the company reported negative A$3.6M in cash, with a funding runway of -1.6 quarters. No proposed securities issues are currently pending.

AI-generated summary of this page's cited filings · updated 11 Sept 2026
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22.0%
Options & rights overhang
0.0%
In-the-money supply
2
Raises · last 12 months
-1.6 qtrs
Cash cover · under 2 quarters

Shares on issue — last 2 years

Ordinary shares on issue
Weekly counts from ASX records. Dots mark cash capital raises. Adjusted for the 1-for-15 consolidation (25 Nov 2024). Latest count 690.0M per ASX (delayed) (snapshot 11 Sept 2026).
300M400M500M600M700MDec 24Oct 25Sept 26Cash raise · 12 May 2026Cash raise · 22 Dec 2025Cash raise · 23 May 2025Cash raise · 17 Feb 2025690.0M

Cash runway

-1.6 qtrs
Less than two quarters of funding at the recent spend rate — near-term funding pressure.
$-3.6M 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: $3.3M cash at quarter end (item 4.6), 1.8 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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14 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
2 Sept 20263H · cancellationGTI : ORDINARY FULLY PAID690.0MAppendix 3H
11 Aug 20263G · unquotedGTI : ORDINARY FULLY PAID690.0MAppendix 3G
27 July 20262A · quoted issueGTI : ORDINARY FULLY PAID690.0MAppendix 2A
21 July 20262A · quoted issueGTI : ORDINARY FULLY PAID542.9MAppendix 2A
21 July 20263G · unquotedGTI : ORDINARY FULLY PAID540.4MAppendix 3G
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57 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

4 cash raises in the last 24 months · 2 in the last 12 months

every 4.9 monthsaverage gap between raises
4 monthssince the most recent
17 Feb 2025 – 12 May 2026first to most recent in this window
$10.0M
Placement
12 May 2026 ACTIVE
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10 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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7 dated events 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.

About 2% of the 15% placement capacity left — about 98% used by Appendix 3B filings in the last 12 months (estimate, as at 2026-09-12). One filing in the window states more under 7.1 than the whole allowance and is not counted, so usage may be higher than this. Holder-approved issues and any later ratification are not deducted, so the true headroom can be higher.
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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

22.0%
Options & rights overhang · of current shares
0.0%
In-the-money supply · at current price
151.8M
Potential new shares
Dec 2026
Nearest expiry
What this supply is, and what converts it
  • Price-triggered147.0M · 21.3% of shares
    Options and warrants — they convert when the share price clears their exercise price.
  • Condition-triggered4.7M · 0.7% of shares
    Performance and incentive rights — they convert when a hurdle is met, not at a price, and can lapse to nothing.

Exercise price on record: 147.0M priced, 4.7M 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
75.9M151.8M$0.030 now0.25× today ($0.007) — 0 of the priced supply in the money, 0.0% of shares on issue0.5× today ($0.015) — 0 of the priced supply in the money, 0.0% of shares on issue0.75× today ($0.022) — 0 of the priced supply in the money, 0.0% of shares on issue1× today ($0.030) — 0 of the priced supply in the money, 0.0% of shares on issue1.25× today ($0.037) — 0 of the priced supply in the money, 0.0% of shares on issue1.5× today ($0.045) — 0 of the priced supply in the money, 0.0% of shares on issue2× today ($0.060) — 0 of the priced supply in the money, 0.0% of shares on issue3× today ($0.090) — 6.8M of the priced supply in the money, 1.0% of shares on issue5× today ($0.150) — 140.5M of the priced supply in the money, 20.4% of shares on issue10× today ($0.300) — 143.5M of the priced supply in the money, 20.8% of shares on issue0.25×0.5×0.75×now1.25×1.5×2×3×5×10×

At $0.030 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 6.8M (1.0% 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.
  • 4.7M (3.1% 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.
  • 3.5M more carries an exercise price above ten times today’s — off the right of this axis, and in every total on this page.
CodeSecurityTypeExercise priceExpiryOn issueSource
GTIAAOptionsPrice-triggered$0.3031 Dec 20262.1MFiling
GTIAMOptionsPrice-triggered$0.4211 Nov 2027470kFiling
GTIABOptionsPrice-triggered$0.171 June 20283.0MFiling
GTIADOptionsPrice-triggered$0.1020 July 2028125.0MFiling
GTIANOptionsPrice-triggered$0.4511 Nov 2028922kFiling
GTIATOptionsPrice-triggered$0.101 Jan 20298.7MFiling
GTIAUOptionsPrice-triggered$0.06029 June 20296.8MFiling
GTIAPPerformance rightsCondition-triggered——4.7MFiling Meeting

“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.

A condition-triggered class has no exercise price and usually no expiry: what it vests on is set by a shareholder resolution, not by the register. Where the company lodged a notice of meeting before the class first appears here, it is linked as “Meeting” — that is where terms of this kind are put to shareholders. It is not confirmation that the document sets this class’s conditions, and no link appears where there is no such filing.

1 class ceased in the last 12 months and is not counted above
The company’s own Appendix 2A restates each of these at zero. They are excluded from the overhang, the in-the-money supply and every figure on this page. Each count is the filing’s own count of securities in the class, not a share count — a 2A never states what one security converts into.
  • GTIACPrice-triggered153k securities → 01 July 2026 Appendix 2A
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8 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
1 Sept 2026Iain DunstanOther—60k1.3M—3Y notice
21 July 2026Bryan ZekulichOther placement625k313k—$25k3Y notice
21 July 2026Iain DunstanOther placement625k313k1.3M$25k3Y notice
21 July 2026Michael HillOther placement625k313k481k$25k3Y notice
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14 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

7 Sept 2026Change of Director's Interest Notice - I Dunstan
6 Sept 2026$PGratifii Signs Agreement with Blackhawk
2 Sept 2026Notification of cessation of securities - GTI
30 Aug 2026$PPreliminary Final Report Announcement
30 Aug 2026$PPreliminary Final Report
26 Aug 2026$PResponse to ASX Price Query
26 Aug 2026$PPause in Trading
11 Aug 2026Notification regarding unquoted securities - GTI
30 July 2026$PQuarterly Activities/Appendix 4C Cash Flow Report
27 July 2026Application for quotation of securities - GTI
26 July 2026Completion of Mosh Acquisition
23 July 2026Becoming a substantial holder
22 July 2026Change in substantial holding
21 July 2026Change of Director's Interest Notice - M Hill
21 July 2026Change of Director's Interest Notice - B Zekulich
21 July 2026Change of Director's Interest Notice - I Dunstan
21 July 2026Change of Director's Interest Notice - P Kerr
21 July 2026Cleansing Statement
21 July 2026Notification regarding unquoted securities - GTI
21 July 2026Notification regarding unquoted securities - GTI

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