Companies / OIL

OPTISCAN IMAGING LIMITED

ASX:OILHealth Care Equipment & Services
1.05B shares on issueASX (delayed) · snapshot 11 Sept 20261.07B fully diluted+2.0% if every option and right converts$0.15price · delayed$162.0Mmarket cap · indicative

Today’s holders own 98.1% of what they think they own, once every option and right converts.

Low
Dilution risk

Runway 2–4 quarters; 2 cash raises in 24 months; 1% of shares in the money

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway3.7 quarters of funding
Share-count growth (24m)0.1%
Raise cadence (24m)2 cash raises
Options & rights overhang2.0% of shares
In-the-money supply0.9% of shares
Pending proposed issuesnone

OPTISCAN IMAGING LIMITED's ordinary share count grew 0.1% between September 2025 and September 2026, standing at 1.05B shares. The company raised capital twice in the past 24 months, totalling A$35.5M, with the most recent being a A$17.8M Renounceable Entitlement Offer in August 2025. Options and rights on issue could convert into 20M new shares, representing 2.0% of the current share count, with 1.0% of these being in the money; the nearest expiry date is June 2027. As of the June 2026 quarter, the company reported A$11.8M in available cash, sufficient to cover approximately 3.7 quarters of operations. No proposed securities issues are currently pending.

AI-generated summary of this page's cited filings · updated 11 Sept 2026
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2.0%
Options & rights overhang
0.9%
In-the-money supply · most strikes not on record
0
Raises · last 12 months
3.7 qtrs
Cash cover · 2–4 quarters

Shares on issue — last 2 years

Ordinary shares on issue
Weekly counts from ASX records. Dots mark cash capital raises. Latest count 1.05B per ASX (delayed) (snapshot 11 Sept 2026).
0.85B0.90B0.95B1.00B1.05BDec 24Oct 25Sept 26Cash raise · 27 Aug 2025Cash raise · 26 Aug 20251.05B

Cash runway

3.7 qtrs
Two to four quarters of funding at the recent spend rate.
Funds operations to about May 2027 at the reported spend rate.
$11.7M 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: $14.4M cash at quarter end (item 4.6), 23.2 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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15 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
9 Sept 20262A · quoted issueOIL : ORDINARY FULLY PAID1.05BAppendix 2A
8 Sept 20262A · quoted issueOIL : ORDINARY FULLY PAID1.04BAppendix 2A
15 Jan 20263G · unquotedOIL : ORDINARY FULLY PAID1.04BAppendix 3G
23 Sept 20252A · quoted issueOIL : ORDINARY FULLY PAID1.04BAppendix 2A
29 May 20253H · cancellationOIL : ORDINARY FULLY PAID835.3MAppendix 3H
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7 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

2 cash raises in the last 24 months · 0 in the last 12 months

every 0 monthsaverage gap between raises
12.5 monthssince the most recent
26 Aug 2025 – 27 Aug 2025first to most recent in this window
$17.8M
Renounceable Entitlement Offer
27 Aug 2025 COMPLETE
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2 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.

200k of option supply could convert within 12 months — 0.0% of shares on issue
200k in the money, expiring in the window
Out-of-the-money options are excluded — at today’s price they expire rather than convert. So is condition-triggered supply, which has no expiry and no price, and convertibles that convert on their own terms rather than on a date.
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2 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.

No Appendix 3B in the last 12 months reports an issue under the 15% placement capacity (as at 2026-09-12).
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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

2.0%
Options & rights overhang · of current shares
0.9%
In-the-money supply · most strikes not on record
20.4M
Potential new shares
June 2027
Nearest expiry
What this supply is, and what converts it
  • Price-triggered18.1M · 1.7% of shares
    Options and warrants — they convert when the share price clears their exercise price.
    At least 9.0M of it states no exercise price — that much cannot be called in or out of the money.
  • Condition-triggered2.3M · 0.2% 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: 9.1M priced (of which 9.1M in the money), 11.3M 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
10.2M20.4M$0.15 now0.25× today ($0.04) — 0 of the priced supply in the money, 0.0% of shares on issue0.5× today ($0.08) — 0 of the priced supply in the money, 0.0% of shares on issue0.75× today ($0.12) — 200k of the priced supply in the money, 0.0% of shares on issue1× today ($0.15) — 9.1M of the priced supply in the money, 0.9% of shares on issue1.25× today ($0.19) — 9.1M of the priced supply in the money, 0.9% of shares on issue1.5× today ($0.23) — 9.1M of the priced supply in the money, 0.9% of shares on issue2× today ($0.31) — 9.1M of the priced supply in the money, 0.9% of shares on issue3× today ($0.46) — 9.1M of the priced supply in the money, 0.9% of shares on issue5× today ($0.78) — 9.1M of the priced supply in the money, 0.9% of shares on issue10× today ($1.55) — 9.1M of the priced supply in the money, 0.9% of shares on issue0.25×0.5×0.75×now1.25×1.5×2×3×5×10×

At $0.15 today, 9.1M securities are in the money (0.9% of shares on issue) — a floor, because an exercise price is on record for only 44.6% of this supply. No price up to ten times today’s switches on any more priced supply.

  • 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.
  • 11.3M (55.4% 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
OILAROptionsPrice-triggered$0.0817 June 2027200kFiling
OILAEOptionsPrice-triggered$0.1513 Jan 20308.9MFiling
OILADPerformance rightsCondition-triggered——2.3MFiling Meeting
OILABOptionsPrice-triggered——9.0MFiling

“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.

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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
9 Sept 2026Mr Ron SongOther incentive231k—231k—3Y notice
7 Sept 2026Mr Robert CookeOther incentive419k—419k—3Y notice
22 May 2026Mr Ron SongSell off-market3.0M—231k$360k3Y notice
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15 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

9 Sept 2026$PSignificant Milestone Reached in ACL Digital Pathology Study
9 Sept 2026Change of Director's Interest Notice
9 Sept 2026Application for quotation of securities - OIL
8 Sept 2026Application for quotation of securities - OIL
8 Sept 2026Change of Director's Interest Notice
8 Sept 2026Change of Director's Interest Notice
31 Aug 2026$POptiscan Initiates Head and Neck Cancer Study in the US
24 Aug 2026Appendix 4G & Corporate Governance Statement
24 Aug 20262026 Annual Report
24 Aug 2026$PPreliminary Final Report
30 July 2026$PQuarterly Activities/Appendix 4C Cash Flow Report
21 July 2026$POptiscan Signs New Research Agreement for Breast Study
20 July 2026$PHead and Neck Study Progressing Ahead of Schedule
6 July 2026$POptiscan Launches InSpecta Device for Veterinary Medicine
3 June 2026$PHalfway Mark Reached in Optiscan Breast Cancer Study
1 June 2026$PSecond Anniversary of Optiscan and Mayo Clinic Agreement
25 May 2026Change of Director's Interest Notice
19 May 2026$POptiscan Receives $1.69m R&D Tax Refund
29 Apr 2026$PQuarterly Activities/Appendix 4C Cash Flow Report
30 Mar 2026$POptiscan Submits InSpecta FDA Dossier

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