Companies / PKP

PEAK PROCESSING LIMITED

ASX:PKPPharmaceuticals, Biotechnology & Life Sciences
1.34B shares on issueASX (delayed) · snapshot 11 Sept 20261.50B fully diluted+12.1% if every option and right converts$0.015price · delayed$20.1Mmarket cap · indicative

Today’s holders own 89.2% of what they think they own, once every option and right converts.

High
Dilution riskprovisional — limited history

Runway under 2 quarters; share count grew 16% in 24 months; 3 cash raises in 24 months; since relisting as PKP; prior history under AGH not included

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway0.1 quarters of funding
Share-count growth (24m)15.6%since relisting as PKP; prior history under AGH not included
Raise cadence (24m)3 cash raisessince relisting as PKP; prior history under AGH not included
Options & rights overhang12.1% of shares
In-the-money supply0.0% of shares
Pending proposed issuesopen proposed issue (Appendix 3B)

PEAK PROCESSING LIMITED, which trades as PKP only since December 2025, had its ordinary share count increase 15.6% between February 2026 and September 2026, to 1.34B shares. In the past 24 months, the company completed three capital raises totalling A$7.7M, with the most recent being a A$2.4M Convertible Note Raising in May 2026. Options and rights on issue could convert into 162M new shares, representing 12.1% of the current share count, with the nearest expiry in February 2027; none are currently in the money. At the June 2026 quarter, the company reported A$135K in available cash, covering approximately 0.1 quarters. One proposed securities issue (Appendix 3B) is pending, with an expected issue date in November 2026.

AI-generated summary of this page's cited filings · updated 11 Sept 2026
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12.1%
Options & rights overhang
0.0%
In-the-money supply
3
Raises · last 12 months
0.1 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. Shown since relisting as PKP (8 Dec 2025); prior history under AGH is not included. Latest count 1.34B per ASX (delayed) (snapshot 11 Sept 2026).
1.0B1.1B1.2B1.3BDec 25Apr 26Sept 26Cash raise · 1 May 2026Cash raise · 28 Jan 20261.34B

Cash runway

0.1 qtrs
Less than two quarters of funding at the recent spend rate — near-term funding pressure.
The latest quarterly report funded operations to about June 2026 — that date has passed, and no later report is on record.
$117k 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: $1.4M cash at quarter end (item 4.6), 0.9 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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3 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
6 Sept 20262A · quoted issuePKP : ORDINARY FULLY PAID1.34BAppendix 2A
24 July 20262A · quoted issuePKP : ORDINARY FULLY PAID1.33BAppendix 2A
30 June 20263G · unquotedPKP : ORDINARY FULLY PAID1.16BAppendix 3G
29 June 20262A · quoted issuePKP : ORDINARY FULLY PAID1.32BAppendix 2A
29 June 20263G · unquotedPKP : ORDINARY FULLY PAID1.16BAppendix 3G
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12 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

3 cash raises in the last 24 months · 3 in the last 12 months · counted since relisting as PKP (8 Dec 2025); prior history under AGH is not included

every 3.7 monthsaverage gap between raises
4.4 monthssince the most recent
17 Sept 2025 – 1 May 2026first to most recent in this window
$2.4M
Convertible Note Raising
1 May 2026 COMPLETE
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4 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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9 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 estimate — no share count old enough to measure 15% of. 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

1 proposed issue pending — Appendix 3B lodged, securities not yet issued. New shares from these issues are not in the counts above until quoted.
Paid plan
1 pending issue on record — Pending issue detail
Size, price, fees, broker and placement-capacity usage for each pending issue.
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Options & convertible securities

12.1%
Options & rights overhang · of current shares
0.0%
In-the-money supply · at current price
162.4M
Potential new shares
Feb 2027
Nearest expiry
What this supply is, and what converts it
  • Price-triggered160.3M · 12.0% of shares
    Options and warrants — they convert when the share price clears their exercise price.
  • Condition-triggered2.1M · 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: 160.3M priced, 2.1M 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
81.2M162.4M$0.015 now0.25× today ($0.004) — 0 of the priced supply in the money, 0.0% of shares on issue0.5× today ($0.007) — 0 of the priced supply in the money, 0.0% of shares on issue0.75× today ($0.011) — 0 of the priced supply in the money, 0.0% of shares on issue1× today ($0.015) — 0 of the priced supply in the money, 0.0% of shares on issue1.25× today ($0.019) — 0 of the priced supply in the money, 0.0% of shares on issue1.5× today ($0.022) — 0 of the priced supply in the money, 0.0% of shares on issue2× today ($0.030) — 85.0M of the priced supply in the money, 6.3% of shares on issue3× today ($0.045) — 150.1M of the priced supply in the money, 11.2% of shares on issue5× today ($0.075) — 160.3M of the priced supply in the money, 12.0% of shares on issue10× today ($0.150) — 160.3M of the priced supply in the money, 12.0% of shares on issue0.25×0.5×0.75×now1.25×1.5×2×3×5×10×

At $0.015 today, 0 securities are in the money (0.0% of shares on issue). At double today’s price it is 85.0M (6.3% 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.
  • 2.1M (1.3% 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
PKPAHOptionsPrice-triggered$0.04028 Feb 202725.0MFiling
PKPAIOptionsPrice-triggered$0.03028 Apr 202725.0MFiling
PKPAJOptionsPrice-triggered$0.0301 Aug 20275.0MFiling
PKPAAOptionsPrice-triggered$0.02515 Dec 202713.0MFiling
PKPAFOptionsPrice-triggered$0.03931 Jan 202810.1MFiling
PKPAGOptionsPrice-triggered$0.04631 Jan 202810.1MFiling
PKPAKOptionsPrice-triggered$0.02530 Sept 202847.0MFiling
PKPABOptionsPrice-triggered$0.02513 Feb 202925.0MFiling
PKPAEPerformance rightsCondition-triggered——2.1MFiling

“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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9 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
24 July 2026Barry KatzmanOther incentive5.7M—1.1M$158k3Y notice
30 June 2026Matt AdamsBuy on-market300k7.0M—$5k3Y notice
29 June 2026Manik PujaraOther placement8.0M6.0M—$68k3Y notice
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7 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 2026Cleansing notice
6 Sept 2026Application for quotation of securities - PKP
4 Sept 2026Proposed issue of securities - PKP
4 Sept 2026Issue of Establishment Fee Shares
31 Aug 2026$PPreliminary Final Report
29 July 2026$PQuarterly Activities/Appendix 4C Cash Flow Report
26 July 2026Change of Director's Interest Notice - B Katzman
26 July 2026Cleansing notice
24 July 2026Application for quotation of securities - PKP
15 July 2026Change in substantial holding
1 July 2026Change of Director's Interest Notice - M Pujara
30 June 2026Change of Director's Interest Notice - M Adams
30 June 2026Cleansing notice
30 June 2026Notification regarding unquoted securities - PKP
29 June 2026Application for quotation of securities - PKP
29 June 2026Application for quotation of securities - PKP
29 June 2026Notification regarding unquoted securities - PKP
29 June 2026Application for quotation of securities - PKP
29 June 2026PKP Expands into the US Market with Fryday Kush
25 June 2026Results of Meeting

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