Companies / VR1

VECTION TECHNOLOGIES LTD

ASX:VR1Software & Services
2.36B shares on issueASX (delayed) · snapshot 11 Sept 20262.75B fully diluted+16.4% if every option and right converts$0.019price · delayed$44.9Mmarket cap · indicative

Today’s holders own 85.9% of what they think they own, once every option and right converts.

Moderate
Dilution risk

Share count grew 78% in 24 months; 2 cash raises in 24 months; options/rights overhang 16% of shares

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runwaycash-generative (no net burn)
Share-count growth (24m)78.2%
Raise cadence (24m)2 cash raises
Options & rights overhang16.4% of shares
In-the-money supplyno data — an exercise price is on record for a minority of the supply
Pending proposed issuesopen proposed issue (Appendix 3B)

VECTION TECHNOLOGIES LTD's ordinary share count grew 78.2% between September 2024 and July 2026, reaching 2.36B shares. In the past 24 months, the company raised capital twice, for a total of A$24.6M, with the most recent being a A$21.0M placement in September 2025. Options and rights on issue could convert into 387M new shares, representing 16.4% of the current share count, with the nearest expiry in August 2027; none of these are currently in the money. As of the June 2026 quarter, the company reported A$11.1M in available cash and non-negative net operating cash flow, meaning no funding runway calculation is applicable. 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 9 Sept 2026
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16.4%
Options & rights overhang
—
In-the-money supply · most strikes not on record
1
Raises · last 12 months
No net burn
Cash cover · cash-generative

Shares on issue — last 2 years

Ordinary shares on issue
Weekly counts from ASX records. Dots mark cash capital raises. Latest count 2.36B per ASX (delayed) (snapshot 11 Sept 2026).
1.50B1.75B2.00B2.25BDec 24Oct 25Sept 26Cash raise · 24 Sept 2025Cash raise · 25 Apr 20252.36B

Cash runway

—
The latest quarterly report shows no net cash burn, so there is no cash-out date.
$11.1M 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: $9.6M cash at quarter end (item 4.6). 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
31 July 20262A · quoted issueVR1 : ORDINARY FULLY PAID2.36BAppendix 2A
19 June 20262A · quoted issueVR1 : ORDINARY FULLY PAID2.35BAppendix 2A
19 June 20263G · unquotedORDINARY FULLY PAID2.34BAppendix 3G
22 May 20262A · quoted issueVR1 : ORDINARY FULLY PAID2.34BAppendix 2A
9 Apr 20262A · quoted issueVR1 : ORDINARY FULLY PAID2.32BAppendix 2A
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37 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 · 1 in the last 12 months

every 5 monthsaverage gap between raises
11.6 monthssince the most recent
25 Apr 2025 – 24 Sept 2025first to most recent in this window
$21.0M
Placement
24 Sept 2025 COMPLETE
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15 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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4 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 11% of the 15% placement capacity left — about 89% used by Appendix 3B filings in the last 12 months (estimate, as at 2026-09-12). The company has also placed under the additional 10% (Listing Rule 7.1A), which is not counted in this figure. 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

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

16.4%
Options & rights overhang · of current shares
—
In-the-money supply · most strikes not on record
386.7M
Potential new shares
Aug 2027
Nearest expiry
What this supply is, and what converts it
  • Price-triggered367.1M · 15.5% of shares
    Options and warrants — they convert when the share price clears their exercise price.
    At least 355.1M of it states no exercise price — that much cannot be called in or out of the money.
  • Condition-triggered19.6M · 0.8% 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: 12.0M priced, 374.7M 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
193.3M386.7M$0.019 now0.25× today ($0.005) — 0 of the priced supply in the money, 0.0% of shares on issue0.5× today ($0.009) — 0 of the priced supply in the money, 0.0% of shares on issue0.75× today ($0.014) — 0 of the priced supply in the money, 0.0% of shares on issue1× today ($0.019) — 0 of the priced supply in the money, 0.0% of shares on issue1.25× today ($0.024) — 0 of the priced supply in the money, 0.0% of shares on issue1.5× today ($0.028) — 0 of the priced supply in the money, 0.0% of shares on issue2× today ($0.038) — 2.0M of the priced supply in the money, 0.1% of shares on issue3× today ($0.057) — 12.0M of the priced supply in the money, 0.5% of shares on issue5× today ($0.095) — 12.0M of the priced supply in the money, 0.5% of shares on issue10× today ($0.190) — 12.0M of the priced supply in the money, 0.5% of shares on issue0.25×0.5×0.75×now1.25×1.5×2×3×5×10×

An exercise price is on record for only 3.1% of this supply, so what is in the money today is not a measurement — the tile above reads “—” for that reason. Of the priced supply, 0 is in the money at $0.019 today. At double today’s price it is 2.0M (0.1% 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.
  • 374.7M (96.9% 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
VR1ADOptionsPrice-triggered$0.03018 Aug 20272.0MFiling
VR1OOptionsPrice-triggered—11 Nov 2027355.1MFiling
VR1AOOptionsPrice-triggered$0.04013 Oct 202810.0MFiling
VR1ACPerformance rightsCondition-triggered——18Filing Meeting
VR1AAPerformance rightsCondition-triggered——19.6MFiling 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.

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5 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
4 Dec 2025Mr Cameron PetricevicOther1.0M20.0M——3Y notice
3 Oct 2025Mr Cameron PetricevicBuy1.0M—1.0M—3Y notice
3 Oct 2025Mr Gianmarco BiagiBuy30.6M—24.0M—3Y 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

30 Aug 2026$PVection Reports FY26 Results
30 Aug 2026$PPreliminary Final Report
9 Aug 2026$PVection Receives $1.2m in Digital Health Government Grants
31 July 2026Cleansing Notice
31 July 2026Application for quotation of securities - VR1
27 July 2026$PQuarterly Activities/Appendix 4C Cash Flow Report
13 July 2026$PVection signs $7.5m Framework Agreement
5 July 2026$PVection receives $3.2M order from Retelit Digital Services
26 June 2026Details of Company Address
22 June 2026$PVection Secures $2.3m in New AI Related Contracts
19 June 2026Cleansing Notice
19 June 2026Notification regarding unquoted securities - VR1
19 June 2026Application for quotation of securities - VR1
31 May 2026$PVection gains $3.3m New Order for Algho AI
22 May 2026Cleansing Notice
22 May 2026Application for quotation of securities - VR1
20 May 2026$PVection Secures $1.1m in New Defence and AI Orders
29 Apr 2026$PQuarterly Activities/Appendix 4C Cash Flow Report
9 Apr 2026Cleansing Notice
9 Apr 2026Application for quotation of securities - VR1

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