WAY 2 VAT LTD.
ASX:W2VSoftware & ServicesToday’s holders own 78.5% of what they think they own, once every option and right converts.
Runway under 2 quarters; share count grew 234% in 24 months; 8 cash raises in 24 months
Between October 2024 and September 2026, its latest share-count filing, WAY 2 VAT LTD.'s ordinary share count grew 234.3%, adjusted for the approximately 1-for-10 share consolidation in December 2025, to 303M shares. The company raised capital eight times in the past 24 months, totalling A$14.0M, most recently a A$2.1M placement in September 2026. Options and rights on issue represent 83M potential new shares, a 27.4% overhang, none in the money, with the nearest expiry in December 2028. As of its June 2026 quarter, the company had under 2 quarters of funding at the recent spend rate. One proposed securities issue is pending with an expected date of November 2026.
Quick answers · 3
Is W2V raising capital?
Way 2 Vat has 1 proposed issue of securities pending under Appendix 3B as at 28 Oct 2026; the most recent raise announced is Placement of $2.1M on 9 Sept 2026.
How much cash does W2V have?
In its quarterly cash report for the quarter ended 30 June 2026, Way 2 Vat reported $1.9M of cash and estimated 1.4 quarters of funding available at its current rate of spending. That is the company's own estimate.
When do W2V's options expire?
Unexercised options and rights equal 27.4% of Way 2 Vat's shares on issue; the nearest expiry is Dec 2028.
Shares on issue — last 2 years
Cash runway
Issuance timeline
Latest 5 filings (Appendix 2AThe form a company lodges to have new securities quoted on the ASX. It restates how many of each class are on issue. quoted issues, 3G unquoted, 3H cancellations)
| Date | Form | Security | On issue, per this filing | Source |
|---|---|---|---|---|
| 14 Oct 2026 | 3H · cancellation | W2V : ORDINARY FULLY PAID | 303.2M | Appendix 3H |
| 15 Sept 2026 | 2A · quoted issue | W2V : ORDINARY FULLY PAID | 303.2M | Appendix 2A |
| 9 July 2026 | 3H · cancellation | W2V : ORDINARY FULLY PAID | 261.0M | Appendix 3H |
| 18 June 2026 | 3G · unquoted | W2V : ORDINARY FULLY PAID | 259.6M | Appendix 3G |
| 18 June 2026 | 3G · unquoted | W2V : ORDINARY FULLY PAID | 259.6M | Appendix 3G |
Securities on issue over time
Ordinary shares and every option and rights class, month by month over two years. The top edge is the fully diluted count.
Capital raises
6 cash raises in the last 24 months · 2 in the last 12 months
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.
Placement capacity
How much stock a company can place without asking holders. Listing Rule 7.1 / 7.1ARule 7.1 lets a company issue up to 15% of its shares in 12 months without a shareholder vote. Rule 7.1A adds 10% for smaller companies whose holders approve it. allows 15% of ordinary securities in any 12 months, and every Appendix 3BNotice that a company proposes to issue new securities, such as a placement. The securities are not on issue until a later filing confirms it. states how much of it an issue uses.
Pending proposed issues
Options & convertible securities
At $0.031 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 37.1M (12.2% 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.
- 27.6M (33.2% 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.
| Code | Security | Type | Exercise price | Expiry | On issue | Source |
|---|---|---|---|---|---|---|
| W2VAA | Options | Price-triggered | $0.10 | 15 Dec 2028 | 7.5M | Filing |
| W2VAE | Options | Price-triggered | $0.10 | 31 Dec 2028 | 1.0M | Filing |
| W2VAF | Options | Price-triggered | $0.15 | 31 Dec 2028 | 3.0M | Filing |
| W2VAG | Options | Price-triggered | $0.17 | 31 Dec 2028 | 1.0M | Filing |
| W2VAJ | Options | Price-triggered | $0.070 | 18 June 2029 | 37.1M | Filing |
| W2VAP | Options | Price-triggered | $0.10 | 14 Aug 2033 | 167k | Filing |
| W2VAQ | Options | Price-triggered | $0.20 | 14 Aug 2033 | 167k | Filing |
| W2VAR | Options | Price-triggered | $0.30 | 14 Aug 2033 | 167k | Filing |
| W2VAS | Options | Price-triggered | $0.10 | 3 Oct 2033 | 1.3M | Filing |
| W2VAT | Options | Price-triggered | $0.20 | 3 Oct 2033 | 1.3M | Filing |
| W2VAU | Options | Price-triggered | $0.30 | 3 Oct 2033 | 1.3M | Filing |
| W2VAI | Options | Price-triggered | $0.10 | 29 Jan 2036 | 1.5M | Filing |
| W2VAH | Options | Price-triggered | $0.10 | 25 Feb 2036 | 167k | Filing |
| W2VAD | Options | Price-triggered, no exercise price stated | — | — | 8.2M | Filing |
| W2VAB | Options | Price-triggered, no exercise price stated | — | — | 19.4M | Filing |
“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. For what expires soon across other listed companies, see the options expiry calendar.
Director dealings
| Date | Director | Type | Shares | Options | Other | Value | Source |
|---|---|---|---|---|---|---|---|
| 18 June 2026 | Adoram Ga'ash | Other incentive | 664k | — | — | — | 3Y notice |
| 18 June 2026 | Amos Simantov | Other | 1.9M | 14.5M | — | — | 3Y notice |
| 18 June 2026 | David Buckingham | Other incentive | 728k | — | — | — | 3Y notice |
| 18 June 2026 | Robert Edgley | Other incentive | 73k | 1.6M | — | — | 3Y notice |
Ownership
Latest announcements
Headlines link to the source PDFs on the ASX announcements platform. Data as of 28 Oct 2026.