Companies / XPN

XPON TECHNOLOGIES GROUP LIMITED

ASX:XPNSoftware & Services
505.7M shares on issueASX (delayed) · snapshot 11 Sept 2026538.3M fully diluted+6.5% if every option and right converts$0.012price · delayed$6.1Mmarket cap · indicative

Today’s holders own 93.9% of what they think they own, once every option and right converts.

Moderate
Dilution risk

Share count grew 40% in 24 months; runway 4–8 quarters; 2 cash raises in 24 months

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway4.6 quarters of funding
Share-count growth (24m)39.5%
Raise cadence (24m)2 cash raises
Options & rights overhang6.5% of shares
In-the-money supplyno data — no exercise price on record
Pending proposed issuesopen proposed issue (Appendix 3B)

XPON TECHNOLOGIES GROUP LIMITED's ordinary share count grew 39.5% between June 2024 and September 2026, reaching 506M shares. The company raised capital twice in the past 24 months for total disclosed proceeds of A$529K, with the most recent being a A$425K placement in August 2025. Options and rights on issue could convert into 33M new shares, representing 6.5% of the current share count, of which 0% are in the money. An expiry date for these securities is not on record. At the June 2026 quarter, the company reported A$2.4M in available cash, sufficient for 4.6 quarters of operations. One proposed securities issue (Appendix 3B) is pending, with an expected issue date in October 2027.

AI-generated summary of this page's cited filings · updated 4 Sept 2026
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6.5%
Options & rights overhang
—
In-the-money supply · no stated strikes
0
Raises · last 12 months
4.6 qtrs
Cash cover · over 4 quarters

Shares on issue — last 2 years

Ordinary shares on issue
Weekly counts from ASX records. Dots mark cash capital raises. Latest count 505.7M per ASX (delayed) (snapshot 11 Sept 2026).
400M450M500MDec 24Oct 25Sept 26Cash raise · 27 Aug 2025Cash raise · 9 May 2025505.7M

Cash runway

4.6 qtrs
More than four quarters of funding at the recent spend rate.
Funds operations to about Aug 2027 at the reported spend rate.
$2.4M 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: $2.8M cash at quarter end (item 4.6), 10.5 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
4 Sept 20262A · quoted issueXPN : ORDINARY FULLY PAID505.7MAppendix 2A
1 Sept 20262A · quoted issueXPN : ORDINARY FULLY PAID495.4MAppendix 2A
17 June 20262A · quoted issueXPN : ORDINARY FULLY PAID492.9MAppendix 2A
2 Feb 20263H · cancellationXPN : ORDINARY FULLY PAID490.4MAppendix 3H
15 Dec 20253H · cancellationXPN : ORDINARY FULLY PAID490.4MAppendix 3H
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23 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 3.6 monthsaverage gap between raises
12.5 monthssince the most recent
9 May 2025 – 27 Aug 2025first to most recent in this window
$425k
Placement
27 Aug 2025 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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1 dated event 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

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

6.5%
Options & rights overhang · of current shares
—
In-the-money supply · no stated strikes
32.6M
Potential new shares
—
Nearest expiry
What this supply is, and what converts it
  • Price-triggered22.6M · 4.5% of shares
    Options and warrants — they convert when the share price clears their exercise price.
    No exercise price is on record for any of it, so none of it can be called in or out of the money.
  • Condition-triggered10.0M · 2.0% 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: 0 priced, 32.6M 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

No option supply on record carries an exercise price to pay, so no share price switches any of it on. All 32.6M of it converts on something else — a hurdle that may never be met, or terms the filing does not price.

CodeSecurityTypeExercise priceExpiryOn issueSource
XPNAQOptionsPrice-triggered——5.3MFiling
XPNAVPerformance rightsCondition-triggered——10.0MFiling Meeting
XPNAROptionsPrice-triggered——17.3MFiling

“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.
  • XPNAUPrice-triggered1.5M securities → 02 Feb 2026 Appendix 2A
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3 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
3 Sept 2026James OlsenOther incentive4.0M—4.0M—3Y notice
3 Sept 2026Mark SimariOther incentive6.3M—6.3M—3Y notice
15 June 2026James OlsenBuy on-market4.0M—4.0M$44k3Y notice
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5 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 2026Divestment of Datisan - ACCC Update
4 Sept 2026Change of Director's Interest Notice - J Olsen
4 Sept 2026Change of Director's Interest Notice - M Simari
4 Sept 2026Application for quotation of securities - XPN
1 Sept 2026Application for quotation of securities - XPN
24 Aug 2026Appendix 4G and Corporate Governance Statement
24 Aug 2026$PAppendix 4E and FY26 Annual Report
6 Aug 2026Notice of General Meeting/Proxy Form
20 July 2026$PQ4 FY26 Activity Report and Appendix 4C
18 June 2026Change of Director's Interest Notice - J Olsen
17 June 2026Application for quotation of securities - XPN
14 June 2026$PDivestment of Google GMP and GCP Business to Incubeta
2 June 2026$PXPON Divests Alpha Digital
31 May 2026XPON Accesses an $800k Loan Facility
1 May 2026Release of Shares from Escrow
29 Apr 2026$PQ3 FY26 Activity Report and Appendix 4C
23 Feb 2026$PFY26 Half Year Results Release
23 Feb 2026$PFY26 Half Year Report and Appendix 4D
2 Feb 2026Notification of cessation of securities - XPN
29 Jan 2026$PQ2 FY26 Activity Report and Appendix 4C

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