Slide 1: Second Quarter 2019 Financial Results Conference Call
Second Quarter 2019 Financial Results Conference Call
Slide 2: Forward Looking Statements
Forward Looking Statements 2 This presentation contains express or implied forward - looking statements within the Private Securities Litigation Reform Act of 1995 and other U.S. federal securities laws. These forward - looking statements include, but are not limited to, those statements regarding t
Slide 3: No Offer or Solicitation
No Offer or Solicitation This communication is not intended to and does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities or the solicitation of any vote in any jurisdiction pursuant to the proposed tr
Slide 4: Participants in Solicitation
Participants in Solicitation MICT and its directors and executive officers, may be deemed to be participants in the solicitation of proxies for the special meeting of MICT’s stockholders to be held to approve the proposed business combination. Information regarding the persons who may, under the rul
Slide 5: Q2 2019 Developments
5 Q2 2019 Developments ▪ The acquisition agreement among MICT, BNN Technology PLC, and Paragonex Ltd. signed on December 18, 2018 is progressing and we hope to close on the transaction ▪ We entered into definitive agreements relating to MICT’s largest series of funding to date pursuant to which the
Slide 6: Q2 2019 Financial Results Highlights
6 ▪ MICT currently holds a 39.53% voting stake in Micronet, and therefore, based on U.S. GAAP rules, MICT no longer reports consolidated results due to its reduced ownership of Micronet effective March 1, 2019 ▪ While Micronet had received orders totaling $3.6 million for the three months ended June
Slide 7: Revenues for Quarter and Six Months Ended
Revenues for Quarter and Six Months Ended June 30, 2019 7 $4.70 $0.00 $0 $1 $1 $2 $2 $3 $3 $4 $4 $5 $5 Q2 2018 Q2 2019 (In millions) $10.70 $0.48 $0 $2 $4 $6 $8 $10 $12 Q1-2 2018 Q1-2 2019
Slide 8: Income Statement Highlights
8 Income Statement Highlights (in 000s except share and per share data) Six months ended June 30, Three months ended June 30, 2019 2018 2019 2018 Revenues $ 477 $ 10,681 $ - $ 4,701 Cost of revenues 846 7,427 - 3,169 Gross profit (loss) (369) 3,254 - 1,532 Operating expenses: Research and developmen
Slide 9: Balance Sheet
Balance Sheet June 30, 2019 (Unaudited) December 31, 2018 (Audited) Cash, cash equivalents and restricted cash $0.06 M $2.2 M Trade account receivable, net $0 M $1.0 M Bank & others debts $2.0 M $5.8 M Net working capital $(2.1 M) $(0.6 M) Stockholders’ equity $(0.86 M) $1.0 M 9 In Millions
Slide 10: MICT, Inc. - Always in Front