HITIQ Limited (ASX: HIQ) (HITIQ or the Company) today announces it has extended its existing secured loan facility agreement (Loan) with Keystone Capital Partners Pty Ltd (Keystone) by drawing an additional $400,000 secured against the expected FY24 R&D Tax Incentive (RDTI).
As announced on 18 March 2024, the company had previously entered into a loan facility for $997,211.83 against the expected R&D tax incentive available until that date, bringing the total amount repayable upon receipt of the RDTI to $1,397,211.83 plus interest accrued.
The loan allows for immediate access to funds based on the R&D expenditure incurred in FY2024 to 30 June 2024 and the expected R&D tax incentive to be received on this expenditure. Drawdown is expected within 3 business days of the date of this announcement. Repayment of the Loan will coincide with receipt of the Company's FY24 RDTI refund which, subject to release from the Australian Taxation Office, is expected on or before 30 September 2024
About HITIQ
HITIQ has an evidenced-based brain care solution company deploying world-class technologies. Our solutions include a sensor-enabled mouthguard to an AI-enabled data analytics interface and, best in class return to play/work support software. Our technology enables data driven decisions for thousands of professional and amateur sports players who experience brain impacts, empowers clinicians who care for their brains and enhance concussion management policies for progressive leagues around the globe. Our customers include the Australian Football League (AFL), English Premier League (EPL), and the National Rugby League (NRL), along with numerous other teams in a variety of sporting codes. We also service universities and research organisations studying the impacts (both short and long-term) of repeat head impacts
Contact:
Email: investors@hitiq.com
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