Mobilicom, founded by Oren Elkayam and Yossi Segal, develops mobile technology and solutions in the absence of traditional infrastructure requirements such as satellites and towers, thereby saving tons of cash in capital expenditure. The company was incorporated in 2007 and is headquartered in Israel. Mobilicom powers 4G technologies with Mobile MESH network topology through secure wireless communication devices that currently have a range of around 50 kilometres between users. This is made possible by inserting wireless communication devices in automobiles, trains, offshore rigs and so on to enable persons using the Mobilicom network to connect with each other.
The product portfolio of the company is fully designed and developed internally to meet the ever-growing needs and challenges faced by critical communications, globally. According to Mobilicom, it has 30 clients in 12 countries with sales revenues of $ 2.5 million. To expand its presence in the Asia Pacific region and to fund its growth activities, the company is considering listing on the ASX under backdoor listings category and aims to get a $45 million valuation through the listing via a reverse takeover of Public Holdings Limited. The company’s revenues of $2.5 million this year is high when compared to companies that get through backdoors listing on the ASX. The company is in a key technology area and has strong leadership team.
According to a circular issued by ASX in June this year, Public Holdings (Australia) Limited (ASX: PHA) was said to acquire 100 percent of the issued share capital of Mobilicom Limited (Mobilicom) and raise anywhere between $5 million to 10 million to fund the company’s sales and new product lines. On receiving all the requisite approvals from the Board, shareholder and regulatory authorities including the ones under the Corporations Act and the ASX Listing Rules, PHA would acquire all the issued capital of Mobilicom for US $23.5 million (A$32.5 million approx.), by issuing ordinary shares at A$0.10 (10 cents) per share. PHA was said to be tasked with raising a minimum capital of A$5 million and a maximum of A$10 million by issuing anywhere between 50 million and 100 million PHA shares at A$0.10 per share. It was then said that on successful completion of the contract, the Company will change its name to Mobilicom Limited.
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