VivoPower International PLC Files Amended 20-F for Fiscal Year Ended June 30, 2023

TL;DR

<b>VivoPower International PLC has filed an amended 20-F detailing financial activities and capital raises for the fiscal year ending June 30, 2023.</b>

AI Summary

VivoPower International PLC (VVPR) filed a Amended Foreign Annual Report (20-F/A) with the SEC on February 21, 2024. VivoPower International PLC filed an amended 20-F for the fiscal year ended June 30, 2023. Transaction costs of $0.4 million were incurred in the year ended June 30, 2023, primarily related to capital raises on Nasdaq. On June 30, 2021, convertible preference shares and loan notes in Aevitas Group Limited were converted into 2,005,190 ordinary shares of VivoPower International PLC at $10.20 per share. During the year ended June 30, 2021, VivoPower completed capital raises on Nasdaq, issuing 4,091,019 ordinary shares. The company entered into a Securities Purchase Agreement on July 29, 2022, for a registered direct offering.

Why It Matters

For investors and stakeholders tracking VivoPower International PLC, this filing contains several important signals. This amended filing provides updated information on the company's financial performance and corporate actions, including details on capital raises and share issuances. The disclosure of transaction costs and share conversions offers insight into the company's financing strategies and shareholder structure during the reporting period.

Risk Assessment

Risk Level: medium — VivoPower International PLC shows moderate risk based on this filing. The filing is an amendment to a previous 20-F, indicating potential for revised disclosures or corrections, and the company has a history of capital raises which can be dilutive.

Analyst Insight

Review the specific details of the capital raises and share issuances mentioned in the amended filing to understand their impact on shareholder value and dilution.

Financial Highlights

debt To Equity

1.9

revenue

3,746,000

operating Margin

1.9

total Assets

11,059,348

total Debt

68,000

net Income

91,029

eps

0.012

gross Margin

8.6

cash Position

4,265,280

revenue Growth

4.5

Key Numbers

• 0.4 — Transaction Costs (Million USD for the year ended June 30, 2023)
• 2,005,190 — Ordinary Shares Issued (Upon conversion of debt instruments on June 30, 2021)
• 10.20 — Contracted Price per Share (For restricted ordinary shares issued on July 21, 2021)
• 4,091,019 — Ordinary Shares Issued (During capital raises on Nasdaq in the year ended June 30, 2021)

Key Players & Entities

• VivoPower International PLC (company) — Filer of the 20-F/A
• Nasdaq (company) — Exchange where capital raises occurred
• Aevitas Group Limited (company) — Entity whose debt instruments were converted
• AWN Holdings Limited (company) — Largest individual shareholder
• SEC (regulator) — Securities and Exchange Commission, filed with registration statements

FAQ

Risk Factors

• Transaction Costs [medium — financial]: The company incurred $0.4 million in transaction costs for the year ended June 30, 2023, primarily related to capital raises on Nasdaq.
• Share Issuances and Conversions [medium — financial]: Significant share issuances and conversions of debt instruments have occurred, impacting the company's capital structure.

Key Dates

• 2023-06-30: Fiscal Year End — Reporting period for the 20-F filing
• 2024-02-21: Filing Date — Date the amended 20-F was filed with the SEC

Key Financial Figures

• $0.012 — istered Ordinary Shares, nominal value $0.012 per share VVPR The Nasdaq Capital M
• $15.1 m — operations) generated total revenue of $15.1 million, gross loss of $2.3 million, oper
• $2.3 m — revenue of $15.1 million, gross loss of $2.3 million, operating loss of $15.3 million
• $15.3 million — loss of $2.3 million, operating loss of $15.3 million and a net loss of $22.4 million. Of the
• $22.4 million — loss of $15.3 million and a net loss of $22.4 million. Of these amounts, continuing operation
• $11.1 million — loss of $2.3 million, operating loss of $11.1 million and a net loss of $18.1 million. For th
• $18.1 million — loss of $11.1 million and a net loss of $18.1 million. For the year ended June 30, 2022, the
• $37.6 m — operations) generated total revenue of $37.6 million, gross profit of $1.6 million, op
• $1.6 m — venue of $37.6 million, gross profit of $1.6 million, operating loss of $15.1 million
• $15.1 million — ofit of $1.6 million, operating loss of $15.1 million and a net loss of $22.1 million. Of the
• $22.1 million — loss of $15.1 million and a net loss of $22.1 million. Of these amounts, continuing operation
• $22.4 m — tions of the Group generated revenue of $22.4 million, gross profit of $0.3 million, op
• $0.3 m — venue of $22.4 million, gross profit of $0.3 million, operating loss of $14.5 million
• $14.5 million — ofit of $0.3 million, operating loss of $14.5 million and a net loss of $21.4 million, includ
• $21.4 m — loss of $14.5 million and a net loss of $21.4 million, including $0.5 million prior yea

Filing Documents

• vpip20230630c_20fa.htm (20-F/A) — 4533KB
• ex_627035.htm (EX-12.1) — 9KB
• ex_627036.htm (EX-12.2) — 9KB
• ex_627037.htm (EX-13.1) — 5KB
• ex_627038.htm (EX-13.2) — 5KB
• ex_627039.htm (EX-15.1) — 4KB
• 0001437749-24-005075.txt (&nbsp;) — 21688KB
• vvpr-20230630.xsd (EX-101.SCH) — 175KB
• vvpr-20230630_cal.xml (EX-101.CAL) — 80KB
• vvpr-20230630_def.xml (EX-101.DEF) — 1001KB
• vvpr-20230630_lab.xml (EX-101.LAB) — 750KB
• vvpr-20230630_pre.xml (EX-101.PRE) — 1061KB
• vpip20230630c_20fa_htm.xml (XML) — 5448KB

Item 18

Item 17 Item 18 If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No Table of Contents Table of Contents EXPLANATORY NOTE VivoPower International PLC (the "Company" or "our") is filing this Amendment No. 2 on Form 20-F/A (this "Amendment") to its Annual Report on Form 20-F for the year ended June 30, 2023, which was initially filed with the Securities and Exchange Commission on October 2, 2023 and amended by Amendment No. 1 on Form 20-F/A on October 6, 2023 (as so amended, the "Original Filing"), in response to comments received from the U.S. Securities and Exchange Commission (the "SEC"). We are filing this Amendment to revise Items 5, 17, 18 and 19 of the Original Filing. Except for the matters described above, this Amendment does not modify or update disclosures in, or exhibits to, the Original Filing. TABLE OF CONTENTS PART I 1

Operating and Financial Review and Prospects

Item 5. Operating and Financial Review and Prospects 1 A. Operating Results 1 B. Liquidity and Capital Resources 12 C. Research and Development, Patents, Licenses, etc. 16 D. Trend Information 16 E. Critical Accounting Estimates 16 PART III 18

Financial Statements

Item 17. Financial Statements 18

Financial Statements

Item 18. Financial Statements 18

Exhibits

Item 19. Exhibits 18 Table of Contents Table of Contents Table of Contents

OPERATING AND FINANCIAL REVIEW AND PROSPECTS

ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS The following discussion and analysis of our financial condition and results of our operations should be read in conjunction with our audited consolidated financial statements and the related notes included elsewhere in this Annual Report. This discussion contains forward-looking statements that involve risks and uncertainties. Our actual results could differ materially from those anticipated in the forward-looking statements as a result of numerous factors, including, but not limited to, the risks discussed in this Annual Report in " Item 3. Key Information - D. Risk Factors " or in other parts of this Annual Report. Our audited consolidated financial statements included elsewhere in this Annual Report are prepared in accordance with IFRS, as issued by the International Accounting Standards Board and are presented in U.S. dollars. Note, results reported in years ended June 30, 2022 and 2021 have been adjusted to exclude the results of the ex-solar operations of Aevitas Solar and shown as a single line item in the income statement after profit after tax. Details of results for discontinued operations are included in Note 22 to the financial statements. A. Operating Results Overview Year Ended June 30 2023 2022 (restated) 2021 (US dollars in thousands) Continuing Discontinued Total Continuing Discontinued Total Continuing Discontinued Total Revenue from contracts with customers 15,060 - 15,060 22,448 15,168 37,616 23,975 16,436 40,411 Cost of sales (13,472 ) - (13,472 ) (20,308 ) (13,842 ) (34,150 ) (19,614 ) (14,470 ) (34,084 ) Cost of sales - non-recurring events (3,850 ) - (3,850 ) (1,881 ) - (1,881 ) - - - Gross profit (2,262 ) - (2,262 ) 259 1,326 1,585 4,361 1,966 6,327 General and administrative expenses (7,620 ) - (7,620 ) (13,811 ) (1,485 ) (15,296 ) (9,651 )

View Full Filing

View this 20-F/A filing on SEC EDGAR