Iperion Limited Analysis

Overview

Iperion Limited (formally Southern Charter Financial Group Limited) is in the process of commercializing a novel antimicrobial coating product, being marketed under the name Pathoglaze. Early in 2023 Iperion entered into a license agreement granting the company an exclusive, worldwide, sub-licensable licence to manufacture, use, sell, distribute, import and export a self-cleaning, transparent, antimicrobial, surface coating product. A pilot manufacturing facility has since been established in Malaysia. The manufacturing facility and production is fully outsourced. The company is now actively marketing Pathoglaze.

Prior to 2023 the company did not have an operating business, but was searching for and investigating opportunities for acquiring a new business. This followed the completion of transactions on 31 August 2017 that injected cash, introduced a new controlling shareholder and spun-out all previous assets, liabilities and business operations.

Performance

The following information was extracted from Iperion Limited's full year results, released on 29 May 2024:

Financial Results

The Company reported a net loss attributable to shareholders of $812,259 for the year. This compares with a net loss attributable to shareholders of $280,107 for the previous year.

A significant part of the cost for the year related to the establishment and operation of the outsourced pilot manufacturing plant. The manufacturing plant expense for the year was $500,000, of which $100,000 was for the establishment of the facility, with the balance of $400,000 being the fixed annual facility and operating fees.

Administrative expenses for the year were $344,372 increasing by $38,175 on the prior year. The expenses consist mostly of regulatory compliance costs, but increased during the year to include expenditure on oversight of the manufacturing plant and in commencing product marketing activities.