We have participated in an issue of new securities in Family Zone Cyber Safety Limited (FZO) at $0.14 per share. The issue of securities is in two tranches, with the second tranche being subject to shareholder approval around the 4th November and expected to be issued on or around the 7th November. Tranche one of the issue is only for around 17% of the allocation and so today’s issue only represents a small portion of the overall commitment to the capital raising for your account.
FZO is a technology company focused on the cyber safety and parental control market. FZO has developed a unique and innovative cloud-based parental control solution which assists school duty of care obligations and keeps kids and families safe online. The Family Zone Platform incorporates networking and application technologies which allow cyber safety settings to be embedded within networks and importantly on the device itself. FZO’s unique solution permits schools and parents to collaborate in managing cyber access and allows telecommunications providers, device manufacturers and cyber safety professionals to participate in the Company’s cyber safety ecosystem. Since late 2018, FZO has signed more than $1 million in contracts, signed 6 reseller agreements and is live in 50 districts and 458 schools in the USA.
Peter Pawlowitsch is well known to Baker Young and will be joining the FZO’s Board of Directors in the position of Non-Executive Chairman. Peter currently holds directorships at Dubber Corporation (6 years including 3 years as Chairman), Knosys Limited (5 years), Novatti Group (5 years as Chairman) & VRX Silica (9 years). Peter was also an adviser on the listing of Zip Co Ltd. The Company’s revenue has grown strongly and is expected to accelerate. The Company has guided to cashflow break-even in CY 2020.