How Will Bod Science Navigate $576k Cash Outflow Under DOCA Backing?
Bod Science Limited reported a $576,000 net operating cash outflow for the September quarter, sustained by funding from Biortica Agrimed Limited under a Deed of Company Arrangement as it pursues a backdoor listing.
- Net operating cash outflow of $576k for September quarter
- Cash and cash equivalents fell to $61k at quarter end
- Funding support provided by Biortica Agrimed Limited under DOCA
- No financing activities or capital raising during the quarter
- Payments to directors totaled $35k in salaries and fees
Quarterly Cash Flow Overview
Bod Science Limited, currently under a Deed of Company Arrangement (DOCA), has released its quarterly cash flow report for the period ending 30 September 2025. The company recorded a net operating cash outflow of $576,000, primarily driven by administration and legal fees incurred since entering administration. Despite these outflows, Bod Science continues to operate with financial support from Biortica Agrimed Limited, which is funding ongoing trading costs under a Heads of Agreement signed earlier this year.
Financial Position and Funding
At the end of the quarter, Bod Science held just $61,000 in cash and cash equivalents, a significant reduction from the previous quarter's $1.037 million. The company reported no financing activities or capital raising during this period, underscoring its reliance on the DOCA arrangement and Biortica's backing. The estimated funding runway stands at approximately 0.11 quarters without additional cash inflows, highlighting the critical nature of ongoing support.
Operational and Corporate Costs
Operating expenses included $584,000 in administration fees and $475,000 in legal and other fees related to the administration process. Payments to related parties, specifically directors, amounted to $35,000 in salaries and fees. These costs have weighed heavily on the company's cash position but are part of the necessary steps to maintain operations during this transitional phase.
Outlook Under the DOCA
Bod Science expects to continue its operations under the DOCA, supported by Biortica's funding, which is intended to facilitate a backdoor listing by Biortica. While the current cash position is precarious, the company’s management expresses confidence in meeting business objectives through this arrangement. However, the timeline and certainty of the backdoor listing remain undisclosed, leaving some uncertainty about the company’s longer-term prospects.
Bottom Line?
Bod Science’s survival hinges on Biortica’s continued funding and the successful completion of the backdoor listing.
Questions in the middle?
- What is the expected timeline for the completion of the backdoor listing by Biortica?
- How will Bod Science manage cash flow if administration-related costs persist or increase?
- Are there plans for additional capital raising or financing to extend the company’s runway?
