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PARKD fields strong interest for innovative modular car park solution

The modular car parking system provides the ability to relocate the car park or adapt it to parking demands by adding or subtracting to structural levels.

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The car parking system is prefabricated off site with the potential to reduce construction time, cost and site disruption

PARKD Ltd (ASX:PKD) continues to field strong interest from various industry sectors in the innovative multi-level, modular and reusable car parks that it has developed.

During the June quarter inquiries were received from the following industry sectors - national airports; public transport authorities; national retail shopping centre owners and operators; and automotive retail outlets.

A number of detailed and concept design works were completed during the quarter which the company is confident will lead to near-term construction projects using the PARKD car park system.

These included a concept design for a new vehicle showroom as well as a car storage facility for Audi Centre Perth.

READ: PARKD director Robert Martin tops up holding to more than 1.237 million shares

PARKD is a Perth-based construction technology company that has developed an innovative lightweight concrete modular car parking system.

The system was developed by the company’s founders after identifying a niche market for a flexible structure that has the ability to be cost effective, reusable and easy to construct.

READ: PARKD receives $470,000 boost through R&D cash refund

Net operating cash flows for the quarter totalled $95,000 after receipt of a $469,000 research and development rebate.

The company’s cash reserves were $2.43 million as at June 30, 2019.

Net operating cash flows for the quarter totalled $95,000 after receipt of a $469,000 research and development rebate.

In the June quarter, the company appointed Len Troncone as chief executive officer and Peter McUtchen as chief operating officer with the intention of facilitating dedicated efforts to develop and commercialise the patented car park construction technology and assess opportunities for strategic growth.

READ: PARKD reshuffles management, Troncone now CEO

PARKD aims to spend $244,000 on product research, manufacturing and operating costs during the current quarter with a total estimated cash outflow of $600,000.

Quick facts: PARKD Ltd

Price: 0.075 AUD

ASX:PKD
Market: ASX
Market Cap: $5.64 m
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PARKD bolsters leadership team with new chief financial officer appointment

Parkd Ltd (ASX:PKD) managing director Peter McUtchen updates Proactive Investors on the tech start-up's recent appointment of Len Troncone to the newly-created role of chief financial officer.    Troncone was instrumental in the development and delivery of shareholder value...

on 8/4/19

2 min read