viewRewardle Holdings

Rewardle Holdings receives $573,827 R&D tax incentive refund

The company expects R&D financing to remain a component of its working capital management strategy along with balancing operating costs against revenue-generating activity.

Rewardle Holdings - Rewardle Holdings receives $573,827 R&D tax incentive refund
Rewardle’s platform connects millions of members with thousands of local businesses.

Rewardle Holdings Ltd (ASX:RXH) has received a $573,827 refund under the Federal Government’s Research and Development (R&D) Tax Incentive program.

This has enabled the company to fully repaid an R&D financing loan from Radium Capital of $125,000 plus associated fees and interest.

The R&D Tax incentive scheme is a program that supports innovation in Australia and the payment is a refund for research and development expenditure incurred by Rewardle during the 2020 financial year.

Rewardle through its marketing and payments platform connects millions of members with thousands of local businesses across Australia.

This platform combines membership, points, rewards, payments and social media into a single cloud-based platform powered by Big Data analysis.

Valuable working capital

Rewardle founder and executive chairman Ruwan Weerasooriya said: “The R&D refund provides us with valuable working capital to support our ongoing research and commercialisation efforts.

“While the COVID-19 pandemic has caused significant challenges, it has also accelerated a number of key macro trends that enhance our value proposition and business model.

“We intend to continue investing in research and development, particularly in areas that COVID-19 has accelerated, while closely managing our working capital.”

Accelerated R& D spending

In keeping with the company’s strategy to exploit macro trend acceleration due to the COVID-19 pandemic, the company is maintaining its ongoing investment into research and development while closely managing working capital.

While R&D expenditure is incurred progressively during the Financial Year, refunds from the program are typically received 3-9 months from the end of the Financial Year.

R&D financing facility

The company established a financing facility for its FY20 R&D activity with specialist R&D lender Radium Capital.

The Radium loan assisted Rewardle in managing the cash flow asymmetry associated with the timing difference between investment in research and development activity and receipt of the FY20 R&D refund.

R&D financing is expected to remain an ongoing component of the company’s cash flow management strategy.

Quick facts: Rewardle Holdings


Price: 0.015 AUD

Market Cap: $7.89 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...


Emmerson Resources talks new high impact copper-gold drill targets at Kiola

Emmerson Resources Ltd (ASX:ERM)'s Rob Bills tells Proactive they're planning high impact drilling at the Kiola project in the Lachlan Fold Belt of NSW after a 3D MIMDAS geophysical model identified new copper-gold drill targets. The geophysical survey has been completed to assist the 2021...

3 hours, 29 minutes ago

2 min read