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FY22 R&D Refund of ~$750K Received
DC Two Limited (ASX: DC2) (“DC Two” or the “Company”), a vertically integrated revenue generating data centre, cloud, and software business, is pleased to announce the approval of its FY22 Research & Development (R&D) tax incentive refund of $749,454.98.
The processing of the claim has now been completed by the Australian Taxation Office with funds received by the Company.
Blake Burton, Managing Director of DC Two, said “This substantial R&D tax incentive refund is representative of the scale of investment which we undertook in the 2022 financial year to advance the technology development within DC Two. These proceeds further strengthen our cash position to focus on the next stage of growth for DC Two moving into the 2024 financial year”.
With the divestment of the Company’s non-core modular assets expected to be completed in September 2023, subject to remaining condition precedents being satisfied (ASX: 31 July 2023), DC Two remains firmly focused on building out a unique technology offering into the broader cloud microservices sector powered by AI.
As part of the new strategy, in 2023 alone the Company has already completed the acquisition of Attained Group (ASX: 4 April 2023), and cyber security expert Thomas Cyber (ASX: 17 July 2023).
This announcement has been approved for release by the Board of DC Two.
INVESTOR RELATIONS CONTACT DETAILS:
Blake Burton Managing Director DC Two Limited 1300 331 888
This article includes content from DC Two, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.