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PARKD advances modular car parks and new car showroom options

Proactive Investors Tuesday, 29 October 2019
The company spent $376,000 in the September 2019 financial quarter.  It ended the period with $2.1 million.  PARKD hopes to advance its modular car park system in Western Australia during the December half-year.  PARKD Ltd (ASX:PKD) is a transportable car park developer in Western Australia that is designing a new vehicle showroom and car storage facility for a prestige car dealership in Perth. This work includes delivery of documentation for development approval and tender documents for final contract pricing ahead of construction work. The Claremont-based company is also undertaking a fee-generating concept design for a multi-level car park on behalf of one of Australia's leading property investment funds. R&D activities PARKD is continuing its research and development activities to refine and improve its modular car park components to make them lighter, stronger and cheaper. This R&D activity enabled PARKD to claim a rebate for the 2019 financial year totalling $437,000, which is expected to be received during the current quarter. PARKD spent $376,000 in the September 2019 quarter and is forecasting $250,000 of cash outflows this quarter, as it spends $120,000 on product research, manufacturing costs and operating costs. Strong interest The company said today that interest in its modular reusable car park systems continued to be high, particularly from participants in a $650 million Federal Government commuter car park infrastructure system. The company is continuing to engage with commuter car park project participants. PARKD ended September 2019 with $2.1 million cash.

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