4 questions lodged at 2026 Hitiq (HIQ) hybrid AGM
February 6, 2026
Below is the text of the 4 written questions submitted at the 15 minute Hitiq (HIQ) 11am hybrid EGM on February 6, 2026 held at South Melbourne HQ and via this Vistra/Zoom link to approve 10 capital raising resolutions. Market cap $9m on EGM day with stock at 0.017c. See notice of meeting and voting results. The proxy votes were commendably disclosed early in these slides lodged with the ASX. There were no protest votes.
Q1.Thank you for offering a best practice hybrid EGM today, which maximises the opportunity for shareholder participation. Have any of our 1,805 shareholders turned up in South Melbourne who are not working or friends or family of the board or management? And apart from me, how many independent shareholders have registered to participate via Zoom today?
Answer: This one was asked at the end of the 11 minute meeting after the formalities had closed. Chair Earl Eddings confirmed that no one turned up to the South Melbourne HQ and question wrangler Michelle Sabatino confirmed only 4 Zoom registrations. Shocking apathy given Hitiq has 1805 shareholders. Watch video of exchange via Twitter.
Q2. Why weren't your 1805 retail shareholders given an opportunity to participate in this capital raising through an SPP and now that we're issuing all these new shares at less than 1c, will we propose a share consolidation resolution at the next AGM to reduce the number of shares on issue? It's not a good look being a $9m market cap company with more than 500m shares on issue.
Answer: Question wrangler Michelle Sabatino edited this one down and chair Earl Eddings said they would look at a consolidation going forward. Watch video of exchange via Twitter.
Q3. I'm a relatively new shareholder and don't understand the history. The latest accounts show we have $32.7m in accumulated losses and negative equity of $4m yet our market cap is $9m which suggests we've been too aggressive with write-downs and expensing capital expenditure over the years. We reported a loss of $7.2m last year. Can placement participant Tony Toohey see a time frame where we'll be reporting statutory profits and be cash flow positive?
Answer: The question wrangler edited this one down and director Tony Toohey seemingly wasn't on the call so executive chair Earl Eddings stepped up to answer but wasn't making predictions about when the losses would end. Watch video of exchange via Twitter.
Q4. I'm not a fan of paying brokers and investment bankers with equity because they are not generally long term holders and it gives then an incentive to talk up the stock to clients in order to facilitate a more profitable exit. What is our history with SP Corporate Advisory and whose idea was it to partially pay them via this resolution. Will you commit to not do this again?
Answer: The chair Earl Eddings ran the usual cash preservation argument. The wrangler censored the bit explaining the governance concern. Watch video of exchange via Twitter.
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