- The research and development is related to the company’s innovative braking solutions
- Due to the company’s improved financial performance and position, there was no need to enter into a R&D prepayment loan
- This means the entire tax offset will be immediately available as working capital
- The company signed a Technology Licence Agreement with VEEM (VEE) for the Hawkei Protected Mobility Vehicle – Light project
- The Hawkei vehicle is for a defence contractor, Thales Australia, which is part of the Thales Group
- Advanced Braking is down 2.94 per cent and is trading at 3.3 cents just before market close on Friday, September 18
Advance Braking Technology: Receives $534k tax offset
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