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Zaim Credit Systems Plc ( (GB:ZAIM) ) just unveiled an announcement.
Adalan Ventures plc has reported an unaudited interim loss of £208,175 for the six months to 30 June 2024, a sharp increase from a £10,000 loss a year earlier, driven by staff costs and higher operating expenses. The company’s balance sheet remains weak, with negative net assets widening to £783,006 as cash and cash equivalents fell to just £6,664 against liabilities of £789,670, underscoring its reliance on securing fresh funding to continue its search for an acquisition target and complete a planned reverse takeover. Directors state the accounts have been prepared on a going concern basis, but explicitly warn that failure to raise additional capital would pose a significant risk to the company’s ability to continue operating, a key concern for shareholders and potential transaction counterparties.
More about Zaim Credit Systems Plc
Adalan Ventures plc is a UK-listed cash shell focused on identifying and acquiring an operating business with the intention of executing a reverse takeover. The company currently has no trading operations and is primarily engaged in maintaining its listing status and pursuing suitable acquisition opportunities, while operating with minimal cash expenditure.
Technical Sentiment Signal: Sell
Current Market Cap: £2.31M
See more insights into ZAIM stock on TipRanks’ Stock Analysis page.