Axiom Properties Ltd (AU:AXI) has released an update.
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Axiom Properties Limited reported a decrease in cash reserves by $148,000 in the March quarter, leaving them with $1.819 million, after settling a significant land sale and investing in staff and development projects. The company also invested $100,000 in a future equity agreement with Digital Classifieds Group, anticipating a return in shares at a discount. Despite these expenditures, the company expects to see a crystallization of gains from its PropTech investments in the upcoming quarter to improve its financial position.
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