Falanx Group Ltd (GB:CHL) has released an update.
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Cloudified Holdings Limited, formerly Falanx Group Ltd, has successfully transitioned to a cash shell after selling its cyber security divisions and is now actively seeking a reverse takeover opportunity. Following the disposal on December 12, 2023, the company is debt-free with cash reserves of £530,000 as of March 31, 2024, and is currently incurring monthly costs of approximately £25,000. The company’s future direction includes potential value-creating acquisitions or returning funds to shareholders if no suitable RTO is identified.
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