Mighty Kingdom Ltd (AU:MKL) has released an update.
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Mighty Kingdom Ltd has successfully raised $7.3 million through a capital raise and restructured to save $2.1 million annually, positioning themselves towards profitability by the first half of FY25. The company also highlighted its partnership with Google Fitbit on a kids’ smartwatch and is preparing to launch a co-developed game with East Side Games in the upcoming fiscal year. With a current cash balance of $3.3 million, the company is optimistic about receiving further government support and continuing their project momentum.
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