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Kondor Ai Plc ( (GB:SBAR) ) just unveiled an announcement.
Sundae Bar Plc reported audited results for the year to 30 September 2025, following its June 2025 AIM admission and £2m fundraise that bolstered its balance sheet and growth plans. The AI enterprise platform owner ended the period with about £1.65m in total assets, including £659,000 in cash, and an operating loss of around £1.2m.
The board booked a non-cash goodwill impairment of roughly £25m linked to the Ora Technology acquisition, reducing goodwill to zero as a conservative balance-sheet reset while stressing that cash, operations and IP remain unaffected. Management is now focused on enhancing platform functionality, expanding developer participation in Subnet 121, winning enterprise workflow-automation partnerships and building recurring revenue, as it targets becoming revenue-generating within 12 months of admission despite a going-concern material-uncertainty flag from auditors.
The company views its integrated marketplace, generalist agent development framework and AIM listing as positioning it to participate in the next wave of enterprise AI adoption. By aligning developer incentives with commercial deployment and maintaining disciplined capital allocation, Sundae Bar aims to translate its early-stage infrastructure into measurable commercial traction and long-term value creation for stakeholders.
More about Kondor Ai Plc
Sundae Bar Plc, listed on AIM as SBAR, operates an enterprise platform that deploys AI agents into business workflows at scale. The company is building a commercial marketplace for specialised and generalist AI agents, underpinned by proprietary technology acquired through Ora Technology and ownership of Subnet 121 on the Bittensor network.
Its platform enables businesses to discover, deploy and manage AI agents through a unified environment, aiming to drive enterprise workflow automation and recurring revenues. Developers globally compete within Subnet 121 to enhance a generalist AI agent, with validated improvements integrated into a single production model for commercial use.
Average Trading Volume: 114,964
Technical Sentiment Signal: Strong Sell
Current Market Cap: £21.71M
Learn more about SBAR stock on TipRanks’ Stock Analysis page.