Ann: Codeifai achieves best-ever half year result, page-3

YPB/Codeifai can claim that they achieved their best-ever half year result, but the numbers speak for themselves when they report....

"The group incurred an operating loss after tax for the half-year of $2,005,358,had net cash outflows from operating activities of $910,947and a deficiency of current assets over current liabilities of $2,438,918. As at 30 June 2024, the Group has cash and cash equivalents of $108,502."

1) The operating loss of $2m is up by 147% compared to the loss for the same period in 2023.
2) Revenue was $528k only up 10% on 2023 despite so many announcements of sales successes.
2) Still burning through as much cash as they did in 2023 at over $900k for the 6 months.
3) Started the September quarter with only $109k in cash and cash equivalents. They had to borrow $45k at 25% interest rate before securing share placement with current shareholders and sophisticated investors of $500k at share price of 0.15c. With shares currently trading at 0.1c, those who participated in this share placement have copped a 33 1/3% loss even before the month is out. It doesn't augur well when the share price is at rock bottom 0.1c and they will have to do a further capital raise before the end of the year.

Other than change of name, nothing much else has changed!