Profit is up because of the impairment in the prior period (crypto?).
Otherwise, General and Admin Expenses are looking quite expensive: $6.9m -> 7.7m while revenue is down. At least marketing cost is down.
Cashflow statement:
- There was a decent sized buy-back (0.5% of shares on issue, $179k).
- Cash from operations, +$1.3m
- Payments for intangibles, -$1.3m. Seems to be software dev, after writing off crypto and some of the app.
- It says 'in progress', so I guess that's $1.3m invested, for a feature not yet released, like a new app, or new revenue-generating feature.
- Overall, cash negative for the HY.
- The profit probably ended up in that 'intangible asset development'. So an increase in value of underlying tech, if it doesn't get written down again.
- I'm not sure how they're going to fund 20 additional staff. That would eat up the profit.
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