IMT(US:IMTE)2022-12-16 21:30Revenue and Income - Revenue for the six months ended June 30, 2022, was A$0, compared to A$3.294 million for the same period in 2021, representing a 100% decrease[3] - Total revenue for the six months ended June 30, 2022, was A$2,722,678, compared to A$38,142 for the same period in 2021, indicating a significant increase[56] - Interest income increased significantly to A$398,797 from A$9,848, marking a growth of approximately 3,931%[3] - Other revenue for the six months ended June 30, 2022, included A$401,675, primarily from consultancy services and NFT sales[56] - The Group's total sales revenue from external customers was A$0 for the six months ended June 30, 2022, compared to A$3,294 in 2021[58] Loss and Financial Performance - Total comprehensive loss for the period was A$462,223, a significant improvement from A$6.713 million in the same period last year, reflecting a reduction of approximately 93%[3] - The company reported a loss for the period of A$2.109 million, a reduction from A$7.131 million in the previous year, representing a decrease of approximately 70%[3] - The Group reported a net loss of A$2,108,764 for the six months ended June 30, 2022, an improvement from a loss of A$7,130,857 in the same period of 2021[13] - The loss before income tax for the period ended June 30, 2022, was A$2,108,764, a reduction of 70.5% from A$7,130,857 in 2021[63] - The basic and diluted loss per share for the period ended June 30, 2022, was A$0.10, compared to A$0.88 for the same period in 2021, reflecting a significant improvement[65] Assets and Liabilities - Total assets increased to A$48.274 million as of June 30, 2022, compared to A$25.090 million at the end of 2021, indicating a growth of approximately 92%[5] - Net current assets improved to A$9.584 million from net current liabilities of A$6.449 million at the end of 2021[5] - The Group's accumulated losses reached A$38,516,759 as of June 30, 2022, raising concerns about its ability to continue as a going concern[14] - Trade and other liabilities totaled A$1,147,197 as of June 30, 2022, a significant decrease from A$2,424,717 as of December 31, 2021[80] - The Group's amounts due to related companies dropped to zero as of June 30, 2022, from A$247,406 as of December 31, 2021[81] Cash Flow and Financing - Cash outflows from operating activities totaled A$9,975,254, compared to A$3,542,057 in the prior year, indicating increased cash usage[14] - The Group's investing activities resulted in a net cash outflow of A$16,485,200, primarily due to a deposit paid for lamination production equipment amounting to A$16,467,808[19] - The Group's financing activities provided a net cash inflow of A$26,519,737, reflecting the proceeds from shares issued[19] - The Group plans to continue raising financing through equity and/or debt securities to support ongoing operations and product development[26] - The Group's management believes that current cash may not be sufficient to meet anticipated cash needs for working capital over the next twelve months[19] Share Capital and Equity - The company issued 15,785,072 ordinary shares as of June 30, 2022, up from 9,329,420 shares at the end of 2021[5] - The total issued capital increased to A$79,979,235 with 15,785,072 shares as of June 30, 2022, compared to A$48,144,406 with 9,329,420 shares as of December 31, 2021[94] - The Group recognized a gain on deemed disposal of A$48,374 related to the reduction of its shareholding in Greifenberg from 40.75% to 23.96%[99] Inventory and Receivables - The total inventories as of June 30, 2022, were valued at A$6,673,350, with no provision for obsolescence[66] - Trade receivables as of June 30, 2022, were A$480,576, showing a slight increase from A$480,095 as of December 31, 2021[67] - The company reported an increase in inventories, with a cash outflow of A$6,512,192 for the period ended June 30, 2022, compared to a slight inflow of A$1,517 in the previous year[105] Management and Operations - The Group has seven operating segments for the period ended June 30, 2022, compared to six in 2021, reflecting expansion in business operations[52] - The total remuneration paid to directors and senior management decreased to A$683,932 for the period ended June 30, 2022, down from A$926,348 in the previous year, representing a reduction of approximately 26.3%[103] - The company has not reported any significant events affecting operations since June 30, 2022, apart from the aforementioned transactions[107] Related Party Transactions - The company’s related party transactions included a decrease in fees paid to a related party for company secretarial and CFO services, from A$274,155 in the previous year to zero in the current period[104]