Core Viewpoint - Intercont (Cayman) Limited reported an increase in total revenues and gross profit for the first half of fiscal 2025, despite a decrease in net income compared to the same period in 2023 [3][4][10]. Financial Performance - Total revenues increased by 8% to approximately $13.4 million for the six months ended December 31, 2024, compared to approximately $12.4 million in the same period of 2023 [3][8]. - Gross profit rose by 14% to approximately $3.8 million for the six months ended December 31, 2024, up from approximately $3.4 million in the same period of 2023 [4][8]. - Net income decreased by 43% to approximately $0.9 million for the six months ended December 31, 2024, down from approximately $1.6 million in the same period of 2023 [10]. Cost and Expenses - Cost of revenues increased by 6% to approximately $9.6 million for the six months ended December 31, 2024, from approximately $9.0 million in the same period of 2023 [4]. - Total operating expenses surged by 101% to approximately $1.7 million for the six months ended December 31, 2024, compared to approximately $0.8 million in the same period of 2023 [5]. - General and administrative expenses increased by approximately $0.7 million, driven by higher professional consulting and legal fees, as well as other operational costs [9]. Other Financial Metrics - Income from operations decreased by 16% to approximately $2.1 million for the six months ended December 31, 2024, down from approximately $2.5 million in the same period of 2023 [6]. - Other expense, net was approximately $1.2 million for the six months ended December 31, 2024, representing an increase of approximately 32% compared to approximately $0.9 million in the same period of 2023 [7][10]. - As of December 31, 2024, the Company had approximately $4.9 million in cash and cash equivalents, an increase from approximately $3.8 million as of June 30, 2024 [8][11]. Recent Developments - The Company completed its IPO on March 28, 2025, raising total gross proceeds of $10.5 million, with net proceeds amounting to $9.5 million [12]. - On April 7, 2025, Kingswood Capital Partners exercised its over-allotment option, resulting in additional net proceeds of $1.1 million [13]. - In April 2025, the Company temporarily deposited approximately $10.2 million with a financial institution to enhance working capital management [14].