Core Viewpoint - Prestige Wealth Inc. reported significant financial challenges in the first half of fiscal year 2025, with a drastic decline in net revenues and a substantial increase in operational losses, while also highlighting strategic acquisitions aimed at enhancing its technology-driven wealth management services [2][3][4]. Financial Performance - Net revenues for the six months ended March 31, 2025, were $287, a decrease of 99.94% from $497,629 in the same period of 2024 [3][4]. - The company reported a net loss of $3,635,088 for the first half of fiscal year 2025, compared to a net loss of $503,429 in the same period of 2024, marking an increase in losses of 622.07% [3][9]. - Loss from operations was $3,715,893, significantly higher than the loss of $608,000 reported in the previous year, reflecting an increase of 511.17% [3][7]. Operational Costs - Operating costs and expenses rose to $3,716,180 in the first half of fiscal year 2025, up 236.11% from $1,105,629 in the same period of 2024, primarily due to increased selling, general, and administrative expenses [3][6]. Revenue Breakdown - Revenue from wealth management services was $287, down from $11,685 in the previous year, primarily due to a decrease in referral cases [4][26]. - Asset management services generated no revenue in the first half of fiscal year 2025, a significant drop from $485,944 in the same period of 2024, as the company ceased its asset management operations in August 2024 [4][5]. Cash Flow and Financing - Net cash used in operating activities was $82,884, a decrease from $2,995,580 in the same period of 2024, mainly due to reduced prepayments [12]. - The company raised approximately $7,500,000 through a private placement in August 2025, indicating improved financing capabilities post-IPO [17]. Strategic Developments - The company completed acquisitions of Wealth AI, InnoSphere Tech, and Tokyo Bay, aiming to enhance its technology-driven wealth management services [2]. - The strategic focus is on leveraging technology to innovate within the wealth management sector, which is expected to drive future growth [2][5].