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Supply@ME ( (GB:SYME) ) has shared an announcement.
Supply@ME Capital PLC has released its 2024 Annual Report and Accounts, highlighting a challenging financial year with a group revenue of £129,000, a decrease from the previous year, and an operating loss of £2.3 million. The company faced significant funding challenges, particularly due to underperformance by The AvantGarde Group in fulfilling a shareholder loan agreement. Despite these challenges, Supply@ME completed a new equity subscription and secured a funding agreement with Nuburu Inc., receiving USD $2.95 million. The company’s inventory monetisation pipeline showed potential growth, with a client company pipeline of £87.3 million supported by signed letters of interest or term sheets. However, the continued low revenue levels have resulted in another year of losses, raising concerns about the company’s going concern assumption.
More about Supply@ME
Supply@ME Capital PLC is a fintech company that offers an innovative platform for manufacturing and trading companies to access Inventory Monetisation solutions, enabling them to generate cash flow. The company focuses on inventory monetisation as its primary service, catering to businesses seeking to optimize their inventory management and financial operations.
Average Trading Volume: 117,353,100
Technical Sentiment Signal: Sell
Current Market Cap: £2.01M
See more insights into SYME stock on TipRanks’ Stock Analysis page.