TechFinancials registers $0.074m loss in H1 2023
TechFinancials Inc today announced its unaudited interim results for the six-month period ended 30 June 2023 (“H1 2023”).
The operating loss for the period was US$0.074m (H1 2022: loss of US$ 0.16m); the operating expenses for the period were attributed mainly to general and administrative costs associated with being a publicly quoted company.
Financial gain for the period were US$ 0.021m, attributed predominantly to US$0.024m gain from exchange rate differences.
No taxes on income were recorded in the period (H1 2022: US$ 0.00m).
The loss after taxation for the period attributable to shareholders of the Company was US$ 0.073m (H1 2022: loss of US$ 0.16m).
The Company’s cash position for the period ended 30 June 2023 was US$0.449m (31 December 2022: US$0.548m).
Asaf Lahav, Chief Executive Board Member of TechFinancials, commented:
“In the first half of the year the Company continued to focus on administrative cost reductions and will continue to look for investment opportunities to maximize the Company’s value, leveraging its available cash.”