TechFinancials registers $0.16M loss in H1 2022
TechFinancials Inc. (AQSE:TECH) today announced its unaudited interim results for the six-month period ended 30 June 2022 (“H1 2022”).
In 2020, the company closed all of its operating historical businesses and since then the company has not recorded any income.
The operating loss for the period was US$0.074m (H1 2021: loss of US$ 0.13m); the operating expenses for the period were attributed mainly to general and administrative costs associated with being a listed company.
Financial expenses for the period were US$ 0.089m, attributed predominantly to US$0.06m loss from exchange rate differences.
No taxes on income were recorded in the period (H1 2021: US$ 0.01m).
The loss after taxation for the period attributable to shareholders of the Company was US$ 0.16m (H1 2021: loss of US$ 0.10m).
The company’s cash position for the period ended 30 June 2022 was US$0.68m (31 December 2021: US$1.3m).
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.”