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- Security Matters (SMX) spent the most recent half progressing activities
- Over the period, the company recorded cash outflows from operating activities of US$2.85 million (A$4.24 million)
- During the six months to June, the company merged with special purpose acquisition company (SPAC) Lionheart III to list on the NASDAQ
- The company finished the June half with decreased cash and cash equivalents of US$858,259
- Shares in the company last traded at 16 cents each on August 29
Security Matters (SMX) has progressed activities during the June half.
Over the period, the company recorded cash outflows from operating activities of US$2.85 million (A$4.24 million).
Its largest expense was for general and administration costs, in which it spent US$1.2 million.
During the six months to June 30, the company merged with special purpose acquisition company (SPAC) Lionheart III to list on the NASDAQ.
Additionally, it expanded its presence in the North American market by joining an initiative to transform recycling practices in the region.
Furthermore, SMX completed an industrial-scale readiness trial in a facility marking recycled plastics to help customers to comply with plastic packaging legislation.
It invested just over US$966,000 during the period, which was mostly directed towards the purchase of intangible assets and capitalised development costs.
The company finished the June half with decreased cash and cash equivalents of US$858,259.
Its loss for the period lifted to US$2.44 million, compared to a loss of US$2.38 million in the previous corresponding period.
Shares in the company last traded at 16 cents each on August 29.
