Catenae Innovation PLC (AIM:CTEA) cut losses in the fifteen months to end December 2022 and is confident it will meet its cashflow targets in the current year.
Auditors have prepared its accounts on a going concern basis, nonetheless, and Catenae said it will need additional funding on a year’s view.
The tech company added it is continuing to seek acquisitions and since the end of the year had held multiple discussions.
Losses in the period ending December 2022 were £523,000 (2021: £1.25mln) with revenues at £152,000 (2021: £30,210).