Aquis-listed investment company MaxRets Ventures PLC (AQSE:MAX), formerly Greencare Capital, has released its first unaudited trading update since recalibrating its investment strategy under a new trading name.
Formerly focused on the cannabis sector, MaxRets has since pivoted to the life sciences, fintech, impact and retail sectors.
Operating losses in six months ended 30 April 2023 halved year on year to £133,000, while losses before tax also fell around 50% to £122,000.
Basic losses per share equalled 0.001p.
Cash and cash equivalents fell to £204,000 from £679,000 at the same time last year. This contributed to a 40% fall in total assets to £545,000.
In the trading update, MaxRets noted that the technology-led investment sector has been revalued down in the last 12 months, “given significant changes in overall market conditions and a reduction in availability of capital”.
This, however, brings “exciting investment opportunities in those market sectors which the company is focused upon”.
“The board is constantly assessing potential transactions and looks forward to updating the market further in the near future,” read the trading update.