Aquis-listed investment company MaxRets Ventures PLC (AQSE:MAX) said the market outlook for technology-driven investments “remains positive” in an interim trading update published on Tuesday.
MaxRets' investments include Clearly Supplements Ltd and Voyager Life PLC (AQSE:VOY).
The company initially invested £100,000 in Clearly Supplements Ltd, a CBD product provider, via a convertible loan note. However, due to challenging trading conditions, the company decided to write down the investment to nil as of October 2023.
"Given the lack of progress made by Clearly the MaxRets Board decided to write down the investment to nil in the year to 31 October 2023," stated Non-Executive Chairman Dominic White.
Voyager Life plc, another key investment, has shifted its focus to helium production after facing difficulties in completing a planned fundraising round.
Voyager secured an option to acquire M3 Helium and raised £400,000 in additional funding.
"Since that point Voyager has changed direction, securing an option to acquire M3 Helium and at the same time having raised £400,000 in additional funding," added White.
MaxRets reported an operating loss of £184,000 and a total comprehensive loss of £177,000.