Catenai PLC (AIM:CTEA) shares fell 15% in early trading after the digital media and technology company reported a widened loss and sharp drop in revenue for the first six months of 2025, though its shares recovered later.
The AIM-quoted outfit posted a loss of £221,308 compared to £12,778 in the same period last year, as revenue fell to £7,600 from £124,500.
The net asset position increased to £1 million, up from £566,764, though cash stood at £94,092 at the end of the period, compared to £4,759 a year earlier.
A £1.6 million fundraising was completed in July 2025.
An initial £500,000 investment was made into Alludium Ltd, an AI-focused business, with a further £450,000 completed in July. Alludium is targeting a public release of its platform in October 2025.
Catenai also announced a Bitcoin-focused treasury policy in June. A second institutional custodian is being onboarded, with market and regulatory conditions under review. The company continues to service its customer in the sports sector.
John Farthing, interim CEO, commented: "We look forward to the launch of Alludium's platform which is timely given the strong endorsement of AI by the UK Government."
The shares fell 0.05p to 0.28p in early trades, but by late morning were down just over 1% at 0.33p.