The latest update is out from Falanx Group Ltd ( (GB:CHL) ).
Cloudified Holdings Limited announced its final results for the year ended 31 March 2024, highlighting its transition to a cash shell after selling its cyber security division. The company reported a loss of £1.41 million and is now focused on completing a reverse takeover to acquire media and events assets, aiming to resume share trading. A recent fundraising of £500,000 will support this acquisition, expected to complete in Q2 2025, potentially providing significant returns to shareholders.
More about Falanx Group Ltd
Cloudified Holdings Limited, previously operating in the cyber security sector through its former subsidiary Falanx Cyber Defence Limited, transitioned to a cash shell after selling its cyber security assets to Wavenet Limited. The company is now focusing on identifying acquisition opportunities, particularly aiming for a reverse takeover in the media and entertainment sector.
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £118.4K
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