Post Quarter Highlights
For the quarter, the Company reported cash receipts of $1,538,000, following the disposal of its VMware Cloud Platform to Zettagrid Pty Ltd on 1 May 2024. Underlying total revenue for the quarter was $1,138,000, when excluding April 2024 revenue from the VMware Cloud business sold.
During the quarter, the Company focused its attention on new strategic partnerships, expanding its technological capability, and reviewing non-core assets for potential disposal to streamline the business moving forward and provide the Company with the balance sheet strength required to execute on its business development activities.
The Company remains focused on prioritising high growth, high margin sectors to further advance it’s AI enablement and cybersecurity capabilities, including it’s collaboration with leading semiconductor IP business, 2D Generation Ltd, which aims to generate transformational opportunities in the AI space, leveraging Adisyn’s expertise in data centre management, managed IT services, and cybersecurity, alongside 2D Generation’s industry-leading capabilities in developing next-generation AI semiconductor solutions (ASX: 15 July 2024).
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