HIGHLIGHTS
• Cash received from customers increases to $456k, which represents a 986% improvement on last year.
• $6.692 million received in cash flows from financing activities, $456k received from customers and $797k received by way of government grants and taxes. In total, $7.945 million received during the current quarter.
• Cash expenditure increased from $1,332k last year to $2,071k in the current quarter. However, after adjusting for once-off items, cash expenditure reduces to $1,372k, which represents a 3% increase in spend on last year on a like-for-like basis.
• Net cash used for the quarter, after adjusting for once-off items, net cash used in operating activities reduces to $148k, which represents a 76% improvement on last year on a like-for-like basis.
• The Biomorphik application successfully launched on 5 January 2021, with a number of other product launches expected from our partners in 2021.
• The Company agreed terms with Triage Technologies Inc. to implement their AI “health assistant” technology within MyFiziq’s CompleteScan SaaS offering, with the Company now developing a revolutionary multi-scan solution.
• MyFiziq’s multi-scan solution comprises BodyScan, FaceScan and DermaScan to be implemented shortly, all accessible and contained on a single platform.
DISC: I hold