Bill Gross warns on gold momentum as regional bank stocks tumble
LONDON - CRUSHMETRIC Group Limited (AQSE:CUSH), a consumer design company specializing in shape-changing technology products, reported a 42% decrease in revenue to HK$3.98 million for the period ended March 31, 2025, according to a press release statement issued Tuesday.
The company, which produces designer goods featuring technology based on dented aluminum can sculptures, reduced its annual loss to HK$9.35 million from HK$67.86 million in the previous year. Basic loss per share improved to HK$0.04 from HK$0.28.
CRUSHMETRIC’s cash position strengthened to HK$3.70 million as of March 31, 2025, compared to HK$521,605 at the end of 2023. The company attributed this improvement to approximately HK$5.26 million raised through private placings between April 2024 and March 2025.
The significant revenue decline occurred primarily in the second half of the reporting period, which the company attributed to "a substantial contraction in marketing activities due to limited available funds."
Despite maintaining a 70% gross profit margin, the company faces ongoing financial challenges. The audit opinion included a material uncertainty statement regarding the company’s ability to continue as a going concern, noting its reliance on meeting trading projections and continued shareholder support.
Chairman Ivor Colin Shrago outlined a four-part strategy to address these challenges, including securing additional working capital, refreshing product lines, expanding into flagship retail locations across global cities, and implementing a Digital Asset Treasury Strategy that would involve Ethereum as a treasury asset and payment method, pending shareholder approval.
The company also reported personnel changes, with Non-Executive Director OW Dennis Kian-Jing resigning in May 2024, and the resolution of a legal dispute with a distributor through a settlement agreement.
The board did not recommend payment of a dividend.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.