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LONDON - Sundae Bar Plc (AIM:SBAR) reported a pre-tax loss of £824,808 for the six-month period ended March 31, 2025, as the company continues developing its artificial intelligence marketplace platform.
The company, which recently rebranded from Kondor AI, generated no revenue during the period. Operating expenses totaled £824,810, with £575,756 attributed to administrative costs and £249,054 to other operating expenses.
Cash reserves declined to £83,380 at the end of March from £610,642 at the end of September 2024, according to the interim results statement.
After the reporting period, Sundae Bar completed its acquisition of Ora Technology Plc on May 1, securing 99.77% of Ora’s issued share capital. The company subsequently raised £2 million and began trading on London’s AIM market on June 3.
"This reporting period marks a pivotal point in the Company’s evolution," said Jonathan Bixby, Chairman of Sundae Bar, in the statement. The company formally changed its name on May 7 to reflect its new focus on creating a marketplace for AI agents.
The acquisition of Ora is expected to accelerate Sundae Bar’s development roadmap by bringing technical expertise and complementary AI platform capabilities.
On June 26, the company announced the adoption of a Bitcoin Treasury Management Policy, describing it as a financial strategy decision that doesn’t alter its core business operations.
The financial results align with expectations for an early-stage technology venture, according to the company’s press release statement. Sundae Bar’s platform aims to provide tools for creating, customizing, and monetizing AI agents for both individual developers and enterprise users.
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