Latest Going Concern News

SOCO Corporation reports a 12% revenue drop to $9.7 million for H1 FY26, weighed down by a $4.6 million goodwill impairment linked to AxSym. Despite growth in core consulting, the company posted a significant net loss and undertook restructuring to align costs.

Fat Prophets Global Contrarian Fund Ltd reported a dramatic turnaround with a $9.3 million profit for the half-year ended December 2025, up from just $14,000 a year earlier, alongside a declared interim dividend.

Botanix Pharmaceuticals reports a surge in Sofdra sales driving revenue to $16.5 million, yet the company records a $33.2 million loss amid expanded marketing and operational costs. A $45 million capital raise aims to support growth and supply chain improvements.

I Synergy Group Limited reported a 15.63% drop in revenue to AUD 0.81 million for FY2025, alongside a 21.5% increase in net loss to AUD 0.34 million, with auditors flagging going concern uncertainties.

ASF Group Limited has reversed a significant loss to report a half-year profit of $539,708, driven by key disposals and a strengthened balance sheet.

Synertec Corporation Limited reported a 20% increase in revenue to $10.2 million for the half-year ended 31 December 2025, alongside a 40% improvement in net loss after tax. The company’s Powerhouse renewable energy system continues to gain traction, supported by strategic partnerships and expanded manufacturing.

CONNEQT Health reported a 40% revenue increase to $2.28 million for the half-year ending December 2025, driven by strong sales of its CONNEQT Pulse device and early subscription uptake. Despite narrowing its net loss by 14%, the company continues to navigate operational restructuring and funding challenges as it pivots towards a recurring revenue model.

Skin Elements Limited reported a $4.01 million loss for the half-year ending December 2025, alongside a 41% revenue drop, while securing $2.5 million in fresh capital to advance its proprietary SE Formula biotechnology products.

Burgundy Diamond Mines reported a net loss of $86.8 million for 2025, reflecting operational challenges including the suspension of Point Lake mining due to adverse tariffs. The company secured $83.4 million in Canadian tariff relief financing to bolster liquidity and restructured its debt amid ongoing market uncertainties.

PainChek Limited reported a half-year loss of AUD 4.7 million but achieved a major regulatory milestone with FDA clearance for its Adult App, unlocking significant US market opportunities. The company also completed a share consolidation and raised capital to support growth.

NoviqTech Limited reported a widening loss of $2.83 million for 2025, alongside a severe drop in cash reserves and a looming going concern uncertainty flagged in its upcoming audit.

RocketBoots Limited reported a steep 71.75% drop in profit after tax to a $2.36 million loss for the half-year ending December 2025, despite a modest revenue increase. The company’s future hinges on a transformative $9.1 million annual recurring revenue contract with a tier-one multinational retailer and a recent $7 million capital raise.