IN BRIEF: Astrid Intelligence loss widens in 'eventful' first half

Astrid Intelligence PLC - London-based company specialising in artificial intelligence, formerly known as Cel AI PLC - Reports results for the six months ended February 28. Remains non-revenue generating. Pretax loss widens to £4.3 million, widened from a £129,750 loss the year before. Astrid incurs a £3.6 million one-off fair value loss on intangible assets, and administrative expenses increase on-year to £1.2 million from £149,638. Basic & diluted loss per share widens to 0.072 pence from 0.022p. Astrid has cash & equivalents of £338,431 at the year end, up from £19,171 one year prior. ‘It has been an eventful period,’ Executive Chair Mark Creaser comments. Creaser took over as chair in March, succeeding Olivia Edwards, with Siam Kidd succeeding him as chief executive officer. He says the digital asset book has been ‘volatile’, although the company ‘is now generating emissions income from its core activities’. Adds that asset prices ‘have recovered materially’ since the period end, with its tao holdings having recovered to approximately £4.3 million as of Friday. Says Astrid’s positioning in the Bittensensor ecosystem, which ‘seeks to incentivise the development and exchange of AI-related computational activity through token-based economics,’ represents ‘an attractive area of long-term opportunity, although the sector remains at an early stage of development and carries both volatility and risk.’

Current stock price: 0.095 pence

12-month change: started trading on Aquis Stock Exchange on September 1

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