Connected IO Limited's Interim Financial Report for the half-year ended 31 December 2023

Connected IO Limited (ASX: $CIO) has released its consolidated Interim Financial Report for the half-year ended 31 December 2023. The Group reported a loss after tax of $203,850 for the half-year, a decrease from the 2022 loss of $224,530. The company's principal activities during this period included the evaluation of potential acquisition opportunities, with several progressing through negotiations to formal due diligence. Additionally, the Group received royalty payments of $11,723 from Focus Minerals Ltd (ASX: $FML) related to a historical royalty granted in 1995 over a mining tenement near Coolgardie, Western Australia. The Group remains focused on actively pursuing acquisition opportunities and is open to benefiting from future cash payments or considering the potential sale of the royalty.

Executive Commentary on Interim Financial Report

The Group's focus on evaluating potential acquisition opportunities has been a key priority during the half-year ended 31 December 2023. We are pleased with the progress made in negotiations to formal due diligence and the receipt of royalty payments, which have contributed to the Group's financial position. We remain committed to actively pursuing potential acquisitions and are open to exploring various options to maximize the benefits for the Group. The Group's management and Board have remained unchanged during this period, providing stability and continuity in our strategic pursuits.

Summary of Connected IO Limited's Interim Financial Report

Connected IO Limited's Interim Financial Report for the half-year ended 31 December 2023 reflects the Group's continued focus on evaluating potential acquisition opportunities and receiving royalty payments. The Group reported a decreased loss after tax compared to the previous year and remains committed to actively pursuing potential acquisitions. The Group's stability in management and Board, along with its openness to exploring various options, indicates a strategic approach to maximize benefits. Looking ahead, the Group aims to continue its evaluation of potential acquisition opportunities and leverage any future cash payments or potential royalty sales to enhance its financial position and strategic growth.