Mighty Kingdom's strategic financial move

Mighty Kingdom (ASX:MKL) has announced the establishment of a new debt facility. The company secured up to $1.2 million to support its working capital needs. This move comes alongside Mighty Kingdom's ongoing efforts to enhance profitability and minimize cash burn. Despite a proposed acquisition and capital raising not proceeding, the company is actively seeking new corporate opportunities.

Overview of Mighty Kingdom's financial strategy

Mighty Kingdom has secured a debt facility of up to $1.2 million, backed by R&D and DGTO rebates. This facility, maturing in April 2025, supports the company's working capital requirements with a 20% interest rate. The company is focused on driving profitability while minimizing cash burn and is exploring new opportunities to add shareholder value. Future updates on these initiatives and board changes are anticipated.

Executive insights on the debt facility

The establishment of this debt facility is a strategic step to ensure we have the necessary resources to support our business operations and explore new opportunities that could enhance shareholder value.