Advanced Oxygen Technologies, Inc. reported its financial results for the six-month period ending December 31, 2024, showing a revenue increase to $24.1 million, up from $21.1 million in the same period last year. The company attributed this growth primarily to higher lease revenues from its subsidiary, Anton Nielsen Vojens, ApS, which leases commercial real estate in Denmark. The net income for the period was $677,000, compared to $328,000 in the prior year, reflecting improved operational performance.
In terms of operational metrics, the company’s total assets decreased to $629,013 as of December 31, 2024, down from $675,214 at the end of June 2024. This decline was largely due to a reduction in cash and property values, with cash reserves falling to $64,563 from $94,482. Current liabilities increased significantly to $307,093, compared to $206,248 in the previous period, primarily driven by an increase in accounts payable and the current portion of notes payable.
Advanced Oxygen Technologies has maintained a consistent employee headcount, with 3,292,945 shares of common stock outstanding as of January 17, 2025. The company continues to focus on its core operations, with no significant changes in customer counts or product adoption rates reported. The subsidiary Sharx DK ApS, which is involved in the distribution of cargo security products, reported no retail customers during the period, indicating a need for strategic reevaluation in that segment.
The company is actively seeking to raise capital to support its operations and growth, including potential acquisitions that could enhance its earnings potential. However, management has indicated challenges in financing these growth initiatives. The outlook remains cautious, with expectations of continued efforts to stabilize operations and explore strategic partnerships or acquisitions to bolster market presence.
Overall, Advanced Oxygen Technologies is navigating a complex financial landscape, with a focus on improving operational efficiency and exploring growth opportunities while managing increased liabilities and fluctuating asset values.
About ADVANCED OXYGEN TECHNOLOGIES INC
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