The Company incurred a net loss of £27,618 during the year ended 31 December 2024. The Company has obtained the financial support letter from the parent company (BC Platforms AG Zurich) for 12 months from the date of the financial statements authorisation. This letter confirms that the parent company will provide where needed the necessary support so that the Company can meet its commitments and continue its business under normal conditions. However, we draw attention to the following note on going concern in the report of the statutory auditor on the limited statutory examination of BC Platforms AG Zurich financial statements for the year ended 31 December 2024:
The Management continues to have a reasonable expectation that the company has adequate resources to continue as a going concern for at least the next 12 months.
The appropriateness of the company's ability to continue as going concern, is dependent on the availability of sufficient liquidity to finance the company’s on-going operations. As the group, in its current stage, does not generate sufficient operating cash inflows, a material uncertainty exists that may cast doubt about the company’s ability to continue as a going concern.
The shareholders have provided the company with liquidity for working capital requirements. On the extraordinary shareholders' meeting on the 28 May 2024, shareholders decided to grant a convertible loan of CHF 4'700'000 to strengthen the Company's cash position. Shareholders also executed a financing round of CHF 10.9M in Q4 2024 to cover its cash needs over the next 12 months and has executed reduction in force and other cost saving measurements to cut operations expenses by CHF 1.6M in FY2025 in the group and the company. The company and the group have further implemented a reduction in headcount during Q1 in 2025 in both the company and the group.
Based on these factors, management has a reasonable expectation that the group and the company itself have adequate liquidity and resources to continue as a going concern.