Total Revenue

Fell by about 51%: from $456K in Q4 2024 to $224K in Q1 2025

The decrease in revenue is linked to a reduction in recurring management fee income and potential downturn in product sales, reflecting market and contract shifts compared to the prior quarter’s stronger figures. " "

Total Operating Expenses

Surged over 500%: from $42,038K in Q4 2024 to $261,422K in Q1 2025

Expenses skyrocketed largely because of extraordinary items. A major contributor was the goodwill impairment charge of $233,213, which, combined with higher administrative, R&D, and marketing costs observed in previous periods, markedly increased the cost base. " "

Net Loss

Widened dramatically: from $71,810K in Q4 2024 to $253,674K in Q1 2025

The dramatic expansion of net loss resulted from the combined effects of the significant uptick in operating expenses—including non-cash charges like the goodwill impairment—and additional non-operating losses, which outpaced the comparatively higher revenue seen in Q4 2024. " "

Goodwill

Dropped by roughly 35%: from $667,936K in Q4 2024 to $436,807K in Q1 2025

The reduction in goodwill is primarily due to a non-cash impairment charge of $233,213, reflecting a downward adjustment following a previously higher valuation that was sensitive to market volatility and share price declines. " "

End-of-period Cash

Declined significantly: from $11,119K in Q4 2024 to $1,375K in Q1 2025

The sharp decline in cash stems from reduced financing inflows combined with greater cash outflows in both operating and investing activities compared to the previous quarter’s robust cash position, raising concerns about near-term liquidity. " "