RTO (RTO) H2 2024 earnings summary

Executive summary

• No business activities were undertaken during the year; focus was on seeking a reverse takeover (RTO) opportunity.

• Name changed to RTO Limited and ticker code updated from BGI to RTO.

• Major shareholder forgave $200,000 of secured bonds post year-end to support ongoing costs and RTO search.

• Board continues to seek suitable acquisition targets, with no transactions completed to date.

Financial highlights

• Revenue of $18,929 for the year ended 31 March 2024, up from $9,212 in the prior year.

• Net loss after tax of $245,732, compared to a net loss of $264,717 in the previous year.

• Total expenses decreased to $264,662 from $273,928 year-over-year.

• Cash and cash equivalents at year-end were $634,842, down from $863,900.

• No dividends declared or paid for the year.

Outlook and guidance

• Board remains focused on identifying and executing an RTO transaction within the current calendar year.

• Ongoing discussions with potential acquisition targets, but no agreements reached.

• Additional capital may be raised in conjunction with a future RTO.