Key points
- Revenues increased 270.13% to $313,040
- Loss after tax decreased 0.33% to $1,206,091
- Continued investment in SE Formula biotechnology and commercialization
Full summary
Skin Elements Limited, an ASX-listed company, has reported its interim financial results for the half-year ended 31 December 2024. The company's revenues from ordinary activities increased by 270.13% to $313,040, while the loss from ordinary activities after tax attributable to members decreased by 0.33% to $1,206,091. The financial statements have been prepared on a going concern basis, with the directors confident that the company will have sufficient funds to meet its obligations and liabilities. This is due to the company's eligibility for R&D tax incentive grants, the issuance of shares to directors and key management, and the successful track record of raising working capital through equity securities. During the period, the company continued to focus on the research and development of its proprietary SE Formula biotechnology, which is the core of its product range, including Soléo Organics, SuprCuvr, ECO-Nurture, and PapayaActivs Therapeutics. The company has made progress in Phase 3 commercialization for ECO-Nurture and SuprCuvr, while negotiations continue for the distribution of Soléo Organics in the UK market. The company also undertook small-scale Phase 3 test marketing of the PapayaActivs Therapeutics range through its online store.