• Continued repayments for annual D&O insurance
• Announced SaaS agreement with Drivemate and strategic alliance with Xoomplay
• Raised $200,000 through Convertible Notes subsequent to quarter end

Jayride Group Ltd released its Q3 Appendix 4C, reporting net cash used in operating activities of $322,000 for the current quarter and $225,000 in net cash used in investing activities. The company continued repayments for its annual D&O insurance, fully incurred each February. During the quarter, Jayride announced a SaaS agreement with Drivemate and a strategic alliance with Xoomplay, as the company continues its strategic pivot from a global airport transfer aggregator into a comprehensive SaaS mobility platform. Subsequent to quarter end, the company raised $200,000 through the issue of Convertible Notes, and the board continues to assess other capital management initiatives, expecting to announce details of a further capital raise imminently. The company expects to be able to continue its operations and meet its business objectives, with the strategic pivot and cost optimisation resulting in materially lower operating costs moving forward.

The company expects to be able to continue its operations and meet its business objectives, with the strategic pivot and cost optimisation resulting in materially lower operating costs moving forward.