Summary by Futu AI
reAlpha Tech Corp. has released its financial statements for the transition period ending December 31, 2023, and the fiscal years ending April 30, 2023, and 2022. The company reported a net loss of $1,251,259 for the eight months ended December 31, 2023, compared to a net loss of $5,452,383 for the year ended April 30, 2023. The decrease in net loss is primarily due to the gain from the sale of myAlphie LLC. Revenue for the eight-month period was $121,690, down from $419,412 for the fiscal year 2023. The company has shifted its focus from its asset-heavy operational model to enhancing AI technologies for commercial use. reAlpha Tech Corp. completed the acquisition of Roost Enterprises, Inc. to expand its market share and capitalize on product synergies. The company also entered into a non-binding letter of intent to acquire United Software Group, a multi-industry IT consulting company. The financial statements also disclosed executive compensation, director independence, and subsequent events, including a settlement agreement with Valentina Isakina and the sale of a property.