HUB Cyber Security reported H1 2024 revenue of $15.7M, down 37% from $25.0M in H1 2023, primarily due to terminated multi-year contracts in Professional Services segment. Gross profit improved to $1.5M from -$2.0M last year, while operating loss decreased to $15.0M from $59.6M.The company faces significant liquidity challenges with cash balance of $1.2M as of June 30, 2024. Multiple debt obligations are currently in default, including loans from Mizrahi Bank, Lind Global, and other creditors. HUB is pursuing various financing options and debt restructuring, having recently secured new convertible notes and warrants worth $10M in March-June 2024.HUB received Nasdaq delisting notices for failing to meet minimum bid price and financial requirements. A hearing is scheduled for February 2025 to appeal the delisting decision. The company is also dealing with several legal proceedings, including class action lawsuits and creditor claims, while undergoing investigation by Israeli authorities regarding potential securities violations.

HUB Cyber Security reported H1 2024 revenue of $15.7M, down 37% from $25.0M in H1 2023, primarily due to terminated multi-year contracts in Professional Services segment. Gross profit improved to $1.5M from -$2.0M last year, while operating loss decreased to $15.0M from $59.6M.The company faces significant liquidity challenges with cash balance of $1.2M as of June 30, 2024. Multiple debt obligations are currently in default, including loans from Mizrahi Bank, Lind Global, and other creditors. HUB is pursuing various financing options and debt restructuring, having recently secured new convertible notes and warrants worth $10M in March-June 2024.HUB received Nasdaq delisting notices for failing to meet minimum bid price and financial requirements. A hearing is scheduled for February 2025 to appeal the delisting decision. The company is also dealing with several legal proceedings, including class action lawsuits and creditor claims, while undergoing investigation by Israeli authorities regarding potential securities violations.