SMX reported a net loss of $10.9M for H1 2024, compared to $33M loss in H1 2023. Operating loss decreased 71% to $9.3M, primarily due to reduced Business Combination costs. Research and development expenses increased 44% to $1.7M, while general and administrative expenses decreased 64% to $4.8M.The company has raised approximately $6.3M in additional funding since June 2024, including a $5.4M private placement in September and promissory note financings. As of June 30, 2024, SMX had no cash balance and accumulated losses of $61.6M, raising substantial doubt about its ability to continue as a going concern.Management is actively pursuing additional financing through debt restructuring and equity raises, including a $30M equity line of credit. The company continues to focus on commercializing its authentication and track-and-trace technology for supply chain integrity, while working to convert existing indebtedness into equity to conserve cash.

SMX reported a net loss of $10.9M for H1 2024, compared to $33M loss in H1 2023. Operating loss decreased 71% to $9.3M, primarily due to reduced Business Combination costs. Research and development expenses increased 44% to $1.7M, while general and administrative expenses decreased 64% to $4.8M.The company has raised approximately $6.3M in additional funding since June 2024, including a $5.4M private placement in September and promissory note financings. As of June 30, 2024, SMX had no cash balance and accumulated losses of $61.6M, raising substantial doubt about its ability to continue as a going concern.Management is actively pursuing additional financing through debt restructuring and equity raises, including a $30M equity line of credit. The company continues to focus on commercializing its authentication and track-and-trace technology for supply chain integrity, while working to convert existing indebtedness into equity to conserve cash.