IQO Inteliqo Limited

27 September 2024

Inteliqo Limited

(“Inteliqo”, the “Company”)

Audited Results

Inteliqo (AQSE: IQO), a start-up technology company that provides sales, marketing and distribution services to technology product owners under long-term distribution agreements, is pleased to announce its audited results for the year ended 31 March 2024. A full copy of the Annual Report and Audited Consolidated Financial Statements will be obtainable from the Company's website at https://inteliqo.com/.

This announcement contains information which, prior to its disclosure, constituted inside information as stipulated under Regulation 11 of the Market Abuse (Amendment)(EU Exit) Regulations 2019/310 (as amended).

The directors of Inteliqo Limited accept responsibility for this announcement.

For more information, please contact:

CHAIRMAN’S REPORT FOR THE YEAR ENDED 31 MARCH 2024

Introduction

I am pleased to present the Chairman's statement, highlighting the progress of Inteliqo Limited (the "Company") and its subsidiary (together the “Group”) for the year ended 31 March 2024. Since the Company was admitted to the Access segment of the AQSE in August 2022 and subsequently admitted to OTC on 5 February 2024, the Group remains focused on delivering sales, marketing, and distribution services to prominent technology brands through long-term agreements.

Business Overview and Objectives

During this reporting period, our primary focus has been on supporting the development and marketing of the Langaroo App for our client.

The Langaroo App is a groundbreaking mobile platform that empowers users to understand, communicate, and share information in over 130 languages. As the ultimate translation tool, it facilitates seamless communication across various scenarios.

The initial version of the Langaroo App was successfully launched in January 2024, with regular updates rolled out throughout the year. This version includes a fully translated chat module, a social media community, and real-time translated transcription for live voice and video calls.

As part of our long-term strategy, we have initiated marketing efforts to attract free users. More recently, we collaborated closely with Langaroo to refine the app's core offering, enhance features, and lay the groundwork for monetisation.  The aim is to build a robust global community that depends on Langaroo for communication, commerce, and cultural exchange. Langaroo aims to become the premier platform for:

• Real-time, peer-to-peer communication across languages.
• Growing international communities and groups.
• Facilitating global business networking by overcoming language barriers.
• Translated live streams, podcasts, and posts for greater accessibility.
• Promoting cross-cultural and commercial exchange through a diverse marketplace.

To achieve this, several new features are being developed. The monetisation strategy for Langaroo will include premium subscription services, platform fees on peer-to-peer transactions, and advertising revenue.

We have committed to overseeing the development and future marketing of these features as part of our exclusive sales and marketing agreement for our client. Given the extended development timeline, we have amended the terms of this agreement to ensure guaranteed minimum income levels for Inteliqo, enabling us to meet operational expenses while continuing platform development.

We anticipate being able to market these new features, alongside the implemented monetisation strategies, within the next 3 to 6 months.

Financial Results

The Group's financial results to 31st March 2024 (see page 8) reflect the commencement of Langaroo sales with a profit for the year of $31k compared to the loss of $684k during the period to 31 March 2023 which included the setup and listing of the Company.  Basic earnings per share from continuing activities were $0.00028 compared to the loss per share of $0.008 in the previous period. These figures reflect the early stages of our operations. 

Outlook and Future Prospects

The Group delivered a profitable performance for the year ending 31 March 2024, with a minimal cash outflow of $6k. With our client's continued support, we remain confident in our ability to market and sell the Langaroo App in the coming months, sustaining a neutral cash flow. This financial stability will enable us to concentrate on executing the strategic initiatives mentioned earlier, which are anticipated to yield returns under our revenue-sharing agreement.

While we acknowledge that progress has taken longer than initially expected, we are actively exploring new business opportunities to drive growth and deliver long-term value for our stakeholders.

Thank you for your continued support.

Joseph Truelove

Chairman of the Board

Inteliqo Limited

25 September 2024

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 MARCH 2024

CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2024
 

INTELIQO LIMITED: CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 MARCH 2024
 

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024