Skip to content

Inteliqo Ltd - Interim Results

Announcement provided by

Inteliqo Limited · IQO

18/10/2023 07:00

Inteliqo Ltd - Interim Results PR Newswire

18 October 2023

Inteliqo Limited

(“Inteliqo”, the “Company”)

Interim 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 unaudited interim results for the 6-month period ended 30 September 2023. A full copy of the Interim Report will be obtainable from the Company's website at .

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).

This announcement may contain “forward-looking” statements and information relating to the Company. These statements are based on the belief of Company management, as well as assumptions made by and information currently available to Company management. The Company does not undertake to update forward-looking statements or forward-looking information, except as required by law.

The directors of Inteliqo Limited accept responsibility for this announcement.

For more information, please contact:

Inteliqo Limited

Joseph Hill

First Sentinel Corporate Finance Limited

Brian Stockbridge

+44 20 3855 5551

Inteliqo Limited: Chairman’s Report for the period ended 30 September 2023


I am pleased to present the Chairman's statement, highlighting the progress and achievements of Inteliqo Limited (the "Company") and its subsidiary (together the “Group”) for the 6 months to 30 September 2023.  Under the leadership of our CEO, Joseph Hill, our dedicated team has made significant strides in positioning the Company for success in the technology market.

Business Overview and Objectives

Inteliqo is a technology company focused on delivering sales, marketing and distribution services to two prominent technology brands through long-term agreements with Ipedia and Langaroo.

Ipedia (

The Ipedia iQ product is a smart translation earphone (earbuds) system offering integrated real-time speech translation in 130 languages, built-in smart assist (Google and Siri), multiple built-in microphones, and high-definition sound.

The Company's principal activity is to market, sell, and distribute Ipedia technology products by appointing resellers in defined territories globally. The Company generates income from the sales of these products; sharing a proportion of such income with the product owners under the terms of its distribution agreements.

Last year, Inteliqo appointed an exclusive reseller for the promotion and sale of Ipedia products in nine territories. The agreements carry an initial five-year term, and we expect the first orders from these agreements to start during Q4 of 2023.

The quantum and timing of these orders are not guaranteed.

Langaroo (

Langaroo is a mobile application that enables users to understand, speak, message, and share information across over 130 languages. It serves as the ultimate translation buddy, facilitating seamless communication for users in various scenarios.

Inteliqo secured an exclusive sales and marketing agreement for the Langaroo App, solidifying our commitment to driving its global adoption. This agreement enables us to distribute the Langaroo App effectively and leverage its impressive features across various industries and regions.

The Company generates income from the sales of subscriptions or territory licence agreements, benefiting from a proportion of revenue as defined in a revenue share agreement.

Financial Results

The Group's financial results to 30 September 2023 reflect the commencement of sales leading to a profit of $185k, with basic earnings per share from continuing activities of $0.002.  These figures reflect the early stages of our operations and we remain focused on executing our strategic initiatives and achieving sustainable growth.

Outlook and Future Prospects

The Group is now operating profitably, with positive cash flows and this promising result aligns with our commitment to delivering value to our shareholders.

Looking ahead, we are optimistic about the Group's prospects. The Langaroo App is now generating sales from its Beta launch and Full Application is scheduled for release early in Q1 2024.

Coupled with the recent attainment of Exclusive Reseller Agreements for Ipedia, we are confident that the Company will operate profitably this year.

Thank you for your continued support and trust in our vision. We are committed to driving Inteliqo's growth and creating value for all stakeholders.

Joseph Truelove

Chairman of the Board

Inteliqo Limited

17 October 2023

Inteliqo Limited: Statement of comprehensive income and retained earnings for the period ended 30 September 2023

Period to 30 September 2023 Period to 30 September 2022
Revenue 558,029 -
Other income 88 42
Administrative expenses (370,447) (452,216)
Realised foreign currency gains 223 20,123
Unrealised foreign currency gains (2,504) 4,412
Operating profit and profit before tax 185,389 (427,639)
Tax expense - -
Profit for the period from continuing operations 185,389 (427,639)
Earnings per share
Basic earnings per share from continuing operations 0.002 (0.007)
Diluted earnings per share from continuing operations 0.002 (0.007)

Inteliqo Limited: Statement of financial position as at 30 September 2023

Notes 30 September 2023 30 September 2022
Non-current assets
Office equipment 2,958 1,259
Current assets
Trade and other receivables 44,928 15,611
Cash and cash equivalents 384,221 475,246
429,149 490,857
Total assets 432,107 492,116
Current liabilities
Trade and other payables 116,908 105,678
Share capital 6 14,188 14,188
Share premium 799,889 799,889
Retained earnings (498,878) (427,639)
315,199 386,438
Total liabilities and equity 432,107 492,116

The accompanying notes on pages 6 and 7 form an integral part of these interim condensed consolidated financial statements.

These interim condensed consolidated financial statements were approved and authorised for issue by the directors on 17 October 2023 and are signed on their behalf by:

Ray Smart

Finance Director

Inteliqo Limited: Statement of changes in equity for the period ended 30 September 2023

Share capital Share premium Retained earnings Total
Issue of share capital prior to admission to Aquis 13,900 738,621 - 752,521
Issue of share capital on admission to Aquis 288 61,268 - 61,556
Profit for the period - - (427,639) (427,639)
Balance at 30 September 2022 14,188 799,889 (427,639) 386,438
Balance at 1 April 2023 14,188 799,889 (684,267) 129,810
Profit for the period - - 185,389 185,389
Balance at 30 September 2023 14,188 799,889 (498,878) 386,438

Inteliqo Limited Statement of cash flows for the period ended 30 September 2023

Period to 30 September 2023 Period to 30 September 2022
Operating activities
Profit before tax 185,389 (427,639)
Adjustments for non-cash income and expenses:
Depreciation of office equipment 534 36
Changes in operating assets and liabilities:
Trade and other receivables (12,058) (15,611)
Trade and other payables 22,320 105,678
Net cash from operating activities 196,185 (337,536)
Cash flows from investing activities
Purchases of equipment (1,126) (1,295)
Cash flows from financing activities
Proceeds from issue of share capital - 814,077
Net change in cash and cash equivalents 195,059 475,246
Cash and cash equivalents at the beginning of the period 189,162 -
Cash and cash equivalents at the end of the period 384,221 475,246

Inteliqo Limited accounting policies and explanatory notes to the financial statements for the period ended 30 September 2023

  1. General information

Inteliqo Limited (the “Company”) is a company limited by shares under The Companies (Guernsey) Law 2008 (as amended) and was incorporated in Guernsey on 3 May 2022 and listed on the Access Segment of Aquis Stock Exchange ("AQSE") on 5th August 2022  The address of its registered office and principal place of business is Dixcart House, Sir William Place, St Peter Port Guernsey, GY1 1GX.  The Group’s principal activity is the provision of sales, marketing and distribution services.

  1. Basis of preparation and accounting policies

These unaudited interim condensed consolidated financial statements (the “Financial Statements”) are for the six months ended 30 September 2023 and comprise the Company and its subsidiary (together the “Group”) and have been prepared on an accruals basis and under the historical cost convention in accordance with IAS 34 “Interim Financial Reporting” and  applicable legal and regulatory requirements. They are presented in US Dollars, the functional currency of the Group and they do not include all disclosures that would otherwise be required in annual financial statements in accordance with IFRS, and should be read in conjunction with the Company’s audited consolidated financial statements for the period ended 31 March 2023.

The Company has applied the same accounting policies and methods of computation in these Financial Statements as applied in its first full audited consolidated financial statements to 31 March 2023 which were prepared in accordance with the International Financial Reporting Standards (“IFRS”), as issued by the International Accounting Standards Board (“IASB”).

There are no accounting pronouncements which have become effective from 1 April 2023 that have a significant impact on the Financial Statements.

  1. Significant management judgement in applying accounting policies and estimation uncertainty

When preparing the Financial Statements, management undertakes a number of judgements, estimates and assumptions about recognition and measurement of assets, liabilities, income and expenses. The actual results may differ from the judgements, estimates and assumptions made by management, and will seldom equal the estimated results.

The judgements, estimates and assumptions applied in the Financial Statements, including the key sources of estimation uncertainty, were the same as those applied in the Group’s last audited annual financial statements for the period ended 31 March 2023.

  1. Earnings per share and dividends

Earnings per share, both the basic and diluted earnings per share, have been calculated using the profit attributable to shareholders of the Company as the numerator, ie no adjustments to profit were necessary. The reconciliation of the weighted average number of shares for the purposes of diluted earnings per share to the weighted average number of ordinary shares used in the calculation of basic earnings per share is as follows:

2023 2022
Weighted average number of shares used in basic earnings per share 112,500,000 58,991,589
Weighted average number of shares used in diluted earnings per share 117,472,500 61,560.166
  1. Interests in subsidiaries

On 22 March 2023, the Company acquired the entire share capital of Inteliqo Marketing Limited which is registered in England and Wales.  The acquisition was made to support the Company’s treasury function and the principal activity of Inteliqo Marketing Limited is to hold bank accounts and collect and pay out the proceeds of transactions on behalf of the Company and it does not operate in its own right.  As the company does not meet the criteria as set out in IFRS 3 to be defined as a business the purchase has been recognised in these accounts as an asset acquisition and the acquisition cost of $1,209 has been allocated to the assets categories of the subsidiary as at 30 September 2023.

  1. Share capital

The share capital of the Company comprises 112,500,000 ordinary shares with par value GBP0.0001.  An additional 15,027,500 ordinary shares with par value GBP0.0001 are authorised but unissued.  The Company has issued warrants over 4,972,500 ordinary shares with par value GBP0.0001.

  1. Commitments under operating leases

The Group rents an office under an operating lease on a three month rolling basis with a one month notice period.  The minimum lease commitment at the period end is GBP1,950.

  1. Related party transactions

Key management of the Company are the executive and non-executive directors. Key management personnel remuneration includes the following expenses:

Period to 30 September 2023 Period to 30 September 2022
Short-term employee benefits 23,945 31,755
Director fees 16,569 5,245
Salaries including bonuses 149,935 70,342
Social security costs 11,056 4,399
Total remuneration 201,505 111,741

The Company has paid a deposit to a 3rd party for a property rented by the Company which forms part of the short term employee benefits noted above.  At 30 September 2023 the balance of the deposit was £8,850.

HKML Limited, a company owned by a director, Michael Hill, holds 7,312,500 ordinary shares in the Company and holds warrants over a further 1,399,500 ordinary shares.  HKML Limited also entered into a revenue share agreement with the Company on 1 June 2023.

Ray Smart, a director of the Company, holds 135,872 ordinary shares in the Company.

  1. Approval of Interim Report

This Interim Report was approved by the board of directors and authorised for issue on 17 October 2023.

View more ...

IQO announcementsAll announcements


  • About
  • News
  • Investor Relations
  • Contact
  • Careers

© Aquis Exchange 2024. All rights reserved.

Terms & ConditionsPrivacy PolicyModern Slavery & Human Trafficking Policy
System statusnormal