MYCELX TECHNOLOGIES CORPORATION

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

US GAAP

Auditor

Deloitte & Touche LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The Company believes that it has sufficient liquidity from available cash balances, cash generated from ongoing operations, and general ability to access the capital and debt markets to satisfy the operating requirements of the business through the next twelve months. In February 2024, the Company sold its Saudi Arabia branch assets for $7.125 million which included payment of $3.125 million at closing and up to $4 million deferred on a 24 month earn-out structure. Within the Statement of Cash Flows, of the $3.125 million of proceeds from the sale, $2.281 million is reflected as proceeds from sale of property and equipment, within cash flows from investing activities, and $844,000 is included in net loss within cash flows from operating activities. Additionally, the Company raised gross proceeds of $0.9 million before expenses in a Placing of Common Shares in September 2024. The proceeds of these transactions will enable the Company to focus on accelerating its marketing and sales plan for its unique technologies in the PFAS remediation and EOR markets while also supporting other working capital needs. The Company actively manages its financial risk by operating Board-approved financial policies that are designed to ensure that the Company maintains an adequate level of liquidity and effectively mitigates financial risks. On the basis of current financial projections, including a downside scenario sensitivity analysis considering only revenues that are contracted or that the Company considers probable and adjusting for direct cost of goods sold within the analysis, the Company believes that it has adequate resources to continue in operational existence for the foreseeable future of at least 12 months from the date of the issuance of these financial statements and, accordingly, considers it appropriate to adopt the going concern basis in preparing these Financial Statements. Should the projected cash flow not materialise under certain scenarios, alternative actions to increase liquidity may need to be considered.”

Significant events

• “In February 2024, the Company sold its Saudi Arabia branch assets, including equipment and inventory, for an acquisition price of up to $7.125 million (the 'Total Consideration') to Twarid Water Treatment LLC ('Twarid'). The Total Consideration was split $3.125 million paid at closing with up to $4 million deferred on a 24 month earn-out structure based on Twarid achieving defined revenue targets. The assets sold had a net book value of $2.2 million. The Company initially recognised a gain of $838,000 from the sale of fixed assets and operating profit of $100,000 from the sale of inventory. The Company recognised an additional gain of $1.1 million related to the earn-out for the period ended 31 December 2024.”
• “Management has evaluated subsequent events through 9 May 2025, the date the financial statements were available to be issued, and no events have occurred which require further disclosure.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

2

last 12 months

Capital events

0

last 24 months

Officers appointed

1

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -55%

  £8,085,248 → £3,634,544

• Cash

  +229%

  £283,914 → £934,025

• Net assets

  -26.5%

  £5,305,411 → £3,901,408

• Employees

  —

  Not reported

• Operating profit

  -36.6%

  -£2,469,978 → -£3,375,093

• Profit before tax

  +21%

  -£2,476,649 → -£1,955,523

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers