<a href="https://laohu8.com/S/ADD">Color Star Technology Co. Ltd</a>. Reports No Revenue for Six Months Ending December 2024, Net Loss Widens to $22.8M
Color Star Technology Co., Ltd. released its unaudited condensed consolidated financial results for the six months ended December 31, 2024. The company reported no revenue for this period, a significant decrease from the $1.06 million recorded in the same period in 2023. The company also reported a net loss of $22.82 million, compared to a net loss of $21.12 million in the previous year. The results highlight a gross profit reduction, moving from $267,042 in 2023 to zero in 2024. Selling, general, and administrative expenses increased to $3.90 million from $3.63 million the previous year. Additionally, the allowance for credit losses decreased significantly to $740,000 from $15.79 million in 2023. The company also reported an impairment loss of intangible assets amounting to $14.63 million, with no such loss recorded in the previous year. No outlook or guidance was provided in the report regarding future performance.
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