Strat Aero posts a loss for the six months to 30 June 2016, before and after taxation, of US$2,121,986 compared with $1,311,117 last time.
The loss per share was 1.20 cents (2015: loss per share of 1.61 cents).
Administrative expenses amounted to US$2,387,675 (Period to 30 June 2015: US$1,308,232), a large portion of these costs continue to comprise of wages and salaries, consultancy and professional fees associated with a public company.
Strat Aero says that in comparison with last year's level of costs it should be noted that H1 2016 incorporates the full impact of meeting Aero Kinetics' working capital commitments and also the working capital commitments associated with Geocurve.
Consolidated net assets at 30 June 2016 amounted to US$173,875 (30 June 2015: US$478,406). Cash balances at the period end amounted to US$275,428 (30 June 2015: US$238,324). During the period the Company raised US$1,415,765 net of costs through the issue of new shares. Post period end, Strat Aero settled the final balance payable to the founders of Geocurve of £374,893 via the issue of 37,489,288 new ordinary shares in the Company on 18 July 2016 at 1p per share.