Highlights

  • A placement completed on 14 September 2026 issued 93 million shares at $0.005 and raised $465,000 in total.
  • June quarter cash receipts were $679,000, closing cash was $228,000 and estimated funding runway was 1.87 quarters.
  • Prodigy9 was transferred to its founder in a cash-neutral deal and deconsolidated from 1 June 2026.
  • Options under consideration for the Codexa platform include white-label licensing, a potential outright sale and limited US operations.

InFocus Group Holdings Limited (ASX:IFG) is simplifying its business while topping up cash. The Perth-based data intelligence and software company transferred its Thai subsidiary Prodigy9 to the founder, raised $465,000 in a September 2026 placement and is weighing how to commercialise its Codexa iGaming platform.

Company Snapshot

InFocus describes itself as a data intelligence and software solutions company, formerly known as Frugl Group. Its units include InFocus Analytics, which provides retail pricing and promotion analytics and powers the Frugl grocery app, InFocus Gaming Technologies, which develops the Codexa iGaming platform, InFocus Digital Ventures, which holds digital assets, and Onify, an AI-native engineering business in Thailand.

Ken Tovich became chief executive and executive director from 1 July 2025, and the board is chaired by Kit Weng Yip.

Recent Results and Cash Position

In the half year to 31 December 2025, revenue and other income was $2.74 million, including a $1.57 million research and development rebate, while revenue from customers was $1.11 million. The net loss attributable to members was $2.99 million. Cash was $586,838 and net assets were $1.29 million, with convertible notes of $2.86 million classified as non-current.

For the June 2026 quarter, receipts were $679,000 and operating cash flow was an outflow of $780,000. Closing cash was $228,000, and unused facilities were $1.23 million against total facilities of $6.56 million, of which $5.33 million was drawn. Digital assets, mainly Bitcoin, were carried at $1.48 million at 31 December 2025.

Funding, Divestment and Codexa

The Mythos Group facility provides up to $10 million through convertible notes with a 24-month maturity, and Obsidian subscribed A$1 million of notes in January 2026. On 14 September 2026, 93 million placement shares were issued at $0.005, lifting shares on issue to 612,177,775. Related option issues need future shareholder approval.

Prodigy9 was transferred to its founder, Chakrit Wichian, in a cash-neutral deal, and AGM approval will be sought to cancel the IFG securities he holds. For Codexa, which ran a technical preview from April 2026, the company says options under consideration include white-label licensing and managed services, a potential outright sale of the platform and limited US operations. These are options, not confirmed transactions.

Outlook and Risks to Watch

Onify is expected to be at least cash-neutral once cost savings are realised, and research and development spending is expected to keep scaling back. The company says it can raise capital and expects to continue operations. The next quarterly report is due on 31 October 2026, and the AGM is on 17 November 2026 at 1pm Perth time.

The half-year review included an emphasis of matter on material uncertainty about going concern. Other risks include the short funding runway, loans at 17% that rely on receipt of the research and development rebate, a $1.5 million facility repayable on 31 May 2027, cryptocurrency price swings and dilution from convertible notes.

Stock Price Information

InFocus Group shares were unchanged at A$0.008 on 27 October 2026, giving the company a market capitalisation of about A$4.9 million. The stock is down 27.27% over the past year.