Highlights

  • A Placement upsized to A$465,000 funded Codexa commercialisation and new product work across InFocus Gaming Technologies.
  • The company transferred Prodigy9 to its founder on a cash-neutral basis, deconsolidating it from 1 June 2026.
  • Cash stood at A$228k on 30 June 2026, equal to about 1.87 quarters of funding including undrawn facilities.
  • Unaudited FY26 results showed Revenue from ordinary activities rising 17.66% while the net loss roughly doubled.

InFocus Group Holdings Limited (ASX:IFG) is concentrating its Capital on iGaming and digital Assets after a mid-year restructure that shrank its software services arm, with a September placement directed at taking its Codexa sweepstakes casino platform to market.

The technology group describes itself as an AI-native business, combining enterprise software services with its own ventures.

Restructure Folds Prodigy9 Into Onify

On 5 June 2026, InFocus announced it would merge its two Thai enterprise software businesses, Prodigy9 and Onify, under the Onify brand, with a smaller and more senior team focused on complex delivery, AI, Machine Learning and data analytics. Management linked the change to AI-assisted tools shortening development cycles and reducing Demand for routine development work.

Rather than wind Prodigy9 down and incur Thai severance costs, the company transferred it to founder Chakrit Wichian on a cash-neutral basis, with him assuming its liabilities from 1 June 2026. InFocus retained key enterprise clients, including Chubb Life, Thai Union and The Mall Group. The company expects Onify to be at least cash-neutral once all savings are realised, although no dollar figure for the savings has been disclosed.

Codexa Moves Towards Commercialisation

Codexa is a proprietary sweepstakes casino platform aimed at the US market. After a global technical preview from April 2026, the company deployed a major upgrade featuring a VIP-style player experience, in-app chat and an AI-enabled compliance engine covering anti-fraud, anti-money laundering, know-your-customer checks and sanctions screening.

InFocus is pursuing three routes: white-label licensing with managed services, limited US operations under its own brand, and a potential sale of Codexa or the iGaming Business unit. Patent applications are being prepared for user experience, Gamification and responsible gambling features.

Funding Position and FY26 Result

The placement announced on 3 September 2026 was upsized to A$465,000 through the issue of 93 million shares, with one attaching option for every two shares exercisable at A$0.01, subject to Shareholder approval. Further Options are proposed for adviser Reign Advisory and for noteholder Obsidian Global in lieu of cash note repayments.

Cash was A$228k at 30 June 2026 after a Jun-quarter operating outflow of A$780k. Total facilities were A$6.56 million, of which A$5.33 million was drawn, and short-term Radium Capital loans are to be repaid from the FY26 R&D rebate. Unaudited FY26 results showed revenue up 17.66% and the net loss up 100.64%, including a A$495,842 loss on losing control of Prodigy9.

Outlook: AGM and US Launch Plans

The Annual General Meeting is scheduled for 17 November 2026, where approval will be sought to cancel IFG securities held by Wichian. Management expects Research and Development spending to keep scaling back and plans to fund operations through raisings from shareholders and new investors. No date has been set for a US launch of Codexa.

Shares were unchanged at A$0.007 on 2 November 2026, giving a Market Capitalisation of about A$4.29 million, and were down 36.36% over 12 months.