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GOTCHA! Satsuma Technology restates first interims but the restated accounts still contain material errors!

Tom Winnifrith
Monday 1 September 2025
Today Satsuma (SATS) published its audited interim results for period from 1 June 2025 to 8 August 2025. They record a loss of £10,377,000 and the company was technically insolvent with net liabilities of £6,845,000 versus a market capitalisation of £13.2 million. But given it held £54,043,000 of cash and £99,590,960 in Bitcoin there is no risk of the company going bust for liquidity reasons. The liabilities are almost all CULS so when they convert they will disappear.

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Tom Winnifrith is the editor of TomWinnifrith.com. When he is not harvesting olives in Greece, he is (planning to) raise goats in Wales.
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