Phaos Technology Holdings (cayman) Ltd (POAS) stock: price, suppliers, customers and institutional ownership

Phaos Technology Holdings (Cayman) Limited is an investment holding company incorporated on March 7, 2024, under the laws of the Cayman Islands. The Company through its subsidiary assembles and commercializes such advanced microscopy-related solutions, technologies and products. Using its patented microsphere-assisted technology, the Company can significantly increase the magnification of existing traditional optical microscopes compared to its competitors, hence allowing our clients to see beyond the optical limit in an effective manner. Currently, it is the only commercially available advanced optical microscope that can see below the 200nm optical limit, within a commercially viable working distance. Our business is primarily involved in the assembling and commercialization of advanced microscopy-related solutions, technologies and products tailored for precision measurement and magnification purposes. Our range of product includes optical microscopy solutions, featuring: i) Super-resolution imagers capable of achieving imaging down to 137nm; ii) Specialized microscopes designed to meet the diverse needs of various industries; and iii) Three-dimensional (“3-D”) real-time image magnifiers for enhanced visualization. Traditional optical microscopes are able to see up to 250nm, while our solution allows users to see up to 137nm. As a result, we believe that this is considered by the optical industry as a super resolution optical microscopy solution. In addition to our hardware offerings, we currently provide complimentary proprietary software, which is developed in-house. This software includes Artificial Intelligent (“AI”) components that allows our customers to perform recognition patterns for research, quality assurance and quality control (“QA/QC”), as well as diagnostics purposes. The in-house software is crafted to complement our product line to help ensure seamless integration and optimized performance for our customers. For the six months period ended October 31, 2023 and 2024, the provision of microscopy products contributed to 99.8% and 80.9% of our revenue, respectively. We distribute our microscopy products with software solutions through an extensive network of distributors, primarily in Vietnam and Singapore, and expanding across regions such as Southeast Asia and South Asia. Our microscopy solutions accommodate a diverse range of applications enabling us to serve a wide range of customer needs and capitalize on emerging growth opportunities in the region. Our diverse customer base primarily includes industries with usage in fields such as manufacturing, research & development, biomedical, semiconductors, Printed Circuit Board (“PCB”), electronics, precision engineering, injection molding, research, healthcare, QA/QC and diagnostics. Our business strategic focus involves strengthening our market position in Singapore and Vietnam, and progressively expanding into the Southeast Asian region. We believe in our strong corporate culture which emphasizes the creation of shareholder value. In the six months period ended October 31, 2024, business in Vietnam and Singapore contributed to 59.8% and 32.1% of our Group’s revenue, respectively. For the six months period ended October 31, 2023, our revenue was S$365,415. For the six months period ended October 31, 2024, our revenue was S$63,129. This is a reduction of 82.7% in revenue. Our net loss and accumulated deficit was S$1,535,175 and S$6,205,397, respectively, for October 31, 2023, while our net loss and accumulated deficit was S$2,019,092 (US$1,526,234) and S$9,049,158 (US$6,840,259) for October 31, 2024. This signifies an increase of 31.5% and 45.8% for net loss and accumulated deficit. The increase in net loss is driven by a decrease in revenue arising from a reduction in sales orders from our largest customers, resulting in additional resources are allocated to focus on regional expansion. and an increase in employee benefits expenses and other operating expenses from October 31, 2023 to October 31, 2024. We expect that the diversification of our customer base will allow us to increase and stabilize our product sales through a larger customer base and lower concentration of top customers which we are working actively to broaden. Service revenue increased as a result of maintenance-based contracts for our customers. As we grow our product and software range, we expect that service revenue will continue to contribute a greater percentage of our revenue going forward. Additional resources are allocated to focus on regional expansion in response to a reduction in sales orders from our largest customers. We expect that the diversification of our customer base will allow us to increase and stabilize our product sales through a larger customer base and lower concentration of top customers which we are working actively to broaden. Service revenue increased as a result of maintenance-based contracts for our customers. As we grow our product and software range, we expect that service revenue will continue to contribute a greater percentage of our revenue going forward. Our registered office in the Cayman Islands is at 89 Nexus Way, Camana Bay, Grand Cayman, KY1-9009, Cayman Islands. Our principal executive office is in Singapore.