Hype-Tech 'Inyova' Still Has 7 Months Of Cash In 2023 – Inside Paradeplatz

There is a sense of doom in the auditor's report.

“As of December 31, 2023, Inyova AG had liquid assets of CHF 3.1 million, which secures the liquidity requirements of the company’s operating activities for seven months.”

“The ability of Inyova AG to continue as a going concern depends primarily on whether the required liquidity can be obtained through further rounds of financing and whether the profitability of the company can be ensured in the long term.”

Is the interesting startup based on Zurich's Limmatstrasse at the former Arbeiterkreis 5, which wants to turn “millions of people into impact investors”, about to end?

“Inyova is not bankrupt and no jobs are at stake,” a company spokesperson wrote when asked.

“The opposite is true. Inyova just closed a funding round in Q2 and is now offering the same terms to crowdfund investors.

Everything is going smoothly. “Overall, Innova is in a very good position and is growing steadily,” said the Innova man.

The new money in these weeks has been crucial. Here’s what the 2023 audit report says:

“If the planned financing round cannot cover the liquidity requirements or the budget expectations cannot be achieved, this will have a negative impact on the financial position of Inyova AG, which is why there is a great deal of uncertainty regarding the ability to continue on the right footing.”

The people in charge were already painting everything pink.

Innova will generate “positive operating cash flow from 2026” and be “profitable from 2027,” as VR forecasts at the end of 2023.

Time will tell. Effectively, the 2022 and 2023 financials reveal a deep black hole.

Loss 2022: 5 million. Loss 2022: 2.6 million.

A look at the balance sheet makes you shiver. Liquid assets have dropped from over $7.5 million to $3.1 million.

The “participations” increased by more than a million.

On the liabilities side, short-term debt capital increased by over $4 million. Equity melted from $5 million to $2.4 million.

All horror, all drama. But on the Innova Bridge there is no sign of horror. This is what the home page says:

“We want to empower people to actively participate in businesses.”

“This allows them to take back control and direct investments toward what citizens and communities value.”

We are the good. We are the saviors. The world needs us.

Effectively the opposite is true. Innova needs the world, or rather, money.