Multistack International Limited (MSI), an ASX-listed company, has released its quarterly activity report for the period from July to September 2025. Multistack, whose principal business activities involve the sale, marketing, and distribution of water-cooled and air-cooled water chillers, reported no chiller sales during the quarter, with revenue limited to spare parts.
The company previously announced on June 27, 2025, that its board has reviewed the commercial viability of its underlying business. Citing ongoing operating losses and the inability to raise necessary capital, the directors have decided to discontinue the business in its current form. The company is now focusing on the disposal of its shares in Multistack Australia, subject to mutual agreement, documentation, and shareholder approval, including an independent expert’s report if required.
During this transitional period, Multistack intends to operate prudently as a going concern and will continue to meet its ASX and other reporting obligations. As of the end of the quarter, the company held $1,332,347 in cash and cash equivalents. Quarterly operating expenditure totalled $220,605, comprising $30,007 in trading and operating expenses and $190,598 in staff, administration, and corporate-related costs.
The company also noted that it has previously borrowed a total of $696,000 from ACR Equipment (HK) Ltd, a related party, under a non-interest bearing unsecured facility. The announcement was authorised by the Board of Directors. Yan Wong, Company Secretary of Multistack International Limited (MSI), signed off on the report.
