Seed Capital Solutions plc (LON: SCSP) reported a net loss of £92,600 for the six months ended June 30, 2026, and announced plans to raise equity capital amid a deteriorating cash position.
Cash at the company fell to £10,900 by June 30, down from £14,700 at December 31, 2025 and £211,400 a year earlier. Total liabilities stood at £511,900, leaving net liabilities of £490,700.
The results come after Seed Capital Solutions saw its proposed acquisition of Spanish firm Cuarta Dimension Medica SL terminated on July 10, 2026. The deal had required authorization from the Spanish Ministry of Economy, Trade and Business because the target operates in artificial intelligence, classified as a strategic sector. The company was informed such authorization would not be granted.
Following the collapsed deal, the board obtained shareholder authority to undertake an equity fundraising. The proceeds are intended to satisfy ongoing obligations, settle professional creditor liabilities, and provide initial capital for future acquisition and investment opportunities.
On August 18, 2026, the company said it agreed to settle up to £125,000 of professional creditors through the issuance of new ordinary shares, with an additional £50,000 payable in cash.
Seed Capital Solutions also changed its accounting reference date from June 30 to December 31, extending the current statutory financial period to 18 months running from July 1, 2025 to December 31, 2026.
The company plans to request that the Financial Conduct Authority lift the temporary suspension of its listing on the Official List once the creditor settlement and fundraising are complete. Directors acknowledged a material uncertainty exists regarding the company's ability to continue as a going concern, which depends on the successful completion of the equity funding exercise.
