Cash shell Polemos said its first-half losses narrowed to £177k, compared to a loss of £391k in the previous six months through June.
At June 30, the company had cash and cash equivalents of £361k, up from £151k a year earlier.
Polemos became a cash shell on 8 March.
'The company is required to complete a reverse takeover within six months of becoming a rule 15 company and the board continues to look for a suitable investment to achieve this,' the company said.
At 1:22pm: (LON:PLMO) Polemos Plc Ord 0.01p share price was 0p at 0.75p