The revenues for the year were ยฃ1.57m, representing an uplift from the ยฃ906k achieved in 2021. However, of this revenue, sales to the related party DeepVerge plc ("DeepVerge"), as set out in note 28, totalled ยฃ1,248,828 (plus VAT) of which they have only settled ยฃ118,659 (plus VAT) leaving a balance of ยฃ1,130,169 (plus VAT) outstanding. On 19 April 2023, DeepVerge announced that it could not meet its obligation to creditors and that a payment plan had been tentatively agreed with Microsaic. However, on 26 June 2023, DeepVerge plc announced that it would no longer be able to support its subsidiaries and was anticipating a sale or liquidation of these assets. The impact of this on the Company has been recognised as an adjusting event after the reporting date with ยฃ1,130,169 charged as an impairment of related party debt. Excluding revenues from DeepVerge, revenues for 2022 were only ยฃ318,869, significantly <mark style="background-color:yellow">below</mark> the prior year. The results for 2022, subsequent performance in 2023 and forecasts for 2024 and beyond therefore need to be considered on the basis that no further payments and no further revenues are expected to be received from DeepVerge.