Citrine Global Corp., recently rebranded as SkyTech Orion Global Corp., reported its financial results for the six months ending June 30, 2025, revealing a net loss of $942,000, a decrease from a net loss of $1.5 million during the same period in 2024. The company did not generate any revenue during this period, consistent with its previous fiscal results. Operating loss also improved to $455,000 from $667,000 year-over-year, attributed to a reduction in marketing and administrative expenses, which fell to $392,000 from $667,000.
The company’s total assets decreased to $1.2 million as of June 30, 2025, down from $1.6 million at the end of 2024. Current liabilities increased to $4 million, compared to $3.6 million at the end of the previous fiscal year, primarily due to short-term loans and accrued expenses. The stockholders' deficit widened to $3.5 million from $2.7 million, reflecting ongoing operational losses and the impact of share-based compensation.
Strategically, the company has shifted its focus from wellness and plant-based products to the defense sector, particularly unmanned aerial vehicles (UAVs) and drone technologies. This pivot is supported by a government grant of approximately $3.4 million awarded to its Israeli subsidiary, SkyTech Orion Ltd., for the establishment of an innovation and production center in Yerucham, Israel. The center is expected to include advanced manufacturing and R&D facilities aimed at developing defense-grade UAV solutions.
Operationally, the company has maintained its employee headcount at approximately 1,044 million shares outstanding. The strategic shift has been necessitated by the adverse economic conditions in Israel, which have delayed previous product launches and fundraising efforts. The company is now preparing for expansion into the defense sector, leveraging its government-backed assets and partnerships to align with national priorities in defense innovation.
Looking ahead, SkyTech Orion Global Corp. anticipates that its focus on UAV and drone technologies will position it favorably within a growing market, projected to reach $163.6 billion by 2030. The company is optimistic about its ability to secure additional funding and partnerships to support its new strategic direction, although it acknowledges the uncertainty surrounding the timeline for achieving sustainable profitability.
About CITRINE GLOBAL, CORP.
SkyTech Orion Global Corp operates through its Israeli subsidiaries, focusing on advanced unmanned aerial vehicle (UAV) and drone defense solutions. Leveraging government-supported industrial land in Yerucham, Israel, it develops, manufactures, and integrates military-grade UAV systems via its proprietary Operational Innovation Centers platform. The company serves defense sectors domestically and internationally, emphasizing scalable production, regulatory compliance, and strategic partnerships to address growing global demand for secure, innovative unmanned systems.
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