Ixup (ASX:IXU) announced financial results for the quarter ended 30 September 2022.

IXUP completed an operational restructure to appropriately align resources with commercial opportunities.

Advisory Committee established to provide strategic, commercial and operational guidance and oversight to the Management Team during the transitional period through to appointment of a new CEO.

The services of key advisor Tekkorp Capital retained for additional US market entry assistance.

Appointment of experienced US Online Gaming Executive, Kevin Vonasek, as a US-based consultant to oversee all US commercialisation opportunities.

Material cost reduction program implemented across the organisation to maximise cash runway and align cost base with commercial opportunity set.

Pro-rata non-renounceable entitlement offer completed, raising $4.1 million with remaining shortfall to be allocated.

Acquisition of core intellectual property rights and related assets of PlayPause to strengthen IXUP?s efforts in the rapidly growing and increasingly important global responsible gaming sectors.

Following the announcement the company?s share price fell 2.777%.