In April, NoonTalk partnered with production house Oak 3 Films to finance an upcoming film. The first tranche of its final payment of $179,000 was made to Oak 3 to be used in the production of the film.
An additional $140,000 was incurred during a statutory audit.
NoonTalk says the utilisation of its net proceeds are in accordance with the intended use of proceeds from the IPO, and that it will continue to make periodic announcements on the utilisation of the balance of the net proceeds from the IPO.
Shares in NoonTalk closed flat at 9.9 cents on Nov 6.
