However, group profit before tax rose 6.1% to $12.2 million in 1Q18, from $11.5 million a year ago.
The increase was mainly due to a fair value gain associated with the Guggenheim investment of $12.2 million reclassified from other comprehensive income.
As at end September, cash and cash equivalents stood at $55.5 million.
Following the divestment of its entire ownership interests in Guggenheim, k1 Ventures says it has disposed of substantially all of its assets and will take steps to suspend the trading of its shares.
This will take effect from the date of completion of the Guggenheim disposal.
The company will then take steps to commence voluntary liquidation after it distributes all excess cash to its shareholders following the completion of the Guggenheim disposal.
Shares in k1 Ventures closed 1 cent lower at 82 cents on Friday.
