("Lombard" or the "Company")
UNAUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED
CHAIRMAN'S STATEMENT
Dear shareholder
Your current board of directors was formed with my appointment on
My report for the 6 months unaudited figures to
During the period your directors have continued to issue unsecured convertible loan notes and warrants to raise funds to cover overheads and for selected investment purposes.
Your directors have continued to progress towards our target of issuing an investment bond that is secured by reinsurance. The project is currently making significant progress towards issuance and listing on a recognised bond market. I hope to make an announcement in the immediate future.
I look forward to the future with enthusiasm and thank all my colleagues and our professionals for their support and advice.
I also thank you all as shareholders for your continuing support.
Chairman
The directors of
For further information please contact:
Tel: 07718 883813
NEX Exchange Corporate Adviser:
Nick Michaels: 020 7251 3762
Condensed Statement of Comprehensive Income
Six months ended
6 Months Year 6 Months 30/09/2017 31/03/2017 30/09/2016 £ £ £ Continuing operations Investment income - - - Operating expenses (180,518) (190,440) (76,174) Impairment of investments - - - Operating loss and loss before taxation (180,518) (190,440) (76,174) Taxation - - - Loss for the period, attributable to the (180,518) (190,440) (76,174) owners Impairment of investments - reclassification - - - to income statement Market value adjustment to investments - - - Total comprehensive loss for the period (180,518) (190,440) (76,174) Loss per share, basic and fully diluted (in (5.4) (7.1) (3.3) pence)
Condensed Statement of Financial Position
As at 30 September 2017
30/09/2017 31/03/2017 30/09/2016 Unaudited Audited Unaudited £ £ £ Non-current assets Available for sale investments 112,500 112,500 135,810 Current assets Trade and other receivables 7,800 7,800 7,500 Cash and cash equivalents 59,758 622 7,137 67,558 8,422 14,637 Total assets 180,058 120,922 150,447 Equity Ordinary shares 3,401 3,326 2,726 Deferred shares 189,897 189,897 189,897 Share premium 873,528 866,103 812,793 Share option reserve 13,160 13,160 26,320 Investment revaluation reserve 100,184 100,184 100,184 Retained earnings (1,359,329) (1,178,811) (1,064,545) (179,159) (6,141) 67,375 Current liabilities Trade and other payables 359,217 127,063 83,072 Total equity and liabilities 180,058 120,922 150,447
Notes to the financial statements
Six months ended 30 September 2017
1. Basis of preparation
The financial statements for the six months ended
The financial information for the six months ended
2. Earnings per share
The basic and diluted earnings per share is calculated by dividing the loss attributable to the owners of the company by the weighted average number of ordinary shares in issue during the period.
The weighted average number of shares in issue at
3. Investments 30/09/2017 31/03/2017 30/09/2016 Unaudited Audited Unaudited £ £ £ Investments at cost less impairment 112,500 112,500 35,626 Impairments: Reclassified from reserves 0 0 0 Recognised in the year 0 0 0 Market value adjustment 0 0 100,184 Market value at period end 112,500 112,500 135,810
