("Early Equity" or the "Company")
Unaudited Interim Results for the Six Months Ended
Executive Director’s Statement
I am pleased to present the unaudited interim results for the Company for the six-month period ended
Results and Review of Business
The loss for the period was
The value of our investment portfolio decreased to
Post Balance Sheet Events
There have been no material events, transactions or developments within the post balance sheet period.
The Company is pleased to report that Yicom has continued to significantly increase its network of sales agents and sales volumes. Yicom is also actively pursuing representation in other territories.
Whilst the investment in Devilfish has been written down for accounting purposes, the Company remains optimistic that the investment will prove successful. The online casino has enjoyed success in attracting player registrations and is now operating at a small profit. The management team is now preparing the Poker product to be integrated into the online gaming platform and hope to launch later this year (Q4).
The Company continues to seek further acquisitions that meet its investment criteria and intend to raise additional funds in the future when suitable investment opportunities present.
The Company's investment strategy is to invest in early stage, small to medium high-growth enterprises around the world. The Directors will continue to evaluate suitable investments opportunities.
On behalf of the Board, I would like to take this opportunity to thank shareholders and professional advisers for their continued support of the Company.
CONSOLIDATED INTERIM STATEMENT OF COMPREHENSIVE INCOME
FOR SIX MONTHS TO
6 months to 6 months to 28 February 2017 29 February 2016 CONTINUING OPERATIONS GBP GBP TURNOVER - - OTHER INCOME - - ADMINISTRATIVE EXPENSES (49,820) (46,502) OTHER OPERATING EXPENSES (16,331) 954 FINANCE COSTS (640) (392) (LOSS) BEFORE TAX (66,791) (45,940) INCOME TAX - (LOSS) FOR THE YEAR / PERIOD (66,791) (45,940) OTHER COMPREHENSIVE INCOME / (LOSS) Loss on fair value changes of - - available-for-sale financial assets Reclassification of fair value gain on - - disposal of available-for-sale financial assets OTHER COMPREHENSIVE INCOME / (LOSS) FOR THE - - YEAR / PERIOD TOTAL COMPREHENSIVE LOSS FOR THE YEAR / PERIOD (66,791) (45,940) BASIC AND DILUTED LOSS PER SHARE (0.01)p (0.01)p 6 months to 6 months to CONSOLIDATED STATEMENT OF FINANCIAL POSITION 28 February 2017 29 February 2016 AS AT
28 FEBRUARY 2017GBP GBP INVESTMENTS Available-for-sale financial assets 594,436 622,637 CURRENT ASSETS Trade and other receivables 6,086 1,394 Cash and cash equivalents 46,927 146,341 53,013 147,735 CURRENT LIABILITIES Trade and other payables (8,450) (100) Unsecured loan (8,450) (100) NET CURRENT ASSETS / (LIABILITIES) 44,563 147,635 NET ASSETS 638,999 770,272 REPRESSENTING:- Share capital 809,623 809,623 Share premium 683,590 683,590 1,493,213 1,493,213 Fair value reserve 49,031 49,031 Accumulated losses (903,245) (771,972) SHAREHOLDERS FUNDS 638,999 770,272
The interim financial information for the six months ended
The Directors of the Company accept responsibility for the announcement.
Tel: +44 (0)78 3018 2501
NEX EXCHANGE CORPORATE ADVISER:
Telephone: +44 (0) 20 7448 9820