("CIA" or the "Company")
UNAUDITED FINANCIAL RESULTS FOR THE PERIOD FROM
FINANCIALS
The unaudited combined financial results for the period
“I am pleased to present the unaudited combined financial results of the Group.
I am pleased with the progress made in this initial period, notwithstanding the impacts on the Group’s business of the COVID-19 pandemic, and look forward to continuing to update shareholders on the progress of the Group and the exciting prospects ahead, some of which are developing reasonably fast. We continue to seek new investment opportunities and will advise shareholders as they come to fruition.“
Chief Executive Officer/Executive Director
The Directors of the Company accept responsibility for the content of this announcement.
ENQUIRIES:
Company
Telephone: +973 3 9696273
Corporate Adviser
Telephone: +44 20 7469 0930
COMBINED UNAUDITED INCOME STATEMENT
FOR THE PERIOD
For the period ended 31 For the period ended 30 December 2019 September 2018 Unaudited Audited GBP GBP Revenue - - Cost of sales - - Gross profit - - Administrative expenses (973,885) (204,415) Operating loss (973,885) (204,415) Finance income 6 337 Finance costs (10,188) - Loss before income tax (984,067) (204,078) Income tax - - Loss for the financial period (984,067) (204,078) attributable to the Company's equity shareholders Loss per share from operations Basic and diluted loss per (0.0021) (0.0015) share (GBP)
COMBINED STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIOD
For the period ended 31 For the period ended 30 December 2019 September 2018 Unaudited Audited GBP GBP Loss for the period (984,067) (204,078) Gain on translation to 25,071 - presentation currency Other comprehensive loss (8,900) - Total comprehensive loss for (967,896) (204,078) the period attributable to the Company's equity shareholders
COMBINED STATEMENT OF FINANCIAL POSITION
AS AT
As at 31 December As at 30 September 2019 2018 Unaudited Audited GBP GBP Assets Non-current assets Tangible fixed assets 494,758 - Right-of-use assets 55,644 - Debtors: amounts falling due after more 3,431,989 - than one year Investments 26,806,099 358,362 Total non-current 30,788,490 358,362 assets Current assets Trade and other 105,813 5,080 receivables Inventories 8,766 - Cash and cash 13,231 68,602 equivalents Total current assets 127,810 73,682 Total assets 30,916,300 432,044 Liabilities Current liabilities Trade and other 1,260,254 22,622 payables Total current 1,260,254 22,622 liabilities Net current (1,132,444) 51,060 (liabilities)/assets Non-current liabilities Creditors: amounts falling due after more 5,027,291 - than one year Total non-current liabilities 5,027,291 - Net assets 24,628,755 409,422 Equity Capital and reserves attributable to equity shareholders: Share capital 2,844,413 402,750 Share premium 24,623,938 210,750 Accumulated loss (2,839,596) (204,078) Total equity 24,628,755 409,422
COMBINED STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDING
Share Share Accumulated capital premium losses Total Equity GBP GBP GBP GBP For the period ended - - - - 18 September 2017 Issue of share capital 402,750 236,250 - 639,000 Cost of shares issued - (25,500) - (25,500) Total comprehensive loss - - (204,078) (204,078) for the period For the period ended 402,750 210,750 (204,078) 409,422 30 September 2018 Issue of share capital 2,441,663 24,413,188 - 26,854,851 Pre-acquisition - - (1,667,622) (1,667,622) accumulated losses Total comprehensive loss - - (967,896) (967,896) for the period For the period ended 2,844,413 24,623,938 (2,839,596) 24,628,755 31 December 2019
COMBINED STATEMENTS OF CASH FLOWS
FOR THE PERIOD
For the period ended 31 For the period ended 30 December 2019 September 2018 Unaudited Audited GBP GBP Operating activities Loss for the period before (967,896) (204,078) income tax Add: Depreciation (non-cash) 8,550 - Increase in right-of-use assets (64,194) - Increase in debtors: amounts (3,431,989) - falling due after more than one year Increase in trade and other (100,733) (5,080) receivables Increase in inventories (8,766) - Increase in trade and other 1,237,632 22,622 payables Increase in creditors: amounts 5,027,291 - falling due after more than one year Net cash generated from/ (used 1,699,895 (186,536) in) operating activities Investing activities Purchase of tangible fixed (494,758) - assets Purchase of investments (5,248) (358,362) Pre-acquisition accumulated (1,309,260) - losses, net of investments Net cash used in investing (1,809,266) (358,362) activities Financing activities Proceeds from issue of shares 54,000 639,000 Issue costs - (25,500) Net cash generated from 54,000 613,500 financing activities Net (decrease)/ increase in (55,371) 68,602 cash and cash equivalents Cash and cash equivalents at 68,602 - beginning of period Cash and cash equivalents at 13,231 68,602 end of period
