("Imperial" or the "Company")
Unaudited interim report for the six months to
Dear Shareholder,
I am pleased present the unaudited financial results for
During the period and with a newly formed Board of Directors, Imperial sought to alter its investment focus from seeking investment in natural resource projects to that of seeking investments in the developing market for producing and/or distributing Medicinal Cannabis, derivatives of it and/or related products.
This change in investment focus was approved by shareholders at a general meeting held on
During the period Imperial issued £50,000 in convertible notes to fund its operations. Although Imperial continues to be run leanly with administration expenses kept as low as possible, to stay quoted and continue to operate in 2019, Imperial will need to seek additional capital to continue its existence. It is expected that additional convertible notes will be issued during the next 6 month period.
Financial Review
Cash reserves will be used in the short term to cover general administration costs, initial due diligence expenses and other costs incidental to the identification and development of acquisition opportunities.
During the six month period ended
The interim results have not been reviewed by the Company’s auditors.
Financial Position
The Group’s Statement of Financial Position as at
31 Dec 2018 31 Dec 2017 30 June 2018
£ £ £
Current assets 69,630 43,274 26,341
Total assets 69,630 43,274 26,341
Current liabilities 111,127 12,956 7,860
Total liabilities 111,127 12,956 7,860
Net assets (41,497) 30,318 18,481
Chairman
The Directors of the Company accept responsibility for the content of this announcement.
For further information please contact:
+44 (0)7899 249990
+44 (0)20 7220 9796
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
For the six months ended
6 months to 31 Dec 6 months to 31 Dec Year ended 30 June
2018 Unaudited 2017 Unaudited 2018 Audited
£ £ £
Continuing operations
Revenue - - -
Administrative (63,484) (39,352) (100,183)
expenses
Loss before taxation (63,484) (39,352) (100,183)
Finance income – 56 3 7
interest receivable
Income tax - - -
Loss for the year (63,428) (39,349) (100,176)
attributable to the
equity shareholders of
the parent
Other comprehensive
income
Items that may be - - -
subsequently
reclassified to profit
or loss
Other comprehensive - -
income for the year,
net of tax
Total comprehensive (63,428) (39,349) (100,176)
income for the
period/year
attributable to the
equity shareholders of
the parent
Loss per share
Basic and diluted loss (0.20p) (0.128p) (0.32p)
per share attributable
to the equity
shareholders of the
parent (pence)
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
As at
As at As at As at 30 June 2018
31 Dec 2018 31 Dec 2017 Audited
Unaudited Unaudited
£ £ £
ASSETS
Total non-current assets - - -
Current assets
Trade and other receivables - 5,904 6,135
Cash and cash equivalents 69,630 37,370 20,206
Total current assets 69,630 43,274 26,341
TOTAL ASSETS 69,630 43,274 26,341
LIABILITIES
Current Liabilities
Trade and other payables 60,294 12,956 7,860
Borrowing 50,833 - -
Total current liabilities 111,127 12,956 7,860
TOTAL LIABILITIES 111,127 12,956 7,860
NET ASSETS (41,497) 30,318 18,481
EQUITY ATTRIBUTABLE TO OWNERS OF THE
COMPANY
Share capital 202,786 201,700 202,786
Share premium 876,297 855,588 876,297
Equity to be issued 30,715 - 27,265
Other reserve 1,600 1,670 1,600
Retained losses (1,152,895) (1,028,640) (1,089,467)
TOTAL EQUITY (41,497) 30,318 18,481
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
For the six months ended
Share Share Equity to be Other Retained Total Equity
capital premium issued reserves losses
£ £ £ £ £ £
At 1 July 201,700 855,658 - 1,600 (989,291) 69,667
2017
Loss for the - - - - (39,349) (39,349)
period
Other - - - - - -
comprehensive
income for
the period
Total - - - - (39,349) (39,349)
comprehensive
income for
the period
Issue of - (70) - 70 - -
share options
Balance at 31 201,700 855,588 - 1,670 (1,028,640) 30,318
December 2017
At 1 July 202,786 876,297 27,265 1,600 (1,089,467) 18,481
2018
Loss for the - - - - (63,428) (63,428)
period
Other - - - - - -
comprehensive
income for
the period
Total - - - - (63,428) (63,428)
comprehensive
income for
the period
Equity to be - - 3,450 - - -
issued
Balance at 31 202,786 876,297 30,715 1,600 (1,152,895) (41,497)
December 2018
CONSOLIDATED STATEMENT OF CASH FLOWS
For the six months ended
6 months to 31 Dec 6 months to 31 Dec Year ended 30 June
2018 2017 2018
Unaudited Unaudited Audited
£ £ £
Cash flows from (632) (35,306) (72,474)
operating activities
Net cash used in (632) (35,306) (72,474)
operating activities
Cash flows from
investing activities
Interest received 56 3 7
Proceeds from 50,000 - -
convertible note
issues
Cash flows generated 50,056 3 7
from investing
activities
Cash flows from
financing activities
Proceeds from issue of - - 20,000
shares
Cash Flows generated - - 20,000
from financing
activities
Net increase/ 49,424 (35,303) (52,467)
(decrease) in cash and
cash equivalents
Cash and cash 20,206 72,673 72,673
equivalents at
beginning of the
period
Cash and cash 69,630 37,370 20,206
equivalents at end of
the period
