Imperial X Plc - Unaudited interims to 31 December 2019 PR Newswire

Imperial X Plc

("Imperial" or the "Company")

Unaudited interim report for the six months to 31 December 2019

Dear Shareholder,

I am pleased present the unaudited financial results for Imperial X Plc for the half-year ended 31 December 2019.

During the period and with a newly formed Board of Directors, Imperial raised £346,776 by way of a subscription for new equity at 2.5p per share.  Following the end of the period under review the shareholders approved a new investing strategy for the Company; to become a company focused on acquiring royalties in the oil and gas sector.

Imperial continues to be run leanly with administration expenses keep as low as possible, however to stay listed and continue to operate in 2020, Imperial will need to seek additional capital to continue its existence. The directors believe that the strategy of the Company will be well supported and that it will have success in raising future capital. Cash at bank at the end of December 2019 was £179,314 (30 June 2019: £1,332).

Financial Position

The interim results have not been reviewed by the Company’s auditor.

The Group’s Statement of Financial Position as at 31 December 2019 and comparatives at 31 December 2018 and 30 June 2019 are summarized below:


                    31 Dec 2019 31 Dec 2018 30 June 2019
                              £           £            £

Current assets          209,348      69,630        7,667

Total assets            209,348      69,630        7,667

Current liabilities     129,743     111,127      134,272

Total liabilities       129,743     111,127      132,272

Net assets               79,605    (41,497)    (126,605)



Kyler Hardy

Chief Executive Officer

Imperial X Plc April 7, 2020

The Directors of the Company accept responsibility for the contents of this announcement.

For further information please contact:

Imperial X Plc

Melissa Sturgess

+44 (0)7825 551 397

Peterhouse Capital Limited

Guy Miller

+44 (0)20 7220 9796

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME For the six months ended 31 December 2019


                        6 months to 31 Dec 6 months to 31 Dec 2018 Year ended 30
                         2019 Unaudited           Unaudited          June 2019
                                £                     £               Audited
                                                                         £

Continuing operations                    -                       -             -
Revenue

Administrative                   (191,891)                (63,484)     (309,248)
expenses

Loss before taxation             (191,891)                (63,484)     (309,248)

Finance income –                         -                      56            59
interest receivable

Income tax                               -                       -             -

Loss for the year
attributable to the
equity

shareholders of the              (191,891)                (63,428)     (309,189)
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              (191,891)                (63,428)     (309,189)
income for the
period/year
attributable to the
equity shareholders of
the parent

Loss per share

Basic and diluted loss             (0.47p)                 (0.20p)       (0.97p)
per share attributable
to the equity
shareholders of the
parent (pence)



CONSOLIDATED STATEMENT OF FINANCIAL POSITION

 As at 31 December 2019


        As at                  As at             As at
31 Dec 2019 Unaudited  31 Dec 2018 Unaudited  30 June 2019
                                                Audited



   


                                             £           £           £

ASSETS                                            -           -           -
Total non-current assets Current assets

Trade and other receivables                  30,034           -       6,335

Cash and cash equivalents                   179,314      69,630       1,332

Total current assets                        209,348      69,630       7,667

TOTAL ASSETS                                209,348      69,630       7,667

LIABILITIES

Current Liabilities

Trade and other payables                    129,743      60,294     134,272

Borrowing                                         -      50,833           -

Total current liabilities                   129,743     111,127     134,272

TOTAL LIABILITIES                           129,743     111,127     134,272

NET ASSETS                                   79,605    (41,497)   (126,605)

EQUITY ATTRIBUTABLE TO OWNERS

OF THE COMPANY

Share capital                               221,703     202,786     202,786

Share premium                             1,258,931     876,297     876,297

Equity to be issued                          27,765      30,715      31,215

Other reserve                               161,753       1,600     161,753

Retained losses                         (1,590,547) (1,152,895) (1,398,656)

TOTAL EQUITY                                 79,605    (41,497)   (126,605)



CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

For the six months ended 31 December 2019


                       Share    Share   Equity to  Other    Retained     Total
                      capital  premium  be issued reserves   losses     Equity
                         £        £         £        £          £          £

At 1 July 2018        202,786   876,297    27,265    1,600 (1,089,467)    18,481

Loss for the period         -         -         -        -    (63,428)  (63,428)

Other comprehensive         -         -         -        -           -         -
income for the period

Total comprehensive         -         -         -        -    (63,428)  (63,428)
income for the period

Issue of share              -         -     3,450        -           -     3,450
options

Balance at 31         202,786   876,297    30,715    1,670 (1,152,895)  (41,497)
December 2018

At 1 July 2019        202,786   876,297    31,215  161,753 (1,398,656) (126,605)

Loss for the period         -         -         -        -   (191,891) (191,891)

Other comprehensive         -         -         -        -           -         -
income for the period

Total comprehensive         -         -         -        -   (191,891) (191,891)
income for the period

Issue of ordinary &    18,917   382,634                                  401,551
deferred shares

Equity to be issued         -         -   (3,450)        -           -   (3,450)

Balance at 31         221,703 1,258,931    27,765  161,753 (1,590,547)    79,605
December 2019



CONSOLIDATED STATEMENT OF CASH FLOWS

 For the six months ended 31 December 2019


                6 months to                          6 months to    Year
           31 Dec 2019 Unaudited                     31 Dec 2018    ended
                                                      Unaudited    30 June
                                                                    2019
                                                                   Audited

                                               £           £          £

Cash flows from operating activities       (223,569)         (632) (68,925)

Net cash used in operating activities      (223,569)         (632) (68,925)

Cash flows from investing activities

Interest received                                  -            56       51

Proceeds from convertible note issues              -        50,000        -

Cash flows generated from investing

activities                                         -        50,056       51

Cash flows from financing activities

Proceeds from issue of shares                401,551             -   50,000

Cash Flows generated from financing

activities                                   401,551             -   50,000

Net increase/(decrease) in cash and cash

equivalents                                  177,982      (49,424) (18,874)

Cash and cash equivalents at beginning of

the period                                     1,332        20,206   20,206

Cash and cash equivalents at end of the

period                                       179,314        69,630    1,332