Hot Rocks Investmnts - Audited Final Results for y/e 31/3/22-Replacement

Announcement provided by

08/03/2023 10:24

RNS Number : 3069S

Hot Rocks Investments PLC

08 March 2023

The announcement released on 07/03/23 at 18:29 under RNS No 2112S has been re-released to facilitate onward transmission by third party vendors.

The announcement is unchanged and is reproduced in full below.

7 March 2023

HOT ROCKS INVESTMENTS PLC

Audited Final Results for year ended 31 March 2022

CHAIRMAN'S STATEMENT

Dear Shareholders,

I hereby present the financial results for the Company for the year ended 31 March 2022. The Company is an active investor primarily in junior natural resources companies.

The Company made a profit for the year of £118,905, compared to a loss of £38,734 in the prior year. The Company will not be paying a dividend at this stage (2021: £Nil) as we seek to reinvest all profits in opportunities with the potential for significant capital growth.

Cash and cash equivalents as at the year end of 31 March 2022 were £36,008 (2021: £109,546).

We have continued to build and nurture our investment portfolio and we are generally pleased with performance. We remain excited about the potential listing on NASDAQ of Elephant Oil Corp at a price of $4-$5 per share where we hold 659,091 shares and Mosi Copper Limited, an Africa-focused copper exploration company where we are a founder shareholder and which we plan to float on a stock exchange when markets permit. In addition, Pilar Gold Inc plans to seek a listing in the near term.

We now hold stakes in the following entities:

· Aqru plc (AQUIS: AQRU)

· Elephant Oil Corp

· Impact Oil & Gas Limited

· Mafula Energy Limited

· MedGold Resources Corp (TSXV:MED)

· Minergy Limited (Botswana SX)

· Mosi Copper Limited

· New Horizon Oil & Gas Limited (trading as T5)

· NFT Investments plc (AQUIS:NFT)

· Pilar Gold Inc

· Roquefort Therapeutics Limited (LSE:ROQ)

· Royal Road Minerals Limited (TSXV:RYR)

· Trigon Metals Inc (TSXV:TM)

The Board of Directors will continue to introduce further equity positions to the Company to enable additional diversification of the portfolio.

Brian Rowbotham

Non-Executive Chairman

For further details please contact:

Hot Rocks Investments plc

Gavin Burnell Tel: 0207 2644 546

Optiva Securities Limited

Daniel Ingram Tel: 0203 981 4178

HOT ROCKS INVESTMENTS PLC

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 MARCH 2022

Notes

2022

2021

Continuing Operations

Revenue

Operating expenses

(65,878)

(65,290)

Other (loss)/profit - sale of financial assets at fair value through profit and loss account

(17,831)

228,857

Movement in fair value of financial assets through profit

and loss

202,614

(202,302)

──────────

OPERATING PROFIT/(LOSS)

118,905

(38,735)

Finance income

─────────

PROFIT/(LOSS) BEFORE INCOME TAX

118,905

(38,734)

Income tax 6

─────────

PROFIT/(LOSS) AFTER INCOME TAX

118,905

(38,734)

══════════

Other Comprehensive Income

Items that may be reclassified subsequently to profit or loss

Fair value change in value on available-for-sale financial assets

─────────

Total Comprehensive income/(loss) for the year

118,905

(38,734)

══════════

HOT ROCKS INVESTMENTS PLC

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MARCH 2022


	Issued capital	Share premium	Other reserves	Retained earnings	Total equity
	£	£	£	£	£
Balance at 1 April 2021	173,602	1,174,631	115,600	(740,555)	723,278
Profit for the year	-	-	-	118,905	118,905
	──────────	─────────────	──────────	──────────	──────────
	173,602	1,174,631	115,600	(621,650)	842,183

	══════════	═════════════	══════════	══════════	══════════


	Issued capital	Share premium	Other reserves	Retained earnings	Total equity
	£	£	£	£	£
Balance at 1 April 2020	173,602	1,174,631	115,600	(701,821)	762,012
Loss for the year	-	-	-	(38,734)	(38,734)
	──────────	─────────────	──────────	──────────	──────────
	173,602	1,174,631	115,600	(740,555)	723,278

	══════════	═════════════	══════════	══════════	══════════

HOT ROCKS INVESTMENTS PLC

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2022

Notes			2022	2021
			£	£
ASSETS

	NON-CURRENT ASSETS

		Financial assets designated as fair value through profit or loss	389,529	239,719

	CURRENT ASSETS

		Financial assets designated as fair value through profit or loss	621,941	559,583
		Trade and other receivables	40,306	25,595
		Cash and cash equivalents	36,008	109,546
			──────────	──────────
			698,255	694,724
			──────────	──────────
	TOTAL ASSETS		1,087,784	934,443
			══════════	══════════

EQUITY

	ISSUED CAPITAL AND RESERVES

		Issued share capital	173,602	173,602
		Share premium	1,174,631	1,174,631
		Reserves	115,600	115,600
		Retained loss	(621,650)	(740,555)
			─────────────	─────────────
		TOTAL EQUITY	842,183	723,278

CURRENT LIABILITIES

	Trade and other payables		245,601	211,165
			──────────	──────────

TOTAL EQUITY AND LIABILITIES			1,087,784	934,443
			══════════	══════════

HOT ROCKS INVESTMENTS PLC

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2022

			2022	2021
			£	£
CASH FLOWS FROM OPERATING ACTIVITIES

		Total operating profit /(loss)	118,905	(38,734)

	ADJUSTMENTS TO RECONCILE TO PROFIT FROM OPERATIONS

		Finance income	-	(1)
			─────────	─────────
	ADJUSTMENTS TO RECONCILE PROFIT FROM OPERATIONS		118,905	(38,735)

	INCREASE IN WORKING CAPITAL

		Loss/(gain) on disposal of financial assets held through profit and loss	17,831	(228,857)
		Movement in fair value of financial assets through profit and loss	(202,614)	202,302
		(Increase) in trade and other receivables	(14,714)	(25,595)
		Return of capital	-	12,339
		Increase in trade and other payables	34,436	40,195
			─────────	──────────
	(DECREASE)/INCREASE IN WORKING CAPITAL		(165,061)	384
			──────────	──────────
	CASH FLOWS FROM OPERATING ACTIVITIES		(46,156)	(38,351)

CASH FLOWS FROM INVESTING ACTIVITIES

		Purchases of financial assets through profit and loss	(208,361)	(285,136)
		Proceeds from disposal of financial assets through profit and loss	180,979	413,165
			──────────	─────────
	NET CASH FLOWS FROM INVESTING ACTIVITIES		(27,382)	128,029
			──────────	─────────
	NET CASH FLOWS FROM INVESTING ACTIVITIES		(73,538)	89,678


		Cash and cash equivalents as at 1 April 2021	109,546	19,868

			──────────	─────────
CASH AND CASH EQUIVALENTS AS AT 31 MARCH 2022			36,008	109,546
			══════════	═════════

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