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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Ipoint-Media | LSE:IPNT | London | Ordinary Share | GB00B1FJP363 | ORD 0.01P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.30 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From May 2019 to May 2024
TIDMAVP
RNS Number : 6245A
Armstrong Ventures PLC
30 September 2015
30 September 2015
ARMSTRONG VENTURES PLC
(AIM: AVP)
("Armstrong Ventures" or the "Company")
Unaudited Interim Results for the six month period ended 30 June 2015
Chairman's Statement
Armstrong Ventures is pleased to announce its interim results for the six month period ended 30 June 2015.
During the period under review there has been no operating activity and consequently the Company has not generated any revenue. Losses for the period were GBP148,064, an increase on the loss of GBP85,913 for the corresponding period last year. The loss per share for the period remained unchanged at (0.004p).
The increase in the loss reflects additional fees paid to the Company's former directors and certain other costs relating to the placing that was announced on 22 June 2015 and which completed on 17 July 2015.
Events following period end
On 17 July 2015 the Company raised approximately GBP2,000,000 net of expenses through a placing of shares. On that date the investing policy of the Company was changed to allow the Company to invest in the media, technology and healthcare sectors.
On 17 July 2015 Peter Redmond and Manish Kotecha resigned as directors. On 20 August 2015 it was announced that Haresh Kanabar had resigned as a director.
Following the placing on 17 July 2015 the board has continued to seek suitable investment opportunities. Such opportunities might include a reverse takeover of the Company. The board continues to believe that Armstrong Ventures is an attractive company for a business seeking to list on the AIM market whilst the Company also has the resources to invest in the media, technology and healthcare sectors.
Sean Nicolson
Chairman
30 September 2015
Enquiries:
Armstrong Ventures plc
Sean Nicolson 01993 880000
Cairn Financial Advisers LLP
Sandy Jamieson 0207 148 7900
Peterhouse Corporate Finance Limited
Eran Zucker, Lucy Williams 0207 469 0935
Unaudited Income Statement
For the six months ended 30 June 2015
Hot Features
Premium
Six months Six months
ended ended
Year ended
31 December
30 June 30 June 2014
2015 2014 (audited)
(unaudited) (unaudited)
GBP GBP GBP
Administrative expenses (148,064) (85,913) (184,079)
Operating loss (148,064) (85,913) (184,079)
Finance income - - -
Loss before income tax (148,064) (85,913) (184,079)
Tax on loss on ordinary activities - - -
------------- ------------- --------------
Net loss from ordinary activities (148,064) (85,913) (184,079)
============= ============= ==============
Basic and diluted earnings per share (0.004p) (0.004p) (0.008p)
============= ============= ==============
The results for the six months ended 30 June 2015 and 30 June 2014 have been prepared on the basis that all operations are continuing operations.
Unaudited Statement of Financial Position
As at 30 June 2015
As at As at As at 31
December
2014
30 June 30 June (audited)
2015 2014
(unaudited) (unaudited)
GBP GBP GBP
Assets
Current assets
Other receivables 5,625 5,445 19,315
Cash & cash equivalents 435,524 326,125 564,759
------------- ------------- ------------
441,149 331,570 584,074
Total assets 441,149 331,570 584,074
============= ============= ============
Equity and liabilities
Share capital and reserves
Issued capital 975,503 818,360 975,503
Share premium account 4,425,200 4,262,258 4,425,200
Share option reserve 30,550 - 30,550
Retained earnings (5,026,957) (4,780,727) (4,878,893)
Total equity 404,296 299,891 552,360
------------- ------------- ------------
Current liabilities
Trade & other payables 36,853 31,679 31,714
Total current liabilities 36,853 31,679 31,714
------------- ------------- ------------
Total equity and liabilities 441,149 331,570 584,074
============= ============= ============
Unaudited Statement of Cash Flows
For the six months ended 30 June 2015
Six months Six months
ended ended
30 June 30 June Year ended
31 December
2015 2014 2014
(unaudited) (unaudited) (audited)
GBP GBP GBP
Cash flows from operating activities
Loss before taxation (148,064) (85,913) (184,079)
Adjustments for:
Share based payment charge - - 30,550
Cash absorbed by operations (148,064) (85,913) (153,529)
Decrease/(increase) in trade and other
receivables 13,690 (3,076) (16,946)
Increase in trade and other payables 5,139 1,765 1,800
------------- ------------- -------------
Net cash outflow from operating activities (129,235) (87,224) (168,675)
------------- ------------- -------------
Cash flows from financing activities
Issue of shares - - 330,000
Share issue costs - - (9,915)
------------- ------------- -------------
Net cash inflow from financing activities - - 320,085
------------- ------------- -------------
Net (decrease)/increase in cash and cash
equivalents (129,235) (87,224) 151,410
Cash and cash equivalents brought forward 564,759 413,349 413,349
------------- ------------- -------------
Cash and cash equivalents carried forward 435,524 326,125 564,759
============= ============= =============
Unaudited Statement of Changes in Equity
For the six months ended 30 June 2015
Share
Share capital Share premium option Retained
reserve earnings Total
GBP GBP GBP GBP GBP
At 1 January 2014 818,360 4,262,258 - (4,694,814) 385,804
---------------- ---------------- --------- ------------ ----------
Loss for the period and
total
comprehensive expense - - - (85,913) (85,913)
---------------- ---------------- --------- ------------ ----------
At 30 June 2014 818,360 4,262,258 - (4,780,727) 299,891
---------------- ---------------- --------- ------------ ----------
Loss for the period and
total
comprehensive expense - - - (98,166) (98,166)
---------------- ---------------- --------- ------------ ----------
Share issue 157,143 162,942 - - 320,085
Grant of share options - - 30,550 - 30,550
At 31 December 2014 975,503 4,425,200 30,550 (4,878,893) 552,360
Loss for the period and
total
(MORE TO FOLLOW) Dow Jones Newswires
September 30, 2015 02:01 ET (06:01 GMT)
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