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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Pcg Entertainment Plc | LSE:PCGE | London | Ordinary Share | GI000A2JBQ88 | ORD 0.1P (DI) |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.05 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMPCGE
RNS Number : 0195Z
PCG Entertainment plc
12 December 2017
12 December 2017
PCG Entertainment Plc
("PCGE", the "Company" or the "Group")
PCG Entertainment Plc / Index: AIM / Epic: PCGE
PCG Entertainment Plc (AIM: PCGE), the AIM quoted Asia-Pacific online gaming and media company, today announces its interim results for the six months ended 30 September 2017.
A summary of the interim report and accounts is set out below. The full report and accounts are available to view on the Company's website at www.pcge.com
Chairman's Statement
Following our change of year-end from December to March, we are now announcing our interim results for the six-month period ending 30 September 2017 (the "Period"). During the Period the Company has continued to operate its media license in China. I am also pleased to report that the gambling license from the Kahnawake Gaming Commission has been renewed for a further year. We continue to examine potential additional deals for the Company across geographies and sectors.
The Company is currently in discussions with its former CEO in an attempt to settle his employment tribunal action. As always, we will update shareholders as soon as we are able to do so on all PCGE's initiatives.
During the Period, the Company had a net loss of US$588,332. The comparisons set out below are with the interim results for the half-year to 30 June 2016, together with the results for the year ended 31 March 2017.
Richard Poulden
Chairman
Interim Results' Highlights include:
Hot Features
Premium
1 Group cash balances at 30 September 2017 of US$1,969,336 (30 June 2016: US$60,502
2 The loss for the Group for the 6 months to 30 September 2017 was US$588,332 (30 June 2016: loss
of US$745,766)
For further information:
PCG Entertainment Plc
Richard Poulden, Chairman Tel: +44 20 7812
0645
Allenby Capital
Nick Naylor / Nick Harriss Tel: +44 20 3328
5656
Beaufort Securities
Elliot Hance Tel: +44 20 7382
8300
Damson Communications
Abigail Stuart-Menteth/Amelia Tel: +44 20 7812
Hubert 0645
Consolidated Income Statement
for the six months ended 30 September 2017
Unaudited Unaudited Audited
Six months Six months Year ended
ended ended 31 March
30 September 30 June 2017
2017 2016
Notes US$ US$ US$
- 8,616,129 -
Revenue
Cost of sales - (4,783,802) -
--------------- ------------------ -----------------------
Gross profit - 3,832,327 -
Administrative expenses (678,722) (4,320,819) (5,926,477)
Other operating
income - - 48,868
Operating loss (678,722) (488,492) (5,877,609)
Foreign exchange
loss (26,270) (248,274) (19,525)
Interest payable - (9,000) (33)
Loss on ordinary
activities before
taxation (704,991) (745,766) (5,897,167)
Tax on loss on ordinary - - -
activities
Loss for the financial
period from continuing
activities (704,991) (745,766) (5,897,167)
(Loss)/profit for
the period from
discontinued operations - - (8,348,897)
Retained loss for
the period (704,991) (745,766) (14,246,064)
--------------- ------------------ -----------------------
Change in foreign
currency 116,660 - 45,297
Total comprehensive
loss for the financial
period (588,332) (745,766) (14,200,767)
--------------- ------------------ -----------------------
Consolidated Statement
of Financial Position
as at 30 September 2017
Unaudited Unaudited Audited
30 September 30 June 31 March
Notes 2017 2016 2017
US$ US$ US$
ASSETS:
Current assets
Trade and other
receivables - 2,717,315 427,260
Cash and cash equivalents 1,969,336 60,502 1,287,964
---------------- ----------------- ---------------
1,969,336 2,777,817 1,715,224
---------------- ----------------- ---------------
Non-current assets 12,305,000
Equity Share Account 676,578
Intangible assets - 11,310,000 25,000
Property, plant
and equipment - 1,836 700
---------------- ----------------- ---------------
676,578 11,311,836 25,700
---------------- ----------------- ---------------
Total assets 2,645914 14,089,653 1,740,924
---------------- ----------------- ---------------
LIABILITIES AND
EQUITY:
Current liabilities 1,055,772 1,428,913 1,424,272
Non-current liabilities - - -
Equity
Share capital 4,908,503 2,108,394 3,101,735
Share premium 24,487,537 24,277,686 24,487,537
Share based payment
reserve 309,408 309,408 309,408
Foreign currency
translation reserve 125,831 117,759 70,777
Retained earnings (28,241,137) (14,152,507) (27,652,805)
---------------- ----------------- ---------------
1,590,143 12,660,740 316,652
---------------- ----------------- ---------------
Total liabilities
and equity 2,645,914 14,089,653 1,740,924
================ ================= ===============
Consolidated Statement of Cash Flows
for the six months ended 30 September 2017
Unaudited Unaudited Audited
Six months Six months Year ended
ended ended 31 March
30 September 30 June 2017
2017 2016
US$ US$ US$
Cash flows from operating
activities
Operating loss (562,632) (745,766) (14,246,064)
Reconciliation to
cash generation from
operations:
Amortisation - 995,000 -
Interest expense - 9,000 -
Decrease / (increase)
in receivables 427,260 449,784 548,544
(Decrease) / increase
in payables (368,500) (1,002,654) (400,008)
Depreciation - 386 1,403
Loss and disposal
of assets - - 9,721,870
Impairment of intangibles - - 3,500,000
Exchange rates
differences - - 21,140
Decrease/(Increase)
in Equity Share (676,578) - -
Account
Shares issued in
lieu of amounts
payable - - 24,577
-------------- ------------ -------------
Cash absorbed in
operations (1,180,450) (294,250) (828,538)
-------------- ------------ -------------
Cash flows from investing
activities
Net proceeds from
disposal of subsidiaries - - 505,856
-------------- ------------ -------------
Net cash flow from
investing activities - - 505,856
-------------- ------------ -------------
Cash flows from financing
activities
Issue of shares for
cash 1,806,768 - 1,469,103
Share issue expenses
capitalised against
share premium account - - (145,206)
Net cash flow from
financing activities 1,806,768 - 1,323,897
-------------- ------------ -------------
Net increase/(decrease)
in cash 626,318 (294,250) 1,001,215
Effect of exchange
rates on cash and
cash equivalents 55,054 92,279 24,276
-------------- ------------ -------------
681,372 (201,971) 1,025,491
Cash at bank and
in hand at the start
of the period 1,287,964 262,473 262,473
-------------- ------------ -------------
Cash at bank and
in hand at end of
the period 1,969,336 60,502 1,287,964
-------------- ------------ -------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
IR FFSFWFFWSEIE
(END) Dow Jones Newswires
December 12, 2017 02:00 ET (07:00 GMT)
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