We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Netcapital Inc | NASDAQ:NCPL | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.0461 | -24.92% | 0.1389 | 0.1385 | 0.139 | 0.1797 | 0.1314 | 0.1797 | 10,660,588 | 00:59:55 |
Conference call to be held tomorrow, December 13, 2022, at 10:00 a.m. ET
Netcapital Inc. (Nasdaq: NCPL, NCPLW) (the “Company”), a digital private capital markets ecosystem, today announced financial results for the second quarter and first six months of fiscal year 2023 ended October 31, 2022.
“Continuing strong business trends fueled our growth across multiple financial and operating measures in the second quarter,” commented Cecilia Lenk, CEO of Netcapital Inc. “Our portfolio companies continued to perform well, and portal activity both from private companies seeking capital and private investors funding innovation remains solid. We look forward to similar trends in the second half of our fiscal year 2023.”
Jason Frishman, CEO of Netcapital Funding Portal Inc., commented, “We have hosted many exciting and lucrative offerings over the past six months and will continue to feature inspiring success stories by our clients in our communications to Netcapital stakeholders. The key purpose of our business is to mentor and support entrepreneurs in their journeys. It’s rewarding to see the benefits of our services as these startups build, expand, and prosper.”
Second Quarter Fiscal 2023 Financial Highlights
First Half Fiscal 2023 Highlights
For additional disclosure regarding Netcapital’s operating results, please refer to the Quarterly Report on Form 10-Q for the period ended October 31, 2022, which has been filed with the Securities and Exchange Commission.
Conference Call Information
The Company will host an investor conference call tomorrow, December 13, 2022, at 10:00 a.m. ET.
Participant access: 844-985-2012 or 973-528-0138 Conference entry code: 914548
For those unable to participate in the live call, a replay will be made available in the Investors section of the company’s website.
About Netcapital Inc.
Netcapital Inc. is a fintech company with a scalable technology platform that allows private companies to raise capital online and provides private equity investment opportunities to investors. The company's consulting group, Netcapital Advisors, provides marketing and strategic advice and takes equity positions in select companies with disruptive technologies. The Netcapital funding portal is registered with the U.S. Securities & Exchange Commission (SEC) and is a member of the Financial Industry Regulatory Authority (FINRA), a registered national securities association.
NETCAPITAL INC. CONDENSED CONSOLIDATED BALANCE SHEETS
Assets:
October 31, 2022 (Unaudited)
April 30, 2022 (Audited)
Cash and cash equivalents
$
1,565,242
$
473,925
Related party receivable
668
668
Accounts receivable net
2,269,800
2,433,900
Other receivables
16,604
—
Prepaid expenses
39,236
5,694
Total current assets
3,891,550
2,914,187
Deposits
6,300
6,300
Notes receivable – related parties
202,000
202,000
Purchased technology, net
15,494,542
15,536,704
Investment in affiliate
240,080
240,080
Equity securities at fair value
15,112,601
12,861,253
Total assets
$
34,947,073
$
31,760,524
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable
Trade
$
451,903
$
536,508
Related party
75,204
378,077
Accrued expenses
250,179
229,867
Stock subscription payable
10,000
33,400
Deferred revenue
660
2,532
Interest payable
270,083
222,295
Deferred tax liability, net
779,000
977,000
Related party debt
19,660
22,860
Secured note payable
400,000
1,400,000
Current portion of SBA loans
1,896,737
1,890,727
Loan payable - bank
34,324
34,324
Convertible notes payable
—
300,000
Total current liabilities
4,187,750
6,027,590
Long-term liabilities:
Long-term SBA loans, less current portion
489,063
495,073
Total liabilities
4,676,813
6,522,663
Commitments and contingencies
—
—
Stockholders' equity:
Common stock, $.001 par value; 900,000,000 shares authorized, 4,312,777 and 2,934,344 shares issued and outstanding
4,313
2,934
Shares to be issued
244,250
244,250
Capital in excess of par value
27,263,174
22,479,769
Retained earnings
2,758,523
2,510,908
Total stockholders' equity
30,270,260
25,237,861
Total liabilities and stockholders' equity
$
34,947,073
$
31,760,524
NETCAPITAL INC. CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
Three Months Ended
Three Months Ended
Six Months Ended
Six Months Ended
October 31, 2022
October 31, 2021
October 31, 2022
October 31, 2021
Revenues
$
1,778,973
$
1,199,822
$
3,119,546
$
1,825,009
Costs of services
36,235
17,775
57,298
46,080
Gross profit
1,742,738
1,182,047
3,062,248
1,778,929
Costs and expenses:
Consulting expense
199,781
183,030
325,392
365,635
Marketing
32,882
22,000
40,662
43,826
Rent
17,187
10,481
34,399
22,611
Payroll and payroll related expenses
876,908
730,296
1,646,848
1,791,655
General and administrative costs
280,815
561,370
673,112
956,422
Total costs and expenses
1,407,573
1,507,177
2,720,413
3,180,149
Operating income (loss)
335,165
(325,130
)
341,835
(1,401,220
)
Other income (expense):
Interest expense
(22,978
)
(35,026
)
(59,290
)
(70,271
)
Gain on debt conversion
—
—
224,260
—
Amortization of intangible assets
(21,081
)
—
(42,162
)
—
Realized loss on sale of investment
—
—
(406,060
)
—
Unrealized gain (loss) on equity securities
(8,968
)
—
(8,968
)
3,275,745
Total other income (expense)
(53,027
)
(35,026
)
(292,220
)
3,205,474
Net income (loss) before taxes
282,138
(360,156
)
49,615
1,804,254
Income tax expense (benefit)
99,000
(86,000
)
(198,000
)
621,000
Net income
$
183,138
$
(274,156
)
$
247,615
$
1,183,254
Basic earnings (loss) per share
$
0.04
$
(0.10
)
$
0.07
$
0.48
Diluted earnings (loss) per share
$
0.04
$
(0.10
)
$
0.07
$
0.47
Weighted average number of common shares outstanding:
Basic
4,289,802
2,718,383
3,729,174
2,462,251
Diluted
4,290,052
2,718,383
3,729,424
2,497,808
The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221212005786/en/
Investor Contact
800-460-0815 ir@netcapital.com
1 Year Netcapital Chart |
1 Month Netcapital Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions