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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Tecteon | LSE:TEO | London | Ordinary Share | GB0000530716 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.55 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:5503K Tecteon PLC 21 December 2007 Tecteon Plc ("Tecteon" or "the Company") (AIM:TEO) Preliminary Results for the Year ended 30 June 2007 Tecteon, the software developer for the voice quality and telecommunications markets, provide an update on the proposed new activity of base metal processing and trading announces its Results for the Year ended 30 June 2007. EXECUTIVE DIRECTOR'S REVIEW New activity - Joint Venture We announced the agreement to enter into a joint venture with Zamcu to trade in base metals, copper, zinc and lead. We are pleased to confirm that the terms of the joint venture have been agreed and a formal agreement will be signed after the new activity has been approved by the Company's shareholders. Voice quality market Our negotiations with Qstik and Clement Clark International group were ceased as it was apparent from the available information that the proposed arrangements were not in the interests of the Company. We are pursuing amounts receivable from Clement Clark by legal means. The directors continue to monitor the outcome of the marketing and sales of the technology. Results for the year For the year ended 30 June 2007, the company turnover was £28,506 compared with £835,956 for the same period in prior year. The loss for the year amounted to £1,884,653 compared with a profit of £290,821 for the prior year. The overheads include provision against receivables of £573,447 (2006:£nil) and amortisation of intangible assets of £610,048 M A Alikhani 21 December 2007 Executive Director For further information please contact: Tecteon PLC Tel: 020 7408 1181 Masoud Alikhani, Executive Director TECTEON PLC PROFIT AND LOSS ACCOUNT for the year ended 30 June 2007 2007 2006 £ £ TURNOVER - continuing operations 28,506 835,956 28,506 835,956 Other cost of sales - (22,727) GROSS PROFIT (LOSS) 28,506 813,229 Administrative expenses - continuing operations (1,926,247) (1,393,837) OPERATING LOSS (1,897,741) (580,608) Interest receivable and 1,939 5,311 similar income Interest payable and similar (3,351) (29,740) charges Other income 14,500 - -------- -------- LOSS ON ORDINARY ACTIVITIES (1,884,653) (605,037) Profit on sale of subsidiary - 895,858 (LOSS)/PROFIT ON ORDINARY ACTIVITIES (1,884,654) 290,821 BEFORE TAXATION Tax on profit on ordinary - - activities (LOSS)/PROFIT ON ORDINARY ACTIVITIES AFTER TAXATION -------- -------- (1,884,654) 290,821 -------- -------- (LOSS)/PROFIT FOR THE (1,884,654) 290,821 FINANCIAL YEAR -------- -------- -------- (Loss)/Profit per - (0.83)p 0.14p ordinary share Basic - (0.70)p 0.12p Diluted -------- -------- -------- -------- All recognised gains and losses have been included in the profit and loss account. All of the activities are continuing. TECTEON PLC BALANCE SHEET as at 30 June 2007 2007 2006 £ £ FIXED ASSETS Intangible assets 1,892,623 2,502,670 Tangible fixed assets 30,373 83,799 -------- -------- 1,922,996 2,586,469 -------- -------- CURRENT ASSETS Debtors 117,444 679,689 Cash at bank and in hand 83 320,056 -------- -------- 117,527 999,745 CREDITORS: amounts falling within one year (874,455) (535,493) -------- -------- NET CURRENT (LIABILITIES)/ASSETS (756,928) 464,252 -------- -------- TOTAL ASSETS LESS CURRENT LIABILITIES 1,166,068 3,050,721 ======== ======== CAPITAL AND RESERVES Called up share capital 9,709,771 9,709,771 Share premium account 2,705,939 2,705,939 Merger reserve 1,824,000 1,824,000 Exchange reserve - - Profit and loss account (13,073,642) (11,188,989) -------- -------- SHAREHOLDERS' FUNDS 1,166,068 3,050,721 ======== ======== Non-equity shareholders' funds 195,799 195,799 Equity shareholders' funds 970,269 2,854,922 -------- -------- 1,166,068 3,050,721 ======== ======== TECTEON PLC CASH FLOW STATEMENT for the year ended 30 June 2007 2007 2006 £ £ NET CASH (OUTFLOW) INFLOW FROM OPERATING ACTIVITIES (333,195) (1,828,758) -------- -------- RETURNS ON INVESTMENTS AND SERVICING OF FINANCE Interest received 1,939 5,733 Interest paid (3,351) (29,740) Other income 14,500 - -------- -------- NET CASH (OUTFLOW) FROM RETURNS 13,088 (24,007) ON INVESTMENTS AND SERVICING OF FINANCE -------- -------- CAPITAL EXPENDITURE AND FINANCIAL INVESTMENT Purchase of intangible fixed assets - (509,972) Purchase of tangible fixed assets (866) (64,208) -------- -------- NET CASH OUTFLOW FOR EXPENDITURE (866) (574,180) -------- -------- AND FINANCIAL INVESTMENTS CASH OUTFLOW BEFORE FINANCING (319,973) (2,426,945) -------- -------- FINANCING Issue of ordinary shares and share premium - 972,101 Sale of investment in subsidiary - 1,661,539 -------- -------- NET CASH INFLOW FROM FINANCING - 2,633,640 -------- -------- (DECREASE)/INCREASE IN CASH (319,973) 206,695 ======== ======== RECONCILIATION OF NET CASH FLOW TO MOVEMENT IN NET DEBT £ £ (DECREASE)/INCREASE IN CASH (319,973) 206,695 -------- -------- Movement in net debt during the year (319,973) 206,695 Funds at 1 July 2006 320,056 113,361 -------- -------- NET FUNDS AT 30 JUNE 2007 83 320,056 ======== ======== Notes to the Preliminary Statement: 1. The financial information set out above does not constitute the Company's statutory accounts for the year ended 30 June 2007 or the Group's statutory accounts for the year ended 30 June 2006 but is derived from these accounts. Statutory accounts for 2006 have been delivered to the Registrar of Companies in England and Wales, and those for 2007 will be delivered following the Company's annual general meeting. The auditors have reported on the 2006 accounts; their report was unqualified and did not contain statements under section 237 (2) or (3) of the Companies Act 1985. 2. The figures included in this preliminary announcement have been prepared on the basis of the accounting policies set out in the 30 June 2006 financial statements. 3. (LOSS)/PROFIT PER ORDINARY SHARE The (loss) per share of 0.83 pence (2006: profit 0.14 pence) has been calculated on the basis of the loss of £1,884,654 (2006: profit £290,821) and on 225,882,097 (2006: 209,282,041) ordinary shares, being the weighted average number of ordinary shares in issue during the year ended 30 June 2007. 4. Copies of the published accounts of the Company will shortly be sent to all shareholders and will be available during normal business hours from the offices of Seymour Pierce Limited at 20 Old Bailey, London EC4M 7EN. In addition, the accounts will be available to be downloaded from the Company's website at www.tecteon.com.. This information is provided by RNS The company news service from the London Stock Exchange END FR ILFLEFDLLFID
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