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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Vox Valor Capital Limited | LSE:VOX | London | Ordinary Share | KYG9507A1094 | ORD 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% | 0.20 | 0.10 | 0.30 | 0.20 | 0.14 | 0.20 | 0.00 | 08:00:29 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Finance Services | 13.83M | -3.15M | -0.0013 | -1.54 | 4.74M |
From May 2023 to May 2024
TIDMVOX
RNS Number : 0790O
Vox Valor Capital Limited
29 September 2023
29 September 2023
Vox Valor Capital Limited
("Vox Valor" or the "Company")
Interim Results for the six months ended 30 June 2023
Vox Valor (LSE: VOX) , is pleased to announce its unaudited interim financial statements for the six months ended 30 June 2023.
For additional information please contact:
Konstantin Khomyakov
Tel: +1 (345) 949-4544
Email: ir@voxvalor.com
Novum Securities Limited
David Coffman / George Duxberry
Tel: +44 (0)207 399 9400
About Vox Valor Capital Limited
Vox Valor Capital Limited is the holding company for Vox Capital Limited and its subsidiary companies (together the "Vox Group"). The Vox Group has a focus on making acquisitions of majority stakes in the marketing technology, digital content, mobile games/apps and digital marketing sector. Digital marketing technology and services and digital content/mobile games are large and fast-growing industries. The Vox Group's management team has a successful track record of operating, financing, and exiting businesses in this sector and has a network in this sector which generates a steady flow of leads and introductions to potential acquisition candidates. The Vox Group will target the acquisition of privately held businesses that can benefit from the access to liquidity and international scaling expertise that the Vox Group and its management team can provide.
Interim Management Report
Vox Valor Capital Limited ("Vox Valor" or the "Company") is pleased to announce that its interim financial statements for the period ended 30 June 2023 have been published and are available on its website at www.voxvalor.com/investors .
We are very pleased to report a strong increase in revenues and the group achieving a modest operating profit. For the current financial year, we are looking forward to growing Vox Valor both organically and through potential acquisitions.
Summary of Trading Results
The main management focus in the reporting period was on improving the financial performance.
For the financial period ended 30 June 2023, Vox Valor reported revenue of USD 1.8 million (versus USD 3.4m in the previous comparable period). The main reason for the revenue decrease is that 2022 numbers included revenue from Mobile Marketing LLC, the Russian subsidiary which was sold on 2 August 2022.
Revenue was principally generated in Mobio Global UK with sales of USD 1.767k compared to USD 606k in the first half of 2022. Russian revenue reduced to zero in 2023 having been the most significant revenue in 2022 at USD 2.6m.
Operating expenses decreased at a faster pace to USD 1.789 million for the 6 month period ended 30 June 2023 from USD 3.9 million in the previous period representing the efforts of management to become operationally profitable.
Gross margin for the first half of 2023 was USD 639k (36%) compared to 56k (2%) in the first half of 2022).
Vox Valor achieved an operational profit of USD 13k (versus USD 542k loss in the previous period).
Total comprehensive income for the 6 month period ended 30 June 2023 was a profit of USD 179k (versus a loss of USD 2.6m in the previous comparable period).
Corporate Update
On 2 November 2022, the Company announced the opening of Mobio's US offices and the Company has focused on growing its client base in the United Kingdom, the United States and Europe to offset the revenue loss that resulted from the sale of Mobile Marketing LLC on 2 August 2022.
Mobio is making steady progress in gaining new clients for Mobio Global Limited (UK). Mobio Singapore Pte Ltd (Singapore) and Mobio Inc (US) and these efforts are continuing through the remainder of the current financial year.
As announced with the publication of the 2022 financial statements, the Company had signed two non-binding and conditional term sheets for the acquisition of two mobile game and app businesses. The term sheets were subject to further due diligence, board approvals, final legal documentation and in one case subject to financing. The Company is no longer in discussions with either party.
The Company is continuing its search for suitable complimentary mobile game or app (content) businesses as well as complimentary advertising tech and marketing tech businesses, in order to execute on its strategy of creating a synergetic mobile content and ad tech / marketing powerhouse. Further announcements on potential merger and acquisition transactions will be made as and when term sheets or legal binding agreements have been entered into.
Outlook
Looking forward to the current global situation, the rising interest rates and inflation rates tends to have an adverse impact on the price of services provided.
The Board remains cautiously optimistic and continues to evaluate opportunities for generating value for shareholders.
Going Concern
The day to day working capital requirements and investment objectives is met by existing cash resources and the issue of equity. At 30 June 2023 the Group had cash balance of USD 80k (911K USD as of 31 December 2022). The Group's forecasts and projections, taking into account reasonably possible changes in the level of overhead costs, show that the company should be able to operate within its available cash resources. The directors have, at the time of approving the interim financial statements, a reasonable expectation that the Group has adequate resources to continue in existence for the foreseeable future. They therefore continue to adopt the going concern basis of accounting in preparing the financial statements.
Interim Financial Information
The half-yearly financial report has not been audited or reviewed by auditors pursuant to the Financial Reporting Council guidance on Review of Interim Financial Information.
Post-Period Events
No significant events occurred after reporting date.
Principal Risks and Uncertainties
Taking considered risk is the essence of all business and investment activity, in relation to risk the Company's main objective is to minimise the chance of a material adverse outcome arising from causes which could reasonably have been foreseen, this includes both 'upside' (opportunity) and 'downside' (threat) risks.
The principal risks that are specific to the Group are summarised below. In the opinion of the Directors, these risks remain unchanged from those detailed in the Company's annual report for the year ended 31 December 2022 which was approved by the Board of Directors on 28 April 2023.
Unaudited condensed consolidated statement of profit or loss and other comprehensive income
for the six month period ended 30 June 2023
Hot Features
Premium
Notes 30 June 2023 30 June
2022
------ ------------- ------------
Operating income and expenses
Sales revenue 1 1,802,566 3,424,568
Total income 1,802,566 3,424,568
------------- ------------
Operating expenses 2 (1,164,003) (3,368,605)
Administrative expenses 4 (418,805) (275,874)
Contractors fees (123,898) (186,168)
Professional services (27,616) (30,137)
Legal and consulting fees (20,003) (26,828)
London Stock Exchange fee (10,667) -
Right-of-use assets expense (9,871) (23,148)
Depreciation of tangible/intangible
assets (8,714) (18,833)
Audit and accountancy fees (5,953) (37,252)
Total operating costs (1,789,530) (3,966,845)
------------- ------------
OPERATING PROFIT / (LOSS) 13,036 (542,277)
------------- ------------
Non-operational income and expenses
Non-operating income 6 6,215 1,381
Non-operating expenses 6 (6,460) (219,316)
RTO Expenses - (491,596)
------------- ------------
NET NON-OPERATING RESULT (245) (709,531)
------------- ------------
Financial income and expenses
Interest income / (expenses) 7 (251,292) (377,711)
Financial income / (expenses) 5 113,684 (237,609)
NET FINANCIAL RESULT (137,608) (615,320)
------------- ------------
PROFIT / (LOSS) BEFORE TAX (124,817) (1,867,128)
------------- ------------
Profit tax (19,998) 14,019
Deferred taxes 8 .1 (20,532) 100,553
PROFIT / (LOSS) FOR THE PERIOD (165,347) (1,752,556)
------------- ------------
OTHER COMPREHENSIVE INCOME
Revaluation reserve - 159,473
Transactions with owners (business
restructuring) 9 3,881 (385,479)
Exchange differences on translating
foreign operations - 506,514
Translation difference 340,110 (1,123,900)
------------- ------------
OTHER COMPREHENSIVE INCOME 343,991 (843,392)
============= ============
TOTAL COMPREHENSIVE INCOME / (LOSS)
FOR THE PERIOD 178,644 (2,595,948)
------------- ------------
Basic and diluted loss per share 10 (0,01) (0,08)
============= ============
Unaudited condensed consolidated statement of financial position as at 30 June 2023
Notes 30 June 2023 31 December
2022
------ ------------- ------------
ASSETS
Non-current assets
Investments 14 10,602,402 10,156,381
Right-of-use assets 13 59,183 66,156
Deferred tax assets 37,097 58,162
Tangible fixed assets 11 2,664 3,391
Intangible assets 12 5,435 7,038
Total non-current assets 10,706,781 10,291,128
------------- ------------
Current assets
Trade and other receivables 15 1,350,100 2,930,095
Other short-term assets - 3,516
Cash at bank 16 79,965 911,686
Total current assets 1,430,065 3,845,297
------------- ------------
TOTAL ASSETS 12,136,846 14,136,425
------------- ------------
EQUITY AND LIABILITIES
EQUITY
Share Capital 194,426 194,426
Share premium 13,660,572 13,660,572
Share based payments 1,926,720 1,926,720
Revaluation reserve 854,196 854,196
Retained earnings (7,106,088) (6,944,622)
Translation difference (533,243) (873,353)
------------- ------------
TOTAL EQUITY 8,996,583 8,817,939
------------- ------------
LIABILITIES
Non-current liabilities
Loans (long term) 18 2,408,539 2,055,712
Other long-term liabilities 19 44,428 53,722
------------- ------------
Total non-current liabilities 2,452,967 2,109,434
------------- ------------
Current liabilities
Trade and other payables 17 400,542 2,905,091
Loans (short term) 18 41,943 81,608
Accrued expenses 20,033 34,235
Current tax liabilities 38,253 17,823
19,
Other short-term liabilities 20 186,525 170,295
------------- ------------
Total current liabilities 687,296 3,209,052
------------- ------------
TOTAL LIABILITIES 3,140,263 5,318,486
------------- ------------
TOTAL EQUITY AND LIABILITIES 12,136,846 14,136,425
------------- ------------
Unaudited condensed consolidated statement of changes in equity for the period ended 30 June 2023
Notes Share Share Share Revaluation Convertible Retained Exchange Translation Total
Capital premium based reserve notes earnings differences difference equity
payments reserve on
translating
foreign
operations
------- -------- ----------- ---------- ------------ ------------ ------------ ------------ ------------ ----------
Balance
at 1 January
2023 194,426 13,660,572 1,926,720 854,196 - (6,944,622) - (873,353) 8,817,939
-------- ----------- ---------- ------------ ------------ ------------ ------------ ------------ ----------
Transactions - - - - - - - - -
with owners
Results
from activities - - - - - (165,347) - - (165,347)
Other comprehensive
income - - - - - 3,881 - 340,110 343,991
Balance
at 30 June
2023 194,426 13,660,572 1,926,720 854,196 - (7,106,088) - (533,243) 8,996,583
======== =========== ========== ============ ============ ============ ============ ============ ==========
Notes Share Share Share Revaluation Convertible Retained Exchange Translation Total
Capital premium based reserve notes earnings differences difference equity
payments reserve on
translating
foreign
operations
------- -------- ----------- ---------- ------------ ------------ ------------ ------------ ------------ ------------
Balance 1 2
at 30 September ,9 38
2021 187,128 ,022 - 854,196 393 (2,288,969) (222,601) 203,721 11,671,890
-------- ----------- ---------- ------------ ------------ ------------ ------------ ------------ ------------
Transactions 722 ,
with owners 7,298 550 1,926,720 - - - - - 2 , 656,568
Results
from activities - - - - - (3,145,770) - - (3,145,770)
(1, 077
Other comprehensive , 074
income - - - - (393) (1,509,883) 222,601 ) (2,364,749)
Balance
at 31 December
2022 194,426 13,660,572 1,926,720 854,196 - (6,944,622) - (873,353) 8,817,939
======== =========== ========== ============ ============ ============ ============ ============ ============
Unaudited condensed consolidated statement of cash flows for the period ended 30 June 2023
Notes 30 June 2023 31 December
2022
------- ------------- ------------
OPERATING ACTIVITIES
Profit / (loss) before taxation (124,817) (3,195,590)
Adjustments for
Depreciation of tangible/intangible
fixed assets 8,714 23,664
Depreciation of right-of-use assets 9,871 38,290
Interest not paid (received) 56,683 51,562
Inventories - 33
Trade and other receivables 1,579,995 (1,186,224)
Trade and other payables (2,504,549) 940,044
Other assets 3,516 132,660
Other liabilities 17,973 (24,284)
Accrued expenses (14,202) 23,579
Non-operating expenses 3,881 3,148,046
Cash generated from operations (962,935) (48,220)
------------- ------------
Taxes reclaimed (paid) - -
------------- ------------
Total cash flow from operating
activities (962,935) (48,220)
------------- ------------
INVESTMENT ACTIVITIES
Purchase /disposal of property,
plant and equipment - (3,391)
Purchase /disposal of other intangible
assets (5,963) (15,276)
Acquisition of subsidiaries, net
of cash acquired - (291,747)
Total cash flow from investment
activities (5,963) (310,414)
------------- ------------
FINANCING ACTIVITIES
Loans given / received 290,000 625,000
Financial obligations (right-of-use) (10,034) (71,103)
Interest paid (right-of-use) (1,003) (5,032)
Total cash flow from financing
activities 278,963 548,865
------------- ------------
NET CASH FLOW (689,935) 190,231
------------- ------------
Exchange differences and translation
differences on funds (141,786) (34,704)
------------- ------------
MOVEMENTS IN CASH FUND (831,721) 155,527
------------- ------------
Balance as of beginning of the period 911,686 756,159
Movement for the period (831,721) 155,527
------------- ------------
Balance as of the end 79,965 911,686
------------- ------------
Notes to the unaudited condensed consolidated financial statements, comprising significant accounting policies and other explanatory information for the six month period ended 30 June
GENERAL INFORMATION
Vox Valor Capital LTD (the "Company")
Vox Valor Capital LTD (former Vertu Capital Limited) was incorporated in the Cayman Islands on 12 September 2014 as an exempted company with limited liability under the Companies Law. The Company's registered office is Forbes Hare Trust Company Limited, Cassia Court, Camana Bay, Suite 716, 10 Market Street, Grand Cayman KY1-9006, Cayman Islands, registration number 291725.
The Group comprises from the parent company Vox Valor Capital LTD and the following subsidiaries:
-- Vox Capital Ltd United Kingdom 100% ownership by Vox Valor Capital LTD
-- Vox Valor Capital Pte Limited Singapore 100% ownership by Vox Capital Ltd
-- Initium HK Limited Hong Kong 100% ownership by Vox Capital Ltd
-- Mobio Global Limited United Kingdom 100% ownership by Vox Capital Ltd
-- Mobio (Singapore) Pte Ltd Singapore 100% ownership by Mobio Global Limited
-- Mobio Global Inc . USA 100% ownership by Mobio Global Limited
The principal activity of the Group is businesses in the digital marketing, advertising and content sector. The Group focuses on App, Mobile, Performance and has been providing the services for the promotion of mobile apps and games.
The Company is controlled by Vox Valor Holding LTD (UK).
Final beneficiaries of the Group are Pieter van der Pijl, Stefans Keiss, and Sergey Konovalov.
Management (Directors)
-- John G Booth (Chairman and Non-Executive Director) -- Rumit Shah (Non-Executive Director) -- Konstantin Khomyakov (Finance Director)
Going concern
At the time of approving the financial statements, the Management has a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future. Thus, the Management continues to adopt the going concern basis of accounting in preparing the financial statements.
ACCOUNTING POLICIES
The Consolidated Interim Financial Statements have been prepared in accordance with UK-adopted International Accounting Standards ("IFRS") and interpretations issued by the International Accounting Standards Board ("IASB") and interpretations issued by the International Financial Reporting Standards Interpretations Committee ("IFRIC").
The presentation al currency of the Group is US dollars (USD).
The notes are an integral part of the financial statements.
Reporting period
These financial statements represent the financial reporting period of the Group for the 6 month period ended 30 June 2023.
General
An asset is disclosed in the statement of financial position when it is probable that the expected future economic benefits attributable to the asset will flow to the entity and the cost of the asset can be reliably measured. A liability is disclosed in the statement of financial position when it is expected to result in an outflow from the entity of resources embodying economic benefits and the amount of the obligations can be measured with sufficient reliability.
If a transaction results in transfer of future economic benefits and/or when all risks associated with assets or liabilities have been transferred to a third party, the asset or liability is no longer included in the statement of financial position. Assets and liabilities are not included in the statement of financial position if economic benefits are not probable or cannot be measured with sufficient reliability.
The income and expenses are accounted for during the period to which they relate. Revenue is recognized when control over service is transferred to a customer.
The Management is required to form an opinion and make estimates and assumptions for assets, liabilities, income, and expenses. The actual result may differ from these estimates. The estimates and the underlying assumptions are constantly assessed. Revisions are recognised during a corresponding revision period as well as any future periods affected by the revision. The nature of these estimates and judgements, including related assumptions, is disclosed in the notes to corresponding items in the financial statement.
Basis of consolidation
The Consolidated Financial Statements incorporate the financial information of Vox Capital Ltd and all its subsidiary undertakings. Subsidiary undertakings include entities over which the Group has effective control. The Company controls a group when it is exposed to, or has right to, variable returns from its involvement with the Group and has the ability to affect those returns through its power over the Group. In assessing control, the Group takes into consideration potential voting rights.
-- The Company acquired Vox Valor Capital LTD on 30 September (holding company) -- The Company acquired Vertu Capital Holding Ltd on 30 September (holding company)
-- The Company acquired Vox Valor Capital Singapore Pte Limited on 8 October 2020 (holding company)
-- The Company acquired Initium HK Limited on 14 December 2020 (holding company) -- The Company acquired Mobio (Singapore) PTE LTD on 14 October 2020. -- The Company acquired Mobio Global Inc. on 27 April 2022
Principles for foreign currency translation
The financial statements of the Group are presented in US dollars, which is the Group's presentation currency.
Receivables, liabilities, and obligations denominated in any currency other than USD are translated at the exchange rates prevailing as of the reporting date.
Transactions in any currency other than USD during the financial year are recognized in the financial statements at the average annual exchange rate. The exchange differences resulting from the translation as of the reporting date, taking into account possible hedging transactions, are recorded in the consolidated statement of profit or loss and other comprehensive income.
The nominal value of the share capital and other share components of the subsidiaries are denominated in Singapore dollars (SGD) and in the pounds of sterling (GBP) and translated into USD using historical exchange rate; the exchange differences resulting from this translation are recorded in the Exchange differences on translating foreign operations in the statement of financial position.
Cross-rates USD/RUB are taken from the Central bank of the Russian Federation official site Official exchange rates on selected date | Bank of Russia (cbr.ru) . Cross-rates GBP/USD, USD/SGD and average rate GBP/USD are taken from https://www.exchangerates.org.uk/ and closing rate GBP/USD is taken from the site Currency Exchange Rates - International Money Transfer | Xe .com.
GBP/USD 30 . 06 3 1 . 12
.202 3 .202 2
-------------- -------- ---------
Closing rate 1. 2681 1. 2101
Average rate 1. 2337 1. 2369
Revenue
The Group's revenue comprises primary income from the provision of mobile marketing services in 2023 and 2022. Revenue is recognized when the related services are delivered based on the specific terms of the contract. The Group uses a number of different information technology ("IT") systems to track certain actions as specified in customer contracts. The calculation of charges for mobile marketing services is carried out automatically by the technology platform based on pre-defined key parameters, including unit price and volume. These IT systems are complex and process large volumes of data.
Records of mobile marketing services charges are generated in an aggregated amount for each category and are manually entered into the accounting system on a monthly basis.
Revenue recognition
Revenue is measured based on specific contract terms and excludes amounts collected on behalf of any third parties. Revenue is recognized when control over service is transferred to a customer.
The following is a description of principal activities from which the Group generates its revenue.
Cost of sales (operating expenses)
Cost of sales represents the direct expenses that are attributable to the services delivered. They consist primarily of payments to platforms and publishers under the terms of the revenue agreements. The cost of sales can include commissions where applicable.
Financial instruments
The Group classifies financial instruments, or their component parts, on initial recognition as a financial asset, a financial liability, or an equity instrument in accordance with the terms of the contractual arrangement. Financial instruments are recognised on trade date when the Group becomes a party to the contractual provisions of the instrument. Financial instruments are recognised initially at fair value plus, in the case of a financial instrument not at fair value through profit and loss, transaction costs that are directly attributable to the acquisition or issue of the financial instrument. Financial instruments are derecognised on the trade date when the Group is no longer a party to the contractual provisions of the instrument.
Trade and other receivables and trade and other payables
Trade and other receivables are recognised initially at transaction price less attributable transaction costs. Trade and other payables are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any expected credit losses in the case of trade receivables. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument.
Other financial commitments
Financial commitments that are not held for trading purpose are carried at amortised cost using the effective interest rate method.
Other purchased intangibles assessment
The Group annually reviews the recoverability of all long-term assets, whenever events or changes in circumstances indicate that the carrying amount of an asset might not be recoverable. The Group determines whether there has been an impairment by comparing the anticipated undiscounted future net cash flows to the related asset's carrying value. If an asset is considered impaired, the asset is written down to fair value which is either determined based on discounted cash flows or appraised values, depending on the nature of the asset.
Intangible fixed assets
Concessions, Intellectual Property and Licenses are stated at cost less accumulated amortisation.
Amortisation is recognized in the income statements on a straight-line over the estimated useful life as follows:
-- Trademarks - 10 years. -- Licenses - validity period. -- Programs - 5 years.
Tangible fixed assets
Tangible fixed assets are stated at their historical cost less accumulated depreciation. Depreciation is recognized in the income statement in a straight-line basis over the estimated useful lives of each item of tangible fixed assets. The minimum cost to recognize an objects as a fixed asset is 3,000 USD. The annual depreciation rates applied are:
-- Technical and office equipment, computers - 3 years.
Leases
All leases are accounted for by recognising a right-of-use asset and a lease liability except for:
-- Leases of low value assets; and -- Leases with a duration of twelve months or less.
Lease liabilities are measured at the present value of contractual payments due to the lessor over the lease term, with the discount rate determined by reference to the rate inherent in the lease unless (as is typically the case) this is not readily determinable, in which case the Group's incremental borrowing rate placed at the official site of the Bank of England.
Short-term leases and leases of low-value assets
The Group has elected not to recognise right-of-use assets and lease liabilities for short-term leases that have a lease term of 12 months or less and low-value assets, including IT equipment. The Group would recognise the lease payments associated with these leases as an expense on a straight-line basis over the lease term.
Receivables
Upon initial recognition the receivables are included at fair value and then valued at amortised cost. The fair value and amortised cost equal the face value. Any provision for doubtful accounts deemed necessary is deducted. These provisions are determined by individual assessment of the receivables. All receivables are due within one year.
Cash
Cash and cash equivalents comprise cash balances and call deposits. Bank overdrafts that are repayable on demand and form an integral part of the Group's cash management are included as a component of cash and cash equivalents for the purpose only on the cash flow statement.
The cash flow statement from operating activities is reported using the indirect method.
Provisions
These are recognised when the Group has a present legal or constructive obligation as a result of past events, when it is probable that an outflow of resources will be required to settle the obligation, and the amount can be reliably estimated.
Provisions are measured at the present value of the expenditure expected to be required to settle the obligation, using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to the passage of time is recognised as a finance cost.
Deferred taxes
A deferred tax liability / asset is recognized for any differences in commercial and fiscal valuation of the Group's assets and liabilities.
Taxation
Current tax is the tax currently payable based on the taxable profit for the year.
The Group recognises current tax assets and liabilities of entities in different jurisdictions separately as there is no legal right of offset. Deferred tax is provided in full on temporary differences between the carrying amounts of assets and liabilities and their tax bases, except when, at the initial recognition of the asset or liability, there is no effect on accounting or taxable profit or loss under a business combination. Deferred tax is determined using tax rates and laws that have been substantially enacted by the statement of financial position date, and that are expected to apply when the temporary difference reverses.
Tax losses available to be carried forward, and other tax credits to the Group, are recognised as deferred tax assets, to the extent that it is probable that there will be future taxable profits against which the temporary differences can be utilised. Changes in deferred tax assets or liabilities are recognised as a component of the tax expense in the statement of comprehensive income, except where they relate to items that are charged or credited directly to equity, in which case the related deferred tax is also charged or credited directly to equity.
Financial income and expenses
Financing income includes forex exchange and financial expenses include bank fee.
ACCOUNTS BREAKDOWN AND NOTES
1. Revenue
Revenue arises from:
Country H1 2023 H1 2022
-------------------- ---------- ----------
UK 1,767,609 605,835
Singapore 30,757 255,542
USA 4,200 -
Russian Federation - 2,563,191
---------- ----------
Total 1,802,566 3,424,568
---------- ----------
Revenue is segmented by the country where it was received.
2. Operating expenses
Country H1 2023 H1 2022
-------------------- ---------- ----------
UK 1,095,037 1,575,443
Singapore 48,823 47,741
USA 20,143 -
Russian Federation - 1,745,421
--------------------- ---------- ----------
Total 1,164,003 3,368,605
---------- ----------
Expenses H1 2023 H1 2022
----------------------------------- ---------- ----------
Platforms and publishers'
fees 775,380 2,747,301
Premium receivable from platforms - (68,939)
Contractor fees 388,623 262,498
Wages & Salaries - 256,038
Social taxes - 42,667
Other - 129,040
------------------------------------ ---------- ----------
Total 1,164,003 3,368,605
---------- ----------
Operating expenses include the cost of the services of third parties for the placement of advertising and information materials of the Group's clients and the salaries expenses and social contributions of employees.
3. Operating segments
The operating segments identifies based on internal reporting for decision-making. The Group is operated as one business with key decisions irrespective of the geography where work for clients is carried out. The Management (chief operating decision maker) considers that the Group has one operating segment. Therefore, no additional disclosure has been represented.
Geographical disclosures are presented in the notes 1,2.
4. Administrative expenses
H1 2023 H1 2022
-------- --------
Wages & Salaries 32,188 91,103
Wages & Salaries - (top management) 214,504 44,902
Social taxes 3,116 10,519
Social taxes - (top management) 21,421 3,096
Audit and Accountancy fees 64,376 3,347
Voluntary medical insurance of employees 26,542 -
Advertising & Marketing 18,177 -
IT services and license fees 17,393 31,241
Business travel expenses 11,689 1,922
Office expenses 3,631 56,416
Staff education and training - 10,802
Other administrative expenses 5,768 22,526
Total 418,805 275,874
-------- --------
Staff details (administrative and operating)
Number of staff H1 2023 H1 2022
-------- --------
UK 2 2
including Director 2 2
Russian Federation - 34
including Director - 1
Singapore - -
USA 4 -
including Director 1 -
-------- --------
Total 6 36
-------- --------
Staff cost (operating and H1 2023 H1 2022
administrative)
-------- --------
Wages & Salaries 32,188 347,141
Wages & Salaries - (top management) 214,504 44,902
Social taxes 3,116 53,186
Social taxes - (top management) 21,421 3,096
-------- --------
Total 271,229 448,325
-------- --------
Remuneration paid to key management personnel :
Director's
fees
Holding Subsidiary Total
company companies
--------- ----------- --------
Directors remuneration H1
2023 95,612 118,892 214,504
Directors remuneration H1
2022 - 44,902 44,902
5. Finance income and financial expenses
H1 2023 H1 2022
-------- --------
Finance income
FX differences 117 052 -
Total 117 052 -
-------- --------
Finance expenses
FX differences - 200,885
Bank fee 3,368 36,724
-------- --------
Total 3,368 237,609
-------- --------
6. Non-operating income and expenses
H1 2023 H1 2022
-------- --------
Non-operating income
Other non-operating income 6,215 1,381
Total 6,215 1,381
-------- --------
Non-operating expenses
Provision for bad debts - 211,274
Other non-operating expenses 6,460 8,042
-------- --------
Total 6,460 219,316
-------- --------
7. Interest income and expenses
H1 2023 H1 2022
-------- --------
Interest income
Interest on the bank account - 131
Influence LLC, loan agreement 4 dd
19.08.2020 - 108
Interest income total - 239
-------- --------
Interest expenses H1 2023 H1 2022
-------- --------
TDFD loan interest 234,412 232,873
Loan Note Interest Expense - 141,663
AdTech loan 14,373 -
Mobile Marketing LLC 1,504 -
Rent interest 1,003 3,414
-------- --------
Total 251,292 377,950
-------- --------
8. Taxation
H1 2023 H1 2022
-------- -----------
Profit tax
UK corporation tax (19%) 15,504 (13,215)
Russian corporation tax (20%) - (804)
Singapore corporation tax (17%) 4,494 -
USA corporation tax (21%) - -
-------- -----------
Total current tax 19,998 (14,019)
Deferred tax UK 81,505 ( 14,525)
Deferred tax Russia (868) ( 86,740 )
Deferred tax Singapore (60,105) 922
Deferred tax USA - (210)
-------- -----------
Deferred tax in Profit and Loss report 20,532 ( 100,553 )
Taxation on profit on ordinary activities 40,530 (114,572)
======== ===========
Deferred tax in Statement of financial
position
- opening balance 58,162 42,174
Deferred tax in Statement of Profit
and Loss during reporting period (20,532) 100,553
Translation difference (533) 46,704
Deferred tax in Statement of financial
position
- closing balance 37,097 189,431
-------- -----------
Net deferred tax assets recognized as of 30 June 2023 was not impaired.
8.1. Deferred taxes
As of 1 Movements during As of 30
January 202 reporting period June 2023
3
------------- ------------------------- -----------
Deferred Charge Translation Deferred
tax BS to profit difference tax BS
or loss
------------- ----------- ------------ -----------
Right-of-use assets 940 (303) 36 673
Property , plant and
equipment - 164 5 169
Intangible assets (1,338) 359 (53) (1,032)
Trade receivables (payables) (28,136) (15,066) (1,815) (45,017)
Provisions 1,139 - - 1,139
Losses of previous years 85,557 (5,686) 1,294 81,165
------------- ----------- ------------ -----------
Total 58,162 (20,532) (533) 37,097
------------- ----------- ------------ -----------
9. Transactions with owners (business restructuring)
On 23 February 2023, Vertu Capital Holding Ltd. (UK) was liquidated by Vox Valor Capital Limited. The financial effect recognized in the financial statements amounted to a USD 3,881 expense / cost.
10. Earnings per share
Basic (losses)/earnings per share is calculated by dividing the profit/(loss) attributable to equity shareholders by the weighted average number of shares outstanding during the year.
Diluted earnings per share is calculated by adjusting the weighted average number of ordinary shares outstanding to assume conversion of all dilutive potential ordinary shares. As at 31 December 2022 the Group has outstanding Warrants issued to the NED Directors (Non-executive directors) and Stonedale Management and Investments Limited Ltd (Stonedale), which when exercised will convert into Ordinary Shares. Total number of Warrants in issue is 45,833,333.
30 June 2023 31 December
2022
-------------- --------------
Loss for the period after tax for
the purposes of basic and diluted
earnings per share (165,347) (3,145,770)
Number of ordinary shares 2,368,395,171 2,368,395,171
Weighted average number of ordinary
shares in issue for the purposes
of basic earnings per share 2,368,395,171 2,195,443,485
-------------- --------------
Loss per share ( cent) (0,01) (0,14)
-------------- --------------
During a period where the Group or Company makes a loss, accounting standards require that 'dilutive' shares for the Group be excluded in the earnings per share calculation, because they will reduce the reported loss per share; consequently, all per-share measures in the current period are based on the weighted number of ordinary shares in issue.
11. Tangible fixed assets
Fixed assets movement as of June 30, 2023
Computers, Total
Cost phones
----------- ------
As of beginning of the period 3,391 3,391
Translation difference 162 162
As of period end 3,553 3,553
----------- ------
Depreciation
----------- ------
As of beginning of the period - -
Depreciation charge (865) (865)
Translation difference (23) (23)
As of period end (889) (889)
----------- ------
Net book value
----------- ------
As of beginning of the period 3,391 3,391
----------- ------
As of period end 2,664 2,664
----------- ------
Tangible fixed assets are amortized over 3 years. Depreciation expenses are included in profit and loss under the <<Depreciation of tangible / intangible assets>>.
12. Intangible assets
Intangible assets movement as of 30 June 2023:
Cost Licenses Total
--------- --------
As of period beginning 14,944 14,944
--------- --------
Additions 5,962 5,962
Disposals (6,170) (6,170)
Translation difference 711 711
As of period end 15,447 15,447
--------- --------
Depreciation
--------- --------
As of period beginning (7,906) (7,906)
--------- --------
Depreciation charge (7,849) (7,849)
Disposals 6,170 6,170
Translation difference (427) (427)
--------- --------
As of period end 10,012) 10,012)
--------- --------
Net book value
As of period beginning 7,038 7,038
--------- --------
As of period end 5,435 5,435
--------- --------
Amortization is recognized in the income statements using the straight-line method over the estimated useful life :
-- Licenses - validity period. 13. Right-of-use assets
Right-of-use assets movement as of 30 June 2023:
Cost Leased server Total
-------------- ---------
As of period beginning 77 , 451 77 , 451
-------------- ---------
Translation difference 3,714 3,714
As of period end 81,165 81,165
-------------- ---------
Depreciation
-------------- ---------
As of period beginning (11,295) (11,295)
-------------- ---------
Depreciation charge (9 871) (9 871)
Translation difference (816) (816)
As of period end (21,982) (21,982)
-------------- ---------
Net book value
-------------- ---------
As of period beginning 66,156 66,156
-------------- ---------
As of period end 59,183 59,183
-------------- ---------
Lease liabilities in respect of right-of-use assets:
Leased server Total
-------------- -------
As of 3 0 June 2023 62,724 62,724
including:
long-term 44,428 44,428
short-term 18,296 18,296
Interest expense recognized: Leased server Total
-------------- -------
As of 30 June 2023 1,003 1,033
The discount rate 2022 used in determining the present value of the lease liability was determined based on the borrowing rates placed at Bank of England official site ( https://www.bankofengland.co.uk/statistics/effective-interest-rates ) and consisted as follows:
- Server lease right: 3.11% .
14. Investments in subsidiaries
Subsidiary undertakings Country of incorporation
30 June 2023 31 December
2022
------------- ------------
Vertu Capital Holding
Ltd. United Kingdom - 100%
Vox Capital Ltd United Kingdom 100% 100%
Mobio Global Ltd United Kingdom 100% 100%
Vox Valor Capital
Pte Ltd Singapore 100% 100%
Initium HK Ltd Hong Kong 100% 100%
Vox Valor Capital Pte. Limited and Initium HK Limited are companies holding investments in stock.
On 23 February 2023, Vertu Capital Holding Ltd. (UK) was liquidated by Vox Valor Capital Limited.
Mobio Global Limited was created as an acquisition purposes vehicle. As of 30 June 2023 the Mobio Group consists of:
Subsidiary undertakings Country of incorporation
30 June 2023 31 December
2022
------------- ------------
Mobio (Singapore)
PTE LTD Singapore 100% 100%
Mobio Global Inc. USA 100% 100%
Investments at fair value
Investments at fair value 30 June 2023 31 December
2022
--------------------------- ------------- ------------
Airnow PLC shares 10,602,402 10,156,281
Total 10,602,402 10,156,281
------------- ------------
The shares in Airnow PLC are directly held by Vox Valor Capital Singapore Pte Limited.
15. Trade and other receivables
30 June 2023 31 December
2022
------------- ------------
Trade receivables 1,170,365 2,924,351
Provision for bad debts (6,702) (6,702)
Prepayments 186,437 12,446
------------- ------------
Total 1,350,100 2,930,095
------------- ------------
All of the trade receivables were non-interest bearing and receivable under normal commercial terms. The Directors consider that the carrying value of trade and other receivables approximates to their fair value. The ageing of trade receivables is detailed below:
As of 30 June 2023
< 60 days < 90 < 180 > 180 Total
days days days
---------- ------ ------ -------- ----------
Trade receivables 1,163,663 - - 6,702 1 170 365
Provision for bad
debts - - - (6,702) (6 702)
---------- ------ ------ -------- ----------
Total 1,163,663 - - - 1,163,663
---------- ------ ------ -------- ----------
As of 31 December 2022
< 60 days < 90 < 180 > 180 Total
days days days
---------- ------ ------ -------- ----------
Trade receivables 2,917,649 - - 6,702 2,924,351
Provision for bad
debts - - - (6,702) (6,702)
---------- ------ ------ -------- ----------
Total 2,917,649 - - - 2,917,649
---------- ------ ------ -------- ----------
16. Cash and cash equivalents
30 June 2023 31 December
2022
------------- ------------
Cash at bank and in hand 79,965 911,686
------------- ------------
Total 79,965 911,686
------------- ------------
17. Trade and other payables
30 June 2023 31 December
2022
------------- ------------
Trade payables 392,551 2,891,753
Other taxes and social security costs 496 8,068
Other payables and accruals 7,495 5,270
------------- ------------
Total 400,542 2,905,091
------------- ------------
The fair value of trade and other payables approximates to book value at each year end. Trade payables are non-interest bearing and are normally settled monthly.
18. Loans and borrowings
Long-term 30 June 2023 31 December
2022
------------- ------------
Triple Dragon Funding Delta Limited
(TDFD) - principal 1,915,000 1,625,000
AdTech Solutions Limited - principal 385,000 385,000
AdTech Solutions Limited - interest 61,007 -
Mobile Marketing LLC - principal 40,000 40,000
Mobile Marketing LLC - interest 7,532 5,712
Total 2,408,539 2,055,712
------------- ------------
Short-term 30 June 2023 31 December
2022
------------- ------------
Triple Dragon Funding Delta Limited
(TDFD) - interest 41,943 35,038
AdTech Solutions Limited - interest - 46,570
Total 41,943 81,608
------------- ------------
During the period ended 30 June 2023, the Group used a lending facility from Triple Dragon Funding Delta Limited (TDFD). The TDFD facility is secured by a floating charge that covers the property and undertakings of Vox Capital Ltd and Mobio Global Ltd. Interest is charged on the loan at a rate of 2.25% per calendar month.
On 27 July 2022, the loan agreement between Mobio Global LTD (borrower) and Mobile Marketing LLC (lender) dated 06.10.2020 was assigned to Adtech Solutions Limited. Final repayment date is 1 March 2024. Interest is charged on the loan at a rate of 7.5% per calendar month.
19. Other long-term and lease liabilities
Lease liabilities
30 June 2023 31 December
2022
------------- ------------
Non-current liabilities
Lease liabilities 44,428 53,722
Current liabilities
Lease liabilities 18,296 17,381
------------- ------------
Total 62,724 71,103
------------- ------------
As at the period ended 30 June 2023 the Group leases a server for the purpose of storing files and documents. The Group does not lease any premises in London, Singapore and USA.
Interest expense recognized: Leased property Leased server Total
---------------- -------------- ------
As of 30 June 2023 - 1,003 1,033
As of 31 December 202 2 2,999 2,033 5,032
The discount rate 2022 used in determining the present value of the lease liability was determined based on the borrowing rates placed at Bank of England official site ( https://www.bankofengland.co.uk/statistics/effective-interest-rates ) and consisted as follows:
- Server lease right: 3.11% .
20. Other short-term liabilities
30 June 2023 31 December
2022
------------- ------------
VAT payable (tax agent) 153,883 152,914
Current lease liabilities 18,296 17,381
Salary liabilities 14,346 -
------------- ------------
Total 186,525 170,295
------------- ------------
21. Financial instruments
The Group's financial instruments may be analysed as follows:
Financial assets 30 June 2023 31 December
2022
------------- ------------
Financial assets measured at amortised
cost :
Cash at bank and in hand 79,965 911,686
Trade receivables 1,163,663 2,917,649
Other receivables 186,437 12,446
------------- ------------
Total 1,430,065 3,841,781
------------- ------------
Financial liabilities 30 June 2023 31 December
2022
------------- ------------
Financial liabilities measured at
amortised cost :
Trade payables 392,551 2,891,753
Other taxes and social security costs 496 8,068
Lease liabilities 62,724 71,103
------------- ------------
Total 455,771 2,970,924
------------- ------------
The Group's income, expense, gains and losses in respect of financial assets measured at fair value through profit or loss realised fair value gains of nil (2022: nil).
22. Financial risk management
The Group is exposed to a variety of financial risks through its use of financial instruments which result from its operating activities. All the Group's financial instruments are classified trade and other receivables. The Group does not actively engage in the trading of financial assets for speculative purposes. The most significant financial risks to which the Group is exposed are described below:
Credit risk
Generally, the Group's maximum exposure to credit risk is limited to the carrying amount of the financial assets recognised at the reporting date, as summarised below:
30 June 2023 31 December
2022
------------- ------------
Trade receivables 1,163,663 2,917,649
Prepayments 186,437 12,446
------------- ------------
Total 1,350,100 2,930,095
------------- ------------
Credit risk is the risk of financial risk to the Group if a counter party to a financial instrument fails to meet its contractual obligation. The nature of the Group's debtor balances, the time taken for payment by clients and the associated credit risk are dependent on the type of engagement.
The Group's trade and other receivables are actively monitored. The ageing profit of trade receivables is monitored regularly by Directors. Any debtors over 30 days are reviewed by Directors every month and explanations sought for any balances that have not been recovered.
Unbilled revenue is recognised by the Group only when all conditions for revenue recognition have been met in line with the Group's accounting policy.
The Directors are of the opinion that there is no material credit risk at the Group level.
Liquidity risk
Liquidity risk is the situation where the Group may encounter difficulty in meeting its obligations associated with its financial liabilities. The Group seeks to manage financial risks to ensure sufficient liquidity is available to meet any foreseeable needs and to invest cash assets safely and profitably.
The tables below break down the Group's financial liabilities into relevant maturity groups based on their contractual maturities.
The amounts disclosed in the tables below are the contractual undiscounted cash flows. Balances due within 12 months equal their carrying balances, because the impact of discounting is not significant.
Contractual maturities of financial liabilities as of 30 June 2023
Less than 6-12 Between Between Carrying
6 months months 1 and 2 and amount
2 years 5 years
---------- -------- --------- --------- ---------
Trade and other
payables 400,542 - - - 400,542
Corporation tax
payable 38,253 - - - 38,253
Lease liabilities 9,719 8,577 44,428 - 62,724
---------- -------- --------- --------- ---------
Total 448,514 8,577 44,428 - 501,519
---------- -------- --------- --------- ---------
Contractual maturities of financial liabilities as of 31 December 2022
Less than 6-12 Between Between Carrying
6 months months 1 and 2 and amount
2 years 5 years
---------- -------- --------- --------- ----------
Trade and other
payables 2,905,091 - - - 2,905,091
Corporation tax
payable 17,823 - - - 17,823
7 ,
Lease liabilities 9 , 426 955 20 , 298 33 , 424 71 , 103
---------- -------- --------- --------- ----------
7 , 20 , 33 ,
Total 2,932,340 955 298 424 2,994,017
---------- -------- --------- --------- ----------
Interest rate risk
The Group is not exposed to material interest rate risk as its liabilities are either non-interest bearing or subject to fixed interest rates.
Foreign currency risk
The Group operates internationally and is exposed to foreign exchange risk arising from various currency exposures, primarily the Russian Ruble . The Group monitors exchange rate movements closely and ensures adequate funds are maintained in appropriate currencies to meet known liabilities.
The Group's exposure to foreign currency risk at the end of the respective reporting period, expressed in Currency Units, was as follows:
Cash & cash equivalents GBP EUR
-------- -------
30 June 2023 2,623 8,617
31 December 2022 157,104 11,291
-------- -------
The Group is exposed to foreign currency risk on the relationship between the functional currencies of the Group companies and the other currencies in which the Group's material assets and liabilities are denominated. The table below summaries the effect on profit and loss had the functional currency of the Group weakened or strengthened against these other currencies, with all other variables held constant.
30 June 2023 31 December 2022
--------------- -------------------
GBP EUR GBP EUR
------- ------ --------- --------
10% weakening of functional
currency (262) (862) (15,710) (1,129)
------- ------ --------- --------
10% strengthening of functional
currency 262 862 15,710 1,129
------- ------ --------- --------
The impact of a change of 10% has been selected as this has been considered reasonable given the current level of exchange rates and the volatility observed both on a historical basis and market expectations for future movements.
Reputational risks
The Management of the Group believes that at present there are no facts that could have a significant negative impact on the decrease in the number of its customers due to a negative perception of the quality of services provided, adherence to the terms of rendering services, as well as the participation of the Group in any price agreement. Accordingly, reputational risks are assessed by the Group as insignificant.
Fair value of financial instruments
The fair values of all financial assets and liabilities approximates their carrying value.
Other risks
The industry risk is currently assessed as low, and the volume of advertising on the Internet is growing. However, it should be taken into consideration that the industry is affected by changing legislation on the regulation of the advertising services provision and compliance with information security of data. Also, the Group business depends on the availability, performance and reliability of internet, mobile and other infrastructures (speed, data capacity and security) that are not under the Group control.
The Group makes every effort to comply with the requirements of the legislation and to maintenance of a reliability for providing advertising internet services.
23. Related party disclosures
Parties are generally considered to be related if one party has the ability to control the other party or can exercise significant influence in making financial and operational decisions.
The related parties of the Group are:
-- Petrus Cornelis Johannes Van Der Pijl - Director, international group member (the ultimate beneficiary).
-- Stefans Keiss - international group member (the ultimate beneficiary). -- S Konovalov - international group member (the ultimate beneficiary). -- Vox Valor Capital Pte. LTD - international group member. -- Vox Capital LTD - international group member. The shareholder of the Mobio Global LTD. -- Vox Valor Capital LTD - international group member. -- Vox Capital Holding LTD - international group member. -- Vox Valor Holding LTD - international group member.
The affiliated parties of the Company are:
-- Mobile Marketing LLC - through S. Konovalov. -- Influence LLC - through S. Konovalov. -- Adtech solutions limited - through S. Konovalov -- Triple Dragon Services OÜ - through Petrus Cornelis Johannes Van Der Pijl -- Triple Dragon Limited - through Petrus Cornelis Johannes Van Der Pijl -- Triple Dragon Funding Delta Limited - through Petrus Cornelis Johannes Van Der Pijl
23.1. Transactions with related parties
-- Trade and other receivables - related parties (immediate parent company for the Group) :
Creditor Related Description 30 June 31 December
party 2023 2022
------------- -------------- ------------------------- -------- ------------
Vox Capital Mobio Global
Ltd LTD Administrative expenses 21,424 8,591
Total: 24,424 8,591
-- Trade and other payables - related parties (immediate parent company for the Group):
Debtor Related Description 30 June 31 December
party 2023 2022
------------- -------------- ----------------------- ---------- ------------
Vox Capital Mobio Global
Ltd LTD Intercompany payments 2,304,890 2,448,048
Total: 2,304,890 2,448,048
23.2. Transactions with affiliated parties
-- Trade and other receivables - affiliated parties:
Debtor Affiliated Description 30 June 31 December
party 2023 2022
------------------- ------------------- ------------------- -------- ------------
Mobio Global Triple Dragon
LTD Services OÜ Service agreement 406,826 650,586
Mobio Global Adtech Solutions
LTD Limited Service agreement 227,826 185,696
Mobio Global Mobile Marketing
LTD LLC Service agreement 181,901 185,696
Mobio (Singapore) Triple Dragon
Pte LTD Services OÜ Service agreement 44,500 44,500
Total: 860,272 880,782
-- Trade and other payables - affiliated parties:
Creditor Affiliated Description 30 June 31 December
party 2023 2022
------------------- ------------------- --------------------- -------- ------------
Mobio Global Triple Dragon
LTD Services OÜ Service agreement 9,350 145,623
Mobio (Singapore) Triple Dragon
Pte LTD Services OÜ Service agreement - 125,094
Mobio Global Mobile Marketing
LTD LLC Audit fees charging 39,623 37,168
Mobio (Singapore) Mobile Marketing
Pte LTD LL Audit fees charging 15,299 15,924
Total: 64,272 323,809
-- Loans - affiliated parties:
Creditor Affiliated Description 30 June 31 December
party 2023 2022
-------------- ------------------ ---------------- ---------- ------------
Triple Dragon
Vox Capital Funding Delta Loan agreement
Ltd Limited - principal 1,915,000 1,625,000
Triple Dragon
Vox Capital Funding Delta Loan agreement
Ltd Limited - interest 41,943 35,038
Mobio Global Adtech solutions Loan agreement
LTD limited - principal 385,000 385,000
Mobio Global Adtech solutions Loan agreement
LTD limited - interest 61,007 46,570
Vox Capital Mobile Marketing Loan agreement
Ltd LLC - principal 40,000 40,000
Vox Capital Mobile Marketing Loan agreement
Ltd LLC - interest 7,532 5,712
Total: 2,450,482 2,137,320
-- Income and expenses - affiliated parties:
Parent company Affiliated Description H1 2023 H1 2022
party
------------------- ------------------- -------------------- -------- --------
Mobio Global Triple Dragon Sales revenue 872,838 -
LTD Services OÜ
Mobio Global Adtech Solutions Sales revenue 214,715 -
LTD Limited
Mobio Global Triple Dragon
LTD Services OÜ Operating expenses 34,182 49,725
Mobio (Singapore) Triple Dragon
Pte LTD Limited Operating expenses 34,807 2,741
Mobio Global Adtech Solutions Administrative 375 -
LTD Limited expenses
Triple Dragon
Vox Capital Funding Delta
Ltd Limited Interest expenses 234,412 323,873
Mobio Global Adtech solutions Interest expenses 14,373 -
LTD limited
Mobile Marketing Influence Interest income 1,504 -
LLC LLC
24. Subsequent events
In the period between the reporting date and the date of signing the financial statements for the interim reporting period, there were no other facts of economic activity that could have an impact on the financial condition, cash flow or performance of the organization and which should be reflected.
25. Approval of unaudited consolidated financial statements
Responsibility Statement
The Company's Directors, whose names and functions appear below this statement, are responsible for preparing this unaudited interim consolidated financial statements in accordance with the Disclosure Guidance and Transparency Rules of the United Kingdom's Financial Conduct Authority ('DTR') and with Accounting Standard IAS 34 "Interim Financial Reporting".
The Directors, and each Director individually, confirms that, to the best of their knowledge, this unaudited consolidated financial statements gives a true and fair view of the assets, liabilities, financial position and profit or loss of the Group and that the interim management report includes a fair review of the information required by DTR4.2.7R 7R (indication of important events during the first six months and description of principal risks and uncertainties for the remaining six months of the year) and by DTR4.2.8R (disclosure of material related parties' transactions).
Directors:
John G Booth (Non-Executive Chairman)
Konstantin Khomyakov (Finance Director)
Rumit Shah (Non-Executive Director)
Simon Retter (Non-Executive Director) (resigned 31 August 2023)
This unaudited consolidated financial information was approved by the Board on 28 September 2023 .
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END
IR NKFBPFBKDOCB
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September 29, 2023 02:00 ET (06:00 GMT)
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