Β£2.1 Million debt ?29 Jan 2021 12:42
Hi everyone , has anyone seen this post by lse at the top of our page ?
I didn't read that in this morningβs rns !!!
Anyone know if it's correct ?
.......
IN BRIEF: Supply@Me Capital Loss Widens On Expenses, Acquisition Costs
Fri, 29th Jan 2021 11:48
Supply@Me Capital PLC - London-headquartered fintech platform - Reports GBP2.1 million loss for the six months ended June 30 compared to a loss of only GBP113,000 the year before. This results from a multiplying of administrative expenses to GBP1.1 million from GBP124,000 the year before, plus exceptional costs of GBP1.4 million relating to its reverse acquisition of Supply@Me Srl in March 2020, with no exceptional costs the prior year. Revenue rises to GBP368,000 from just GBP11,000.
Chief Executive Alessandro Zamboni says: "As well as completing the first open-funding securitisation transactions, in 2021 the company expects to launch and grow its Captive Bank and Shariah funding routes. The multi-channel Inventory funding opportunity widens the platform's potential investor base and therefore improves its fund-raising potential."