cloudy statement21 Aug 2020 08:37
How can it be true to say 'We are pleased to report a successful half-year performance for the Group..'' by Dr. Clifford M. Gross, Chairman when there been share dilution and the figures below are nearly all down?
· Net Assets increased 16% to US$26.18m (30 Nov 2019: US$22.53m)
· NAV per share US$0.30 (30 Nov 2019: US$0.35)
· Total Revenue of US$2,859,647 (H1 2019: US$5,401,568)
o Net increase of US$2,422,949 in fair value of portfolio companies
· Revenue from services US$557,684 (H1 2019: $614,394)
· Reduction of operating expenses by 4% to US$711,300 (H1 2019: US$740,947).
o Service revenue cover appx. 58% of current cost base (H1 2019: 63%)
· Profit before tax of US$1,897,629 (H1 2019: US$4,421,279)
· Placements of 14,800,000 new ordinary shares of 0.4 pence each in the Company ("new ordinary shares") to raise gross proceeds of US$962,000 in February 2020 and 9,250,000 new ordinary shares to raise gross proceeds of US$1,115,000 in May 2020.