STALLION RESOURCES PLC (the 'Company')
Stallion Resources plc is pleased to announce its unaudited results for the six months ended 30 June 2014.
In the period, the Company disposed of its subsidiaries and business and as a result is now classified as an investing company under AIM Rule 15. At the same time, the previous directors resigned and Cameron Pearce and I were appointed to the Board, the Company changed its name to Stallion Resources plc and the Company raised £300,000 before costs. The Company made a profit before income tax of £123,077, largely due to a write back of liabilities on the restructuring.
During the period in question, the Company's Board and management have reviewed a number of project and investment opportunities in a number of different sectors. The Company will keep shareholders informed of any material developments in that regard
.
On behalf of the Board on 29 September 2014.
Non-Executive Chairman
For further information, please contact:
George Frangeskides (Company Secretary)
Eran Zucker
Cost of sales - (21,703)
Administrative expenses (78,505) (212,365)
Write-off of balances on disposal of
investments 209,860 -
Finance revenue - 8,042
Finance costs (8,278) (4,577)
Income tax expense - -
Profit/(Loss) per share from continuing operations attributable to the equity holders of
the company during the period 0.00p 0.00p
Profit/(Loss) for the period 123,077 (228,491)
Currency translation differences 762 106,830
- 1,007,965
- 121,251
Current assets | - | 1,129,216 |
Trade and other receivables | 11,865 | 364,144 |
Cash and cash equivalents | 365,040 | 573,289 |
376,905 937,433
EQUITY AND LIABILITIES Equity attributable to owners of the parent | ||
Ordinary shares | 335,564 | 151,287 |
Share premium account | 2,505,416 | 2,281,034 |
Accumulated losses | (2,554,399) | (577,257) |
Total equity | 286,581 | 1,855,064 |
Liabilities Current liabilities Trade and other payables | 67,018 | 136,794 |
Taxes | 567 | 5,020 |
Other creditors | - | 52,667 |
Accruals and deferrals | 22,739 | 17,104 |
Total liabilities | 90,324 | 211,585 |
TOTAL EQUITY AND LIABILITIES | 376,905 | 2,066,649 |
CONSOLIDATED STATEMENT OF CASH FLOWS For the period from 1 January 2014 to 30 June 2014 | Period | Period |
to 30.06.14 | to 30.06.13 | |
€ | € | |
Cash flow from operating activities Cash used by operations | (92,546) | (1,178,683) |
Cash flows from investing activities Purchases of property, plant and equipment | - | (35,390) |
Purchase of intangibles | - | (423,970) |
Net cash used in investing activities | - | (459,360) |
Cash flows from financing activities Net proceeds from issue of ordinary shares | 355,549 | 812,168 |
Interest received | - | 8,042 |
Interest paid | (8,278) | (4,577) |
Net cash generated from financing activities | 347,271 | 815,633 |
Net increase in cash & cash equivalents | 254,725 | (822,410) |
Exchange losses on cash and cash equivalents | - | (506) |
Cash & cash equivalents brought forward | 110,315 | 1,396,205 |
Cash & cash equivalents at end of the period | 365,040 | 573,289 |
Basic loss per share is calculated by dividing the profit or loss attributable to equity holders of the Company by the weighted average number of Ordinary Shares in issue during the period.
Group | € | € |
Profit/(Loss) attributable to equity holders of the | ||
Company | 123,839 | (121,661) |
Weighted average number of Ordinary Shares in
issue 575,757,786 431,313,342
At 1 January 2014 (2,678,238)
Profit for the period from continuing operations 123,077 Other comprehensive income -
Translation of period end balances 762
At 30 June 2014 (2,554,399)
ENDS
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distributed by
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