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DJ Early Equity Plc Interim Results

 
TIDMEEQP 
 
06 June 2016 
 
                               EARLY EQUITY PLC 
 
                       ("Early Equity" or the "Company") 
 
                                Interim Results 
 
Executive Director's Statement 
 
I am pleased to present the unaudited interim results for the Company for the 
 six month period ended 29th February 2016. 
 
Results and Review of Business 
 
The loss for the period was GBP45,940 (2015: GBP50,586) representing a loss per 
share of 0.01p (2015: 0.01p). Although the accounts show a loss for the period, 
this is reflective of the early stage development of the two recent investments 
made by the company. 
 
The value of our investment portfolio significantly increased to GBP 622,637 
(2015 - GBP 153,650) bolstered by the investment in Yicom Global Sdn Bhd 
('Yicom'). The Company continue to hold shares in Universal Outdoor Group Plc 
(previously known as Tangibal Group Plc) (quoted on the Frankfurt Börse), Alpha 
Prospects Plc and BWA Group Plc (quoted on ISDX). The Directors will continue 
to seek opportunities to realise these investments. During the last twelve 
months, we have also invested GBP25,000 of cash to secure a 5% stake in Devilfish 
Poker Limited ('Devilfish') 
 
On the 15th October 2015, the Company were pleased to announce the appointment 
of Alexander David Securities Limited. 
 
Post Balance Sheet Events 
 
On the 27th May 2016 the Company was pleased to announce the appointment of Tee 
Lian Hing (Barry) to the board. Barry is working closely with Yicom Global Sdn 
Bhd to develop sales, marketing strategies, brand planning and 
business-development strategies. Yicom Global Sdn Bhd aims to further expand 
the sales volume for their health supplement products and drive revenue growth 
in Malaysia and the Asia Pacific Region. 
 
Outlook 
 
Within the last twelve months, the Company has made two investments in 
Devilfish Poker Limited and Yicom Global Sdn Bhd repectively. These investments 
are still in early stage development and the board are working closely with the 
management of both parties - we remain confident that these investments will 
prove successful. We are pleased to report that Devilfish, a well-known brand 
in online casino is now revenue generating. In Qtr1 over 25,000 players 
registered on the site with over 1,200 depositors. White Hat Gaming the 
provider of software and payment processing services to Devilfish (www. 
devilfish.com) are regulated by UK Gambling Commission. Yicom has continued to 
increase its network of sales agents and sales volume each month. 
 
 The Company continues to seek further acquisitions that meet its investment 
criteria and intend to raise additional funds in the future when suitable 
investment opportunities present. 
 
The Company's investment strategy is to invest in early stage, small to medium 
high-growth enterprises around the world. The Directors will continue to 
evaluate suitable investments opportunities. 
 
On behalf of the Board, I would like to take this opportunity to thank 
shareholders and professional advisers for their continued support of the 
Company. 
 
Chua Siew Lian 
 
Executive Director 
 
31 May 2016 
 
CONSOLIDATED INTERIM STATEMENT OF COMPREHENSIVE INCOME 
 
FOR SIX MONTHS TO 29 FEBURARY 2016 
 
                                               6 months to        6 months to 
                                             29 February 2016  28 February 2015 
 
CONTINUING OPERATIONS                              GBP                GBP 
 
TURNOVER                                            -                  - 
 
OTHER INCOME                                        -                  - 
 
ADMINISTRATIVE EXPENSES                          (46,502)          (37,445) 
 
OTHER OPERATING EXPENSES                           954             (12,972) 
 
FINANCE COSTS                                     (392)              (169) 
 
(LOSS) BEFORE TAX                                (45,940)          (50,586) 
 
INCOME TAX                                                             - 
 
(LOSS) FOR THE YEAR / PERIOD                     (45,940)          (50,586) 
 
OTHER COMPREHENSIVE INCOME / (LOSS) 
 
Loss on fair value changes of                       -                  - 
available-for-sale financial assets 
 
Reclassification of fair value gain on              -                  - 
disposal 
of available-for-sale financial assets 
 
OTHER COMPREHENSIVE INCOME / (LOSS) FOR THE         -                  - 
YEAR / PERIOD 
 
TOTAL COMPREHENSIVE LOSS FOR THE YEAR /          (45,940)          (50,586) 
PERIOD 
 
BASIC AND DILUTED LOSS PER SHARE                 (0.01)p            (0.01)p 
 
CONSOLIDATED STATEMENT OF FINANCIAL POSITION 
AS AT 29 FEBRUARY 2016 
 
                                               6 months to        6 months to 
                                             29 February 2016  28 February 2015 
 
                                                   GBP                GBP 
 
INVESTMENTS 
 
Available-for-sale financial assets              622,637            153,650 
 
CURRENT ASSETS 
 
Trade and other receivables                       1,394             24,413 
 
Cash and cash equivalents                        146,341            121,994 
 
                                                 147,735            146,407 
 
CURRENT LIABILITIES 
 
Trade and other payables                          (100)            (20,515) 
 
Unsecured loan 
 
                                                  (100)            (20,515) 
 
NET CURRENT ASSETS / (LIABILITIES)               147,635            125,892 
 
NET ASSETS                                       770,272            279,542 
 
REPRESSENTING:- 
 
Share capital                                    809,623            674,623 
 
Share premium                                    683,590            211,090 
 
                                                1,493,213           885,713 
 
Fair value reserve                                 49,031            46,631 
 
Accumulated losses                              (771,972)          (652,802) 
 
SHAREHOLDERS FUNDS                               770,272            279,542 
 
The interim financial information for the six months ended 29 February 2016 is 
neither audited nor reviewed, but has been prepared in accordance with the 
accounting policies set out in the Company's annual report and accounts for the 
year ended 31 August 2015. 
 
The Directors of the Company accept responsibility for the announcement. 
 
                                    --ENDS- 
 
Enquiries: 
 
Early Equity Plc 
Greg Collier 
Tel: +44 (0)78 3018 2501 
 
ISDX CORPORATE ADVISER: 
 
Alexander David Securities Limited 
David Scott - Corporate Finance 
James Dewhurst - Institutional Sales 
Telephone: +44 (0) 20 7448 9820 
http://www.ad-securities.com 
 
49 Queen Victoria Street, London EC4N 4SA 
 
 
 
END 
 

(END) Dow Jones Newswires

June 06, 2016 07:32 ET (11:32 GMT)