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DJ Hot Rocks Investments plc: Half Year Results to 30 September 2019

 
 Hot Rocks Investments plc (HRIP) 
Hot Rocks Investments plc: Half Year Results to 30 September 2019 
 
03-Jan-2020 / 07:00 GMT/BST 
Dissemination of a Regulatory Announcement that contains inside information 
according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 
          3 Jan 2020 
 
     HOT ROCKS INVESTMENTS PLC 
 
     ("Hot Rocks" or the "Company") 
 
   UNAUDITED INTERIM FINANCIAL INFORMATION FOR THE PERIOD ENDED 30 SEPTEMBER 
          2019 
 
          CHAIRMAN'S STATEMENT 
 
I hereby present the interim results for the Company for the six months 
ended 30 September 2019. 
 
The Company is an active investor largely in junior natural resources 
companies. 
 
The Company made a total comprehensive loss of GBP62,078 for the period, 
compared to a total comprehensive gain of GBP81,935 for the same period last 
year. The Company will not be paying a dividend. 
 
Cash at bank as at 30 September 2019 was GBP44,189 (30 September 2018: 
GBP47,679). 
 
          We hold stakes in the following entities: 
 
          Bermele plc (LSE:BERM) 
 
          Block Energy plc (AIM:BLOE) 
 
          Brazil Tungsten Holdings Limited 
 
          Copper Bay Limited 
 
          Cora Gold Limited (AIM:CORA) 
 
          Elephant Oil Limited 
 
          Impact Oil & Gas Limited 
 
          Mafula Energy Limited 
 
          MedGold Resources Corp (TSXV:MED) 
 
          Minergy Limited 
 
          Rift Resources Limited 
 
          New Horizon Oil & Gas Limited (trading as t5) 
 
          Royal Road Minerals Limited (formerly Tigris Resources Limited) 
 
          Predator Oil & Gas Holdings PLC (LSE:PRD) 
 
          Tag Oil Limited (TSXV:TAO) 
 
          United Oil & Gas (AIM:UOG) 
 
          Brian Rowbotham 
 
          Non-Executive Chairman 
 
HOT ROCKS INVESTMENTS PLC CONDENSED STATEMENT OF COMPREHENSIVE INCOME 
 
          FOR THE PERIOD ENDED 30 SEPTEMBER 2019 
 
                                           6 months     6 months 
 
                                                 To           To 
 
                                       30 September 30 September 
 
                                               2019         2018 
 
                                          Unaudited    Unaudited 
 
Continuing operations                             GBP            GBP 
 
Revenue                                           -            - 
 
Share based payment                               -            - 
Operating expenses                          (6,806)     (49,516) 
Other gains                                       -       45,829 
Fair value gains/(losses) on               (55,279)       85,617 
financial assets 
                                            _______      _______ 
 
Profit/(Loss) from operations              (62,085)       81,930 
 
               Interest receivable                7            5 
                                            _______      _______ 
 
Profit/(Loss) before taxation              (62,078)       81,935 
 
Income tax expense                                -            - 
                                            _______      _______ 
 
Profit/(Loss) for the period               (62,078)       81,935 
                                            _______      _______ 
 
                                            _______      _______ 
 
Total comprehensive income/(loss)          (62,078)       81,935 
for the period 
                                            _______      _______ 
 
        Earnings per share (pence) 
 
                             Basic           (0.04)         0.05 
                           Diluted           (0.04)         0.05 
 
HOT ROCKS INVESTMENTS PLC CONDENSED STATEMENT OF FINANCIAL POSITION 
 
          AS AT 30 SEPTEMBER 2019 
 
                                              As at        As at 
                                       30 September 30 September 
                                               2019         2018 
                                          Unaudited    Unaudited 
Assets 
                                                  GBP            GBP 
Non-current assets 
 
Financial assets at fair value              356,980      862,588 
through profit and loss 
                                            _______      _______ 
 
                                            356,980      862,588 
                                            _______      _______ 
 
Current assets 
 
Financial assets at fair value              402,576            - 
through profit and loss 
Cash and cash equivalents                    44,189       47,679 
                                            _______      _______ 
 
                                            446,765       47,679 
                                            _______      _______ 
 
Total assets                                803,745      910,267 
                                            _______      _______ 
 
Equity and liabilities 
 
Equity 
 
Called up share capital                     173,602      173,602 
Share premium account                     1,174,631    1,174,631 
Shares based payment reserve                115,600      115,600 
Retained loss                             (838,949)    (659,560) 
                                           ________     ________ 
 
                                            624,884      804,273 
                                            _______      _______ 
Current liabilities 
 
Trade and other payables                    178,861      105,994 
                                            _______      _______ 
 
Total equity and liabilities                803,745      910,267 
                                            _______      _______ 
 
          HOT ROCKS INVESTMENTS PLC CONDENSED CASH FLOW STATEMENT 
 
          FOR THE PERIOD ENDED 30 SEPTEMBER 2019 
 
                                        6 months to  6 months to 
                                       30 September 30 September 
                                               2019         2018 
                                          Unaudited    Unaudited 
                                                  GBP            GBP 
 
Cash flows from operating activities 
Operating profit/(loss)                    (62,078)       53,673 
Adjustments: 
Fair value adjustment of financial           55,279     (85,617) 
assets through profit and loss 
Loss / (Gains) on disposal of                     -     (45,829) 
financial assets through profit and 
loss 
 
Charge for share based payments 
 
                                                  -            - 
 
Finance income 
 
                                                (7)          (5) 
 
Movements in working capital: 
Decrease/(increase) in trade and other            -            - 
receivables 
Increase/(decrease) in trade and other       14,648       28,678 
payables 
                                            _______      _______ 
 
Net cash used in operating activities         7,842     (49,100) 
                                            _______      _______ 
 
Cash flows from investing activities 
   Proceeds from disposal of financial      128,252       80,063 
        assets through profit and loss 
       Acquisition of financial assets    (139,576)            - 
               through profit and loss 
                                           ________     ________ 
 
Net cash used in investing activities      (11,324)       80,063 
                                           ________     ________ 
 
Cash flows from financing activities 
Interest received                                 7            5 
                                           ________     ________ 
 
Net cash from financing activities                7            5 
                                           ________     ________ 
 
Increase/(decrease) in cash and cash        (3,489)     (30,968) 
equivalents 
                                           ________     ________ 
 
Cash and cash equivalents at the             47,678       16,710 
beginning of the period 
                                           ________     ________ 
 
Cash and cash equivalents at the end         44,189       47,678 
of the period 
                                           ________     ________ 
 
          HOT ROCKS INVESTMENTS PLC ACCOUNTING POLICIES 
 
          FOR THE PERIOD ENDED 30 SEPTEMBER 2019 
 
1 Financial Information 
*********************** 
 
       The financial information set out above does not constitute statutory 
accounts within the meaning of Section 434 of the Companies Act 2006. It has 
   been prepared on a going concern basis in accordance with the recognition 
 and measurement criteria of the International Financial Reporting Standards 
          (IFRS) as adopted by the European Union. 
 
    The accounting policies used in the preparation of this set of condensed 
       interim financial statements are consistent with those set out in the 
     Company's annual financial statements for the year ended 31 March 2019. 
    Statutory accounts for the year ended 31 March 2019 were approved by the 
    Board of Directors on 4 September 2019 and delivered to the Registrar of 
      Companies. The report of the independent auditor on those accounts was 
          unqualified. 
 
The financial information for the six months ended 30 September 2019 has not 
     been reviewed. As permitted, the Company has chosen not to adopt IAS 34 
          "Interim Financial Statements" in preparing this interim financial 
          information. 
 
          Risks and Uncertainties 
 
 The Board continuously assesses and monitors the key risks of the business. 
   The key risks that could affect the Company's medium-term performance and 
   the factors that mitigate those risks have not substantially changed from 
          those discussed in the Financial Statements to 31 March 2019. 
 
          Critical accounting estimates 
 
      The preparation of the condensed interim financial statements requires 

(MORE TO FOLLOW) Dow Jones Newswires

January 03, 2020 02:00 ET (07:00 GMT)

DJ Hot Rocks Investments plc: Half Year Results to -2-

       management to make estimates and assumptions that affect the reported 
   amounts of assets and liabilities and disclosure of contingent assets and 
liabilities at the end of the reporting period. Significant items subject to 
 estimates are set out in the accounting policies of the Company's Financial 
          Statements to 31 March 2019. 
 
         The Directors of the issuer are responsible for the content of this 
          announcement. 
 
          For further information please contact: 
 
          Hot Rocks Investments plc 
 
          Gavin Burnell: 020 7264 4444 
 
          Peterhouse Capital Limited 
 
          Guy Miller: 020 7220 9795 
 
ISIN:          GB00B1WV3198 
Category Code: MSCH 
TIDM:          HRIP 
Sequence No.:  38391 
EQS News ID:   946157 
 
End of Announcement EQS News Service 
 
 

(END) Dow Jones Newswires

January 03, 2020 02:00 ET (07:00 GMT)