June 2, 2021
MPC Caribbean Clean Energy Limited (MPCCEL), for the three months ended March 31, 2021, recorded a total expenses amount of US$80,702. The breakdown for total expenses is:
- Accountancy fees closed the period at US$4,000 (2020: US$4,400).
- Administrative fees for the quarter amounted to US$17,443 versus US$28,584 recorded in the prior corresponding quarter.
- Directors’ fees closed the quarter at US$4,625 (2020: US$4,125) and license fees remain unchanged at US$125 when compared to last year same time.
- Insurance expenses amounted to US$4,191 (2020: US$656) while bank charges totaled US$907 (2020: US$943).
- Legal and professional fees were US$16,950 (2020: nil) reported in the prior comparable quarter. While fines and penalties amounted to US$31,696 (2020: nil).
Total loss for the period was reported at US$80,702 relative to loss of US$39,208 reported for the same period last year.
Consequently, loss per share (LPS) for the three months period amounted to US$0.004 (LPS 2020: US$0.002). The trailing twelve-month LPS is US$0.008. The number of shares used in this calculation was 21,666,542 units. MPCCEL and MPCCELUS price closed the trading period at a price of J$127 and US$0.99 on June 01, 2021, respectively.
Balance sheet at a Glance:
Total Assets as at March 31, 2021 closed at US$29.69 million relative to US$19.92 million booked in 2020. This increase was due to an upward movement of ‘Investments-MPC Caribbean Clean Energy Fund LLC’ amounting to US$19.23 million (2020: US$9.91 million), reflecting a 94% year over year increase.
Shareholder’s equity totaled US$19.59 million, 1% decrease when compared to US$19.77 million booked in the prior year. This resulted in a book value per share of US$0.90 compared to US$0.91 booked last year.
Analyst Certification -This research report is for information purposes only and should not be construed as a recommendation. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation (s) or view (s) expressed by that research analyst in this research report.
Company Disclosure -The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.