C2W Reports Net Loss of US$$11,311 for the First Quarter

Date: July 19, 2018

C2W Music Limited (C2W), revenue  remained unchanged as zero returns were recorded for the three months ended March 31, 2018.

C2W incurred US$9, 816 for total expenses, a 54% increase compared to US$6,394 last year for the comparable period.

Consequently, C2W reported an operating loss for the quarter of US$11,311 by 39% versus an operating loss of US$8,110 booked in 2017.

The company recorded finance cost of US$1,495 for the quarter relative to US$1,716 the for the prior year’s corresponding period.

No taxes were recorded for the period. As such, the loss for the period was US$11,311, this compares with the US$6,610 net loss booked for the same period the quarter prior.

Loss per share (LPS) amounted to US$0.003 cents, compared to the 2017 loss per share of US$0.002 cents for the comparable period of 2017. The trailing LPS amounted to US$0.0008.  The number of shares used in our calculations is 400,000,000.

Balance sheet at a glance: –

As March 31, 2018, assets amounted to US$3,363 which was a 98.8% decline than the US$280,121 recorded last year. The decrease was mainly due to a decline in Advances to Songwriters.

Shareholder’s deficit closed at a US$247,842 relative to a shareholder’s equity of US$60,504 in prior year’s correspondng period This resulted in a negative book value per share of US$0.0006 compared to US$0.0002 a year earlier.

 

 

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2018-07-19T21:56:30+00:00