CBNY repors net loss of $3.92 million for nine months ended

April 23, 2019 

Ciboney Group Limited (CBNY) for the nine months ended February 28, 2019, financial Income declined by 97% to total $43,000 from $1.68 million in February 2018.

No exchange loss was booked for the period relative to a loss of $103,000 for the corresponding period in 2018.

Group Operating Expenses totalled $3.96 million for the period relative to $5.78 million for the corresponding period in 2018 a 31% decline.

The company reported net loss after taxation of $3.92 million, this compares with the profit of $252.48 million in 2018.

Net loss per share was $0.72 cents for the period (2018: earnings per share of $46.24 cents). The trailing twelve months earnings per a share is $5.88 cents. The number of shares used in the calculations is 546,000,000.  CBNY stock price closed the trading period at a price of $0.12 on April 18, 2019

Balance Sheet at a glance:

Total Assets as at February 28, 2019 amounted to $14.63 million, down from $205.90 million as at February 28, 2018. The main reason for the decline in total asset ‘Cash and Cash Equivalents’ contracting 96% to total $8.82 million compared to the $200.10 million reported in 2018.

Shareholders’ Equity amounted to $10.20 million, a decline relative to the $204.82 million reported in 2018. As such, the book per share stood at $0.019 cents as at as at February 28, 2019 (2018: $0.375 cents).

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