October 13, 2023
Ciboney Group Limited (CBNY) for the first quarter ended August 31, 2023, reported no revenue relative to the $1,000 reported for the same period last year.
Contribution towards prior year audit fees by party to sale agreement dated June 29, 2023, represented as Other Income amounted to $500,000.
Group Operating Expenses closed the first quarter at $68,000 relative to $347,000 recorded in 2022.
Operating Profit closed the period under review at $432,000 (2022: Operating loss of $346,000).
Net profit after tax closed at $432,000, compared to a Net loss after tax of $346,000 recorded in 2022.
Consequently, Earnings Per Share for the three months amounted to $0.001 (2022: LPS: $0.001). The twelve-month trailing LPS was $0.01, and the number of shares used in these calculations was 546,000,000.
Notably, CBNY’s stock price closed the trading period on October 12, 2023, at a price of $1.32.
Balance Sheet Highlights
The company’s assets totalled $171,000 (2022: $3.65 million). The decline was mainly due to a $2.53 million fall in Income Tax Recoverable to total $93,000.
Shareholder’s deficit was $10.19 million (2022: Shareholder’s deficit of $6.90 million), representing a shareholder’s deficit per share of $0.019 (2022: shareholder’s deficit per share of $0.013).
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