CBNY reports net loss of $1.07 million for three months ended August 2019

October 22, 2019

 

Ciboney Group Limited (CBNY), for the three months ended August 31, 201, reporteda 44% decrease  financial income to total $9,000 from $16,000 in August 31, 2019.

Group Operating Expenses totalled $1.08 million for the period relative to $1.12 million for the corresponding period in 2018 a 3% decline.

The company reported net loss before taxation of $1.074 million, this compares with the loss of $1.10 million in 2018.

The Company incurred no tax expenses for the first three months ended August 31, 2019 relative to $60,000 for the same period in 2018. As a result, the Company booked net loss for the period of $1.07 million (2018: $1.16 million)

Net loss per share was 0.20 cents for the period (2018: loss per share of 0.21 cents). The trailing twelve months earnings per a share is $0.82 cents. The number of shares used in the calculations is 546,000,000.  CBNY stock price closed the trading period at a price of $0.10 on October 18, 2019.

 

Balance Sheet at a glance:

Total Assets as at August 31, 2019 amounted to $12.64 million, down from $17.66 million as at August 31, 2018. The main reason for the decline in total assets was ‘Cash and Cash Equivalents’ contracting 42% to $6.93 million compared to the $11.85 million reported in 2018.

Shareholders’ Equity amounted to $7.95 million, an increase relative to the $12.96 million deficit reported in 2018. As such, the shareholder’s deficit per share stood at $0.01 as at August 31, 2019 (2018 shareholder’s deficit per share: $0.02).

 

 

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.

2019-10-22T15:03:07+00:00