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).



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