CBNY reports six months net loss of $2.53 million

January 10, 2022

Financial Income decreased by 75% to total $1,000 from $4,000 in November 30, 2020. For the quarter, financial income closed at $1,000 (2020: $2,000).

Group Operating Expenses totalled $2.53 million for the period relative to $2.25 million for the corresponding period in 2020, an 8% increase. While, for the quarter, group operating expenses amounted to $1.85 million (2020: $1.21 million).

The company reported net loss before taxation of $2.53 million, this compares with the loss of $2.25 million in 2020.

No taxes were incurred during the period under review as such, the company booked net loss for the period of $2.53 million (2020: $2.25 million). For the quarter, net loss amounted to $1.85 million (2020: net loss of $1.21 million).

Loss per share was 0.46 cent for the period (2020: LPS of 0.43 cent). While, for the quarter, loss per share amounted to $0.34 cent (2020: LPS of 0.22 cent). The trailing twelve months loss per a share is 1.00 cent. The number of shares used in the calculations is 546,000,000.  CBNY stock price closed the trading period at a price of $0.78 on January 07, 2022.

Balance Sheet at a glance: Total Assets as at November 30, 2021 amounted to $6.49 million, down from $12.06 million as at November 30, 2020. The main reason for the decrease in total asset was ‘Cash and Cash Equivalents’ moving down by 88% to close at $774,000 compared to the $6.35 million reported in 2020. 

Shareholders’ Deficit amounted to $4.81 million relative to shareholders’ equity of $637,000 reported in 2020. As such, the shareholder’s deficit per share stood at 0.88 cent as at November 30, 2021 relative to shareholder’s equity per share of 0.12 cent as at November 30, 2020.



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