Date: October 11, 2018 

Ciboney Group Limited (CBNY) for the quarter ended August 31, 2018 reported Financial Income increasing by 45% to total $16,000 from $11,000 in August 31, 2017.

Group Operating Expenses totalled $1.12 million as at August 31, 2018 relative to $1.06 million for the corresponding period in 2017 a 45% increase.

The company reported net loss before taxation of $1.10 million, this compares with the loss of $1.05 million in 2017.

Following taxation of $60,000, Ciboney reported net loss after tax of $1.16 million compared to a net loss of $1.11 million booked for the corresponding period in 2017.

Net loss per share (LSP) was 0.21 cents for the quarter ended August 31, 2018 (2017: loss per share of 0.21 cents). The trailing twelve months loss per a share is $ 52.83. The number of shares used in the calculations is 546,000,000.  CBNY stock price closed the trading period at a price of $0.18 on  August 11, 2018.

Balance Sheet at a glance:

Total current assets as at August 31, 2018 amounted to $17.66 million, down from $52.00 million as at August 31, 2017. The main reason for the decline in total asset was Resale Agreement. Resale Agreement for the year contracted 100% compared to the  $44.0 million reported in 2017.

Shareholders’ Equity amounted to $12.96 million, an increase relative to the deficit of $48.78 million deficit reported in 2017. As such, the shareholder’s deficit per share stood at $2.37 cents as at August 31, 2017 (2017: $8.93 cents).