Ciboney Group Limited (CBNY) reported total revenue of $1,000 relative to the $2,000 reported for the prior financial year. No revenue was reported for the quarter (2022: $1,000).

Administrative and general expenses closed the year at $3.72 million, a 20% decline from the $4.62 million recorded in 2022. Within the quarter, the group’s administrative expenses closed at $1.67 million (2022: $562,000).

Loss before taxation closed the period under review at $3.72 million (2022: $4.62 million). While loss before taxation for the quarter amounted to $1.67 million versus a loss of $562,000 for the similar quarter of 2022.

Net loss closed at $3.72 million, 20% less than the loss of $4.62 million for 2022. However, for the quarter, net loss amounted to $1.67 million versus $561,000 booked twelve months earlier.

As such, loss per share (LPS) for the year amounted to $0.680 (2022: $0.847). LPS for the fourth quarter amounted to $0.677 (2022: $0.839). The number of shares used in our calculations is 546,000,000. CBNY last traded on June 30, 2023 at a price of $ 0.89.

Balance Sheet at a Glance:

CBNY posted total assets of $156,000, 96% less than the $3.66 million booked as at May 31, 2022. The decline was mainly attributable to a 96% decline in ‘Income Tax Recoverable’ which closed at $93,000 compared to $2.63 million in the previous comparable year.

Shareholder’s deficit for the year end was $10.62 million relative to the $6.90 million reported last year. As such, shareholder’s deficit per share was $0.019 (2022: shareholders’ deficit per share of $0.013).

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