Ciboney reports $1.11 million three month net loss for quarter ended August 2017

Ciboney Group Limited (CBNY)

For the quarter ended August 31, 2017:

  • Financial Income declined by 73% to total $11,000 from $40,000 in August 31, 2017.
  • An exchange loss of $28,000 was realized relative to $132,000 gain for the corresponding period in 2016.
  • Group Operating Expenses totalled $1.03 million as at August 31, 2017 relative to $1.3 million for the corresponding period in 2016 a 20% decline.
  • The company reported net loss of $1.05 million, this compares with the loss of $1.13 million in 2016.
  • Net loss per share was 0.19 cents for the quarter ended August 31, 2017 (2016: loss per share of 0.21 cents). The trailing twelve months loss per a share is 0.67 cents. The number of shares used in the calculations is 546,000,000.

 

Balance Sheet at a glance:

  • Total current assets as at August 31, 2017 amounted to $52 million, down from $57.23 million as at August 31, 2016. The main reason for the decline in total asset was Resale Agreement. Resale Agreement for the year totalled $2.40 million, 67% less than the $7.34 million reported in 2016.
  • Shareholders’ Deficit amounted to $48.78 million, an increase relative to the $43.55 million deficit reported in 2016, resulting from the increase in Ciboney’s accumulated deficit from $424.42 million to $419.20 million.  As such, the shareholder’s deficit per share stood at 8.93 cents as at August 31, 2017 (2016: 7.98 cents).

2017-10-18T17:12:37+00:00