May 14, 2025
MPC Caribbean Clean Energy Limited(MPCCEL)
Unaudited financials for the first quarter ended March 31, 2025:
MPC Caribbean Clean Energy Limited (MPCCEL) for the first quarter ended March 31, 2025 reported a valuation gain on investment totaling US$171,122 (2024: nil).
Dividend Income amounted to US$90,261 (2024: US$265,380), this represents a decrease of 66% year over year. Consequently, total investment income decreased by 2% to US$261,383 compared to US$265,380 for the first quarter ended March 31, 2024.
Total Expenses for the three months had a 617% increase to reach US$239,209 (2024: US$33,343). The breakdown for total expenses is as follows:
- Accountancy fees closed at US$4,000 (2024: US$2,800).
- Administrative fees amounted to US$20,430 versus US$15,443 recorded in the corresponding quarter for 2024.
- Advertising Costs decreased to US$2,102 (2024: US$2,225).
- Directors’ fees increased to US$21,125 (2024: US$6,750)
- Management fees amounted to US$154,276 (2024: nil)
- Legal and professional fees increased to US$26,704 (2024: US$853).
- Insurance expenses amounted to US$8,669 (2024: US$4,220).
- Bank charges totalled US$1,404 (2023: US$802).
- Corporate fee increased to US$375 (2024: US$250).
- Licenses fees totalled US$124 (2024: nil).
Profit for the period amounted to US$22,174, a 90% decrease from the US$232,037 reported in 2024.
Consequently, Earnings Per Share for the three months amounted to US$0.001 (2024: EPS: US$0.01). The twelve-month trailing LPS was US$0.11, and the number of shares used in these calculations was 26,944,861. Notably, MPCCEL’s stock price closed the trading period on May 13, 2025 at a price of $63.00.
Balance Sheet Highlights
The company’s assets totaled US$33.24 million (2024: US$30.66 million). The movement in total assets was primarily attributable to a 133% increase in ‘Cash and cash equivalents’ amounting to US$617,074 (2024: US$219,505) and ‘Financial assets held for sale’ amounting to US$5.87 million (2024: nil).
Shareholder’s equity was US$1.00 (2024: US$1.00), representing a book value per share of US$0.00 (2024: US$0.00).
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