November 11, 2022
Total expenses for the period under review amounted to US$122,730 (2021: US$156,073). The breakdown for total expenses is as follows:
- Accountancy fees remained at US$6,600 year over year.
- Administrative fees declined 13% to US$41,172 (2021: US$47,118).
- Administrative compensation fell 67% to US$12,030 (2021: US$36,364).
- Advertising fees grew 80% to US$ 22,127 (2021: US$12,260).
- Audit fees fell 85% to US$875 (2021: US$5,875).
- Bank charges grew 38% to US$2,851 (2021: US$2,059).
- Director’s fees remained at US$13,875 year over year.
- Legal & professional fees fell 66% to US$6,174 (2021: US$$17,972).
- License fees remained at US$375 year over year.
- Corporate fees remained at US$1,125 year over year
- Insurance expenses rose 25% to US$15,526 (2021: US$12,450).
Total loss for the period was reduced 21% to US$122,730 (2021: US$156,073). However, for the quarter, total loss grew 14% to US$40,335 (2021: US$35,244).
Consequently, loss per share (LPS) as at September 30, 2022 amounted to US$0.006 (2021: LPS of US$0.007). For the quarter, it remained at US$0.002. The trailing twelve-month EPS amounted US$0.054. The number of shares used in this calculation was 21,666,542 shares. MPCCEL and MPCCELUS price closed the trading period at a price of J$84 and US$0.65 on November 10, 2022 respectively.
Balance Sheet at a Glance:
Total Assets for the period grew 4% to US$30.79 million (2021: US$29.64 million). This upward movement is due to ‘Investment – MPC Caribbean Clean Energy Fund LLC’ which closed at US$30.57 million (2021: US$29.23 million).
Shareholder’s equity totalled US$20.69 million (2021: US$19.51 million). This resulted in a book value per share of USD$0.95 (2021: US$0.99).
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