Hot Rocks Investments plc: Interim Results to 30 September 2018 (762737)
02 Janvier 2019 - 8:01AM
UK Regulatory
Dow Jones received a payment from EQS/DGAP to publish this press
release.
Hot Rocks Investments plc (HRIP)
Hot Rocks Investments plc: Interim Results to 30 September 2018
02-Jan-2019 / 07:00 GMT/BST
Dissemination of a Regulatory Announcement that contains inside information
according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
2 January 2019
HOT ROCKS INVESTMENTS PLC
("Hot Rocks" or the "Company")
UNAUDITED INTERIM FINANCIAL INFORMATION FOR THE PERIODED 30 SEPTEMBER
2018
CHAIRMAN'S STATEMENT
I hereby present the interim results for the Company for the six months
ended 30 September 2018.
The Company is an active investor largely in junior natural resources
companies and we have experienced a turbulent first half in this sector.
Nonetheless our portfolio has performed satisfactorily and we are excited
about new additions to our portfolio such as Predator Oil & Gas (LSE:PRD).
The Company made a total comprehensive gain of GBP81,935 for the period,
compared to a total comprehensive loss of GBP10,259 for the same period last
year. The Company will not be paying a dividend.
Cash at bank as at 30 September 2018 was GBP47,679 (30 September 2017:
GBP7,446).
We hold stakes in the following entities:
Brazil Tungsten Holdings Limited
Copper Bay Limited
Elephant Oil Limited
Block Energy plc (formerly Goldcrest Resources plc)
Impact Oil & Gas Limited
Mafula Energy Limited
MedGold Resources Corp
Minergy Limited
Rift Resources Limited
New Horizon Oil & Gas Limited (trading as t5)
Royal Road Minerals Limited (formerly Tigris Resources Limited)
Upland Resources Limited
N4 Pharma PLC
Predator Oil & Gas Holdings PLC
The interim results have not been reviewed by the Company's auditors.
Brian Rowbotham
Non-Executive Chairman
The Directors of the issuer are responsible for the content of this
announcement.
For further information please contact:
Hot Rocks Investments plc
Gavin Burnell: 0207 264 4366
Peterhouse Capital Limited
Guy Miller: 020 7220 9796
HOT ROCKS INVESTMENTS PLC CONDENSED STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIODED 30 SEPTEMBER 2018
6 months 6 months
To To
30 September 30 September
2018 2017
Unaudited Unaudited
Continuing operations GBP GBP
Revenue - -
Share based payment - (115,600)
Operating expenses (49,516) (24,354)
Other gains 45,829 18,510
Fair value gains/(losses) on 85,617 111,181
financial assets
_______ _______
Profit/(Loss) from operations 81,930 (10,263)
Interest receivable 5 4
_______ _______
Profit/(Loss) before taxation 81,935 (10,259)
Income tax expense - -
_______ _______
Profit/(Loss) for the period 81,935 (10,259)
_______ _______
_______ _______
Total comprehensive income/(loss) 81,935 (10,259)
for the period
_______ _______
Earnings per share (pence)
Basic 0.05 -
Diluted 0.05 -
HOT ROCKS INVESTMENTS PLC CONDENSED STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2018
As at As at
30 September 30 September
2018 2017
Unaudited Unaudited
Assets
GBP GBP
Non-current assets
Financial assets at fair value 862,588 945,220
through profit and loss
_______ _______
862,588 945,220
_______ _______
Current assets
Other receivables - -
Cash and cash equivalents 47,679 7,446
_______ _______
47,679 7,446
_______ _______
Total assets 910,267 952,666
_______ _______
Equity and liabilities
Equity
Called up share capital 173,602 173,602
Share premium account 1,174,631 1,174,631
Shares based payment reserve 115,600 115,600
Retained loss (659,560) (610,925)
________ ________
804,273 852,908
_______ _______
Current liabilities
Trade and other payables 105,994 99,758
_______ _______
Total equity and liabilities 910,267 952,666
_______ _______
HOT ROCKS INVESTMENTS PLC CONDENSED CASH FLOW STATEMENT
FOR THE PERIODED 30 SEPTEMBER 2018
6 months to 6 months to
30 September 30 September
2018 2017
Unaudited Unaudited
GBP GBP
Cash flows from operating activities
Operating profit/(loss) 53,673 (10,259)
Adjustments:
Fair value adjustment of financial (85,617) (111,181)
assets through profit and loss
Loss / (Gains) on disposal of (45,829) -
financial assets through profit and
loss
Charge for share based payments
- 115,600
Finance income
(5) (4)
Movements in working capital:
Decrease/(increase) in trade and other - 720
receivables
Increase/(decrease) in trade and other 28,678 (1,738)
payables
_______ _______
Net cash used in operating activities (49,100) (6,862)
_______ _______
Cash flows from investing activities
Proceeds from disposal of financial 80,063 2,088
assets through profit and loss
________ ________
Net cash used in investing activities 80,063 2,088
________ ________
Cash flows from financing activities
Interest received 5 4
________ ________
Net cash from financing activities 5 4
________ ________
Increase/(decrease) in cash and cash (30,968) (4,770)
equivalents
________ ________
Cash and cash equivalents at the 16,710 12,216
beginning of the period
________ ________
Cash and cash equivalents at the end 47,678 7,446
of the period
________ ________
HOT ROCKS INVESTMENTS PLC ACCOUNTING POLICIES
FOR THE PERIODED 30 SEPTEMBER 2018
1 Financial Information
***********************
The financial information set out above does not constitute statutory
accounts within the meaning of Section 434 of the Companies Act 2006. It has
been prepared on a going concern basis in accordance with the recognition
and measurement criteria of the International Financial Reporting Standards
(IFRS) as adopted by the European Union.
The accounting policies used in the preparation of this set of condensed
interim financial statements are consistent with those set out in the
Company's annual financial statements for the year ended 31 March 2018.
Statutory accounts for the year ended 31 March 2018 were approved by the
Board of Directors on 31 August 2018 and delivered to the Registrar of
Companies. The report of the independent auditor on those accounts was
unqualified.
The financial information for the six months ended 30 September 2018 has not
been reviewed. As permitted, the Company has chosen not to adopt IAS 34
"Interim Financial Statements" in preparing this interim financial
information.
Risks and Uncertainties
The Board continuously assesses and monitors the key risks of the business.
The key risks that could affect the Company's medium-term performance and
the factors that mitigate those risks have not substantially changed from
those discussed in the Financial Statements to 31 March 2018.
Critical accounting estimates
The preparation of the condensed interim financial statements requires
management to make estimates and assumptions that affect the reported
amounts of assets and liabilities and disclosure of contingent assets and
liabilities at the end of the reporting period. Significant items subject to
estimates are set out in the accounting policies of the Company's Financial
Statements to 31 March 2018.
ISIN: GB00B1WV3198
Category Code: MSCU
TIDM: HRIP
Sequence No.: 7079
EQS News ID: 762737
End of Announcement EQS News Service
(END) Dow Jones Newswires
January 02, 2019 02:01 ET (07:01 GMT)
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