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Blockchain Worldwide PLC   -  BLOC   

Half-year Report

Released 07:00 08-May-2018

RNS Number : 2410N
Blockchain Worldwide PLC
08 May 2018
 

 

BLOCKCHAIN WORLDWIDE PLC

("Blockchain" or "the Company")

 

Interim Report for the period ended 31 December 2017

  

Blockchain (ticker: BLOC) announces its unaudited interim financial results for the period ended 31 December 2017.

 

Period highlights

 

·     On 21 September 2017, the Company was admitted to the standard segment of the Official List and to trading on the London Stock Exchange's Main Market 

·     Raised £1.5 million cash (gross) through the listing of 30,000,000 new ordinary shares

 

Post period highlight

 

·     Change in strategy from investing in telecoms to seeking business in the blockchain technology sector and changed name to Blockchain Worldwide plc

 

Jon Hale, Chairman of Blockchain said: "Since the revision in investment strategy and name change, Blockchain has been analysing a number of tremendously exciting opportunities. We continue to make good progress towards a potentially game changing deal within the blockchain space and will update the market as soon as we are able."

 

 

For information please contact:

 

Blockchain Worldwide plc

www.bloc-worldwide.com

Rodger Sargent

via Walbrook PR

 

 

Walbrook PR Ltd

Tel: 020 7933 8780 or blockchainworldwide@walbrookpr.com

Paul Cornelius

Mob: 07866 384 707

Sam Allen

Mob: 07884 664 686

 

 

 

 

CHAIRMAN'S STATEMENT

 

 

Introduction

 

I am pleased to present the unaudited interim results for the period ended 31 December 2017.

 

Blockchain floated on to the standard listing of the official list on the London Stock Exchange on 21 September 2017, with the name Stapleton Capital plc. The Company was created to acquire a company or business in the telecoms sector.

 

During this interim period, Blockchain recorded a loss of £7,501, being the minimal running costs of the company. As the directors draw no salary, the ongoing costs are only minor administrative expenses. Cash assets at period end were nearly £1.45 million with no debts.

 

During the period, the Directors identified a number of blockchain technology investment opportunities. Blockchain is a digital networked database system of ledgers that can record almost any type of data or transaction. Currently blockchain's mainstream use is as the basis for digital currency, however it has applications across multiple other industries. It is within these industries that the Directors believe the technology has the potential to cause major disruption and that they will focus the Company's resources.  As a result, the Board has decided to change the Company's investment remit to consider acquisitions within the blockchain technology industry. To reflect this, the name of the Company was changed to Blockchain Worldwide plc on 19 January 2018. 

 

Outlook

 

We continue to make good progress towards a potentially game changing deal within the blockchain space and will update the market as soon as we are able.

 

Jon Hale

Chairman

 

8 May 2018

 

 

 

 

INTERIM STATEMENT OF COMPREHENSIVE INCOME

FOR THE PERIOD FROM 15 FEBRUARY 2017 TO 31 DECEMBER 2017

 

 

 

 

 

 

 

 

 

 

 

Notes

£

 

 

 

Revenue

          2

-

 

 

-------------------

Gross profit

 

-

 

 

 

General & administrative expenses

 

(7,501)

 

 

-------------------

Loss from operations before interest

 

(7,501)

 

 

 

Interest income

 

-

 

 

--------------------

Loss before tax

 

(7,501)

 

 

 

Tax

 

-

 

 

---------------------

Retained Loss after tax for the period

 

(7,501)

 

 

=============

 

 

 

Retained loss attributable to:

 

 

Owners of the company

 

(7,501)

 

 

-------------------

Loss for period

 

(7,501)

 

 

=============

Total comprehensive loss attributable to:

 

 

Owners of the company

 

(7,501)

 

 

---------------------

Total comprehensive loss for the period

 

(7,501)

 

 

=============

 

 

 

Loss per share

 

 

Basic and diluted

3

(0.0573p)

 

 

=============

 

 

INTERIM STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2017

 

 

 

 

 

 

 

 

 

 

 

Notes

                        £

ASSETS

 

 

 

 

 

Current assets

 

 

Cash and cash equivalents

 

1,445,764

 

 

-----------------------

TOTAL ASSETS

 

1,445,764

 

 

============

 

 

 

 

 

 

EQUITY

 

 

Share capital

4

365,000

Share premium reserve

 

1,088,265

Retained loss

 

(7,501)

 

 

------------------------

TOTAL EQUITY

 

1,445,764

 

 

============

 

 

 

CURRENT LIABILITIES

 

 

Trade and other payables

 

-

 

 

----------------------

TOTAL EQUITY AND LIABILITIES

 

1,445,764

 

 

============

 

 

 

 

 

 

 

 

INTERIM STATEMENT OF CHANGES IN EQUITY

FOR THE PERIOD FROM 15 FEBRUARY 2017 TO 31 DECEMBER 2017

 

 

 

 

 

 

 

Share

 

 

 

Share

premium

Retained

Total

 

capital

account

loss

equity

 

£

£

£

£

 

 

 

 

 

As at 15 February 2017

-

-

-

-

Loss for the period

-

-

(7,501)

(7,501)

 

 

 

 

 

Total comprehensive income for the period

-

-

(7,501)

(7,501)

Share capital issued (net of transaction costs)

365,000

 

    1,088,265

-

1,453,265

Balance at 30 June 2017

365,000

1,088,265

(7,501)

1,445,764

 

 

 

 

 

 

                 

 

 

INTERIM STATEMENT OF CASH FLOW

FOR THE PERIOD FROM 15 FEBRUARY 2017 TO 31 DECEMBER 2017

 

 

 

Cash flow from operating activities

 

Loss for the period

(7,501)

 

-------------------------

Operating cash flows before movements in working capital

(7,501)

Interest income

-

Increase in receivables

-

Increase in payables

-

 

----------------------

Net cash outflow from operating activities

(7,501)

 

 

Cash flow from investing activities

 

Interest income

-

 

------------------------

Net cash flow from investing activities

-

 

 

Cash flow from financing activities

 

Net proceeds from issue of share capital

1,453,265

 

------------------------

Net cash flow from financing activities

1,453,265

 

 

Net cash inflow for the period

1,445,764

 

----------------------

 

 

Cash and cash equivalents at start of period

-

 

-----------------------

Cash and cash equivalents at end of period

1,445,764

 

============

 

 

 

 

NOTES TO THE UNAUDITED INTERIM REPORT

FOR THE PERIOD ENDED 31 DECEMBER 2017

 

1.    BASIS OF PREPARATION

 

The interim financial statements have been prepared on a going concern basis and in accordance with the recognition and measurement principles of International Financial Reporting Standards adopted for use in the European Union ("IFRS").

 

The interim financial statements for the period ended 31 December 2017 have not been audited and do not constitute statutory accounts within the meaning of Section 434 of the Companies Act 2006. 

 

This Interim Financial Report was approved by the Board of Directors on 4th May 2018.

 

Statement of compliance

 

These condensed consolidated interim financial statements have been prepared in accordance with International Accounting Standard ('IAS') 34 - Interim Financial Reporting as adopted by the European Union. Accordingly the interim financial statements do not include all of the information or disclosures required in the annual financial statements. 

 

2.    TURNOVER AND SEGMENTAL ANALYSIS

 

All of the Company's activity and income and expenses in the period ended 31 December 2017 were incurred in the United Kingdom, and relate to Blockchain's ongoing investment activities.

 

3.   LOSS PER SHARE

 

The calculation of the basis and diluted earnings per share is based on the following data:

 

Earnings

 

Earnings for the purposes of basic earnings per share net loss for the period attributable to equity holders of the company

 

(7,501)

 

 

Number of shares

 

Weighted average number of ordinary shares in issue

13,087,500

 

The denominator for the purpose of calculating the basic earnings per share has been adjusted to reflect all capital raisings.

 

4.   SHARE CAPITAL

 

 

Number of

Nominal value

Premium (net of transaction costs

 

 

shares

£

£

 

 

a)    Issued and Fully Paid:

 

 

 

 

 

 

    15 February 2017

 

 

     16 June 2017

4,999,999

50,000

-

 

 

     21 September 2017

31,500,000

315,000

1,088,265

 

 

 

-----------------------------

--------------------------

--------------------------

 

 

     As at 31 December 2017

36,500,000

365,000

1,088,265

 

 

 

==============

============

============

 

 

 

 

 

 

 

 

 The nominal value of the shares is £0.01.

 

 

 

 

 

 

 

 

5.    AVAILABILITY OF INTERIM RESULTS

 

Copies of the Interim Results for the period to 31 December 2017 are available from the Company's registered address and will be available on the Company's website, later today.

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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Half-year Report - RNS