Interim Results
April 26 2006 - 3:01AM
UK Regulatory
GLOBAL GAMING TECHNOLOGIES PLC ("GGT" or the "Group")
26 April 2006
Interim Results
CHAIRMAN'S STATEMENT
FOR THE SIX MONTHS ENDED 5 FEBRUARY 2006
I am pleased to present Global Gaming Technologies plc's ("GGT")
first six-monthly set of interim results since the readmission to
AIM following the successful completion of GGT's acquisition of
Event Data Correlation Limited ("EDC"). These cover the half-year
from the Group's period end of 31 July 2005 to 5 February 2006.
Results
The Group expended �371,598 of cash in the period. The Groups
results for the period ended 5 February 2006 show a loss before
taxation of �940,432 after non-cash charges including
amortisation and depreciation. The Group held net assets of
�11,204,696 at the period end.
GGT was created to build a group specialising in enabling
technologies for the gaming and other applicable markets. Its
first acquisition was EDC, which has provided GGT with an ideal
base upon which to build-out the business with a management team
and proprietary commercial platform to identify and exploit
trading opportunities in the fast growing and fragmented global
online gaming market.
EDC's real-time platform monitors event-based data on a continual
basis across multiple betting exchanges and automatically
aggregates, correlates and identifies trading opportunities from
the vast amounts of online sports betting data available in
global markets.
We are pleased to announce that during the first quarter of 2006
the first release of the core platform was completed on schedule
and the first product based on it, Oddstrader, was launched.
Regular betters find it laborious to watch prices moving and
place trades on more than one event on traditional betting
websites. Oddstrader (www.oddstrader.com) allows customers to
monitor the prices of more than one event in real time, place
bets more easily than using a web page and track the performance
of their portfolios of betting positions.
GGT has also been researching ways to extend the reach of its
proprietary technology within its core markets and has been
pleased to identify the applicability of its platform to other
fragmented exchange markets. The Carbon emissions market is the
first such market to demonstrate similar opportunities and the
company is developing and testing software for use in this market
with its first customer in this field.
GGTs aim is to continue to identify opportunities to enhance
shareholder value.
R. Trenter
Chairman
Dated: 26 April 2006
GLOBAL GAMING TECHNOLOGIES PLC
GROUP PROFIT AND LOSS ACCOUNT
FOR THE SIX MONTHS ENDED 5 FEBRUARY 2006
26 weeks to 5 26 weeks to Year ended
February 6 February 31 July
2006 2005 2005
(Unaudited) (Unaudited)
� � �
Net trading margin (3,961) - (302)
Administrative (963,646) (24,410) (377,972)
expenses
Other operating 16,704 - 19,839
income
------- ------- -------
Operating loss (950,903) (24,410) (358,435)
Other income 10,471 - 13,392
--
------- ------- -------
Loss on ordinary (940,432) (24,410) (345,043)
activities before
taxation
Tax on loss on - - -
ordinary activities
------- ------- -------
Loss on ordinary (940,432) (24,410) (345,043)
activities after
taxation
------- ------- -------
Loss per share
- Basic (.50)p (.15)p (.84) p
------- ------- -------
The profit and loss account has been prepared on the basis that
all operations are continuing operations.
There are no recognised gains and losses other than those
passing through the profit and loss account.
GLOBAL GAMING TECHNOLOGIES PLC
GROUP BALANCE SHEET
AS AT 5 FEBRUARY 2006
As at 5 As at 6 As at 31
February February July
2006 2005 2005
(Unaudited) (Unaudited)
� � �
Fixed assets
Intangible assets 10,911,185 - 11,248,205
Tangible assets 1,532 - 1,844
------- ------- -------
10,912,717 - 11,250,049
------- ------- -------
Current assets
Debtors 65,309 585,379 55,742
Cash at bank and in hand 378,980 - 750,578
------- ------- -------
444,289 585,379 806,320
Creditors: amounts (152,310) (6,154) (115,392)
falling due within one
year
------- ------- -------
Net current assets 291,979 579,225 690,928
------- ------- -------
Total assets less current 11,204,696 579,225 11,940,977
liabilities
------- ------- -------
Capital and reserves
Called up share capital 467,384 104,687 465,146
Share premium account 1,368,824 498,948 1,370,990
Merger reserve 10,397,916 - 10,397,916
Profit and loss account (1,029,428) (24,410) (293,075)
------- ------- -------
Shareholders' funds - 11,204,696 579,225 11,940,977
equity interests
------- ------- -------
The interim accounts were approved by the board of Global Gaming
Technologies PLC on 26 April 2006
GLOBAL GAMING TECHNOLOGIES PLC
GROUP CASH FLOW STATEMENT
FOR THE SIX MONTHS ENDED 5 FEBRUARY 2006
26 weeks to 5 26 weeks to 6 Period ended 31 July
February 2006 February 2005 2005
(Unaudited) (Unaudited)
� � � � � �
Net cash outflow (417,610) (603,636) (534,215)
from operating
activities
Returns on
investments and
servicing of
finance
Interest received 10,471 - 13,392
------ ------- -------
-
Net cash inflow 10,471 - 13,392
from returns on
investments and
servicing of
finance
Acquisitions and
disposals
Purchase of 35,541 - (256,207)
subsidiary
undertakings
Cash acquired with - - 26,889
subsidiary
undertakings
------ ------- -------
-
Net cash outflow on 35,541 - (229,318)
acquisitions and
disposals
------- ------- -------
Net cash outflow (371,598) (603,636) (750,141)
before financing
Financing
Issue of ordinary - 737,500 1,675,000
share capital
Cost of share issue - (133,864) (174,281)
------ ------- -------
-
Net cash inflow 603,636 1,500,719
from financing
------- ------- -------
Decrease in cash (371,598) - 750,578
------- ------- -------
The interim figures for the six months ended 5 February 2006
and those for the six months ended 6 February 2005, are
unaudited. The Groups policy is to start each period at the
start of a week.
The financial information set out herein does not comprise
full accounts within the meaning of section 240 of the
Companies Act 1985. The comparative figures for the period
ended 31 July 2005 are extracted from the audited accounts for
that year, which have been filed with the Registrar of
Companies. The auditors report on those audited accounts was
unqualified and did not contain any statement under section
237(2) or (3) of the Companies Act 1985.
The Interim Report has been prepared on the basis of the
accounting policies set out in the most recent set of annual
financial statements.
-ENDS-
Global Gaming (LSE:GGT)
Historical Stock Chart
From Nov 2024 to Dec 2024
Global Gaming (LSE:GGT)
Historical Stock Chart
From Dec 2023 to Dec 2024
