TIDMRLH
RNS Number : 3767R
Red Leopard Holdings PLC
26 June 2015
Red Leopard Holdings Plc
("Red Leopard" or the "Company")
Final Results for the year to 31 December 2014
I am pleased to present the financial statements for the year to
31 December 2014 for Red Leopard Holdings Plc and its wholly owned
subsidiaries (together the "Group").
Total equity of the Group as at 31 December 2014 was GBP330,613
(2013: GBP320,111) and the loss for the year attributable to the
equity holders of the parent was GBP170,113 (2013: GBP358,681).
As at 31 December 2014 net cash for the Group was GBP9,471
(2013: GBP120,999).
At the beginning of the year, the Company established a wholly
owned subsidiary, Minera Red Leopard Chile SpA ("MRLC"). Through
MRLC, the Company assisted in the facilitation of the sale by
Sociedad De Asesoria Jurdica y Economica Minem S.A. ("Minem"), a
private company, of two properties, TresAmantes and San Antonio,
located in the Atacama Region of Chile, to TSXV listed Cougar
Minerals Corp ("Cougar"). In consideration, Minem has paid the
Company US$25,000 in cash and 300,000 ordinary shares
("Consideration Shares") in Cougar representing a proportion of the
consideration Minem received for the properties.
Throughout the year the Company worked with the U.S. Bureau of
Land Management ("BLM") in respect of its plans to develop the
Idora Tunnel for the purposes of exploration on its mining claims
in the vicinity of Shoshone County, Idaho and in particular to
reopen the Idora Tunnel. Those plans were approved in August 2014,
following the posting of a $7,300 reclamation bond.
Subsequently, the Company engaged Coeur d'Alene Mining
Contracting LLC ("Coeur d'Alene") who have carried out work on
site. Coeur d'Alene has successfully removed the rock falls and
debris at the entrance to the Idora Mine portal and has installed a
metal culvert to permit safe exploration access to the Tunnel.
However, the Company announced in January 2015 that further in the
Tunnel, rock falls have been discovered which currently hinder
access to the ore body and any sampling thereof. Due to the Health
& Safety complexities, there are likely to be additional costs
which were not originally budgeted for. The onset of winter and
heavy snow curtailed progress in the early part of the year but,
subject to additional funding being procured, the Company plans to
recommence the clearance of the Tunnel and remains committed to
completing this project in a timely manner.
A notice convening an Annual General Meeting of the Company to
be held on 21 July 2015 at 10am at 50 Jermyn Street, London SW1Y
6LX accompanies the full report and accounts which are available to
download from the Company's website:
www.redleopardholdings.com.
J J May
Chairman
Enquiries:
Red Leopard Holdings PLC
John May, Chairman Tel: +44 (0) 207 917
6826
Northland Capital Partners Limited
Gerry Beaney/ David Hignell Tel: +44 (0) 207 382
1100
Consolidated statement of comprehensive income for the year
ended 31 December 2014
2014 2013
GBP GBP
OTHER OPERATING INCOME 50,293 -
Cost of sales (17,938) -
---------- ----------
Gross profit 32,355 -
Administrative expenses (202,370) (358,681)
OPERATING LOSS (170,015) (358,681)
Finance income 17 -
Finance cost (115) -
LOSS FROM CONTINUING ACTIVITIES BEFORE
TAXATION (170,113) (358,681)
Tax expense - -
LOSS FOR THE YEAR ATTRIBUTABLE TO
THE EQUITY HOLDERS OF THE PARENT (170,113) (358,681)
TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE
TO THE EQUITY HOLDERS OF THE PARENT (170,113) (358,681)
========== ==========
Loss per share - basic (0.07)p (0.28)p
Loss per share -diluted (0.07)p (0.28)p
Consolidated statement of financial position
2014 2013
GBP GBP
NON CURRENT ASSETS
Intangible assets 466,434 433,333
------------ ------------
466,434 433,333
CURRENT ASSETS
Trade and other receivables 22,505 28,758
Cash and cash equivalents 9,471 120,999
------------ ------------
TOTAL CURRENT ASSETS 31,976 149,757
TOTAL ASSETS 498,410 583,090
------------ ------------
EQUITY
Share capital 1,535,667 1,500,800
Share premium account 4,017,194 3,862,860
Share based payment reserve 60,002 60,002
Retained earnings (5,282,250) (5,103,551)
------------ ------------
TOTAL EQUITY 330,613 320,111
------------ ------------
CURRENT LIABILITIES
Trade and other payables 167,797 262,979
------------ ------------
TOTAL CURRENT LIABILITIES 167,797 262,979
TOTAL LIABILITIES 167,797 262,979
------------ ------------
TOTAL EQUITY AND LIABILITIES 498,410 583,090
============ ============
Company statement of financial position for the year ended 31
December 2014
Year ended Year ended
31 December 31 December
2014 2013
GBP GBP
NON-CURRENT ASSETS
Investments 437,433 433,433
------------- -------------
TOTAL NON-CURRENT ASSETS 437,433 433,433
CURRENT ASSETS
Trade and other receivables 54,545 27,704
Cash and cash equivalents 9,471 120,992
------------- -------------
TOTAL CURRENT ASSETS 64,016 148,696
TOTAL ASSETS 501,449 582,129
------------- -------------
EQUITY
Share capital 1,535,667 1,500,800
Share premium account 4,017,194 3,862,860
Share based payment reserve 60,002 60,002
Retained earnings (5,284,812) (5,110,113)
------------- -------------
TOTAL EQUITY 328,051 313,549
CURRENT LIABILITIES
Trade and other payables 173,398 268,580
------------- -------------
TOTAL CURRENT LIABILITIES 173,398 268,580
TOTAL LIABILITIES 173,398 268,580
------------- -------------
TOTAL EQUITY AND LIABILITIES 501,449 582,129
============= =============
Consolidated statement of changes in equity for the year ended
31 December 2014
Share
Share based
premium payment Retained Total
Share capital account reserve earnings equity
GBP GBP GBP GBP GBP
At 1 January
2014 1,500,800 3,862,860 60,002 (5,103,551) 320,111
Loss for the
year - - - (170,113) (170,113)
-------------- ---------- --------- ------------ ----------
Total comprehensive
income 1,500,800 3,862,860 60,002 (5,273,664) 149,998
-------------- ---------- --------- ------------ ----------
Transactions
with owners:
Equity component
of compound instrument - - - (8,586) (8,586)
Issue of share
capital 34,867 154,334 - - 189,201
-------------- ---------- --------- ------------ ----------
Total transactions
with owners 34,867 154,334 - (8,586) 180,615
-------------- ---------- --------- ------------ ----------
At 31 December
2014 1,535,667 4,017,194 60,002 (5,282,250) 330,613
============== ========== ========= ============ ==========
Share
Share based
premium payment Retained Total
Share capital account reserve earnings equity
GBP GBP GBP GBP GBP
At 1 January
2013 1,368,334 3,097,263 60,002 (4,755,174) (229,575)
Loss for the
year - - - (358,681) (358,681)
-------------- ---------- --------- ------------ ----------
Total comprehensive
income 1,368,334 3,097,263 60,002 (5,113,855) (588,256)
-------------- ---------- --------- ------------ ----------
Transactions
with owners:
Equity component
of compound instrument - - - 10,304 10,304
Issue of share
capital 132,466 765,597 - - 898,063
-------------- ---------- --------- ------------ ----------
Total transactions
with owners 132,466 765,597 - 10,304 908,367
-------------- ---------- --------- ------------ ----------
At 31 December
2013 1,500,800 3,862,860 60,002 (5,103,551) 320,111
Company statement of changes in equity for the year ended 31
December 2014
Share
Share based
premium payment Retained Total
Share capital account reserve earnings equity
GBP GBP GBP GBP GBP
At 1 January 2014 1,500,800 3,862,860 60,002 (5,110,113) 313,549
Loss for the year - - - (166,113) (166,113)
------------- --------- -------- ----------- ---------
Total comprehensive
income 1,500,800 3,862,860 60,002 (5,276,226) 147,436
------------- --------- -------- ----------- ---------
Transactions with
owners:
Equity component
of compound instrument - - - (8,586) (8,586)
Issue of share capital 34,867 154,334 - - 189,201
------------- --------- -------- ----------- ---------
Total transactions
with owners 34,867 154,334 - (8,586) 180,615
------------- --------- -------- ----------- ---------
At 31 December 2014 1,535,667 4,017,194 60,002 (5,284,812) 328,051
============= ========= ======== =========== =========
Share
Share based
premium payment Retained Total
Share capital account reserve earnings equity
GBP GBP GBP GBP GBP
At 1 January 2013 1,368,334 3,097,263 60,002 (4,762,572) (236,973)
Loss for the year - - - (357,845) (357,845)
------------- --------- -------- ----------- ---------
Total comprehensive
income 1,368,334 3,097,263 60,002 (5,110,113) (594,818)
------------- --------- -------- ----------- ---------
Transactions with
owners:
Equity component
of compound instrument - - - 10,304 10,304
Issue of share capital 132,466 765,597 - - 898,063
------------- --------- -------- ----------- ---------
Total transactions
with owners 132,466 765,597 - 10,304 908,367
------------- --------- -------- ----------- ---------
At 31 December 2013 1,500,800 3,862,860 60,002 (5,110,113) 313,549
Consolidated statement of cash flows for the year ended 31
December 2014
2014 2013
GBP GBP
CASH FLOWS USED IN OPERATING ACTIVITIES (103,248) (205,953)
INVESTING ACTIVITIES
Interest received 17 -
Interest paid (115) -
Purchase of intangible assets (33,101) -
CASH FLOWS USED IN INVESTING ACTIVITIES (33,199) -
FINANCING ACTIVITIES
Issue of share capital 45,450 321,397
Repayment of loan notes (20,531) -
---------- ----------
CASH FLOWS FROM FINANCING ACTIVITIES 24,919 321,397
---------- ----------
NET INCREASE/(DECREASE) IN CASH AND
CASH EQUIVALENTS (111,528) 115,444
Cash and cash equivalents brought
forward 120,999 5,555
CASH AND CASH EQUIVALENTS CARRIED
FORWARD 9,471 120,999
========== ==========
Company statement of cash flows
2014 2013
GBP GBP
CASH FLOWS USED IN OPERATING ACTIVITIES (132,342) (205,960)
INVESTING ACTIVITIES
Investment in subsidiary undertakings (4,000) -
Interest received 17 -
Interest paid on loans (115) -
---------- ----------
CASH FLOWS USED IN INVESTING ACTIVITIES (4,098) -
FINANCING ACTIVITIES
Issue of share capital 45,450 321,397
Repayment of loan notes (20,531) -
---------- ----------
CASH FLOWS FROM FINANCING ACTIVITIES 24,919 321,397
NET INCREASE/(DECREASE) IN CASH AND
CASH EQUIVALENTS (111,521) 115,437
---------- ----------
Cash and cash equivalents brought
forward 120,992 5,555
CASH AND CASH EQUIVALENTS CARRIED
FORWARD 9,471 120,992
========== ==========
Notes:
1. This statement has been prepared using accounting policies
and presentation consistent with those applied in the preparation
of the statutory accounts of the Company.
2. The summary accounts set out above do not constitute
statutory accounts as defined by Section 428 of the UK Companies
Act 2006. The consolidated statement of comprehensive income, the
consolidated and company statements of financial position,
consolidated and company statement of changes in equity and the
consolidated and company statements of cash flows for the year
ended 31 December 2014 have been extracted from the Company's 2014
statutory financial statements upon which the auditor's opinion is
unqualified. The results for the year ended 31 December 2014 have
been extracted from the statutory accounts for that period, which
contain an unqualified auditor's report.
3. The auditor's opinion, which is not qualified, contains an
emphasis of matter in respect of the gong concern assessment. The
statutory financial statements are presented on the going concern
basis and, based upon the expectation that further funds will be
raised in the near future, the Directors believe there will be
sufficient resources to continue trading for at least twelve months
from the date of approval of these financial statements. The
completion of a successful fundraise has been identified as a
material uncertainty over the going concern assessment. In the
short term, prior to the completion of a successful fundraise, the
Directors will support the company in meeting unavoidable
expenditure.
4. Basic loss per ordinary share for the year is based on the
loss of GBP170,113 (2013: GBP358,681) and a weighted average of
246,705,112 (2013: 127,690,964) ordinary shares.
For diluted loss per share, the weighted average number of
ordinary shares in issue is adjusted to assume conversion of all
potential dilutive ordinary shares. Items included in the
calculation are options for ordinary shares.
The effect of conversion of all potential dilutive ordinary
shares would have an anti-dilutive effect on earnings per share and
therefore they have been incorporated in the diluted earnings per
share calculation. Potential ordinary shares are only treated as
dilutive when their conversion to ordinary shares would decrease
profit per share or increase loss per share.
5. The annual report and accounts are available to download from
the Company's website, www.redleopardholdings.com.
6. An Annual General Meeting of the Company will be held on 21
July 2015, at 50 Jermyn Street London, SW1Y 6LX.
This information is provided by RNS
The company news service from the London Stock Exchange
END
FR BBGDLCUDBGUL
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