Oscillate Plc - Interim Results for the Six Months Ended 31 May 2024

PR Newswire

27 June 2024 at 10:38 am·3-min read

27 June 2024

Oscillate PLC

(“Oscillate” or the “Company")

Interim Results for the Six Months Ended 31 May 2024

I am pleased to present the interim results for Oscillate plc (AQSE: MUSH) for the period ending 31 May 2024.

Director’s Statement

During the period the Company made a loss of £302,783 compared with a loss of £508,310 for the same period last year. The loss is mainly due to revaluations of investments. The Board has been working diligently to reduce the administrative costs of the Company and these were £74,461 compared to £71,482 for the comparable period. Although the administrative costs show as slightly higher compared to the comparative period, directors’ salaries are being accrued and remain unpaid. As at 31 May 2024, the Company’s cash position was £1,060,311 (2023: £1,168,956).

The Board of the Company continues to work to source good investments at an attractive price and hopes to be able to update the market presently.

These interim results have not been audited or reviewed by the Company’s auditor.

John Treacy

Independent Non-Executive Director, Oscillate plc

The Directors of the Company accept responsibility for the content of this announcement.

Enquiries:

Company

Oscillate PLC

John Treacy

ir@oscillateplc.com

https://oscillateplc.com

Corporate Advisor

Peterhouse Capital Limited

Telephone: 020 7220 9796

Statement of Comprehensive Income for the 6 months ended 31 May 2024

	6 months to31 May 2024Unaudited	Year ended30 November 2023Audited	6 months to31 May 2023Unaudited
	£	£	£
Administrative expenses	(74,461)	(224,923)	(71,482)
Loss on investments at fair value through profit and loss	(243,994)	(849,904)	(442,400)
Loss on sale of investment	-	(104,456)	-

Operating Loss	(318,455)	(1,179,283)	(513,882)

Interest income	15,671	14,204	5,572

	(302,783)	(1,165,079)	(508,310)

Taxation	-	(212,476)	-

Loss for the period	(302,783)	(952,603)	(508,310)

Basic and diluted earnings per share	(0.28p)	(0.44p)	(0.5p)

Statement of Financial Position for the 6 months ended 31 May 2024

	6 months to31 May 2024Unaudited	Year ended 30 November 2023Audited	6 months to31 May 2023Unaudited
	£	£	£
Assets
Non-current assets
Investments	19,629	19,785	14,700
	19,629	19,785	14,700

Current assets
Investments	1,183,296	1,427,134	2,032,051
Trade and other receivables	5,882	5,659	6,867
Cash and cash equivalents	1,060,311	1,101,259	1,168,956
	2,249,489	2,534,052	3,207,874

Total assets	2,269,118	2,553,837	3,222,574

Current liabilities
Trade and other payables	(41,671)	(23,607)	(35,575)
	(41,671)	(23,607)	(35,575)

Deferred tax liability	(23,140)	(23,140)	(235,616)

Net current assets	2,184,678	2,487,305	2,936,683

Net assets	2,204,307	2,507,090	2,951,383

Capital and reserves
Share capital	1,228,309	1,228,309	1,228,309
Share premium	4,705,050	4,705,050	4,705,050
Other reserves	29,753	29,753	29,753
Retained earnings	(3,758,805)	(3,456,022)	(3,011,729)
Total equity	2,204,307	2,507,090	2,951,383

Statement of Changes in Equity for the 6 months ended 31 May 2024

	Share	Share	Other	Profit	Total
	capital	premium	reserves	and loss
				reserve
	£	£	£	£	£

As at 1 December 2022	1,228,309	4,705,050	29,753	(2,503,419)	3,459,693

Loss for the period	-	-	-	(508,310)	(508,310)
Total comprehensive income	-	-	-	(508,310)	(508,310)
Balance at 31 May 2023	1,228,309	4,705,050	29,753	(3,011,729)	2,951,383

As at 1 December 2022	1,228,309	4,705,050	29,753	(2,503,419)	3,459,693

Loss for the year	-	-	-	(952,603)	(952,603)
Total comprehensive income	-	-	-	(952,603)	(952,603)
Balance at 30 November 2023	1,228,309	4,705,050	29,753	(3,456,022)	2,507,090
Loss for the period	-	-	-	(302,783)	(302,783)
Total comprehensive income	-	-	-	(302,783)	(302,783)
Balance at 31 May 2024	1,228,309	4,705,050	29,753	(3,758,805)	2,204,307

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Oscillate Plc - Interim Results for the Six Months Ended 31 May 2024

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