Half-yearly Report
IMPERIAL MUSIC AND MEDIA PLC ("Imperial" or the "Company") UNAUDITED INTERIM RESULTS FOR THE PERIOD ENDED 31(st) JULY 2013 Chairman's Statement I am pleased to present the Interim Results of the Company for the six months ended 31st July 2013. Imperial Music currently has multiple rights deals in place with Skinny Lister and Patricia Hammond, covering recording, publishing, live performances and merchandise. During the six month period, Patricia Hammond film option with DJ Films was extended for a further 18 months with a 36 month further extension option. The Company remains hopeful that the option will be exercised with the resulting publicity it will attract to Patricia's music. In the meantime sales of her debut album' Our Lovely Day' remain slow. Skinny Lister continued to build momentum in the music industry. The band spent the summer of 2013 touring the United States of America and Side One Dummy Recordings were granted the exclusive rights to manufacture, exploit, distribute, advertise and sell Skinny Lister's first album within the United States of America and Canada. Post Balance Sheet Events On 28(th) August 2013, the Company raised GBP100,000 for general working capital purposes by the issue of 80,000,000 new ordinary shares. We continue to pursue other opportunities to generate revenue streams and hope to make further announcements in the near future. Greg Collier Non-Executive Director FOR THE PERIOD ENDED 31 JULY 2013 PROFIT AND LOSS 31/07/2013 31/07/2012 Turnover 1,003 7,551 Cost of sales 1,573 31,169 Gross loss 570 23,618 Administrative expenses 23,694 42,287 Operating loss 24,264 65,905 Interest payable and - - similar charges Loss on ordinary activities 24,264 65,905 Profit and loss reserve 403,360 295,669 brought forward Profit and loss reserve 427,624 361,574 BALANCE SHEET 31/07/2013 31/07/2012 Fixed Assets Tangible assets 1 1 1 1 Current Assets Stocks - 200 Debtors 5,225 3,642 Other Debtors 50,000 - Cash at bank 22,130 40,016 77,355 43,858 Creditors - Within one year 15,506 15,959 Net current assets 61,849 27,899 Long term liabilities - - Net assets/liabilities 61,850 27,900 Capital and reserves Called up share capital 489,474 389,474 Profit and loss reserve - 427,624 - 361,574 Shareholder funds 61,850 27,900 These interim figures have not been reviewed by the Company's auditors. The Directors of the Company accept responsibility for this announcement. --ENDS-- Enquiries: Imperial Music and Media PLC Greg Collier Tel: 07830 182501 Peterhouse Corporate Finance Limited Heena Karani Tel: 020 7469 0933 This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: IMPERIAL MUSIC & MEDIA PLC via Thomson Reuters ONE HUG#1739312
(END) Dow Jones Newswires
October 30, 2013 11:29 ET (15:29 GMT)