Half-yearly Report

30 October 2015

LIMITLESS EARTH PLC

("Limitless" or the "Company")

UNAUDITED HALF-YEARLY RESULTS FOR THE SIX MONTHS ENDED 31 JULY 2015

The Company is pleased to announce its half-yearly result for the six months to 31 July 2015.

CHIEF EXECUTIVE’S STATEMENT

Limitless is a proactive investing company that focuses on making investments in and assisting companies that show the potential to generate returns through capital appreciation.  It is the view of directors to invest in small companies where there are clear routes to value appreciation and the companies are operating in sectors with long term growth prospects that are driven by demographic change.  Examples of such sectors include cleantech, life sciences and technology.

The Board is focused on making sure it makes the right investment in the right sector at the right time. It has looked carefully at more than twenty investment opportunities and has, following the period end, made its first investment. During the second half of the financial year, the Board expects to make further investments and it continues to review a number of investment opportunities.

During the reporting period, Mr Guido Contesso was appointed Chief Executive Officer, Mr Dominic White (former CEO) was appointed Non-executive Director and Mr Luca Serri stepped down from the Board. The Company also announced that 3,924,000 warrants, awarded at the time of the Company’s admission to AIM, were cancelled.

The Board understands that cost control is important at all times and particularly pre-investment.  On behalf of the shareholders, the directors carefully keep operating costs to a minimum to preserve shareholder value.

For the period, Limitless made a net loss on operations of £77,734 and the unaudited balance sheet reflects the cash and cash equivalents at the reporting date of £2,668,320.

Post reporting period

On 8 October 2015, the company invested US$500,000, by way of convertible preference stock, in Chronix Biomedical Inc. ("Chronix"), a private molecular diagnostics company which is developing blood tests that can be used for applications including cancer detection and organ transplantation.

For further information, please contact:

Limitless Earth plc                                                            http://www.limitlessearthplc.com/    

Guido Contesso - CEO                                                    [phone]            

Cairn Financial Advisers LLP                                          [phone]            

Nominated Adviser                                                          http://www.cairnfin.com/                             

Jo Turner/Tony Rawlinson                                      

Peterhouse Corporate Finance Limited                           [phone]            

Joint Broker                                                                      http://www.pcorpfin.com/            

Peter Greensmith                                                  

About LIMITLESS EARTH PLC

Limitless Earth plc is a proactive investment company that focuses on making investments in and assisting companies which exhibit the potential to generate returns through capital appreciation.  Limitless invests in small companies where there are clear catalysts for value appreciation and the companies are operating in sectors exhibiting long term growth linked to demographic change.  Examples of such sectors include Cleantech, Life Sciences and Technology.

UNAUDITED INCOME STATEMENT AND STATEMENT OF COMPREHENSIVE INCOME
6 MONTHS ENDED 31 JULY 2015
	Notes	Unaudited	Unaudited	Audited
		31/07/15	31/07/14	31/01/15
Continuing operations		£	£	£
Administration expenses		(87,230)	(175,806)	(305,914)
Operating loss		(87,230)	(175,806)	(305,914)
Finance Income		9,496	-	6,243
Loss before taxation		(77,734)	(175,806)	(299,671)
Taxation		-	-	-
Loss for the period		(77,734)	(175,806)	(299,671)
Total Comprehensive loss for the period		(77,734)	(175,806)	(299,671)
Loss attributable to:
Equity Holders		(77,734)	(175,806)	(299,671)
Earnings per share:
Basic loss per share	3	(0.12p)	(0.68p)	(0.69p)

UNAUDITED STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2015
	Unaudited	Unaudited	Audited
	31/07/15	31/07/14	31/01/15
	£	£	£
Current assets
Trade and other receivables	-	23,000	-
Cash	2,668,320	2,841,954	2,731,554
	2,668,320	2,864,954	2,731,554
Total Assets	2,668,320	2,864,954	2,731,554
Current Liabilities
Trade and other payables	(27,000)	(22,035)	(12,500)
Net Assets	2,641,320	2,842,919	2,719,054
Equity
Share Capital	654,000	654,000	654,000
Share Premium Account	2,322,440	2,322,440	2,322,440
Share Warrant Reserve	42,285	42,285	42,285
Retained Earnings	(377,405)	(175,806)	(299,671)
Total Equity	2,641,320	2,842,919	2,719,054

UNAUDITED CASH FLOW STATEMENT FOR THE 6 MONTHS ENDED 31 JULY 2015
		Unaudited	Unaudited	Audited
		31/07/15	31/07/14	31/01/15
		£	£	£
Cash flows from operating activities
Operating loss		(87,230)	(175,806)	(305,914)
Operating cash flows before movement in working capital		(87,230)	(175,806)	(305,914)
(Increase)/decrease in receivables		-	(23,000)	-
Increase in payables		14,500	22,035	12,500
Cash expended by operations		(72,730)	(176,771)	(293,414)
Cash Flows from Investing Activities
Finance income received net		9,496	-	6,243
Net Cash Used in Investing activities		9,496	-	6,243
Cash flows from financing activities
Proceeds from issue of ordinary shares (net of expenses)		-	3,018,725	3,018,725
Net cash inflow from Financing activities		-	3,018,725	3,018,725
Net increase in cash		(63,234)	2,841,954	2,731,554
Cash at the beginning of period		2,731,554	-	-
Cash at the end of the period		2,668,320	2,841,954	2,731,554

UNAUDITED STATEMENT OF CHANGES IN SHAREHOLDERS’ EQUITY
FOR THE 6 MONTHS ENDED 31 JULY 2015
	Share capital	Share premium	Share warrant reserve	Retained earnings	Total
	£	£	£	£	£
Changes in Equity for the period ended 31 January 2015
Comprehensive income
Loss for the period and total comprehensive loss	-	-		(299,671)	(299,671)
Transactions with owners
Proceeds from share issue (net of expenses)	654,000	2,322,440	42,285	-	3,018,725
Total contributions by the owners	654,000	2,322,440	42,285	-	3,018,725
At 31 January 2015	654,000	2,322,440	42,285	(299,671)	2,719,054
Comprehensive income:
Loss for the period and total comprehensive loss	-	-	-	(77,733)	(77,733)
At 31 January 2015	654,000	2,322,440	42,285	(377,404)	2,641,321

NOTES TO THE FINANCIAL STATEMENTS

1. General information

Limitless Earth plc is a company incorporated and domiciled in England and Wales. The Company’s ordinary shares are traded on AIM of the London Stock Exchange. The address of the registered office is 30 Percy Street, London W1T 2DB.

The principal activity of the Company is that of an investment company pursuing a strategy that focuses on making investments in and assisting companies which exhibit the potential to generate returns of many multiples through capital appreciation.  Typically, Limitless invests in small companies where there are clear catalysts for value appreciation and the companies are operating in sectors exhibiting long term growth linked to demographic change.

2. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the period covered by these financial statements.

Basis of preparation

The interim financial information set out above does not constitute statutory accounts within the meaning of the Companies Act 2006. It has been prepared on a going concern basis in accordance with the recognition and measurement criteria of International Financial Reporting Standards (IFRS) as adopted by the European Union.

The financial statements have been prepared under the historical cost convention.

The interim financial information for the six months ended 31 July 2015 has not been reviewed or audited. The interim financial report has been approved by the Board on 26 October 2015.

3. Loss per share

The basic earnings per share is calculated by dividing the earnings attributable to ordinary shareholders by the weighted average number of ordinary shares outstanding during the period. Diluted earnings per share is computed using the same weighted average number of shares during the period adjusted for the dilutive effect of share warrants and convertible loans outstanding during the period.

	Unaudited	Unaudited	Audited
	31/07/15	31/07/14	31/01/15
Loss from continuing operations attributable to equity holders of the company	(77,734)	(175,806)	(299,671)
Weighted average number of ordinary shares in issue	65,400,000	26,024,000	43,440,000
	Pence	Pence	Pence
Basic and fully diluted loss per share from continuing operations	(0.12)	(0.68)	(0.69)

IAS 33 requires presentation of diluted earnings per share when a company could be called upon to issue shares that would decrease earnings per share or increase net loss per share. For a loss making company with outstanding share options and warrants, net loss per share would only be increased by the exercise of out-of-the money options and warrants. Since it seems inappropriate that option holders would act irrationally, no adjustment has been made to diluted earnings per share for out-of-the money options and warrants in the comparatives. There are no other diluting share issues.

4. Copy of the half-yearly report

A copy of the half-yearly report is available at the Company´s web site at http://www.limilessearthplc.com/.