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FT8 plc (GFT)

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Tuesday 15 November, 2016

FT8 plc

Half-year Report

FT8 PLC
(FT8 or the Company)

UNAUDITED RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2016

The Company announces its unaudited results for the six months ended 30 June 2016.

CHAIRMAN'S STATEMENT

The Directors of FT8 present the interim results for the six months ended 30 June 2016. In accordance with Appendix 5 of the ISDX Rules, the Directors advise that these accounts are unaudited.

In line with Company investment strategy over the last six months the board and management has focussed on the key elements of our strategy which are:

Develop the USA Health Care investment market with our partners;

Maintain a strong relationship with our important technology partners;

Explore and develop the traditional investment opportunities in the ASEAN region;

Review and assess a number of Fintech investments;

Broaden the skills and experience of the FT8 board of directors:

Expand the available capital resources of the Company.

The FT8 USA team have been active in pursuing a number of additional health care investment opportunities that are in the same or similar business sector to that of Homeland Health Care. It is envisaged that new investment arrangements will be forthcoming over the coming months.

Continued efforts to maintain a strong business relationship with our technology partners is ongoing for the USA team.

In the ASEAN region the local investment development work has begun to refine a number of significant investment opportunities for the traditional cards systems and loyalty programs. The formalisation of investment arrangements is likely to occur in early 2017.

The establishment and confirmation of regional technology partners to support the new investment opportunities has been a significant focus for FT8 in the region. As such a number of companies have been extensively reviewed and FT8 is confident that new regional technology partnerships can be formalised in the coming period in order to support the new regional investment opportunities that have been identified.

A number of companies have been reviewed over the period with a final set of opportunities identified for formal decisions within the next period. The Company views that in assessing an acquisition the opportunity to add skills and experience to the current board is an important criterion in its decision making process.

The global and ASEAN development of new digital and crypto currencies plus the management and global trading of these currencies in the identified regional markets has presented FT8 with a number of exciting potential investment opportunities.

The CEO and Chairman have spent considerable time in assessing and developing these investment opportunities for the Company in order to set the framework so that the Company is able to make formal decisions in the last quarter of 2016.

A continuing issue for the directors and management over this period has been the constrained resources available to implement a number of important investment projects. However, a strong focus on expanding the capital resources of the Company has been implemented which should yield positive results and lead to an acceleration of the implementation of the identified investment opportunities over the ensuing months.

The Directors again thank you for your patience and continued support.

……………………………………………

Phillip Pryor
Chairman

Date: 15 November 2016

For further details please contact:

Phillip Pryor, FT8 Plc +61 419 342 457
Katy Mitchell, WH Ireland +44 161 832 2174
 

INCOME STATEMENT
FOR THE PERIOD ENDED 30 JUNE 2016

2016 2015
GBP GBP
Revenue - -
Administrative Expenses 381,650 379,049
Interest receivable and similar income 0 2
(381,650) (379,047)
Interest payable and similar charges   15,154 -
LOSS BEFORE TAXATION (396,804) (379,047)
Tax on loss - -
LOSS FOR THE PERIOD (396,804) (379,047)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2016

2016 2015
GBP GBP GBP GBP
FIXED ASSETS
Investments 69 2
CURRENT ASSETS
Debtors: amounts falling due within one year 26,709 23,368
Cash at bank 2,979 18,840
29,688 42,208
CREDITORS
Amounts falling due within one year 835,786 84,913
NET CURRENT (LIABILITIES)/ASSETS (806,098) (42,705)
(806,029) (42,703)
CAPITAL AND RESERVES
Called up share capital 39,524,407 39,351,061
Share premium 2,762,214 2,762,214
Other reserves 17,400 17,400
Retained earnings (43,110,050) (42,173,378)
SHAREHOLDERS’ FUNDS (806,029) (42,703)

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