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FT8 plc (GFT)

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Wednesday 30 September, 2015

FT8 plc

Half-yearly Report

FT8 Plc (formerly Ezybonds (UK) Plc)
(FT8 or the Company)

Interim Results
for the six months ended 30 June 2015

CHAIRMAN'S STATEMENT

The Directors of FT8 present the accounts for the six months ended 30 June 2015. In accordance with Appendix 5 of the ISDX Rules, the Directors advise that these accounts are unaudited.

On the 18 March 2015 notice was given to Ezybonds Inc terminating the Marketing and Promotions Agreement between Ezybonds Inc and EzyPromotions Limited (a wholly owned subsidiary of FT8 Plc) no later than 28 April 2015.

On the 29 May 2015 the Company changed its name to FT8 Plc to reflect the termination of its Marketing and Promotions Agreement with Ezybonds Inc.

The directors are progressing a strategy of executing partnership agreements that are aligned with the Company’s experience and expertise.

Subsequent to the 30 June 2015, the Company on 10 September 2015 entered into an agreement with USA based i2c to develop a new transaction processing product known as SplitPay which will be 100% owned by FT8 and will be ready for market on or around 1 November 2015.

On the 18 September 2015 the Company entered into a legally binding Memorandum of Understanding (MOU) with the shareholders of Pay My Provider LLC (PMP) to acquire up to 15% of the equity of PMP, which will market innovative products to the USA healthcare industry. It is anticipated that operations will commence during the first quarter of 2016.

Financially the company announces an unaudited EBIT loss of ?186,899 for the six months ended 30 June 2015 (2014: loss of £323,140).  During this period the Company incurred significant expenditure on consultancy fees, legal and professional fees, and travel as a result of a number of corporate opportunities.

Your Directors are looking forward to the commencement of operations arising from the above agreement and MOU and anticipate a continued progression of the strategy of executing partnership agreements that are aligned with the Company’s experience and expertise during the next twelve months.

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

Sean McShane
Chairman

For further details please contact:

Sean McShane, FT8 Plc +18 172 718 169
Katy Mitchell, WH Ireland Limited +44 161 832 2174

   

FT8 plc
CONSOLIDATED PROFIT AND LOSS ACCOUNT 30 June 15 30 June 14
GBP GBP GBP GBP
TURNOVER
Licence Revenue received - 916
Cost of Sales
Direct Costs - -
Gross Profits - 916
OVERHEADS
Office Costs 3,116 2,832
Travel & Subsistence 48,049 48,375
Communications 3,433 1,213
Advertising, marketing consultancy - 5,703
Legal & professional fees 61,072 87,060
Consultancy Fees & other 71,062 177,104
Bank Charges 167 1,769
       186,899 324,056
 (186,899)  (323,140)
OTHER OPERATING INCOME - -
OPERATING PROFIT/(LOSS) (186,899) (323,140)
Bank Interest receivable 2 -
PROFIT/(LOSS) ON ORDINARY ACTIVITIES (186,897) (323,140)


 

FT8 plc
BALANCE SHEET 30 June 15 30 June 14
GBP GBP GBP GBP
FIXED ASSETS
Intangible Assets   - 47,060,572
Tangible Assets 13,428      
13,428 47,060,572
CURRENT ASSETS
Debtors and Prepayment 97,940 58,389
Cash at Bank 17,001 516,650
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR - -
NET CURRENT ASSETS  114,941 575,039
TOTAL ASSETS LESS CURRENT LIABILITIES    128,369  47,635,611
CAPITAL AND RESERVES
Called up equity share capital 39,351,061 37,991,178
Share premium reserve 2,762,214 2,160,467
Other reserve 17,400 17,400
Non distributable reserve
    Merger Reserve - 1,114,329
Profit and loss reserve  (42,002,306) 6,352,237
SHAREHOLDERS FUNDS 128,369 47,635,611

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