G-Resources Group Limited — Earnings Release 2005

Oct 21, 2005

Listed Company Information

Listed Company Information
DNA SECURITY<01051> - Results Announcement Credit Card DNA Security System (Holdings) Limited announced on 21/10/2005: (stock code: 01051 ) Year end date: 30/06/2005 Currency: HKD Auditors' Report: Unqualified (Audited ) (Audited ) Last Current Corresponding Period Period from 01/07/2004 from 01/07/2003 to 30/06/2005 to 30/06/2004 Note ('000 ) ('000 ) Turnover : 3,332 3,270 Profit/(Loss) from Operations : (31,480) (32,177) Finance cost : (1,582) (854) Share of Profit/(Loss) of Associates : N/A N/A Share of Profit/(Loss) of Jointly Controlled Entities : (79) N/A Profit/(Loss) after Tax & MI : (71,410) (35,713) % Change over Last Period : N/A % EPS/(LPS)-Basic (in dollars) : (0.0067) (0.0048) -Diluted (in dollars) : N/A N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : (71,410) (35,713) Final Dividend : NIL NIL per Share (Specify if with other : N/A N/A options) B/C Dates for Final Dividend : N/A Payable Date : N/A B/C Dates for (-) General Meeting : N/A Other Distribution for : N/A Current Period B/C Dates for Other Distribution : N/A Remarks: I. BASIS OF PREPARATION OF FINANCIAL STATEMENT The financial statements have been prepared in accordance with all applicable Hong Kong Financial Reporting Standards (Which includes all applicable Statements of Standard Accounting Practice and Interpretations) issued by the Hong Kong Institute of Certified Public Accountants (" HKICPA"), accounting principles generally accepted in Hong Kong. The financial statements are prepared under the historical cost convention as modified for the valuation of intangible asset and financial assets at fair value through profit or loss. II.ADOPTION OF HONG KONG FINANCIAL REPORTING STATNDARDS The Group has applied, a number of new Hong Kong Financial Reporting Standards ("HKFRS"), Hong Kong Accounting Standards ("HKAS") and Interpretations (hereinafter collectively referred to as "new HKFRSs") issued by the HKICPA that are effective for accounting periods beginning on or after 1st January 2005. The Group has early adopted the following new HKFRSs in the preparation of the financial Statements for the year ended 30th June 2005:- HKAS 1 Presentation of Financial Statements HKAS 7 Cash Flow Statements HKAS 8 Accounting Policies, Changes in Accounting Estimates and Errors HKAS 10 Events after Balance Sheet Date HKAS 12 Income Taxes HKAS 14 Segment Reporting HKAS 16 Property, Plant and Equipment HKAS 18 Revenue HKAS 19 Employee Benefits HKAS 21 The Effects of changes in Foreign Exchange Rates HKAS 24 Related Party Disclosures HKAS 27 Consolidated and Separate Financial Statements HKAS 31 Interests in Joint Ventures HKAS 32 Financial Insutruments : Disclosure and Presentation HKAS 33 Earnings per Share HKAS 36 Impairment of Assets HKAS 38 Intangible Assets HKAS 39 Financial Instruments : Recognition and Measurement HKFRS 2 Share-based Payment HKFRS 3 Business Combinations III.SUMMARY OF THE EFFECT OF CHANGES IN ACCOUNTING POLICES The effects of changes in accounting policies described in note(II) above on the results of the Group for the current and previous years are as follows: Effect on loss for the year 2005 2004 HK$'000 HK$'000 HKFRS 2 - Increase in share option 1,184 - benefits HKAS 32 and 39 - Increase in interest 1,264 - expenses on convertible note ------- ------ Increase in loss for the year 2,448 - ======= ====== IV.BASIS LOSS PER SHARE The calculation of the basic loss per share is based on the loss attributable to shareholders of HK$71,410,000 (2004:HK$35,713,000) and on the weighted average number of 10,648,678,466 (2004: 7,388,561,370) ordinary shares in issue during the year. No diluted loss per share has been presented for the current year as the exercise of the share options and convertible note would result in a decrease in the loss per share.