Interim statement of comprehensive income for the period from 1 January to 30 June 2017

	Half year ended
	30 June
	2017	2016
	€	€
Cost of sales	(-)	(-)
Loss in financial assets at fair value through profit or loss	-	-
Administrative expenses	(25.811)	(26.765)
Other profits	24.521	34.313
Operating profit/(loss)	(1.290)	7.548
Finance costs	(108.381)	(105.726)

Loss before taxation	(109.671)	(98.178)
Taxation charge	-	-
Loss for the period	(109.671)	(98.178)

Other comprehensive income for the period after taxation	-	-

Comprehensive losses for the period	(109.671)	(98.178)

Loss per share (cent per share):
Basic	(1.12)	(1.00)

Interim balance sheet as at 30 June 2017

	31 December
	2017	2016
	€	€
Assets
Non-current assets
Plant and equipment	-	-
Current assets
Stocks	1.912.760	1.912.760
Trade and other receivables	1.236.084	1.265.368
Financial assets at fair value through profit or loss	4.324	4.324
Current tax liabilities	123	123
Cash and cash equivalents	1.511	1.511
	3.181.802	3.184.086

Total assets	3.181.802	3.184.086
Equity and liabilities
Capital and reserves
Share capital	499.392	499.392
Share premium reserve	807.523	807.523
Accumulated losses	(1.762.814)	(1.653.143)
Difference from conversion of share capital into Euro	12.565	12.565
	(443.334)	(333.663)
Non short-term liabilities
Borrowings	-	-
Short-term liabilities
Other creditors	13.304	14.803
Borrowings	3.611.832	3.502.946
	3.625.136	3.517.749

Total liabilities	3.625.136	3.517.749
Total equity and liabilities	3.181.802	3.184.086

	Share capital €	Share premium reserve €	Difference from conversion of share capital into Euro €	Accumulated losses €	Total €
Balance as at 1 January 2016	499.392	807.523	12.565	(1.198.428)	121.052
Comprehensive losses Loss for the period	-	-	-	(98.178)	(98.178)
Balance as at 30 June 2016	499.392	807.523	12.565	(1.296.606)	22.874
Balance as at 1 January 2017	499.392	807.523	12.565	(1.653.143)	(333.663)
Comprehensive losses Loss for the period	-	-	-	(109.671)	(109.671)
Balance as at 30 June 2017	499.392	807.523	12.565	(1.762.814)	(443.334)

30 June 2017 2016 € € Cash flow from operations Loss before taxation (109.671) (98.178) Adjustments for: Depreciation of property and equipment - - Fair value loss in financial assets at fair value through profit or loss - - Credit interest (24.521) (34.313) Debit interest 108.381 105.726 (25.811) (26.765) Changes in working capital: Stocks - - Trade and other receivables 2.284 13.068 Other creditors (994) (20.616) Cash used for operations (24.521) (34.313) Taxation paid - - Net cash for operations (24.521) (34.313) Cash flow from investing activities Proceeds from loan repayments to related parties - - Interest received 24.521 34.313 Net cash from investing activities 24.521 34.313 Cash flow from financing activities (Payments)/proceeds from borrowings – net - - Interest paid - - Net cash from financing activities - - Net (decrease)/increase in cash and cash equivalents (-) (-) Cash and cash equivalents at beginning of period 1.511 1.575	Half year ended





























Cash and cash equivalents at end of period 1.511 1.575