ETranzact International : E-TRANZACT INTERNATIONAL PLC- QUARTER 2 - FINANCIAL STATEMENT FOR 2022

eTRANZACT INTERNATIONAL PLC

UNAUDITED FINANCIAL STATEMENTS

FOR THE SECOND QUARTER ENDED 30TH JUNE 2022

eTRANZACT INTERNATIONAL PLC

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

FOR THE SECOND QUARTER ENDED 30TH JUNE 2022

	Unaudited	Unaudited	Unaudited	Unaudited
	30/06/2022	30/06/2021	Q2 2022	Q2 2021
	N'000	N'000	N'000	N'000
Continuing operations
Revenue	11,621,245	11,215,673	6,272,992	6,032,947
Cost of sales	(9,677,332)	(10,127,745)	(5,158,055)	(5,389,366)
Gross profit	1,943,913	1,087,928	1,114,936	643,582
Selling and Marketing costs	(63,113)	(16,034)	(40,556)	(11,235)
Administrative expenses	(1,404,218)	(1,042,746)	(747,979)	(594,891)
Operating profit	476,582	29,148	326,402	37,455
Other Income	-	24,310	-	-
Finance Cost	(11,009)	(11,570)	(5,393)	(6,202)
Investment income	135,642	45,699	39,357	21,216
Profit before tax	601,215	87,586	360,366	52,469
Taxation	(192,389)	(28,027)	(115,317)	(16,790)
Profit for the period	408,826	59,559	245,049	35,679

There is no other comprehensive income for the period, hence the profit for the period is equal to the total comprehensive income.

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eTRANZACT INTERNATIONAL PLC

STATEMENT OF FINANCIAL POSITION AS AT 30TH JUNE 2022
		Unaudited	Unaudited
		30/06/2022	12/31/2021
	Note	N'000	N'000
Non-current assets
Property, plant and equipment	1	835,128	789,103
Investment property	2	136,810	136,810
Intangible assets	3	124,327	149,280
Deposit for shares		456,755	456,755
Total non-current assets		1,553,021	1,531,948
Current assets
Inventories	6	1,192,967	1,278,609
Trade and other receivables	7	940,641	963,497
Other assets	5	2,269,670	1,240,463
Cash and cash equivalents	8	11,135,769	5,896,939
Total current assets		15,539,046	9,379,508
Total assets		17,092,066	10,911,456
Non-Current liabilities
Deferred tax liability	4	-	-
Deferred Grant Income	10	107,447	107,447
Long term Loan	10	332,725	368,779
		440,172	476,226
Current liabilities
Trade and other payables	9	7,704,985	7,802,480
Current tax liabilities	11	411,448	219,059
Total current liabilities		8,116,433	8,021,539
Total liabilities		8,556,605	8,497,765
Equity
Share capital	12	3,317,283	3,317,283
Share premium account	13	2,969,824	2,969,824
Irredeemable Convertible Debenture	14	5,712,944	-
Retained earnings	15	(3,464,590)	(3,873,416)
Total equity attributable to owners of the company	8,535,461	2,413,691
Total equity and Liabilities		17,092,066	10,911,456

The financial statements was approved by the Board of Directors on July 28, 2022 and signed on its behalf by:

	……………………………..
Mr Niyi Toluwalope	Mr Emmanuel Ogunji
Chief Executive Officer	Chief Financial Officer
FRC/2013/ICAN/00000002251	FRC/2014/ICAN/00000007266

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eTRANZACT INTERNATIONAL PLC

STATEMENT OF CHANGES IN EQUITY

FOR THE SECOND QUARTER ENDED 30TH JUNE 2022

		Share	Convertible	Retained
	Share capital	premium	Debenture	earnings	Total
	N'000	N'000	N'000	N'000	N'000
Balance at 1 January 2021	2,100,000	646,875	-	(4,329,165)	(1,582,290)
Additions through right issue	1,217,283	2,322,949	-	-	3,540,232
Profit for the year	-	-	-	455,749	455,749
Other comprehensive income	-	-	-	-	-
Total comprehensive income	-	-	-	455,749	455,749
Balance at 31 December 2021	3,317,283	2,969,824	-	(3,873,416)	2,413,691
Balance at 1 January 2022	3,317,283	2,969,824	-	(3,873,416)	2,413,691
Additions through debenture issue	-	-	5,772,225	-	5,772,225
Issue Cost	-	-	(59,281)	-	(59,281)
Profit for the period	-	-		408,826	408,826
Other comprehensive income for the period	-	-		-	-
Total comprehensive income	-	-		408,826	408,826
Balance at 30 June 2022	3,317,283	2,969,824	5,712,944	(3,464,590)	8,535,461

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eTRANZACT INTERNATIONAL PLC

CASHFLOW STATEMENT FOR THE SECOND QUARTER ENDED 30TH JUNE 2022

Cashflow from operating activities

Cash receipt from customers

Cash paid to suppliers and employees

Cash generated from operations

Income taxes paid

Net cash generated by operating activities

Cashflow from investing activities Purchase of property, plant and equipment Additions to intangible assets

Interest received and similar income Interest on Loan

Proceeds from sale of Investment Property Proceeds from sale of Property, plant and equipment

Net cash (used in)/generated by investing activities

Cashflow from financing activities

Net Proceeds from Debenture Issue

Issue Cost

Repayment of Loan Principal

Repayment of Interest on Loan

Loan obtained

Net cash generated by financing activities

Net increase in cash and cash equivalents Effects of exchange rate on year end bank balances Cash and cash equivalents at beginning of year

Cash and cash equivalents at end of the period

	30/06/2022	12/31/2021
Note	N'000	N'000
	11,644,742	23,323,576
	(11,997,887)	(24,549,221)
	(353,146)	(1,225,645)
11	-	(10,709)
	(353,146)	(1,236,354)
1	(202,632)	(408,601)
3	(7,256)	(47,404)
	135,642	111,348
	(11,009)	(34,202)
	-	268,155
	-	-
	(85,255)	(110,705)
	5,772,225	3,540,232
	(59,281)
	(35,714)	(35,714)
	-	(23,138)
10	-	100,000
	5,677,230	3,581,380
	5,238,829	2,234,319
	-	23,910
	5,896,939	3,638,710
8	11,135,769	5,896,939

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