Nyce International Plc - Management accounts for the quarters ended 31 March 2025 and 31 December 2024
PR Newswire
LONDON, United Kingdom, April 29
This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.
29 April 2025
NYCE International plc
("NYCE INTERNATIONAL", "NYCE" or the "Company")
Management accounts for the quarters ended 31 March 2025 and 31 December 2024
Nyce International plc (AQUIS: NYCE) announces its unaudited management accounts reports for the quarters ended 31 March 2025 and 31 December 2024.
For further information, please contact:
Nyce International Plc |
|
Farzad Peyman-Fard, CEO Harmen Brenninkmeijer, Chairman
| enquiries@nyceint.com |
First Sentinel Corporate Finance Ltd (AQSE Corporate Adviser)
|
|
Brian Stockbridge / Gabrielle Cordeiro | +44 (0) 7858 888 007 |
Chairman Statement
Introduction
Nyce International plc (the "Company" or "NYCE") is quoted on the Aquis Stock Exchange ("AQSE") Growth Market. The Company was incorporated on 7 June 2021 and its shares were admitted to trading on 23 December 2021.
The Company recently changed its name to Nyce International Plc. The change of name was approved by Companies House on 3 April 2025. The Company's ticker symbol, under which its shares previously traded on the AQSE Growth Market namely, "CXS", has been changed to "NYCE".
In addition, the Company's website address has changed to www.nyceint.com.
Activities during the period
The Company successfully completed the acquisition of Nyce International Limited for £1,600,000, Virya VC Limited ("Virya") for £280,000 and an instance of Reelsoft AB's remote gaming server software ("RGS") and Game Aggregation Platform for £160,000 (together "the Acquisitions", and the Company, Nyce International Limited and Virya together, the "Group").
Additionally, the Company completed a fundraising of £483,000 through the issue of 241,500,000 subscription shares ("Subscription Shares") at a price of £0.002 per share (the "Issue Price") and converted the £120,000 loan note (announced on 8 January 2025) into equity, by issuing 120,000,000 Ordinary Shares at £0.001 per share ("Loan Note Shares").
Revenue for the period reflects 26 days of trading for the acquired businesses of which only NYCE International was revenue generating in the period.
In the period, £235k of expenses have been identified as non-recurring as they are attributable to the Company's relisting, the fundraising and the Acquisitions.
Furthermore, the Company has settled outstanding debt by issuing 145,800,000 Ordinary Shares ("Settlement Shares") at £0.004 per share and £0.002 per share.
Harmen Brenninkmeijer and Farzad Peyman-Fard joined the Board, respectively, as Executive Chairman and Chief Executive Officer.
Outlook
Following the relisting of the shares and the Acquisitions made on 6 March 2025, the near-term focus continues to be on the embedding of the new management team and implementation of synergies across the three acquisitions.
Expenditures will be made on the development of the acquired RGS and Aggregation Platform with a view to onboarding betting operators from as early as calendar Q3 2025, that will lead to a new and separable B2B revenue stream for the Group. Game studio integrations into the Aggregation Platform have already commenced in April 2025.
Furthermore, there will be a new website for the Company alongside introducing a highly experienced Advisory Committee from the betting and gaming industry that will be implemented during calendar Q3 2025.
Harmen Brenninkmeijer
Chairman
Consolidated Statement of Comprehensive Income for the quarters ended 31 March 2025 and 31 December 2024 | ||
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|
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| 31-Mar | 31-Dec |
2025 | 2024 | |
| £'000 | £'000 |
Revenue | 15 | - |
Cost of Sales | -13 | - |
Administrative expenses | -265 | -121 |
Operating loss | -263 | -121 |
Loss before tax | -263 | -121 |
| - | - |
Taxation | ||
Loss for the period | -263 | -121 |
Total comprehensive loss | -263 | -121 |
(Loss) per share (pence) from continuing operations attributable to | -0.018 | -0.028 |
owners of the Company - Basic and diluted earnings per share | ||
Statement of Financial Position as at quarters ended 31 March 2025 and 31 December 2024
| 31-Mar | 31-Dec |
2025 | 2024 | |
|
| |
£'000 | £'000 | |
Non-current assets |
|
|
Intangible assets - Goodwill | 1,844 | - |
Intangible assets - Other | 160 | - |
Total non-current assets | 2,004 |
|
Current assets |
|
|
Trade and other receivables | 38 | 16 |
Cash and cash equivalents | 503 | 103 |
Total current assets | 542 | 119 |
Total assets | 2,546 | 119 |
Current liabilities |
|
|
Trade and other payables | 102 | 473 |
Total current liabilities | 102 | 473 |
Net assets | 2,444 | -354 |
Capital and reserves |
|
|
Share capital: |
|
|
- Issued | 1,449 | 432 |
- Treasury | 1 | 1 |
Total share capital | 1,450 | 433 |
Share premium | 3,830 | 1,786 |
Retained earnings | -2,836 | -2,573 |
Total equity | 2,444 | -354 |
StatementofChangesinEquity
Forthequarters ended
31 March 2025
and 31 December 2024
| Share capital | Share premium | Retained earnings |
|
Total | ||||
| £'000 | £'000 | £'000 | £'000 |
As at 30 September 2024 | 433 | 1,786 | -2,452 | -233 |
Issue of share capital | - | - | - | - |
Loss for the quarter ended 31 December 2024 | - | - | -121 | -121 |
Total Comprehensive Income | - | - | -121 | -121 |
As at 31 December 2024 | 433 | 1,786 | -2,573 | -354 |
Issue of share capital | 1,017 | 2,044 | - | 3,061 |
Loss for the quarter ended 31 March 2025 | - | - | -263 | -263 |
Total Comprehensive Income | - | - | -263 | -263 |
As at 31 March 2025 | 1,450 | 3,830 | -2,836 | 2,444 |
StatementofCashFlows
Forthe quarters ended 31 March 2025
and 31 December 2024
| 31-Mar-25 | 31-Dec-24 |
| £'000 | £'000 |
Cash from operating activities |
|
|
Loss before tax | -263 | -121 |
Adjustments for: |
|
|
(Increase)/decrease in trade and other receivables | 14 | -12 |
Increase /(decrease) in trade and other payables | -264 | 115 |
Net cash (used) in operating activities | -512 | -18 |
Cash flows from investing activities |
|
|
Acquisition of Software | -160 | - |
Net cash from investing activities | -160 | - |
Cash flows from financing activities |
|
|
Issue of share capital | 897 | - |
Adjustment to share premium | 2,044 | - |
Cash acquired upon acquisition | 11 |
|
Loan received/ paid | - | 120 |
Net cash from financing activities | 2,952 | 120 |
Net cash flow for the period | 2,280 | 102 |
Cash and cash equivalents at beginning of period | 103 | 1 |
Cash and cash equivalents at end of period | 503 | 103 |
Net change in cash and cash equivalents | 400 | 103 |
Cash and cash equivalents comprise: |
|
|
Cash at bank and in hand | 503 | 103 |
| 503 | 103 |
Notestothefinancialstatements
- General information
Nyce International plc is a public limited company limited by shares and was incorporated in England on 7 June 2021 with company number 13440398. Its registered office is 16 Great Queen Street, London, WC2B 5DG.
The Company's shares are currently trading on the Aquis Stock Exchange Growth Market under symbol NYCE and ISIN number GB00BMD0WG01.
The information for periods ended 31 March 2025 and 31 December 2024 are unaudited.
- Basis of Preparation
The quarterly management accounts of have been prepared in compliance with United Kingdom Accounting Standards, including Financial Reporting Standard 102, "The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland" ("FRS 102") and the Companies Act 2006.
These management accounts are prepared on a going concern basis, under the historical cost convention.
The financial statements are presented in Pounds Sterling, which is the Company's presentation and functional
currency.
The preparation of the financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgment in the process of applying the Company's accounting policies.
The financial statements have been prepared on the historical cost basis and are presented in £'000 unless
otherwise stated.
- Going Concern
In making their assessment of going concern, the Directors, having made due and careful enquiry, are of the opinion that the Company will have access to adequate working capital to meet its obligations for the period of at least 12 months from the date of these management accounts. As at the date of this report, the Company had approximately £404k in cash at the bank.
- Goodwill
Goodwill has been calculated as gross consideration minus the net assets at acquisition.
| £'000 |
Consideration Paid | 1,880 |
Net Assets @ Acquisition - 05/03/2025 | 36 |
Goodwill | 1,844 |
- Earnings per share
| 31-Mar-25 | 31-Dec-24 | |
Earnings | £'000 | £'000 | |
Loss for the quarters ended | -263 | -121 | |
Number of shares |
|
| |
| |||
Number of shares for the purposes of basic and diluted earnings per share | 1,449,880,556 | 432,580,556 |
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Earnings per share (pence) | -0.018 | -0.028 |
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