DJ Coinsilium Group Limited: UNAUDITED CONSOLIDATED INTERIM FINANCIAL STATEMENTS FOR THE SIX-MONTH PERIOD ENDED 30 JUNE 2025
Coinsilium Group Limited (COIN)
Coinsilium Group Limited: UNAUDITED CONSOLIDATED INTERIM FINANCIAL STATEMENTS FOR THE SIX-MONTH PERIOD ENDED 30 JUNE
2025
24-Sep-2025 / 07:00 GMT/BST
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COINSILIUM GROUP LIMITED
UNAUDITED CONSOLIDATED INTERIM FINANCIAL STATEMENTS
FOR THE SIX-MONTH PERIOD ENDED 30 JUNE 2025
UNAUDITED CONSOLIDATED INTERIM FINANCIAL STATEMENTS FOR THE SIX-MONTH PERIOD ENDED 30 JUNE 2025
Coinsilium Group Limited ("Coinsilium" or the "Company"), the Web3 investor, advisor, and venture builder, is pleased
to announce its unaudited consolidated interim financial statements for the six months ended 30 June 2025.
The Directors of Coinsilium Group Limited take responsibility for this announcement.
For further information, please contact:
Coinsilium Group Limited +44 (0) 7785 381 089
Malcolm Palle, Executive Chairman +350 2000 8223
Eddy Travia, CEO www.coinsilium.com
Peterhouse Capital Limited
+44 (0) 207 469 0930
(AQUIS Exchange Corporate Adviser)
SI Capital Limited
Nick Emerson +44 (0) 1483 413 500
(Broker)
Oberon Capital (Joint Broker)
+44 (0) 20 3179 5300
Nick Lovering, Adam Pollock
OAK Securities (Joint Broker)
+44 (0) 20 3973 3678
Damion Carruel, Calvin Man
Chairman and CEO Statement
It is with pleasure that we present shareholders the Group's interim financial report to 30 June 2025 and business updates.
Having successfully overcome and adapted through 3 bear markets in the crypto space since our launch as a public company in 2015, it is with great pleasure that we note that our resilience and perseverance through these difficult times has paid off as the industry now shows signs of becoming substantially more normalised, with significant asset valuation increases over the last year and a broad based expansion in market adoption of the digital asset class. Whilst there will remain periods of volatility in the future, the longer term trend remains supportive of the digital assets market in general, as indicated by the growing adoption of crypto friendly regulation by authorities across the world, enabling the expansion of investors capacity to participate in this asset class.
The Group has seen an unprecedented level of activity over the last 6 months following the launch of our Bitcoin treasury project Forza! in March 2025. The implementation of this strategy, at a time of increasing global market awareness and normalisation of crypto assets, and Bitcoin in particular, has facilitated us raising approx. GBP17m before costs over the summer in support of this treasury function, which at the time of writing holds approx. 182 BTC. This phenomenal market reception has secured the foreseeable funding needs for the Group's primary operations whilst also allowing us to add substantial amounts of Bitcoin to our balance sheet in support of future non-dilutive value growth in this asset, which we continue to believe is the ultimate long term trend, notwithstanding the likelihood of future volatility as bitcoin continues to normalise and take its place as a global reserve asset and long term store of value.
As regards the investment side of the business, we believe the broad-based normalisation of the industry creates superior market conditions for our various investments to develop their projects and generate the potential value we have seen in their prospects.
Our investment in the Yellow Network presents the nearest term source of potential value accretion following some exciting developments on this project. The project recently completed a Regulation D compliant token sale on the Republic platform, raising over USUSD1m from accredited US investors in what was an oversubscribed funding round highlighting the level of market demand and interest in promising projects. Yellow expects to launch its USDYELLOW token soon, currently expected in 4Q25 and anticipates these being listed on tier-one digital asset exchanges. The launch of the tokens will result in our initial USUSD200k SAFT (Simple Agreement for Future Tokens) investment yielding USDYELLOW tokens to the Group over an orderly market preserving vesting schedule, the total number of which accruing to us over this timeframe we expect to be able to confirm at the point of the token launch.
Following the token launch, the public market traded valuation of these tokens will allow us to reclassify our investment from a SAFT held at cost (approx. GBP150k) into a token investment which we can "mark to market" under the IFRS Fair Value approach to tradable assets. This in turn presents us with a potentially strong catalyst for future value growth within our investment portfolio of potentially strategic significance, which we will be monitoring closely over the coming months.
We remain in close contact with Yellow Network as with all our other portfolio investments and look forward to providing more updates on developments across these ventures as they continue to develop towards potentially value-accretive milestones. Notably, we are also encouraged by the progress being made at both Greengage and Otomato and we are hopeful that we will be in a position to update the market on developments in the coming period.
During the 6 months to June 2025, being the period covered by this financial report, the Group operated to a loss of approx. GBP590k (30 June 24: profit of GBP30k), largely made up of GBP510k of admin costs (30 June 24: GBP490k) and foreign exchange losses. Comparison of the bottom line between the two reporting periods is made more complex by the substantial gains on our "pre-Forza!" crypto reserves having been captured last year, alongside investment fair value increases in the same period.
What tells a clearer story of the developments in the business during the period is the movement in Bitcoin holdings from GBP507k at 30 June 2024 to GBP5.8m as at the reporting date of 30 June 2025, alongside cash of GBP3.5m at the same date, compared with GBP430k at 30 June 2024 and GBP290k at 31 December 2024. As at the reporting date, Coinsilium held approximately 74 Bitcoin, valued at GBP5.8m. Furthermore, as disclosed under "Post Balance Sheet Events", following the end of the reporting period the Company successfully raised a further GBP8.3m before costs. This enabled the purchase of an additional 108 Bitcoin, bringing our current total treasury position to approximately 182 Bitcoin. Based on values at the time of writing, this equates to a holding valued at around GBP15m.
This reserve asset position places us on a stronger footing than ever before, securing the future of the business, providing us with substantial digital asset growth exposure and consequent options to pursue the growth of our business activities in a non-dilutive manner.
The recent emergence of so-called Bitcoin treasury companies has generated renewed investor interest in Bitcoin as a treasury asset. However, it is also important to differentiate Coinsilium's positioning in this space.
Coinsilium is not simply a pure-play Bitcoin treasury vehicle. Rather, we are a long-established, industry-native participant in the digital asset space, operating with deep sectoral knowledge, a diverse portfolio of early-stage investments, complimented by a strategic and significant Bitcoin treasury subsidiary in Forza!. While the accumulation and stewardship of Bitcoin is a core pillar of our strategy, it is complemented by our broader investment activities across the digital asset landscape.
Unlike other companies whose value proposition is solely tied to Bitcoin price exposure, Coinsilium has the potential - subject to vesting schedules, commercial considerations, and regulatory compliance - to realise value from its equity and token investments, when and where appropriate. This may provide us with opportunities to direct proceeds into further Bitcoin accumulation in a manner that is potentially non-dilutive to shareholders.
We are also extremely mindful of the current volatility in our share price and the limitations of the narrow valuation metrics often used to assess companies in this sector. We would therefore encourage investors to look beyond headline comparisons and to consider the unique structure and strengths of the Coinsilium model. Our ability to generate long-term value is underpinned not just by Bitcoin exposure, but also by our participation across the broader digital asset economy, our early-stage investment footprint, and the optionality built into our strategic positioning.
From mid-May to early August, the Company was highly active in fundraising and deploying capital into Bitcoin, taking Forza's treasury from a standing start to 182 Bitcoin in a rapid timeframe. Since then, activity has been governed by prevailing market conditions, and this should not be misinterpreted as a pause in strategy. Rather, our approach remains governed by discipline and by the parameters set out in our published Bitcoin Treasury Policy, which provides a clear framework for when and how treasury activities are undertaken. All of our Bitcoin acquisitions to date have been 100% aligned with these principles and carried out on a basis we believe to be value-accretive to shareholders.
Looking ahead, our ambition to grow our Bitcoin treasury remains undiminished. Market conditions and valuation considerations will always influence the pace of accumulation, but our philosophy is clear: we did not come this far, just to come this far. The Directors remain committed to building on the strong foundations already established, and when conditions are more conducive, we will be positioned to act decisively, whether through further fundraising in a disciplined, shareholder-protective manner or through the potential to realise value from our broader investment portfolio.
In summary, our financial and asset position has never been stronger, the broader environment for digital assets - and the ecosystems in which our investee projects operate - has never been more supportive, and it is with renewed confidence and focus that we look forward to updating shareholders on further developments in the months ahead.
We would like to take this opportunity to thank our shareholders for their continued support, which is especially valued during these more volatile and challenging times. Please be assured that we are working diligently to navigate current market conditions, and we believe that Coinsilium is well positioned to deliver long-term value to our shareholders through our differentiated strategy and a responsible approach to growth.
6 months to
6 months to 30
June
30 June
Note 2025
2024
Unaudited
Unaudited
GBP GBP
Revenue from contracts with customers 3,000 3,000
Gross Profit 3,000 3,000
Administrative expenses (512,938) (489,227)
Gain/(loss) on other current assets 4,834 177,743
Net fair value gains/(losses) on financial assets at fair value - 336,160
through profit or loss
Profit/(Loss) before Income Tax (505,104) 27,676
Financial Income 323 438
Forex Gain/(Loss) (89,393) 1,431
Profit/(Loss) for the Period from Continuing Operations Attributable (594,174) 29,545
to Owners of the Parent
Other Comprehensive Income
Items that may be subsequently reclassified to profit or loss
Change in fair value of other current assets at fair value through
other comprehensive income
- -
Total Comprehensive Loss for the Period, Attributable to Owners of (594,174) 29,545
the Parent
Earnings per Share
Basic earnings per share attributable to equity holders of the Parent 4 (0.24)p 0.01p
As at
As at As at
Note 30 June 30 June
2025 2024
31 December
2024
Unaudited Unaudited Audited
GBP GBP GBP
Assets
Non-Current Assets
Intangible assets 116,500 120,220 120,220
Property, plant and equipment 693 923 808
Financial assets at fair value through profit or loss 5 1,892,006 2,498,677 1,949,242
-
2,009,199 2,619,820 2,070,270
Current Assets
Trade and other receivables 158,658 99,959 58,947
Cash and cash equivalents 3,478,246 429,581 286,999
Other current assets 6 6,292,450 1,061,520 957,655
9,929,354 1,591,060 1,303,601
Total Assets 11,938,553 4,210,880 3,373,871
Equity Attributable to Owners of the Parent
Share premium 18,240,701 8,878,484 9,232,304
Share option reserve 304,397 673,811 402,918
Other reserve 504,114 504,114 504,114
Retained losses (7,458,297) (5,946,651) (6,962,644)
Total Equity Attributable to Owners of the Parent 11,590,915 4,109,758 3,176,692
Current Liabilities
Trade and other payables 347,638 101,122 197,179
Total Liabilities 347,638 101,122 197,179
Total Equity and Liabilities 11,938,553 4,210,880 3,373,871
Attributable to equity shareholders
Share
Treasury Share Option Shares to Other Retained
Shares Reserve Issue Reserves losses Total
Premium
GBP GBP GBP GBP GBP GBP GBP
Balance as at 1 8,658,154 - 353,991 - 504,114 (5,976,196) 3,540,063
January 2024
Profit for the - - - - - 29,545 29,545
period
Total comprehensive - - - - - 29,545 29,545
income
Issue of shares 556,400 - - - - 556,400
Cost of issuing (16,250) - - - - (16,250)
shares
Issue of warrants (319,820) - 319,820 - - -
Shares to issue - - - - - - -
8,878,484 - 673,811 - 504,114 (5,946,651) 4,109,758
Balance as at 30
June 2024
Balance as at 1 9,232,304 - 402,918 - 504,114 (6,962,644) 3,176,692
January 2025
Profit for the - - - - - (594,174) (594,174)
period
Total comprehensive - - - - - (594,174) (594,174)
income
Issue of shares 8,946,802 - - - - 8,946,802
Cost of issuing (492,255) - - - - (492,255)
shares
Exercise of warrants 553,850 - (98,521) - 98,521 553,850
Balance as at 30 18,240,701 - 304,397 - 504,114 (7,458,297) 11,590,915
June 2025
6 months Year to 31
6 months December
to 30 June
2025
to 30 June
2024 2024
Unaudited Unaudited Audited
GBP GBP GBP
Cash flows from operating activities
Profit/(Loss) before taxation (594,174)
29,545 (987,747)
Adjustments for:
Depreciation 115 116 231
Finance income - (438) (842)
Impairment of intangible assets 3,720 - -
Decrease / (increase) in financial assets at fair value - (335,895) 138,288
through profit or loss
Equity settled transactions 196,800 83,900 -
Share based payments - - 50,226
Unrealised gain on crypto tokens at FV 66,869 (32,607) (252,364)
Realised gain/(loss) on crypto tokens (71,703) (145,136) (99,790)
Impairment of financial assets - - 243,734
Unrealised foreign exchange movements 89,393 (19,085) 867
(Increase)/decrease in trade and other receivables (95,861) 7,779 1,995
(Decrease)/increase in trade and other payables 150,459 (1,067) 193,890
Net cash generated from/(used in) operating activities
(254,382) (412,888) 711,512)
Cash flows from investing activities
Interest received - 438 842
Purchase of other current assets (5,470,789) (191,827) (472,395)
Proceeds on disposal of other current assets 104,821 293,851 711,057
Net cash (used in)/generated from investing activities
(5,365,968) 102,462 239,504
Cash flows from financing activities
Net cash proceeds from issue of shares 8,811,597 456,250 475,250
Net cash (used in)/generated from financing activities
8,811,597 456,250
472,250
Net increase/(decrease) in cash and cash equivalents 3,191,247 145,824 3,242
Cash and cash equivalents at the beginning of the period/ 286,999 283,757 283,757
year
Cash and Cash Equivalents at end of Period/Year
3,478,246 429,581 286,999
1. Basis of Preparation
Coinsilium Group Limited ("the Group" or "the Company") is a limited liability company domiciled in the British Virgin Islands, operationally based in Gibraltar and is quoted on the Aquis Growth Market.
The principal business of the Company and its subsidiaries (together the "Group") is investing in and accelerating blockchain technology companies, together with a venture builder and token sale strategic adviser that finances innovative blockchain companies, with the intent of supporting the further development and commercialisation of these technologies. The Group also provides advisory and promotional services to technology startups and companies looking to issue tokens via Token Generation Events such as Initial Coin Offerings.
The consolidated interim financial statements have been prepared in accordance with the requirements of the Aquis Growth Market listing rules for Companies and should be read in conjunction with the annual financial statements for the year ended 31 December 2024, which have been prepared in accordance with International Financial Reporting Standards (IFRS) and IFRS Interpretations Committee (IFRS IC) interpretations as adopted by the European Union. As permitted, the consolidated interim financial statements have not been prepared in accordance with International Accounting Standard 34 'Interim Financial Reporting'.
2. Financial Information
The consolidated interim financial statements do not constitute statutory accounts. They have been prepared on a going concern basis in accordance with the requirements of the Aquis Growth Market listing rules for Companies and the recognition and measurement criteria of IFRS. Except as described below, the accounting policies applied in preparing the interim consolidated financial statements are consistent with those that have been adopted in the Group's 2024 audited financial statements. Statutory financial statements for the year ended 31 December 2024 were approved by the Board of Directors on 26 June 2025. The report of the auditors on those financial statements was unqualified.
Going concern
The Directors have a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future. For this reason, the Directors continue to adopt the going concern basis in preparing the Financial Statements.
Risks and uncertainties
The key risks that could affect the Group's short- and medium-term performance, and the factors that mitigate those risks have not substantially changed from those set out in the Group's 2024 Annual Report and Financial Statements, a copy of which is available on the Company's website: www.coinsilium.com. The Group's key financial risks are liquidity, equity securities price risk and foreign exchange movements.
Accounting policies
The preparation of consolidated interim financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the end of the reporting period. Significant items subject to such estimates are set out in note 4 of the Group's 2024 Annual Report and Financial Statements. The nature and amounts of such estimates have not changed significantly during the interim period. The consolidated interim financial statements have been prepared on the historical cost basis, except for the measurement to fair value of certain financial instruments.
Changes in accounting policies and disclosures
There are no new and amended IFRS standards that are effective for the first time for the financial year commencing 1 January 2025 that would be expected to have a material impact on the Group.
The consolidated interim financial statements for the 6 months ended 30 June 2025 and for the 6 months period ended 30 June 2024 have not been reviewed or audited.
3. Directors Remuneration
Directors of the Company received total remuneration of GBP202,395 for the 6 months ended 30 June 2025 (30 June 2024: GBP203,169).
4. Earnings Per Share
Basic earnings per share is calculated by dividing the total comprehensive income attributable to equity shareholders by the weighted average number of ordinary shares outstanding during the period.
Weighted As at 30 June 2025 As at 30 June 2024
average
number of
Shares
Earnings per Share Earnings per Share
GBP No. GBP GBP
Basic EPS
Earnings attributable to
shareholders
(594,174) 245,668,394 (0.24) 0.01
In the period, the Group operated to a loss such that the effects of the exercise of any dilutive instruments would be anti-dilutive. Consequently, no fully diluted earnings per share has been presented in these interim financial statements.
5. Financial Assets at fair value through profit and loss
At 30 June 2025, the Company owns unlisted shares in:
-- Greengage Global Holding Ltd, a company incorporated in UK; -- Arcadian Youth Pte. Ltd. in Singapore; -- Coin-Dash Ltd, a company incorporated in Israel; and -- Indorse Pte. Ltd., a company incorporated in Singapore.
The below table provides a reconciliation of movements in FVTPL investments held in the period:
GBP Startup Token Coindash Indorse Elevate Greengage Silta Total 1 January 2024 360,905 176,744 852,492 78,553 652,537 41,551 2,162,783 Revaluation - 434,985 (98,825) - - - 336,160 Foreign exchange - 1,205 - 537 - (2,007) (266) 30 June 2024 360,905 612,934 753,667 79,089 652,537 39,544 2,498,677 1 January 2025 360,905 632,307 263,699 - 652,537 39,793 1,949,241 Foreign exchange - (53,846) - - - (3,389) (57,235) 30 June 2025 360,905 578,461 263,699 - 652,537 36,404 1,892,006
During the second half of the prior year, the equity investment in Elevate was reclassified as Right to Receive Future Tokens following commercial discussions with the investee. Consequently this instrument was not held as a FVTPL investment at the start of the current period.
6. Other Current Assets
Other Current Assets at the reporting date are made up of the following:
30 June 2025 30 June 2024
GBP GBP
Digital Asset Tokens 5,847,361 561,145
Rights to Future Tokens 396,425 451,711
Crypto Stamps 48,664 48,664
Total 6,292,450 1,061,520
Movements in Digital Asset Tokens in the period were as follows:
30 June 2025 30 June 2024
GBP GBP
B/f 476,561 466,373
Additions 5,470,789 191,827
Disposals - cost (33,118) (419,908)
Disposals - realised gain (71,703) 145,136
Unrealised gains on revaluation 4,834 177,716
Transaction costs (2) -
C/f 5,847,361 561,144
Of which, comprising BTC 5,839,260 507,581
7. Dividends
The Directors do not recommend the payment of a dividend.
8. Post Balance Sheet Events
In the period following the reporting date to release of these financial statements, the Group raised a further GBP8.3m in gross equity funding, facilitating the purchase of a further 108.2 BTC for the Group's Forza! BTC Treasury reserves at a total cost of GBP5.6m.
9. Approval of Interim Financial Statements
The interim financial statements were approved by the Board of Directors on 23 September 2025.
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ISIN: VGG225641015 Category Code: MSCM TIDM: COIN Sequence No.: 403005 EQS News ID: 2202762 End of Announcement EQS News Service =------------------------------------------------------------------------------------
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