PR Newswire
London, March 25
The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014, as retained as part of the law of England and Wales. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.
25 March 2022
ChallengerX PLC
("ChallengerX" or the “Company")
Interim report for the period ended 31 December 2021
ChallengerX PLC (AQSE: CXS), a Software-as-a-Service “SaaS 2.0” influence-monetization tech and digital marketing company serving amateur and semi-pro sports leagues, teams, and players around the world, announces its unaudited financial results for the period ending 31 December 2021.
Highlights:
Post-period highlights:
Outlook:
Market Size:
The Board believes that the market for the Company’s “influence monetization tech” is extremely large in the context of the global amateur and semi-pro sports ecosystem, which includes players, teams, sports news sites, and other influencers such as commentators and bloggers. Globally the number of active football (soccer) clubs is well over 1,000,000, and each of these clubs likely has 20 to 25 players, many of whom have their own fans and following. Nearly 100% of these clubs and players are eager to increase their income without incurring any upfront costs, and with a total market of only 1,000,000 clubs that could on average generate just £100 in monthly revenues for the Company, it would set the total available market at £1.2 billion per annum.
Commenting on the results, John May, Non-Executive Chairman of ChallengerX, said: “The Company’s successful flotation on the AQSE Growth Market was a significant milestone and provided the Company with the investor base and capital it needs to continue the development of its influence monetization technologies and new customer acquisition initiatives.”
The directors of ChallengerX plc accept responsibility for this announcement.
I would also like to take this opportunity to thank all our shareholders for their support.
John May, Non-Executive Chairman
For further information please contact:
| ChallengerX | |
| John May Non-Executive Chairman |
Phone: +44 7860 715075 Email: [email protected] |
| Brian Connell, CFA Finance Director and CEO |
Phone: +44 207 459 4148 Email: [email protected] |
| First Sentinel, Corporate Adviser | |
| Brian Stockbridge Gabrielle Cordeiro |
+44 7876 888 011 |
About ChallengerX PLC:
Listed on the Aquis Stock Exchange in London, ChallengerX plc, is a Software-as-a-Service “SaaS 2.0” monetization technology and digital marketing company serving sports clubs, players, sports news sites, and other influencers around the world. Its technology helps its customers, at no additional cost, generate incremental recurring revenues from their existing followers and from the photos and videos they already post online.
ChallengerX also offers bespoke service packages that help clubs develop and build their brand, rapidly grow their base of fans, gain additional higher-end sponsors, and source and sell club merchandise through a club-branded eStore the Company operates on each club’s behalf.
Unaudited consolidated statement of comprehensive income
for the period ended 31 December 2021
| Period ended 31 December 2021 |
||
| Note | £000 | |
| Continuing operations | ||
| Revenue | - | |
| - | ||
| Administrative expenses | (206) | |
| Loss before taxation | (206) | |
| Taxation | — | |
| Total comprehensive loss for the period | (206) | |
| Loss per share (pence) | 3 | |
| Basic and diluted | (0.08) |
Unaudited consolidated statement of changes in equity
for the period ended 31 December 2021
| Share | Share | Retained | ||
| capital | premium | earnings | Total | |
| £000 | £000 | £000 | £000 | |
| Total owners’ equity at 7 June 2021 | - | - | - | - |
| Transactions with owners: | ||||
| - Share capital issued by Company | 288 | 1,179 | - | 1,467 |
| - Share issue costs | - | - | - | - |
| Total transactions with owners | 288 | 1,179 | - | 1,467 |
| - Comprehensive loss: | ||||
| - Loss for the period | - | - | (206) | (206) |
| Total comprehensive loss for the period | - | - | (206) | (206) |
| Total owners’ equity at 31 December 2021 | 288 | 1,179 | (206) | 1,261 |
Consolidated Statement of financial position
as of 31 December 2021
| 31 Dec 2021 | ||
| Note | £000 | |
| Assets | ||
| Non-current assets | ||
| Intangible assets – goodwill | 18 | |
| Current assets | ||
| Trade and other receivables | 16 | |
| Cash and cash equivalents | 1,385 | |
| 1,401 | ||
| Liabilities | ||
| Current liabilities | ||
| Trade and other payables | 158 | |
| 158 | ||
| Net current assets | 1,243 | |
| Net assets | 1,261 | |
| Owners’ equity | ||
| Ordinary Share Capital | 2 | 288 |
| Share premium | 1,179 | |
| Retained earnings | (206) | |
| Total owners’ equity | 1,261 |
Unaudited Consolidated statement of Cash Flows
for the period ended 31 Dec 2021
| Period ended 31 Dec 2021 |
||
| £000 | ||
| Loss before taxation | (206) | |
| Changes in working capital | ||
| (Increase) / Decrease in trade and other receivables | (16) | |
| Increase/(decrease) in payables | 158 | |
| Net cash flow from operating activities | 142 | |
| Cash flows from investing activities | ||
| Goodwill on acquisition | 18 | |
| Net cash from investing activities | - | |
| Cash flows from financing activities | ||
| Proceeds from issue of Ordinary Shares | 1,467 | |
| Net cash from/(used in) financing activities | 1,467 | |
| Net increase/(decrease) in cash and cash equivalents | 1,385 | |
| Cash and cash equivalents at beginning of period | - | |
| Cash and cash equivalents at end of period | 1,385 |
Notes to the interim accounts
for the period ended 31 December 2021
1. General information and accounting policies
2. Issued capital
Issued capital follows:
| 31 December 2021 | |
| Issued and fully paid | £000 |
| 287,585,000 Ordinary shares of 0.01 pence each | 288 |
3. Loss per Ordinary Share
The loss per share has been calculated based on the following results and weighted average number of shares:
| 31 December 2021 £000 |
|
| Loss attributable to Ordinary Shareholders | (£206) |
| Weighted average shares in issue | |
| Weighted average number of shares for the purposes of basic earnings per share | 252,405,440 |
| Basic and diluted loss per share (pence) | (0.08p) |
DISTRIBUTION OF INTERIM REPORT
Copies of the Interim Report for the period ended 31 December 2021 are available on the Company's website www.challengerx.io.
