| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | - | - | - | - | - |
| Gross Profit (Loss) | - | - | - | - | - |
| Operational Profit (Loss) | -792,664 | -880,490 | -9.97 | -867,987 | -8.68 |
| Net Profit (Loss) after Zakat and Tax | -812,820 | -600,613 | 35.33 | -1,455,393 | -44.15 |
| Total Comprehensive Income | -812,820 | -600,613 | 35.33 | -1,736,515 | -53.19 |
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Share Holders Equity (after Deducting Minority Equity) | 138,375,780 | 142,066,144 | -2.6 |
| Profit (Loss) per Share | -0.11 | -0.08 | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | The reason for the increase in net losses during this quarter compared to the same quarter of the previous year is due to the fact that the company in the previous year recorded revenue resulting from a judicial settlement, which caused a significant difference that resulted in a noticeable increase in losses for this quarter compared to the same quarter of last year. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is | The reason for the decrease in net losses during the current quarter compared to the previous quarter is due to the evidence of financing costs during the previous quarter amounting to (653,643), while financing costs decreased during this quarter to (82,656) riyals. |
| Statement of the type of external auditor's report | Emphasis of Matter |
| Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion | Note No. 1 attached to the preliminary summary financial information, which indicates that the company has incurred losses for the three-month period ending on March 31, 2023 with a value of 812,820 Saudi riyals, in addition to that the current liabilities have exceeded the current assets by an amount of 44,804,555 Saudi riyals, and the net cash used In operational activities on that date, the value of 567,795 Saudi riyals, while the company until the date of the report has not started its planned work in accordance with its strategic and operational plans and support for its future activities. These events or conditions, together with other matters described in Note 1, indicate a material uncertainty that may cast significant doubt on the Company's ability to continue as a going concern. Based on the business plan approved by the Board of Directors of the Company, in addition to the approval of the Company's shareholders on the recommendation of the Board of Directors to increase the Company's capital by an amount of SAR 225 million, the Company's management has reasonable expectations that the Company has the ability to survive as a going concern in the foreseeable future. |
-Explanation No. 12 attached to the initial summary financial information, in relation to the government grant “Agricultural Lands”, since on August 2, 2022 AD, the company received the decision of the Ministry of Environment, Water and Agriculture issued on June 30, 2022 AD, which included that a deed cannot be issued in the name of the company, but It can benefit from the land until the actual need of Saudi Aramco is fulfilled. Accordingly, the company has reclassified the government grant with intangible assets (government grant) instead of classifying it with property, machinery and equipment because it has a usufruct right from agricultural land until the actual need is met. By Saudi Aramco, or in the event of release of seizure on the land or part thereof. The administration was unable to determine the productive age for the use of agricultural lands
The total differences in employee benefits resulting from the actuarial analysis amounted to (281122) at the end of the fiscal year 2022, which caused a difference between the net loss for the year 2022 after zakat and the total comprehensive income
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