08:00 Wed 23 May 2018
OptiBiotix Health - Final Results
("OptiBiotix" or the "Company")
Final Results
OptiBiotix
The Company has made strong progress during this period as it continues its transition from a development company into a commercial business. This period has seen the company sign a number of commercial deals of increasing value across its product range as it builds multiple revenue streams from manufacturing, application and distribution partners across the world.
Highlights
· Two agreements signed with Tata Chemicals - one for SlimBiome® for the Indian market, and the second to scale up and manufacture the companies cholesterol reducing prebiotic (LPGOS)
· Global profit sharing agreement signed with Sacco S.r.l. to manufacture and supply LPLDL®
· Two key Board appointments to support the commercialisation and global expansion of products.
· European launch of SlimBiome® and LPLDL® products at the Vitafoods Europe tradeshow in
· A total of ten commercial agreements signed in the 12 month reporting period
· Award winning publications and presentations delivered at major international conferences
· Award for SlimBiome® as 'Best Functional Ingredient for Health and Wellbeing' at Food Matters
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· Admission of majority owned skincare subsidiary, SkinBiotherapeutics (formerly SkinBiotix), to AIM with an associated
· Profit after tax of
Post-period end highlights
· A US manufacturing, supply and profit sharing agreement with
· Completion of five successful human taste studies on its SweetBiotix® demonstrating high sweetness and low off flavours
· An exclusive royalty bearing agreement with
· A five year distribution agreement with
· A non-exclusive distribution agreement with
· A five year agreement with
· The appointment of
· Award for SlimBiome® as for Weight Management Ingredient of the Year at Vitafoods 2018 'Best Functional Ingredient for Health and Wellbeing' at Food Matters
This announcement contains information which, prior to its disclosure, was considered inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 (MAR).
For further information, please contact:
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Contact via Walbrook below |
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Tel: 020 7213 0880 |
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finnCap (Broker) |
Tel: 020 7220 0500 |
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Tel: 020 7933 8780 or optibiotix@walbrookpr.com |
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Mob: 07876 741 001 |
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Chairman's and Chief Executive Statement
We are pleased to present
OptiBiotix has made strong progress during this period in its strategy of developing compounds which modify the human microbiome, developing partnerships with industry, and broadening its position in the microbiome space. This period reflects the transition of OptiBiotix from a research and development company into a commercial business, with the appointment of a Commercial Director, Per Rehne, and Sales & Marketing Director,
Key Achievements
During the period to date we have achieved a number of key objectives which continue to build shareholder value. These include: -
· Two agreements with Tata Chemicals, one of
· The appointment of Per Rehne as Commercial Director, and
· A global profit sharing agreement with Sacco S.r.l., one of
· Launch of OptiBiotix's SlimBiome® and LPLDL® products at the Vitafoods Europe tradeshow in
· The signing of ten commercial agreements: -
§ Two for the manufacture, supply and distribution of SlimBiome®
§ Seven for the manufacture, supply, and distribution of LPLDL®
§ One for the manufacture and supply of LPGOS
· Presentation of OptiBiotix's science at international conferences including: the European MicroBiome Summit (
·
· The admission of OptiBiotix's majority owned skincare subsidiary, SkinBiotherapeutics (formerly SkinBiotix), to AIM with an associated
· A profit after tax of
Subsequent to the year end a number of further key agreements were reached which continue to build shareholder value: These include:-
· A US manufacturing, supply and profit sharing agreement with
· An exclusive royalty bearing agreement with
· A five year distribution agreement with
· A non-exclusive distribution agreement with
· A five year agreement with
Research and Development (R&D) strategy
To exploit the diversity of opportunities, the Company has developed a number of pharmaceutical level technology platforms using different approaches to modulate the microbiome. These technology platforms have now moved through the development process of laboratory studies, independent human studies with world-renowned key opinion leaders and manufacturing scale up. These platforms provide a proven systematic approach to the development of products with the science winning awards at major international scientific conferences and the products they produce awarded industry prizes for innovation. The validation of these technology platforms has substantially reduced investor technical and clinical risk and created industry leading capability for the development of further products by OptiBiotix and its partners both.
OptiBiotix's R&D strategy has been designed to create technology platforms and intellectual property which provide multiple product and partnering opportunities both within each platform, and by combining platforms. For example, by combining our cholesterol reducing strain, LPLDL®, with galacto-oligosaccharides (LPGOS) produced from it, we can selectively enhance its growth and increase cholesterol reduction threefold. This means that for a limited amount of extra investment, we have the potential to create large amounts of additional value and expand the market opportunities. Whilst this approach has complexity, it has been designed to mitigate development risk in the evolving microbiome field and provide a cost-effective way to build overlapping intellectual property ("IP") and exploit the many opportunities offered by the microbiome.
The other advantage of this approach is that as these platforms are structured under separate divisions, each containing its own technology platform, IP portfolio and partner agreements, they could in due course become separate legal entities with the potential for investment or a public listing. This strategy allows investors in OptiBiotix to build up a broad-based investment portfolio across a number of areas in the microbiome space which diversifies risk, whilst offering shareholders multiple opportunities in the microbiome space. Whilst each division has a different technological base they are united by a common theme of: -
· Understanding the underlying science and mechanism of action in laboratory studies. This allows us to optimise our products and identify multiple application opportunities
· Proving our products are safe and that they work in humans by carrying out independent clinical studies and publishing them in leading peer reviewed journals authored by leading academics well known to industry
· Working with world renowned key opinion leaders who support the science behind our products
OptiBiotix's technology platforms have now moved through the development process of laboratory studies, human studies and manufacturing scale up and this has substantially reduced technical and clinical risk. This changes the risk reward ratio leading to both an increase in value and greater interest from corporate partners in the Company's technology, products and assets. Our deals with Tata Chemicals (
OptiBiotix is rapidly transitioning from a product development company to the commercial stage of the Company's development. This started with the European launch of SlimBiome® at Vitafoods in
The key to establishing the scientific maturity and credibility of our technology is the reporting and peer review of our data in scientific journals and at international conferences by independent key opinion leaders. The last twelve months has seen an increase in the number of these presentations and publications reflecting the maturity of our science. One of the most significant of these was the publication of our human studies on LPLDL®, in the peer reviewed scientific journal PLOS-One by Professor
Following on from winning the best scientific abstract at ProBiota 2017 we were pleased to win the best scientific abstract at ProBiota 2018 for the identification and development of a prebiotic which selectively enhances the growth of Lactobacillus rhamnosus GG ("LGG®") in the gut. LGG® is contained within DSM's Culturelle® probiotic range which is the best-selling probiotic supplement brand in the world. These presentations and publications raise OptiBiotix's profile and reputation, attract commercial interest in our technology and products and provide the scientific evidence for sales and marketing literature in support of product commercialisation.
As the Company transitions from a technology company to a product company, it will continue to present its science at international conferences and in leading peer reviewed journals around the world.
OptiBiome® (SlimBiome®, CardioBiome, ImmunoBiome, WellBiome® and PsychoBiome)
OptiBiome® is a range of products developed as functional ingredients to help prevent and manage many of today's chronic lifestyle diseases. SlimBiome®, the first product in the range, is a patented weight management formulation scientifically formulated by experts in weight management to reduce hunger, leading to less snacking and easier weight loss. This is a new approach to weight loss and contrasts with existing 'diet' products which typically rely on customers' self-control to restrict calories and as a consequence have a high failure rate.
The ingredients in SlimBiome® are backed up by over one thousand publications and developed such that each of the ingredients work synergistically, in that they act at different parts of the gut in three different ways. These being:-
i. They make you feel full, and hence less likely to eat as much food, or to snack between meals.
ii. They control blood sugar peaks and troughs reducing sugar cravings.
iii. They increase the diversity of microbes (microbiome) in the gut which helps people loose weight more quickly and most importantly sustain this weight loss.
SlimBiome® is sold as an ingredient, in white label products, and in OptiBiotix's own brand of GoFigure® range of shakes and bars. We are pleased that Tata Chemicals, one of
In addition to the commercialisation of SlimBiome the Company is extending its OptiBiome® range beyond weight management (SlimBiome®) to include cardiovascular health (CardioBiome®), immune health (ImmunoBiome®), cognitive health (PsychoBiome), and general health (WellBiome®).
OPTISCREEN, CHOLESTEROL REDUCTION AND LPLDL®
OptiBiotix's first product developed using its OptiScreen® platform is a bacterial strain targeting cholesterol and blood pressure reduction. The strain, registered under international treaty's as Lactobacillus plantarum ECGC 13110402 and branded LPLDL®, was selected by OptiBiotix's proprietary OptiScreen® technology platform from over 4,000 candidate strains. The product has successfully undergone independent human studies showing high levels of efficacy for both cholesterol and blood pressure reduction. The reduction of both cholesterol and blood pressure is a significant advantage over existing cholesterol products as the ability to reduce both LDL cholesterol and blood pressure has a multiplicative effect in reducing cardiovascular risk.
Per Rehne is leading the commercialisation of LPLDL® and has made strong progress since commencing his role as Commercial Director. Since Per's appointment, LPLDL® has undergone rapid commercial development with the announcement of seven manufacturing, application and distribution agreements since its launch at VitaFoods in
We are pleased that Sacco S.r.l. ("Sacco"), one of
Sacco produce LPLDL® as an ingredient which can be sold directly to companies or as the functional active within different formulations and presentations of both white label and branded products. One example of this is the non-exclusive agreement with Nutrilinea - one of
We believe that working with industry leading partners like Sacco, Nutrilinea and Galenicum provides the best opportunity of rapidly building LPLDL® into a leading global brand. We see LPLDL®, as the 'Intel' inside a range of products for cardiovascular health across both consumer and pharmaceutical markets. The overall aim is to achieve a multiple deal structure where we get revenues from manufacturers who produce LPLDL®, and application and formulation partners who formulate and package the product, as well as distributors who distribute the product. This creates the opportunity for multiple revenue streams from sales of the strain and white label and branded products to consumer and pharmaceutical companies around the world.
This division has a broad deal pipeline and we would anticipate further agreements with product formulation groups and distributors both within
MICROBIOME MODULATORS, OPTIBIOTICS®, AND SWEETBIOTICS®
The Company has made significant progress in its scientific programmes to develop compounds which modify the human microbiome to prevent, manage and treat disease and create natural high intensity sweeteners and sweet healthy fibres (SweetBiotix®).
These now cover three areas with each developing into a substantive opportunity in its own right: -
Microbiome modulators: OptiBiotix R&D teams have used gut models to demonstrate the ability to increase the growth rate, biological activity and health effect of specific microbial species in the human microbiome and in doing so, manipulate both the microbiome's composition and its function. This has now been demonstrated in multiple species, including OptiBiotix's cholesterol reducing LPLDL® strain and partner strains such as DSMs Lactobacillus rhamnosus GG (LGG®), contained within its Culturelle® range. The results of this study were reported with DSM as co-authors at ProBiota 2018 where it was awarded the prize for best scientific abstract. We believe this is the first reported publication of an optimised prebiotic for LGG®.
OptiBiotix reached an agreement with Tata Chemicals in
The ability to develop designer prebiotics, which can modify both the microbiome's composition and its function, creates the potential for designer ingredients or supplements which can modify an individual's current microbiome to improve health and the potential for precision microbiome medicine. This is an area of growing scientific and commercial interest with increasing evidence that the microbiome plays an important role in how the body metabolises pharmaceutical products, influencing their effectiveness and the potential for adverse reactions. The ability to create designer ingredients which can modify an individual's microbiome to improve health places OptiBiotix at the forefront of global microbiome research and product development and has the potential to substantially increase the company's value.
OptiBiotics®: OptiBiotix's R&D teams have demonstrated that by combining our cholesterol reducing strain LPLDL®, with galacto-oligosaccharides produced from it, we can selectively enhance its growth and increase cholesterol reduction threefold. Work in the last 12 months has led to the development of new high throughput carbohydrate screening platforms which have allowed the extension of these concepts to other probiotic genera and species. To the best of our knowledge, our presentations at international conferences and partner discussion lead us to believe we are one of the world's leaders in this field. We see the development of species or genera specific prebiotics which can selectively enhance the growth and health benefits of existing probiotic products as a growing area of interest to the probiotic industry, a market expected to be worth more than
SweetBiotix®: SweetBiotix® are an innovative concept with the potential to address a global requirement, addressing international concerns over the impact of sugar on obesity, with the prospect of replacing 'unhealthy' sugars in existing products with non-digestible, low calorie, healthy SweetBiotix®. These sweet natural healthy sugars are not digested in the human gut and hence calorie free. In the last 12 months, we have accelerated our development programmes in this area and carried out five successful independent human studies in which OptiBiotix's products and commercially available comparator samples were tested by an expert panel of 11 panellists who rated 11 products attributes (e.g. sweetness, aftertaste, off- flavour, bitterness etc) compared to sucrose as a benchmark. OptiBiotix's products were created by two development programmes which showed: -
i. Natural high intensity sweeteners with improved flavour profile and microbiome modulating functionality. Independent human studies have demonstrated these have a good flavour profile and sweetness of between 140x and 223x of sucrose at equivalent concentrations.
ii. Sweet natural healthy fibres being developed as potential bulk sugar replacements which are not digested in the human gut, and hence calorie free. Human studies have demonstrated these sweet fibres had the highest sweetness and lowest off-flavours when compared to a wide range of existing sugars and fibres and sucrose.
With growing concerns over traditional sugars and artificial sweeteners these results create the prospect of SweetBiotix® replacing 'unhealthy' sugars in existing products with non-digestible, low calorie, healthy SweetBiotix®. Given that the global sweetener market, currently dominated by sugar, is forecast to reach
In
The admission to AIM of SkinBiotherapeutics plc attributes value to a part of the business in which a 52% stake was acquired for
As SkinBiotherapeutics plc grows in value, OptiBiotix shareholders will benefit from the appreciation of this asset. This is an innovative business model which over time looks to give OptiBiotix shareholders a position in multiple companies, and with it the prospect of multiple returns.
SkinBiotherapeutics plc is at an early stage in its development, similar to the beginnings of OptiBiotix in
Results
OptiBiotix results for the 12 months ended
The accounts show a profit after tax of
After accounting for the adjustment, operating loss for the period is
Board and Management
We continue to evolve the Board in line with the Company's development. The last 12 months has seen a number of Board additions to reflect the increased commercial focus.
We were pleased to announce the appointment of Per Rehne as Commercial Director and
We believe with the addition of Per and Christina, we have a well-balanced Board with scientific and commercial expertise in the founder and Chief Executive
At the end of the accounting period we announced
We anticipate further additions and changes to the management team and the Board as we extend the global reach of our products and in-line with the continued growth and expansion of the Company.
Outlook
OptiBiotix is continuing its strategy of developing microbiome modulators for large markets (>
The last 12 months has seen the transition of OptiBiotix® from a research and development Company to a commercial business, with the appointment of a commercial team, product launches of SlimBiome® and LPLDL® at Vitafoods and Supply Side West, followed by the signing of 11 commercial agreements. This is all part of a commercial strategy based on closing out deals across multiple levels of the value chain, starting from manufacturing agreements such as the profit sharing agreement signed with Sacco for the production of LPLDL® and
Key to this commercial strategy is the appointment of industry leading partners like DSM, Tata, Sacco, Nutrilinea and Galenicum who provide the best opportunity of rapidly building our products into global brands. We were pleased at the high level of interest in both LPLDL® and SlimBiome® at Vitafoods and Supply Side West and hope the rich deal pipeline we have created will translate into material revenue growth in the next financial year against a continued lean cost base.
As we extend our reach into new application areas and new territories, the scale of the opportunity enlarges. The US is one of the largest and fastest growing probiotic markets in the world, with supplements alone accounting for
Whilst initial products are targeted at the ingredient and supplement markets, the gaps between neutraceuticals and pharmaceutical is narrowing. Given OptiBiotix's products have been developed using pharmaceutical platforms and our clinical studies have been designed to be consistent with phase 1 and phase 2 pharmaceutical studies, OptiBiotix has received partner interest to license LPLDL® to extend our products into biotherapeutics. This is a path OptiBiotix has explored provided the substantive investment in the development of a biopharmaceutical was supported by a suitable pharmaceutical partner. If this is achieved this has the potential to create significant value uplift given the high value deal structure typical in drug development and pharmaceutical industries. The deal announced with Akums in
As the Company enters the next stage of its development, we will need to evolve the structure to fully exploit the expanding range of opportunities and maximise revenue. Currently the Company is structured around technology platforms, such as Optiscreen® and OptiBiotics®, which creates a scientific focus. The transition from a technology to product company requires a different focus and skill set and restructuring of our website. The appointment of Per Rehne (Commercial Director), and
The Board believes OptiBiotix is at the leading edge of one of the hottest areas of healthcare innovation which is forecast to become one of the world's fastest growth areas. Over the last 12 months, we have continued our progress of building a broad based microbiome business with a strategy which best maximizes the value in each division and a diversity of IP and commercial relationships which provides shareholders with multiple opportunities. The next stage of the process involves the continued development of new application areas and extending our products into new territories and application areas, such a biotherapeutics, with suitable partners. We believe the Company has now significantly de-risked scientific, clinical and manufacturing risk across its platforms. This changes the risk reward ratio leading to an increase in value and the Company and its assets becoming an attractive proposition for corporate partners. This has led to a number of approaches from potential acquirers interested in assets in specific divisions.
The Board anticipates further scientific and commercial interest in the Company's technology and products and a future where microbiome products will make a significant contribution to the prevention, management and treatment of disease. We are pleased that our strategy of developing microbiome products with a strong scientific and clinical evidence base with key opinion leader support has provided clear product differentiation and stimulated high commercial interest. We look forward to converting this interest into a growing number of revenue generating deals, of increasing value and in a wider range of territories.
The last twelve months have seen a growing number of awards for our science, industry awards for our products, and increased deal flow. We anticipate both the rate and value of deal flow increasing as we develop new applications, take existing products into new territories, and leverage our technology platforms to develop new product opportunities.
OptiBiotix has made strong progress in the last twelve months and now looks to build on its scientific innovation, product success, and commercial interest to build a diverse microbiome business with significant value for shareholders.
On behalf of everyone at
N Davidson and S OHara
Consolidated Statement of Comprehensive Income
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Year ended 30 November 2017 |
Year ended 30 November 2016 |
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£ |
£ |
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Revenue |
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191,073 |
288,119 |
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Cost of sales |
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(73,706) |
(38,214) |
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─────── |
─────── |
Gross Profit |
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117,367 |
249,905 |
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Administrative expenses |
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(2,244,169) |
(1,765,736) |
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─────── |
─────── |
Operating loss |
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(2,126,802) |
(1,515,831) |
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Finance cost |
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(6,154) |
- |
Finance income |
|
142 |
165 |
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─────── |
─────── |
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(6,012) |
165 |
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|
|
|
Share of loss from associate |
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(294,278) |
- |
Profit on disposal of subsidiary |
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4,116,286 |
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|
|
─────── |
─────── |
Profit/(loss) before Income tax |
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1,689,194 |
(1,515,666) |
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|
|
|
Income tax |
|
228,447 |
174,544 |
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─────── |
─────── |
Profit/(loss) for the period |
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1,917,641 |
(1,341,122) |
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|
|
Other comprehensive income |
|
- |
- |
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─────── |
─────── |
Total comprehensive income for the period |
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1,917,641 |
(1,341,122) |
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═══════ |
═══════ |
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Total comprehensive income attributable to: |
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Owners of the company |
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1,907,441 |
(1,297,871) |
Non-controlling interests |
|
10,200 |
(43,251) |
|
|
─────── |
─────── |
|
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1,917,641 |
(1,341,122) |
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═══════ |
═══════ |
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Profit/(loss) per share |
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Basic profit/(loss) per share - pence |
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2.43p |
(1.67)p |
Diluted profit/(loss) per share - pence |
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2.17p |
- |
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═══════ |
═══════ |
Consolidated Statement of Financial Position
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As at |
As at |
ASSETS |
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£ |
£ |
Non-current assets |
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Intangibles |
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1,927,226 |
2,195,646 |
Property, plant & equipment |
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6,561 |
11,755 |
Investments |
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4,189,022 |
- |
|
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─────── |
─────── |
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6,122,809 |
2,207,401 |
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─────── |
─────── |
CURRENT ASSETS |
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Inventories |
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8,890 |
26,625 |
Trade and other receivables |
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106,122 |
194,230 |
Current tax asset |
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183,951 |
120,000 |
Cash and cash equivalents |
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1,247,431 |
3,115,366 |
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─────── |
─────── |
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1,546,394 |
3,456,221 |
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─────── |
─────── |
TOTAL ASSETS |
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7,669,203 |
5,663,622 |
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═══════ |
═══════ |
EQUITY |
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Shareholders' Equity |
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Called up share capital |
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1,586,628 |
7,196,010 |
Share premium |
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6,279,718 |
6,144,357 |
Share based payment reserve |
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474,517 |
417,585 |
Merger relief reserve |
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1,500,000 |
1,500,000 |
Accumulated deficit |
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(2,795,147) |
(10,345,513) |
Non-controlling interest |
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- |
90,692 |
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─────── |
─────── |
Total Equity |
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7,045,716 |
5,003,131 |
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─────── |
─────── |
LIABILITIES |
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Current liabilities |
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|
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Trade and other payables |
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239,395 |
253,805 |
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─────── |
─────── |
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239,395 |
253,805 |
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─────── |
─────── |
Non - current liabilities |
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Deferred tax liability |
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384,092 |
406,686 |
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─────── |
─────── |
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384,092 |
406,686 |
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─────── |
─────── |
TOTAL LIABILITIES |
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623,487 |
660,491 |
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─────── |
─────── |
TOTAL EQUITY AND LIABILITIES |
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7,669,203 |
5,663,622 |
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═══════ |
═══════ |
Consolidated Statement of Changes in Equity
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Called up Share capital |
Retained Earnings |
Share Premium |
Non Controlling interest |
Merger Relief Reserve |
Share-based Payment reserve |
Total equity |
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£ |
£ |
£ |
£ |
£ |
£ |
£ |
Balance at |
7,117,315 |
(9,047,642) |
3,863,687 |
- |
1,500,000 |
383,435 |
3,816,795 |
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|
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|
|
|
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Loss for the year |
- |
(1,297,871) |
- |
- |
- |
- |
(1,297,871) |
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|
|
|
|
|
|
|
Issues of shares during the year |
78,695 |
- |
2,280,670 |
- |
- |
- |
2,359,365 |
|
|
|
|
|
|
|
|
Share options and warrants |
- |
- |
- |
- |
- |
34,150 |
34,150 |
|
|
|
|
|
|
|
|
Non controlling Interest |
- |
- |
- |
90,692 |
- |
- |
90,692 |
|
────── |
─────── |
─────── |
─────── |
────── |
────── |
─────── |
Balance at |
7,196,010 |
(10,345,513) |
6,144,357 |
90,692 |
1,500,000 |
417,585 |
5,003,131 |
|
|
|
|
|
|
|
|
Profit for the year |
- |
1,917,641 |
- |
- |
- |
- |
1,917,641 |
|
|
|
|
|
|
|
|
Issues of shares during the year |
23,343 |
- |
135,361 |
- |
- |
- |
158,704 |
|
|
|
|
|
|
|
|
Share options and warrants |
- |
- |
- |
- |
- |
56,932 |
56,932 |
|
|
|
|
|
|
|
|
Non controlling Interest |
- |
- |
- |
(90,692) |
- |
- |
(90,692) |
|
|
|
|
|
|
|
|
Cancellation of shares during the year |
(5,632,725) |
5,632,725 |
- |
- |
- |
- |
- |
|
────── |
─────── |
─────── |
─────── |
────── |
────── |
─────── |
Balance at |
1,586,628 |
(2,795,147) |
6,279,718 |
- |
1,500,000 |
474,517 |
7,045,716 |
|
══════ |
═══════ |
═══════ |
══════ |
══════ |
══════ |
═══════ |
|
|
|
|
|
|
|
|
Share capital is the amount subscribed for shares at nominal value. Share premium represents amounts subscribed for share capital in excess of nominal value, net of expenses.
Merger relief reserve arises from the 100% acquisition of
Retained earnings represents the cumulative profits and losses of the group attributable to the owners of the company.
Share based payment reserve represents the cumulative amounts charged in respect of unsettled warrants and options issued.
Consolidated Statement of Cash Flows
|
|
Year ended |
Year ended |
|
|
||
|
|
£ |
£ |
Cash flows from operating activities |
|
|
|
|
|
|
|
Cash utilised by operations |
|
(1,895,285) |
(1,398,181) |
Interest received |
|
142 |
165 |
Taxation |
|
141,902 |
151,950 |
|
|
────── |
────── |
Net cash outflow from operating activities |
|
(1,753,241) |
(1,246,066) |
|
|
|
|
|
|
|
|
|
|
|
|
Cash flows from investing activities |
|
|
|
Purchases of property, plant and equipment |
|
(1,804) |
(10,551) |
Purchase of intangible assets |
|
(43,381) |
(162,213) |
Investment in subsidiaries |
|
- |
133,943 |
Disposal of subsidiary net of cash balances |
|
(228,212) |
- |
|
|
────── |
────── |
Net cash inflow from investing activities |
|
(273,397) |
(38,821) |
|
|
────── |
────── |
Cash flows from financing activities |
|
|
|
Share issues |
|
158,703 |
2,359,365 |
|
|
────── |
────── |
Net cash outflow from financing activities |
|
158,703 |
2,359,365 |
|
|
────── |
────── |
|
|
|
|
|
|
|
|
|
|
|
|
Increase/(decrease) in cash and equivalents |
|
(1,867,935) |
1,074,478 |
|
|
|
|
Cash and cash equivalents at beginning of year |
|
3,115,366 |
2,040,888 |
|
|
────── |
────── |
Cash and cash equivalents at end of year |
|
1,247,431 |
3,115,366 |
|
|
══════ |
══════ |
|
|
|
|
Earnings per Share
Basic earnings per share is calculated by dividing the earnings attributable shareholders by
the weighted average number of ordinary shares outstanding during the period.
Reconciliations are set out below:
Basic and diluted EPS |
Earnings |
2017 Weighted average Number of shares |
Profit per-share |
|
£ |
No. |
Pence |
|
|
|
|
Basic EPS |
1,907,641 |
78,586,791 |
2.43 |
Diluted EPS |
1,907,641 |
87,831,953 |
2.17 |
|
══════ |
════════ |
══════ |
|
|
|
|
|
Earnings |
2016 Weighted average Number of shares |
Loss per-share |
|
£ |
£ |
Pence |
Basic and diluted EPS |
|
|
|
Earnings attributable to ordinary shareholders |
(1,297,871) |
77,683,891 |
1.67 |
|
══════ |
════════ |
══════ |
|
|
|
|
As at 30 November 2017 there were 7,845,237 (2016: 10,345,237) outstanding share options and 1,399,925 (2016: 1,983,709) outstanding share warrants, both are potentially dilutive.
The Company's Report and Accounts for the year ended 30 November 2017 will be posted to shareholders shortly and may be downloaded from the Company's website at www.optibiotix.com
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
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