Business
Interim results for six months ended 30 June 2013
Interim results for six months ended 30 June 2013.
About this update from Emv Capital Plc
[{"type":"text","content":"\n \nRNS Number : 0585P NetScientific PLC 27 September 2013 \n \n\nNetScientific plc\n('NetScientific' or the 'Group')\nInterim results for the six months ended 30 June 2013\n27 September 2013\n \nNetScientific (AIM:NSCI), the healthcare medical technology company, is pleased to announce its maiden unaudited interim results for the six months ended 30 June 2013.\n \nFinancial Highlights\n \n· Pre-tax loss for the period of £1,040k (H1 2012: £840k)\n \n· Net cash of £117k (H1 2012: £122k)\no Net cash position strengthened by £28.1 million post-half year following Placing and Admission to AIM\n \n· On 25th February 2013, the group acquired a controlling interest in QLIDA Diagnostics Inc. which is focused on developing smart phone enabled hand held diagnostic systems.\n \nOperational Highlights\n \n· Successful Admission to AIM in September 2013\no IPO raised £30 million (£28.1 million net of cash expenses) for the Group from institutional investors in the UK, cornerstoned by Invesco\no Net proceeds of the Placing will be used to fund working capital to accelerate to the market its two leading Portfolio companies, WANDA Inc. and Vortex BioSciences Inc., whilst developing its other core spin-out companies and pipeline projects\n \n· Trading remains in line with market expectations and the Board looks ahead with confidence and expects to achieve significant progress with several portfolio companies in the second half of the year\n \nFarad Azima, Chief Executive Officer, commented:\n \n\"We are at a very exciting stage of the Group's development. We have a strong portfolio of innovative technologies and the placing of shares and Admission to AIM provides us with an outstanding opportunity for growth.\"\n \nFor further information, please contact\n \nNetScientific plc Tel: +44 (0) 20 3590 8877\...