Business
Annual Report for the year ended 31 December 2024
Annual Report for the year ended 31 December 2024.
About this update from Ubuntu Mining And Metals, Inc.
[{"type":"text","content":"\n\nTechFinancials Inc.\n \n(\"TechFinancials\" or the \"Company\")\n \nAnnual Report for the year ended 31 December 2024\n \n \n \nFinancial Highlights\n \n· No revenues in 2024 as expected as the Company has moved to being an investment entity.\n· Pre-tax loss attributable to shareholders of US$0.206 million (2023: loss of US$0.166 million)\n· Cash position of US$0.17 million as at 31 December 2024 (2023: US$0.37 million)\n· Basic earnings per share ('EPS') (US$0.0024) (2023: (US$0.0019))\n \nInvestment Activities\n \n· The Company used its cash to invest small amounts in several listed entities in 2023. This activity resulted in an unrealised profit of US$16 thousand in the year 2024.\n \nChairman's Statement\n \n2024 was a year in which the Company focused on looking for new ways to increase its value for shareholders.\n \nThe Company continued to hold investments in listed companies. The Company continues to look for new ways to increase its value.\n \nDividends\n \nThe Board will not be recommending a final dividend to the shareholders of the Company for the year ended 2024 (2023: $nil).\n \nOutlook and current trading\n \nThis year we focused on seeking new investment opportunities to increase the value of the Company.\n \n \nThe Company will continue to look for investment opportunities to maximize the Company's value, leveraging its available cash.\n \nI would like to thank our shareholders for their continued support\n \nWe look forward to updating the market on our progress in due course.\n \n \n \n \nEitan Yanuv\nIndependent Non-Executive Chairman\n \n26 June 2025\n \nExtract from the Auditor's Report:\n\"Conclusions relating to going concern\nIn auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Our evaluation of the directors' assessment of the company's ability to continue to adopt the going concern basis of accounting included ascertaining the company's latest cash position and obtaining, reviewing and challenging cashflow forecasts provided by the directors covering the 12 months from the approval date ...