27 June 2025
Wolfram Resources Plc (formerly Miotal Plc)
("Wolfram" or the "Company")
Interim Results for the Six Months Ended 31 March 2025
I am pleased to present the interim results for Wolfram Resources Plc ("Wolfram" or the "Company") for the period ended 31 March 2025. The Company was admitted to the Standard Listing of the Main Market of the London Stock exchange on 5 June 2023 (XLON: WFR).
Chairman's Statement
During the period the Company made a loss of £226,161, compared with a loss of £142,812 for the same period last year. The loss is largely due to everyday administration, travel, salaries and professional fees, whilst the Board has been diligently attempting identify a suitable business with which to enter into a potential transaction. The Board has been working attentively to reduce the administrative costs of the Company, reducing salaries and outsourced administrative assistance. As at 31 March 2025, the Company's cash position was £84,983 (2024: £506,165).
These interim results have not been audited by the Company's auditor.
Post period events
Since the end of the reported period, the Company has continued to actively pursue alternative acquisition opportunities since the termination of the Heads of Terms with SMT Holdings Limited. The Company has also changed its name and TIDM ticker on 2 April 2025.
Directors of the company
The directors who have served during the period and up to the date of approval were as follows:
Graeme Muir
(Chairman)
Daniel Monks
(Executive Director)
Results and dividends
The interim statement of comprehensive income is set out below and shows the loss for six month period to 31 March 2025. The directors consider the loss for the period to be in line with expectations. The directors do not recommend a payment of a dividend.
This report was approved by the Board and signed on its behalf:
Graeme Muir
Chairman
The Directors of the Company accept responsibility for the content of this announcement.
Enquiries:
Company
Wolfram Resources Plc
Graeme Muir
gm@wolframresources.com
www.wolframresources.com
Peterhouse Capital Limited
Financial Advisor
Guy Miller & Brefo Gyasi
Telephone: 020 7469 0930
Corporate Broker
Lucy Williams / Duncan Vasey
Statement of Comprehensive Income for the 6 months ended 31 March 2025
6 months to
31 March 2025
Unaudited
Year ended
30 September 2024
Audited
6 months to
31 March 2024
Unaudited
£
£
£
Administrative expenses
(226,161)
(339,187)
(142,812)
Warrant expense
-
-
-
Operating Profit / (Loss)
(226,161)
(339,187)
(142,812)
Taxation
-
-
-
Loss for the period from continuing operations
(226,161)
(339,187)
(142,812)
Other comprehensive income
-
-
-
Total comprehensive income for the period
(226,161)
(339,187)
(142,812)
Earnings per share
Basic earnings per share
(0.277p)
(0.4p)
(0.174p)
Diluted earnings per share
(0.039p)
(0.1p)
(0.025p)
Statement of Financial Position for the 6 months ended 31 March 2025
6 months to
31 March 2025
Unaudited
Year ended
30 September 2024
Audited
6 months to
31 March 2024
Unaudited
£
£
£
Assets
Current assets
Trade and other receivables
13,143
35,743
26,962
Cash and cash equivalents
84,983
327,961
506,165
98,126
363,704
533,127
Total assets
98,126
363,704
533,127
Current liabilities
Trade and other payables
15,379
54,796
27,844
15,379
54,796
27,844
Net assets
82,747
308,908
505,283
Capital and reserves
Share capital
820,001
820,001
820,001
Warrant reserves
2,093,571
2,093,571
2,093,571
Retained earnings
-2,830,825
(2,604,664)
(2,408,289)
Total equity
82,747
308,908
505,283
Statement of Changes in Equity for the 6 months ended 31 March 2025
Share
Warrant
Retained
Total
capital
reserves
Earnings
£
£
£
£
As at 1 October 2023
820,001
2,093,571
(2,265,477)
648,095
Profit / (Loss) for the period
-
-
(142,812)
(142,812)
Total comprehensive income
-
-
(142,812)
(142,812)
Balance at 31 March 2024
820,001
2,093,571
(2,408,289)
505,283
Net equity issued
-
-
-
820,000
Share warrant expense
-
-
-
2,093,571
Loss for the year
-
-
(339,187)
(339,187)
Total comprehensive income
-
-
(339,187)
(339,187)
Balance at 30 September 2024
820,001
2,093,571
(2,604,664)
308,908
Loss for the period
-
-
(226,161)
(226,161)
Total comprehensive income
-
-
(226,161)
(226,161)
Balance at 31 March 2025
820,001
2,093,571
(2,830,825)
82,747
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