The current interim report of Telescan AS presents the results of company operations from incorporation on 30 May 2013 to 30 June 2013.
The financial statements of the company are prepared in accordance with International Financial Reporting Standards issued by the International Accounting Standards Board and the interpretations of the International Financial Reporting Interpretations Committee as adopted by the European Union and the Estonian Accounting Act.
During the one-month period covered in the interim report there have been no significant material events in the company’s operations. Telescan continues its preparatory actions in building up a solid base for future activities based on selling its scanning services through health-care franchises globally.
| Statement of financial position | |
| in euro | 30.06.2013 |
| Assets | |
| Cash and cash equivalents | 25 000 |
| Current assets | 25 000 |
| Total assets | 25 000 |
| Equity | |
| Share capital | 25 000 |
| Retained earnings | -179 |
| Equity attributable to owners of the company | 24 821 |
| Liabilities | |
| Trade and other payables | 179 |
| Current liabilities | 179 |
| Total liabilities | 179 |
| Total equity and liabilities | 25 000 |
| Statement of comprehensive income | |
| in euro | 30.05. - 30.06.2013 |
| Continuing operations | |
| Administrative expenses | -179 |
| Results from operating activities | -179 |
| Profit from the period | -179 |
| Statement of cash flows | |
| in euro | 30.05.-30.06.2013 |
| Cash flows from operating activities | |
| Profit from the period | -179 |
| Changes in trade and other payables | 179 |
| Cash generated from operating activities | 0 |
| Cash flows from financing activities | |
| Proceeds from issue of share capital | 25 000 |
| Net cash from financing activities | 25 000 |
| Net increase in cash and cash equivalents | 25 000 |
| Cash and cash equivalents at 30.05.2013 | 0 |
| Cash and cash equivalents at 30.06.2013 | 25 000 |
| Statement of changes in equity | |||
| in euro | Share capital | Retained earnings | Total equity |
| Share capital | 25 000 | - | 25 000 |
| Profit for the period | - | -179 | -179 |
| Balance at 30.06.2013 | 25 000 | -179 | 24 821 |
During its first month of operation Telescan generated no revenue. Costs of EUR 179 are fees in connection with the establishment of the company.
As of the date of this announcement, the company has successfully completed the first round of additional financing by injecting EUR 30 000 fresh capital into the company. Further capital injections are in the pipeline by means of issuing shares and convertible bonds which will serve to further strengthen Telescan’s capital base and enhance its operational capacity.
This disclosure has been reviewed by Telescan AS’s Certified Adviser AS Cresco Väärtpaberid.
Olev Schults
AS Cresco Väärtpaberid
+372 6405 867
olev@cresco.ee
