ChallengerX Plc Interim report for the period ended 31 December 2021
25 Marzo 2022 - 4:35AM
UK Regulatory
TIDMCXS
The information contained within this announcement is deemed by the Company to
constitute inside information stipulated under the Market Abuse Regulation (EU)
No. 596/2014, as retained as part of the law of England and Wales. Upon the
publication of this announcement via the Regulatory Information Service, this
inside information is now considered to be in the public domain.
25 March 2022
ChallengerX PLC
("ChallengerX" or the "Company")
Interim report for the period ended 31 December 2021
ChallengerX PLC (AQSE: CXS), a Software-as-a-Service "SaaS 2.0"
influence-monetization tech and digital marketing company serving amateur and
semi-pro sports leagues, teams, and players around the world, announces its
unaudited financial results for the period ending 31 December 2021.
Highlights:
* Raised a total of ?1,000,000 (approx. £832,000) in two pre-IPO rounds into
its wholly owned subsidiary SportsX SAS, and £752,000 (before expenses) in
its 23 December Aquis IPO. Total invested capital after expenses was £
1,467,000.
* Further developed the Company's digital assets.
* Cash and cash equivalents at year end were £1,385,000.
Post-period highlights:
* Began negotiations with several new football (soccer) clubs and leagues,
and a rugby league regarding the deployment of the Company's monetization
tools.
* Further developed the sales and marketing plan and organization.
* As previously announced, approximately ?660,000 (£549,000) in cash in our
wholly owned French subsidiary SportsX SAS was mistakenly frozen by the
French government as part of an ongoing investigation into a former
executive, and we continue to work diligently to recover these funds.
Outlook:
* Technology: The Company's core monetization technology is maturing, and the
Company has begun generating revenues.
* New Customers: The Company is in late-stage discussions with multiple
football (soccer) and rugby leagues, teams, and sports news websites, and
the Board is optimistic regarding the possibility of multiple new customer
and strategic partnership wins during the next few months.
Market Size:
The Board believes that the market for the Company's "influence monetization
tech" is extremely large in the context of the global amateur and semi-pro
sports ecosystem, which includes players, teams, sports news sites, and other
influencers such as commentators and bloggers. Globally the number of active
football (soccer) clubs is well over 1,000,000, and each of these clubs likely
has 20 to 25 players, many of whom have their own fans and following. Nearly
100% of these clubs and players are eager to increase their income without
incurring any upfront costs, and with a total market of only 1,000,000 clubs
that could on average generate just £100 in monthly revenues for the Company,
it would set the total available market at £1.2 billion per annum.
Commenting on the results, John May, Non-Executive Chairman of ChallengerX,
said: "The Company's successful flotation on the AQSE Growth Market was a
significant milestone and provided the Company with the investor base and
capital it needs to continue the development of its influence monetization
technologies and new customer acquisition initiatives."
The directors of ChallengerX plc accept responsibility for this announcement.
I would also like to take this opportunity to thank all our shareholders for
their support.
John May, Non-Executive Chairman
For further information please contact:
ChallengerX
John May Phone: +44 7860 715075
Non-Executive Chairman Email: john@challengerx.io
Brian Connell, CFA Phone: +44 207 459 4148
Finance Director and CEO Email: brian@challengerx.io
First Sentinel, Corporate Adviser
Brian Stockbridge +44 7876 888 011
Gabrielle Cordeiro
About ChallengerX PLC:
Listed on the Aquis Stock Exchange in London, ChallengerX plc, is a
Software-as-a-Service "SaaS 2.0" monetization technology and digital marketing
company serving sports clubs, players, sports news sites, and other influencers
around the world. Its technology helps its customers, at no additional cost,
generate incremental recurring revenues from their existing followers and from
the photos and videos they already post online.
ChallengerX also offers bespoke service packages that help clubs develop and
build their brand, rapidly grow their base of fans, gain additional higher-end
sponsors, and source and sell club merchandise through a club-branded eStore
the Company operates on each club's behalf.
Unaudited consolidated statement of comprehensive income
for the period ended 31 December 2021
Period
ended
31
December
2021
Note £000
Continuing operations
Revenue -
-
Administrative expenses (206)
Loss before taxation (206)
Taxation -
Total comprehensive loss for the (206)
period
Loss per share (pence) 3
Basic and diluted (0.08)
Unaudited consolidated statement of changes in equity
for the period ended 31 December 2021
Share Share Retained
capital premium earnings Total
£000 £000 £000 £000
Total owners' equity at 7 June - - - -
2021
Transactions with owners:
- Share capital issued by 288 1,179 - 1,467
Company
- Share issue costs - - - -
Total transactions with 288 1,179 - 1,467
owners
- Comprehensive loss:
- Loss for the period - - (206) (206)
Total comprehensive loss - - (206) (206)
for the period
Total owners' equity at 31 288 1,179 (206) 1,261
December 2021
Consolidated Statement of financial position
as of 31 December 2021
31 Dec 2021
Note £000
Assets
Non-current assets
Intangible assets - 18
goodwill
Current assets
Trade and other 16
receivables
Cash and cash equivalents 1,385
1,401
Liabilities
Current liabilities
Trade and other payables 158
158
Net current assets 1,243
Net assets 1,261
Owners' equity
Ordinary Share Capital 2 288
Share premium 1,179
Retained earnings (206)
Total owners' equity 1,261
Unaudited Consolidated statement of Cash Flows
for the period ended 31 Dec 2021
Period
ended
31 Dec
2021
£000
Loss before taxation (206)
Changes in working capital
(Increase) / Decrease in trade and (16)
other receivables
Increase/(decrease) in payables 158
Net cash flow from operating 142
activities
Cash flows from investing activities
Goodwill on acquisition 18
Net cash from investing activities -
Cash flows from financing activities
Proceeds from issue of Ordinary 1,467
Shares
Net cash from/(used in) financing 1,467
activities
Net increase/(decrease) in cash and 1,385
cash equivalents
Cash and cash equivalents at -
beginning of period
Cash and cash equivalents at end of 1,385
period
Notes to the interim accounts
for the period ended 31 December 2021
1. General information and accounting policies
* ChallengerX PLC is a company incorporated in the United Kingdom
* Its 100% wholly-owned subsidiary SportsX SAS is incorporated in France
* The company was incorporated on 7 June 2021 and therefore there is no
comparative statement of financial position
* The condensed consolidated interim financial statements do not constitute
statutory accounts as defined in Section 434 of the Companies Act 2006
* The financial information for the period ended 31 December 2021 is prepared
in accordance with IFRS
* The condensed consolidated interim financial statements do not include all
of the information required for full annual financial statements
* The condensed interim financial statements were authorised for issue on 23
March 2022
2. Issued capital
Issued capital follows:
31 December
2021
Issued and fully paid £000
287,585,000 Ordinary shares of 0.01 288
pence each
3. Loss per Ordinary Share
The loss per share has been calculated based on the following results and
weighted average number of shares:
31 December
2021
£000
Loss attributable to Ordinary (£206)
Shareholders
Weighted average shares in issue
Weighted average number of shares 252,405,440
for the purposes of basic earnings
per share
Basic and diluted loss per share (0.08p)
(pence)
DISTRIBUTION OF INTERIM REPORT
Copies of the Interim Report for the period ended 31 December 2021 are
available on the Company's website www.challengerx.io.
END
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March 25, 2022 06:35 ET (10:35 GMT)
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