CYANCONNODE 2013 TO 2018
This company, from 2013 to 2018, has been unable to generate any funds from its operations.
In total its operating expenses were three times the sales revenues. The company only employs 54 people, yet their combined wages and salaries make up around half of its operating costs, over twenty million pounds over this period.
So where did the company get its cash from in order to carry on trading? It has all come from the issue of new shares.
What did it do with it? Just under four million was invested long term, the rest, thirty million, was absorbed in operating costs, with two million going to increase the cash balances.
The company’s reports are optimistic about the future and the auditors agree that it is a going concern.