Lead All Investments Ltd : Half Yearly Report

Lead All Investments Limited

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LEAD ALL INVESTMENTS LIMITED

("LEAL" or the "Company")

INTERIM FINANCIAL RESULTS

FOR THE SIX MONTHS ENDED 30 JUNE 2013

The board of directors and its investment advisers are currently evaluating a number of projects in South-East Asia, China and Japan which the board considers have potential for significant growth and shareholder value and which are in line with the company's investment policy.

These investment opportunities are centred on both multi-level marketing and direct selling, but to date no investment situations have been identified that we believe would represent a sufficient return for shareholders. 

Successful multi-level marketing operations involve strict adherence to national regulations which vary considerably from country to country in the targeted region and establishing compliance with these is invariably a lengthy and time-consuming process. Our evaluation of any products also needs to match our strict suitability criteria but we nevertheless remain confident in making suitable and attractive investments in the coming months.

We remain mindful of our duty to shareholders and, in this regard, we continue our prudent policy of conserving cash resources and maintaining our business as efficiently as possible.  Cash and fixed term deposits at 30 June 2013 stood at £2,340,306 (31 December 2012: £2,411,040)

The financial information contained within this interim report constitutes the Company's unaudited results for the six months ended 30 June 2013.

The Statement of Comprehensive Income shows a net loss for the period ended 30 June 2013 of £91,311. The loss is in line with the Company's expectations.

Ahmad Nasri Bin Abdul Rahim

Chairman

Malaysia, 24 September 2013

For further information, kindly visit.http://www.leadallinv.comor contact:

Lead All Investments Limited	Ahmad Nasri Bin Abdul Rahim Director	006019575 7732
ZAI Corporate Finance Ltd        (Nomad)	Ray Zimmerman	[phone]

STATEMENT OF COMPREHENSIVE INCOME

FOR THE SIX MONTHS ENDED 30 JUNE 2013

			Six months ended 30 June 2013	Six months ended 30 June 2012*	Period ended 31 December 2012
			(Unaudited)	(Unaudited)	(Audited)
	Notes		£	£	£
Revenue			-	-	-
Administrative expenses			(91,311)	(80,728)	(192,597)
			________	________	________
Operating loss			(91,311)	(80,728)	(192,597)
			________	________	________
Bank interest receivable			-	602	15,165
Loss before taxation			(91,311)	(801,26)	(177,432)
Taxation			-	-	-
			________	________	________
Loss for the period			(91,311)	(80,126)	(177,432)
Other comprehensive income			-	-	-
			________	________	________
TOTAL COMPREHENSIVE LOSS FOR THE PERIOD			(91,311)	(80,126)	(177,432)
			========	========	========
Total comprehensive loss attributable to:
Equity owners of the Parent Company			(91,311)	(80,126)	(177,432)
			========	========	========
Loss per share (pence per share) - basic and diluted	4		(0.30)	(0.66)	(0.97)
			========	========	========

*See Note 2.1: Comparative Figures for the Corresponding Period

STATEMENT OF FINANCIAL POSITION

	Notes		As at 30 June 2013	As at 30 June 2012	As at 31 December 2012
			(Unaudited)	(Unaudited)	(Audited)
			£	£	£
ASSETS
Current assets
Trade and other receivables			26,259	204,560	15,703
Fixed term deposits			2,330,000	2,250,602	2,330,000
Cash and cash equivalents			10,306	59,917	81,040
			________	________	________
Total Assets			2,366,565	2,515,079	2,426,743
			________	________	________
LIABILITIES
Current liabilities
Trade and other payables			(77,177)	(31,422)	(46,044)
			________	________	________
Total Liabilities			(77,177)	(31,422)	(46,044)
			________	________	________
Net Assets			2,289,388	2,483,657	2,380,699
			=======	=======	=======
EQUITY
Capital and reserves
Share capital	3		300,000	300,000	300,000
Share premium	3		2,152,771	2,158,423	2,152,771
Share-based payment reserve	3		105,360	105,360	105,360
Retained losses			(268,743)	(80126)	(177,432)
			________	________	________
Shareholders' Funds			2,289,388	2,483,657	2,380,699
			=======	=======	=======

STATEMENT OF CHANGES IN EQUITY

FOR THE SIX MONTHS ENDED 30 JUNE 2013

	Share Capital	Share Premium	Share-based Payment Reserve	Retained Losses	Total Equity
	£	£	£	£	£
At 1 January 2013	300,000	2,152,771	105,360	(177,432)	2,380,699
Total comprehensive loss for the period	-	-	-	(91,311)	(91,311)
	________	________	________	________	________
At 30 June 2013	300,000	2,152,771	105,360	(268,743)	2,289,388
	========	========	========	========	========
As at1 January 2012	-	-	-	-	-
Total comprehensive loss for the period	-	-	-	(80,126)	(80,126)
Transactions with owners:
Issue of shares	300,000	2,700,000	-	-	3,000,000
Share issue costs	-	(436,263)	-	-	(436,217)
Share-based payment (note 3)	-	(105,360)	105,360	-	-
	________	________	________	________	________
At 30 June 2012	300,000	2,158,377	105,360	(80,126)	2,483,657
	========	========	========	========	========

At 13 July 2011(date of incorporation)	-	-	-	-	-
Total comprehensive loss for the period	-	-	-	(177,432)	(177,432)
Transactions with owners:
Issue of shares	300,000	2,700,000	-	-	3,000,000
Share issue costs	-	(441,869)	-	-	(441,869)
Share-based payment (note 3)	-	(105,360)	105,360	-	-
	________	________	________	________	________
As at 31 December 2012	300,000	2,152,771	105,360	(177,432)	2,380,699
	========	========	========	========	========

STATEMENT OF CASHFLOWS

FOR THE SIX MONTHS ENDED 30 JUNE 2013

			Six months ended 30 June 2013	Six months ended 30 June 2012	Period ended 31 December 2012
			(Unaudited)	(Unaudited)	(Audited)
			£	£	£
Operating activities
Operating loss before changes in working capital			(91,311)	(80,728)	(192,597)
Increase in receivables			(10,556)	(204,560)	(15,703)
(Decrease) /Increase in trade and other payables			31,133	31,422	46,044
			__________	__________	__________
Net cash used in operating activities			(70,734)	(253,866)	(162,256)
Cash flows from investing activities
Interest received			-	602	15,165
Placement of fixed term deposit			-		(2,330,000)
			__________	__________	__________
Net cash used in investing activities			-	602	(2,314,835)
			__________	__________	__________
Financing activities
Proceeds from issue of shares (net of IPO costs)			-	2,563,737	2,558,131
			__________	__________	__________
Net cash generated from financing activities			-	2,563,737	2,558,131
			__________	__________	__________
Increase in cash and cash equivalents			(70,734)	2,310,519	81,040
Cash and cash equivalents at beginning of period			81,040	-	-
			__________	__________	__________
Cash and cash equivalents at end of period			10,306	2,310,519	81,040
			=========	=========	=========

NOTES TO THE UNAUDITED INTERIM FINANCIAL RESULTS

FOR THE SIX MONTHS ENDED 30 JUNE 2013

1.    Company information

Lead All Investments Limited ('the Company') was incorporated in Cayman Islands on 13 July 2011 (registered number WK-259337). The condensed interim accounts, which are unaudited, comprise the accounts of the Company for the six month period ended 30 June 2013.

In the opinion of the Directors, the condensed interim accounts for the period present fairly the financial position, and results from operations and cash flows for the period. 

All amounts have been prepared in British Pounds, this being the Company's functional and presentational currency.

These unaudited interim financial results were approved by the Board of Directors on 24 September 2013 and are available on the Company's website, http://www.leadallinv.com. Copies are available from the Company's registered office, Walker House, 87 Mary Street, Georgetown, Grand Cayman KY1-9005, Cayman Islands.

2.    Summary of significant accounting policies

2.1.  Basis of preparation

The condensed interim accounts have been prepared using accounting policies based on International Financial Reporting Standards (IFRS and IFRIC interpretations) issued by the International Accounting Standards Board ("IASB") as adopted for use in the European Union, including IAS 34 'Interim Financial Reporting' and on the historical cost basis.  The condensed interim accounts have been prepared using the accounting policies which are expected to be applied in the Company's next statutory financial statements for the year ending 31 December 2013.

Comparative Figures for the Corresponding Period

Prior to the admission on AIM on 8 February 2012, all expenses incurred relate to listing expenses which were capitalised and subsequently shown as a deduction from the Share Premium Account. The six months corresponding period from 1 January to 30 June 2012 therefore remains the same as the period from incorporation to 30 June 2012 as previously reported.

2.2.  Going concern

The financial statements of the Company are prepared on a going concern basis. The Company raises finance for its investment activities focusing on the use of multiple distribution strategies for the distribution of goods and services, especially in the Asia Pacific region.

The Directors are of the opinion that the Company will have sufficient cash to fund its activities based on forecast cash flow information for a period in excess of twelve months from the date of these interim financial results. Management continues to monitor all working capital commitments and balances on a weekly basis and believes that it has access to appropriate levels of financing for the Company to continue to meet its liabilities as they fall due for at least the next twelve months and that the Company is trading as a going concern.

2.3.  Segmental reporting

For the purposes of IFRS 8 'Operating Segments' the Company currently has one segment, being 'Investing in the Multi-Level Marketing (MLM) sector'. No further operating segment financial information is therefore disclosed.

2.4.  Foreign currency translation

Foreign currency transactions are translated into sterling using the exchange rates prevailing at the dates of the transactions. Exchange differences arising from the translation at the year end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the statement of comprehensive income.

2.5.  Cash and cash equivalents

Cash and cash equivalents consist of cash at bank and in hand.

2.6.  Taxation

Deferred tax is provided in full using the liability method, on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements. Deferred tax is not accounted for if it arises from initial recognition of an asset or liability in a transaction other than a business combination that, at the time of the transaction, affects neither accounting nor taxable profit or loss. Deferred tax is determined using tax rates that are expected to apply when the related deferred tax asset is realised or when the deferred tax liability is settled. Deferred tax assets are recognised to the extent that it is probable that future taxable profits will be available against which the temporary differences can be utilised.

2.7.  Equity instruments

Ordinary shares are classified as equity. Costs directly attributable to the issue of new shares are shown in equity as a deduction from the proceeds.

2.8.  Share based payments

For equity settled share-based payment transactions other than transactions with employees the Company measures the goods or services received at their fair value, unless that fair value cannot be estimated reliably. If this is the case the Company measures their fair values and the corresponding increase in equity, indirectly, by reference to the fair value of equity instruments granted.

The Company enters into arrangements that are equity-settled share-based payments. These are measured at fair value at the date of grant, which is then recognized in the statement of comprehensive income on a straight-line basis over the vesting period, based on the Company's estimate of shares that will eventually vest. Fair value is measured by use of an appropriate model. In valuing equity-settled transactions, no account is taken of any vesting conditions, other than conditions linked to the price of the shares of Lead All Investments Limited. The charge is adjusted at each balance sheet date to reflect the actual number of forfeitures, cancellations and leavers during the period. The movement in cumulative charges since the previous balance sheet is recognized in the statement of comprehensive income, with a corresponding entry in equity.

3.    Share capital and options

On incorporation the Company had an authorised share capital of US$ 50,000 comprising 50,000 shares of a nominal value of US$1 each. On incorporation one share was issued fully paid at par value of US$1. On 11 August 2011 a further share of a nominal value of US$1 was issued at par, fully paid.

On 30 January 2012 the Company amended its authorised share capital from US$50,000 to £3,000,000 and US$2 divided into 300,000,000 shares of a par value of £0.01 each and two shares of a par value of US$1.00 each. On 30 January 2012 the Company repurchased 2 shares of a par value of US$1.00 each at par from the shareholders and simultaneously issued them two shares of a par value of £0.01 each at par, fully paid.

On 30 January 2012 the Company reduced its share capital to £3,000,000 divided into 300,000,000 shares of a par value of £0.01 each.

On admission of the Ordinary Shares to trading on AIM on 8 February 2012, 30,000,000 Ordinary Shares were placed at a price of £0.10 per share.

		Share Capital	Share Premium
		£	£
Authorised share capital
300,000,000 ordinary shares of £0.01 per share		3,000,000	-
		________	________
At 30 June 2013		3,000,000	-
		========	========
Issued and fully paid:
30,000,000 ordinary shares of £0.10 per share		300,000	2,700,000
less: share issue costs		-	(441,869)
less: share based payment charge		-	(105,360)
		________	________
		300,000	2,152,771
		========	========

On 30 January 2012 the Company entered into a deed of warrant with two parties, conditional upon Admission, to subscribe for 5% (1,500,000 shares) and 3% (900,000 shares) respectively, of the aggregate value at the Exercise Price of all new shares subscribed by investors on the Placing of shares. The shares are exercisable at any time up to five years from the date of Admission at the Placing price of £0.10. These shares were granted for services rendered relating to the Placing of shares on AIM.

Using the Black Scholes method, the fair value of these options was calculated to be £105,360 and the charge was shown as a deduction from the proceeds of the share issue.

In addition, pursuant to share option agreement dated 30 January 2012, conditional upon Admission, the Company has granted the Company's founder Mr. Zheng Zhuoxuan, an option to subscribe for 5,000,000 Ordinary Shares in the Company, at an exercise price of £0.02 per Ordinary Share. The option shall be exercisable by Mr. Zheng Zhuoxuan if either:

(i)  the average daily closing share price of the Company over any four month period is equal to or in excess of £0.20 per Ordinary Share; or

(ii) the net asset value of each Ordinary Share (as determined by the auditors of the Company) on (a) the Business Day immediately before the Company's financial year end and (b) the Business Day which issix calendar months after that date is equal to or in excess of £0.20 per Ordinary Share.

In addition, pursuant to share option agreement dated 30 January 2012, conditional upon Admission, the Company has granted Mr. Ahmad Nasri an option to subscribe for 10,000,000 Ordinary Shares in the Company, at an exercise price of £0.02 per Ordinary Share. The option shall be exercisable by Mr. Ahmad Nasri if either:

(i)  the average daily closing share price of the Company over any four month period is equal to or in excess of £0.30 per Ordinary Share; or

(ii) the net asset value of each Ordinary Share (as determined by the auditors of the Company) on (a) the Business Day immediately before the Company's financial year end and (b) the Business Day which is six calendar months after that date is equal to or in excess of £0.30 per Ordinary Share.

The share options granted to Mr. Zheng Zhuoxuan and Mr. Ahmad Nasri are in acknowledgement of the start-up monies provided to the Company.

At 30 June 2013, none of the 17,400,000 share optionshave been exercised.

4.  Loss per share

Basic loss per share is calculated by dividing the losses attributable to the Company's shareholders by the weighted average number of ordinary shares in issue during the period ended 30 June 2013.

			£
Loss for the period			(91,311)
Weighted average number of shares for the period			30,000,000
Loss per share			(0.30)
			========

Potential Ordinary Shares of 17,400,000 (being the outstanding share options) have been excluded from the

computation of diluted loss per share as the shares are anti-dilutive.

This information is provided by RNS

The company news service from the London Stock Exchange

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