Coinsilium, an investor that finances and manages the development of early-stage blockchain technology companies, has announced its interim results for the six months ended 30 June 2017.
The company has reported total comprehensive income, which includes fair value gain on available for sale financial assets, of GBP290,210 (H1 2016: loss of GBP258,533). The loss for the period from continuing operations reduced by 24 per cent to GBP205,378, (H1 2016: loss of GBP269,756), while the loss per share of GBP0.02 compares with a loss of GBP0.04 for H1 2016).
Available for sale financial assets amounted to GBP1.6 million at 30 June 2017 (31 December 2016: GBP1.1million).
The company completed successful fundraising totalling GBP555,985 in three tranches between March and June 2017, and as at 30 June 2017, cash and cash equivalents amounted to GBP343,908 (31 December 2016: GBP99,641).
Eddy Travia, CEO of Coinsilium, says: “The first six months of 2017 have seen the most significant developments for Coinsilium where we made our first investments in the emerging Digital Token Space through Coindash and Indorse. The subsequent launch of Terrastream, to develop a token-based alternative funding solution operating in Gibraltar saw us become a venture builder as well as an investor and accelerator in early stage blockchain companies. We believe that we are at the forefront of this exciting market and remain well placed to capitalise on the opportunities it offers and to deliver shareholder value.”
