Trendlines Group, the Israeli incubator of tech start-ups in the medical and agricultural fields, saw net and comprehensive loss for FY15 ended Dec widen 17.2% to US$3.3 million ($4.6 million) from US$2.8 million a year ago.
Trendlines says this was the result of the conversion of $13.7 million worth of pre-IPO redeemable convertible loan into shares at a discount at the conversion date, which led to a non-recurring, non-cash expense amounting to US$3.8 million.
In FY15, Trendlines established five new portfolio companies, and our portfolio companies raised more than US$10 million in follow on capital,”
Fair market value of the group’s investments in portfolio companies came in at US$84.5 million ($118.7 million) at end of Dec, 11.7% higher compared to US$77.5 million a year ago.
The group’s full-year income increased by 16.2% to US$9.9 million as at end Dec from a year ago, of which the gain from the change in the fair value of investments in portfolio companies increased by 164% to US$5 million.
Total recurring expenses decreased by 30.4% to US$7.9 million.
The group says it has maintained a strong financial position, with total equity of US$84.2 million as at end Dec, up from US$55.7 million a year ago.
In Nov, Trendlines had raised gross proceeds of $25 million in its initial public offering on the Catalist board of the Singapore Stock Exchange.
The counter closed 2.22% higher at 23 cents on Wednesday.
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Trendlines says this was the result of the conversion of $13.7 million worth of pre-IPO redeemable convertible loan into shares at a discount at the conversion date, which led to a non-recurring, non-cash expense amounting to US$3.8 million.
In FY15, Trendlines established five new portfolio companies, and our portfolio companies raised more than US$10 million in follow on capital,”
Fair market value of the group’s investments in portfolio companies came in at US$84.5 million ($118.7 million) at end of Dec, 11.7% higher compared to US$77.5 million a year ago.
The group’s full-year income increased by 16.2% to US$9.9 million as at end Dec from a year ago, of which the gain from the change in the fair value of investments in portfolio companies increased by 164% to US$5 million.
Total recurring expenses decreased by 30.4% to US$7.9 million.
The group says it has maintained a strong financial position, with total equity of US$84.2 million as at end Dec, up from US$55.7 million a year ago.
In Nov, Trendlines had raised gross proceeds of $25 million in its initial public offering on the Catalist board of the Singapore Stock Exchange.
The counter closed 2.22% higher at 23 cents on Wednesday.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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