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LONDON - Mollyroe Plc reported a net loss of £135,057 for the year ended December 31, 2024, nearly doubling the £68,783 loss recorded in 2023, according to a financial statement released by the company.
The London-listed firm, which has been seeking investment opportunities since adopting a new corporate strategy in 2022, saw administrative expenses rise to £139,369 from £72,882 in the previous year. Cash reserves decreased to £299,215 from £335,550 at the end of 2023.
Despite conducting due diligence on several potential investments in sectors including medtech, student housing, and elderly care facilities, Mollyroe did not finalize any agreements during the period. The company cited "adverse market conditions with limited capital raising options" as the primary obstacle.
"We believe that we are seeing the first early signs of market conditions generally being more positive," said Chairman N. Lyons in the statement accompanying the financial results.
The company issued new shares during the period, raising £11,250 in fresh capital. Shareholders’ funds stood at £176,373 at year-end, down from £300,180 in 2023.
Mollyroe’s board has continued to limit overhead costs, with directors accruing but not yet receiving their fees, according to the press release statement.
The company has scheduled its Annual General Meeting for July 25, 2025, where shareholders will vote on resolutions including the re-election of Paul Ryan as director and authorization for directors to allot ordinary shares in a nominal amount of £45,000.
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