Helium Ventures achieves narrowed half-year loss

(Alliance News) - Helium Ventures PLC on Friday reported a narrowed interim loss as administrative costs fell.

Helium Ventures is a London-based investment company initially focused on opportunities within the helium sector.

For the six months ended October 31, Helium Ventures reported a pretax loss of GBP179,296, narrowed from GBP270,349 the year before. Administrative expenses dropped to GBP182,518 from GBP270,317.

At October 31, Helium Ventures' cash amounts to GBP157,030.

Trading in the firm's shares on the AQSE Growth Market were suspended in October last year, after Helium Ventures announced the conditional acquisition of Vestigo Technologies Ltd, which owns and distributes tracking software product, Trackimo, and its associated hard business and intellectual property. The Acquisition to be satisfied through issues of Helium shares valued at GBP1.7 million.

Shares were last traded at 5.74 pence each on October 3.

By Xindi Wei, Alliance News reporter

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