Resultados finales y aviso de AGM
19 de marzo de 2024
TMT INVERSIONES PLC
("TMT" o la "Compañía")
Resultados del ejercicio finalizado el 31 de diciembre de 2023 y Aviso de Asamblea General Anual
TMT Investments Plc (AIM: TMT), the venture capital company investing in high-growth technology companies, is pleased to announce its audited final results for the year ended 31 December 2023.
Destacados:
· Valor liquidativo por acción de 6.62 USD (un 3.3 % más que los 6.41 USD al 31 de diciembre de 2022)
· Valor liquidativo total de US$208.1 millones (USD 201.7 millones al 31 de diciembre de 2022)
· TIR a 5 años del 16.3% anual
· US$4.7 millones de inversiones en 10 empresas nuevas y existentes en 2023
· Praktika.AI became the 100th investment by TMT since inception
· US$4.2 million of profitable disposals during the period
· US$11.0 million in cash and cash equivalent reserves as of 18 March 2024
Alexander Selegenev, Director Ejecutivo de TMT, comentó:
"In line with the technology companies' market, in 2023 TMT's portfolio has continued to see an increased divergence between the stronger and weaker performers - with the net result for TMT being positive, with the Company's NAV per share increasing by 3.3% in 2023. TMT's portfolio benefited from the positive revaluation of 12 of its companies (Backblaze, 3S Money, 1Fit, Collectly, SonicJobs, Mobilo, Synder, Educate Online, Laundryheap, Whizz, AgendaPro, and Scentbird).
During the same period TMT partially or fully wrote down the value of twelve of its investments, which have either struggled to adjust to the new "down-to-earth" reality or failed, with some smaller investees, who in the past were able to rely on the availability of cheap capital for continued funding requirements succumbing to market pressure.
TMT's five largest holdings (Bolt, Backblaze, 3S Money, PandaDoc and Scentbird) continued to perform well, with each recording double-digit annual revenue growth rates. These are mostly well capitalised companies, with generally high levels of cash reserves, a strong market presence and are typically either already operationally profitable or close to achieving profitability. These well-established companies accounted for 64% of TMT's portfolio's value as of 31 December 2023.
Continuing the trends started in 2022, 2023 saw a dramatic change in the venture capital and technology company environment, with most investors "returning to basics" by backing ultimately profitable business models at sensible valuations. The previous "growth at any cost" approach, which TMT has always structurally avoided, has now been firmly replaced with a focus on "fundamentally profitable growth at the right valuation". As a result, start-ups' success/survival rate has been largely defined by their ability to reposition and adjust to this changed market environment.
We continue to see a number of outstanding companies that are thriving in this changed market environment, and are attracting large levels of funding thanks to their strong business models and execution. We have therefore continued to make investments selectively in such companies, deploying a total of US$4.7 million across current and new portfolio companies in 2023, as well as otro US$1.0 million invested after the reporting period. Some of these investee companies announced the completion of large funding rounds in 2023, including Rain, which raised US$116m, and ON (previously known as GameON), which raised US$25m, with Forta announcing it had raised US$55m in January 2024, placing them on a well-funded path to continued growth.
TMT has capitalised on the continued share price strength of NASDAQ-traded Backblaze by disposing US$4.2 million-worth of Backblaze shares after the reporting period.
In order to provide shareholders with what we believe prudent and consistent valuations for our investments, TMT continues to prioritise the use of quoted prices and demonstrable corporate actions, such as recent fundraises, to calculate its portfolio NAVs, typically applying comparable analysis only, as is necessary, when writing down investments. Noting this approach, and given the current market backdrop, we are pleased to have delivered an increase in NAV in 2023, thanks largely to our rigorous and disciplined investment approach. With no financial debt and cash and cash equivalent reserves of US$11.0 million as of 18 March 2024, TMT is well positioned to ride out the current market volatility and to continue investing in companies that meet our investment criteria as fully as possible, while disposing of our investments whenever there is an opportunity to maximise shareholder value."
Aviso de AGM
La Asamblea General Anual de la Compañía se llevará a cabo el 28 de mayo de 2024 en 13 Castle Street, St. Helier, Jersey, JE1 1ES a las 14:30 (BST).
Copies of the Annual Report and Accounts for the year ended 31 December 2023 ("Anual Informes") and Notice of AGM will shortly be available on the Company's website at www.tmtinvestments.es.
Para más información comuníquese con:
TMT inversiones plc Aleksandr Selegenev Directora Ejecutiva www.tmtinvestments.es
| +44 370 707 4040 (Computershare - Secretario de la empresa)
|
Strand Hanson Limited (Asesor designado) James Bellman/James Danza
| 44 0 20 7409 3494 |
Cavendish Capital Markets Limitado (Articulación Broker) Ben Jeynes / George Lawson
| 44 0 20 7220 0500 |
Híbrido LLP (Articulación Broker) Claire Louise Noyce
| 44 0 20 3764 2341 |
Comunicaciones Kinlan David Hothersall
| 44 0 20 7638 3435 |
La Compañía considera que la información contenida en este anuncio constituye información privilegiada según lo estipulado en el Reglamento de Abuso de Mercado (UE) No. 596/2014, ya que forma parte de la legislación nacional del Reino Unido en virtud de la Ley de (Retirada) de la Unión Europea de 2018 , modificado en virtud del Reglamento de Abuso de Mercado (Enmienda) (Salida de la UE) de 2019.
Acerca de TMT Investments Plc
TMT Investments Plc invests in high-growth technology companies globally across a number of core specialist sectors. Founded in 2010, TMT has a current investment portfolio of over 50 companies and net assets of US$208 million as of 31 December 2023. The Company's objective is to generate an attractive rate of return for shareholders, predominantly through capital appreciation. The Company is traded on the AIM market of the London Stock Exchange. www.tmtinvestments.es.
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DECLARACIÓN DEL DIRECTOR EJECUTIVO
In 2023, the venture capital markets generally continued to experience a higher degree of market and economic volatility.
Investors' increased focus on start-ups' profitability has created a "survival of the fittest" market environment. On the one hand, companies with superior products and business models that have continued to grow and improve profitability continue to attract new capital at higher valuations. On the other hand, companies with weaker business models or non-mission critical products that were more dependent on future funding have come under increased pressure.
In line with the market, TMT's portfolio has continued to see an increased divergence between the stronger and weaker performers. Despite the ongoing challenges in the macroeconomic and political environment, investors in 2023 continued to back fast-growing, high-quality digital technology companies. We were pleased to see 3S Money, 1Fit, Collectly, SonicJobs, Mobilo, Synder, Educate Online, Laundryheap, Whizz, and AgendaPro receive further validation of their progress by raising fresh capital at higher valuation levels. These are companies operating in "tried and tested" sectors that benefit from well-established revenues and spending habits, be they, for example, payments, education, accounting software or laundry services, rather than seeking to devise completely new revenue streams. These portfolio companies are successfully competing and gaining market share against incumbents by adding significant value, be it through more efficient technology, better service, consolidation or other benefits. The combination of these factors, together with nimble execution and a focus on profitability, placed them in a favourable position to successfully raise fresh capital.
The value of TMT's equity stake in NASDAQ-traded cloud storage company Backblaze (www.backblaze.com), varied during the period, partly driven by the volatility in the share prices of many publicly traded technology companies. Based on Backblaze's closing mid-market price de 7.59 dólares por acción as of 29 December 2023, TMT's stake in Backblaze recorded a US$5.4 million increase in value compared to 31 December 2022. Backblaze's business has been developing well, recording 20% revenue growth in 2023 compared to 2022. Backblaze remains sufficiently capitalised, with an estimated net debt position of approximately US$3 million as of 31 December 2023. TMT availed itself of the opportunity provided by Backblaze's improved share price to dispose of approximately 8% of its shares in Backblaze during 2023 for a total consideration of US$2.1 million. Backblaze's closing mid-market price on 15 March 2024 was 10.04 dólares por acción.
TMT adopts a highly prudent approach to valuing its portfolio investments and therefore regularly reviews and writes down investments that are not showing the progress TMT believes is required to justify the previously reported valuation level. As a result, during the period TMT partially or fully wrote down the value of twelve of its investments (excluding the additional write-downs related purely to exchange rate fluctuations). This resulted in US$16 million of partial and full write downs.
In December 2023, TMT made its 100th investment since TMT's inception in 2010. Over the period since inception, the Company has generated a number of landmark multi-million dollar exits, US$105 million-worth of full and partial profitable disposals, four unicorns and a 16% annual IRR (internal rate of return). At the end of December 2023, 64% of TMT's portfolio value was accounted for by its five largest holdings. These are companies with strongly established business models, with a strong market presence and expanding, and typically either already operationally profitable or close to achieving profitability. The remainder of the portfolio is made up of companies in their early and mid-stages, a number of which are making admirable progress in the current environment. This means that TMT's portfolio today is a far cry from its make-up of earlier-stage start-ups in the early years.
NAV por acción
The Company's NAV per share in 2023 increased by 3.3% to US$6.62 as of 31 December 2023 (31 December 2022: US$6.41), mainly as a result of the upward revaluation of Backblaze and Collectly during the period.
Los gastos de explotación
In 2023, the Company's administrative expenses of US$1.3 millones de were below the corresponding 2022 figure of US$1.4 millones de, reflecting the Company's reduced level of investment and business development activities during the period.
Situación financiera
As of 31 December 2023, the Company had no financial debt and cash and cash equivalent reserves of US$6.6 million (31 December 2022: US$10.1 million). As of 18 March 2024, the Company had cash and cash equivalent reserves of US$11.0 million.
Outlook
TMT has a diversified investment portfolio of over 50 companies, focused primarily on Big Data/Cloud, SaaS (software-as-a-service), Mobility, and FinTech.
Despite the ongoing market and political volatility, investors continue to invest in high-quality technology businesses at the appropriate valuation levels. TMT is continuing to identify such opportunities very selectively, whilst employing a generally cautious investment approach. With no financial debt and cash and cash equivalent reserves of US$11.0 million as of 18 March 2024, TMT is well positioned to ride out the current market volatility and to continue making investments and realising full and partial disposals when the right opportunities present themselves.
Aleksandr Selegenev
Directora Ejecutiva
18 de marzo de 2024
DESARROLLOS DE PORTAFOLIO
The following developments have had an impact on, and are reflected in, the Company's NAV and/or financial statements as of 31 December 2023 in accordance with applicable accounting standards.
Profitable full and partial cash exits, and positive revaluations:
· En enero y marzo de 2023, TMT recibió un total de US$1.6 millones adicionales en dividendos de Hugo, como parte de la contraprestación por la enajenación por parte de Hugo de su negocio de entrega de alimentos y comercio rápido en Centroamérica a Delivery Hero, completada en 2022.
· In February 2023, TMT received US$0.3 million from Backblaze, Inc., as a settlement payment in respect of TMT's additional investment in Backblaze in 2021. In addition, TMT disposed of 8% of its equity stake in Backblaze in 2023, for a total net consideration of US$2.1 million.
The following of the Company's portfolio investments were positively revalued as of 31 December 2023:
Empresa de cartera | Portfolio company description | Positive revaluation amount (US$) | As % of fair value reported as of 31 Dec 2022 | Basis for revaluation |
Backblaze, Inc. | NASDAQ-listed cloud storage and data back-up company (www.backblaze.com) | 5,361,766 | 23% | Basado en el precio medio de mercado de cierre of US$7.59 per share on 29 December 2023 (incl. US$0.3m settlement and US$2.1m partial disposal proceeds received in 2023) |
Collectly, Inc. | Patient billing platform for medical organisations (www.collectly.co) | 4,389,328 | 213% | New funding round (equity) |
3S Money Club Limited | Provider of global business bank account and payment solutions (www.3s.dinero) | 3,016,809* | 21% | New funding round (equity) |
Educate Online Inc. | Distance education platform for children and young adults aged 4-19 (www.educate-online.io) | 1,847,458 | 185% | New funding round (simple agreement for future equity ("SAFE")) |
CloudBusiness Inc., trading as Synder | Accounting software solution (www.synder.com) | 1,368,571 | 66% | New funding round (SAFE) |
Alippe, Inc., trading as 1Fit | Mobile app providing users with access to multiple gyms and yoga studios in Central Asia (https://1fit.app) | 1,080,320 | 216% | New funding round (SAFE) |
lavadero | On-demand laundry and dry-cleaning services (https://www.laundryheap.co.uk/) | 993,810* | 55% | New funding round (equity) |
My Device Inc., trading as Whizz | Device-as-a-service e-bike rental company (www.getwhizz.com), | 739,241 | 70% | New funding round (equity) |
Lulu Systems, Inc., trading as Mobilo | Smart digital business card solution (www.mobilocard.com) | 470,000 | 46% | New funding round (SAFE) |
Scentbird, Inc. | Perfume subscription service (www.scentbird.com) | 418,646 | 6% | 3 independienterd party secondary share sale transaction |
AgendaPro, Inc. | SaaS-based scheduling, payment and marketing solution for the beauty and wellness industry in Latin America (www.agendapro.com) | 395,609 | 77% | New funding round (SAFE) |
SonicJobs App Ltd. | Job search app focused on "blue collar" positions (www.sonicjobs.com), | 283,666* | 46% | New funding round (equity) |
Total |
| 20,365,224 |
|
|
* - incl. foreign exchange effect
In addition, the following of TMT's non-USD denominated investments increased in value due to favourable exchange rate movements as of 31 December 2023: Bolt, Timbeter, Feel, Hinterview, MTL (Outfund), FemTech, Outvio, EstateGuru, and Bairro.
Revalorizaciones negativas:
The following of the Company's portfolio investments were negatively revalued as of 31 December 2023:
Empresa de cartera | Monto de amortización (US$) | Reducción como % del valor razonable informado al 31 de diciembre de 2022 | Razones para la amortización |
Muncher | 2,853,697 | 50% | Business negatively affected by the recent market conditions |
PandaDoc | 2,830,644 | 26% | Valuation adjusted based on an independent secondary share sale offer received by TMT |
Bafood | 2,500,000 | 100% | Business negatively affected by exposure to Ukraine and changed market conditions in the sector |
Juegos de cohetes (Legion Farm) | 1,650,000 | 100% | Disappointing performance during the year; prospects unclear |
Conte.ai (Postoplan) | 1,628,090 | 100% | Business negatively affected by the recent market conditions |
escalar | 1,378,282 | 100% | Business negatively affected by the recent market conditions and staff's exposure to Ukraine |
metrovelocidad | 1,000,000 | 100% | Business negatively affected by the current economic environment and changed market conditions in the sector |
Qumatá | 909,411 | 50% | Limited progress with the previous product; a pivot is underway |
wanelo | 602,447 | 100% | No response from the company in the last two years; limited website functionality; assumed zero equity value |
Academia del Cambio | 330,000 | 100% | Final write-off due to lack of progress in repositioning the business. Company is being liquidated. |
Ir X | 175,000 | 50% | Limited progress in the last two years; prospects unclear |
ClassTag | 101,965 | 25% | Cash exit transaction completed in August 2023, with US$0.28 million (94% of the total cash consideration due to TMT) received to date |
Total | 15,959,536 |
|
|
In addition, TMT's non-USD denominated investment in eAgronom decreased in value due to exchange rate fluctuations as of 31 December 2023.
Acontecimientos clave para las cinco participaciones de cartera más grandes en la primera mitad de 2023 (fuente: empresas de cartera de TMT):
Bolt (servicio de transporte y entrega de alimentos):
· Activo en más de 550 ciudades a nivel mundial (frente a más de 500 ciudades al 31 de diciembre de 2022)
· Crecimiento de ingresos de dos dígitos
· Planes anunciados para lograr rentabilidad en 2024 y potencialmente flotar en 2025
Backblaze (proveedor de almacenamiento en la nube):
· Crecimiento de ingresos de dos dígitos
· Múltiples nuevas integraciones y asociaciones que construyen la base para el crecimiento futuro
· Positive adjusted EBITDA achieved in Q4 2023
3S Money (provider of global business account and payment solutions):
· Crecimiento de ingresos de dos dígitos
· Regulatory permissions obtained in Luxemburg, Dubai and Singapore
· EBITDA positivo
PandaDoc (software de automatización de propuestas y gestión de contratos):
· Crecimiento de ingresos de dos dígitos
· Más de 50,000 clientes (de más de 40,000 a 31 de diciembre de 2022)
· Acquired Berlin-based fintech start-up Denario in a move to further accelerate its growth into a leading all-in-one document and payment workflow platform
Scentbird (Servicio de suscripción de productos de perfumería, bienestar y belleza):
· Crecimiento de ingresos de dos dígitos
· EBITDA positivo
Otras inversiones:
Given the persistently high level of market uncertainty and volatility, TMT continued to be more selective and made the following investments in 2023:
Inversiones de seguimiento durante el período del informe:
· ?150,000 in Bairrissimo, LDA, trading as Bairro, an instant food and grocery delivery company in Portugal (https://bairro.io);
· 100,000 dólares en Cyberwrite, una plataforma de ciberseguros de inteligencia artificial que proporciona información sobre ciberseguridad y cuantificación de riesgos para empresas de todo el mundo. (www.ciberescritura.com);
· £ 45,861 en FemTech, una aceleradora de tecnología con sede en Londres centrada en mujeres fundadoras (www.femtechlab.com);
· 500,000 dólares estadounidenses en Alippe, Inc., comercializada como 1Fit, una aplicación móvil que brinda a los usuarios acceso a múltiples gimnasios y estudios de yoga en Asia Central (https://1fit.app); y
· US$200,000 in Lulu Systems, Inc., trading as Mobilo, una solución de tarjeta de presentación digital inteligente (www.mobilocard.com).
Nuevas inversiones durante el período del informe:
· US$500,000 in Phoenix Health Inc., a Canada-based direct-to-consumer health platform for men (www.phoenix.ca);
· US$1,000,000 in GameOn Inc., an AI chat platform that powers conversational experiences for fashion, sport and retail brands and teams (www.gameontechnology.com);
· US$700,000 in Montera, Inc., trading as Forta, una plataforma de terapia de autismo impulsada por la familia (www.fortahealth.com);
· US$1,000,000 in Rain Technologies Inc., a provider of easy and instant access to earned wages (www.rainapp.com); y
· US$400,000 in Praktika.AI, a language learning app with personal AI avatar tutors (www.praktika.ai).
Nuevas inversiones después del período del informe
· US$1,000,000 in Propertymate Inc., trading as NewHomesMate, a marketplace for newly built homes (www.newhomesmate.com)
Other events after the reporting period
In January 2024, TMT received a total additional US$1.5 million in dividends from Hugo, as part of the consideration for Hugo's disposal of its food delivery and quick commerce business in Central America to Delivery Hero completed in 2022.
TMT disposed a part of its shares in NASDAQ-traded Backblaze for a total net consideration of US$4.2 million.
DECLARACIÓN DE GOBIERNO CORPORATIVO
The Board fully endorses the importance of good corporate governance and has adopted the 2018 Quoted Companies Alliance Corporate Governance Code for Small and Mid-Sized Companies (the "Código QCA"), which the Board believes to be the most appropriate corporate governance code given the Company's size, stage of development and AIM-traded status. The QCA Code is a practical, outcome-oriented approach to corporate governance that is tailored for small and mid-size quoted companies in the UK and which provides the Company with the framework and effective oversight to help ensure that a strong level of governance is maintained.
In accordance with the QCA Code and AIM Rule 26, a report providing a high-level overview of how TMT has applied the principles of the QCA Code and any areas in which the Company's governance structures and practices depart from or differ from the expectations of the QCA Code can be found within the Company's Annual Report and will be available on the Company's website following publication.
INFORME DE GESTIÓN DEL EJERCICIO TERMINADO EL 31 DE DICIEMBRE DE 2023
Los Directores presentan su informe y estados financieros auditados de la Compañía para el año terminado el 31 de diciembre de 2023.
Actividad principal y revisión del negocio
TMT Investments Plc ("TMT" o la "Compañía") se constituyó conforme a las leyes de Jersey. La Compañía se ha establecido con el propósito de realizar inversiones en el sector de TMT donde los Directores creen que existe un potencial de crecimiento y creación de valor para los accionistas. La Compañía se dirige principalmente a empresas que operan en mercados que los Directores creen que tienen un fuerte potencial de crecimiento y que tienen el potencial de convertirse en empresas multinacionales. La Compañía puede invertir en cualquier región del mundo.
Resultados y dividendos
The profit for the year amounted to US$6,377,773 (2022: loss of US$81,393,833), which includes a profit on changes in fair value of financial assets at Fair Value through profit and loss ("FVPL") of US$7,341,554 (2022: loss of US$79,638,928).
En los estados financieros se incluye mayor información sobre los resultados y la situación financiera de la Compañía.
The board has decided that it will not recommend a final dividend (2022: nil).
Listado de empresas
TMT cotiza en el mercado AIM ("AIM") de la Bolsa de Valores de Londres. El ticker de la Compañía es TMT. La información requerida por la Regla 26 de AIM está disponible en la sección "Relaciones con inversores" del sitio web de la Compañía en www.tmtinvestments.es.
Reuniones de mesa
Three Board meetings, two meeting of the Audit Committee, and one meeting of the Remuneration Committee were held in 2023. The number of meetings attended by the Directors is set out below.
Director | Reuniones de mesa | Reuniones del Comité de Auditoría | Reuniones del Comité de Retribuciones | Reuniones del Comité de Nombramientos |
Yuri Mostovói | 3 | - | - | - |
Aleksandr Selegenev | 1 | - | - | - |
andrea nastaj | 3 | 2 | 1 | - |
james mullins | 3 | 2 | 1 | - |
Reuniones totales | 3 | 2 | 1 | - |
Cambios en el capital social
The Company has one class of ordinary share that carries no right to fixed income, and each share carries the right to one vote at general meetings of the Company. As at 31 December 2023 and the date of this report, the Company's issued share capital consisted of 31,451,538 ordinary shares of no par value each in the Company.
Participaciones sustanciales
Los Directores tienen conocimiento de las siguientes participaciones accionarias del 3% o más del capital social emitido de la Compañía al 18 de marzo de 2024.
Accionistas | Número de acciones ordinarias | % del capital social ordinario emitido |
Macmillan Trading Company Limited | 7,076,058 | 22.50% |
Wissey Trade & Invest Ltd | 5,000,000 | 15.90% |
Ramify Consulting Corp | 4,728,576 | 15.03% |
Zaur Ganiev | 2,443,810 | 7.77% |
Canaccord Genuity Group Inc. | 2,154,939 | 6.85% |
Mérito Systems Inc. | 2,054,865 | 6.53% |
Menostar Holdings Limited | 1,503,489 | 4.78% |
Capital ecléctico limitado | 1,224,442 | 3.89% |
Otros | 5,265,359 | 16.75% |
Total | 31,451,538 | 100.00% |
Concierto
Actualmente existe un concierto, tal como se define en el Código de la Ciudad sobre Adquisiciones y Fusiones (el "Código"), que consta de los siguientes accionistas:
Accionista (titular legal) | Titular real (si es diferente al titular legal) | No. de acciones ordinarias | % del capital social emitido |
Macmillan Trading Company Limited ("Macmillan") | Alejandro Morgulchik 45.05%, German Kaplun 37.17%, Artemii Iniutin 17.78% | 7,076,058 | 22.50% |
Wissey Trade & Invest Ltd ("Wissey") | Andrey Kariev | 5,000,000 | 15.90% |
Ramify Consulting Corp. ("Ramificar") | Alemán Kaplun | 4,728,576 | 15.03% |
Mérito Systems Inc. | Artemii Iniutin | 2,054,865 | 6.53% |
Menostar Holdings Limited ("Menostar") | Dmitri Kirpichenko | 1,503,489 | 4.78% |
Eclectic Capital Limited ("Ecléctico") | Nika Kirpichenko | 1,224,442 | 3.89% |
Natalia Inyutina (Hija adulta de Artemii Iniutin) | 727,156 | 2.31% | |
Artemii Iniutin | 380,877 | 1.21% | |
Vlada Kaplun (hija adulta de German Kaplun) | 363,578 | 1.16% | |
Marina Kedrova (Hija adulta de German Kaplun) | 363,578 | 1.16% | |
Alemán Kaplun | 138,938 | 0.44% | |
Alejandro Morgulchik | 138,938 | 0.44% | |
Total |
| 23,700,495 | 75.36% |
Desde septiembre de 2013, cuando la Compañía pasó a estar sujeta al Código, la parte concertada ha estado interesada, en conjunto, en más del 50% del capital social emitido de la Compañía en todo momento.
The total direct and indirect interest in TMT by the concert party's beneficial holders are as follows:
Titular real | No. de acciones ordinarias | % del capital social emitido |
Alemán Kaplun | 7,497,458 | 23.84% |
Andrey Kariev | 5,000,000 | 15.90% |
Artemii Iniutin | 3,694,092 | 11.75% |
Alejandro Morgulchik | 3,326,702 | 10.58% |
Dmitri Kirpichenko | 1,503,489 | 4.78% |
Nika Kirpichenko | 1,224,442 | 3.89% |
Natalia Inyutina | 727,156 | 2.31% |
Vlada Kaplún | 363,578 | 1.16% |
Marina Kedrova | 363,578 | 1.16% |
Total | 23,700,495 | 75.36% |
NOTAS:
The majority of the ordinary shares held by Eclectic were previously held by Menostar, who invested in the Company at the time of its Admission. The beneficial owner of Eclectic is Nika Kirpichenko who is the wife of Dmitry Kirpichenko, the beneficial owner of Menostar. Wissey and Menostar both invested in the Company on its Admission and, along with Eclectic, have invested in and/or been otherwise involved with other business ventures associated with the two founders of the Company Alexander Morgulchik and German Kaplun.
La Compañía actualizará esta divulgación en futuros informes financieros anuales y, si corresponde, a través de anuncios de RNS.
directiva
Durante el ejercicio ejercieron sus cargos los siguientes Consejeros:
Yuri Mostovoy Presidente no ejecutivo
Alexander Selegenev Executive Director
James Joseph Mullins Independent Non-Executive Director
andrea nastaj Director no ejecutivo independiente
The Directors' fees for 2023 and 2022 were as follows:
Director |
|
| 2023 USD | 2022 USD |
Yuri Mostovói | 56,250 | 55,000 | ||
Aleksandr Selegenev | 113,750 | 110,000 | ||
James Joseph Mullins | 28,077 | 27,081 | ||
Petr Lanín | - | 9,347 | ||
andrea nastaj | 18,741 | 10,738 |
Hechos posteriores posteriores al final del período
In January 2024, TMT received a total additional US$1.5 million in dividends from Hugo, as part of the consideration for Hugo's disposal of its food delivery and quick commerce business in Central America to Delivery Hero completed in 2022.
TMT invested US$1,000,000 in Propertymate Inc., trading as NewHomesMate, a marketplace for newly built homes (www.newhomesmate.com)
TMT disposed a part of its shares in NASDAQ-traded Backblaze for a total net consideration of US$4.2 million.
Declaración de responsabilidades de los directores con respecto al informe anual y los estados financieros
Los Directores son responsables de preparar el Informe Anual y las Cuentas de acuerdo con la ley aplicable y las Normas Internacionales de Información Financiera ("NIIF") adoptadas por el Reino Unido.
La Ley de Sociedades (Jersey) de 1991 (modificada) ("Ley de Sociedades") exige que los Directores preparen estados financieros para cada ejercicio económico. Los Directores son responsables de mantener registros contables adecuados que sean suficientes para mostrar y explicar las transacciones de la Compañía y divulgar con precisión razonable en cualquier momento la situación financiera de la Compañía y permitirles asegurar que sus estados financieros cumplan con la Ley de Sociedades. Tienen la responsabilidad general de tomar las medidas que estén razonablemente disponibles para salvaguardar los activos de la Compañía y prevenir y detectar fraudes y otras irregularidades.
Los Consejeros son responsables de la elaboración del informe de Consejeros y de la declaración de gobierno corporativo. Los Directores son responsables del mantenimiento e integridad de la información corporativa y financiera incluida en el sitio web de la Compañía. La legislación de Jersey que rige la preparación y difusión de los estados financieros puede diferir de la legislación de otras jurisdicciones.
Los Consejeros no deben aprobar los estados financieros a menos que estén convencidos de que ofrecen una visión fiel y fiel del estado de cosas de la Sociedad y de los beneficios o pérdidas de ese período. En la preparación de estos estados financieros, los Directores están obligados a:
· seleccionar políticas contables adecuadas y luego aplicarlas de manera coherente;
· hacer juicios y estimaciones contables que sean razonables y prudentes;
· indicar si se han seguido las NIIF aplicables adoptadas por el Reino Unido, sujeto a cualquier desviación material revelada y explicada en los estados financieros; y
· preparar los estados financieros sobre la base de la empresa en funcionamiento, a menos que sea inapropiado suponer que la Compañía continuará en el negocio.
Declaración de responsabilidad de los directores
Cada uno de los Directores, cuyos nombres se enumeran en la sección de Directores anterior, confirman que, al leal saber y entender de cada persona:
· los estados financieros, elaborados de conformidad con las NIIF adoptadas por el Reino Unido, ofrecen una imagen fiel de los activos, pasivos, situación financiera y beneficios o pérdidas de la Sociedad; y
· el informe de los Directores contenido en el informe anual incluye una revisión veraz y justa del desarrollo y desempeño del negocio y la posición de la Compañía.
Preocupación continua
Los Directores confirman que, luego de considerar debidamente la posición financiera y los flujos de efectivo esperados de la Compañía; tienen una expectativa razonable de que la Compañía tendrá recursos de efectivo adecuados para continuar con su existencia operativa en el futuro previsible y durante al menos un año a partir de la fecha de aprobación de estos estados financieros y, por lo tanto, han adoptado el principio de negocio en marcha al preparar los estados financieros. Estados financieros.
Revelación de información a los auditores
Cada una de las personas que es Director a la fecha de aprobación de este informe anual confirma que:
· hasta donde los Directores saben, no hay información de auditoría relevante que los auditores de la Compañía desconozcan; y
· los directores han tomado las medidas que deberían haber tomado para estar al tanto de cualquier información de auditoría relevante y para establecer que los auditores están al tanto de esa información.
The Company's auditors will be proposed for reappointment at the Company's next scheduled AGM.
En nombre de la Junta Directiva
Aleksandr Selegenev
Directora Ejecutiva
18 de marzo de 2024
ESTADOS FINANCIEROS
Estado del resultado integral
Para el año terminado | Para el año terminado | ||
Notas | USD | USD | |
Ganancias/(Pérdidas) en inversiones | 3 | 7,357,560 | (79,864,874) |
Ingresos por dividendos | 36,883 | 105,844 | |
Total investment income/(loss) | 7,394,443 | (79,759,030) | |
Gastos |
|
| |
Gastos administrativos | 5 | (1,322,882) | (1,443,395) |
Ganancia / (pérdida) operativa | 6,071,561 | (81,202,425) | |
Ingresos financieros, neto | 7 | 263,441 | 9,729 |
Ganancia/(pérdida) por cambio de moneda | 42,771 | (201,137) | |
Gain/(Loss) before taxation | 6,377,773 | (81,393,833) | |
Taxation | 8 | - | - |
Gain/(Loss) attributable to equity shareholders | 6,377,773 | (81,393,833) | |
Total utilidad / (pérdida) integral del año | 6,377,773 | (81,393,833) | |
Gain/(Loss) per share |
|
| |
Basic and diluted gain/(loss) per share (cents per share) | 9 | 20.28 | (258.78). |
Estado de situación financiera
Company registration number: 106628 (Jersey)
Al 31 de diciembre 2023 | Al 31 de diciembre 2022 | ||
Notas | USD | USD | |
Activos no corrientes | |||
Activos financieros a FVPL | 10 | 203,086,676 | 195,260,535 |
Total del activo no corriente |
| 203,086,676 | 195,260,535 |
Activos circulantes | |||
Cuentas comerciales y otras cuentas por cobrar | 11 | 151,908 | 1,382,811 |
Efectivo y equivalentes de efectivo | 12 | 6,590,935 | 10,102,683 |
Total de activos corrientes |
| 6,742,843 | 11,485,494 |
los activos totales |
| 209,829,519 | 206,746,029 |
Pasivo circulante | |||
Comerciales y otras cuentas a pagar | 13 | 1,717,816 | 5,012,099 |
Total pasivo corriente |
| 1,717,816 | 5,012,099 |
Pasivos totales |
| 1,717,816 | 5,012,099 |
Activos netos |
| 208,111,703 | 201,733,930 |
Equidad |
|
|
|
Capital social | 14 | 53,283,415 | 53,283,415 |
Retaining earnings | 154,828,288 | 148,450,515 | |
Equidad total |
| 208,111,703 | 201,733,930 |
Estado de flujos de efectivo
Para el año terminado | Para el año terminado | ||
Notas | USD | USD | |
Actividades de explotación | |||
Gain/(Loss) attributable to equity shareholders | 6,377,773 | (81,393,833) | |
Adjustments for non?cash items: |
|
|
|
Cambios en el valor razonable de los activos financieros a FVPL | 3 | (7,341,554) | 79,638,928 |
Interés recibido | (263,441) | (9,729) | |
Deterioro de cuentas por cobrar | 52,510 | 249,060 | |
| (1,174,712) | (1,515,574) | |
Cambios en el capital de trabajo: |
|
| |
Disminución de cuentas por cobrar comerciales y otras | 11 | 1,178,393 | 418,778 |
Disminución de cuentas por pagar comerciales y otras | 13 | (3,294,283) | (4,892,724) |
Efectivo neto utilizado en actividades operativas |
| (3,290,602) | (5,989,520) |
Actividades de inversión | |||
Compra de activos financieros en FVPL | 10 | (4,686,489) | (9,608,593) |
Proceeds from sale/disposal of financial assets at FVPL | 10 | 4,201,902 | 163,266 |
Intereses recibidos sobre letras del tesoro y depósitos | 7 | 263,441 | 9,729 |
Efectivo neto utilizado en actividades de inversión |
| (221,146) | (9,435,598) |
Disminución de efectivo y equivalentes de efectivo |
| (3,511,748) | (15,425,118) |
Efectivo y equivalentes de efectivo al inicio del año | 10,102,683 | 25,527,801 | |
Efectivo y equivalentes de efectivo al final del año | 12 | 6,590,935 | 10,102,683 |
Estado de cambios en el Patrimonio Neto
Por el año terminado el 31 de diciembre de 2022 y por el año terminado el 31 de diciembre de 2023, USD
Capital social | Ganancias retenidas | Total | ||
Note | USD | USD | USD | |
Saldo al 31 de diciembre de 2021 |
| 53,283,415 | 229,844,348 | 283,127,763 |
Pérdida integral | ||||
Pérdida del año | - | (81,393,833) | (81,393,833) | |
Pérdida integral total del año | - | (81,393,833) | (81,393,833) | |
Saldo al 31 de diciembre de 2022 |
| 53,283,415 | 148,450,515 | 201,733,930 |
Ganancia para el año | - | 6,377,773 | 6,377,773 | |
Resultado integral total del año |
| - | 6,377,773 | 6,377,773 |
Saldo al 31 de diciembre de 2023 |
| 53,283,415 | 154,828,288 | 208,111,703 |
Las cuentas anuales fueron aprobadas por el Consejo de Administración el 18 de marzo de 2024 y firmadas en su nombre por:
Aleksandr Selegenev
Directora Ejecutiva
NOTAS A LOS ESTADOS FINANCIEROS POR EL EJERCICIO TERMINADO EL 31 DE DICIEMBRE DE 2023
1. Información de la empresa
TMT Investments Plc ("TMT" o la "Compañía") es una empresa constituida en Jersey con domicilio social en 13 Castle Street, St Helier, Jersey, JE1 1ES, Islas del Canal.
The Company was incorporated and registered on 30 September 2010 in Jersey under the Companies (Jersey) Law 1991 (as amended) with registration number 106628 under the name TMT Investments Limited. The Company obtained consent from the Jersey Financial Services Commission pursuant to the Control of Borrowing (Jersey) Order 1985 on 30 September 2010. On 1 December 2010 the Company re?registered as a public company and changed its name to TMT Investments Plc. The Company's ordinary shares were admitted to trading on the AIM market of the London Stock Exchange on 10 December 2010.
La escritura de constitución y los estatutos de la Sociedad no restringen sus actividades y por tanto tiene capacidad jurídica ilimitada. La capacidad de la Compañía para implementar su Política de inversión y lograr los rendimientos deseados estará limitada por su capacidad para identificar y adquirir inversiones adecuadas. Las oportunidades de inversión adecuadas pueden no estar siempre disponibles.
The Company seeks to make investments in any region of the world. The Company invests in high?growth technology companies globally across a number of core specialist sectors. The Company's objective is to generate an attractive rate of return for shareholders, predominantly through capital appreciation.
Financial statements of the Company are prepared by and approved by the Directors in accordance with International Financial Reporting Standards, UK?adopted International Accounting Standards and their interpretations issued or adopted by the International Accounting Standards Board ("IFRSs"). The Company's accounting reference date is 31 December.
2. Resumen de políticas contables importantes
2.1. Base de presentación
Las principales políticas contables aplicadas por la Compañía en la preparación de estos estados financieros se establecen a continuación y han sido aplicadas consistentemente.
The financial statements have been prepared on a going concern basis, under the historical cost basis as modified by the fair value of financial assets at FVPL, as explained in the accounting policies below, and in accordance with IFRS. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
The preparation of financial statements, in compliance with UK adopted International Accounting Standards, requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 2.12).
2.2. Empresa en marcha
The Directors confirm that, after giving due consideration to the financial position and expected cash flows of the Company and due to availability of highly liquid investments readily realisable for cash should this be needed; they have a reasonable expectation that the Company will have adequate cash resources to continue in operational existence for the foreseeable future, and for at least one year from the date of approval of these financial statements and they have therefore adopted the going concern basis in preparing the financial statements.
2.3. Informes por segmentos
Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision?maker who is responsible for allocating resources and assessing performance of the operating segments and which has been identified as the Board that make strategic decisions. For the purposes of IFRS 8 'Operating Segments' the Company currently has one segment, being 'Investing in the TMT sector'.
Aunque la Compañía solo invierte en el sector de TMT, todavía hay revelaciones geográficas que deben realizarse para cumplir con la NIIF 8 'Segmentos operativos'.
2.4. Conversión de moneda extranjera
Moneda funcional y de presentación
Las partidas incluidas en los estados financieros de la Compañía se miden en dólares estadounidenses ('dólares estadounidenses', 'USD' o 'US$'), que es la moneda funcional y de presentación de la Compañía.
Transacciones y saldos
Foreign currency transactions are translated into US$ using the exchange rates prevailing at the dates of the transactions. Foreign currency monetary items are translated using the closing rate (i.e. mid?market price investments).
Non?monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was measured. (i.e. comparable company analysis and cost?based investments as these are effectively re?fair valued at each year?end).
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.
| Tasas de conversión, USD | |
Moneda | Como en | Average rate, 2023 |
Libras esterlinas | 1.2747 | 1.2393 |
Euro | 1.1047 | 1.0862 |
2.5. Efectivo y equivalentes de efectivo
Cash and cash equivalents consist of cash at bank and in hand, deposits held at call with banks, and other short?term highly liquid investments with maturities of three months or less from the date of acquisition.
2.6. Activos y pasivos financieros
Reconocimiento y medida
La Compañía reconoce los activos y pasivos financieros cuando se convierte en parte de las disposiciones contractuales del instrumento. Los activos financieros se dan de baja cuando expiran los derechos contractuales sobre los flujos de efectivo del activo financiero, o cuando se transfiere el activo financiero y sustancialmente todos los riesgos y beneficios. Un pasivo financiero se da de baja cuando se extingue, liquida, cancela o expira. Los activos financieros se miden inicialmente al valor razonable ajustado por los costos de transacción (cuando corresponda). Los activos financieros se clasifican en las siguientes categorías:
· costo amortizado;
· fair value through profit or loss (FVPL); and
· valor razonable a través de otro resultado integral (FVOCI).
In the periods presented, the Company did not have any financial assets categorised as FVOCI. The classification is determined by both:
· el modelo de negocio de la entidad para gestionar el activo financiero; y
· las características del flujo de efectivo contractual del activo financiero.
Medición posterior
FVPL
All financial investments of the Company are measured at fair value through profit or loss and are subject to a fair value revaluation at year end date.
The Company manages its investments with a view of profiting from the receipt of dividends and changes in fair value of equity investments. Financial assets of the Company comprise of listed and unlisted equity investments, convertible promissory notes and SAFEs. All the financial assets are not for trading and are classified as financial assets at FVPL. Directly attributable transaction costs are recognised in profit or loss as incurred. Financial assets at fair value through profit or loss are measured at fair value, and changes therein are recognised in profit or loss.
When measuring the fair value of a financial instrument, the Company uses relevant transactions during the year or shortly after the year end, which gives an indication of fair value and considers other valuation methods to provide evidence of value. The "price of recent investment" methodology is used mainly for venture capital investments, and the fair value is derived by reference to the most recent financing round or sizeable partial disposal. Fair value change is only recognised if that round involved a new external investor. From time to time, the Company may assess the fair value in the absence of a relevant independent transaction by relying on other market observable data and valuation techniques, such as the analysis of comparable companies and/or comparable transactions. The nature of such valuation techniques is highly judgmental and dependent on the market sentiment at the time of the analysis.
Los valores razonables se clasifican en diferentes niveles en una jerarquía de valor razonable basada en las entradas utilizadas en las técnicas de valoración de la siguiente manera:
Nivel 1: The fair value of financial instruments traded in active markets is based on quoted market prices at the end of the reporting period. The quoted market price used for financial assets held by the Company is the mid?market price at the time. These instruments are included in level 1.
Nivel 2: El valor razonable de los instrumentos financieros que no se negocian en un mercado activo se determina utilizando técnicas de valoración que maximizan el uso de datos de mercado observables y confían lo menos posible en estimaciones específicas de la entidad. Las técnicas de valoración específicas utilizadas para valorar instrumentos financieros incluyen el uso de precios de mercado cotizados o cotizaciones de intermediarios para instrumentos similares.
Nivel 3: Si una o más de las entradas importantes no se basan en datos de mercado observables, el instrumento se incluye en el nivel 3.
Transfers between levels of the fair value hierarchy, for the purpose of preparing these financial statements, are deemed to have occurred at the beginning of the reporting period.
Where an active market is established for an investment it is classified to level 1 with a mid?market price valuation methodology applied. Where observable market data becomes available for an investment, including for comparable companies within an active market, it is classified to level 2 with comparable company analysis used as the valuation methodology. The investment otherwise remains classified to level 3, with the cost of investment or price of recent investment valuation methodology applied.
Los activos financieros que califican como asociada, ya que la empresa posee el 20% o más de los derechos de voto, están exentos de la NIC 28 'Inversiones en asociadas', ya que TMT es una organización de capital de riesgo. Por lo tanto, dichas inversiones se tratan como activos financieros en FVPL.
Activos financieros a costo amortizado
Los activos financieros se miden al costo amortizado si los activos cumplen con las siguientes condiciones:
· se mantienen dentro de un modelo de negocio cuyo objetivo es mantener los activos financieros y cobrar sus flujos de efectivo contractuales; y
· los términos contractuales de los activos financieros dan lugar a flujos de efectivo que son únicamente pagos de principal e intereses sobre el importe de principal pendiente.
After initial recognition, these are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and other receivables fall into this category of financial instruments.
Deterioro de activos financieros
In relation to the impairment of financial assets, IFRS 9 requires an expected credit loss model to be applied. The expected credit loss model requires the Company to account for expected credit losses and changes in those expected credit losses at each reporting date to reflect changes in credit risk since initial recognition of the financial assets. IFRS 9 requires the Company to recognise a loss allowance for expected credit losses on receivables. In particular, IFRS 9 requires the Company to measure the loss allowance for a financial instrument at an amount equal to the lifetime expected credit losses (ECL) if the credit risk on that financial instrument has increased significantly since initial recognition, or if the financial instrument is a purchased or originated credit?impaired financial asset. However, if the credit risk on a financial instrument has not increased significantly since initial recognition, the Company is required to measure the loss allowance for that financial instrument at an amount equal to 12 months ECL.
por
Los ingresos por intereses de las notas por cobrar convertibles se reconocen a medida que se devengan por referencia al principal pendiente de pago y la tasa de interés efectiva aplicable, que es la tasa que descuenta exactamente los flujos de efectivo futuros estimados a lo largo de la vida esperada del activo financiero al valor en libros del activo.
2.7. Ingresos financieros netos
Net finance income comprises interest income on deposits, bank balances and other cash equivalents. Interest income is recognised as it accrues in the statement of comprehensive income, using the effective interest method.
2.8. Impuestos
El impuesto a pagar actualmente se basa en la utilidad imponible del ejercicio. La ganancia imponible difiere de la ganancia neta tal como se informa en la cuenta de pérdidas y ganancias porque excluye las partidas de ingresos o gastos que son gravables o deducibles en otros años y excluye además las partidas que nunca son gravables o deducibles. La responsabilidad de la empresa por el impuesto corriente se calcula utilizando las tasas impositivas que se han promulgado o se han promulgado sustancialmente a la fecha de finalización del informe.
El impuesto diferido se proporciona en su totalidad utilizando el método del pasivo, sobre las diferencias temporarias que surgen entre las bases fiscales de los activos y pasivos y sus valores en libros en los estados financieros. El impuesto diferido no se contabiliza si surge del reconocimiento inicial de un activo o pasivo en una transacción distinta de una combinación de negocios que, en el momento de la transacción, no afecta la ganancia o pérdida contable ni fiscal. El impuesto diferido se determina usando las tasas impositivas que se espera aplicar cuando se realiza el activo por impuesto diferido relacionado o cuando se liquida el pasivo por impuesto diferido. Los activos por impuestos diferidos se reconocen en la medida en que sea probable que se vayan a disponer de ganancias fiscales futuras contra las que puedan utilizarse las diferencias temporarias.
The Company is incorporated in Jersey. There are not any tax expenses recognised in the Statement of comprehensive income as the De la empresa current income tax rate in Jersey is 0%.
2.9. Equity instruments
Las acciones ordinarias se clasifican como patrimonio. Los costos directamente atribuibles a la emisión de nuevas acciones se presentan en el patrimonio neto como una deducción de los producidos.
2.10. New IFRSs and interpretations
The following standards and amendments became effective from 1 January 2023, but did not have any impact on the Company:
· NIIF 17 Contratos de seguro;
· Amendments to IFRS 17 - Initial Application of IFRS 17 & IFRS 9 (Comparative Information);
· Amendments to IAS 1 ? Presentation of Financial Statements (Classification of Liabilities as Current or Non?current);
· Amendments to IAS 1 and IFRS Practice Statement 2 - Making Materiality Judgements (Disclosure of Accounting Policies);
· Amendments to IAS 12 - Income Taxes (Deferred Tax related to Assets and Liabilities arising from a Single Transaction);
· Amendments to IAS 8 - Accounting Policies, Changes in Accounting Estimates and Errors (Definition of Accounting Estimates).
2.11. Future IFRS changes
The following table summarises changes to IFRS adoption which is mandatory for periods beginning in 2024 and beyond:
Estándar | Fecha efectiva | General |
Modificación a la NIIF 16 - Arrendamientos en venta y arrendamiento posterior | 1 January 2024 (early adoption permitted) | Estas modificaciones incluyen requisitos para transacciones de venta y arrendamiento posterior en la NIIF 16 para explicar cómo una entidad contabiliza una venta y arrendamiento posterior después de la fecha de la transacción. Las transacciones de venta y arrendamiento posterior en las que algunos o todos los pagos de arrendamiento son pagos de arrendamiento variables que no dependen de un índice o tasa tienen más probabilidades de verse afectadas. |
Amendment to IAS 1 - Non?current liabilities with covenants | 1 January 2024 (early adoption permitted) | These amendments clarify how conditions with which an entity must comply within twelve months after the reporting period affect the classification of a liability. The amendments also aim to improve information an entity provides related to liabilities subject to these conditions. |
Amendment to IAS 7 and IFRS 7 ? Supplier finance | 1 January 2024 (early adoption permitted) | These amendments require disclosures to enhance the transparency of supplier finance arrangements and their effects on an entity's liabilities, cash flows and exposure to liquidity risk. The disclosure requirements are the IASB's response to investors' concerns that some companies' supplier finance arrangements are not sufficiently visible, hindering investors' analysis. |
Amendments to IAS 21 ? Lack of Exchangeability | 1 January 2024 (early adoption permitted) | Una entidad se ve afectada por las modificaciones cuando tiene una transacción u operación en una moneda extranjera que no es intercambiable por otra moneda en una fecha de medición para un propósito específico. Una moneda es intercambiable cuando existe la posibilidad de obtener la otra moneda (con un retraso administrativo normal), y la transacción se llevaría a cabo a través de un mercado o mecanismo de intercambio que crea derechos y obligaciones exigibles. |
These changes are not expected to have any impact on the Company in 2024 and beyond.
2.12. Estimaciones y juicios contables
Las estimaciones y los juicios deben evaluarse periódicamente y se basan en la experiencia histórica y otros factores, incluidas las expectativas de eventos futuros que se consideran razonables según las circunstancias. La Compañía realiza estimaciones y suposiciones sobre el futuro. Las estimaciones contables resultantes, por definición, rara vez serán iguales a los resultados reales relacionados.
The estimates and underlying assumptions are reviewed on an on?going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods.
The estimates significant to the financial statements during the year and at the year?end is the consideration of the fair value of financial assets at FVPL as set out in the relevant accounting policies shown above. A number of the financial assets at FVPL held by the Company are at an early stage of their development. The Company cannot yet carry out regular reliable fair value estimates of some of these investments. Future events or transactions involving the companies invested in may result in more accurate valuations of their fair values (either upwards or downwards) which may affect the Company's overall net asset value.
As summarised in note 10 the Company has investments held at year?end of US$96,422,492 (2022: dólares estadounidenses94,755,170) classified as level 2 in the fair value hierarchy, valued on a comparable company analysis basis. The Company has a further US$80,653,740 (2022: dólares estadounidenses77,512,433) classified as level 3, valued at cost or price of recent investment (less any currency exchange?related impairment charges). Generally, when impairments are used in the comparable company valuation methodology, impairments are allocated on a 50%?66% basis when management determine that there is increased uncertainty over the investee's business prospects and/or exit strategy, or a 100% basis when management determine that the investment is unlikely to be recovered. Readers of these financial statements should consider the inherent uncertainty principle involved when considering these investment valuations.
3. Ganancias/(Pérdidas) en inversiones
Para el año terminado | Para el año terminado | |
USD | USD | |
Ingresos brutos por intereses de pagarés convertibles por cobrar | 6,213 | 40,012 |
Ingresos netos por intereses de pagarés convertibles por cobrar | 6,213 | 40,012 |
Gains/(Losses) on changes in fair value of financial assets at FVPL | 7,341,554 | (79,638,928) |
Deterioro de cuentas por cobrar | (52,510) | (249,060) |
Otras ganancias/(pérdidas) de inversiones | 62,303 | (16,898) |
Total net gains/(losses) on investments | 7,357,560 | (79,864,874) |
During the year ended 31 December 2023, impairment losses related to receivables for previously disposed investments of US$52,510 were recognised (2022: US$249,060).
4. Análisis segmentario
Información geográfica
The Company has investments in the following geographic areas: the USA, Canada, Estonia, the United Kingdom, Portugal, BVI and the Cayman Islands.
Non?current financial assets
| Estados Unidos de America y Canadá | Islas Caimán | BVI | Estonia | Chipre | Reino Unido | Portugal | Total |
As at 31/12/ 2023 | USD | USD | USD | USD | USD | USD | USD | USD |
Inversiones iguales | 73,579,189 | - | 1,695,398 | 74,200,126 | - | 34,987,820 | - | 184,462,533 |
Billetes convertibles y cajas fuertes | 16,517,060 | 1,030,000 | - | - | - | - | 1,077,083 | 18,624,143 |
Total | 90,096,249 | 1,030,000 | 1,695,398 | 74,200,126 | - | 34,987,820 | 1,077,083 | 203,086,676 |
| Estados Unidos de America y Canadá | Islas Caimán | BVI | Estonia | Chipre | Reino Unido | Portugal | Total |
As at 31/12/ 2022 | USD | USD | USD | USD | USD | USD | USD | USD |
Inversiones iguales | 66,393,603 | - | 3,255,052 | 71,759,682 | 330,000 | 30,481,358 | - | 172,219,695 |
Billetes convertibles y cajas fuertes | 14,800,030 | 1,030,000 | - | 1,628,090 | 4,100,000 | 601,950 | 880,770 | 23,040,840 |
Total | 81,193,633 | 1,030,000 | 3,255,052 | 73,387,772 | 4,430,000 | 31,083,308 | 880,770 | 195,260,535 |
5. Gastos administrativos
Los gastos administrativos incluyen las siguientes cantidades:
Para el año terminado | Para el año terminado | |
USD | USD | |
Gastos de personal (nota 6) | 845,218 | 825,366 |
Honorarios profesionales | 270,695 | 326,651 |
Honorarios de abogados | 26,818 | 82,941 |
Cargos bancarios y LSE | 16,507 | 15,069 |
Honorarios de auditoría | 50,985 | 59,577 |
honorarios de contabilidad | 20,070 | 17,480 |
Otros gastos | 92,589 | 116,311 |
| 1,322,882 | 1,443,395 |
6. Gastos de personal
Para el año terminado | Para el año terminado | |
USD | USD | |
Honorarios de los directores | 216,818 | 212,166 |
Sueldos y salarios | 628,400 | 613,200 |
| 845,218 | 825,366 |
Wages and salaries shown above include fees and salaries relating to the year ended 31 December 2023.
The Directors' fees for 2023 were as follows:
Para el año terminado | Para el año terminado | |
USD | USD | |
Aleksandr Selegenev | 113,750 | 110,000 |
Yuri Mostovói | 56,250 | 55,000 |
James Joseph Mullins | 28,077 | 27,081 |
Petr Lanín | - | 9,347 |
andrea nastaj | 18,741 | 10,738 |
| 216,818 | 212,166 |
Los honorarios de los Directores que se muestran arriba se clasifican como 'beneficios de empleo a corto plazo' según la Norma Internacional de Contabilidad 24. Los Directores no reciben ninguna contribución de pensión u otros beneficios. El número medio de empleados (excluidos los Consejeros) de la Sociedad durante el ejercicio ha sido de 7 (2022: 7).
Key management personnel of the Company are defined as those persons having authority and responsibility for the planning, directing and controlling the activities of the Company, directly or indirectly. Key management of the Company are therefore considered to be the Directors of the Company. There were no transactions with the key management, other than their fees and reimbursement of business expenses.
Under the Company's Bonus Plan, subject to achieving a minimum hurdle NAV and high watermark conditions, the team receives an annual cash bonus equal to 10% of the net increases in the Company's NAV, adjusted for any changes in the Company's equity capital resulting from issuance of new shares, dividends, share buy?backs and similar corporate transactions. The Company`s bonus year runs from 1 January to 31 December. As the Company's adjusted NAV did not exceed the previously achieved high watermark during the financial year, no bonus accrued for the year ended 31 December 2023.
7. Ingresos financieros netos
Para el año terminado | Para el año terminado | |
| USD | USD |
Ingresos por intereses | 263,441 | 9,729 |
| 263,441 | 9,729 |
8. Ingreso por gastos de impuesto
The Company is incorporated in Jersey. No tax reconciliation note has been presented as the De la empresa current income tax rate in Jersey is 0%.
9. Gain/(Loss) per share
The calculation of basic gain per share is based upon the net losses for the year ended 31 December 2023 attributable to the ordinary shareholders of US$6,377,773 (2022: net loss of US$81,393,833) and the weighted average number of ordinary shares outstanding calculated as follows:
Ganancia por acción | Para el año terminado | Para el año terminado |
Basic gain/(loss) per share (cents per share) | 20.28 | (258.78). |
Gain/(Loss) attributable to equity holders of the entity | 6,377,773 | (81,393,833) |
El promedio ponderado de acciones ordinarias en circulación se calculó de la siguiente manera:
| Para el año terminado | Para el año terminado |
Número medio ponderado de acciones emitidas | ||
Acciones ordinarias | 31,451,538 | 31,451,538 |
| 31,451,538 | 31,451,538 |
10. Non?current financial assets
Reconciliation of fair value measurements of non?current financial assets:
| Al 31 de diciembre de 2023 | Al 31 de diciembre de 2022 |
Inversiones mantenidas a valor razonable con cambios en resultados, USD: | ||
? listed and unlisted shares (i) | 184,462,533 | 172,219,695 |
? promissory notes (ii) | 1,600,030 | 4,830,070 |
? SAFEs (iii) | 17,024,113 | 18,210,770 |
| 203,086,676 | 195,260,535 |
| Al 31 de diciembre de 2023 | Al 31 de diciembre de 2022 |
| USD | USD |
Valoración de apertura | 195,260,535 | 265,454,136 |
Purchases (including consulting fees) | 4,686,489 | 9,608,593 |
La eliminación procede | (4,201,902) | (163,266) |
Pérdidas por deterioro en el ejercicio | (10,289,184) | (1,280,016) |
Pérdida realizada | 1,098,401 | - |
Ganancias / (pérdidas) no realizadas | 16,532,337 | (78,358,912) |
Valoración de cierre | 203,086,676 | 195,260,535 |
Movimiento de ganancias/(pérdidas) no realizadas |
|
|
Apertura de ganancias acumuladas no realizadas | 118,262,354 | 195,706,888 |
Ganancias / (pérdidas) no realizadas | 16,532,337 | (78,358,912) |
Transferencia de ganancias/(pérdidas) previamente no realizadas a la reserva realizada en el momento de la enajenación de inversiones | (1,605,184) | 914,378 |
Cierre de ganancias acumuladas no realizadas | 133,189,507 | 118,262,354 |
Reconciliation of investments, if held under the cost and price of recent investment model:
Base de costo histórico |
|
|
Costo del libro de apertura | 76,998,181 | 69,747,248 |
Purchases (including consulting fees) | 4,686,489 | 9,608,593 |
Enajenaciones por venta de inversiones | (1,498,317) | (57,660) |
Pérdidas por deterioro en el ejercicio | (10,289,184) | (2,300,000) |
Costo del libro de cierre | 69,897,169 | 76,998,181 |
Metodología de valoración |
|
|
Nivel A1 ? Mid?market price | 26,010,444 | 22,992,932 |
Nivel A2 ? Análisis de empresas comparables | 96,422,492 | 94,755,170 |
Nivel A3 ? Costo o precio de la inversión reciente | 80,653,740 | 77,512,433 |
| 203,086,676 | 195,260,535 |
The estimates significant to the financial statements during the year and at the year?end is the consideration of the fair value of financial assets at FVPL as set out in the relevant accounting policies shown above. A number of the financial assets at FVPL held by the Company are at an early stage of their development. The Company cannot yet carry out regular reliable fair value estimates of some of these investments. Future events or transactions involving the companies invested in may result in more accurate valuations of their fair values (either upwards or downwards) which may affect the Company's overall net asset value.
Valuation methodologies can be changed from time to time, the following table shows the changes made for 2023 compared to 2022. These investments were held at cost or price of recent investments of the total value of US$7,876,217 as of 31 December 2022:
Empresa | 2023 | 2022 |
Cheetah (Go?X) | Análisis de empresas comparables | Cost and price of recent investment |
Muncher | Análisis de empresas comparables | Cost and price of recent investment |
Qumatá | Análisis de empresas comparables | Cost and price of recent investment |
The following table shows the changes made for 2022 compared to 2021. These investments were held at cost or price of recent investments of the total value of US$133,457,069 as of 31 December 2021:
Empresa | 2022 | 2021 |
Mirada 3D | Análisis de empresas comparables | Costo o precio de la inversión reciente |
Aficionado | Análisis de empresas comparables | Costo o precio de la inversión reciente |
academia de cambio | Análisis de empresas comparables | Costo o precio de la inversión reciente |
Bolt | Análisis de empresas comparables | Costo o precio de la inversión reciente |
EstateGuru | Análisis de empresas comparables | Costo o precio de la inversión reciente |
Ciencia MEL | Análisis de empresas comparables | Costo o precio de la inversión reciente |
moeco | Análisis de empresas comparables | Costo o precio de la inversión reciente |
PandaDoc | Análisis de empresas comparables | Costo o precio de la inversión reciente |
escalar | Análisis de empresas comparables | Costo o precio de la inversión reciente |
Study Space, Inc (EdVibe) | Análisis de empresas comparables | Costo o precio de la inversión reciente |
wanelo | Análisis de empresas comparables | Costo o precio de la inversión reciente |
The list of fully impaired investments, in which the Company still maintained ownership as of 31 December 2023, was as follows:
Empresa | Inversión | Año de |
Rollapp | 350,000 | 2018 |
Uso de millas/Ayuda WW/Source Inc. | 250,000 | 2018 |
favim | 300,000 | 2018 |
AdPulgadas | 1,000,000 | 2018 |
E2C | 124,731 | 2020 |
drupa | 225,000 | 2019 |
Virool/Turgo | 600,000 | 2017 |
Sixa | 900,000 | 2019 |
Bebidas habituales Co. | 300,000 | 2022 |
EstudiarGratis | 1,000,000 | 2022 |
wanelo | 355,000 | 2023 |
Juegos de cohetes (Legionfarm) | 1,650,000 | 2023 |
escalar | 1,999,999 | 2023 |
academia de cambio | 1,000,000 | 2023 |
Conte.ai/Postoplan | 1,784,185 | 2023 |
metrovelocidad | 1,000,000 | 2023 |
BaComida | 2,500,000 | 2023 |
Total | 15,338,915 |
|
Los activos financieros a valor razonable con cambios en resultados se miden a valor razonable y los cambios en el mismo se reconocen en resultados.
When measuring the fair value of a financial instrument, the Company uses relevant transactions during the year or shortly after the year end, which gives an indication of fair value and considers other valuation methods to provide evidence of value. The "price of recent investment" methodology is used mainly for venture capital investments, and the fair value is derived by reference to the most recent financing round or sizeable partial disposal. Fair value change is only recognised if that round or partial disposal involved a new external investor. From time to time, the Company may assess the fair value in the absence of a relevant independent transaction by relying on other market observable data and valuation techniques, such as the analysis of comparable companies and/or comparable transactions. The nature of such valuation techniques is highly judgmental and dependent on the market sentiment at the time of the analysis.
(i) Equity investments as at 31 December 2023:
empresa participada | Fecha de inversión inicial | Value at 1 Jan 2023, USD | Adiciones a inversiones de capital durante el período, USD | Conversions from loan notes and SAFEs, USD | Ganancia/pérdida por cambios en el valor razonable de las inversiones de capital, USD | Enajenaciones, USD | Valor al 31 de diciembre de 2023, USD | Fully diluted equity stake owned |
wanelo | 21.11.2011 | 602,447 | - | - | (602,447) | - | - | <5% |
Backblaze | 24.07.2012 | 22,992,931 | - | - | 5,361,765 | (2,344,253) | 26,010,443 | 5?10% |
Remoto.it | 13.06.2014 | 131,200 | - | - | - | - | 131,200 | <5% |
Bolt | 15.09.2014 | 69,756,984 | - | - | 2,424,114 | - | 72,181,098 | <5% |
PandaDoc | 11.07.2014 | 10,844,468 | - | - | (2,830,644) | - | 8,013,824 | <5% |
Full Contact | 11.01.2018 | 244,506 | - | - | - | - | 244,506 | <5% |
Scentbird | 13.04.2015 | 6,590,954 | - | - | 418,646 | - | 7,009,600 | <5% |
Trabajoiz | 16.05.2016 | 3,971,659 | - | - | - | - | 3,971,659 | <5% |
Hugo | 19.01.2019 | 3,255,052 | - | - | (40) | (1,559,614) | 1,695,398 | <5% |
Ciencia MEL | 25.02.2019 | 905,656 | - | - | - | - | 905,656 | <5% |
Qumatá | 06.06.2019 | 1,818,822 | - | - | (909,411) | - | 909,411 | <5% |
eAgrónomo | 31.08.2018 | 454,678 | - | - | (37,465) | - | 417,213 | <5% |
Juegos de cohetes (Legionfarm) | 16.09.2019 | 200,000 | - | - | (200,000) | - | - | <5% |
maderero | 05.12.2019 | 213,520 | - | - | 7,420 | - | 220,940 | <5% |
Etiqueta de clase | 03.02.2020 | 200,000 | - | 200,000 | (101,965) | (298,035) | - | <5% |
Club de dinero 3S | 07.04.2020 | 14,090,596 | - | - | 3,016,809 | - | 17,107,405 | 10?15% |
entrevista | 21.09.2020 | 812,730 | - | - | 47,796 |
| 860,526 | <5% |
Mentor virtual (bien) | 12.11.2020 | 772,500 | - | - | - | - | 772,500 | <5% |
novakid | 13.11.2020 | 2,949,855 | - | - | - | - | 2,949,855 | <5% |
MTL Financiero (OutFund) | 17.11.2020 | 2,565,918 | - | - | 150,899 | - | 2,716,817 | <5% |
escalar | 15.08.2019 | 1,378,282 | - | - | (1,378,282) | - | - | 5?10% |
atención | 21.08.2019 | 2,873,884 | - | - | - | - | 2,873,884 | <5% |
Siénte | 13.08.2020 | 3,653,220 | - | - | 214,842 | - | 3,868,062 | 10?15% |
Aficionado | 18.09.2019 | 1,795,680 | - | - | - | - | 1,795,680 | 5?10% |
Mirada 3D | 03.03.2021 | 500,000 | - | - | - | - | 500,000 | <5% |
FemTech | 30.03.2021 | 810,606 | 55,084 | - | 51,017 | - | 916,707 | 5?10% |
Muncher | 23.04.2021 | 3, 707,395 | - | 2,000,000 | (2,853,697) | - | 2,853,698 | 5?10% |
escritura cibernética | 20.05.2021 | 975,741 | 100,000 | - | - | - | 1,075,741 | <5% |
Outvio | 22.06.2021 | 533,800 | - | - | 18,550 | - | 552,350 | <5% |
colectivamente | 07.06.2023 | - | - | 6,449,328 | - | - | 6,449,328 | <5% |
VertoFX | 16.07.2021 | 1,132,999 | - | - | - | - | 1,132,999 | <5% |
academia de cambio | 02.08.2021 | 330,000 | - | - | (330,000) | - | - | |
EstateGuru | 06.09.2021 | 800,700 | - | - | 27,825 | - | 828,525 | <5% |
Orgullosamente | 09.09.2021 | 1,800,000 | - | - | - | - | 1,800,000 | <5% |
Empleos de Sonic | 15.09.2021 | 620,009 | - | - | 283,666 | - | 903,675 | <5% |
EdVibe (Espacio de estudio, Inc) | 02.11.2021 | 750,000 | - | - | - | - | 750,000 | 5?10% |
1Fit (Alippe, Inc) | 24.12.2021 | 500,000 | - | - | 1,080,320 | - | 1,580,320 | <5% |
agendapro | 03.09.2021 | 515,000 | - | - | 395,609 | - | 910,609 | <5% |
lavadero | 28.01.2022 | 1,203,801 | - | 601,950 | 993,810 | - | 2,799,561 | <5% |
Mi dispositivo Inc. | 30.11.2021 | - | - | 1,789,241 | - | - | 1,789,241 | 5?10% |
SOAX | 21.01.2022 | 4,000,000 | - | - | - | - | 4,000,000 | 5?10% |
Spin.ai | 17.12.2018 | 964,102 | - | - | - | - | 964,102 | <5% |
Total |
| 172,219,695 | 155,084 | 11,040,519 | 5,249,137 | (4,201,902) | 184,462,533 |
|
(ii) Convertible loan notes as at 31 December 2023:
empresa participada | Fecha de inversión inicial | Value at 1 Jan 2023, USD | Adiciones a inversiones en pagarés convertibles durante el período, USD | Conversiones a acciones, USD | Gain/loss from changes in fair value of convertible loan notes, USD | Enajenaciones, USD | Valor al 31 de diciembre de 2023, USD |
¡Compártelo! | 26.03.2013 | 570,030 | - | - | - | - | 570,030 |
Conte.ai/ Postoplan | 08.12.2020 | 1,628,090 | - | - | (1,628,090) | - | - |
metrovelocidad | 16.07.2021 | 1,000,000 | - | - | (1,000,000) | - | - |
MedVidi | 27.09.2021 | 1,030,000 | - | - | - | - | 1,030,000 |
lavadero | 21.11.2022 | 601,950 | - | (601,950) | - | - | - |
Total |
| 4,830,070 | - | (601,950) | (2,628,090) | - | 1,600,030 |
(iii) SAFEs as at 31 December 2023:
empresa participada | Fecha de inversión inicial | Value at 1 Jan 2023, USD | Adiciones a inversiones SAFE durante el período, USD | Conversiones a acciones, USD | Ganancia/pérdida por cambios en el valor razonable de inversiones SAFE, USD | Enajenaciones, USD | Valor al 31 de diciembre de 2023, USD |
Cheetah (Go?X) | 29.07.2019 | 350,000 | - | - | (175,000) | - | 175,000 |
Sabiamente (Reorientar) | 24.09.2019 | 1,600,000 | - | - | - | - | 1,600,000 |
Juegos de cohetes (Legionfarm) | 17.09.2019 | 1,450,000 | - | - | (1,450,000) | - | - |
Etiqueta de clase | 03.02.2020 | 200,000 | - | (200,000) | - | - | - |
moeco | 08.07.2020 | 500,000 | - | - | - | - | 500,000 |
aurabeat | 03.05.2021 | 1,030,000 | - | - | - | - | 1,030,000 |
Synder (CloudBusiness Inc) | 26.05.2021 | 2,060,000 | - | - | 1,368,571 | - | 3,428,571 |
colectivamente | 13.07.2021 | 2,060,000 | - | (6,449,328) | 4,389,328 | - | - |
OneNotario (Adorum) | 01.10.2021 | 500,000 | - | - | - | - | 500,000 |
BaComida | 05.11.2021 | 2,500,000 | - | - | (2,500,000) | - | - |
Educar en línea | 16.11.2021 | 1,000,000 | - | - | 1,847,458 | - | 2,847,458 |
Mi dispositivo Inc. | 30.11.2021 | 1,050,000 | - | (1,789,241) | 739,241 | - | - |
Móvil (Lulu Systems, Inc) | 09.12.2021 | 1,030,000 | 200,000 | - | 470,000 | - | 1,700,000 |
Muncher | 13.12.2021 | 2,000,000 | - | (2,000,000) | - | - | - |
Barrio | 12.01.2022 | 880,770 | 165,405 | - | 30,909 | - | 1,077,084 |
1Fit (Alippe, Inc) | 19.04.2023 | - | 500,000 | - | - | - | 500,000 |
Gameon | 19.06.2023 | - | 1,030,000 | - | - | - | 1,030,000 |
Phoenix | 29.05.2023 | - | 515,000 | - | - | - | 515,000 |
montera | 02.08.2023 | - | 721,000 | - | - | - | 721,000 |
Rain Technologies Inc. | 17.10.2023 | - | 1,000,000 | - | - | - | 1,000,000 |
Praktika.ai | 29.12.2023 | - | 400,000 | - | - | - | 400,000 |
Total |
| 18,210,770 | 4,531,405 | (10,438,569) | 4,720,507 | - | 17,024,113 |
11. Cuentas comerciales y otras cuentas por cobrar
Al 31 de diciembre de 2023 | Al 31 de diciembre de 2022 | |
USD | USD | |
Prepagos | 60,914 | 42,550 |
Otros ingresos | 18,145 | 1,219,506 |
Intereses por cobrar de pagarés | 66,917 | 113,214 |
Intereses por cobrar en depósito | 5,932 | 7,541 |
| 151,908 | 1,382,811 |
The fair value of trade and other receivables approximate to their carrying amounts as presented above.
Other receivables as of 31 December 2023 represented amounts due from the disposed investment in Classtag.
12. Efectivo y equivalentes de efectivo
The cash and cash equivalents as at 31 December 2023 included cash and cash equivalents in banks and brokers.
Cash and cash equivalents comprised the following:
Al 31 de diciembre de 2023 | Al 31 de diciembre de 2022 | |
USD | USD | |
letras del Tesoro | 1,732,693 | - |
Depósitos | 1,164,380 | 2,502,188 |
Saldos bancarios | 3,693,862 | 7,600,495 |
| 6,590,935 | 10,102,683 |
La siguiente tabla representa un análisis de efectivo y equivalentes por designación de agencia calificadora con base en la calificación de Moody`s o su equivalente:
Al 31 de diciembre de 2023 | Al 31 de diciembre de 2022 | |
Saldos bancarios | USD | USD |
calificación C | 119,041 | 7,587,687 |
Caa2 rating | 3,566,010 | - |
Calificación Baa3 | 1,736 | 2,447 |
No se ha clasificado | 7,075 | 10,361 |
| 3,693,862 | 7,600,495 |
Al 31 de diciembre de 2023 | Al 31 de diciembre de 2022 | |
Depósitos | USD | USD |
Clasificación A1 | 1,164,380 | 2,502,188 |
| 1,164,380 | 2,502,188 |
Al 31 de diciembre de 2023 | Al 31 de diciembre de 2022 | |
letras del Tesoro | USD | USD |
Calificación AAA | 1,732,693 | - |
| 1,732,693 | - |
13. Comerciales y otras cuentas a pagar
Al 31 de diciembre de 2023 | Al 31 de diciembre de 2022 | |
USD | USD | |
Sueldos pagaderos | 16,000 | 81,838 |
Honorarios de los directores a pagar | 12,622 | 66,100 |
Bonos a pagar | 1,638,709 | 4,817,785 |
Comercio a pagar | 10,156 | 7,702 |
Otra responsabilidad actual | 162 | 3,307 |
Acumulaciones | 40,167 | 35,367 |
| 1,717,816 | 5,012,099 |
El valor razonable de las cuentas comerciales y otras cuentas por pagar se aproxima a sus valores en libros como se presenta anteriormente.
14. Capital social
On 31 December 2023 the Company had an authorised share capital of unlimited ordinary shares of no par value and had issued ordinary share capital of:
| Al 31 de diciembre de 2023 | Al 31 de diciembre de 2022 |
| USD | USD |
Capital social | 53,283,415 | 53,283,415 |
El capital emitido comprende: | Número | Número |
Acciones ordinarias totalmente pagadas | 31,451,538 | 31,451,538 |
Numero de veces compartido | Numero de veces compartido | |
Saldo al 31 de diciembre de 2022 | 31,451,538 | 31,451,538 |
Emisión de acciones ordinarias | - | - |
Saldo al 31 de diciembre de 2023 | 31,451,538 | 31,451,538 |
15. La gestión del capital
La estructura de capital de la Compañía consiste en capital social, reservas y utilidades retenidas.
La política de la Junta es mantener una sólida base de capital para mantener la confianza de los inversionistas y del mercado y permitir el desarrollo futuro exitoso del negocio.
La Compañía no está sujeta a requisitos de capital impuestos externamente.
No se realizaron cambios en los objetivos, políticas y procesos de gestión de capital durante el año.
16. Gestión de riesgos financieros e instrumentos financieros
La Compañía ha identificado los siguientes riesgos derivados de sus actividades y ha establecido políticas y procedimientos para gestionar estos riesgos. Los principales activos financieros de la Compañía son efectivo y equivalentes de efectivo, inversiones en acciones y pagarés convertibles por cobrar.
Riesgo crediticio
As at 31 December 2023 the largest exposure to credit risk related to convertible notes receivable and SAFEs (US$18,624,143, as at 31 December 2022 ? US$23,040,840), and cash and cash equivalents (US$6,590,935, as at 31 December 2022 ? US$10,102,683).
The Company's exposure to credit risk is influenced mainly by the individual characteristics of each investee company. The credit quality of investments in equity shares and convertible promissory notes is based on the financial performance of the individual portfolio companies. For those assets that are not impaired it is believed that the risk of default is small and that capital repayments and interest payments will be made in accordance with the agreed terms and conditions of the Company's investment. In other cases, an appropriate asset impairment is recorded to reflect the fair value. The exposure to credit risk is approved and monitored on an on?going basis individually for all significant investee companies.
The exposure risk is reduced because the counterparties are banks with high credit ratings ("BBB+" Liquidity banks) assigned by international credit rating agencies. The Directors intend to continue to spread the risk by holding the Company's cash reserves in more than one financial institution.
(i) Exposición al riesgo de crédito
The carrying amount of the following assets represents the maximum credit exposure. The maximum exposure to credit risk as at 31 December was as follows:
Al 31 de diciembre de 2023 | Al 31 de diciembre de 2022 | |
USD | USD | |
Efectos convertibles por cobrar y cajas fuertes | 18,624,143 | 23,040,840 |
Cuentas comerciales y otras cuentas por cobrar | 151,908 | 1,382,811 |
Efectivo y equivalentes de efectivo | 6,590,935 | 10,102,683 |
| 25,366,986 | 34,526,334 |
Riesgo de mercado
The Company's financial assets are classified as financial assets at FVPL. The measurement of the Company's investments in equity shares and convertible notes is largely dependent on the underlying trading performance of the investee companies, but the valuation and other items in the financial statements can also be affected by fluctuations in interest and currency exchange rates.
Riesgo de tipo de interés
Changes in interest rates impact primarily cash and cash equivalents by changing either their fair value (fixed rate deposits) or their future cash flows (variable rate deposits). Management does not have a formal policy of determining how much of the Company's exposure should be to fixed or variable rates. At 31 December 2023 the Company had cash deposit of USD 4,730,390 (as at 31 December 2022 ? US$2,502,188), earning a variable rate of interest. The Board of Directors monitors the interest rates available in the market to ensure that returns are maximized.
Gestión del riesgo de tipo de cambio
La Compañía está expuesta a riesgos de tipo de cambio sobre inversiones y pagos de sueldos y remuneraciones de directores que están denominados en una moneda distinta a la moneda funcional de la Compañía. Las divisas que dan lugar a este riesgo son principalmente GBP y EUR. La exposición al riesgo de tipo de cambio al 31 de diciembre de 2023 es la siguiente:
Al 31 de diciembre de 2023 | Al 31 de diciembre de 2023 | Al 31 de diciembre de 2022 | Al 31 de diciembre de 2022 | |
GBP | EUR | GBP | EUR | |
Activos circulantes | ||||
Efectivo y equivalentes de efectivo | 84,373 | 8,775 | 171,705 | 177,998 |
Pasivo circulante |
|
|
|
|
Comerciales y otras cuentas a pagar | (15,162) | - | (14,861) | - |
Posición larga neta (corta) | 69,211 | 8,775 | 156,844 | 177,998 |
Moneda de exposición neta | 54,296 | 7,943 | 130,280 | 166,727 |
Moneda de exposición neta (asumiendo un movimiento del 10% en los tipos de cambio) | 62,290 | 7,897 | 141,160 | 160,198 |
Impacto en movimientos cambiarios en el estado de resultados integrales | 6,921 | 878 | 15,684 | 17,800 |
Los tipos de cambio del dólar estadounidense al 31 de diciembre eran los siguientes:
31/12/2023 | 31/12/2022 | |
Moneda |
|
|
Libras esterlinas | 1.2747 | 1.2039 |
Euro | 1.1047 | 1.0676 |
Este análisis asume que todas las demás variables, en particular las tasas de interés, permanecen constantes.
Valor razonable y gestión del riesgo de liquidez
El enfoque de la Compañía para administrar la liquidez es garantizar que siempre tendrá suficiente liquidez para cumplir con sus obligaciones a su vencimiento, tanto en condiciones normales como de tensión, sin incurrir en pérdidas inaceptables o arriesgar daños a la Compañía.
La Compañía tiene un bajo riesgo de liquidez debido al mantenimiento de instalaciones bancarias adecuadas, al monitorear continuamente los flujos de efectivo reales y al igualar los perfiles de vencimiento de los activos financieros y los pasivos corrientes.
As at 31 December 2023, the cash and equivalents of the Company were US$6,590,935. As at 31 December 2022, the cash and equivalents of the Company were US$10,102,683
Los siguientes son los vencimientos de los pasivos corrientes al 31 de diciembre de 2023:
Importe en libros | Dentro de un año | 2? 5 | Más de 5 años | |
USD | USD | USD | USD | |
Salarios | 16,000 | 16,000 | - | - |
Honorarios de los directores a pagar | 12,622 | 12,622 | - | - |
Bonos a pagar | 1,638,709 | 1,638,709 | - | - |
Comercio a pagar | 10,156 | 10,156 | - | - |
Otros pasivos corrientes | 162 | 162 | - | - |
Acumulaciones | 40,167 | 40,167 | - | - |
1,717,816 | 1,717,816 | - | - |
The following table analyses the fair values of financial instruments measured at fair value by the level in the fair value hierarchy as at 31 December 2023:
Nivel A1 | Nivel A2 | Nivel A3 | Total | |
USD | USD | USD | USD | |
Activos financieros | ||||
Activos financieros a FVPL | 26,010,444 | 96,422,492 | 80,653,740 | 203,086,676 |
| 26,010,444 | 96,422,492 | 80,653,740 | 203,086,676 |
17. Transacciones con partes relacionadas
Los Directores de la Compañía reciben honorarios y gratificaciones de la Compañía, cuyo detalle se encuentra en la Nota 6.
18. Eventos subsecuentes
In January 2024, TMT received a total additional US$1.5 million in dividends from Hugo, as part of the consideration for Hugo's disposal of its food delivery and quick commerce business in Central America to Delivery Hero completed in 2022.
TMT invested US$1,000,000 in Propertymate Inc., trading as NewHomesMate, a marketplace for newly built homes (www.newhomesmate.com).
TMT disposed a part of its shares in NASDAQ?traded Backblaze for a total net consideration of US$4.2 million.
19. Control
La Compañía no está controlada por ninguna de las partes. El detalle de los accionistas significativos se muestra en el Informe de Gestión.
RNS puede usar su dirección IP para confirmar el cumplimiento de los términos y condiciones, para analizar cómo interactúa con la información contenida en esta comunicación y para compartir dicho análisis de forma anónima con otros como parte de nuestros servicios comerciales. Para obtener más información sobre cómo RNS y la Bolsa de Valores de Londres utilizan los datos personales que nos proporciona, consulte nuestra Política de privacidad.