TIDMMUSH 
 
30 August 2023 
 
Oscillate PLC 
 
("Oscillate" or the "Company") 
 
Interim Results for the Six Months Ended 31 May 2023 
 
I am pleased to present the unaudited interim results for Oscillate plc (AQSE: 
MUSH) for the period ending 31 May 2023. 
 
Director's Statement 
 
During the period the Company made a loss of £508,310 compared with a loss of 
£348,033 for the same period last year. The loss is mainly due to revaluations 
of investments.  The Board has been working diligently to reduce the 
administrative costs of the Company and these were £71,482 compared to £104,040 
for the comparable period.  As at 31 May 2023, the Company's cash position was 
£1,168,956 (2022: £1,908,336). 
 
During the period end, the Company signed a conditional Heads of Term Agreement 
to acquire Hi55 Ventures Limited, a UK FinTech platform. Although the Board was 
excited about the prospect of delivering a reverse takeover transaction, 
following our internal diligence process, the Board identified fundamental 
reasons why we believed it was not in the best interests of the Company to 
proceed with the transaction. As a result, the proposed transaction was 
discontinued on 23 March 2023. No material costs were incurred in the evaluation 
of the terminated transaction. 
 
Post period events 
 
Since the end of the reported period, the Company announced that, in line with 
its strategic options, it had disposed of 21,312,460 ordinary shares in Igraine 
Plc for gross cash consideration of £66,068. 
 
On 14 August 2023, LaunchMyCareer Holdings Plc ("LMCH"), informed its 
shareholders of its decision to present a winding-up petition to the court. 
Furthermore, LMCH's wholly owned subsidiary, LaunchMyCareeer Limited ("LMC") has 
also commenced a voluntary winding-up process. In July 2022, Oscillate announced 
that it had purchased 2,500,000 warrants to subscribe for shares in LMCH, with 
an exercise price of 1p per share. 
 
On 29 August 2023 the Company's AGM was held. As well as the ordinary business 
of the meeting, it included resolutions which would allow shareholders to 
consider a members' voluntary liquidation which would return cash and other 
assets to shareholders. Shareholders voted against these resolutions, reflecting 
their preference for the Company to continue to pursue the implementation of its 
investment strategy. 
 
The interim results to 31 May 2023 have not been reviewed by the Company's 
auditors. 
 
Fungai Ndoro 
Director, Oscillate plc 
 
The Directors of the Company accept responsibility for the content of this 
announcement. 
 
Enquiries: 
 
Company 
 
Oscillate PLC 
John Treacy 
ir@oscillateplc.com 
https://oscillateplc.com 
 
Corporate Advisor 
 
Peterhouse Capital Limited 
Guy Miller & Heena Karani 
Telephone: 020 7220 9796 
 
Statement of Comprehensive Income for the 6 months ended 31 May 2023 
 
                                    6 months to    Year ended 30    6 months to 
                                    31 May 2023    November 2022    31 May 2022 
                                      Unaudited          Audited      Unaudited 
                                              £                £              £ 
Administrative expenses                (71,482)        (380,386)      (104,040) 
Gains / (Losses) on investments at    (442,400)          942,463      (243,993) 
fair value through profit and loss 
Profit on sale of investment                  -            8,437              - 
Operating Profit / (Loss)             (513,882)          570,514      (348,033) 
 
Interest income                           5,572            1,852              - 
                                      (508,310)          572,366      (348,033) 
 
Taxation                                      -        (235,616)              - 
 
Profit / (Loss) for the period        (508,310)          336,750      (348,033) 
 
Basic earnings per share                  (0.5)             0.15          (0.3) 
Diluted earnings per share                (0.5)             0.15          (0.3) 
 
Statement of Financial Position for the 6 months ended 31 May 2023 
 
               6 months to    Year ended 30    6 months to 31 May 2022 
               31 May 2023    November 2022                  Unaudited 
                 Unaudited          Audited 
                         £                £                          £ 
Assets 
Non-current 
assets 
Investments         14,700          264,700                    319,700 
                                    264,700                    319,700 
 
Current 
assets 
Investments      2,032,051        2,221,952                    380,896 
Trade and            6,867            9,780                    228,377 
other 
receivables 
Cash and cash    1,168,956        1,230,961                  1,908,336 
equivalents 
                 3,207,874        3,462,693                  2,517,609 
 
Total assets     3,222,574        3,727,393                  2,837,309 
 
Current 
liabilities 
Trade and         (35,575)         (32,084)                   (62,399) 
other 
payables 
                  (35,575)         (32,084)                   (62,399) 
 
Deferred tax     (235,616)        (235,616)                          - 
liability 
 
Net current      2,936,683        3,194,993                  2,455,210 
assets 
 
Net assets       2,951,383        3,459,693                  2,774,910 
 
Capital and 
reserves 
Share capital    1,228,309        1,228,309                  1,228,309 
Share premium    4,705,050        4,705,050                  4,705,050 
Other               29,753           29,753                     29,753 
reserves 
Retained       (3,011,729)      (2,503,419)                (3,188,202) 
earnings 
Total equity     2,951,383        3,459,693                  2,774,910 
 
Statement of Changes in Equity for the 6 months ended 31 May 2023 
 
                   Share      Share     Other       Profit          Total 
                 capital    premium  reserves     and loss 
                                                   reserve 
                       £          £         £            £              £ 
 
As at 1        1,228,309  4,705,050    29,753  (2,840,169)  3,122,943 
December 2021 
 
Loss for the           -          -         -    (348,033)  (348,033) 
period 
Total                  -          -         -    (348,033)  (348,033) 
comprehensive 
income 
Balance at 31  1,228,309  4,705,050    29,753  (3,188,202)  2,774,910 
May 2022 
 
As at 1        1,228,309  4,705,050    29,753  (2,840,169)  3,122,943 
December 2021 
 
Profit for             -          -         -      336,750    336,750 
the year 
Total                  -          -         -      336,750    336,750 
comprehensive 
income 
Balance at 30  1,228,309  4,705,050    29,753  (2,503,419)  3,459,693 
November 2022 
Profit for             -          -         -    (508,310)  (508,310) 
the period 
Total                  -          -         -    (508,310)  (508,310) 
comprehensive 
income 
Balance at 31  1,228,309  4,705,050    29,753  (3,011,729)  2,951,383 
May 2023 
 
 
This information was brought to you by Cision http://news.cision.com 
https://news.cision.com/oscillate-plc/r/interim-results-for-the-six-months-ended-31-may-2023,c3826701 
 
 
END 
 
 

(END) Dow Jones Newswires

August 30, 2023 10:38 ET (14:38 GMT)

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