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On 22 January 2019, Millennium Limited (ASX:MHD) has announced its Quarterly Consolidated statement of cash flows. As at 31 December 2018, the Companyâs cash balance was AUD 41,859, representing a decrease from the cash balance of AUD 74,888 from the previous quarter.
Millennium Limited (formerly Yanghao International Limited) is an Australian listed company engaged in the manufacturing, Research & Development, Trading, and real estate business.Â
The Company mentioned that they continue to receive strong support from major shareholders and directors in the matter of cash injection and potential further capital raising. It is anticipated that the financial position of the company will improve as the company deploy its new business activities in the new year.
Quarterly Update: The companyâs receipts from customers for the Q2 stood at $75,000, and till a year to date (6 months) it amounted to $124,000. The companyâs Administration and corporate costs for Q2 stood at $(91,000), and till a year to date it amounted to $(247,000). The companyâs reported Interest and other costs of finance for the Q2 stood at $(17,000), and till a year to date it amounted to $(34,000).
Till year to date, the companyâs proceeds from borrowings stood at $150,000, and the company did it on Q1.
For the next quarter, the company is anticipating posting Administration and corporate costs amounting to $70,000.
On 8 November 2018, the company had posted the results of Annual General Meeting. On the same date, the company had re-elected Ms. Yan Yang and Ms. Ying Liu Huang as a director of the company. Ms. Yan Yang got 97,452, 105 votes in favor and Ms. Ying Liu Huang got 97,552,105 votes in favor.
On the same date, the company has also announced its financial performance review for the year. The Companyâs net loss for the year stood at $141,306 in FY18, (over the prior year which was $8,928,465). In FY18, $200,249 revenue was derived from the rental income of existing leases from the property acquired in May 2017. Within the same year, the company realized a gain of $385,300 which was derived from the revaluation of the investment property. The diluted loss per share for the year stood at 0.10 cents per share. On Balance Sheet front, Net Assets for the year stood at $374,480 in FY18, (over the prior year which was $496,079). As at 30 June 2018, the company had cash and cash equivalent of $48,803 (over the prior year which was $34,342).
Currently, the companyâs management team and board have been focusing on rebuilding the companyâs business operations through business expansion and new investments throughout the year.
Stock performance: The shares of Millennium Limited are trading flat at A$0.046 (as at 1:35 PM, 23 January 2019). The companyâs outstanding shares stand at circa 138.06 Million. In the time span of the previous six and three months, the stock delivered the returns of 31.43% and 21.05%, respectively. During the last one month, MHD delivered the positive return of 2.22%.
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