FY 2019 trading update Dutch Star Companies ONE
Dutch Star Companies ONE N.V. (Euronext - DSC1 / ISIN code NL0012747059) - Regulatory news
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Dutch Star Companies ONE N.V. ("DSCO"), a special purpose acquisition company, listed on Euronext Amsterdam (symbol: DSC1) that has announced on 9 January 2020 to pursue a business combination with CM.com B.V. (together with its subsidiaries, “CM.com”), today publishes its annual results 2019.
HIGHLIGHTS DSCO 2019DSCO and CM.com
CM.com B.V. a global Conversational Commerce platform that provides enterprises full-scale CPaaS (Communication Platform as a Service) services with integrated payment solutions announced that they had entered into a non-binding heads of agreement on 18 December 2019. This was followed by an announcement that DSCO and CM.com had reached an agreement for a business combination on 9 January 2020. The business combination is expected to become effective on 21 February 2020, subject to customary approvals having been obtained.
SUMMARY 2019 FY RESULTSDSCO
has suffered an after-tax loss of € 2,178,657 over the period of 1 January 2019 through 31 December 2019. DSCO has not recorded any operational revenues or cost. The result is attributable to the negative interest rates for large commercial deposits and for a large portion to the fair value recognition of the Warrant liabilities on DSCO’s balance sheet, which is expensed through the profit and loss. This Warrant expense is a non-cash item. Due to the negative interest, the money held in escrow and on the Company’s bank account marginally decreased towards € 55,039,075 at 31 December 2019.
P&L AND BALANCE SHEET DSCO 2019
An overview of the main financial statement of DSCO in 2019 is provided in the following 4 tables:
Table 1. Statement of profit and loss and other comprehensive income
Table 2. Statement of financial position
Table 3. Statement of changes in equity
Table 4. Statement of cash flows
For more information, download full press release/report below:
Dutch Star Companies ONE N.V. (the Company or DSCO) is a special purpose acquisition company incorporated on 3 January 2018, under the laws of the Netherlands as a public limited liability company (naamloze vennootschap) for the purpose of acquiring a minority stake in a business with principal business operations in Europe, preferably in the Netherlands.