Right of Reply Announces the Launch of a New Website and an Update on the 31 March 2018 Financial Results

LONDON, April 18, 2018 /PRNewswire/ --

New Website 

Right of Reply Ltd. ("Right of Reply" or "ROR"), a company providing technical solutions to the problems of Cyber Defamation and Fake News is pleased to announce the launch of a new website -http://www.rightofreply.news.

The website has information and videos about ROR's products and services. The "Investors" page contains useful information available to our current shareholders and future investors participating on the IPO listing. The investor section will have all of the available timely information and documents with complete and full transparency. This transparency is a key value of ROR and is at the heart of not only our products but also of our management, shareholders and investors.

Consolidated Financial Group results 

ROR is also pleased to announce the first unaudited consolidated Financial results for 31 March 2018.

• Revenue increased from zero at 31 December 2017 to $945,073 for the first quarter 2018, representing revenues of $3,780,000 on a full yearly basis.
• Our net shareholder equity has increased from $145,366 at 31 December 2017 to $3,045,000 at 31 March 2018.

Thomas Brooks, CEO, Right of Reply Ltd.: "We are very pleased with the progress made including the new acquisitions and their subsequent integration into Right of Reply. These achievements are especially remarkable as they occur in parallel with the preparation of our IPO. We are coming to the market as the need for real solutions to cyber defamation and fake news is exceptionally growing. The new combined team is laser focused on building and deploying the best tools possible to allow truth to be distinguishable in the digital world."

   
    RIGHT OF REPLY                                     ROR CONSOLIDATED
    Unaudited Balance sheet                                  03.31.2018
                                                              $
    ASSETS
    FIXED ASSETS
    Intangible fixed assets
    Industrial patent and intellectual property rights           49,619
    Intangibles in progress and payments on account              11,618
    Tangible fixed assets
    Other tangible assets                                        61,577
    Investment
    Other receivables                                             4,425
    Goodwill - Non controlling interest                       2,271,667
                                    TOTAL FIXED ASSETS        2,398,906

    CURRENT ASSETS
    Receivables
    Other                                                       367,093

    Cash at bank and on hand
    Bank deposits                                               279,000
                                  TOTAL CURRENT ASSETS          646,093

                                          TOTAL ASSETS        3,045,000

    LIABILITIES AND SHAREHOLDERS' EQUITY

    SHAREHOLDERS' EQUITY
    Share Capital                                                93,211
    Reserve                                                   1,528,757
    Share premium reserve                                        27,270
    Additional paid in capital                                2,476,321
    Retained earnings (accumulated deficit)                 (2,109,344)
    Net income (loss) for the accounting period               (329,225)
    TOTAL SHAREHOLDERS' EQUITY                                1,686,990

    PAYABLES
    Suppliers
    - amounts due within 12 months                              973,654
    Bank                                                         10,231
    Tax                                                          97,426
    Other
    - amounts due within 12 months                              276,698
                                                              1,358,009

    TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY                3,045,000

   
    RIGHT OF REPLY                       ROR CONSOLIDATED
    Unaudited Income Statement                 03.31.2018
                                                $

    Sales Revenues                                945,073
    Others                                             43
    TOTAL REVENUE                                 945,117

    OPERATING COSTS
    Service costs                               1,269,960
    TOTAL COSTS                                 1,269,960

    FINANCIAL INCOME AND EXPENSES
    Interest and other financial charges
    - other                                         3,477

    PROFIT BEFORE TAXES                         (328,320)

    INCOME TAXES                                      777

    PROFIT/LOSS FOR PERIOD                      (329,098)

    Exchange Rates                                  (128)

    PROFIT/LOSS FOR PERIOD                      (329,225)

For more information, please contact [email protected].

SOURCE Right of Reply