I am pleased to present the financial results for Alpha Prospects Limited for the 12 month period ending 28 February 2021.
The comprehensive loss for the period was £2,813 (2020: £27,384). The results were in line with management expectations. During the period under review the net asset value of the Company increased by £37,940, compared with an increase of £598,098 during the twelve month period ended 29 February 2020.
In past years Alpha had invested through acquisition of shares, stakes in a range of companies across several sectors. However, in recent times the Company has focussed on the energy sector and in particular sought “green energy” opportunities; that is investment in and support of energy related companies that seek to participate in activities where the primary goal is reduce emissions of gases harmful to the environment.
During the period under review the Company has issued a total of 554,545 Ordinary Shares at 5.5p. Warrants totalling 1,511,360 have been exercised at a price of 2p.
Between 1st March and 31st August 2021, 765,076 shares have been issued at 5.5p together with a further 346,818 warrants at 2p.
Shareholders are reminded that 34 million warrants remain on offer at an issue price of 2.0p, this is a 64% discount to the last traded price.
Active Energy Group
As reported last year, in November 2019, the Company subscribed for £100,000 CULs in Active Energy Group Plc. In February 2021 these were exercised and the Company has received 11,201,000 Active Energy Group ordinary shares.
Alpha current holds investments in 11 different companies, most of these are passive longer term investments. However Alpha does hold a majority interest in two energy related companies – each at different ends of the energy development cycle:
- Plasmoid Power – a green engine. During the past year the engine has been tested in Thailand, the UK and Australia for both fuel savings and emissions, these tests have produced very satisfactory results. In September 2021 the intellectual property rights were added to the IPBank Global database.
- Tasmanian Oil and Gas Australia – this company was originally established to develop known oil and gas prospects in Tasmania. Development has been delayed primarily due the constraints put in place relating to the global pandemic. Technical information and samples have been secured. This project will be reactivated at the earliest opportunity. Recently there have been significant increases in the price for natural gas in Australia, thus increasing the potential value of this investment.
As an investment company Alpha is reliant on external funding to meet expenses and continue its plan to be at the front edge of the development of new energy sources. Again the effect of the COVID-19 pandemic on both local and international travel has significantly impacted fund raising endeavours. Nevertheless, the company has raised sufficient new capital and continues as a going concern.
With the world desperate to find solutions to solve the climate crisis, the company sees that the new invention of plasmoid power together with its numerous applications provides a real opportunity to reduce harmful emissions from internal combustion engines and at the same time provide significant fuel savings.
This is a compelling investment proposition and Alpha is currently in discussions with several International Institutions and Sovereign Wealth Funds regarding utilising its unique technology platform. It is attracting a lot of interest from those, in particular, that specialise in investing in ESG projects. The Board hope to finalise these funding arrangements in the current financial year.
The development of a new energy form is clearly a long term proposition. In order to provide an opportunity for shareholders to realise value at a time of their choosing the Company has resolved to reverse its shareholding interest of these two majority owned ventures into US OTC markets quoted companies.
Discussions have been initiated with US stock brokers and it is expected that further details will be announced during the next twelve months.
Finally, on behalf of the Board I would like to take this opportunity of thanking the Company’s advisors for their support and assistance throughout the year.
Dr. Steven Freudmann