Draganfly books still stagnant as it looks for investments

31st Jan 2017 16:19

(ShareCast News) - Draganfly Investments posted its interim results for the six months to 31 October on Tuesday - a period in which it made negligible turnover of £0.007m.The AIM-traded company's administrative expenses for the half-year were £0.12m, leading to an operating loss and a loss on ordinary activities of £0.11m, compared to £0.04m at the same time in 2015.During the period, the company did raise £0.27m through two placings at a subscription price of 0.80p per ordinary share."In the announcement of the first placing on 24 June 2016, the company stated that it was actively investigating potential acquisitions and that the company would use the funds raised in order to fund professional costs associated with making such an acquisition, together with operating costs," Draganfly's board said in a statement."The accounts reflect such professional costs incurred by the company during the period ended 31 October 2016."Draganfly looks forward to providing shareholders with more information regarding potential acquisitions at the appropriate juncture."The board did caution that no assurances could be given that any potential acquisitions which Draganfly was currently contemplating would be successfully completed.