Publication of the semi-annual report for the first half of 2019

On September 19, the extended consolidated semi-annual report for the first half of 2019 was published.

In the first half of 2019, the Capital Group – INC S.A. incurred a net loss of PLN 0.6 million. Carpathia Capital S.A., being an investment entity in the Group,  ended the first half of the year with a net profit of PLN 1.255 million.

At the end of the first half of the year, the Capital Group had at Its disposal PLN 4.572 million cash, with liabilities of PLN 2.911 million.

The equity of Capital Group  INC S.A. at the end of the first half of 2019 amounts to PLN 23.376 million. Carpathia Capital obtained an entry in the records of Alternative Investment Companies operated by the Polish Financial Supervision Authority and on  September 17, 2019 it debuted on the NewConnect market – polish alternative market.

As at the date of this report, INC S.A (together with the Brokerage House)supports several entities , which are during or before the share issue and are heading to the NewConnect market.. Finally, the success of the projects depends in particular on the ability to raise capital by these companies, and this in turn largely depends on the economic situation on the capital markets. . In March 2019, INC Brokerage House launched the crowconnect.pl public offer platform. It is the first crowdinvesting platform run by a brokerage house in Poland. It uses  the liberalization of regulations in the field of public offerings worth up to EUR 1 million, which entered into force in 2018. Activities in the fintech segment require further intensive work, as well as expenditure on the development and promotion of a new product. It does not automatically mean a success. In particular, the general interest of potential investors in the capital market and investing in shares is the key. It also means operating on a difficult market in which unlicensed entities operate, more or less violating the law, but not incurring increased operating costs or not obliged to meet significant regulatory requirements.  However, equity crowdfunding/ crowdinvesting is becoming increasingly popular in the world, therefore the launch of such a platform by INC Brokerage House gives the opportunity to enter into the dominant market trend and creates opportunities for significant benefits in the future.

  1. Extended Consolidated half-year report for 2019