Oxbridge Online has posted an interim headline loss of 1.69c, an improvement on the 2.01c a share loss a year earlier.
The company, which will be renamed Electronic Lottery Services, is set to become a subsidiary of JSE-listed The Internet Gaming Corporation (Igaming).
An operating loss of R1.8 million before interest was incurred on turnover of R111 000 in the six months to 31 December 2000, compared with a R2.35 million operating loss on turnover of R601 000 in the year-earlier period.
An exceptional item of R9.61 million resulted in a net attributable loss of R11.48 million, compared with a loss of R4.43 million the previous year.
The balance sheet shows that current liabilities amounted to R4.34 million at the end of the trading period, compared with current assets of R178 000.
Oxbridge, formerly a motor industry e-commerce company, announced in January that it would issue 80 million shares at 10c each to acquire two Igaming companies - The Internet Lottery and Internet Bingo, resulting in a change of control at Oxbridge.
The deal is subject to the approval of the JSE`s listings division and of Oxbridge shareholders.
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