Our opinion on the current state of NUMERAL(XII)Previously known as "Go Life International" (GLI), Numeral is a company listed in Mauritius with a secondary listing on the JSE's Alt-X market. Its focus is on "nutraceuticals," which are products associated with alternative medicine. These products claim to offer health benefits but are not pharmaceuticals. The company was formed to acquire and exploit nutraceutical-producing companies in South Africa and currently owns Go Life Health Products and Gotha Health Products.
In its results for the six months to 31st August 2023, the company reported zero revenue and a headline loss per share of 0.0051c (US), compared with a loss of 0.0044c in the previous period. The company noted that its asset base had been completely eroded, necessitating a full write-off of all underlying investments totaling $34,851,774 in 2020. The recapitalization process was completed in the first quarter of 2023, and the board approved subscription agreements for the issue of 465,000,000 new shares, of which 132,500,000 were treasury shares recovered above.
In its financials for the nine months to 30th November 2023, the company again reported zero revenue and a headline loss per share of 0.07c (US). The company made a loss of $80,777 in the nine months and has a negative net asset value (NAV). Furthermore, the company has a history of delaying the publication of its financials. Until Numeral can generate revenue, increase the free float, and improve the tradability of its shares, it is not considered a practical investment for private investors.
On 6th November 2023, the company's board announced its proposal to change the company's name to "Numeral Limited" from "Go Life International." In a trading statement for the six months to 31st August 2024, the company estimated that headline earnings per share (HEPS) would increase by 292%.
