TIDMCCP 
 
Crossword Cybersecurity plc: Final results 
FOR:  CROSSWORD CYBERSECURITY PLC 
 
GXG SYMBOL:  CCP 
 
April 21, 2015 
 
Crossword Cybersecurity plc: Final results 
 
LONDON, UNITED KINGDOM--(Marketwired - April 21, 2015) - 
 
Statement from the board 
 
Crossword Cybersecurity plc (GXG:CCP) is a cyber security focused technology transfer business. We work with 
universities to identify leading edge research in cyber security and establish intellectual property (IP) and 
technology transfer deals with the university to commercialise their research. This will typically involve some 
development work to take their largely theoretical research and produce a practical software solution. 
 
Over the past year Crossword has assembled a strong team consisting of IP transfer and cyber security 
specialists. We have established a software development subsidiary based in Krakow, Poland. We have analysed 
the cyber security research currently being done and have identified over 400 cyber security research projects 
across the UK and parts of Europe, representing over GBP 200m of research grants since 2007. This information 
has been catalogued and captured in Crossword's searchable research database along with the identity of the 
team conducting the research, the lead Professors and the institution where the work is being conducted. We 
therefore have a very clear picture of the type of cyber security research going on across Europe. 
 
As a result, Crossword is now engaged in building two cyber security software products. The first of these, 
based on several years of research at City University, London, is a cyber-risk assessment software as a service 
(SaaS) solution that will be launched in the first half of 2015. The second product is commercially 
confidential at this stage but we believe has global applicability. We have also signed agreements with both 
University of Bristol and University of Warwick to explore how to commercialise their research into cryptograpy 
and blockchain security respectively. 
 
Going forward, Crossword intends to announce its' first two products in 2015. Our plan is to build a portfolio 
of up to six significant cyber security products over the next couple of years. We have started building a 
partner programme of third parties who will assist in taking our products to market in 2015 and beyond. 
 
PRINCIPAL RISKS AND UNCERTAINTIES 
The key risks to the group are as follows: 
 
=-  failure to develop an appropriate commercial application for its 
    developing products; 
=-  failure to obtain sufficient financial support to enable such products 
    to be adequately delivered; 
=-  failure to establish commercialisation partnerships with leading 
    research universities 
=-  competition from existing IP transfer businesses seeking to engage in 
    cyber security commercialisation activity 
=-  failure to commercialise the products that it develops. 
 
At present the directors are pleased with progress in both of these areas and consider these risks are 
sufficiently mitigated. 
 
FINANCIAL AND NON FINANCIAL KEY PERFORMANCE INDICATORS 
The directors consider the key financial performance indicator to be cash 'burn rate'. At present they consider 
that this is within reasonable parameters and will continue to monitor this is the future. 
 
At this stage in its development, the directors do not consider that there are any relevant non-financial key 
performance indicators. 
 
T Ilube 
Director 
 
21 April 2015 
 
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME 
FOR THE PERIOD ENDED 31 DECEMBER 2014 
 
 
                                                                    6 Mar to 
                                                                      31 Dec 
                                                                        2014 
                                                                         GBP 
 
Cost of sales                                                       (54,142) 
 
                                                            ---------------- 
GROSS LOSS                                                          (54,142) 
 
Administrative expenses                                            (184,538) 
 
                                                            ---------------- 
LOSS BEFORE TAXATION                                               (238,680) 
 
Tax expense                                                                - 
 
                                                            ---------------- 
LOSS FOR THE PERIOD                                                (238,680) 
                                                            ---------------- 
                                                            ---------------- 
 
Loss from continuing operations                                    (238,680) 
 
 
Other comprehensive income: 
 
Exchange differences on translating foreign operations               (1,282) 
 
                                                            ---------------- 
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD                          (239,962) 
                                                            ---------------- 
                                                            ---------------- 
 
 
CONSOLIDATED STATEMENT OF FINANCIAL POSITION 
AS AT 31 DECEMBER 2014 
 
                                                                       Group 
                                                                      31 Dec 
                                                                        2014 
                                                                        GBP 
 
ASSETS 
 
NON-CURRENT ASSETS 
  Property, plant and equipment                                        5,486 
  Investments in subsidiaries                                              - 
                                                           ----------------- 
Total non-current assets                                               5,486 
                                                           ----------------- 
 
CURRENT ASSETS 
  Trade and other receivables                                         44,112 
  Cash and cash equivalents                                          445,163 
                                                           ----------------- 
Total current assets                                                 489,275 
                                                           ----------------- 
 
                                                           ----------------- 
TOTAL ASSETS                                                         494,761 
                                                           ----------------- 
                                                           ----------------- 
 
TOTAL EQUITY AND LIABILITIES 
 
EQUITY 
Attributable to the owners of Crossword Cybersecurity Plc 
  Share capital                                                       79,697 
  Share premium account                                              620,303 
  Retained earnings                                                (238,680) 
  Translation of foreign operations                                  (1,282) 
                                                           ----------------- 
Total Equity                                                         460,038 
                                                           ----------------- 
 
LIABILITIES 
 
CURRENT LIABILITIES 
  Trade and other payables                                            34,723 
                                                           ----------------- 
Total current liabilities                                             34,723 
                                                           ----------------- 
 
                                                           ----------------- 
TOTAL LIABILITIES                                                     34,723 
                                                           ----------------- 
 
                                                           ----------------- 
TOTAL EQUITY AND LIABILITIES                                         494,761 
                                                           ----------------- 
                                                           ----------------- 
 
Statutory Information 
 
The financial information set out above does not constitute the Company's statutory accounts for the period 
ended 31 December 2014 but is derived from those accounts. 
 
The financial information has been extracted from the statutory accounts of Crossword Cybersecurity plc and is 
presented using the same accounting policies, which have not yet been filed with the Registrar of companies, 
but on which the auditors, MHA MacIntyre Hudson, gave an unqualified report on 21 April 2015. 
 
The Annual Report of Crossword Cybersecurity Plc for period ended 30 November 2014 is available upon request 
from the Company's registered office at One America Square, Crosswall, London, United Kingdom, EC3N 2SG 
 
 
FOR FURTHER INFORMATION PLEASE CONTACT: 
 
Crossword Cybersecurity Plc 
Tom Ilube - CEO 
+44 (0)208 973 2350 
info@crosswordcybersecurity.com 
www.crosswordcybersecurity.com 
Twitter: @crosswordcyber 
 
OR 
 
WMG, University of Warwick 
Professor Tim Watson 
Director of the Cyber Security Centre 
K.V.Choudhary@warwick.ac.uk 
http://www2.warwick.ac.uk/fac/sci/wmg/research/csc/ 
Twitter: @wmgwarwick 
 
OR 
 
Alfred Henry Corporate Finance Limited 
Nick Michaels and Jon Isaacs 
GXG Corporate Advisor 
+44 207 251 3762 
www.alfredhenry.com 
 
 
Crossword Cybersecurity plc 
 

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