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Investment company Two Shields Investments posted a full-year loss as it continued to eye the development of main assets, including brand protection offering BrandShield and social commerce platform WeShop.
Pre-tax losses for the year through March amounted to £1.96 million, compared to losses £2.55 million year-on-year.
Two Shields said WeShop was planning to launch an e-commerce platform in the fourth quarter of this year.
Two Shields this month had agreed terms for the acquisition of BrandShield in a share-for-share offer, subject to finalising share purchase and placing agreements.
'The directors believe that BrandShield is a very exciting value proposition and will benefit greatly from a public listing in order to execute its development roadmap to enable it to win more customers,' the company said.
'BrandShield's product is now highly developed and it is aiming to significantly increase sales and marketing activity to capitalise on the rapid growth in its industry, in part caused by an acceleration in online criminal activity caused by Covid-19.'