Orogen has blown its FY pretax loss out to £3.03m, from a loss of £356,000. This included a £2.7m impairment of exploration and evaluation assets, from nil a year earlier.
"During the period under review the company operated mineral exploration activities," it said.
"Since the period end it announced that it would be disposing its assets to become a cash shell.
"On 26 May 2017, it subsequently announced agreed heads of terms for the reverse takeover of Thread 35 Limited which operates an e-commerce womenswear brand under the brand name "Sosandar".