The board released RIFC's annual accounts on 28 October which revealed annual losses had been halved to £3.3m and turnover increased to £22.2m, however, further funding was required to maintain the business as a going concern. In March 2017, a decision Takeover Appeal Board (TAB) following a complaint by former Rangers chairman David Somers ruled that Dave King had been acting in concerted with other investors during King's March 2015 boardroom takeover. This meant that King was liable to purchase all of the shares in RIFC, with the TAB setting a price of 20p per share. A few days later, RIFC revealed an operating profit of £300,000 in unaudited results for the six months to 31 December 2016, although this equated to a pre-tax loss of £278,000.