RNS Number:7856E
Adorian PLC
28 September 2007



For immediate release                                         28 September 2007


                                  ADORIAN PLC

                              CHAIRMAN'S STATEMENT

               Interim accounts for the months ended 30 June 2007


Overview

The Company remains a cash shell at present, although continuing actively to
seek new opportunities to enhance shareholder value. Trading on AIM was restored
on 10 August 2006 on the withdrawal from the takeover bid for Anglo Biotrans Plc
however the shares were suspended from trading again on the 28 June 2007 as the
Company had not found a suitable acquisition. The Company's AGM on the 31st July
2007 passed a resolution to consolidate the Company's shares from 0.01p to 75p,
and this was implemented on the same day. Subsequently the Company withdrew from
Crest and the Company now maintain its own register.


Financial Results

The unaudited financial results for the six months to 30 June 2007 show an
operating loss of #28,000; earnings per share are negative, being 0.20p (basic
and diluted).


Cash Flow and Funding

The Directors have committed themselves to the financial support of the Company
until such time as a reorganisation of the Company's finances are effected on an
acquisition.


Outlook

The Board continues to seek ways, by acquisition, to enhance shareholder value.
It was disappointed that the proposed Anglo Biotrans transaction did not take
place but feel confident that a further acquisition will be found. Shareholders
should be aware that the Company's trading facility on AIM will be cancelled on
the 29 September 2007.


W N V Weller
Director

28th September 2007


                                  ADORIAN PLC

                                Income Statement
                     for the six months ended 30 June 2007


                                 Six months  Six months             Year ended  
                                 to 30 June     30 June            31 December 
                                       2007        2006                   2006
                                  Unaudited     Audited                Audited

                                      #'000       #'000                  #'000

Continuing Operations

Revenue                                   -           -                      -

Cost of Sales                             -           -                      -
                                  ---------  ----------             ----------

Gross Profit                              -           -                      -

Administrative
expenses                                (29)        (29)                   (83)
                                  ---------  ----------             ----------

Operating Loss                          (29)        (29)                   (83)

Investment revenues                       1           -                      -

Finance costs                             -           -                      -
                                  ---------  ----------             ----------

Loss before tax                         (28)        (29)                   (83)

Income tax charges                        -           -                      -
                                  ---------  ----------             ----------

Loss for the period
from continuing                         (28)        (29)                   (83)
operations attributable to
shareholders

Loss per share

From continuing operations:

Basic and diluted                     (0.20p)     (0.24p)                (0.61p)



The company's turnover and operating loss arise from continuing operations.

There were no recognised gains or losses other than those recognised in the
income statement above.




                                  ADORIAN PLC

                        Balance Sheet as at 30 June 2007


                                   As at 30 June  As at 30 June       As at 31
                                            2007           2006  December 2006
                                       Unaudited      Unaudited        Audited

                                           #'000          #'000          #'000
Assets
Non-current assests
Property, plant and equipment                  -              -              -
Goodwill                                       -              -              -
Other intangibles                              -              -              -
                                       ---------      ---------      ---------
                                               -              -              -
                                       ---------      ---------      ---------
Current assets
Inventories                                    -              -              -
Trade and other receivables                    8              8             10
Cash and cash equivalents                     16              3             60
                                       ---------      ---------      ---------
                                              24             11             70
                                       ---------      ---------      ---------

                                       ---------      ---------      ---------
Total assets                                  24             11             70
                                         ---------      ---------      ---------


Equity and liabilities
Capital and reserves
Share capital                              9,820          9,803          9,820
Capital Reserves                          10,116         10,116         10,116
Retained earnings                        (20,129)       (20,047)       (20,101)
                                       ---------      ---------      ---------
Total equity                                (193)          (128)          (165)
                                       ---------      ---------      ---------

Non current liabilities
Other loans                                  140             51            140
                                       ---------      ---------      ---------
                                             140             51            140
                                       ---------      ---------      ---------

Current liabilities
Trade and other payables                      77             88             95
Other loans                                    -              -              -
                                       ---------      ---------      ---------
                                              77             88             95
                                       ---------      ---------      ---------

                                       ---------      ---------      ---------
Total liabilities                            217            139            235
                                       ---------      ---------      ---------

                                       ---------      ---------      ---------
Total equity and liabilities                  24             11             70
                                       ---------      ---------      ---------



                                  ADORIAN PLC

                              Cash Flow Statement
                     for the six months ended 30 June 2006


                                Six months             Six months   Year ended
                                to 30 June             to 30 June  31 December
                                      2007                   2006         2006
                                 Unaudited              Unaudited      Audited
                                     #'000                  #'000        #'000

Operating activities                   (45)                    (9)         (57)

Investing activities
Interest received                        1                      -            -
Interest paid                            -                      -            -

Purchases of plant and equipment         -                      -            -
                                ----------              ---------   ----------
                                         1                      -            -
                                ----------              ---------   ----------

Financing activities

Proceeds on issues of shares             -                      -            -
Increase in long term debt               -                      -          105
                                ----------              ---------   ----------
                                         -                      -          105
                                ----------              ---------   ----------
Net cash inflow/(outflow)              (44)                    (9)          48

Cash and cash equivalents at
the beginning of the period             60                     12           12
                                ----------              ---------   ----------
Bank balances and cash                  16                      3           60
                                ----------              ---------   ----------





                         Statement of changes in equity

                                          Unaudited     Unaudited      Audited
                                           6 Months      6 months   Year ended
                                              ended         ended  31 December
                                       30 June 2007  30 June 2006         2006
                                              #'000         #'000        #'000

As at the beginning of period                  (165)         (102)        (102)

Deficit for the period                          (28)          (29)         (83)

Issue of share capital net of expenses            -             -           20

Issue of convertible loan stock (net)             -             3            -
                                         ----------     ---------   ----------
As at end of period                            (193)         (128)        (165)
                                         ----------     ---------   ----------





                                  ADORIAN PLC

                          Notes to the Interim Report


1. Significant Accounting Policies

These accounts have been prepared in accordance with International Financial
Reporting Standards and on the historical cost basis, using generally recognised
accounting principals. Consistent with those used in the annual report and
accounts for the year ended 31 December 2006.

The interim report for the six months to 30 June 2007 was approved by the Board
on 28 September 2007.




2. Loss per Share

                       Six months to 30    Six Months to 30       Year ended 31
                              June 2007           June 2006       December 2006
Earnings per
ordinary shares
Basic and diluted                (0.20p)             (0.24p)             (0.61p)



The loss per ordinary share is based o the company's loss for the period of
#28,000 (30 June 2006 - Loss #29,000; 31 December 2006 - Loss #83,000) and a
basic and diluted weighted average number of shares in issue of #13,789,299 (30
June 2006 - 12,062,780; 31 December 2006 12,853,957).


3.  Reconciliation of operating loss to net cash outflow from operating 
    activities.


                            Six Months         Six months           Year ended 
                            To 30 June            30 June          31 December
                                  2007               2006                 2006
                                #'000s             #'000s               #'000s

Loss for the period                (29)               (29)                 (83)
Adjustments for :
Amortisation of other                -                  -                    -
intangibles
(Increase)/Decrease in               -                  -                    -
inventories
(Increase)
Decrease in receivables              2                 (2)                  (4)
Increase/(Decrease) in
payables                           (18)                22                   30
                          ------------         ----------           ----------
Net cash from
operating
activities                         (45)                (9)                 (57)
                          ------------         ----------           ----------


4. Called up Share Capital

   The issued share capital as at 31 December 2006, per the audited accounts was
   13,789,299 Ordinary Shares of 0.1p each.

5. The unaudited results for period ended 30 June 2007 do not constitute
   statutory accounts within the meaning of Section 240 of the Companies Act 
   1985. The comparative figures for the year ended 31 December 2006 are 
   extracted from the statutory financial statements which have been filed with 
   the Registrar of Companies and which contain an unqualified audit report and 
   did not contain statements under Section 237(2) or (3) of the Companies Act 
   1985.



                                 ADORIAN PLC

                          Notes to the Interim Report


6.  Copies of this interim statement are available from the Company at its 
    registered office at Finsgate, 5-7 Cranwood Street, London, EC1V 9EE.


7.  Events subsequent to 30 June 2007

    The Company will lose its quote on the 29 September as it has failed to do 
    a reverse acquisition.




                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
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