Final Results -9-
September 02 2009 - 9:38AM
UK Regulatory
+---------------------------------------------------------------------------+------------+------------+
| Auditors' remuneration - non-audit services - taxation | 6 | 11 |
+---------------------------------------------------------------------------+------------+------------+
| Share based payments - employee and contractor share options | 50 | 52 |
+---------------------------------------------------------------------------+------------+------------+
| Share based payments - consultants incentive and development fees | 153 | 40 |
+---------------------------------------------------------------------------+------------+------------+
| | ________ | ________ |
+---------------------------------------------------------------------------+------------+------------+
+-------------------------------------------------------------+--------------------+--------------------+
| Research and development costs | Year ended | Year ended |
+-------------------------------------------------------------+--------------------+--------------------+
| | 31 March | 31 March |
+-------------------------------------------------------------+--------------------+--------------------+
| | 2009 | 2008 |
+-------------------------------------------------------------+--------------------+--------------------+
| | GBP'000 | GBP'000 |
+-------------------------------------------------------------+--------------------+--------------------+
| | | |
+-------------------------------------------------------------+--------------------+--------------------+
| Consist of: | | |
+-------------------------------------------------------------+--------------------+--------------------+
| | 838 | 300 |
+-------------------------------------------------------------+--------------------+--------------------+
| Development expenses and advances | - | 50 |
+-------------------------------------------------------------+--------------------+--------------------+
| Licence fees for intellectual properties - advances | ________ | ________ |
+-------------------------------------------------------------+--------------------+--------------------+
| | | |
+-------------------------------------------------------------+--------------------+--------------------+
| | 838 | 350 |
+-------------------------------------------------------------+--------------------+--------------------+
| | ________ | ________ |
+-------------------------------------------------------------+--------------------+--------------------+
+-------------------------------------------------------------+--------------------+--------------------+
| Loss per share | | |
+-------------------------------------------------------------+--------------------+--------------------+
| | | |
+-------------------------------------------------------------+--------------------+--------------------+
| Loss per share has been calculated using the following: | | |
+-------------------------------------------------------------+--------------------+--------------------+
| | | |
+-------------------------------------------------------------+--------------------+--------------------+
| | Year ended | Year ended |
+-------------------------------------------------------------+--------------------+--------------------+
| | 31 March | 31 March |
+-------------------------------------------------------------+--------------------+--------------------+
| | 2009 | 2008 |
+-------------------------------------------------------------+--------------------+--------------------+
| | | |
+-------------------------------------------------------------+--------------------+--------------------+
| Loss (GBP000) | (1,686) | (984) |
+-------------------------------------------------------------+--------------------+--------------------+
| Weighted average number of shares ('000s) | 92,108 | 38,680 |
+-------------------------------------------------------------+--------------------+--------------------+
| | ________ | ________ |
+-------------------------------------------------------------+--------------------+--------------------+
| | | |
+-------------------------------------------------------------+--------------------+--------------------+
| Basic and diluted loss per ordinary share | (1.8)p | (2.5)p |
+-------------------------------------------------------------+--------------------+--------------------+
| | ________ | ________ |
+-------------------------------------------------------------+--------------------+--------------------+
Loss per ordinary share has been calculated using the weighted average number of
shares in issue during the relevant financial periods. The weighted average
number of equity shares in issue, is 92,107,557 (2008 - 38,679,586) and the
earnings, being loss after tax is GBP1,686,000 (2008 - GBP984,000 loss). There
are no potentially dilutive shares in issue. Share options totalling 13,193,105
(2008 - 2,393,105) have not been included in the calculation of diluted loss per
share because they are anti-dilutive for the periods presented.
Following completion of the first version of the SocialGO product on 31 July
2008, 3,091,250 new Ordinary Shares were issued to the vendors of CommonWorld
Ltd. In addition, if the net proceeds of sales of the Social Network Maker
product in the period of two years following the commercial launch exceed
GBP2,000,000, the Company will issue to the vendors of CommonWorld a further
3,091,250 new Ordinary Shares.
After the balance sheet date, on 8 April 2009 the Company raised GBP750,500 from
the issue of 60,040,000 new Ordinary 1p shares at 1.25p per share. This issue
would not significantly alter the basic and diluted EPS calculations if it had
occurred before the year end.
The company has outstanding issued warrants to subscribe for 540,541 10p
ordinary shares at GBP1.50 per share, 250,000 10p ordinary shares at GBP2.50 per
share and 35,380,000 1p ordinary shares at 5p per share (2008 - 540,541 10p
ordinary shares at GBP1.50 per share and 250,000 10p ordinary shares at GBP2.50
per share). These outstanding warrants are considered to be anti-dilutive.
Share capital
On 30 July 2008, following the completion of the development and developer
testing of SocialGO by 31 July 2008, the Company issued the vendors of
CommonWorld Limited, a further 3,091,250 new 1p Ordinary Shares.
On 23 October 2008 the Company raised GBP784,500 from the issue of 62,760,000
new Ordinary 1p shares at 1.25p per share. Associated costs of issue were
GBP34,000. 31,380,000 warrants exercisable at 5p were also issued.
On 20 February 2009, in lieu of certain development costs due under an agreement
in October 2008, the Company issued to Get On With It Limited ('GOWIT'),
8,000,000 new 1p Ordinary Shares. 4,000,000 warrants exercisable at 5p were also
issued.
After the balance sheet date, on 8 April 2009 the Company raised GBP750,500 from
the issue of 60,040,000 new Ordinary 1p shares at 1.25p per share.
+-------------------------------------+----------------+----------------+----------------+----------------+
| Ordinary shares of 1p each | | | | |
+-------------------------------------+----------------+----------------+----------------+----------------+
| | Authorised |
+-------------------------------------+-------------------------------------------------------------------+
| | 31 March | 31 March | 31 March | 31 March |
+-------------------------------------+----------------+----------------+----------------+----------------+
| | 2009 | 2008 | 2009 | 2008 |
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