Business
Annual Results for the year ended 31 December 2010
Annual Results for the year ended 31 December 2010.
About this update from Tavistock Investments Plc
[{"type":"text","content":"\n \nRNS Number : 8868D SocialGO plc 30 March 2011 \n \n\n30th March 2011\n \n \nSocialGO plc\n \n(\"SocialGO\" or the \"Company\")\n \nAnnual Results for the year ended 31 December 2010\n \nHighlights\n \nThe Group has made progress in a number of areas;\n· Revenues have increased by 183% over the comparable nine month period in the prior year;\n· Gross Profit of £238,000 was reported for the period against a gross loss of £24,000 for the prior 12 month period;\n· Completed fundraisings totalling £700,000 during the period (gross of £24,000 related expenses), in which 56,000,000 new ordinary shares were allotted at a price of 1.25p;\n· Post period end the Group raised a further £300,000 from the issue of 10,909,091 new Ordinary 1p shares at 2.75p per share and £1,355,500 from the issue of 45,271,186 new Ordinary 1p shares at 2.95p per share;\n· SocialGO™ Version 2 beta testing progressed well in Quarter 1, 2011 and is due to launch at the end of Quarter 2;\n· SocialGO™ boxed version on sale in Apple stores in USA;\n· Dominic Wheatley appointed Executive Chairman of the Board of Directors;\n· Alex Halliday appointed Chief Executive Officer and Steve Hardman appointed Chief Operating Officer;\n· Canaccord Genuity Limited appointed as Company NOMAD and Broker;\n· Post period end the Group appointed First Columbus LLP as Co-Broker.\n \n \n\"It is evident from the ongoing take-up of the SocialGO product by a diverse array of interest groups - schools, sports clubs, churches and political movements - that there is growing appetite for a personalised platform on which to interact. This trend is only going to continue and we believe we are uniquely placed to succeed in capturing the opportunities ahead, particularly as we look towards the launch of Version 2 of the product in summer 2011.\"\n \nAlex Halliday, CEO\n \n \nDuring the period the Group has made progress in a number of verticals, with high profile users including:\n \n· Corporations - Hilton Hotels, Texas Instruments, Asda and Levis;\n \n· Charities - ...