Business
Result of AGM and Trading Upd
Result of AGM and Trading Upd.
About this update from Tavistock Investments Plc
[{"type":"text","content":"\n RNS Number : 5923B Bright Things plc 29 October 2009 \n \nBright Things Plc\nResult of AGM and Trading Update\n\nResult of Annual General Meeting\n\nAt the Annual General Meeting of Bright Things Plc (\"Bright Things\" or \"Company\") held at 10.00am today all of the resolutions proposed were passed unanimously.\n\n\nTrading Update\n\nSocialGO is an online platform that allows users to create their own fully featured, fully hosted, fully supported social network website dedicated to whatever they choose in under 2 minutes.\nGroup members can communicate and share with each other just like they would on Facebook, but with added comfort of being amongst similarly minded people in a secure environment. Amongst the extensive tools available to network creators are various mechanisms that allow network creators to make money from their community. Many thousands of networks have been created to date and include schools, churches, sports clubs/teams, hobby groups, local communities, fansites, political parties, bands and entertainment.\n\nThe company's main revenue stream derives from Premium customers who subscribe to our monthly service and from the sale of 'add-ons' such as themes and widgets (like the iPhone apps store).\n\nThe market positioning of SocialGO is to aim at small businesses and organisations that wish to use social media to promote themselves or make revenue or raise funds for their group. In this way SocialGO differentiates itself from more consumer based products that rely upon large numbers of users to fuel advertising based revenue. Although SocialGO has many more free networks than Premium, these networks can act as a marketing tool to introduce the idea of using SocialGO to many people who may in turn become Premium customers.\n\nThe Company's income has grown steadily from the first full month of operation (March 2009) and it now has, in addition to many thousands of users of the free service, over 1,000 premium customers paying us an average of approximately $50 per month.\nThere are many development initiatives being worked on that should continue to improve SocialGO and increase the features and functions, as the platform is further developed. The Company is not just striving to captu...