DJ Fast Bet Solutions Half Yearly Report
TIDMFBSP
Half Yearly Report
Fast Bet Solutions Plc
("Fast Bet" or the "Company")
Unaudited Interim statement for the six months ended 31 March 2012
Chairman's statement
During the period the Company acquired the entire share capital of Fast Bet Limited, which is now the trading
subsidiary of Fast Bet Solutions Plc. The Company completed a successful trial of non-automated software with Star
Sports in January 2012. As part of the Company's strategy to provide an automated software solution, the Company's
subsidiary, Fast Bet Limited signed an agreement with 2sms.com Limited to develop such software, in March 2012.
As announced in the Company's audited results, the general economic environment continues to be tough and smaller
companies are finding difficulty in raising funds in this market. We continue to face the same difficulties as
reported in the audited accounts, and as such the Company's must secure further funding to implement its business
strategy and develop the automated software solution mentioned above. Although the Board have been working tirelessly
to negotiate and secure an injection of development capital, so far we have been unable to do so. We continue to look
at a number of options for the company and we will update the market as soon as practicably possible.
Unaudited Income Statement
For period ended 31 March 2012
6 months 6 months Year ended
to to 30 September
31 March 31 March 2010
2011 2011
Continuing operations GBP GBP GBP
Revenue - - -
Administrative expenses (49,476) (27,519) (49,615)
Operating loss ( 49,476) ( 27,519) (49,615)
Finance income - - -
Finance costs - - (1,080)
Loss for the period before taxation (49,476) (27,519) (50,695)
Taxation - - -
Loss for the period (49,476) (27,519) (50,695)
Loss per share
From continuing and total operations: Basic and diluted (pence per (0.07p) (0.06p) (0.09p)
share)
Unaudited Balance Sheet
As at 31 March 2012
31 March 2011 31 March 2010 30 September 2011
(Unaudited) (Unaudited) (Audited)
ASSETS GBP GBP GBP
Fixed assets
Investments - - 45,000
Deferred development costs 40,000 - -
- - 45,000
Current assets
Trade and other receivables 5,200 8,068 5,397
Cash and cash equivalents 8,256 2,766 2,297
13,456 10,834 7,694
Total assets 53,456 10,834 52,694
EQUITY AND LIABILITIES
Equity attributable to equity holders of the
Company
Issued share capital 716 468 607
Share premium 469,288 397,036 441,897
Loan note equity reserve 3,404 3,404
Capital redemption reserve 404 404 404
Accumulated losses (485,699) (413,047) (436,223)
Total equity (11,887) (15,139) 10,089
Current liabilities
Trade and other payables 17,667 25,973 19,929
Non-current liabilities
Convertible loan notes 47,676 - 22,676
53,456 10,834 52,694
These interim financial statements were approved by the Board on 29th June 2011.
The financial information disclosed in these financial statements has not been audited or reviewed by the Company's
auditors and does not constitute statutory accounts.
The Directors of the Company accept responsibility for this announcement.
--END-
Enquiries:
FAST BET SOLUTIONS PLC
Jennifer Allsop
+44 77 88 45 17 44
RIVINGTON STREET CORPORATE FINANCE
Fungai Ndoro/ Eran Zucker
+44 20 7562 3373
Fast Bet Solutions Plc
(END) Dow Jones Newswires
June 29, 2012 12:44 ET (16:44 GMT)