ADVFN Regulatory News (AFN)

29 Mar 2005 13:00

ALL IPO PLC29 March 2005 ALL IPO PLC ('ALL IPO' or 'the Company') Unaudited Interim Results for the Six Months Ended 31 December 2004 ALL IPO today announces unaudited interim results for the six months ended 31December 2004 Managing Director's Statement I am pleased to report our first set of results since our change of name fromAkaei Plc to ALL IPO PLC. Since our last annual results we have raisedadditional funds resulting in a significantly healthier balance sheet, completedthe acquisition of All Ipo Limited, strengthened our board and moved into thefinancial sector. The acquisition was only completed in November 2004 and thenew business is pending FSA approval so this has had a minimal effect on theprofit and loss account. These developments present new opportunities and have brought a substantiallynew board that brings with it many years of experience of working in theFinancial Markets. We also now have a significant new shareholder in ADVFN PLC,Europe's leading provider of Stock Market data to private investors, which hasindicated that it will provide All IPO with access to ADVFN's substantial userbase which will provide a significant distribution channel. ADVFN is aninvaluable resource for anyone interested in or monitoring the financial marketsand can be viewed at: www.advfn.com All IPO will be a pivotal platform for the efficient distribution of financialinstruments to private investors. It will make available to private investorsshares of companies that are coming to the market and wishing to raise capitalvia the Internet. Retail investors will be able to participate on-line in IPOsand other fundraisings. ALL IPO's business is designed to allow investors toapply for new issues of shares during an IPO via a fully on-line process.Investors will view investment opportunities, apply for shares, pay and havetheir investments confirmed via a seamless electronic process. The new business requires ALL IPO to be regulated by the Financial ServicesAuthority ("FSA"). This is a lengthy and complicated process, but ourapplication seeking FSA approval has now been submitted and we are waiting onthe FSA to respond. Timing of such a response is uncertain, but usually takesseveral months. An announcement will be made once we have received suchapproval and we will then shortly begin to make IPOs available and develop theplatform further to expand the range of offerings it can provide. We believe that we will soon be ready to exploit the many opportunities expectedto become available in the IPO arena and we look to the future with optimism. Clement ChambersManaging Director29 March 2005 ALL IPO PLCConsolidated Profit and Loss Accountfor the six months ended 31 December 2004 Six months ended Six months ended Year ended 31 December 2004 31 December 2003 30 June 2004 Unaudited Unaudited Audited £'000 £'000 £'000 Turnover - - - Cost of sales - - - Gross loss - - - Administrative expenses (48) (22) (43) Operating loss (48) (22) (43) Net interest 2 (1) (2) Loss on ordinary activities before (46) (23) (45)taxation Tax on loss on ordinary activities - - - Loss on ordinary activities after (46) (23) (45)taxation Loss per ordinary share (0.6p) (1.0p) (1.99p) There were no recognised gains or losses other than the loss for the financialperiod. ALL IPO PLCConsolidated Balance Sheetsat 31 December 2004 31 December 2004 31 December 2003 30 June 2004 Unaudited Unaudited Audited £'000 £'000 £'000 Fixed AssetsTangible assets 3,977 - - Current AssetsDebtors 15 9 8Cash at bank and in hand 938 13 - 953 22 8Creditors: amounts falling due withinone year (302) (232) (305) Net current assets / (liabilities) 651 (210) (297) Total assets less current liabilities 4,628 (210) (297) Capital and ReservesCalled up share capital 680 470 470Share premium account 5,899 1,203 1,138Profit and loss account (1,951) (1,883) (1,905) Shareholders' funds / (deficit) 4,628 (210) (297) ALL IPO PLCConsolidated Cash Flow Statements for the six months ended 31 December 2004 Six months ended Six months ended Year ended 31 December 2004 31 December 2003 30 June 2004 Unaudited Unaudited Audited £'000 £'000 £'000 Net cash outflow from operating (58) (13) (98)activities Returns on investment and servicing offinanceInterest received 3 - -Interest paid (1) (1) (2) Taxation - - 55 Capital expenditurePayments to acquire tangible fixed assets (227) - - Net cash outflow before financing (283) (14) (45) FinancingIssue of ordinary share capital 1,500 - -Share issue costs (214) - -Loan from parent undertaking (65) 24 42 Net cash inflow from financing 1,221 24 42 Increase / (decrease) in cash 938 10 (3) ALL IPO PLC Notes to the interim statementfor the six months ended 31 December 2004 1. Loss per ordinary share Six months ended Six months ended Year ended 31 December 2004 31 December 2003 30 June 2004 Loss for the period £'000 (46) (23) (45) Weighted average number of shares '000 7,664 2,216 2,258 Loss per share P (0.6p) (1.0p) (1.99p) 2. The directors do not recommend the payment of a dividend. 3. The financial information contained in this document does not constitute statutory accounts within the meaning of Section 240 of the Companies Act 1985. The financial information for the year ended 30 June 2004 is extracted from the audited financial statements for that period on which the auditors gave an unqualified report. A copy of those financial statements has been filed with the Registrar of Companies. 4. Copies of this statement are being posted to shareholders shortly and will be available from the company's registered office at 642a Lea Bridge Road, Leyton, London, E10 6AP. This information is provided by RNS The company news service from the London Stock Exchange