30 Nov 2010
INNOVATIVE SOFTWARE DIRECT PLC (“ISD” or the “Company”)
LETTER OF INTENT
Further to the proclamation of twenty-nine Oct 2010, per the Letter of Intent from IA Global Inc
(“IAGI”), to take 100% of the Company’s trade subsidiaries Powerdial Systems and Powerdial
Services, the Board announces the following:
The Letter of Intent from IA Global Inc. stays active, and the contract is approaching to close
as before long as authorised agreements can be finalised. Since the prior proclamation the Company has been
undertaking the minute due industry in apply oneself of IAGI’s general trade subsidiaries and
reorganising the promissory note facilities. As a outcome of the counts noted, the Board announces a delay
in bringing this contract to a close.
However the Board is gratified to make known which the processes of due industry and corporate
restructuring have differently been well-spoken and transparent.
The Board reaffirms the joining to surpassing this plan to a closure and expects to release
an suitable proclamation shortly.
About IA Global, Inc.
IAGI, whose batch now trades on the OTCBB Exchange underneath the pitch “IAGI” is a global
services and outsourcing association focused on flourishing existent businesses and enlargement through
global mergers and acquisitions. IAGI is now utilising the stream commercial operation partnerships to
acquire expansion businesses in the aim sectors and markets. The association is additionally actively engaging
businesses which would good from the commercial operation expertise, believe of Asian Markets, and
The Directors of ISD accept shortcoming for this announcement.
SHEBA EXPLORATION (UK) PLC
(“Sheba” or the “Company”)
INTERIM RESULTS FOR THE 6 MONTHS ENDED 31 AUGUST, 2010
Date: thirty Nov 2010
The Directors of Sheba Exploration (UK) Plc have been gratified to make known the un-audited halt formula for
the 6 month duration finished 31 Aug 2010.
The main eventuality of the half-year underneath examination was the emanate of the Una Deriam Exclusive Exploration
Licence on the 19th March, 2010. Covering we estimate 100 block kilometres, the benefaction encompasses
the Werii River bullion belt, which the Company has traced for at slightest twelve kilometres from north to south.
Exploration re-commenced in April, with dirt sampling and trenching.
On the Shehagne Exclusive Exploration Licence, choice holders Stratex International Plc one after another channel
sampling the Tsemetti first bullion section and voiced serve enlivening bullion intersections including
one of 9 metres at 2.49 g/t gold. Stratex voiced a first bullion aim fluctuating for at slightest 1340
metres and is reviewing the choice to cavalcade this aim in 2011.
Applications were submitted for scrutiny licences at Finarwa and Winibo Exclusive Prospecting Licences
in Mar as the Company intends to follow up bullion and copper mineralization encountered on both licence
areas. Licence capitulation has been performed and emanate of the looseness is approaching imminently.
Una Deriam Exclusive Exploration Licence
Exploration re-commenced in April. The looseness is a converging of formerly hold prospecting and
exploration licences and the work programme consists of infill dirt sampling to couple formerly defined
gold dirt anomalies. Soil representation formula from the south finish of the benefaction area (Inda Shetan) were
announced late April, which enclosed a bullion dirt curiosity peaking at 560 ppb gold, compared with quartz
veins in fine-grained middle forward rocks. A representation of quartz assayed 5.3 g/t bullion at this
locality. These formula denote which the bullion leather leather belt extends for a stretch of at slightest twelve kilometres
from north to south. During May dirt sampling one after another northwards to couple the Inda Shetan bullion anomaly
with the Inda Talian bullion anomaly. During May and Jun trenching commenced at Inda Talian, an old mining
camp dating to 1903. Three trenches were completed, any appromixately 100 metres long. Detailed infill
soil sampling was additionally finished at the site to conclude a clever bullion dirt curiosity which exceeds 1000 ppb gold.
Shehagne Exclusive Exploration Licence
Further channel sampling was carried out by the Stratex scrutiny group at Tsemetti, a bullion dirt anomaly
discovered by Sheba Exploration in 2006 and subsequently drilled in 2008. The clever dirt anomaly
(exceeding 1000ppb in places) extends roughly 3 kilometres in length, the northern finish of which is
currently underneath examination by Stratex. In serve to alternative considerable intercepts reported by both
companies in the past, a serve glorious prevent of 9 metres grading 2.49 g/t was reported by
Stratex. Follow-up training and a geophysical consult is programmed for the awaiting in 2011.
Finarwa and Winibo Exclusive Prospecting Licences
An focus has been submitted for an scrutiny looseness covering these dual benefaction areas,
following enlivening early prospecting formula by the Company. Alluvial bullion is right away being recovered from
streams and rivers at Finarwa by internal panners and the first source has nonetheless to be located – judging by
the volume of panning going on in the area, the first bullion source contingency be significant. Meanwhile at
Winibo, some-more minute work is programmed on the 4.5 kilometre prolonged bedded copper trend, quite at the
south end, where a grab representation assayed 4.3% copper.
The Group reported an un-audited detriment of £61,982 for the 6 months finished 31 Aug 2010 an enlarge from
£46,315 for the 6 months to 31 Aug 2009 especially due to an enlarge in selling expenses. The loss
per share for the duration was 0.065p.
Subsequent to the duration underneath examination the Company has done dual small in isolation placements amounting to
GBP28,750 to support with short tenure operative collateral requirements. Before year finish the Company hopes to
complete serve financing to capacitate the Company to try the really earnest bullion and copper projects
in a some-more assertive fashion.
During the half year underneath examination the Company has done a quip operationally notwithstanding really tight
financial constraints. Una Deriam is set to turn an critical bullion plan which might shortly underline among
the heading bullion projects in the nation and inside of the Arabian-Nubian Shield. New bullion mines are
currently being grown in Eritrea and Egypt in equivalent terrains to northern Ethiopia and the
exploration attention has at final woken up to the fact.
The Directors have been now articulate to assorted parties meddlesome in the prolonged tenure intensity of our
licences and have been assured of appropriation the appropriation required to move these to fruition.
Henry Atkinson, Director, thirty November, 2010.
SHEBA EXPLORATION (UK) PLC
INTERIM CONSOLIDATED PROFIT AND LOSS ACCOUNT
FOR THE 6 MONTHS ENDED 31ST AUGUST 2010
6 Months finished 6 Months ended
TURNOVER – –
Operating Costs (6414) (6123)
Administrative Expenses (55568) (40192)
LOSS ON ORDINARY ACTIVITIES
BEFORE TAXATION (61982) (46315)
Taxation – –
RETAINED LOSS FOR THE PERIOD (61982) (46315)
(LOSS) PER .75p ORDINARY SHARE (0.065p) (0.052p)
(LOSS) PER .75p ORDINARY SHARE (0.052p) (0.041p)
The Company done no recognized gains or waste alternative than those shown above. All formula describe to
SHEBA EXPLORATION (UK) PLC
INTERIM CONSOLIDATED BALANCE SHEET
AS AT 31ST AUGUST 2010
Tangible Assets 177 201
Goodwill 323164 323164
Cash at Bank and In Hand 3428 5491
Debtors 4275 3750
CREDITORS: – Amounts Falling
Due inside of One Year (173435) (128180)
NET CURRENT LIABILITIES (165732) (118939)
NET ASSETS 157609 204426
CAPITAL AND RESERVES
Called Up Share Capital 741950 675950
Share Premium Capital 65187 65187
Profit and Loss Account (649528) (536711)
SHAREHOLDERS’ FUNDS 157609 204426
NOTES TO THE INTERIM CONSOLIDATED PROFIT AND LOSS ACCOUNT AND INTERIM C0NSOLIDATED BALANCE SHEET FOR THE
6 MONTHS ENDED 31ST AUGUST 2010
1. ACCOUNTING POLICIES
Basis of Accounting
These accounts have been rebuilt on the chronological price basis, regulating generally
recognized accounting principles.
2. LOSS PER SHARE
The calculation of detriment per typical share is formed on the following waste and numbers of
6 Months finished 6 Months ended
Loss for the duration £61982 £46315
Weighted normal series of shares in issue:
Basic 95.72 million 88.76 million
Fully widely separated 118.72 million 111.76 million
The Company done dual small in isolation placements amounting to £28,750 in the duration successive to
– In Oct 2010 it released 2,500,000 shares at 0.75p per share to lift £18,750.
– In Nov 2010 it released 1,000,000 shares at 1.00p per share to lift £10,000.
3. FINANCIAL INFORMATION
The monetary report in this matter is un-audited and does not consecrate statutory
accounts. The monetary report has not been reviewed by the Company’s auditor.
The Directors of Sheba Exploration (UK) Plc have been obliged for the essence of this announcement.
Sheba Exploration (UK) Plc
Richard Brooker Tel: 00 353 87699 8401
St Helens Capital Partners LLP Tel: 020 7368 6959
Mark Anwyl or Duncan Vasey
Final Results and Interim Results
30/11/2010 GB00B0MH9D42/GBP/PLUS-exn CAP ENERGY LIMITED ("Cap" or the "Company") Audited Results for the year finished 31 Dec 2009 and Unaudited Results for the 6 months finished thirty Jun 2010 CHAIRMAN'S STATEMENT The Chairman presents his matter for the year finished 31 Dec 2009 and the 6 months finished thirty Jun 2010. At the commencement of the year, Cap eventually acquired the operative interests in the Stark's Dome oilfield and the Iberia Dome project, both in Louisiana, USA. The Directors of Cap hold which sell identical to this have been required for Cap to turn a poignant oil and gas writer with good intensity for serve development. As dual thirds of the acquisition care was confident by the subsidy of typical shares in Cap, the owner-operator of the two interests, CSV Holdings, Inc., right away binds 29.9% of Cap's released share capital, and has each inducement for the interests and Cap itself to succeed. On acquisition, Cap owned 25% of 7 brand brand brand brand brand new producing oil wells, 3 new wells available execution and a large array of burned out intensity wells which appeared to have serve productive zones. Our initial priority for 2009 was the raising of brand brand brand brand brand new appropriation to prove the money component of the CSV merger price, to comment the execution of the 3 brand brand brand brand brand new oil wells, the recompletion of a little non-producing wells and to provide working collateral and corporate beyond for the entrance year. Thanks to a poisonous multiple of diseased monetary markets and a low oil price, this practice was not finished until Oct 2009, when Cap released a sum of £505,000 worth of interest-bearing automobile loan notes. On execution of the appropriation exercise, a work programme began to place the 3 uncompleted superfluous brand brand brand brand brand new oil wells on prolongation and a rough array of recompletions of old oil wells on the Stark's Dome Oilfield. Around this time, CSV began to have problems with the salt H2O ordering good at Stark's Dome, which is required for the field to be means to work fully. The outcome of the difficulties of disposing of rubbish H2O meant which any wells producing H2O as good as oil had to be close in, exceedingly shortening CSV's and Cap's output. Finally it was concluded which a brand brand brand brand brand new ordering good was necessary. This was a extensive routine requiring the preference and evaluation of a befitting deserted well, pattern of the execution of the ordering system, capitulation of the planned scheme by the state authority, execution of the work, contrast of the recompleted good and last capitulation by the state authority. All club the last component is right away finish and we wait for to listen to which the wells can be placed behind on full production. The enlarged check has of course been really frustrating for the Company and their shareholders and Cap can usually look forward to a improved year with prolongation without encumbrance by technical problems. In the duration after the CSV acquisition the Company saw enough normal oil prolongation to show which the wells were producing a decent over-abundance even at depressed oil prices. Current prices of around $80 per tub have been some-more than competent for the prolongation to generate good handling surpluses. While watchful for prolongation to recommence, Cap continues to weigh alternative possibilities which have been presenting themselves in the USA and elsewhere. When finance management allow, hopefully in early 2011, CSV's plan in the Iberia Dome area of Louisiana will commence, with the intensity for tall returns. With apply oneself to the Company's accounts for the year, the rebate in turnover in 2009 compared with which of the previous year reflects the sale of the producing resources in Oklahoma at the finish of 2008 and the detriment of oil production at the Stark's Dome Oilfield in 2009 as a outcome of the problems with the salt H2O ordering well. Increased beyond was incurred in 2009 as a outcome of the long appropriation contract during the year. I instruct to appreciate the Directors, officers and shareholders of the Company for their await during the year. T Hearley Chairman Date: twenty-two Nov 2010 The Directors benefaction their inform and the monetary statements for the year finished 31 Dec 2009. CONSOLIDATED PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2009 2009 2008 £ £ TURNOVER 38,493 44,602 Cost of sales (37,048) (36,770) GROSS PROFIT 1,445 7,832 Administrative losses (181,906) (133,585) Exceptional executive losses (104,986) - Total executive losses (286,892) (133,585) OPERATING LOSS (285,447) (125,753) EXCEPTIONAL ITEMS Other well-developed equipment - 130,174 (LOSS)/PROFIT ON ORDINARY ACTIVITIES BEFORE INTEREST (285,447) 4,421 Interest receivable and identical income eighteen 1,944 Amounts created off investments (5,000) - Interest on credit and identical charges (1,079) - (LOSS)/PROFIT ON ORDINARY ACTIVITIES BEFORE TAXATION (291,508) 6,365 Tax on (loss)/profit on typical activities - - (LOSS)/PROFIT FOR THE FINANCIAL YEAR (291,508) 6,365 EARNINGS PER SHARE (0.03) - CONSOLIDATED BALANCE SHEET AS AT 31 DECEMBER 2009 2009 2008 £ £ £ £ FIXED ASSETS Tangible resources 617,604 864,968 Investments 20,000 - 637,604 864,968 CURRENT ASSETS Debtors 74,002 10,995 Cash at bank 60,000 32,594 134,002 43,589 CREDITORS: amounts descending due inside of one year (18,113) (585,019) NET CURRENT ASSETS/(LIABILITIES) 115,889 (541,430) TOTAL ASSETS LESS CURRENT LIABILITIES 753,493 323,538 CREDITORS: amounts descending due after some-more than (507,490) - one year NET ASSETS 246,003 323,538 CAPITAL AND RESERVES Called up share collateral 43,737 30,660 Share reward comment 1,375,084 1,126,615 Foreign sell haven (3,473) 44,100 Profit and detriment comment (1,169,345) (877,837) SHAREHOLDERS' FUNDS 246,003 323,538 The monetary statements have been rebuilt in suitability with the special supplies relating to companies subject to the small companies system of administration inside of Part fifteen of the Companies Act 2006 and in suitability with the Financial Reporting Standard for Smaller Entities (effective Apr 2008). The monetary statements were authorized and certified for emanate by the house and were sealed on the interest on 16 November 2010. Timothy Hearley John Killer Director Director COMPANY BALANCE SHEET AS AT 31 DECEMBER 2009 2009 2008 £ £ £ £ FIXED ASSETS Investments 21,887 1,887 CURRENT ASSETS Debtors 1,598,599 879,635 Cash at bank 49,322 9,266 1,647,921 888,901 CREDITORS: amounts descending due inside of one year (13,381) (15,928) NET CURRENT ASSETS 1,634,540 872,973 TOTAL ASSETS LESS CURRENT LIABILITIES 1,656,427 874,860 CREDITORS: amounts descending due after some-more than one year (507,490) - NET ASSETS 1,148,937 874,860 CAPITAL AND RESERVES Called up share collateral 43,737 30,660 Share reward comment 1,375,084 1,126,615 Profit and detriment comment (269,884) (282,415) SHAREHOLDERS' FUNDS 1,148,937 874,860 The Directors do not suggest the remuneration of a division for this period. The on top of formula have been an remove from the full audited monetary statements. A full chronicle of these total can be found on the Report and Accounts territory of the Company on the PLUS website. The review inform in apply oneself of the year finished 31 Dec 2009 includes the following matter from the Company's auditors: "Emphasis of Matter" In combining the opinion, we have deliberate the endowment of the avowal done the in the Going Concern as detailed below from the monetary statements connected with the reduction in producing cashflow and alternative forecasts. In perspective of the stress of this doubt we cruise which it should be drawn to your courtesy but the perspective is not qualified in this respect. GOING CONCERN As minute in the Chairman's statement, the principal resources right away consists of the interests in the Stark's Dome field and associated resources operated by CSV Holdings Inc. The directors hold which these resources paint significant value and which there is the odds of clever cashflow building over the subsequent year. Unfortunately the directors have been incompetent to acquire cashflow projections from CSV Holdings Inc. and it appears expected which these will not be forthcoming for a little time. For this reason the directors have not been means to furnish forecasts enough to prove that the organisation is a going regard for the twelve months from the signing of these monetary statements. The Company has perceived monetary await from CSV Holdings Inc. permitting the Company to go on to operate. CSV Holdings Inc. has indicated which this await will go on until such time as the Company has lifted sufficient funds to work exclusively or has reached breakeven from operational cashflows. CAP ENERGY LIMITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 30th JUNE 2009 The Chairman presents his matter for the period. Cap Energy Limited is gratified to make known the unaudited halt formula for the 6 months to thirty Jun 2010. The Company has done a detriment for the duration of GBP 103,470 for the reasons some-more entirely described in the Chairman's Statement above. UNAUDITED CONSOLIDATED PROFIT AND LOSS ACCOUNT For the duration finished thirty Jun 2010 6 Months finished 6 Months Year ended Jun 2010 finished December Jun 2009 2009 Unaudited Unaudited Audited GBP GBP GBP TURNOVER 3,278 31,935 38,493 Cost of sales (2,129) (33,334) (37,048) GROSS PROFIT/ (LOSS) 1,149 (1,399) 1,445 Administrative losses (35,955) (37,269) (83,164) Depreciation of bound resources (33,333) (46,608) (98,742) Exceptional executive credits/ -expenses 0 20,647 (104,986) OPERATING (LOSS) (68,139) (64,629) (285,447) Amounts created off investments (5,000) 0 (5,000) Interest on credit (30,601) 0 (1,061) LOSS ON ORDINARY ACTIVITIES BEFORE TAXATION (103,740) (64,629) (291,508) Tax on detriment on typical activities - - - LOSS ON ORDINARY ACTIVITIES AFTER TAXATION (104,740) (64,629) (291,508) Earnings/ (Loss) per share GBP(0.01) GBP(0.01) GBP(0.038) UNAUDITED CONSOLIDATED BALANCE SHEET 6 Months 6 Months Year ended As at thirty Jun 2010 finished finished Dec 2009 Jun 2010 Jun 2009 Audited Unaudited Unaudited GBP GBP GBP Fixed resources Tangible bound resources 622,489 818,362 617,604 Fixed item investments 15,000 0 20,000 637,489 818,362 637,604 Current resources Debtors 67,038 2,584 74,002 Cash at bank 25,163 6,231 60,000 92,201 8,815 134,002 Creditors descending due inside of one year (35,864) (559,453) (18,113) Net stream assets/ (liabilities) 56,337 (550,638) 115,889 Total resources reduction stream liabilities 693,826 258,909 753,493 Creditors descending due after some-more than one year (507,490) 0 (507,490) Net resources 186,336 258,909 246,003 Capital and pot Called up share collateral 43,737 30,661 47,737 Share reward comment 1,375,084 1,126,614 1,375,084 Foreign sell haven 40,597 44,099 (3,473) Profit and detriment comment (1,273,082) (942,465) (1,169,345) Shareholders' supports 186,336 258,909 246,003 The halt formula for the 6 months finished thirty Jun 2010 have been reviewed by the Company's auditor. The Directors of Cap have been obliged for the essence of this announcement. Contact details: John Killer, Managing Director Cap Energy Limited John Killer Tel: 07979 903673 Corporate Advisers: St Helens Capital Partners LLP Duncan Vasey or Mark Anwyl Tel: 020 7368 6959