Fast Bet Solutions Plc
LSE : FBSP

February 29, 2012 02:00 ET

Unaudited Final Results ? Further Background

                                          Fast Bet Solutions Plc
                                       ("Fast Bet" or the "Company")  
                                                                      
                               Unaudited Final Results - Further Background
                                                     
The Company would like to provide further background in relation to the Unaudited Final Results announcement 
made yesterday, 28 February 2012. There are a number of items in the comparative figures from 2010 which are
different from the numbers announced and published by the Company during 2011. These differences are the
result of changes in the way the Company, in conjunction with its accountants, viewed some of the expense
items. Specifically, the Directors considered that some of the expenses that last year were attributed to
discontinued operations should be attributed to continuing operations to ensure a proper comparison between
the cost of continuing operations in the two years.

In addition, the directors decided to show the results from discontinued operations as one line on the
income statement.  This will be backed up by a note to be included in the statutory accounts showing the
make-up of the amount shown on the face of the income statement.

The Company intends to release audited numbers at the middle of March.

Finally, the directors would like to reiterate that due to the nature of the business being with limited
funds available, it is likely that additional fundraisings will be needed for the Company to be a going
concern for the foreseeable future. This   issue   will  be  clarified  as  and  when  the  Final  Accounts
are  audited.  The directors   will therefore update the market accordingly.



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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



Contact Information

  • Fast Bet Solutions Plc