Final Results

MILESTONE GROUP PLC

                          "Milestone" or the "Company"

                                 Final Results

Milestone Group PLC (AIM: MSG), the AIM quoted digital solutions and technology
agency, announces its Final Results for the year ended 30 September 2010.

Highlights of the year

  * Financial highlights: revenue produced
  * Investment in JumpStart Wireless Corporation and Ve Interactive Ltd
  * Reseller agreements with JumpStart Wireless and Ve Interactive
  * Key personnel: appointment of Guy van Zwanenberg as Finance Director


Deborah White, CEO, said: "2010 was a year of transition and while significant
steps were taken to transforming the Company into a digital solutions provider,
progress was slower than anticipated.  As a result, for the year ahead the focus
is to build on the progress made in 2010 and in particular, to develop the
Group's revenue streams and to strengthen the Company's financial position."

In accordance with Rules 20 and 26 of the AIM Rules for Companies, the Annual
Report and Financial Statements for the financial year ended 30 September 2010
and the notice of the annual general meeting have been sent to shareholders
shortly and will also be available on the Company's website


http://www.milestonegroup.co.uk/circulars.html.  The Company's annual general
meeting will be held at the offices of Lawrence Graham LLP, 4 More London
Riverside, London SE1 2AU, at 11.00 a.m. on Monday 28 March 2011.


 FOR FURTHER INFORMATION:


 Milestone Group PLC
 Deborah White, Chief Executive    Tel: [phone]



 Strand Hanson Ltd, NOMAD
 Richard Tulloch / David Altberg   Tel: [phone]



 Hybridan LLP, Broker
 Claire Louise Noyce               Tel: [phone]


                              Chairman's Statement




Financial Summary

The Group is pleased to announce it has generated sales from website and smart-
phone application development in the year of £56,752 (2009: nil). However, the
transition of the Company to a digital solutions provider has taken longer than
anticipated which has impacted the Group's ability to generate revenues. In
addition, as a result of the interest shown in the JumpStart technology, the
Company has been targeting larger companies than initially planned, which has
resulted in longer lead times due to their procurement processes being a minimum
of 6-9 months. Despite generating its first revenues under the new strategy, the
Group made a loss for the year of £1,225,480 (2009: loss of £392,002), due to
the costs associated with establishing the business as a provider of digital
solutions as well as the associated costs of dealing with historical issues.

Balance sheet net liabilities at the year end were £1,027,031 (2009: net
liabilities £410,637).  The significant increase was due to an increase in trade
and other payables to £837,289 (2009: £373,424) and an increase in short term
borrowings which increased to £392,300 (2009: £50,000).  These increases were
offset by an increase in the Group's assets as a result of its investments in
JumpStart Wireless Corporation and Ve Interactive Ltd. However, since the year
end, the Company's net liabilities have been reduced significantly through a
number of equity placings, which raised an additional £580,000, as well as the
conversion of £150,000 of interest bearing loans and £25,000 of trade and other
payables into new shares and also the issue of new shares in respect of £320,000
of accrued but unpaid remuneration and the settlement of discretionary awards
due to certain Directors.


These results are presented under Adopted International Financial Reporting
Standards ("Adopted IFRS").

Investments and reseller agreements

In October 2009, the Company entered into two reseller agreements with JumpStart
Wireless Corporation and Ve Interactive Ltd.

The Company secured the distribution rights for JumpStart's mobile enterprise
application software solutions in the UK in return for a strategic equity
investment of £61,713 in JumpStart Wireless Corporation. JumpStart's innovative
technology is a cost-effective solution to transform any mobile device into a
reporting tool for employees working remotely from company premises.

The Company also entered into a UK distribution agreement with Ve Interactive
Ltd., a leading provider in the Online Shopping Cart Abandonment solutions
market, in return for a strategic equity investment of £101,111. Online Shopping
Cart Abandonment solutions are specialised, web-based solutions for e-vendors to
improve sales conversion from abandoned shopping carts. Converting even a small
percentage of those abandoned shopping carts into sales represents significant
value to e-vendors.

Moving Forward

The technology and media sectors are changing rapidly, with new overlaps and
opportunities being created at an unprecedented rate. The "age of austerity" has
forced businesses across Europe to rethink their IT and technology expenditure
and strategies in order to leverage benefit from existing assets, or to purchase
technology more wisely than before (Source: Digital Britain Report June 2009).

Additionally, the USA is investing heavily in cyber-security and technological
growth, with the UK striving to become the global trend-setter for digital
advancement (Source: Digital Britain Report June 2009). Milestone believes that
these factors have combined to create an opportunity for a new breed of
consulting and solutions business.  It is the intention of Milestone that it
will help traditional businesses invest in and exploit technology and digital
media in new and strategically valuable ways to maximise business function
efficiencies whilst retaining control of their cost base.

The Board believes that they have identified an opportunity in the market place
where the specialist services offered, combined with the strengths of their
strategic partnerships and network across business could bring new possibilities
to the Company. While a significant proportion of the targeted sales will focus
on large companies, which inevitably have long lead times and procurement
processes, the Company is also seeking to generate revenues from smaller clients
in the nearer term.

Management Changes

In December 2009, Guy van Zwanenberg, who has significant experience of growing
small media businesses, agreed to step up to the Board as Finance Director and
he is a valuable member of the team.

During the year both John Sanderson and Mark Hargreaves stepped down from the
Board.  John had spent considerable time helping the transition of the business
and felt that his skills were best suited elsewhere.  Mark had joined the Board
during the year to help cultivate the relationship with Ve Interactive but as Ve
Interactive has grown, he felt he needed to focus solely on Ve Interactive Ltd
and hence he has had to step down from the Board of Milestone, although he
remains a firm ally of the Company.

Other matters

A significant shareholder in the Company has made certain allegations against
the Company and the Directors.  For the avoidance of doubt, no formal
proceedings have been brought against the Company or the Directors and the Board
is of the opinion that such allegations made against the Company and the
Directors are without any merit and would be vigorously defended in the event
that any formal claim was forthcoming.

Funding

During  the  year  the  Company  raised  additional  funds  in order to meet its
liabilities  and  to  provide  working  capital  through a combination of equity
issues  and new  interest bearing  loans. During  the year 38,769,779 new shares
were  issued  for  a  total  consideration  of  £609,087,  of which £411,000 was
received  in cash with the remainder being  issued to existing and new creditors
in exchange for goods or services received or in settlement of loan balances. In
addition, the Company raised net £307,500 through new interest bearing loans.

Since the year end, the Company has raised £580,000 in cash through the issue of
49,765,030 new shares and converted £150,000 of interest bearing loans and
£25,000 of trade and other payables into new shares in addition to issuing new
shares to certain Directors in respect of £320,000 of accrued but unpaid
remuneration and settlement of a discretionary award. As a result, the Group's
net liabilities have been reduced significantly since the year end.

In the short term, Milestone's focus is on strengthening its financial position
in order to create a stable position from which to grow the business and its
revenues. As such, until such time as the Company is generating revenues on a
consistent basis, the Company continues to be reliant on its ability to manage
the timing of settlement of its liabilities and to raise further funds in the
immediate to short term thereafter.

Potential further subscriptions

Protecting the interests of the Company's current shareholders is a priority and
the Board's strategy is to seek to raise funds on a basis which is fair to all.

During  the year the Company has raised a series of subscriptions to support the
Company's  working capital requirements. The Board was pleased with the appetite
which has been shown for these subscriptions and welcomes its new shareholders.

As set out above, the Company will likely have to raise further monies through
subscriptions for new shares in the immediate to short term thereafter and as
such, any enquiries in relation to participating in any further subscriptions
should be sent to the Company Secretary at the registered address or emailed to
him at [e-mail].

Outlook

The Board has a clear strategy for developing the Company and taking advantage
of opportunities as they arise. The Company has developed a pipeline of
potential sales and it is anticipated that this will lead to revenues within the
next 12 months. In addition, with the funds raised post the year end, the
creditor position has improved and while the Company is better placed to take
advantage of the changing media landscape, in the short term it continues to be
reliant on its ability to manage the timing of settlement of its current and
future liabilities and to raise further funds in the immediate to short term
thereafter.

In conclusion, we remain confident that during the coming year the Company will
take advantage of the changes that have taken place and consolidate its position
as a digital solutions provider.


Deborah White
Executive Director

                   Extracts from the Report of the Directors



Directors in the period

Deborah White, Executive Director
Guy van Zwanenberg, Finance Director (appointed 14 December 2009)
Anthony Moss, Non-Executive Director (appointed 30 July 2009)
John Sanderson, Non-Executive Chairman (appointed 1 February 2006, resigned 4
February 2010)
Stephen Mark Hargreaves, Non-Executive Director (appointed 7 April 2010,
resigned 16 November 2010)

Results and dividends

The  consolidated results of the  Group for the year  are set out below and show
the loss after tax for the year of £1,225,480 (2009: £392,002).

The directors do not recommend the payment of a dividend (2009: nil).

Principal activities, review of business and future developments

A review of the year is held within the Chairman's statement above.

The  Group  offers  its  shareholders  exposure  to  the  digital  media sector.
Milestone  brings together media practices and technology to deliver interactive
digital solutions across web, phone and portable media.

Key performance indicators ("KPIs")

Given  the nature of the  Group, no numerical financial  KPIs have been set. The
focus  for  the  Group  has  been  on  stabilising  its  financial position. The
transition  to a digital solutions provider has taken longer than expected which
has  impacted the Group's ability to generate revenues. In addition, as a result
of  interest shown in  the JumpStart technology,  the Company has been targeting
larger  companies than initially anticipated, which  has resulted in longer lead
times due to their procurement processes being a minimum of 6-9 months.

The  Board's focus is now a lot clearer  than it was 12 months ago and the Board
is  now concentrating on the provision  of digital solutions in various industry
sectors  such as security and logistics, although  we are by no means restricted
to these two vertical markets. The Board have set performance targets of winning
two major contracts by the year end of 30 September 2011.

Financial instruments and principal risks and uncertainties

The  Group had £357,500 of  interest bearing loans outstanding  at the year end.
The  Group's modest cash reserves during the  year were held in bank current and
deposit accounts.

This report contains certain forward looking statements with respect to the
principal risks and uncertainties facing the Group. These statements can be
identified by the use of forward looking terminology such as "believe", "could",
"expects", "plan", "anticipate", "envisage", "estimate", "intend", "should",
"may" or comparable terminology indicating expectations or beliefs concerning
future events. By their very nature, these forward looking statements involve
risk and uncertainty because they relate to events and depend on circumstances
that may or may not occur in the future. There are a number of factors that
could cause actual results or developments to differ materially from those
expressed or implied by these forward looking statements. The forward looking
statements reflect the knowledge and information available at the date of
preparation of this annual report and will not be updated during the year.
Nothing in this report should be construed as a profit forecast.

The  Directors consider cash flow to be the material financial risk to the Group
in  the immediate future. The Board intends that, as new projects are developed,
the material risks will be fully assessed.

Going concern

Whilst  the  Group  has  made  a  loss  in  the  year and had net liabilities of
£1,027,031  at the year end, the Board feel it is appropriate to adopt the going
concern   basis  in  preparing  the  annual  reports  and  accounts.  There  are
significant risks and uncertainties surrounding the going concern assumption.

Consolidated statement of comprehensive income for the year ended 30 September
2010


                                                                  2010      2009

                                                                     £         £



Revenue                                                         56,752         -



Cost of sales                                                 (32,625)         -



Gross profit                                                    24,127         -



Other operating income                                               -     9,268

Administrative expenses                                    (1,135,749) (392,664)



                                                           (1,135,749) (383,396)



Loss from operations                                       (1,111,622) (383,396)





Finance expense                                              (113,782)         -

Finance income                                                       6        20



Loss before taxation                                       (1,225,398) (383,376)



Taxation expense                                                     -         -



Loss from continuing operations                            (1,225,398) (383,376)



Loss on discontinued operations net of
tax                                                               (82)   (8,626)



Total comprehensive
loss                                                       (1,225,480) (392,002)



Attributable to owners of the parent                       (1,225,480) (392,002)



Basic and diluted loss per share from continuing
operations (pence)                                              (1.17)    (0.56)

Basic and diluted loss per share from discontinued
operations (pence)                                                   -    (0.01)



Total basic and diluted loss per share                          (1.17)    (0.57)


Consolidated statement of financial position at 30 September 2010
                                                               2010         2009

                                                                  £            £



Non-current assets

Goodwill                                                          -            -

Investments                                                 162,824            -

Property, plant & equipment                                   741              -

                                                            163,565            -

Current assets

Trade and other receivables                                  39,745        2,462

Cash and cash equivalents                                         -       10,325

                                                             39,745       12,787



Current liabilities

Bank overdrafts                                               (752)            -

Trade and other
payables                                                  (837,289)    (373,424)

Interest bearing loans                                    (392,300)     (50,000)

                                                        (1,230,341)    (423,424)



Net liabilities                                         (1,027,031)    (410,637)



Capital and reserves attributable to owners of the
Company

Share capital                                               127,067       88,298

Share premium account                                     9,050,141    8,479,824

Merger reserve                                           11,119,585   11,119,585

Capital Redemption
Reserve                                                   2,732,904    2,732,904

Retained losses                                        (24,056,728) (22,831,248)



Total Equity                                            (1,027,031)    (410,637)





Consolidated statement of cash flows for the year ended 30 September 2010

Cash flow from operating activities

                                                         2010        2009

                                                            £           £



Loss for the year                                 (1,225,480)   (392,002)

Adjustments for:

Depreciation of tangible assets                           365           -

Profit on disposal of property, plant and                           (597)
equipment                                               -

Net bank and other interest charges                    47,305        10

Profit on sale of discontinued operations net                           -
of tax                                                      -

Issue of share options                                      -       4,800

Issue of financial liabilities                         66,471           -

Recognition of negative goodwill                            -           -



Net loss before changes in working capital      (1,111,339)   (387,789)



Decrease/(increase) in trade and other                             68,690
receivables                                          (37,283)

(Decrease)/increase in trade and other payables     560,480    (89,284)



Cash from                                       (588,142)       (408,383)
operations



Interest received                                           6          20

Interest paid                                        (12,511)      (30)



Net cash flows from operating                     (600,647)     (408,393)
activities



Investing
activities

Acquisition of Investments                          (162,824)           -

Purchase of property, plant and
equipment                                             (1,106)           -

Sale proceeds of property, plant and equipment              -         597



Net cash flows used in investing activities         (163,930)       597



Financing
activities

Issue of ordinary share capital                     411,000     356,500

Repayment of loan                                   (3,000)      (10,000)

New loans raised                                    345,500      60,000



Net cash flows from financing
activities                                            753,500   406,500





Net decrease in cash                                 (11,077)   (1,296)

Cash and cash equivalents at beginning of
period                                                 10,325      11,621



Cash and cash equivalents at end of period              (752)      10,325






Consolidated statement of changes in equity for the year ended 30 September 2010



              Share       Share     Merger     Capital    Retained     Total
              Capital     Premium   Reserve    Redemption Earnings     Equity
                                               Reserve

                        £         £          £          £            £           £



Balance at
30 Sept 2008    2,790,795 8,023,012 11,119,585          - (22,444,046)   (510,654)



Total
comprehensive                                                (392,002)
income                  -         -          -          -                (392,002)

Shares issued      30,408   456,812          -          -            -     487,220

Share options
granted                 -         -          -          -        4,800       4,800

Repurchase of
deferred
share capital (2,732,905)         -          -  2,732,904            -           -



Balance at
30 Sept 2009       88,298 8,479,824 11,119,585  2,732,904 (22,831,248)   (410,637)



Total
comprehensive                                              (1,225,480)
income                  -         -          -          -              (1,225,480)

Shares issued      38,769   570,317          -          -            -     609,086

Share options
granted                 -         -          -          -            -           -

Repurchase of
deferred
share capital           -         -          -          -            -           -



Balance at
30 Sept 2010      127,067 9,050,141 11,119,585  2,732,904 (24,056,728) (1,027,031)


The accompanying accounting policies and notes form an integral part of these
financial statements.

Notes (forming part of the financial statements)

1 Accounting policies

Basis of preparation

Milestone Group plc is a company registered and resident in England and Wales.

These financial statements were authorised for issue by the Board of Directors
on 28 February 2011.

The Group financial statements consolidate those of the Company and its
subsidiaries (together referred to as the 'Group').

The parent company financial statements present information about the Company as
a separate entity and not about its group.

The Group financial statements have been prepared and approved by the Directors
in accordance with International Financial Reporting Standards as adopted by the
EU ('Adopted IFRSs').

The financial information set out in this announcement does not constitute the
Group's statutory accounts, as defined in Section 435 of the Companies Act
2006, for the years ended 30 September 2010 or 30 September 2009, but is derived
from the 2010 Annual Report. Statutory accounts for 2009 have been delivered to
the Registrar of Companies and those for 2010 will be delivered in due course.

The consolidated statement of comprehensive income, consolidated statement of
financial position, consolidated cashflow, consolidated statement of changes in
equity (above) and associated notes are extracts from the financial statements
and do not constitute the group's statutory accounts.

Statutory accounts for the year to 30 September 2009 and 30 September 2010 have
been reported on by the Independent Auditors. The Independent Auditors' Report
on the Annual Report and Financial Statements for 2009 was unqualified, but did
draw attention to matters by way of emphasis relating to the basis of
preparation. This emphasis drew attention to the Company's ability to manage the
timing of settlement of liabilities associated with its previous activities. It
noted that a material uncertainty existed which cast significant doubt about the
company's ability to continue as a going concern. The Independent Auditors'
Report on the Annual Report and Financial Statements for 2010 was unqualified,
but did draw attention to matters by way of emphasis relating to the basis of
preparation which is reproduced below. This emphasis drew attention to the
Company's ability to raise funds and generate sales to satisfy liabilities
associated with its activities. It noted that a material remains which may cast
significant doubt about the company's ability to continue as a going concern.
The basis of preparation is reproduced below.

Going concern

The Group's business activities, together with the factors likely to affect its
future development, performance and position are set out in the Chairman's
statement.

The net liability balance sheet position as at 30 September 2010, being the
Company's financial year-end, was £1,027,031 (2009: £410,637).  Subsequent to
the balance sheet date, the Board has been able to agree funding in the form of
further share issues raising £580,000 in cash and converted £150,000 of interest
bearing loans and £25,000 of creditors into new shares in addition to issuing
new shares in respect of accrued but unpaid remuneration and the settlement of a
discretionary award to certain Directors. The Company is however reliant on its
continuing ability to manage the timing of settlement of its current and future
liabilities and further fundraising will be required in the immediate to short
term thereafter.  As such, the Directors intend to strengthen the Company's
financial position through a combination of further fundraises in the immediate
to short term thereafter and subsequently from proceeds generated from trading
activities.

The future business model is based around generating revenue from two areas
being the provision of digital solutions and commissions from the sale of the
JumpStart and Ve Interactive products, both of which have taken considerably
longer to convert than previously anticipated.  As a result the Board has
prepared forecasts to reflect this and the agreements that have or are expected
to be entered into.  These forecasts show the business being profitable and cash
generative in the future.  However, achieving these forecasts will be dependent
upon achieving sales and obtaining sufficient funding to settle existing and
future obligations.

The Directors have concluded that the need to generate future funds from either
further fundraising or from trading activities to satisfy the settlement of its
ongoing and future liabilities represents a material uncertainty, which may cast
significant doubt upon the Group's and the Company's ability to continue as a
going concern.  Nevertheless after making enquiries and considering this
uncertainty and the measures that can be taken to mitigate the uncertainty, the
Directors have a reasonable expectation that the Group and the Company will have
adequate resources to continue in existence for the foreseeable future.  For
these reasons they continue to adopt the going concern basis in preparing the
annual report and accounts.  The financial statements do not include any
adjustments that would result if the Group and Company was unable to continue as
a going concern.

2 Critical accounting judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make
estimates and assumptions that affect the reported amounts of revenues,
expenses, assets and liabilities, and the disclosure of contingent liabilities
at the date of the financial statements.  If in the future such estimates and
assumptions which are based on management's best judgement at the date of the
financial statements, deviate from the actual circumstances, the original
estimates and assumptions will be modified as appropriate in the year in which
the circumstances change. Where necessary, the comparatives have been
reclassified or extended from the previously reported results to take into
account presentational changes.

Critical judgements in applying the Group's accounting policies

In the process of applying the Group's accounting policies, which are described
in note 1, management has made the following judgements that have the most
significant effect on the amounts recognised in the financial statements (apart
from those involving estimations, which are dealt with below).

Going concern

Management have considered that the Group remains a going concern.  The going
concern assumption is discussed further in Note 1.

Available for sale investments

Management have concluded that the investments held are fully recoverable and
are therefore included at cost, subject to no impairment.

3 Segment analysis

The Board have reviewed the requirements under IFRS8 Segmental Reporting and
have concluded that there is only one reportable segment for the Group. As a
result, no detailed disclosures have been presented on separate reportable
segments.



All of the Group's current operations are carried out in the UK.  The Group
therefore only has one geographical segment.

4 Revenue

Revenue in the year was £56,792 (2009: nil). The group is not reliant upon any
one customer to generate operational cash-flows. All revenue was generated from
the United Kingdom.

5 Tax on loss on ordinary activities


                                                                2010        2009

                                                                   £           £



Loss from operations before tax                          (1,225,480)   (392,002)



Loss from operations at the standard rate of
corporation tax in the UK of 28% (2009:28%)                (343,134) (109,761)



Effects of:

Expenses not deductible for tax
purposes                                                      20,195    43,937



Capital allowances in excess of depreciation                     102    (45,843)



Short term timing differences                                 59,733           -



Unutilised tax losses and other deductions                   263,104     111,667



Current tax charge in the period                                   -           -

Deferred tax assets of approximately £1.27m (Group) and £1.27m (Company) have
not been recognised in the financial statements as there is currently
insufficient evidence to suggest that any deferred tax asset would be
recoverable. The Group has unutilised tax losses of approximately £4.7m (Company
£4.7m) which would be available to carry forward against future profits from the
same activity, subject to agreement by HM Revenue & Customs.

6 Dividend

No dividends have been paid or proposed in the year (2009: nil).

7 Loss per share

The calculation of the basic loss per share is based on the loss attributable to
ordinary shareholders divided by the average number of shares in issue during
the year. The calculation of diluted loss per share is based on the basic loss
per share, adjusted to allow for the issue of shares and the post tax effect of
dividends and interest, on the assumed conversion of all other dilutive options
and other potential ordinary shares.

There were 500,000 share options outstanding at the year-end (2009: 500,000).
However, the figures for 2010 and 2009 have not been adjusted to reflect
conversion of these share options as the effects would be anti-dilutive.

                                              2010                          2009

                                Weighted                       Weighted

                                                                             Per
                                 average Per share              average    share

                        Loss   number of    Amount      Loss  number of   amount

                           £      shares     Pence         £     shares    pence

Basic and
diluted loss per
share
attributable to
shareholders.    (1,225,480) 104,340,306    (1.17) (392,002) 68,094,035   (0.57)



8 Goodwill and intangible assets

Goodwill acquired in a business combination is allocated, at acquisition, to the
cash-generating units (CGUs) that are expected to benefit from that business
combination. Before recognition of impairment losses, the carrying amount of
goodwill had been allocated against the television division.

The recoverable amounts of the CGUs are determined from value in use
calculations.

During the year to 30 September 2006 the Company directors considered the
carrying value of goodwill and wrote the remaining value to nil.

Subsidiaries as at 30 September 2010 were:

  * Oxford Broadcasting Limited, analogue television broadcasting (held as
    disposed)
  * Milestone Media Limited, dormant
  * Nexstar League Limited, dormant


9 Property, plant and equipment

                      Short leasehold Fixtures and  Production

                             Property     Fittings  and Studio

                         Improvements    equipment   Equipment     Total

                                    £            £           £         £

Cost

At 1 October 2008              65,197      191,536     293,395   550,128

Disposals                    (65,197)   (39,336)   (293,395)   (397,928)



At 30 September
2009                                -      152,200           -   152,200



At 1 October 2009                   -      152,200           -   152,200

Additions                           -        1,106           -     1,106



At 30 September
2010                                -      153,306           -   153,306



Depreciation

At 1 October 2008              65,197      191,536     293,335   550,128

Disposed in year           (65,197)       (39,336)   (293,395) (397,928)



At 30 September
2009                                -      152,200           -   152,200



At 1 October 2009                   -      152,200           -   152,200

Charge for year                     -          365           -       365



At 30 September
2010                                -      152,565           -   152,565



Net book value

At 30 September
2010                              -          741           -       741

At 30 September
2009                              -            -           -         -


10 Available for sale investments
                             Total

                                 £

 Cost

 At 1 October 2009               -

 Additions               162,824

 At 30 September 2010      162,824



 Net book value

 At 30 September 2010      162,824

 At 30 September 2009            -



During the year, the Company made two trade investments to establish a strategic
relationship with two privately owned software vendors. 90,910 ordinary shares
of $1.10 each were acquired in Jumpstart Wireless Corporation at a cost of
£61,713. 26 ordinary shares were acquired in Ve Interactive Limited for a cost
of £101,111. These shareholdings constitute minority interests in the businesses
as part of the Group's strategic partnership and allow the Group to act as a
sales agent on behalf of their products. The Directors have no plans to dispose
of these assets.

The shareholdings at the year end constitute ownership no more than 3% of total
shareholdings in each entity. No fair value information has been disclosed. The
instruments are held within privately owned, unquoted businesses; as no active
market exists the directors are unable to arrive at a reasonable fair value for
the investments at the financial year end. Due to the nature of the assets the
Directors feel that credit risk relating to these assets is low. All assets are
denominated in sterling.

The directors have performed an impairment review at the year end on the basis
of recoverable value. The directors note that third parties continue to invest
in the two businesses above at a price in excess of the carrying value in the
financial statements at the year end.  The directors note that the investments
represent businesses who are developing exciting new technologies in their
field.

No impairment has been proposed.

11 Post balance sheet events

(i) Subscriptions and funding

Subsequent to the balance sheet date the Company announced subscriptions to
support the short term working capital requirements.

On 10 November 2010 the Company announced that it had agreed to issue
17,873,391 ordinary shares of 0.1p each for a cash consideration of £201,969.

On 25 November 2010 the Company announced that it had agreed to issue
24,408,061 ordinary shares of 0.1p each for a cash consideration of £275,811.

On 20 December 2010 the Company announced that it had agreed to issue 1,966,337
ordinary shares of 0.1p each for a cash consideration of £22,219.61, 15,000,000
ordinary shares of 0.1p each for the conversion of an outstanding loan together
with associated accrued interest amounting to £159,000, 400,000 ordinary shares
of 0.1p each to the Company's NOMAD for a deemed aggregate value of £5,000 and
28,318,584 ordinary shares of 0.1p each to certain Directors of the Company in
settlement of accrued but unpaid remuneration and a settlement of a
discretionary award.

On 31 December 2010 the Company announced that it had agreed to issue 5,517,241
ordinary shares of 0.1p each for a cash consideration of £80,000.

These transactions are not reflected in the financial statements since shares
were not issued and admitted to AIM for trading until after the balance sheet
date.

 (ii) Oxford Broadcasting Limited

On the 12 January 2011 an application was made to Companies House to strike off
Oxford Broadcasting Limited.







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