Coms plc (LSE:COMS.L), Regulatory News (RNS)

Interim results for the six months ended 31 July 2006

Chairman's Statement
The Board of Coms plc ('Coms.Com' or the 'Company') is pleased to present the interim results for the period ended 31 July 2006.

Introduction
During the period, the Directors entered into an agreement to purchase Coms Ltd. This transaction and the associated placing was completed on the 6 of September and the Company was renamed from Azman plc to Coms plc.

The results for this period are consistent with Azman's status as an investment company, or cash shell, and no income was generated other than interest on deposited funds.

Financial review
As of the 31 of July, the Company had a cash balance of £0.43 million. On 6 September, the successful placing of 1p Ordinary Shares raised an additional £1.22 million before expenses.

Trading outlook
The Board believes the emergence of Internet telephony is revolutionising the telecoms industry, creating major opportunities for an innovative telecoms company such as Coms.Com.

We have an experienced board that includes Terry Martin, previously sales director of Apple Computers (UK) Limited and Richard Bennett, a co-founder of JFAX/J2 Inc, the leading unified messaging telecoms service.

Coms.Com has developed its own propriety VoIP technology platform and has been generally authorised as a Public Electronic Communication Network by Ofcom. Ofcom has allocated Coms.Com 1.4 million numbers in the top 178 UK geographic area codes by population which Coms.Com principally intends to use for VoIP services, which is expected to be official launched in the near future.

Jason Drummond
Chairman

Contacts:

Coms plc
Tel: +44 (0)20 7148 3148
Richard Bennett, Corporate Development Officer

Holborn PR
Tel: +44 (0)20 7929 5599
Trevor Philips

Consolidated profit and loss account for the six months ended 31 July 2006

	COMS PLC Profit and Loss Account For the six months to 31 July 2006
	Unaudited Six months to 31 July 2006	Audited 13 January 2005 to 31 January 2006	Unaudited 13 January 2005 to 31 July 2005
	£'000	£'000	£'000
Turnover	-	-	-
Administration expenses	(71)	(45)	(15)
Operating Loss	(71)	(45)	(15)
Interest received	7	12	4
Interest received	7	12	4
Loss on ordinary activities before taxation	(64)	(33)	(11)
Taxation	-	-	-
Loss on ordinary activities after taxation	(64)	(33)	(11)
Dividends	-	-	-
Deficit for the period	£(64)	£(33)	£(11)
Earnings per 2 shares: Basic and diluted	(0.05p)	(0.03p)	(0.01p)

The company's operating loss arises from continuing operations.

There were no recognised gains or losses other than those recognised in the profit and loss account above.

	COMS PLC Balance Sheet as at 31 July 2006
	Unaudited 31 July 2006	Audited 31 January 2006	Unaudited 31 July 2005
	£'000	£'000	£'000
Current Assets
Debtors	6	8	14
Cash at bank and in hand	433	448	457
	439	456	471
CREDITORS: amounts falling due within one year	(60)	(13)	(5)
Net assets	£379	£443	£466
Capital and Reserves
Called up share capital	122	122	122
Share premium account	354	354	355
Profit and loss account	(97)	(33)	(11)
Equity shareholders' funds	£379	£443	£466

		COMS PLC Cash Flow Statement For the six months to 31 July 2006
		Unaudited Six months to 31 July 2006	Audited 13 January 2005 to 31 January 2006	Unaudited 13 January 2005 to 31 July 2005
	Note	£'000	£'000	£'000
Cash outflow from operating activities	3	(22)	(40)	(24)
Return on investment and servicing of finance		7	12	4
Financing - Issue of shares net of expenses		-	476	477
Cash(decrease)/increase in the period		£(15)	£448	£457

	Reconciliation of movements in shareholders' funds
	£'000	£'000	£'000
Deficit for the period	(64)	(33)	(11)
New share capital subscribed, net of expenses	-	476	477
	(64)	443	466
Opening shareholders' funds	443	-	-
Closing shareholders' funds	£379	£443	£466

1. Accounting Policies

The interim report has been prepared using accounting policies consistent with those set out in the Company's Annual Report and accounts for the period ended 31 January 2006.

This interim report for the six months to 31 July 2006 was approved by the Board on October 2006.

These unaudited accounts do not constitute statutory accounts within the meaning of Section 240 of the Companies Act 1985.

This Interim Report was neither audited nor reviewed by the auditors.

The comparative figures for the period ended 31 December 2005 have been extracted from the Group's statutory accounts for the financial year. Those accounts have been reported on by the Company's auditors and delivered to the Registrar of Companies.

The report of the auditors was unqualified and did not contain a statement under section 237(2) or (3) of the Companies Act 1985.

2. Loss per Share

	Reconciliation of movements in shareholders' funds
	Unaudited Six months to 31 July 2006 Pence	Audited 13 January 2005 to 31 January 2006 Pence	Unaudited 13 January 2005 to 31 July 2005 Pence
Earnings per ordinary share
Basic and diluted	(0.05p)	(0.03p)	(0.017p)

The loss per ordinary share is based on the company's loss for the period of £64,000 (losses: 31 January 2006 - £33,000; 31 July 2005 - £11,000) and a weighted average number of shares in issue of 121,750,000, (31 January 2006 - 116,075,549: 31 July 2005 - Basic 116,075,549).

3. Reconciliation of operating loss to net cash outflow from operating activities.

	Unaudited Six Months to 31 July 2006	Audited 13 January 2005 to 31 July 2006	Unaudited 13 January 2005 to 31 July 2005
	£'000	£'000	£'000
Operating loss	(71)	(45)	(15)
Decrease/(Increase) in debtors	2	(8)	(14)
Increase in creditors	47	13	5
Net cash outflow from operating activities	£(22)	£(40)	£(24)

4. The Board is not recommending the payment of an interim dividend at this time.

5. Copies of this interim statement are available from the Company at its registered office at Finsgate, 5-7 Cranwood Street, London, EC1V 9EE.