Result of AGM and Trading Update

 

TIDMBGT 
 
RNS Number : 5923B 
Bright Things plc 
29 October 2009 
 

Bright Things Plc 
Result of AGM and Trading Update 
 
 
Result of Annual General Meeting 
 
 
At the Annual General Meeting of Bright Things Plc ("Bright Things" or 
"Company") held at 10.00am today all of the resolutions proposed were passed 
unanimously. 
 
 
 
 
Trading Update 
 
 
SocialGO is an online platform that allows users to create their own fully 
featured, fully hosted, fully supported social network website dedicated to 
whatever they choose in under 2 minutes. 
Group members can communicate and share with each other just like they would on 
Facebook, but with added comfort of being amongst similarly minded people in a 
secure environment.  Amongst the extensive tools available to network creators 
are various mechanisms that allow network creators to make money from their 
community.  Many thousands of networks have been created to date and include 
schools, churches, sports clubs/teams, hobby groups, local communities, 
fansites, political parties, bands and entertainment. 
 
 
The company's main revenue stream derives from Premium customers who subscribe 
to our monthly service and from the sale of 'add-ons' such as themes and widgets 
(like the iPhone apps store). 
 
 
The market positioning of SocialGO is to aim at small businesses and 
organisations that wish to use social media to promote themselves or make 
revenue or raise funds for their group. In this way SocialGO 
differentiates itself from more consumer based products that rely upon large 
numbers of users to fuel advertising based revenue. Although SocialGO has many 
more free networks than Premium, these networks can act as a marketing tool to 
introduce the idea of using SocialGO to many people who may in turn become 
Premium customers. 
 
 
The Company's income has grown steadily from the first full month of operation 
(March 2009) and it now has, in addition to many thousands of users of the free 
service, over 1,000 premium customers paying us an average of approximately $50 
per month. 
There are many development initiatives being worked on that should continue to 
improve SocialGO and increase the features and functions, as the platform is 
further developed. The Company is not just striving to capture customers but 
also to retain them and help network owners run successful networks. 
 
 
The concept of creating your own social network is gradually taking hold, and 
whilst the directors of Bright Things are pleased with the progress made this 
year, they hope that the Company will continue to grow with the market as it 
develops and look forward to meeting the challenges this constantly evolving 
form of communication presents. 
 
 
 
 
Further Information: 
Bright Things PLC0845 299 7289 
Dominic Wheatley, CEO 
Edward Levey, Finance Director 
 
 
Astaire Securities Plc020 7448 4400 
William Vandyk 
 
 
www.brightthings.com 
http://www.socialgo.com/ 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
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