Anyone have any thoughts on potential SP for TAD?

1p

Dil, you will never see 1p anymore for TAD...dream on

i wouldnt bank on it....tad is a nasty bugger, just when you think youre at the bottom of a ladder you discover its the top of a bloody long snake.

the signs this time around seem very good though. just hope some of the original tadders made/will make a few quid after our long held MS dream finally happened.

i think the main spike has occurred and tad may just drift up or down for a while yet.
another piece of good news will see 50% or more imo, and who knows, it could be tomorrow or next year.
cant even successfully trade it with the massive spread

good luck all

TAD will motor on upwards now that Microsoft is using its patents.

hlyeo98: that is an optimistic view, to say the least. Do you know what the patents are, and the details of the licensing agreement? Do you know what Microsoft products are affected?

Sorry lads but I bought in on Friday with loads of others and everything that I touch seems to go down.

Hopes are dashed once again.
Suckered is the word!!

time to sell!!!!!!!!!!!

1p here we come

TADPOLE's report very encouraging...


Tadpole Technology plc
Interim Report
31 March 2007

Corporate Summary

Tadpole Technology plc ('Tadpole') is an application software and solution
provider with two operating divisions; Streaming and Geospatial Solutions.


The Streaming Division offers packaged systems integration, licensing and OEM
solutions based on its patented applications streaming technologies. End
customers benefit from these technologies by reducing the cost of ownership of
their computer environments whilst improving their ability to manage, deploy,
control and monitor their users' requirements. Headquartered in Irvine,
California, the division supports customers in North America, Japan and Europe.

Customers include Parsons Engineering, Wyse Technologies, Softbank, Microsoft
and Citrix.


The Geospatial Solutions Division provides innovative solutions that focus on
the integration of geospatial information with data acquisition, dissemination
and management information tools. Through these solutions customers gain
improved reliability, access and confidence in their asset data and systems
which underpin critical operational activities. Headquartered in Edinburgh,
Scotland, the division services its international client base directly and
through partners, offering both packaged and consultancy-based solutions.

Customers include Ordnance Survey GB, United Utilities, ScottishPower, BP and
ESSO.


Business and Financial Review

Group Financial Highlights

Operating results

The Group reports an operating profit of 539,000 in the first half year,
compared with an operating loss of 404,000 in the same period last year.
Revenues declined by 9% to 4,658,000 due primarily to lower revenues from
Ordnance Survey. However, gross margins improved substantially due primarily to
a greater proportion of high margin streaming licenses in the revenue mix.
Operating expenses were reduced by 12% to 2,652,000.

Balance Sheet and Funding

Notwithstanding the operating profit, the cash received from licensing
agreements and signature of a new contract with Ordnance Survey GB, the
Directors continue to evaluate the possible need for additional funding to
finance the planned investments in product development, sales and marketing for
the Streaming Division.

Cash flow

Net cash generated from operating activities in the first half was 1,248,000
compared with 2,000 in the first half last year. After repaying the DivestCap
$1.5 million loan note (763,000 repaid compared with 842,000 received due to a
favourable foreign exchange movement over the past year), the Group closed the
half year with cash resources of 2,188,000.

Streaming Division

Operating results

Revenues in the first half year grew by 75% to 1,993,000 compared with
1,139,000 in the first half last year and operating expenses were reduced by
12% to 1,358,000, resulting in a significant improvement in operating
profitability from an operating loss of 408,000 to an operating profit of
605,000.

Sales, marketing & product development

The Division signed and announced two major licensing agreements with Microsoft
and Citrix in March 2007. In compliance with International Financial Reporting
Standards ('IFRS'), certain revenues arising from the licensing agreements were
recognised in the first half and certain revenues were deferred and will be
recognised in the second half. Revenues from Softbank continue to be recognised
based on the agreement signed in 2004.

A distribution agreement with ActivAeon to integrate and market AppExpress
together with ActivAeon's resource and user management software was announced in
September 2006.

The Division has focussed its marketing efforts on the 'Endeavors' brand and the
'StreamTheory' brand has been discontinued. As a consequence, new marketing
collateral and a new web site were created during the last quarter of calendar
2006. A new 'try before you buy' download and evaluation centre is being created
and will be live before the end of June 2007. Ongoing revision to the main
website, new micro-sites, press and analyst relationship management and case
studies will be key activities for the remainder of the year.

The Division continues to reposition itself as a major licensor of technologies
and is embarking on a number of initiatives to increase awareness of application
streaming and specifically to increase significantly the number of AppExpress
clients and servers that are deployed in the market. Product and marketing
programmes supporting this strategy will be launched in the second half of the
year.

Previous activities in the games content and aggregation arena have been
terminated along with associated personnel. However, the Division sees
opportunities for supplying its technologies to others to integrate in their
on-demand games environments.

The Division has commenced an integration project to deliver a combined product
and technology platform. This will be based primarily on the AppExpress code
base and will reduce support and engineering costs as well as offering improved
and extended functionality. The first release is scheduled for the first
calendar quarter of 2008.

In support of these initiatives, a new 'product based' marketing organisation
has been created and a new European sales and support team has been recruited.
The engineering team has been re-structured into a matrix model, capable of
supporting multiple engineering initiatives simultaneously. Customer support has
been improved and the Division expects to make a number of additional
appointments in the engineering, support and service functions.

During the first half year, the Division had 1 patent granted and filed 4
others, bringing its patent portfolio to 8 patents granted and 25 pending.
Potential litigation to protect the Division's intellectual property is still
pending with AppStream and Exent.

Outlook

The increasing number of new sales and collaboration opportunities being
generated by the new team is encouraging. However, it will take a significant
period of time for the sales pipeline to develop the depth and breadth to
generate a solid and predictable revenue stream. In the intervening period,
revenues will continue to be 'lumpy' and difficult to predict as regards amount
and timing. Second half revenues are likely to be lower than in the first half.
This likely drop in revenues, together with a planned expenditure increase on
additional resources, is expected to reduce the Division's operating result in
the second half compared with the first half.

The high profile acquisition of Softricity by Microsoft, the proposed
acquisition of Appstream by Symantec and the launch of Citrix's Tarpon
application streaming product has stimulated customer and vendor awareness and
increased the credibility of the sector. Publicity arising from the Microsoft
and Citrix licensing agreements and an unconnected article in Computer World
describing Parsons Engineering's positive experience of using AppExpress has
generated a significant increase in awareness of the Division with a
corresponding increase in potential customer and partner engagements.

Geospatial Solutions Division

Operating results

Revenues in the first half declined by 33% to 2,665,000 compared with
3,995,000 in the first half last year, due primarily to a reduction in billing
to Ordnance Survey GB ('OS'). However, as a result of the prompt cost
realignment action taken, percentage margins improved from 37% to 45% and gross profit reduced by only 270,000. Operating expenses decreased from 1,130,000 to 1,008,000 and the resulting operating profit fell from 338,000 to 190,000, after charging a one-off cost of 75,000 in respect of redundancies. The operating profit in the first half of both years included an operating loss
incurred by Tadpole Cartesia, Inc. of 344,000 in 2006 and 219,000 in 2007.

Sales, marketing & product development

In November 2006 it was announced that OS had suspended, on one month notice,
two of the major work-streams in connection with the development of the Phoenix
programme, pending a strategic review. On 29 March 2007, the Division signed a
framework services contract with OS for the continuation of the Editor work-
stream. The review by OS of the options for the Phoenix programme is still
on-going.

Revenue has also been generated from a number of other existing clients. In
addition to the renewal of maintenance and support agreements, the Division won
new contracts for additional software development or licences from HM Land
Registry, Veolia (Three Valleys Water) and ScottishPower. Further opportunities
are anticipated that leverage the Division's Go!Sync technology and expertise in
the latest ESRI Inc. technologies gained through the OS Phoenix programme.

The growth of the Division's business profile in the process industry sector
(oil, gas and petrochemical) is encouraging. New contracts for the iPlan product
suite have been signed with BP for site maintenance systems, and another for an
interactive map-based site record system. The contract to host the ESSO pipeline
manager has been extended and additional functionality delivered. The Division
exhibited at the Industrial Fireworld conference in Texas, and future events in
Europe, North America and the Middle East are planned. The sector currently has
a very high media profile, particularly with regard to asset integrity and
maintenance, and emergency pre-planning and response. The scope of the market
opportunity is being evaluated and may result in the Division seeking additional
investment in sales, marketing and the iPlan product portfolio to capitalise on
these opportunities.

Sale of Tadpole Cartesia, Inc.

During the first half, the decision was taken to sell Tadpole Cartesia, Inc.
('TCI') to its President, Jason Linley. The transaction was concluded on 18
March 2007 and was classified under the FSA's class tests as a class 2
transaction, and as such did not require shareholder approval. The entire fully
paid-up share capital of TCI was sold for a nominal consideration of $1. Under
the terms of the transaction, Tadpole retains the intellectual property in the
Go!Sync product suite, and receives from TCI (now trading as TCTechnology,
'TCT') a royalty of 50% of the reseller list price for all Go!Sync licences sold
by TCT. The agreement grants TCT exclusivity within the North American market
provided that certain annual licence sales targets are maintained. This will
allow Tadpole to continue to operate in the US market, albeit through a new and
independent distribution channel.

TCI has incurred losses since its formation and to develop the business in line
with the Group's 3 year plan would have required further investment. This
transaction has allowed the Division to reduce costs and uncertainties around
cash flows by eliminating its exposure to TCI's funding requirements whilst
still enabling it to participate in any long term value created by the Go!Sync
product range. With the limited funding available to the Group, this will allow
additional investment in other opportunities including the Streaming business
and the iPlan product suite.

Outlook
In the second half, a further substantial reduction in revenues is anticipated
as the impact of the suspended OS work streams takes full effect. However, due
to a combination of improved margins, cost reduction actions already taken and
the sale of the loss making US subsidiary, the Division is expected to maintain
profitability and cash flows.

Things happening at Interop