Small cap video games developer....swinging into profit....outlook good...cash in bank....starting to move....welcome anyone's comments and thoughts on this..

Highlights from Interims RNS
"Turnover for the six months ended 30 September 2003 was 1,062,000 compared with 633,000 in the same period last year. The profit (both before and after tax) for the half year was 23,000 compared with a loss of 556,000 in the same period last year

Visit Bits corporation website:
http://www.bitsstudios.com/default.asp

Caused by a margin call. Should bounce back.

Definate margin call and as such an opertunity. Amazing how over exposed people get and then take no action until too late when their hand is forced and we see what we are seeing.

Added some this morning.

i have a funny feeling that this is gonna fly,just my thoughts after seeing those two big trades

Looked like there was a buyer moping up stock in this today. After the sells this am it moved up on tiny buys as if all the stock had gone.

Rumours fund raising plans are now complete and news due this week or next. Should get a full update on the new Internet Gaming as well.

News coming, could see this start to challenge its recent high of 38p once again.

A good day, and a good rise. We need some news now this week or early next to back this up and allow further moves !

PapalPower I have heard the placing plans are nearly complete. I am expecting this to be a multibagger this year but DYOR.

B2B I share your optimism on good gains for BIT this year. The coming 5 weeks will see the news that will transform this company. I will keep adding more stage by stage over the next 5 weeks :)

Good to see some consolidation around the 24 to 25 bid level. It was less than yesterday, and if we can take out this level ahead of news then it should make the move back to previous highs quicker.

5 weeks time (end of Q1) this should be very much higher than today.

Bit of shake, and a bounce back.

PP

Do you have a med/long term price target?

MS

There are lots of them around for BIT, some say 100p by year end, I would be happy with half that, but open to a 100p target too.

This is one of PS's nap tips for 2006, and its got a strong following of respected investors, so I am in for some too.

EK (Simon Cawkwell) has a long position.

MS

mickeyskint thanks for that, there are a number of shall we say "wiser investors" who are long in BIT now, and I am following them ;)

Moved up again today on news of increases in holdings, again :)

And now making a move back again

Now we are getting CFD/SB rollovers out of the way I shall be adding some more on this little drop. Whatever it does short term, mid to long term is good I think, and even short term could see a return to previous levels.

Some news today from posts at AFN :

http://www.thisismoney.co.uk/investing-and-markets/tips-and-tactics/article.html?in_article_id=407639&in_page_id=23

bottom of page :


Bits Corporation eased p to 20p despite growing speculation that a deal is in the pipeline.


The company said in December that it is keen on establishing an online gaming presence. Dealers now hear that it is on the verge of acquiring a business from 888 Holdings (2p dearer at 186p) which will result in a change of name to Playwise.

and

I can confirm that a Bits sub has the name "Playwize". I investigated Companies House last year. The company was formerly named Bits Gaming. The name was changed on 28th November 2005.

and

The domain 'www.playwize.com' is also registered to Bits Corp by David Manley;

Registrant:
Bits Corp Plc

112, Cricklewood Lane
LONDON, England NW2 2DP
United Kingdom

Registered through: WebDomains4u.com
Domain Name: PLAYWISE.COM
Created on: 09-Feb-99
Expires on: 09-Feb-08
Last Updated on: 24-Jan-06

Administrative Contact:
Manley, David davidm@bitscorp.com
Bits Corp Plc
112, Cricklewood Lane
LONDON, England NW2 2DP
United Kingdom
02082827200

Technical Contact:
Manley, David davidm@bitscorp.com
Bits Corp Plc
112, Cricklewood Lane
LONDON, NW2 2DP
United Kingdom
02082827236

https://www.wildwestdomains.com/gdshop/whois.asp?se=%2B&prog%5Fid=wildwestdomains&domain=playwise%2Ecom&ci=1718

Could be an interesting couple of weeks to month end, with this news to come out officially.

Issue of Equity

RNS Number:2344A
Bits Corp PLC
22 March 2006



22 March 2006




Bits Corp plc

Update, Placing and Stand-by Facility


Update


Bits Corp plc ('Bits Corp' or 'the Company'), a leading UK developer of video
games software for major console platforms, is pleased to announce that it has
raised #1,532,000 before expenses by way of a Placing. Additionally the Company
has arranged financing for up to #1,500,000 in the form of a stand-by
convertible loan facility. Details of both are provided below.



As previously announced, the Company has entered into agreements with The Palace
Group and Microgaming. The agreements will enable the Company to market and
provide a unique on-line gaming experience utilising the Company's extensive
knowledge and expertise of the video games industry. The Company expects to
launch its inaugural product and web site during the second quarter of 2006,
with revenues forecasted to be earned during the third quarter of 2006.



The proceeds of the Placing will enable the Company to carry out its planned
entry into the internet gaming arena, whilst the stand-by convertible loan
facility will also fund such business and allow the Company to aggressively
pursue any acquisition opportunities that may arise in this field.



Placing



The Company has raised #1,532,000 before expenses by way of a Placing of
10,213,333 new Ordinary Shares of 1 penny each at 15 pence per share.
Application has been made for these new ordinary shares ("New Shares") to be
admitted to the Alternative Investment market ("AIM"). Admission of the New
Shares to AIM is expected to become effective at 10.00 am on Wednesday 5 April
2006.



Use of Proceeds



The proceeds of the Placing will be used to finance the Company's strategic
entry into the on-line gambling market, as previously outlined in our EGM
circular, and for general working capital purposes.


Stand-by Loan Facility



The Company also announces that it has entered into a two year stand-by
convertible loan facility with Headstart Global Fund Limited for an initial
amount of #1,000,000 with an option to increase this by a further #500,000, with
a coupon rate of 7%. The salient points of the facility are:-



a) The Company can drawdown at anytime during the duration of the facility.

b) Headstart Global Fund Limited has the option, subsequent to a drawdown,
to convert the loan into equity at any time for a period of 360 days from
date of drawdown.

c) The issuing of 400,000 three year warrants in respect of 400,000 ordinary
shares of the Company at a 20% premium of the closing bid price, of
18.5 pence per share, on 21 March 2006.

d) The Company has also issued 67,567 ordinary shares of the Company to
Headstart Global Fund Limited as part of the arrangements.



- Ends -




For further information, please contact:


Bits Corp plc (www.bitscorp.com)
Foo Katan, Chief Executive
Tel: + 44 (0)20 8282 7200
Email: foo@bitscorp.com