Topped the share charts on Friday following a lucrative contract announcement and is rumoured to have several more contracts in the pipeline.

Website www.coms.com

Trading Update

Business growth
Since the start of the year under Dave Breith's leadership the newly re-structured Company has announced several contract wins including agreements to supply Vonage and Worldstone and the substantial business announced on 26 April 2013.

In addition, the Coms sales team has been building up a pipeline of potential new business.

· The Company's new in-direct sales (wholesale) division has built a pipeline of sales prospects, which represents a potential of just over £7m annualised revenue. We will be looking to convert as many of these leads as we can over the coming months.

· The retail division has won 3 new contracts with two NHS Trusts based in the North and a Police Constabulary based in the South East. Its sales pipeline is currently showing a potential gross margin of over £100,000 per month.

· The Company has commenced its Government sales activity initiative and anticipates that this will generate additional sales for the remainder of this financial year and beyond.


Operational Growth
· In order to ensure that the Company delivers a "best in class" service and can manage effectively its anticipated growth, it is expected to recruit up to 20 new members of staff over the next three months.

· In addition, the Company is reviewing the possibility of establishing a 20 person call centre to further enhance its offering and support its growth.

Corporate Strength
· Since the start of the year, the Company has announced the acquisition of both World Telecom and So Purple Tech Limited and also the licensing of the Ask Merlin software, all of which has significantly broadened the Company's technology platform and customer base. These acquisitions are so recent that their numbers are not included in the first quarter's trading. A number of other potential enhancing acquisitions have been identified and the Board will continue to assess and investigate these opportunities with a view to further augmenting the overall business as appropriate.

· The Board in liaison with the company's professional advisers is continuing to review the best ways to fund the growth of the business including the opportunity to raise additional working capital through the placing of shares on attractive terms.

· The Company is looking to strengthen its Board through the appointment of up to two additional non-executive directors to bring in the skills needed to support the rapid growth of the business and this initiative is being led by Iain Ross, who joined the Coms board as a non-executive director in February.

I'm in.

Welcome aboard Dil. Usual nutters on other bulletin boards who have jumped on this share when it shot up 168% one day and then they get restless when it doesn't shoot up every day. The RNS sounded very bullish to me and I'm quite happy with the phrase - "The Board in liaison with the company's professional advisers is continuing to review the best ways to fund the growth of the business including the opportunity to raise additional working capital through the placing of shares on attractive terms."

As long as the company doesn't try to expand too quickly - 20 new members of staff + a 20 person call centre + 2 additional non-executive directors, that seems enough to me at this point is their development.

Looks like they chucked the kitchen sink et al in with last years results which were expected to be bad to give themselves a clean start.

It's what happens from here on that counts.

I (finally) bought in late on - so the only way now is down!

Nah , this time next year we'll be millionaires Rodders :-)

Hmmm - Issue of Equity

Coms (AIM: COMS) is pleased to announce that it has raised £1.5m, before expenses, through the issue of 81,081,081 new ordinary shares of 0.1 pence each ("Ordinary Shares") at a price of 1.85 pence per share to Novum Securities Limited. Under the terms of the deal, each new Ordinary Share has a Warrant attached, entitling its holder to subscribe for additional Ordinary Shares at an agreed exercise price of 3.7 pence per share. The Warrants, which will be granted subject to shareholder consent, can be exercised at any time up to 24-months from the date of signature or, at the Company's election, if the share price achieves and remains at 130% of the Warrant exercise price (i.e. 4.8p) for a period of 10 business days, whichever is the sooner. A notice will be sent to Shareholders convening a general meeting to grant the Coms directors authorities to issue these Warrants.

A very exciting fed looking fund raising, onwards to 3p again as more positive news flow sure to follow.

I was expecting this skinny , maybe not so soon but to me it's a positive. Clear the crap out of the books and raise some dosh to enable the business to crack on in it's new direction without being constrained with short term cash flow problems.

I agree with you Dil, the markets hate uncertainty and so do investors.

Share price was marked down 10% first thing, but is bouncing back now.

Contract wins

Coms plc (AIM: COMS) has secured a number of new contracts over the past week within its retail division. Importantly, they are recurring annual service driven contracts with no associated cost of sales. Whilst no singular contract is significant, the combined Gross Profit of the contracts is £50,000 per annum and further demonstrates the Company's ability to win contracts with well-known organisations, including:

· Barking, Havering and Redbridge NHS Trust;
· Neopost;
· BT OneConnect / Lancashire County Council mission critical vibe;
· Dartford and Gravesham NHS Trust;
· My Claim Solved; and
· Glastonbury Festivals

Dave Breith (Coms CEO) states "Gary Day, our Retail Sales Director, has been extremely busy over the past month with the qualification and tailoring of our hosted solutions which has enabled the team to secure these contracts. Gary and his newly incentivised and motivated teams deserve all the credit in bringing in the new business and their success is reflective of the newly energised Coms."

It's all happening here - difficult to keep up with all these RNS's !!

"Whilst no singular contract is significant" - These are the bread & butter contracts, in their own way equally as important as the few blockbusters which send the SP rocketing when they are announced.imo

Hi doodlebug4

Just joined this forum after reading you very informative posts about Coms, where I have been invested since February. My usual BB is on London South East LSE where on their Coms BB I have recommended your posts here. If you get a moment it would be great to have you share some of you wisdom with us over on LSE.

http://www.lse.co.uk/ShareChat.asp?ShareTicker=COMS&share=coms

Oi pete wot about me ?

I blame skinny for the share price fall :-)

Don' t blame Skinny Dil! This company is doomed. Has absolutely no future and the sp will tank to nowhere. I know this for certain because I bought in on Tuesday, so sorry everyone, it is my fault not Skinny's but yes, if you like, let's blame Skinny anyway! 😜

Oi!! :-)

I think you are all being incredibly generous in not blaming me since I was responsible for starting this thread! :-)

Oh yes, that's right! You're off the hook Skinny! 😃