AnnuAl RepoRt And Accounts - Mobile Tornado

Directors’ reportThe Directors present their annual report and audited financial statements of the Companyand the Group for the year ended 31 December 2011.Principal activityMobile Tornado is a provider of next generation instant messaging solutions which serve themarket of mobile data services in the mobile communication industry. These services includeagroup of services generically termed ‘Push to x’ services, of which ‘Push to Talk’ is the mostcommonly known.Business reviewThe information that fulfils the requirements of the Business Review can be found in theChairman’s report on pages 2 to 4 which forms part of the Directors’ report.Results and dividendsThe Directors are unable to recommend the payment of a dividend in respect of the yearended 31 December 2011 (year ended 31 December 2010: £nil). The Company currentlyintends to reinvest future earnings to finance the growth of the business.The loss sustained for the year of £1,092,000 (year ended 31 December 2010: £1,569,000)will be deducted from reserves.Key performance indicatorsThe key performance indicator used by the Board at this stage of the business to monitorperformance is license and service revenue. License and service revenue has increased by23% on the prior year as explained in further detail in the Chairman’s report.DirectorsThe present Directors are detailed below.• Peter Robert Wilkinson was appointed Non-Executive Chairman on 24 November2006. Peter is currently Chief Executive of InTechnology plc. Peter was formerlyChairman of Sports Internet Group plc which was sold to BSkyB plc for £301 million inMay 2000. He also invented the free ISP model Freeserve, the internet access servicewhich was launched by the Dixons Group plc.• Jeremy Mark Fenn is Chief Executive Officer and acting Finance Director and wasappointed to the Board on 24 November 2006. Jeremy is a qualified chartered accountantand was formerly Chief Executive of Sports Internet Group plc. Following the sale of thatbusiness he remained as a Director of Skysports.com until December 2003. Prior to thishe was Managing Director of Leeds United Football Club from 1996 to 1999. He iscurrently a Non-Executive Director of Eco City Vehicles plc, Commensus plc, WebMarketing Group Ltd, Autovip Ltd and Stonerings Ltd.• Richard Mark James was appointed as Director and Company Secretary on24 November 2006. Richard qualified as a solicitor with Allen & Overy in 1986 and wasa Partner at Pinsent Curtis in 1991 before moving to Hammond Suddards as a Partner in1996. Richard is also a Director and Company Secretary of InTechnology plc.• Jorge Pinievsky was appointed as Chief Operating Officer on 25 May 2011. Jorge is oneof the original developers of the Mobile Tornado technology and brings over 20 years ofmanagement and marketing experience to Mobile Tornado. His extensive experienceincludes previously serving as General Manager at Terayon Communications, VicePresident of Business Development at BATM Advanced Communications Ltd, SalesPage 5