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  • BY: Andrew Hore |
  • POSTED: 01/05/2009 |

Adwalker’s management is showing commendable belief in the business but revenues are still hard to come by.

The wearable screenmedia company has not been able to grow its revenues as it hoped and chief executive Simon Crisp and chief operating officer Keith Jordan are guaranteeing the company’s €250,000 loan facility. Senior management are also deferring their salaries. Creditors are understanding but if they insist on their money then Adwalker would need to raise more cash. That could be difficult.

A multinational corporation is a potential customer but the roll out has been delayed and a small initial trial requested. The trial will last two months and a larger contract might follow.

Adwalker is talking to two shopping mall owners in the US and Ireland about leasing units to them, which would generate a regular income for the company. 

Adwalker plans to unveil its third generation of wearable screens in the near future. The intention is to supply them using a pre-paid model which will cut down Adwalker’s financing costs of each unit.

At 0.085p a share, Adwalker is valued at £220,000.

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