News blog
JSJS Designs
- BY: Andrew Hore |
- POSTED: 17/02/2011 |
Home automation systems supplier JSJS Designs says that it needs to raise more cash in order to finance the commercial roll-out of more of its products.
There was £140,000 in the bank at the end of September 2010 but the cash outflow from operations was £653,000 in the previous year. That figure was flattered by a sharp increase in creditors at the end of the financial year.
JSJS has changed its strategy so that it is an IP owner rather than a direct product supplier but delays in negotiations have exacerbated the cash drain.
Revenues remain modest at £444,000 in the year to September 2010. The loss was £853,000.
Siemens-branded door chimes that use RF are on sale in 200 B&Q stores. This contract is worth a total of $3m. Demand is better than expected.
The company hopes to sign up other retailers for its products.
JSJS intends to expand its range of ECO energy efficiency products.
At 1p a share, JSJS is valued at £2.55m.
Download the February edition of AIM Journal at http://www.hubinvest.com/AIMPDFFebruary2011_17.pdf
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