News blog

SerVision

  • BY: Andrew Hore |
  • POSTED: 18/03/2018 |

SerVision says it is likely to offload its subsidiaries and become a shell.

Trading in the shares was suspended at 0.85p on 20 February when the company defaulted on one of its loans. Management was not able to raise additional cash.

SerVision Ltd is seeking Israeli court protection from creditors. SerVision is an unsecured creditor and is unlikely to get much back from SerVision Ltd, whose ownership is likely to be transferred to a new owner – possibly investors Cascade and Ronnie Cohen will provide $500,000 to continue to finance the business.

If these plans are not successful then SerVision Ltd will be liquidated.

SerVision’s own creditors are owed $2.2m and an agreement with these creditors is required before cash can be raised for the shell.

© 2018 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

News Blog
All micro news

Symphony Environmental Technologies

Symphony Environmental Technologies increased it 2017 revenues by more than one-fifth and more than tripled profit. 

Continue reading... | 18/03/2018

SerVision

SerVision says it is likely to offload its subsidiaries and become a shell.

Continue reading... | 18/03/2018

Quoted Micro 12 March 2018

Continue reading... | 18/03/2018

Defenx

Continue reading... | 18/03/2018

All micro news

Browse by issue
All issues
Popular tags
All tags

betbrokers, financial, gold, health, leisure, media, mobile, resources, services, technology

AIM Micro feeds

Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds