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ViaLogy
- BY: Andrew Hore |
- POSTED: 30/12/2011 |
- COMMENTS: Add yours
Oil and gas exploration technology developer ViaLogy is still finding it difficult to generate revenues and it will require “additional resources”.
They fell from £57,000 to £41,000 in the six months to September 2011. A reduction in admin expenses helped to cut the interim loss from £3.37m to £2.63m, including a £1.5m (£1.56m) amortisation charge.
ViaLogy’s QuantumRD technology amplifies signals from seismic data making it easier and quicker to accurately detect oil and gas. The technology is being assessed by a number of large oil companies.
There was £456,000 in the bank at the end of September 2011. In October, ViaLogy raised £177,500 at 1p a share. More cash is likely to be needed.
At 1.5p a share, down 0.12p, ViaLogy is valued at £11.3m.
Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFDecember2011_27.pdf
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