News blog

VPhase

• BY: Andrew Hore |
• POSTED: 21/06/2013 |

Energy efficiency products developer VPhase has not been able to raise the cash it requires from institutional investors to secure its future.

Trading in the shares was suspended on 20 June at 0.17p, which valued the company at £2.43m.

Management is trying to find an alternative way of raising cash or it could sell the company’s assets. There are a few weeks of cash left. VPhase may end up being wound up if no cash is raised.

There was a £1.9m cash outflow in 2012 as VPhase invested in new versions of its product. Net cash was £305,000 at the end of 2012 and a placing raised £519,000 at 0.5p a share after the year end. There is an international factoring facility based on 50% of the level of debtors up to £500,000.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFJune2013_45.pdf