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Coolabi
- BY: Andrew Hore |
- POSTED: 13/10/2010 |
Coolabi has raised £434,000 at 6p a share in order to finance the development of its assets.
The intellectual property developer reported a loss of £374,000 in the six months to September 2010, up from £154,000 in the first half of the previous year. Revenue fell from £1.37m to £962,000. Licensing and merchandising revenues grew but there was little in the way of contribution from film and television production. Programmes are due to be delivered in the second half. Poppy Cat is due to be broadcast in 2011 with more projects in development.
Net debt was £1.43m, including a production finance of £695,000.
Evolution forecasts underlying profit of £500,000 in 2010-11.
At 6.75p a share, Coolabi is valued at £3.26m prior to the placing.
Download the October edition of AIM Journal at http://www.hubinvest.com/AIMPDFOctober2010_13.pdf
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