News blog
Imaginatik
- BY: Andrew Hore |
- POSTED: 28/11/2011 |
Collaborative software provider Imaginatik has reduced its loss in the six months to September 2011 but cash is running low.
In the past six months the company’s cash has fallen from £469,000 to £244,000 - and that is after a £980,000 inflow from an open offer. A large increase in debtors and a fall in creditors is behind the large cash outflow. Imaginatik hopes that cash flow will improve in the second half. There was a modest cash outflow in the second half of the previous year.
Part of the reason for the higher debtors figure is a recovery in revenues from £1.48m to £1.62m. Purely coincidentally this is exactly the same figure as for debtors. Much lower overheads meant that the loss was cut from £1.42m to £492,000.
More than 90% of customers renewed their contracts and there is a visible revenue stream of £2.8m - including existing contracts and expected renewals.
At 0.38p a share, Imaginatik is valued at £1.6m.
Imaginatik won its case for defamation and for breach of confidence against its form chief executive and a decision on costs and damages should be made in the near future.
Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFNovember2011_26.pdf
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