Mobile commerce transactions software provider MoPowered Group is still finding client wins hard to come by and revenues will be lower than expected.
The share price fell 1.75p to 5.5p – new all time low. MoPowered is valued at £4.89m. MoPowered raised £3.64m, or £2.9m net of expenses, at 100p a share when it joined AIM a year ago and in September it raised £3.5m at 5p a share.
MoPowered has won 17 new clients in the second half but this will not be enough to produce the forecast second half revenues of £1.6m. Further cost savings are required.
Richard Gordon has been appointed as finance director.
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