Playwize has closed its online gaming operations and is looking for a new business.
The shares returned from suspension after the publication of interim figures to September 2008 and fell 0.065p to 0.3p each, which values Playwize at £580,000. The shares were originally suspended on 16 July. Every 100 shares will be consolidated into one new share on 31 December.
There is cash in the balance sheet of £15,000 but net liabilities of £762,000 most of which will be owed to the Headstart Funds. Since then £60,000 has been raised by the sale of the company’s assets. Headstart is willing to loan the company a further £250,000 to enable it to assess any potential takeover.
Playwize is considering any type of new business other than ones involved in property. It should have a proven track record of revenues and profit.
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