Easyscreen has revealed plans for an equity placing, to
raise around £3m of working capital to keep the firm from
insolvency, and admitted that its previous funding plans, drawn
up in July 2003 (see FO Week Vol 8 No 28), had proved
insufficient to see the firm to profitability.
A spokesperson for the company told FO Week that
market conditions had acted against EasyScreen, saying, "Things
didn't happen as they were projected to happen, through no
fault of the company. Sometimes things are got wrong; it hasn't
changed the basis that the technology is? in demand."
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