LEUVEN, BELGIUM--(Marketwire - Oct 10, 2012) - Option (EURONEXT: OPTI; OTC: OPNVY), a
global player in wireless connectivity, security and experience, today
that the Board of Directors is looking at different options to strengthen
working capital via a cash injection of a minimum amount of 5 million euro
before year end, in order to secure the prospect of regaining profitability
sustainable growth in the near term.
The Company continues to be faced with the risks and uncertainties
the interim financial report of the Board of Directors for the first six
of 2012. Since then, the cash position of the Company has been further
by the build-up of inventory and the longer sales cycles for the new
Option continues to look at reducing its cost-base by further rightsizing
operations and focusing its sales and marketing efforts in a very dynamic
Option has been transforming its entire business since the beginning of
towards end-to-end solutions for businesses and consumers, away from the
vanilla products for mobile network operators.
The investments of the last 20 months have resulted in a new line of
and services focused on vertical markets such as automotive and wireless
security & surveillance. Today the Company announced yet another new
CloudGate, aimed at the buoying M2M market in the US.
In order to address these different vertical markets, the Company wants to
develop its brand name, add and support sales channels in North-Americas,
and Europe and build up appropriate stock levels to support these channels.
The Company will also open an e-commerce shop by the end of October, in
the traditionally end-of season buying period.
Option will provide more details about the financing round when specific
information is available.
Option is a global player in wireless connectivity, security and
Option enhances the performance, functionality and usability of wireless
communications through a portfolio of 3G, 4G HSPA/LTE and WLAN connectivity
solutions. The company works with mobile operators, OEMs, retailers and
enterprise customers to create compelling products that enable new
secure services. Option is headquartered in Belgium, with further R&D
facilities in Germany and an ISO 9001 production engineering and logistics
facility in Ireland. Option maintains offices in Europe, the US, Greater
Japan and Australia. More at www.option.com
Copyright ©2012 OPTION. All rights reserved. All product and
herein may be (registered) trademarks or trade names.
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Source: Option via Thomson Reuters ONE