SINGAPORE--(Marketwired - Sep 30, 2015) - Phorm (
Highlights:
Gross revenue $0.9m (2014: $0.5m)
Operating loss $16.3m (2014: $22.8m)
Loss after taxation $16.3m (2014: $23.0m)
Loss per share was $0.02 (2014: $0.04)
During the first 6 months of the year, average monthly cash burn (excluding financing activity) was $2.5m (2014: $3.6m)
Actively pursuing the implementation of further cost saving initiatives throughout the remainder of 2015 that are currently intended to reduce the monthly recurring cash burn rate to a level of approximately $1.3m by the end of 2015
Exploring funding options, with the Board confident of securing additional working capital in the short term, with current cash reserves expected to last until the end of October 2015.
To view the full announcement, please click on the following link
http://www.rns-pdf.londonstockexchange.com/rns/7652A_1-2015-9-30.pdf
Contact Information:
For further information please contact:
Phorm Corporation Limited
Timothy Smith
(Chief Executive Officer)
+44 (0)20 3397 6001
Mirabaud Securities LLP
(Broker)
+44 (0)20 7321 2508
Jason Woollard
Peter Krens
Strand Hanson Limited
(Nominated Adviser)
+44 (0)20 7409 3494
James Harris
Matthew Chandler
James Dance