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AxisMobile sees cash position deteriorate

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    Date: Wednesday 30 Apr 2008

    LONDON (ShareCast) - AxisMobile said its cash position has ‘momentarily deteriorated’ due to a slower than anticipated increase in revenue and added that it does not have sufficient cash to see itself through to financial breakeven.

    The consumer mobile email specialist said it is now considering its options, including the disposal of certain or all assets of the business or additional funding from strategic investors.

    However, the group still believes in the inherent strength of the business and said it is confident its 2008 revenues will be considerably higher than its 2007 results.

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