RE: It could be placing needed ( no cash)8 Sep 2020 11:09
Key RNS extracts:
· The monthly operating cost base has been further reduced to £360K from a peak of over £850K. As a result, the Company is now operating at monthly P&L break-even
· The Company has secured a new customer, on a multi-year contract, launching directly onto the new platform. In addition, a substantial Services order has been secured in advance of a Global roll out plan at an existing customer, adding to the Company's Annual Recurring Revenue ("ARR") for this financial year and next
· The Company's active sales pipeline has been rebuilt to pre-COVID-19 levels and now comprises live opportunities with a potential estimated total ARR value of approximately £1.8m.