Amphion banking on IP programme recovery

10th Sep 2010 16:05

Amphion Innovations, developer of medical and technology businesses, saw loss before tax broaden to $2.74m in the first half of 2010 from $0.11m the year before. Revenue slumped to $1.63m from $4.01m the year before, with the entire decrease attributable to the shortfall in licensing revenue. Amphion ended the first half of the current year with $122,311 in cash. Since then, it has concluded one additional licensing deal for $400,000, and that, combined with $300,000 in additional short term loans from board members provided the cash required for the operation of the business and some capital to provide to its partner companies. The company is banking on the continued recovery in the intellectual property licensing programme to provide sufficient cash flow to support the company's operations.