Plus SMS desperate for more investment

Link: Struggling Plus SMS looks for capital – Business – The Timaru Herald

The Plus SMS saga rumbles on…

Struggling text messaging company Plus SMS is looking for more capital and faces what its auditor says is fundamental uncertainty over whether it is a going concern after reporting an $11.89 million loss for the full year.

The company said in a brief statement to NZX yesterday that the deficit for the year to March was “disappointing but expected”.

It compared with a loss of $4.49 million in 2006. The company’s shares fell 1 cent to 12c yesterday.

We’ve featured a few stories on the woes of Plus SMS in the past. They’ve come so close to going down the pan before, but seem to keep going. Maybe these reports are the final nail in the coffin?