AINC Applied Intel.

    RNS Number : 1351J
  Applied Intellectual Capital Ltd
  28 November 2008
   


    APPLIED INTELLECTUAL CAPITAL LIMITED ("AIC" or "the Company")

    Trading Statement

    In view of the recent fall in the Company's share price, the Board of Applied Intellectual Capital Limited ("The Company") believes it
is appropriate to provide an update on the Company's financial position.

    The Company is not yet generating significant revenue, and cannot continue to support its projects without generating cash from one or
more of them, or raising new capital for the group. The Company has not been able to raise further capital in view of the very difficult
conditions in the equity markets.

    One of the Company's liabilities is a payment of �3.86 million plus accrued interest to ITI Scotland ("ITI") due by 1 February 2009 (the
"ITI Liability"), as part of the agreement with ITI announced on 8 February 2008, whereby the Company purchased ITI's remaining interest in
Plurion Limited ("Plurion").  Discussions with ITI are currently taking place with a view to renegotiating the ITI Liability.  The future of
the Company is dependent on a successful outcome of this negotiation.

    The Company is in negotiation to generate additional revenues from its other technology ventures and is expanding its consulting
activities.  Furthermore, as announced on 27 October 2008, Everclear Solutions Inc ("Everclear"), a company in which the Company holds a 54%
stake, is in the process of seeking to raise capital.  If successful, a portion of the proceeds is to be used to make payment due to the
Company for work already performed.

    AIC's annual consolidated results for the year ended 31 July 2008 are in the process of being audited and are due for release in
mid-December 2008.  Because the work on financing is not expected to complete by this time, it is anticipated that the audit opinion will
include a qualification by the auditors in relation to the adequacy of the Company's working capital for a further 12 months. 

    The Board of AIC is determined, despite the position in the capital markets, to secure sufficient funding to safeguard its future and
will keep shareholders informed of developments.

    Dated 28 November 2008

    Nominated Adviser
    M Cramsie
    Nabarro Wells     020 7634 4705



This information is provided by RNS
The company news service from the London Stock Exchange
 
  END 
 
TSTGGMZMRNMGRZM

Applied Intel. (LSE:AINC)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024

Applied Intel. (LSE:AINC)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024