BOS bombs after revealing 'urgent' cash talks
BOS Global was the biggest faller on AIM on Thursday after its overnight announcement that it is in "urgent discussions" with its main backer over its finances.
BOS Global Holdings Limited (DI)
0.77p
16:39 08/03/18
0.00%
0.00p
FTSE AIM All-Share
728.67
15:45 15/11/24
n/a
n/a
Mining
10,633.77
15:45 15/11/24
1.51%
158.40
BOS, which has AU$185,000 in the bank, has creditors of AU$900,000 and said unless it can raise more cash it would have insufficient funds to meet its liabilities "should they need to be settled in full in the short-term".
The Aussie cloud based software developer wants to raise more than the minimum £125,000 monthly instalments due under the convertible note from main backer Innovation Corporation in order to "meet its liabilities and fund the ongoing business so as to retain value for shareholders and creditors".