24th Sep 2013 13:24
LONDON (Alliance News) - Amphion Innovations PLC, a medical and technology equity firm, Tuesday said it swung to a pretax loss in the first half of the year as revenues dropped because its licensing programmes stalled as it pursued copyright infringement litigation.
It posted a pretax loss of USD3.1 million for the six months to June 30, compared with a profit of USD3 million a year earlier as revenues fell to USD264,638 from USD1.1 million. It had a net asset value of 12 cents a share.
The company has filed suits in Massachusetts against MicroStrategy and several of its customers that it believes are infringing its intellectual property, and said that it believes if its successful in concluding licensing agreements with the group of infringing parties its net asset value per share will rise.
In, the meantime, an intellectual licensing programme with DataTern stalled last year as it awaits the results of an appeal.
Shares in Amphion were trading down 6.9% at 3.38 pence Tuesday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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