27th Apr 2016 11:19
LONDON (Alliance News) - Falcon Acquisitions Ltd on Wednesday said it continues to search for acquisitions in the over-the-top market as it made a loss in its first year in business.
The company floated in London in February 2015 seeking to make acquisitions in the mobile, online television and broadcasting sectors with a focus on 'over-the-top' content, meaning media content that is delivered via the internet.
For the period from its incorporation on January 29 to the end of 2015, the company made a GBP168,811 loss, driven entirely by administrative costs.
Falcon said no specific acquisitions are currently under consideration, though last week it raised GBP2.0 million to back its ambitions.
Shares in Falcon were untraded on Wednesday, having last traded at 18.50 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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