Time running out for MicroEmissive Displays to get funding

Sep 30 2008

Cash crisis looming at visual display technology company

Visual display technology pioneer MicroEmissive Displays is racing against time to find a buyer or get fresh funding for the business.

Chairman George Elliott  said the group's existing cash resources were likely to be exhausted by mid-December.

During the six months to June 30 the company had sales of just £377,000 and made a loss of £3.8 million.

Elliot confirmed the directors were in discussions with interested parties but there could be no certainty a transaction will occur.

The company makes miniature display screens which can be used in mobile phones, cameras, night visions scopes and headsets.

Elliott maintained the company’s technology provides unique benefits which are being demanded by the market.

"Progress with our customer base is slower than expected but is progressing and management continue to believe that the market opportunities for the company remain very significant," he said.