A very bad news from 4M Technologies. :sad::sad::sad::sad:
September 26th, 2008
4M REORGANISES ITS ACTIVITIES
The activity level of the optical disc market remains very low. The few
contracts currently under negotiation are suffering further delays. 4M
has not and will not participate in competitive activities for marginal
sales of machinery at prices below direct costs.
During the 1st half-year 2008, the unaudited consolidated results of 4M
TECHNOLOGIES HOLDING SA were revenue of CHF 1.0 million (CHF
3.2 million in HY 2007), net operating loss of CHF 3.9 million (CHF 5.7
million in HY 2007) and negative net operating cash flow of CHF 2.4
million (CHF 3.4 million in HY 2007). The operating expenses have been
further reduced by 25% in comparison with last yearâ€™s first semester.
Post balance sheet date, the following events have improved the equity
â€“ To cover past losses and reinforce the balance sheet, the share
capital of the Company was reduced from CHF 13.6 million to CHF
0.9 million by the reduction of the nominal value of each share from
CHF 1.50 to CHF 0.10
â€“ As at July 25, 2008, as decided by the shareholdersâ€™ general meeting
held on April 25, 2008, the share capital has been increased
by CHF 5.0 million
â€“ During the 2 nd and 3 rd quarters of 2008, the convertible loan of
CHF 4.8 million has been entirely converted into share capital
The above elements have brought the share capital to an amount of
CHF 10.7 million.
In order to face the ongoing difficulties in the optical disc market, a reorganisation
and a diversification of 4M activities is in active negotiation.
Thereafter, the 4M Group will concentrate its resources on developing
additional profitable activities in sectors in which the Directors and
Management have considerable experience.
Yverdon-les-Bains, December 9, 2008
TECHNOLOGIES HOLDING SA announces that its subsidiary
4M TECHNOLOGIES SA has entered into an agreement concerning
the sale of certain assets and the transfer of its leased
facilities and certain contracts in relation to the production of
its optical disc manufacturing machines to Mondema SA,
Monthey. According to such agreement, 4M TECHNOLOGIES SA
retains its intellectual property rights as well as certain related
assets and sales and service activities. The conditions precedent
for the completion of the transaction are expected to be
met by the end of the year 2008.