STOCKHOLM, Sept. 14, 2018 /PRNewswire/ --Further to Invuo Technologies AB's last business and funding update on 19th July, we are providing updated guidance and outlook.
Due primarily to uncertainties created by the company's unclear funding position, the expected acceleration in MeaWallet orders has not yet transpired. In the absence of further MeaWallet order signings, and in the absence of a positive outcome to a tax arbitration case, we now expect our working capital position to enter a critical position at the end of October, versus our earlier expectation of year-end 2018. Management is of course highly focused on these elements.
Given the current situation, Management has accelerated its engagement in discussions with potential investors. Multiple discussions on investments in, and potential buyers of, the company and its primary businesses are currently being held. The outcome of these discussions, as well as any further alteration to our working capital position, will be conveyed to the Market.
For further information, please contact:
Martin Schedin, CFO, firstname.lastname@example.org, +46-8-564-878-00
This information is such that Invuo Technologies AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. This information was submitted for publication, through the agency of the contact person set out above, at 10:50 on September 14, 2018.
Since 2001 Invuo has been providing its proprietary solutions and systems for mobile phone transactions. Invuo operates in two main business areas; mobile phone payment solutions provided through the brand MeaWallet™, and distribution of e-products. www.invuo.com
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SOURCE Invuo Technologies AB