"the group was insolvent back in March 04" i really cant take this anymore.. look at what the pigs told us:
"Year End Update
On 5 February 2004, Dr Rudy Burger, CEO of Scipher, announced the outcome of
the strategic review that set out a plan to drive the Company to profitability.
The Company is executing on all aspects of its plan and is ahead of schedule in
a number of areas including its disposals programme.
In particular, solid progress has been achieved on a number of fronts that
include:
* Reductions in cash burn have enabled the Company to continue operating
within its banking facilities
* New senior appointments within Scipher, including Danny Chapchal as Deputy
Chairman and Duncan Penrose as Interim Corporate Finance Director
* New management within TSSI has delivered a notable turnaround in business
performance
* Assuming that the planned restructuring is completed then, in aggregate,
the three core businesses (TSSI, Wavelength and CRL Opto) are expected to
be profitable in the coming year.
As previously stated, the Company has a requirement to raise funds in order to
complete its restructuring and fund growth in its core businesses. Options that
are available to the Company are being pursued.
The Company expects revenues for the year ending 31 March 2004 to be of the
order of ?15.0 million and the group operating loss to be less than in the year
ended 31 March 2003.
Dr Rudy Burger, CEO, said: "We are well on the way towards achieving the
turnaround of Scipher's business. There are milestones yet to be achieved,
however I am confident that the progress made this quarter will allow us to
achieve our goals." "
this is daylight robbery, someone has to do something about this, companies like scipher will keep sinking and lives destroyed.. there must be someone out there that can help
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