IVMD, the Inverness medical device developer, has revealed a desperate cash shortage in its most recent accounts.

The company has admitted that it has less than £1000 left in its bank accounts, is surviving on cash handouts from a related company, and its lenders have begun discussions about how best to avoid insolvency.

Nasdaq-listed IVMD, which currently trades at $0.06 a share, recently won headlines for creating a pregnancy monitoring device which can detect that labour is about to begin. However, IVMD's most recent filings with the US Securities and Exchange Commission revealed that the company has recorded no revenues for the past nine months, has defaulted on a number of its loans and has more than $5.5m in net current liabilities with losses of $11.3m since inception.

See Full Article

If you are concerned that your business may be at risk from insolvency then call us before it is too late and save your company. We can help reduce your repayments on debts and even write off a percentage! So call us now and keep trading!

Phone us on: 0800 071 1616

Email us at: info@debtsgone.co.uk

See our website: www.debtsgone.co.uk