2PM must raise capital to survive €14.6m losses

2PM Technologies,the Ballinasloe-based telecoms software firm, has recorded €14.6 million in accumulated losses.

14th June, 2008

2PM Technologies,the Ballinasloe-based telecoms software firm, has recorded €14.6 million in accumulated losses.

Its directors have acknowledged that the firm now needs to raise further capital before revenues can sustain its operations.

The firm’s most recently filed accounts reveal that the company recorded turnover of €86,000 in the year ending June 30 2007,up from€12,000 a year previously.

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