Thursday July 9, 2020

Orbiscom had $33.5m loss before restructure

Online payments firm Orbiscom had an accumulated loss of $33.5 million at the end of 2003, before a restructuring of the firm, according to recently-filed accounts, writes Gavin Daly.

23rd July, 2005

Online payments firm Orbiscom had an accumulated loss of $33.5 million at the end of 2003, before a restructuring of the firm, according to recently-filed accounts, writes Gavin Daly.

The company, which has raised more than $50 million from investors, had shareholders' funds of $1.3 million at the end of 2003, the accounts show. The company's revenue for the year is not disclosed in the accounts, but it is understood to have been in the region of $5 million.

Orbiscom has...

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