Cork software firm Qumas raised an additional $2 million ( e1.6 million) from investors and implemented a restructuring plan that resulted in 37 job losses as it reacted to the impact of the global banking crisis.
According to newly filed accounts for the firm, it was left with a $28 million deficit in shareholders’ funds in the year ending December 31 2007.
They noted that the company had raised $2 million by way of redeemable and convertible loan notes from...
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