Saturday, May 26, 2007

Does Futuremedia have a future?

This month three Directors resigned (10 May) attracting a delisting notice from NASDAQ as their audit committee needs at least three independent Directors.

The share price has also plunged to 64 cents this week, which will attract a further notice, as it's below the one dollar NASDAQ mark.

This is on top of the 1:50 share split that recently, massively devalued the shares.

Futuremedia were a real force in the industry in the days of the excellent Peter Copeland. Recently they seem to have survived by the skin of their teeth (all credit to them for this alone), but things are not looking good. They are worth far less than the price of any one of their acquisitions and the 'poundshop' share price is hardly an incentive for those who took paper in deals , or who have options. Redundancy notices are also being circulated. This is not looking good.


Andy Tedd said...

Many of us old hands have been expecting FM to shuffle off for, well a decade now, and yet it hasn't - yet...

But a lot of people in the industry learned their trade there, thanks to Peter, Mike Griffiths, Gary Allman and Richard Bunning to name a few, so the legacy will live on. And the Xmas reunions are always fun.

And there are quite a lot of Futuremedia babies around too, including mine - but that's another story :)

Donald Clark said...

I'd raise a glass to that. I hope they do survive as the EBC people, and others I know personally, are all good and competent. Unfortunately the price is down to 50 cents today. Looks grim.