Shares digital

Immersion Technologies (ITI:AIM) – Finals PTP: -£2.56m (n/a) Divi: n/a (n/a)

Revenue of just £17,971 shows that it is still early days for the loudspeaker specialist. A new manufacturing facility in Nanjing, China, however, is now up and running and shipments to key customer, Japan's Nakamichi, began in December.

Two acquisitions gave Immersion the rights to its high-performance electrostatic loudspeakers (ESL) and conventional cone loudspeakers (CCL), which it intends to sell into the hotel, cinema and consumer markets.

Immersion listed on Aim last April via the reverse takeover of cash shell St. James's Energy, but the shares have slumped from 10p to 2.25p since the deal's closure, despite the Nakamichi deal, which could see the customer accept up to $12.1 million worth of equipment.

Shares says: A £2.1 million cash pile supports the £5.1 million cap and the valuation is more realistic but more progress is needed.

by: Russ Mould