OverNet Data contemplates the abyss

Down to last pennies...

Wireless data company OverNet Data may have to cease trading if no new sources of income can be found. Announcing the company's financial results today, chairman Henry Beker said the company needed to find new funding "within a very short time frame to enable it to continue to meet its ongoing commercial and financial obligations as it now trades," according to Ananova. He added: "If that were not possible then among the alternatives that the directors would have to consider would be whether the company should continue to trade." AIM-listed OverNet Data posted a loss of £2.2m for 2001, compared to a loss of £1.4m for the previous year. Sales were up to £164,000 from £26,000.