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Pre-tax losses increase for Oxford Advanced Surfaces
Wednesday, 25th April 2012
Oxford Advanced Surfaces Group reveals a loss before taxation of £1,786,000 (2010 £1,634,000)and loss per share 0.84p (2010 0.81p) Revenue for the year to 31 December 2011 was £19,000 ( 2010 £259,000). Short term investments and cash and cash equivalents for the period were £5,805,000 (2010 £7,480,000)Dr Peter Rowley, Chairman of Oxford Advanced Surfaces commented: "We expect our VISARC technology to complete development so that we can manufacture and deliver sufficient scale of particle to start mass manufacture at the customers' facilities within six to 12 months.
"Our Onto chemistry applications will require a longer development period before first royalty bearing product launch due to the need for specific formulation design, scaled manufacturing, and completion of local and specific market regulatory clearance. We expect combinations of development and advanced licence fees to supplement our expenditure before actual commercial product launch."
At 9:46am: (LON:OXA) share price was 0p at 13p
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