AMTE Power shares were down heavily on Thursday after announcing their financial position was ‘becoming ever more critical’.
The battery manufacturer said if a financing option was not found within the next few business days administration was a real possibility.
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AMTE Power was down around 50% at the time of writing.
The company said it is engaged in discussions around funding options, but there is no certainty they will provide the outcome desperately needed by shareholders.
AMTE Power says should the discussions fail, the prospect of any recovery of value for shareholders is remote.