There is no sign of any upturn in trading at cloud-based conferencing services provider LoopUp (LON: LOOP). The 2021 trading outcome was in line with previously downgraded expectations, but cash continues to flow out of the business with bank covenants potentially coming under pressure later this year.
Last year £8.85m was raised at 25p a share, some of which went to finance the acquisition of SyncRTC. That was a one-third discount to the market price at the time, and the price has subsequently slumped to 8.4p, down 4.6p on the day. That values LoopUp at £8.1m.
Last year’s revenues were...
