Mobile payments and messaging services company Fonix Mobile (LON: FNX) has been quoted for more than three months and there has been an upward trend to the share price.
London-based Fonix was founded in 2006. Last October, shareholders in Fonix raised £45min a placing at 90p a share. The company did not raise any cash. Clients include Bauer Media, BBC, ITV and BT and it has a good track record of hanging onto these clients.
The cash figure in the balance sheet appears high but that is due to the payments going through Fonix. That is why creditors tend to exceed debtors – depending on th...