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Uncertainty remains over Orchestream funding.
(From FT Investor (Pulses))
Orchestream , the beleaguered provider of telecoms software platforms, said on Tuesday the third quarter would show improvement but it had further to go in talks to resolve its funding crisis. The UK-based company said revenues would grow to GBP1.9m-2.0m ($2.98m-$3.13m) in the three months to September 30, up from GBP1.5m in the previous quarter, while restructuring announced earlier in the year had helped to reduce cost base to about GBP3.1m a quarter. Orchestream's share price plunged to penny stock status over the summer after it overstated its revenues by ...
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