Falcon Acquisitions posts a pre-tax loss of £664,000 for the six months to the end of June - down from £54,000 a year ago.
- Admitted to trading on the London Stock Exchange in January 2016 to identify acquisition opportunities in the OTT market (the delivery of audio, video, and other media over the Internet)
- Agreed terms for the acquisition of leading Hong Kong based OTT video streaming technology company Quiptel, a subsidiary of Orbital Multi Media Holdings, forming a foundation investment and providing access to the rapidly growing OTT market
- Shares suspended from trading on the London Stock Exchange on 25 July 2016 as the acquisition constitutes a reverse takeover
- Strong cash position following successful total raise of over £4.1 million, enabling Company to progress acquisition of foundation investment and support development of wider OTT service offering
- Appointment of Richard Baker as non-executive director bolsters board and provides high-level experience across key sectors including telecommunications and technology, as the company enters the next stages of its development