Easier.co.uk on life support machine
Braindead dotcom fed mush through tubes
A British dotcom that helps people buy and sell property on the Web is about to slip into a coma.
The board of Easier.co.uk today announced that it intended to flog the company's business and non-cash assets in a bid to realise as much cash as possible for its shareholders.
Once completed, all that will be left is a cash shell, available for a reverse take-over by some other outfit.
Easier was established in November last year. It raised some £11.2 million in February 2000 when it was admitted to the Alternative Investment Market (AIM).
The Company's Net service enabled people to buy and sell homes without paying commission. Easier sought to generate its revenue by selling the details of those sellers and buyers to interested parties.
However, when it announced its maiden interim results in September the company said that while pre tax losses for the half-year were less that expected, revenue was below par.
The company's share value has fallen by almost 90 per cent this year.
Despite having a £30 billion debt problem BT just can't seem to stop spending cash. BTopenworld said today it had forked out $15 million for a 17 per cent stake in location-based information provider, wcities. The outfit currently has info on 230 cities around the world although this figure is set to rise to 400 by Spring next year. The info is going to help bolster the content for BTopenworld customers - especially for punters seeking stuff on the move. ®
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