Shares of Playwize today topped AIM London Stock Exchange after it was revealed about a co-operation between developer of software for the entertainment industry – Playwize and Ladbrokes International. The two big guns will introduce 3-D Poker this week, which features Playwize's innovative video gaming technology for poker experience on the internet.
The shares went sky-high hitting a price of 2.80p or it went up 1.63p since previous close. Undoubtedly, this deal will bring a fresh injection of air for the Playwize’s business.
However, looking at a one-year-old company's stock performance chart - it's more than obvious that the stock had a sharp ride over the past year. In March, 2007, the stock sank down to all-time record - just below 2.00p barrier. Since then, it has remained in the same waters - floating near 2.00p barrier.
Later this September, A software provider for the entertainment industry, said its full-year pre-tax loss widened to £1.96 million, compared with £1.84 million last year.The company said US passing a legislation banning Internet gambling had a negative impact on the online gaming sector generally, making the raising of further funds impossible.
Also, the amount of funds available was substantially less to promote the game properly.
Playwize's revenue was £71,000, against £78,000. Administrative expenses rose to 3520,000, from £396,000.
Looking at the prospectus of this company - I would say it has a great potential to grow. With recently completed successful deal and pursuing others - the company could really be starting to pick up its steam.
Reference
www.playwize.com
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