[rryles]

Originally Posted by Dephormation

http://www.paidcontent.co.uk/entry/4...with-more-isps

From April...
"Phorm said it was funded by $5 million from Morgan Stanley Principal Investments in February 2007, a $30 million share placing in June 2007 and raised a further $65 million last month, boasting: “In these current times of uncertainty in the financial markets, the fact that we were able to raise significant funds is testament to the strength and potential of our business model.” It’s now got $16.6 million in the bank. "

So after raising $65M, they had $16M in the bank in April, if I read that correctly. Where did $84M go? And how much of that $16M is left now?

That same article says they burned $22.4 million cash in the previous year... At that burn rate they won't have much left by November.

They sure do know how to spend money. Can't wait until September when we'll see their interim results. (Assuming they are still around then )