The application virtualization and streaming startup Endeavors Technologies problems seem never ending.
In May 2008, it mistakenly announced the advent of a new Microsoft licensing (SPLA) which allows 3rd parties to stream Office.
And last Friday the company suspended its share from the London Stock Exchange detailing a difficult financial situation:
The Company announced on 14th February 2008 that it had anticipated completing a major funding round during the first quarter of 2008 and a Prospectus proposing a placing and open offer was in final draft form. However, financial market conditions at that time were not favourable and the Company had not received commitments from potential placees to the level that the Directors considered necessary to maintain existing operations and finance the planned growth, although the process was still ongoing.
The Company subsequently, having reviewed the alternatives, proposed a new funding initiative based on attracting private and institutional investors using a combination of convertible loan notes and ordinary shares. The first two stages of a three stage process were successfully executed and the Company held a general meeting at which shareholders approved the changes necessary to meet the requirements of the proposed stage 3 investors. In addition the Company received approval from the tax authorities for the proposed treatment of VCT/EIS tax relief of such an investment.
The Company signed a binding heads of terms with a lead institutional investor based on syndication with other institutions.
Regrettably, other potential institutional investors have been unable to agree detailed terms, principally on matters of taxation and security and therefore the Company has been unable to complete the final stage of its fundraising.
The Company had intended to move from the Official List to AIM as part of the proposed corporate strategy and shareholder approval for such a move was obtained at the recent general meeting. A condition of the transfer is that the Directors of the Company must provide a confirmation of at least one year s working capital prior to admission to AIM.
The Directors are not able to make such an undertaking without a significant proportion of the intended stage 3 funding having been committed…
virtualization.info has learned that the amount of money required to immediately recover is over £1.5 million.
Alternatively the company has to wait the profits coming from the current partnerships (like the one with Wallace Systems or the one with Vector Networks), not earlier than Q2 2009.
Of course there’s a third option: the company (and its patents) could be acquired for a cheap price.
Considering the impressive consolidation seen so far in the application virtualization market it’s not a too unlikely scenario:
- VMware acquired Thinstall
- Symantec acquired Altiris and AppStream
- Google acquired Greenborder
- Citrix acquired Ardence
- Microsoft acquired Softricity
blog comments powered by Disqus
virtualization.info Newest articles
November 28th, 2014
The OpenStack Foundation regularly conducts Elections for Individual Directors of the Foundation’s Board, next elections for the 2015 Board of Directors are going to be held from Monday January…
November 28th, 2014
Dell has released a paper titled: "Dell Wyse Datacenter for VMware Horizon View Reference Architecture v.6.6". The paper which contains 110 pages contains a Reference Architecture for the design, configuration…
November 27th, 2014
VMware has released a paper titled:"Creating a VMware Software-Defined Data Center". The paper which contains 29 pages describes a reference architecture for a Software Defined Data Center (SDDC) using VMware…
November 26th, 2014
5nine has released version 5 of its Cloud Security for Hyper-V product. Cloud Security for Hyper-V is a solution which helps to ensure security and compliance for Hyper-V environments. It…
November 24th, 2014
Oracle has released a new version of its virtualization platform VM Virtualbox. Version 4.3.20 is considered a maintenance release which can be installed on top of version 4.3. The update…
November 20th, 2014
Microsoft has published a series of blog articles called the "Microsoft Infrastructure as a Service Foundations". The goal of the Infrastructure-as-a-Service (IaaS) Foundations series is to help enterprise IT…
November 17th, 2014
The Day 2 at AWS re:Invent in Las Vegas saw on stage Verner Vogels, amazon.com CTO, in a keynote mostly focused on devs.
Two the key announcements:
Amazon EC2 Container…
November 13th, 2014
Yesterday at AWS re:Invent 2014 in Las Vegas, Andy Jassy (SVP, Amazon Web Services) announced, as expected, a set of new products and services that will be available to Amazon’s…
November 12th, 2014
Veeam today announced the release of version 8 of its Availability Suite. It combines the Veeam Backup & Replication version 8 product together with Veeam ONE version 8, where Backup…
November 12th, 2014
Puppet Labs has released version 3.7 of its Puppet Enterprise. Puppet Enterprise is a Configuration Management platform using a model based, declarative approach build on top of Puppet which…
November 4th, 2014
Midokura is a Japanese startup that released, back in 2013, MidoNet a network virtualization solution for OpenStack.
Yesterday, at OpenStack Summit in Paris, the company announced the decision to…
November 3rd, 2014
Red Hat today announced the release of version 5 of its systems management solution for Infrastructure as a Service (IaaS) private clouds based on the OpenStack platform, supporting OpenStack, Amazon…
October 30th, 2014
Amazon has released the AWS System Manager for Microsoft System Center Virtual Machine Manager (SCVMM). AWS System Manager is an add-in for SCVMM which allows customers to monitor and manager…
October 29th, 2014
Project VRC, an ititiative started by LogIn Consultants and PQR, has released a new Project Virtual Reality Check (VRC) whitepaper titled:”Phase VII – Impact of Microsoft Application Virtualization (App-V) 5.0,…