Voltage IP posts large losses

Voltage IP posts large losses

But directors are confident the company's fortunes will change.

Voltage IP Limited (ASX: VIP) has suffered large losses in revenue and equity this financial year, the company disclosed today.

According to Voltage's half-yearly financial statement, the company posted a loss of over half a million dollars in the past six months, despite earning nearly $900,000 in revenue.

The company also suffered a loss of equity of over a million dollars.

But Voltage is confident it can turn its fortune around and start creating income soon from existing and future projects, the company's directors pledged to shareholders.

The accountants from Bentlys MRI who were engaged to audit the financial statement agreed with the conclusion, noting that Voltage has over $4.3 million worth of investments in companies, which have the potential to provide big payouts.

But the accountants did warn that the large net loss accrued does cast doubt on the company's ability to stay afloat.

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