I pointed out on Friday that Phorm (PHRM), having raised £10 million in late March, is now within six weeks of going tits up unless it can find some more folks prepared to piss their hard earned cash up against the wall. Phorm promises potential new investors a bright new future but perhaps such folks might want to look at the past first.
Phorm’s problem – other than its monumental cash burn - has always been that whenever its technology gains any traction at all ( and it is not usually that much) those damn pesky kids at the Scooby Regulators come in and bleat on about personal privacy and other such matters and it has to shut up shop. That was its fate in the UK, the US and indeed it is now unable to do business in the EU.
Right now it claims to be making progress (if not much cash) in China and Turkey but it may only be a matter of time before history repeats itself. If you want a clue on that have a look at what was the great hope in 2012…Brazil.
Indeed if you read the company’s website you might still think that Brazil is still important.
With offices in Singapore, London, Istanbul, Bucharest and São Paulo, Phorm (AIM: PHRM) is a Singapore incorporated company, publicly listed on the London Stock Exchange's AIM since 2004.
Phorm is active globally: while we are a UK listed (AIM) company, we are active as far afield as Brazil, Turkey and Romania.
Er
on ShareProphets | Comments