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Article: Mikotel Status Update.
- Article from:
- Business Wire
- Article date:
- April 20, 2001
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Copyright informationCOPYRIGHT 2001 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Business Editors
TORONTO--(BUSINESS WIRE)--April 20, 2001
Current Status
With the significant costs Mikotel (CDN:NRSR.) (TSE:NR.) had to undertake to bring a highly competitive network appliance to the verge of commercialization and the difficulties encountered with early financing attempts and the current Venture Capital market, Mikotel is seeking to arrange bridge financing (approximately C$350K) based on the significant collateral represented by way of its R&D tax credits (est. C$450K).
To reach successful production, Mikotel has immediately put into effect cost reduction programs that the management feels will not jeopardize ...