US-based Vectrix Corporation, the zero-emission scooter maker, is pondering delisting from AIM as it looks to raise cash quickly.

Shares in the Rhode Island-based venture skidded to an all-time low of 2.25p today, on news the company plans to ‘accelerate its next round of fund raising’ due to lower than expected orders in its first quarter.

Options being assessed by the board – which only in October released a optimistic trading update in which it said it expected ‘use of existing cash and results from its expanded product line to provide adequate working capital’ – include leaving AIM, if this route speeds the fundraising process.

CEO Mike Boyle said he is ‘disappointed with the impact of the worldwide credit crisis’ and that ‘it is prudent for Vectrix to accelerate its fund raising plans to provide additional working capital and to ensure that the vompany's program for the expansion of its model line remains on course.’

The company, which has stores in Rome, Madrid, Melbourne and Bologna, arrived on AIM only last year alongside a £34 million funding and with a debut market valuation of £135 million.

Following a litany of losses – pre-tax losses doubled in the year to September 2007 to over $50 million – the shares have shed around 95 per cent of their value and now value the business at less than £7 million.

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Vectrix Corporation	AIM	£4.9m	1.75p	0.00p
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