When I reviewed the last set of figures from LiDCO in April, I mentioned the substantial cash outflow that had occurred in the year. Now the company has raised a $2 million convertible loan facility from a US investment fund that specialises in small cap stocks. It will provide extra working capital as LiDCO grows sales through its burgeoning distribution network.

  Separately, the company said that trading in the first half is ‘broadly’ in line with expectations. Clearly, the tone of the statement could be more encouraging but at least expectations are for a material narrowing of losses. Tipped here in November 2003 at 27.75p, the shares remain becalmed at 23.25p. Hold.

LiDCO	AIM	£10.29m	7.25p	0.00p
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Other company articles:
LiDCO Group			03/06/2008
Healthy prospects			02/06/2008
LiDCO sees second half upturn			18/10/2006
LiDCO halves losses			10/05/2006
LiDCO raises convertible finance			09/05/2006