Odour biotechnology firm Kiotech has had an rocky ride since coming to Ofex in December 1997, but it has now been restored to trading having secured working capital, and chief executive Nick Scott is 'very, very, very excited' about the future. This is after the company managed to attract £1.22 million in two private placings priced at 15p and 20p, a major boost for a venture that had clearly been teetering on the edge of bankruptcy. Its results for the quarter to 31 March showed a loss of £127,000, following a loss of £820,000 for the 12 months to 31 December, when Kiotech reported cash reserves of just £1,500. However, sales of its two existing products have been increasing, and first quarter turnover of £50,000 was just under half the total for the whole of the previous year. Also its fish attractant product Ultrabite is about to be launched in Europe, having already attracted 'the most astounding response worldwide' according to Scott, who adds that he is 'cautiously, tremendously optimistic'.

Kiotech International	AIM	£2.81m	1.12p	0.00p
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