Woosh declares $2.4M loss, depends on parent for its future

Tue, 16 Apr 2013

April 16 (BusinessDesk) - New Zealand wireless broadband provider Woosh Wireless has reported a $2.4 million loss for the 10 months to Aug. 31, with notes to the accounts disclosing the company relies on funding from its Californian-based 75 percent shareholder, Craig Wireless Systems, to meet its cash needs. TSX-listed CWS, in turn, warned investors last November that its own resources were strapped after two consecutive years of losses and it depended on its "ability to receive future financing through debt or equity financing, realise tax...

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