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Entellect tightening belt while in administration

Entellect tightening belt while in administration

Educational software developer Entellect Solutions (ASX:ESN) has stated it has cut cash spending while in voluntary administration.

In a reply to an ASX letter querying the ability of the company to continue as a going concern, Entellect said that as well as working with the administrator to resolve the company’s financial problem the board was exploring more opportunities for cash collection.

The board expects Entellect to post a “considerably improved, but still negative” operating cash flow for the current quarter, the reply states.

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Tags Entellectvoluntary administration

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