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Ezenet narrows losses from Ezestream sale

Ezenet narrows losses from Ezestream sale

Former IPTV service provider Ezenet (ASX:EZE) has narrowed its losses 90% to $262,000 for 1H10 following the sale of its core business.

Ezenet sold its operational subsidiary Ezestream, a provider of digital in-house movie services, in April for nearly $3.5 million.

As a result, the company’s primary financial activity during the half-year was administrative expenses, and Ezenet took in just $14,098 in revenue for the quarter.

Ezenet said it will proceed with plans to invest in the resources sector, although it made no such investments in 1H10.

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Tags IPTVEzenetMergers and acquisitions

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