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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