IT, telecom and e-commerce company e-com Multi (ASX:ECE) in anticipating a 4000% wider loss of $1.8 million in FY10.
While its unaudited preliminary results show a 19% increase in revenue to $517,000, a significant increase in administrative expenses and a $500,000 break fee wiped out these gains.
e-com Multi said it was in the process of seeking investment opportunities in the resources area, with an eye to changing course towards minerals mining based activities.
ECE shares are today trading unchanged at $0.007.
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