Posts Loss for 2008, Announces Multi-Currency Product

9 February 2009

Although Ltd. increased its year-over-year revenue, the company still posted a loss for the financial year ending Dec. 31, 2008 of $1.4 million.

Total revenue for 2008 was at $5.65 million, a 138 percent increase compared to $2.37 million revenue total in 2007.

“Like many international companies, we have been negatively affected by the dramatic volatility of the currency market, particularly the fall of the United Kingdom pound sterling and the strengthening of the United States dollar in relation to other world currencies,” said Tarrnie Williams, the company’s chief executive, in a prepared statement.

Additionally Mr. Williams said that the company will soon be implementing a multi-currency product feature to allow simultaneous exchanges in pounds sterling, United States dollars, euros and other currencies to “help alleviate our future exposure to currency risk and to aid our expansion into new markets.”