Optical component supplier Enablence Technologies filed financial results late Tuesday that showed revenue at $4.7 million for fiscal 2014, down from $7.5 million in 2013.
Net loss for the year ending June 30 was just under $16.2 million, compared with $15.6 million last year.
As of June 30, Enablence (TSXV: ENA) had just under $1.2 million in cash and negative working capital of $1.5 million.
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The financial report says Enablence’s “ability to continue as a going concern is dependent upon the ability to generate positive cash flow and the ability to execute its business plan, including funding operating losses, as well as possible future sources of financing.”
To that end, the company also announced it expects to receive additional bridge financing of up to $1.5 million.