While also announcing its six-month interim results, UK-based IP management and production company Coolabi revealed that it’s in the early stages of discussions on a reverse takeover. Trading of Coolabi shares have been suspended on the AIM Index in London.
The company’s revenue for the six months ending December 31, 2008 saw revenue down to approximately US$776,475, as compared to approximately US$1,288,116 in 2007. However, Coolabi’s licensing revenue has spiked 40% in the past year, with strong demand for Purple Ronnie products and interest in girl-skewing property Scarlett & Crimson.
Gross profit also increased slightly to US$588,462 from US$583,312.65, with a 32% increase in L&M margin year-on-year.