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Yolo Leisure and Technology said it had written off its investment in online television company TVPlayer.
The company said its 3.3% stake in the business and £50k of convertible loan notes had a book value at 31 March of £447k.
TVPlayer was searching for new investors but had not received any offers to enable it to continue its development, Yolo said.
'It is understood that the TVPlayer board is now seeking a buyer for the business as a going concern or any of its assets,' it added.
'However none of these discussions have yet reached a stage when a definitive offer has been made for the purchase of TVPlayer.'
At 1:22pm: (LON:YOLO) Yolo Leisure And Technology Plc share price was -0.3p at 2.75p