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Cash shell Tau Capital booked a first-half loss a it continued to search for a potential reverse takeover candidate.
Net losses for the six months through June amounted to $0.20m, compared to losses of $0.46m on-year.
Chairman Gerwyn Williams said the company was aware that it needed to act quickly if it was to avoid being delisted from AIM.
'The board are considering a number of possibilities including applying for admission to a different exchange,' he said.
'In the meantime, a close watch is being kept on all expenses and, wherever possible, cost savings will continue to be made.'