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Catenae warned of wider losses as revenue in the second half of its financial year was expected to be below management expectations despite the digital media and technology provider efforts to boost investment and sales.
The company said there was a reluctance to commit to investment in its targeted sectors, especially in the wider context of the economic slow-down and current political uncertainty caused by Brexit.
But given the recent corporate restructuring and a resultant significant lowering of overheads, the company claimed it was 'confident' in the future of the business.
'The company continues to carefully manage its working capital position and will need to raise further capital in the near future. Further announcements will be made in due course,' it added.