Freshtel narrows 1H loss to $226k

VoIP provider Freshtel narrowed its 1H loss to just $226,000, as the company wound down its current operations.

But revenue fell 81 per cent to $136,000, due to the winding down of volumes from its VoIP (Voice over Internet Protocol) business, which it agreed in 2010 to lease to Vixtel for 12 months.

The decision to rent off these operations for $2500 per month was made in order to shield the company from furthermore losses accrued by the business and give directors time to explore new investment opportunities, Freshtel said in its interim report.

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