australian newspaper article

This is from today's The Australian:

"LINE movie startup ReelTime Media has delayed an announcement about the suspension of its shares amid rumours it is struggling to remain viable.


ReelTime's share price dipped in the weeks before the trading halt in spite of positive announcements about a partnership with DVD distributor EzyDVD

Last week a spokeswoman said chief executive Andrew Wilshire would make a statement about the company's position last Friday. On Monday, however, a weary Mr Wilshire said an announcement was "weeks away".

ReelTime suspended its shares 10 days ago and company secretary Todd Richards resigned on Friday. Its share price dipped in the weeks before the trading halt in spite of positive announcements about a partnership with DVD distributor EzyDVD.

ReelTime recently announced it had reached an agreement with EzyDVD, established in September. The two companies were expected to enter a strategic alliance that meshed their marketing operations to sell DVDs and online movies.

The announcement did little to stop ReelTime's share price slide, which continued through December.

The company's shares were valued at less than a cent when trading in them was halted.

The halt is the second the company has called since listing on the ASX. It suspended its shares early in 2007 when its cash burn outstripped its income.

Former chief executive and founder John Karantzis secured lines of credit to continue operating, but Mr Wilshire said he was unable to comment on the company's current credit arrangements. Mr Karantzis resigned as chief executive late last year."