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My ATM Holdings Limited (ASX:MYA) has entered administration after accumulating debts of more than $4 million.
The Adelaide based company that sells and manages automatic teller machines, or ATMs, started trading on the Australian Securities Exchange at the beginning of this year.
KordaMentha has been appointed as voluntary administrator after My ATM failed to secure funding for its future.
My ATM has now extended its trading halt, having last traded at 3.5 cents.
In the 2011 financial year My ATM Holdings reported a net loss of $15.7 million.
