Despite posting a profit for the month of April and further reducing its reported loss for the year, Y3K remains at the mercy of its bankers for its continued existence.
Management blamed operational problems and poor financial structures for the R2.2 million loss recorded for the year to February.
However, Y3K says prospects for a return to stable and sustainable profit are "becoming evident at last", with the group trading profitably since April.
Glitches experienced during the trading period include the group`s re-acquisition of point-of-sale company Micro-Angelo, as the original purchaser was unable to meet its commitments.
However, with the company back in the Y3K stable, management say sales of the Windows-based product are expected to show satisfactory returns going forward.
Other news for the period included Y3K being awarded the distribution rights for Microdata, Mimesweeper and the E-Eye range of security products, which the group says will complement its existing range of security products.
Y3K`s management believes the company will achieve a trading profit for the next year, but has warned investors that: "The group is dependent on its bankers and suppliers to provide ongoing finance for its business activities for the foreseeable future."
No dividend was declared for the period.
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