Bryant Technology, which has been suspended by the JSE, continues to look at possible acquisitions and has reiterated a cautionary announcement.
The group, which has been trading under cautionary for some time, says its board "continues to pursue acquisition opportunities for the company".
Bryant's most recent annual results, to end-June 2006, show it did not bring in any revenue and suffered a net loss of R254 000. Auditor KPMG qualified the results, raising concerns about the company's ability to continue as a going concern based on its current balance sheet.
In its commentary, Bryant said it suffered a loss during the year due to listing costs and failed acquisition negotiations. However, it noted steps were taken to improve its liquidity.
The firm resolved to continue operating as a technology and technology trading business, while moving ahead with restructuring, acquisition of other assets and black economic empowerment (BEE) arrangements.
It said, in October, it was "at an advanced stage of negotiations to acquire a number of additional assets, and to make the arrangements to become a broad-based BEE-controlled company".
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