More of the same

ZIM Corp. suffers a further drop in revenue as Q2 sales fall by 30% to $446,686. However, the company continues to beat back losses, which fell to $101,207 ($0.1 cents a share) from $369,991 ($0.4 cents a share) a year ago. “We have reduced operating expenses and continue to look for additional savings as we pursue opportunities related to our Internet TV, mobile content and database platforms,” says CEO Michael Cowpland who, reiterating statements made in the company’s previous quarterly report, again blamed the saturated short messaging services (SMS) aggregation market for the ongoing backslide in revenue. ZIM’s latest report notes that the company owes Mr. Cowpland just under $50,000, money he loaned the firm as it transitions from its depressed SMS aggregation business into new areas. SMS aggregation helps to better connect users to mobile network operators for better text-messaging service.

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