Roo Tap the Market

Video syndication operation, Roo, finally filed their quarterly report for the period to June 06 with the SEC and revealed that they have just raised another $4.675 m at $1.25 (against a market price of around $1.75). Most worrying for the company is that this barely covers a quarter's $3.23m losses as the company revenues grew to $2,014,000 from $1,780,000 for the previous quarter.

Roo's breakdown of revenues is far from transparent and word has it that much of their revenues come from a majority-owned Australian-based online marketing company, Factory212.