Deltex Medical Group PLC (AIM:DEMG) has requested that its shares be suspended from trading on AIM pending clarification of its financial position.
The group's cashflows have come under pressure due to unexpected delays in the launch of its new generation TrueVue monitor and weaker-than-expected trading in the current quarter.
As a result, its cash balance is currently approximately £180,000 and all loan facilities are fully drawn.
Deltex said it had been exploring additional sources of funding, including discussions with its lenders and major creditors, including Imperialise Limited, a company controlled by chairman Nigel Keen, to provide additional working capital.
However, these discussions have not been successful.
Deltex said it continues to explore its options and will provide a further update as soon as practicable.