Vimio relies on directors’ loans to stay afloat

VIMIO, a technology company backed by David McKenna, says it is relying on loans from its directors to stay afloat.

The company, which develops technology to allow television to be viewed over mobile phones, said it had a “considerable debtor list,” which is likely to be the subject of “substantial provisions” in the accounts for 2007 as the majority of these debts were greater than 90 days old.

“The company is, as a result, suffering from short-term liquidity problems and, in order to meet its obligations as they fall due, is relying on the support of its directors in the form of unsecured loans,” the company said.