Feverpitch posts bigger than expected loss

The result is the company's first since it listed on the Stock Exchange's New Capital Market in December.

It is more than double the $148,000 loss forecast in the Feverpitch's listing prospectus.

The company said the bigger than expected loss was driven by higher payroll, marketing and listing expenses than earlier predicted.

The result was based on total operating revenue of $12.7 million.

Looking ahead the company said it has embarked on a revised strategy of licensing and partnering the Feverpitch technology.

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