"i-Mate, the Windows Mobile handset manufacturer, will be delisted from the Alternative Investment Market as the share price sinks below a penny and the CEO takes back control of the company. The Financial Times reports that Jim Morrison, the colourful CEO who still owns more than three quarters of i-Mate, will take full control as the company withdraws from the AIM - itself a listing service for companies with insufficient heft for the London Stock Exchange."
I had no idea i-Mate was losing as much money as they were, but apparently i-Mate has lost over $70m between March of 2007 to September of this year. I guess the real question is how much steam does i-Mate have in the old engine? It has been a while since I have run across some really interesting i-Mate news but you have to figure if Palm can continue to string itself along as long as it has, then maybe there might be a chance for i-Mate after all.