Blow for ImJack days after its return to AIM

IMJACK’S has received a blow just days after it resumed trading following a government decision to withdraw match funding through the Specialist Schols and Academies Trust (SSAT).

In May, the Yorkshire-based digital educational networking and media business announced that it had secured approval for all schools applying for redesignation to be offered the ImJack platform.

Each redesignating school taking ImJack’s platform was entitled to matched government funding through the (SSAT).

However, the coalition government has withdrawn the funding in respect of schools applying for redesignation funding for the year 2009/10.

ImJack said of the decision: “This evenutality was entirely unforeseen by the company and no indication had been given at any stage by the SSAT that such funding might be withdrawn.”

It said it maintained a strong relationship with the SSAT and were now working closely together to find alternative sources of funding to replace the programme.

Earlier this week ImJack announced that had resumned trading on AIM after asking for its shares to be temporarily suspended in January following a dispute with major shareholder and founder Jeffrey Morris.

ImJack said proposed fund-raising and the strength of its product meant it had the opportunity to achieve revenues from schools. It has so far secured seven orders.

Its product enables students to communicate by instant messaging, video conferencing and real-time collaboration by way of secure file transfer or whiteboard.

This technology means that homework can be received directly by children to their computer and that children, teachers and parents can all communicate in a secure environment.