Polymer Vision Readius delayed because of cash problems

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By Paul Biba

We’re all familiar, and lusting after, the roll up display on the Readius. Well, Wired’s Gadget Lab is reporting that it’s ready to go, but more funding is required:

Polymer Vision, a a spin-off of electronics giant Phillips, needs a cash infusion to keep going, says CEO Karl McGoldrick.

“Our whole supply chain is in place but the device is not in market because, like many other companies, we have had financial difficulties,” he says. “The last nine months have been very difficult for young companies.” …

But with the economic slowdown, Readius’ plans have been put on hold. “This product should have been out in the market last year,” says McGoldrick. “It is really frustrating.”

McGoldrick says he’s talking to a few investors to refinance his venture and get new funding. And he’s confident of closing a deal in the next few weeks.

“We are ready to go into production but all depends on exactly when the funding comes through,” he says. “Our display is perfect and the device is solid.”

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