Loans – Right Hemisphere steaming ahead
Right Hemisphere has 48 staff in Auckland, mainly in research and development, and another 50-odd employees in the US and Europe. Its New Zealand subsidiary posted a $3.78 million loss for the year ending March, on revenues of $5.35m. The previous year it lost $1.89m on a turnover of $4.18m.
Right Hemisphere set up Nextspace – a not-for-profit company – to help New Zealand firms and organisations develop applications based on its software and to ensure it upheld its part of the loan agreement.
“They’ve done a terrific job of sending the technology out to a wide range of education and business organisations that are finding more ways to bring money into New Zealand,” Mr Thomas says.
Source here.
