Posted at 11:02 a.m., Monday, May 16, 2005
BUSINESS BRIEFS
Broadband ITV gets $800,000 venture capital
Advertiser Staff
Honolulu-based Broadband ITV raised $800,000 in the first quarter of this year from investors including Advantage Capital Partners, according to the recently released MoneyTree Survey and a company official. The provider of interactive television advertising services also raised $555,000 in the fourth quarter of last year, said Glenn Yamashita, vice president of finance and administration for Broadband ITV.Broadband ITV was the only Hawai'i-based firm to receive venture capital during the first quarter, according to MoneyTree Survey.
Broadband iTV, launched in 2002, is focused on the development of television community products that allow individuals and groups to directly participate in and publish content on the local cable operator's interactive TV system.
Cyanotech's profit grows
Kona-based microalgae producer Cyanotech Corp. today reported a profit of $486,000, or 2 cents a share, in the year ended March 31, compared with a profit of $399,000, or 2 cents a share, in the year-ago period.
Sales fell percent 1 percent to $11.45 million from the year-ago quarter. Shares of Cyanotech rose 3 cents to $1.05 a share on the Nasdaq Small-Cap market. Cyanotech produces dietary supplements from microalgae.
