Princeton Video Seeks Financing After Suffering 2001 Losses

Emmy award-winning virtual and interactive entertainment services provider Princeton Video Image is seeking additional funding after its auditor, PricewaterhouseCoopers, reported consistent losses to the Securities and Exchange Commission.

PricewaterhouseCoopers reported that Princeton Video has suffered recurring losses and hasn't generated enough revenue to meet its operating requirements. Princeton Video lost $7 million in the last six months of 2001 and $11.7 million in the first six months.

Princeton Video said it was attempting to secure additional financing, including from bankers and shareholders who have supported the company in the past.