Netwindfall plc announced it is to unveil a range of new business proposals later today.
This follows the company's exit from online insurance, as well as it reporting a pretax loss of £4.3m for the year.
Of the losses reported today, the company said a "substantial" amount of these were caused by the decision to exit the existing businesses.
It also cited the decision to reduce the value of assets to their realisable value for alternative use rather than as ongoing trading as a reason.
The company said its original business model comprising an internet insurance, finance and mortgage broker built up a good client base but did not generate the necessary
income.
As a result, to stem losses, the insurance brokerage was sold in March and the finance brokerage in October last year.
Since October the directors have concentrated on realising assets to stabilise the creditor position while maintaining the small mortgage brokerage operation to protect the value of the Netwindfall and Fredfinds websites with a view to selling them, the company said.
