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Line 61: In the year to 31st August 2011 2ergo announced pre-tax losses of 2.8 million from 800,000 in 2010. The company blamed this on 'the rapid evolution of the market and changes in industry regulation'<ref>http://menmedia.co.uk/manchestereveningnews/news/s/1466679_2ergo-losses-widen-to-28m</ref> ==2012 profit warning & sale of overseas businesses== In February 2012 the company issued a profit warning and stated they had sold their overseas businesses, 2ergo Americas, 2ergo Australia and 2ergo India. The company said this would help stabilise the business by reducing monthly outgoings by £250,000. They have now focussed their business on a new application, Podifi, which is a mobile contactless payment and loyalty device. <ref>http://menmedia.co.uk/manchestereveningnews/news/business/deals/s/1486672_2ergo-issues-profits-warning-after-24m-sale</ref>

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