Johannesburg - IGaming, the online gambling software developer, had settled all accounts with the Cape Town landlord who had threatened the company with involuntary liquidation, but was still facing a JSE investigation, it said yesterday.
Patrick Gaertner, the landlord of the Constantia property, said the amount owing on the R4 million mansion came to about R100 000.
Stephen Lumb, the head of corporate finance for IGaming, said the company had served a 60-day notice period and settled the monies demanded in full, including the landlord's legal costs.
But this was not the only hiccup experienced just one month after its listing.
Last week the company released a cautionary advising that it was being investigated by the JSE for irregular share trading.
Lumb said the JSE had given the company a "rough ride" but the company and its directors were not the ones being investigated.
It was a case of some suspiciously high volumes rather than material moves in price, he said.
Controlling shareholders were heavily restricted when it came to moving their shares, and Lumb said he looked through the share register every week.
According to him the company was also concerned about any rogue trading and so far the JSE had been "very on the ball". The investigation had not been passed on to the Financial Services Board, but could be in time.
IGaming's share, which closed its first day on the venture capital board at R3,80, has gained 74 percent in value in the past five weeks in volumes that have never exceeded 160 000 shares traded in a day.
Some analysts have found this surge suspicious, but Lumb said that since IGaming was one of the few stocks making a profit on the venture capital board, it was not that unusual. He said that there had also been more buyers than sellers.
He acknowledged, though, "these things do not always last".
The first set of interim results for IGaming are expected later this week.
The shares closed 10c weaker yesterday at R6,40.