CyberCash Inc, the small electronic micro-payments software company, revealed widening losses for its second quarter after warning last month that revenues weren’t growing at the pace the company had hoped for. Second quarter net losses at the Reston, Virginia-based company grew to $9.8m from last time’s $6.3m loss, while revenues rose by over 200% and still only reached $2.5m. But in comments made during a Dow Jones Newswires interview, CyberCash’s chief financial officer James Condon hinted that cybercast was budgeting to break even in just twelve months time. The company also said it had substantially completed the integration of its ICVerify Inc acquisition in the quarter, a strategic move aimed at taking CyberCash into the European market, but one which will prolong the company’s loss making phase by at least three months. The company had previously blamed some of the second quarter’s lack of revenues on uncertainty among its customers, who delayed purchasing decisions until they could assess the impact of the deal. And with at least a full year of trading to go before the company breaks even, CyberCash said it had resorted to a $15m private placing of convertible stock, completed two weeks after the quarter end. Cash and equivalents shown at June 30 had fallen by $16m to $5.8m over the last twelve months. The average number of shares in issue also rose by 30% in the year.