With its business continuing to burn through cash at a rapid rate, 3D graphics specialist Superscape has raised a further £9.3m net of expenses at 29.5p. Coming just 12 months after a separate £6.5m fundraising, this latest placing and open offer highlights the company's big failing, - namely that despite having promised much since the mid 1990's, and though it boasts some genuinely impressive technology, Superscape appears still a long way from profitability. Recent interims told a familiar tale. Deals with a plethora of household names - including Disney, Samsung, Siemens, Sony and Motorola - have been sealed. Yet revenues slipped from £510,000 to £94,000 (following the closure of several operations) and losses, though reduced slightly compared with the first half of 2002/03, still topped £4.1m. £5.9m remained in the coffers at the end of July. In an effort to cut costs management has slashed the headcount from 90 to 51, closing its French office en-route. Nonetheless full year losses are expected to hit £5.4m before goodwill on sales of £2m and house broker Evolution Beeson Gregory currently has no predictions for the following year. Superscape thus remains a trading play for daring professional traders with money to burn. Every other investor should steer clear.