ProMOS Technologies saw its monthly revenues slip below NT$500 million (US$16.6 million) to hit a new low in October 2011.

ProMOS reported NT$424 million in October revenues, down 31.6% on month and 79% on year. Revenues for January through October 2011 declined about 52.9% from a year earlier to NT$9.26 billion.

ProMOS's debt-to-capital ratio climbed to 113.7% in October, with its current ratio and quick ratio reaching only 12.5% and 3.98%, respectively.

ProMOS has said it is looking to exit the money-losing DRAM business, while shifting its focus to the manufacture of specialty DRAM and mobile RAM, and foundry services for non-memory products such as panel driver ICs. But the company has had difficulty raising money to repay the huge debts owed to banks in order to move forward.

In addition, trading of ProMOS shares has been suspended on Taiwan's over-the-counter (OTC) securities market starting September 6 due to the company's failure to file its financial reports as required. The company may have to delist its shares from the stock market if it does not submit all necessary documents within six months of the trading suspension.