The company said this morning, when it released its interim results, that it will report the outcome of the negotiations on 30 September.

Last week, it emerged that brokerage D Roseman had demanded the immediate repayment of the loan, which Nipson said forced it to "consider its position of going concern and its solvency position".

This morning, as the company announced a 6.9% year-on-year drop in sales for the six months to 30 June 2009, it said the group "still faced operational losses and severe cash pressures, which, along with unpredictable sales, continue to make [the company's] continuity uncertain".

During the six-month period, NDPS shareholder Creacorp waived 94% of its €14.5m loan to the company, which dominated the company's £12.4m profit.

However, without that waiver, the company recorded a £200,000 operating loss for the period.

Nipson chairman Marc Maes said: "The positive result comes essentially from the waiver of loans by Creacorp.

"The turnaround process shows some positive elements, but the group still faces operational losses and severe cash pressures, which along with the unpredictable sales continue to make its continuity uncertain."

Equipment sales bore the brunt of the decline in revenues at £2.5m, down 38% over the same period in 2008.

Nipson's French subsidiary, Nipson SAS, fell into the French equivalent of administration last year, emerging on the 7 July this year.

Last week, David Mooney, managing director of Nipson UK, said that the negotiations of the loans related "only to the plc and the restructuring of old loans and does not affect worldwide operations".