The company, whose primary business is its MallFX portfolio, has resumed trading on AIM after raising £600,000 from investors, with the promise of a £330,000 convertible loan from Trafalgar Capital Specialised investment fund in the next two weeks.
It also has an agreement in principle with an undisclosed company about taking over its train advertising business, which is made up predominantly of Central Trains in Birmingham.
The £600,000 raised by the company was in return for the issue of 150 million new ordinary shares, valued at 0.4p per share.
Media Week revealed in September that the future of ScreenFX was uncertain unless it secured a minimum of £2.5m, plus costs, which were required in order to meet "urgent short-term working capital requirements".
One industry insider said this week that the £2m price tag for the company's train franchise was an "optimistic figure". Meanwhile, KBH Transport Media, a rival train company that was widely tipped to be in the running for the business, has ruled itself out of the deal.
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