Join our daily newsletter At The Bell to receive exclusive market insights
- Simble Solutions (SIS) has been placed in two consecutive trading halts pending the release of a capital raise announcement
- The software development company will remain in the halts until October 8 or when the announcement is made
- For the half-year ending June 30, 2020, Simble’s total revenue was just over $1.2 million, a 20 per cent decrease from nearly $1.5 million in the half-year ending June 30, 2019
- However, Simble made a loss after income tax of nearly $377,000 — an improvement of 75 per cent compared to just over $1.4 million in the prior corresponding period
- Shares in Simble last traded for 2.8 cents on September 29
Simble Solutions (SIS) has been placed in two consecutive trading halts pending the release of a capital raise announcement.
The software development company will remain in the halts until the earlier of October 8 or when the announcement is made.
For the half-year ending June 30, 2020, Simble’s total revenue was $1,202,054, a 20 per cent decrease from $1,498,498 in the half-year ending June 30 2019.
However, Simble reported a loss after income tax of $376,652, an improvement of 75 per cent compared to $1,481,763 in the prior corresponding period.
The company considers this a strong result, considering the challenging environment derived from COVID-19.
Simble last entered a trading halt in March regarding a $375,000 placement, with the funds raised via the issue of 20.84 million fully paid ordinary shares at 1.8 cents each.
The placement also included the issue of one free attaching options on a one-for-two basis.
Simble stated it would use the money to provide working capital, build recurring revenue and positive cashflow, and strengthen its financial position.
Shares in Simble last traded for 2.8 cents on September 29.
