- AD1 Holdings (AD1) is considering raising more capital after placing its securities in a trading halt on the ASX
- The software developer’s shares will remain halted from trade until October 21 at which stage the capital raise will be announced
- Looking at its books, the tech stock ended FY21 with a $2.2 million loss and with just over $523,000 worth of cash in the bank
- At the end of September, AD1 reports its subsidiary, Art of Mentoring, almost doubled its revenue over the period after signing several contracts
- Before Tuesday’s trading halt, AD1 Holdings traded at 3.8 cents per share
AD1 Holdings (AD1) is considering raising more capital after placing its securities in a trading halt on the ASX.
The tech company creates Software as a Service (SaaS) products and also invests in other software and tech businesses.
AD1’s shares will remain halted from trade until Thursday, October 21, at which point the capital raise should be announced.
Looking at the company’s financials, AD1 ended the 2021 financial year with a $2.2 million loss and just over $523,000 worth of cash in the bank.
In comparison, the tech stock ended FY20 with a $2.18 million loss and roughly $459,000 worth of cash.
Since the end of FY21, the business reports its subsidiary, Art of Mentoring, almost doubled its revenue over the period.
The jump in revenue comes after Art signed two contracts worth $100,000 each with the Australian Department of Defence and HR.com.
Before Tuesday’s trading halt, AD1 Holdings traded at 3.8 cents per share on Monday, October 18.